In spite of the first minister of Scotland meeting with EU heads in Brussels to pledge allegiance to them, a move that can be construed as a signal that Scotland will try to breakaway from Great Britain again, the pound is surging–higher by 1.1%.
Weakness in the dollar has carried over into the gold miners, helping safe haven assets and inflating equity markets to no end.
European markets are racing higher by 2% and U.S. markets are higher by about 1%. Gains are fairly broad based, but most energetic in the basic resource sectors, as well as tech.
For the most part, gains in the banking sector are somewhat muted, considering the recent drop they’ve endured.
Alas, the prevailing wisdom is that BREXIT is behind us. The Fed is in front of us. Ergo, they’ll jerk this market higher, by hook or crook, through any means necessary.
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You’re saying we missed the dip, Fly?
I bought Europe Monday. I’ll hate myself next week.
No. The assumption is a fallacy and a farce.
Looks like the trophy closet is getting filled a bit more today. Or we sell off end of the day.
Shit happens too fast for me… I thought okay BREXIT great. Pound is down. Euro is down. Flights to the EU were super cheap! I gave it a couple of days to think about it, see if friends were interested in going.
Look now.. that “thinking about it” cost me hundreds. Damn it! When we get a crisis, we need to have at least a week to see if there is an opportunity. I mean if we drop 600 points in one day the next day should not be the bottom.
Maybe I just need to start using Creatine again.
IBankZero(hedge)
You’re all morons.
Bounce is done.