The President exercised his constitutional rights yesterday and declared foreign steel to be a grave threat upon this great nation. His executive order is binding. It will not be protested at the WTO. Across the internets, I read nothing but self-ass-raping diatribes, faggotry on an industrial scale. Chicken little fear mongering rooted in personal insecurities. Either these people were beaten up as kids, or they were too stupid to make up their own minds and have since been molded by idiots.
Here’s the price or hot rolled steel.
You know about the tariffs and the President’s desire to protect US industry and all you can think about is the price of a can of soup or the marginal increase of a shitty automobile? Please.
Your job is to make money. US Steel is +55% over the past 3 months.
The steel ETF, SLX, is higher by 16% over the past 3 months.
Here are the biggest winners.
“The Fly” is long CLF — because he’s a fan of coking coal — the shit used to create steel.
Word of advice, quit bitching about things you cannot control and get inside the molten steel furnace and enjoy the heat.
This is the first systemwide oversold signal in more than a year. The last one was a few weeks ago — but that was on an intra-day basis and didn’t officially register.
As discussed with members of Exodus, at the open of trade today I booked my profits in SQQQ and DRV — then quickly turned around and bought SOXL at $156 and SPY at $266.
With ten minutes left to trade, SOXL is $169 and SPY is $269. That’s right, I bagged 8% so far in the SOXL trade and I did it while eating a revolting Kim-chi sandwich.
Exodus OS track record is all but flawless in this regard. The only reason why I am discussing it here is because the trade has already been so overtly positive. There is very little else that I can offer you — other than to show you my winship.
Behold and brace yourselves, for a superior being is about to reveal his hand.
I laugh at trade wars. I spit on actual wars. I buy the fucking dips when faggots panic out of their shares due to political news flow. This is precisely why iBankCoin was built — to protect traders and investors from the limitations thrusted upon CNBC and Bloomberg by special interests. Their interests do not align with yours. Ergo, we buy the dips, mightily, because the Gods said so. Also, because it’s the right thing to do — standing up to defilers and their catamites, saying ‘we will not stand for this shit anymore you fucking faggots.’
I sold my SQQQ for a 2 point profit — DRV for a marginal gain, and stepped in with a full heart in SOXL.
How many times do these people need to be proven wrong for CNBC to quit with the bullshit? Every fucking time there is something proposed that is remotely good for American industry, these fuckers fly out of the woodworks to declare it’s the worst thing ever and how market and the economy will collapse as a result.
Trump’s idea: protecting the US steel industry is of national security interest. Can anyone rebut that? Yes of course, let’s do a quick rundown on all of the free trade shills who’d love to see nothing more than US steel bankrupted and replaced by Chinese steel.
Here is the latest world ending economic crisis that must be avoided: protecting US steel.
Former Obama trade rep says tariffs will hurt allies more than China.
Here’s an economist who believes the tariffs are just stupid and corrupt. He says they aren’t a national security priority because they hurt Canada and S. Korea. In other words, US steel industry is secondary to the well being of Canada.
Here’s another one declaring the EU would be swift and decisive against these evil tariffs. Towards the latter part of the clip, he went off script and admitted the people in Europe hate the globalist fuckers and are sympathetic to Trump’s policies. He is on suicide alert now.
Here’s an EU-ASEAN business council shill telling the CNBC Europe cuck these evil tariffs might cause trade war to spiral out of control, making prices higher for folks like you and me.
Princeton’s Blinder says free trade is ‘for the greater good’. He also added some bullshit about American cars being shitty until we let Japan steal market share, which made American cars better. What?!
CATO Center shill says Trump isn’t rational. The steel industry is already doing great and is not a national security threat. “This is a day that will go down in infamy.” Yes, he fucking said it.
Larry Kudlow saying a $35-100 hike in auto prices will destroy industry.
Lastly, here’s the former CEO of Nucor saying Larry Kudlow has no idea what he’s talking about. China contributes way more than the reported 2.1% to the US steel market, through trans-imports. He says China is a trade cheater and is pleased with the message being sent here.
Follow the logic here from globalist shill Larry Kudlow.
Tariffs are a tax.
Steel tariffs protect ~200,000 jobs, but affect over 6 million jobs who depend on steel inputs.
This is bad for automakers because it will increase price of car by $35-100.
Kudlow logic fails; Kudlow shrinks back into his CFR hole.
The amount of shilling and fear mongering over these tariffs is astounding. It’s almost as if these people were given marching orders from China.
Related: ZH is out with a piece trying to tie Bush’s steel tariffs with a 30% drop in the SPY.
That is the equivalent to blaming the SPY drop on me making a peanut butter and jelly sandwich served on disgusting rye bread. The markets were sick back then and I can tell you the steel tariffs had nothing to do with the market drop.
It looks like another key member of Trump’s administration hates his guts and is ready to resign, this time the cuck from Goldman — Gary Cohn.
Apparently, Gary is quite upset over the steel tariffs Trump has proposed and would like all American steel workers to burn in hell, in favor of slave labor in China. The idea, tariffs will increase the price of steel which would make things more expensive for consumers here in the states.
Source: Politico
Gary Cohn, President Donald Trump’s top economic adviser, has been rumored to be on the brink of leaving the White House for months but stayed for one main reason: to stop the president from imposing steep tariffs.
In a meeting with steel industry executives, Trump announced plans for a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports.
The decision came after a frantic 24 hours in which Cohn and others tried to talk Trump off the ledge. At one point, aides were sure Trump would make the announcement. Then they said he wouldn’t. Finally, sitting alongside steel executives, he did.
