So it all comes down to Trump’s speech tonight….as market participant stand like fat deer in the headlights..
Gold still the same. EUR/USD up nicely but still more or less the same, and the beast of all beasts NUGT takes the world for a diving lesson. Boom…talk about a stop run. These things don’t happen unless the big boys are making their moves. They can push price a couple bucks in a couple of hours without batting an eye….all the while your piddly 200 shares with a .50 cent stop get’s gobbled up. Multiply that by a couple 100,000 ( or million ) and you start to better understand just how difficult it is to “trade” with a “pea shooter”…when those on the other side of your trade carry billion dollar bazookas.
You really don’t have much of a chance.
I find it incredibly ironic that the Trumpster is calling for some 54 billion more spending on Defence, and 1 Trillion on infrastructure when the country is already 100% flat busted / broke / bankrupt. As suggested by a few of the brightest minds in the comment section here at Kong – sounds like the ol debt ceiling with just get raised, then raised again…then again. Where does the money come from?
Sounds like more money printing to me..but I thought the economy is expanding and there is now talk of the rate hike cycle beginning? Not.
QE will happen in ‘Merica again.
The printing presses can never stop printing.
They can’t keep beating that old, dead Trump-reflation=strong dollar=rate hike-trade can they?! We shall see senor Kong!
so the cycle just keeps going on and on, when does it end? Debt,Debt and more Debt. Fuck the average debt per american is already $60k for each living american so why not add a few more $$$. I guess you could put it, it you had a business which was under performing and borrowed from the bank to keep it afloat, the loan will only last so long if you keep spending without a plan or cuts… Scary really
USD behaving very nicely here this a.m.
The only way is down. I would like to see a complete and total reset…THEN allow Trump and his bold ideas take hold.
Let’s rinse this thing…get a good clean reset with a new / firm understanding of policy moving forward and see if we can “one day” get these fundamentals lined back up.
We get a reset of Biblical proportions, then we get the long awaited SDR. Dollar will be dead along with millions of people.
As crude as it my be. Makes perfect sense to me.
I agree 100%
Shit….I better up my game here. The viewing audience is freakin smart!
Great stuff guys. Love the chatter.
fuck the usd is hanging on by its foreskin, even having a look at big money positioning its like they are waiting for something the big boys. The data has been flat for the last month, like the calm before the storm.
i have been watching the usd/jpy for a few weeks waiting to see the break and close below 111.770 , i think below that for that pair might be a good number to look shorts, what you think kong…
Just hopping on / off a plane guys…….zzzzz’z needed so if you can hang in till the a.m
USD has STILL NOT broken high enough above the “preferred cycle high” to call it a trend change in my view…..but it’s within “micro pennies”!! Gold tugged to 1245.00 – what a stretch this trade has turned out to be..as this thing keeps hanging on.
Tomorrow….fok – Thurs…..this certainly qualifies as a “groaner”.
Back in the a.m
Interesting Kong, You know all about currencies. If in 2009 someone told you that the FED was going to print trillions of dollars every year and for you to guess where the USD would be in February 2017 I bet you would’ve said the USD would crushed. Nope up up and away. I agree with your endgame analysis but the end may be a very long way away.
Look a touch closer…..USD tanked for the large part 2009 and 2010 then traded totally flat through 2015. Let’s call it crushed through that phase.
This rather “recent” run up ( in my view ) was the UNWIND and the passing of the buck on a GLOBAL SCALE. Retail thinking USD is on the mend. Wrong.
Yes it’s taken the entire 2016 / 2017 to unwind. There is no support on a global scale for a strong U.S Dollar…but hey….flat for another 5 years and I can’t go waving the flag that I’m right TODAY. This shit takes forever….and forex is a huuuuuuuge wheel.
I look at it like watching a cruise shit turn around in the bay….as opposed to the speedboat next to it. Forex is deceptively slow.
Only Lulz for the epic jawboning by these idiots today.
Not a lot to go on in that speech. The algos ramp USD and stocks. Reflation is back on!
I hear ya, and goddarn it I am dying to agree. F**k me, truly.
Fact is, the ones you call big boys, they are all being squeezed. ALL OF THEM, apart from those LONG this shitshow, of course LOL… Just look at hedgies performances and redemptions %… ABYSMAL.
If instead by “big boys” you mean the Central Bankers… then f**k me again: they are ALL IN.
Patience is the name of the game. But I might be dead before this is over. And I’m not THAT old.
Yes…The Central Bankers..and wow – when this thing flop over…she’s gonna be epic. Patience most certainly the key..and having enough gas in the tank to survive a couple of these tougher turns, then step on it once you’ve got yer fundies lined up.
It seems to me like all currencies are racing to the bottom. But I do believe the USD will be the winner, followed closely by yen and euro….
Which is why I too am a big believer in buying solid gold – the real stuff….
Whilst I agree with Kong’s bullish medium to longer take on gold I would never ever trade NUGT and here is why: http://www.tff-onlinetrading.com/market-analysis/2014/08/01/leveraged-etfs/
This is excellent advice. NUGT is “kong style” and needs to be treated with tremendous respect, and having a deep pocket / nerves of steel doesn’t hurt either.
It’s not for newbies that’s for sure.