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
19,609 Blog Posts

Futures Climb After Chinese Set Yuan Above $7.00

It’s the lowest level since 2008, but investors obviously felt it was benign enough to bid the market, the fuck, higher. I’m telling you right now, I’ve never been this fucking hot. I can’t lose money even if I tried.

Nasdaq futures are +30, yields higher, gold lower. It looks like a classic risk on day, which could get a little crazy. I hope you bought some shit before the bell and avoided shorts.

Truthfully, this whole Chinese nightly yuan fix is beyond asinine, but when has the market ever made sense?

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9 comments

  1. heckler

    Looks like taking your picks inside the FAGBOX, changing your avatar, and getting infected with insect disease is really working out for you Fly!

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  2. snoozemr

    i’ve read some quality articles about lyme sharpening the mind and senses – at least before the second stage kicks in.

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  3. MSGT HARTMAN

    Joe 401k is chortling at the Day Traders while raking in tens of thousands of dollars every month.

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    • numbersgame

      Joe 401k has about $70k invested for retirement. He’s not laughing at anyone.

      That’s why Clinton and Bush were destroyed by Trump in 2016, and why Biden, Warren, and Sanders are leading the Dem field today.

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      • ferd

        Watched Rogan’s Sanders interview last night. Sanders will spend $trillions on college debt forgiveness and free tuition. He will pay for it by “a tax of less than .5%” on stock transactions including “high frequency trades.” So he finances his free stuff by taxing something that will go away due to his tax on it.

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        • numbersgame

          Putting aside the financial holes of his plan (just as Republicans did in their 2018 Tax Cut) and let me ask a question:

          Do you think making HFTs go away is a bad thing?

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  4. trumpmeister

    You buy gold and silver and chill the hell out

    Stop acting like a teenage girl on her period by switching on and off

    The general trend is obvious

    The best move is sometimes to chill out and wait for your opportunity

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  5. Phileo99

    THere’s a hidden US-China trade war doomsday scenario lurking in the shadows that no one is talking about:

    US applies full sanctions a la ZTE against all 3 Chinese Banks, choking them off from any US Dollar transactions:
    https://www.reuters.com/article/us-usa-trade-china-banks/u-s-appeals-court-upholds-ruling-against-chinese-banks-in-north-korea-sanctions-probe-idUSKCN1UQ03U

    In response, China dumps US Treasuries, driving yields (and thereby any loans) through the roof :
    https://www.cnn.com/2019/08/07/business/trade-war-china-treasuries/index.html

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  6. The_Swede

    It’s only a matter of time before the moldy roof caves in. The Chinese do not take prisoners.

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