China’s Twitter Mouthpiece: China May Stop Buying American Ag Products, Boeing, Treasuries

China is renowned for talking shit via certain media puppets. Here’s one of them on Twitter and this is what he’s saying today.

China hasn’t released countermeasures immediately. I believe the reason is that China is drafting a plan that will have precise effects, making sure it hits the US while minimizing damage to itself.

— Hu Xijin ??? (@HuXijin_GT) May 13, 2019

China may stop purchasing US agricultural products and energy, reduce Boeing orders and restrict US service trade with China. Many Chinese scholars are discussing the possibility of dumping US Treasuries and how to do it specifically.

— Hu Xijin ??? (@HuXijin_GT) May 13, 2019

So much winning.

Here’s why crude is higher — two Saudi tankers attacked.

Saudi energy minister Khalid Al-Falih revealed the tankers suffered “significant damage” – although it was unclear what the attack involved.

He said: “Fortunately, the attack didn’t lead to any casualties or oil spill; however, it caused significant damage to the structures of the two vessels.”

Trading and shipping sources identified the Saudi ships as Bahri-owned very large crude carrier (VLCC) tanker Amjad and crude tanker Al Marzoqah.

Dow futs -444.

UPDATE: Fed cut being priced in now as a foregone conclusion.

Traders are pricing in a 73.6% chance the Fed will cut rates by January. pic.twitter.com/KTxiTP6MoE

— Lisa Abramowicz (@lisaabramowicz1) May 13, 2019

UPDATE:

CHINA SAYS TO RAISE TARIFFS ON 2493 U.S. GOODS TO 25%

— zerohedge (@zerohedge) May 13, 2019

According to Trump, tariffs boosted economic growth. BOOSTED!

The unexpectedly good first quarter 3.2% GDP was greatly helped by Tariffs from China. Some people just don’t get it!

— Donald J. Trump (@realDonaldTrump) May 13, 2019

He calls out President Xi by name.

….completely avoided if you by from a non-Tariffed Country, or you buy the product inside the USA (the best idea). That’s Zero Tariffs. Many Tariffed companies will be leaving China for Vietnam and other such countries in Asia. That’s why China wants to make a deal so badly!…

— Donald J. Trump (@realDonaldTrump) May 13, 2019

What the fuck is going on here. Oh, by the way, good morning. My coffee is hot as shit and futures are now -320. But, WTI is +1%, which is odd. Bond yields are sinking again too. I don’t think anyone should panic while WTI is higher. Nevertheless, this calling out of Xi can’t bode well for a deal any time soon. Will this pass and people just carry on like it never happened — or will it wreck markets?

STAY TUNED!!!

Goldman is out with a pleasant note this evening, laying waste to Trump’s claims that the trade war is advantageous to America — because it’s brining in BILLIONS in new tax dollars. According to Goldman, the entirely of the brunt is falling onto the backs of Americans.

Goldman Sachs said the cost of tariffs imposed by President Donald Trump last year against Chinese goods has fallen “entirely” on American businesses and households, with a greater impact on consumer prices than previously expected.

The bank said in a note that the trade war’s impact on U.S. consumer prices is now higher than previously expected, partly because Chinese exporters have not lowered their prices to better compete in the US market

“One might have expected that Chinese exporters of tariff-affected goods would have to lower their prices somewhat to compete in the US market, sharing in the cost of the tariffs,” Goldman said.

Futures are off by 200.

I’m mature enough to know -215 on the Dow futures on a Sunday night means nothing. By the time markets open tomorrow, they could be +200. However, in the off-chance these losses hold and heighten, Le Fly stands to make a large dicked gain in the morning — presently long SOXS, LABD, DRIP, and NUGT. My cash, which is currently at 50%, will be put to good use.

Truth is, you should’ve went away in May. I did warn you and if you’re getting BTFO in this market — you have no one to blame but yourself. Just know and understand, “The Fly” is mastering this market and will making live calls inside of Exodus tomorrow morning. I’d be interested to see if we edge towards oversold tomorrow and might even flip to extreme long if that should happen.

Although it looks ominous now, with Trump’s trade war boring horrible fruits — it’s literally a self-inflicted wound that could be resolved with one press conference and one deal with the Chinese. Be careful about overstaying your welcome on the short side — for when this squall is over — we’re going to springboard higher with an extreme vengeance.

It’s a wonderful thing living in a post-modernist society that has figured out a way to skip over economic cycles and just boom all the time. Good habits, such as dropping $10-15k per annum into your retirement plans, has created an ocean of wealth the world has never seen before. The money we invest simply grows and grows and grows — creating millionaires out of blue collared workers and 8 figure mavens out of those wearing white ones.

All of my friends, from cops to electricians to engineers to doctors, are millionaires. They come over to my house and show me their account statements, worrying about how they might survive in retirement from a mere $2 million. Naturally, this isn’t fuck you money and they can’t buy a really nice yacht with that minimum type of fortune, but it’s certainly atypical from a historical point of view and I don’t think people understand how lucky they are to be born into this timeline.

