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
19,864 Blog Posts

Trump’s Trade War Yields Another Monstrous Rally

Rinse and repeat.

Modus operandi

Create theatre for the masses via bold statements and outlandish events.
Create a foil and an enemy to distract the plebs from their moribund lives at slave factories.
Leak information, providing heartfelt warmth and comfort to an otherwise abused class of citizenry.
Delay and re-create new drama and theatre, upping angst.
Off conciliatory comments to feign weakness, show flaws that permit the Third Estate to fribble away at you during water cooler chats. Again, more theatre.
Pivot dramatically, catching everyone off guard — make things “more interesting.”
Again, leak news and release statements promising great progress.
Repeat cycle.

News of Trump’s China deal going really well this time has caused another gigantic rally. Yields are shooting higher and gold is plunging. I had a short position against gold that I covered, selling DUST for +7%. I am not selling any longs just yet, but feel this rally might be a bit much, given the lack of actual news associated to it. Nevertheless, markets enjoy going higher. It’s what they do best.

“Warmer feelings than in recent past, more like the Old Days,” Trump tweets.

“I will be meeting with the Vice Premier today. All would like to see something significant happen!” Trump adds.

The two countries could agree to a partial agreement on issues such as currency and agriculture buying.

I’ll be holding off on any new buys until after 3pm.

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