Do not think for a second this isn’t deliberate — because it is. Trump knows the value in a shitty dollar and has fomented an environment that had led to a weaker dollar, in spite of Fed interest rate hikes and a tapering of their balance sheet. When you put it into that context, it truly is remarkable to see the dollar making fresh lows like this — which is, of course, a boon to US exporters.
Gold is taking a breather today and many miners are sharply lower. This is an industry that has been overwhelmed with false starts and broken promises, so I will be mindful of my positions and make sure they don’t become anchors on my overall performance.
Early going, I have two notable breakouts: PPDF and FTK. The former is a blockchain/chinese burrito stock with a gap to fill 100% higher from present levels and the latter is a play on fracking. Look at WTI stare down $66, I like my chances positioned into exploration names, like FTK and SN. Once the sector gets going again, I will likely buy a few more oil stocks. In the meantime, I am only looking for momentum, tactical trades, by which I could profit from.
If you enjoy the content at iBankCoin, please follow us on Twitter
I’ll keep a close eye on the macro, it’s a global economy and sharp fx moves are less than ideal.
What the hell will it take for my damn oil plays to get going in this environment!!!
Head to Head: Siacoin (SC) vs Storj (STORJ)
https://cryptocanucks.com/head-to-head-siacoin-vs-storj/