There’s not a lot of rocket science with this trade. Stronger dollar means less reason to store money in useless gold bars. There is a fairly good correlation between gold and dollars now, one that I encourage all to pay attention to.
To play this, I’m long the 3x purple faggot ETF, DUST.
Moreover, and this goes without saying, oil is way over-priced at present levels. Perhaps The House of Saud needs higher crude in order to IPO their state owned oil company. Or perhaps Trump is truly on Team Putin and is helping to needle Brent higher, in order to place some rubles in Vlad’s pockets. Either way, this shit is fadeable.
To play this, I am long the yellow nostril monster, DRIP.
Markets are flat and eagerly awaiting Trump’s 2pm announcement on the Iranian deal. I have no intention of trading the headlines for this announcement — because it should not have a material impact on stocks. I’m not saying there will not be a reaction, traders are fucking stupid. But, over a longer time frame, this is a nothing burger.
Off to the gym, fully loaded with 5gs of creatine.
If you enjoy the content at iBankCoin, please follow us on Twitter
Good call on Oil.
Also, what charts are you using in the blog?
Wink. Wink.
Good call on oil?
Anyone playing MTCH?
Started buying GLD calls at 10:46 A.M., after years of being neutral on gold. Ironically, we may both be right: miners will follow the broad market down.