To little relative fanfare one of humankind’s great intellectual accomplishments was confirmed today, as Einstein’s century-old prediction of gravitational waves in space-time was confirmed by the faintly audible sound of the merging of black holes roughly 1.3 billion years ago. That event generated energy fifty times the magnitude of all the stars in the universe and took better than 50 years of active research to detect, all the while confirming both the existence of gravitational waves and black holes themselves. Contrary to rumors, the new, larger black hole that was created was not to be known as the Coffee market, as coffee lacks both the energy associated, and the gravitational pull in KC seems isolatable to the 110 strike. That level was in peak focus across both H & J Puts today, with paper a determined buyer. The market was sucked lower with little regard for the roaster interest that was present throughout the day, led in principle by the ongoing macro woes, crude at 12 year lows, and inefficacy of central bank actions. With Brazil back from Carnaval yet not
currently incentivized to sell, we hope they can bring some of their spirit to the market.