Bear in mind, my advice provided to you today is impaired by a heavily medicated and sleep deprived mind. I could give you the long version — but I rather not. Just know that I’m feeling a wee bit under the weather today — drugged up on anti-histamines and DayQuil. I had been nursing three children with the flu and now I’ve gotten something truly dreadful for myself as a reward.
Markets are weak, but oil is not. You should not sell because all sell offs begin with WTI dumping out. Since it’s not, I suspect this fade is short lived. We are seeing a rather robust, if I might be so bold, move higher in gold today. An enterprising man might book profits and be done with it. But men heavily dosed up, sick and ached to the bone will hold his 15% position in NUGT and perhaps even bid for more.
Here’s an interesting piece of information for you. CME futures are now pricing in a December rate CUT.
The ten year is off another 4bps to 2.41%. My TLT is edging higher and everything you thought you knew about bonds is meaningless. Apparently, we can have a roaring economy and lower rates too. How do you like that?
At the present, more than $10 trillion in bonds are now negative yielding on a global basis. I could screen shot and show you the fucking bonds — but you’re too stupid to understand the significance anyway.
It means NOTHING is what I’m trying to tell you — all of it and none of it.If you enjoy the content at iBankCoin, please follow us on Twitter