None of this stuff means anything to anyone, because Dow 20,000, Santa Claus, and lots and lots of cocaine. I’ve never seen anything like this in all of my years doing this shit. The complacency and disconnect from reality is both an epic achievement of dissonance and also the most retarded shit ever.
Gold and silver walked into this session already hobbled, in a wheeled chair, injured. This morning said wheeled chair has been tossed into a fucking fire. Silver is off by 6%.
America’s borrowing costs continue to skyrocket. The Yellen Fed is out to fuck Trump and the economy. That is not hyperbole.
The euro is quickly moving towards parity with the dollar and look at the God damned yen. Japan is raping us.
All of that above was really bad. Does the market care? Not a fucking chance in red hell. A 12 handle on the VIX. Fuck me.
If that wasn’t enough, the yuan is down 0.44% v the dollar this morning.
Go buy some stocks. Get ’em boys.
If you enjoy the content at iBankCoin, please follow us on Twitter
Irrational Trumpuberance.
Maybe The Trilateral commission is waiting for me to dump my miners and go long ERX. Makes the most sense at this point.
As I have already said, buy bitcoin instead of gold.
I think we’re in the 5th wave up/enthusiasm phase/blow-off phase from the March 2009 low. How high it goes remains to be seen but I wouldn’t want to be holding the bag after that final high tick.
On the other hand, perhaps the metals are doing ‘aversion’ after their ‘wall of worry’ rally, to put it in the sentiment chart terms that OA likes to reference.
http://ibankcoin.com/option_addict/files/2016/05/sentiment.png
everyone looking to hold on to gains made since the election (read bonus). If Monday is a surprise in electoral college look for the monkey hammer. Otherwise glide into Christmas and then get killed in the New Year .. just feels like that kid of market.
$US and gold are inversely correlated most of the time until suddenly they become correlated when the crisis hits. Accumulate gold as the dollar drives higher then when the crisis hits trim the gold position back at a profit?
Boarded the ark yesterday. This thing needs a bit of work, but I think we will make it stronger than before.
I totally got out of the ark TLT total capitulation.
The ark floats! We’re going to put a steam engine on this bitch too.
All of the dislocation in the market provides huge opportunity. The only question is how long will it take.
And what exactly is dislocated, i.e. Who’s wrong and what way to play it.
The first rate rise is free.The ones still
to come will begin to bite.Money to
be made in $C and if you can believe it $DB and $AEG.
Smart money on iBC been jerking to Trump and boarding golden arks all year, just keep rowing!
Why pay for exodus when you can get all the contrarian indicators you need for free.
Regards,
Iron Turd
1
Many shorts will crash, burn and capitulate before the market finally reacts to the reality of higher rates/strong dollar and “corrects”. Right now the “powers that be” (I really dont know who is behind this upswing) are driving this market higher. It could very well stay this way through 2018. Don’t take it personally and stay away from the fashionable “contrarian” vehicles like precious metals, treasuries, shorts, etc. or you WILL get murdered like Fly’s positions. The market is capable of bitch-slapping its skeptics for far longer than you ever think. It took the very obvious subprime crisis to come to a head after more than 2 years of impending signs of doom.
some of us have been pointing to someone behind the index movement, for a very long time, a powers that be market, but it’s much more naked brazen and apparent the last 6 mos., validating and adding some longterm validation to, some of us, thank You snb