If you’re starting out fresh and trying to make money in stocks — subordinate your trading account to your long term account and you’ll be fine. Worst thing you can possibly do is pretending you’re special with psychic abilities and attempt to trade your way into a yacht. While possible, it’s not probable. Keep a balanced portfolio of boring stocks and see it grow over the next 30 years and you too can be a millionaire complaining about a $2 million fortune to some future version of Le Fly.

Until then, toil on and enjoy the pageantry of the market — the ups and downs — the clowns and the frowns — the evergreen struggle for dominance in a world where the winners have already been selected and everyone else is merely trying to glean some of the crumbs.

See the market close, +115? You’re right now brimming with confidence — on the balls of your feet, ecstatic by the specter of your own grandeur — having bought the dip successfully and floated into the weekend surrounded by an air of impenetrable success.

The tariffs on China have gone up from 10 to 25% and negotiations have ended and there isn’t a deal; but Mnuchin is optimistic and the President told us the new taxes on Chinese goods coming into America will make us rich. The money will be used to help farmers till the land and to build road and tunnels, maybe even great giant structures at the southern border.

Nothing can go wrong — because nothing is wrong.

Have a great weekend people and make sure to chill the champagne and wait for it to be properly frapped before consuming it.

These people aren’t going to let me down. Trump wants the market to go up 200% from present levels and has likely taken some index call options out to profit from it.

I bought ESTC and UPLD about an hour or so ago.

I still have DRIP, SOXS, and LABD, and some NUGT, but that is mostly offset by ZEN, UPLD, ESTC, SPLK and a few other positions in my trading. In my Quant, it’s lit AF — now higher by 0.93% for the day, 100% invested long.

Like clockwork, President Day Trader sent minion #1 of #2 out to suck the markets off and it worked!

Stocks began paring some of their losses after Treasury Secretary Steven Mnuchin said China trade talks were “constructive.” Chinese Vice Premier Liu He also said the talks went “fairly well,” according to reports. The talks are now done for the day.

Talks went from ‘congenial’ to not really mattering all that much to ‘constructive’ — but they’re over now. I do suspect brainless halfwits to make large bets. I, myself, am more position for nothing — heavily cash, but admittedly biased against progress and humanity and kindness. I’d like to see black clouds overhead and storm beating down farmers and large hordes of roaming bees blanketing the country — stinging people in the face and necks.

Stocks are now up and my LABD position is now heading lower. FML.

Taking a stand against science here, I bought LABD because this rally is destined to fail for a number of reasons, especially the fact that markets do not bottom on Fridays.

Also, I sold out of OLED for -10%.

According to Trump, we don’t need a trade deal. That’s because he’s not concerned, whatsoever, with the specific companies and individuals who are hurt by the tit for tat taxes being applied here, in many cases RUINOUS, to respective businesses. Taking into account the amount of money coming into the US Treasury, by way of high tariffs on Chinese goods, Trump quite literally believes  this is preferable to a deal.

His words, not mine.

Tariffs will bring in FAR MORE wealth to our Country than even a phenomenal deal of the traditional kind. Also, much easier & quicker to do. Our Farmers will do better, faster, and starving nations can now be helped. Waivers on some products will be granted, or go to new source!

— Donald J. Trump (@realDonaldTrump) May 10, 2019

Tariffs will make our Country MUCH STRONGER, not weaker. Just sit back and watch! In the meantime, China should not renegotiate deals with the U.S. at the last minute. This is not the Obama Administration, or the Administration of Sleepy Joe, who let China get away with “murder!”

— Donald J. Trump (@realDonaldTrump) May 10, 2019

….If we bought 15 Billion Dollars of Agriculture from our Farmers, far more than China buys now, we would have more than 85 Billion Dollars left over for new Infrastructure, Healthcare, or anything else. China would greatly slow down, and we would automatically speed up!

— Donald J. Trump (@realDonaldTrump) May 10, 2019

Build your products in the United States and there are NO TARIFFS!

— Donald J. Trump (@realDonaldTrump) May 10, 2019

So there you have it. No rush. We don’t need a trade deal, per se, because we’re making so much money off those orangutan Chinese fools.

Futures are sharply lower.

Mother’s Day is just around the corner. Typically you get her some flowers, a box of chocolates, and a hot meal. She’s bored and tired of that shit — why not get her something that’ll make her a better person? Give her the gift of laughter, via Le Fly’s two award winning novellas.

In a Car Made From Dynamite Heading For the Sun:

About a young handsome lad name George who grew up in the sewers of Brooklyn. He tried to escape the bullets and the masked robbers for a life on Wall Street — but things went horribly bad and he was starving half to death with his wife and son in a basement apartment. Then, out of nowhere, the dot com bubble came upon him and it wasn’t long before he practically owned his brokerage firm — walking around the place with his dick out — buying jewels and new suits all the time — having a grande olde fucking time of things and no one could stop him.

Journey Into Fear:

We follow the story of young handsome George and his exploits on Wall Street. He worked real hard and was super rich, and then he lost all of that shit — shattered across the rocks like a damned jackass fool during the dot com crash. Easy come and easy go. Walk with George thru the blow up and 9/11 and many of the other fun times during the early aughts — a period of time that will forever be remembered by fast fortunes made and lost.