One person close to Cohn, a former Goldman Sachs executive, said he wouldn’t be surprised if he eventually left the chaotic and deeply exhausting administration as a result of the decision. A second person close to Cohn described it as a brutal blow that violated one of the NEC director’s core beliefs—that protectionism is economically backward and won’t lead to increased prosperity.
“It’s just something he feels very passionate about and he is incredibly good at making the case,” this person said, adding that it still isn’t clear if Trump’s decision would be enough to drive out Cohn.
Larry Kudlow, an outside Trump adviser often mentioned as a potential successor as NEC director, said he would not be surprised if Cohn felt burned by the steel decision. And he sharply criticized the president for Thursday’s announcement.
“All that will happen with steel tariffs is you will raise prices for all import users and that includes businesses and of course consumers,” Kudlow said. “You will wind up hurting millions of people to help 140,000 people in the steel industry. You will be hurting car buyers. Is that really what you want to do?”
There’s no way to know who’s shilling anymore. I tend to believe they’re all playing a game of musical chairs and the American people are the one’s who always end up without a chair. Should Cohn leave, markets will get fucking rocked.
In related news, Trump says trade wars are good and easy to win.
When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!
When I got up this morning and found futures down more than 200, it gave me an extra spring in my step. Immediately, I ran downstairs like a lunatic and tossed on a pot of water on the stove. Then I whipped out a jar of Korean Kim-chi and ate some with bread. You might think that is absolutely disgusting, eating fermented cabbage in the morning. What sort of breath should one expect to have after eating such disgusting fare?
Shut the fuck up.
I’m from middle earth now and I am here because The Era of the Short has begun. Get used to eating horrible foods — merely sustaining off fermented cabbage and maybe dry nuts and a hard sausage. These are hard times now, ya here? Don’t tell me about your cryptos — because they’re dead. Don’t tell me about your tech portfolio — because that’s gonna die soon.
Trump’s plan to slap China in the face with his cock has backfired. The world order is upset and will now press the orange one’s fat head into a panini press — plunging his market lower.
Both Canada and the EU threatened to counter-punch Trump in his head, due to the proposed levies.
“We will not sit idly while our industry is hit with unfair measures that put thousands of European jobs at risk,” Juncker said in a statement.
He also said that in the coming days the European Commission will propose “countermeasures against the U.S. to rebalance the situation.”
This is causing people to freak out — especially since it’s Friday and all — forcing futures sharply lower.
The dollar is lower by 0.4% v the euro and gold is +1.3%.
Crypto market cap is $462 billion and the SEC is dipping their long fucking beaks into the ICO world. Something tells me they will not like what the find.
Via Tech Crunch:
Citing sources, the Wall Street Journal is reporting that the commission has “issued dozens of subpoenas and information requests” to tech companies that have held token sales and a number of advisors associated with them.
More specifically, it appears that the SEC is requesting details of sale structures and the pre-sale elements to them, which often include deep discounts for those investing large sums or committing to an ICO early on.
More than $6 billion was raised via ICOs, which are also known as token sales, in 2017, and a further $1 billion has been added to that tally in 2018 to date.
Bitcoin and crypto have traditionally been backed by libertarians, but there’s plenty of sensible arguments as to why regulating the space would be beneficial to all. Beyond helping those who invest, mechanisms to prevent scams or pyramid schemes such as BitConnect could lend credibility to token sale projects. Currently, the space is a wild west that allows anyone to raise money against a proposed project simply by publishing a whitepaper on the internet.
Meanwhile, Bitcoin is above $11,000 — but no one really gives a shit. Am I right? Of course I am. “The Fly” is the pulse of the market; he knows all — both omnipresent and black hearted malevolent evil. I stopped trading my shitcoins after they stopped heading higher. Now I’m just HODLing like an avocado toast eating faggot. By the way, I do enjoy an avocado toast, especially with a little lemon and a few sprigs of arugula.
The point is, the crypto world is fucking dead. All of you retards who left real jobs to pursue some digital money fantasy have been inexorably beat the fuck out. You might as well kill yourselves now and get it over with.
As for me, I have a Reisling on ice, a few dozen clams steaming in sherry, and some fish on the frying pan.
The only reason why I am not unwinding my SQQQ and DRV positions is to retain license to claim to be apart of The Era of the Short — led by Orcs from middle earth. In a just world, all of this will end, under a barrage of North Korean ICBMs — errantly and comically, striking cities indiscriminately.
Stocks have McPlunged by 400 and Americans are racing towards their local McDonald’s to find solace in a large Coca-Cola beverage and Big Mac cheeseburger with fries.
LISTEN TO ME NOW: “The Fly” is immune to the pangs of market misery. Look, I can prove it.
Now that we’ve established my genetic superiority over you, I want you to now lament over your portfolios and how they pale in comparison to mine, whilst listening to the lovely and haunting melodies of the Dunkirk soundtrack below.
You may stop listening to it, after your surrender.
Mark my words, there will be some of you reading this who will be physically upset that I said the word ‘plunge’. You’ll want to rebut with phrases like “plunge, MUH -0.6%”; but go fuck yourself. This is broken elevator trading action and if you don’t have hedges in place, I have no pity for you.
It’s as clear as the day is long, the market HATES Chairman Powell. Moreover, they love steel tariffs. This sordid and exotic blend of good and evil has resulted in a harmonious utopia in my tactical account — with big dicked gains in CLF, FTK, ECR and modest returns in SQQQ.
I am on standby waiting for an Exodus OS signal with 20% cash to be deployed in SPY. Unlike previous signals, I will not share them here with the unwashed, unclean masses — out of resect for paying members. However, I will warn you, once again of very dark times ahead.
