iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,966 Blog Posts

Grandma Yellen: The Next Move by the Fed Might Be to Cut

Gold is vacillating between a very tight range — and on the cusp of breaking a 5 year resistance level. Earlier this afternoon, Yellen said the Fed’s next move might be to cut, instead of hike. At a minimum, this is misinformation. But in the event this were to be true, you can rest assured, gold will fantastically break higher and eclipse the highs enjoyed in 2012, some 40% from here.

“Of course it’s possible. If global growth really weakens and that spills over to the United States where financial conditions tighten more and we do see a weakening in the U.S. eonomy, it’s certainly possible that the next move is a cut,” she said. “But both outcomes are possible.

Top picks: NUGT, GRUB, ESTC

UPDATE: I sold GRUB, +4.6% — not holding this shit into earnings.

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4 comments

  1. acehood

    Nugt looks weak AF with dollar bouncing higher off the 50 day

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  2. it is showtime

    Fedspeak for we raised so we could again cut and well inevitably have to cut and the recovery is a recovery not a boom or not an expansion and that recovery is solely supported by easy-out-of-control charlatan gimmick monetary policy

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  3. og

    Good thing you sold SONO.

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  4. helen

    SP will start it’s journey to 2650 over the next coupla weeks. Months of boring grind after…
    Gold will kiss $1300 and off to a long term upwards journey.
    Better to buy puts on DUST than long Jnug.

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