I had a nice blend of VIX and other things working today and at the peak saw my gains at 1.8% and the an array of cross currents took the market all over the place, from shippers to gold to Chinese stocks and to and out of oils. It was too much and because I had gains, mostly thanks to my big position in UVXY — I decided to close it all out, save one oil stock.
With a lull in news, there is a distinct chance we can gun higher intra-day. I would rather not bet on it or against it, so instead I will choose to position for tomorrow.
Plainly, the market WANTS higher, but these news items are in the way. Let’s not even discuss the earnings reports which keep coming out bad. It does not matter. All that matters is the price action after the fact and we are buoyed all the time by tera-cap monopolies. The rhetoric out of Russia is war like, literally.
Russia 'will be forced to respond, including with military-technical measures,' if no US security guarantees: Russian foreign ministry *
— The_Real_Fly (@The_Real_Fly) February 17, 2022
It seems the market digested it and now is calling Russia’s bluff. It’s 11am and how we end at 4pm is all that matters. For now, I am out.
If you enjoy the content at iBankCoin, please follow us on Twitter
This is what happens when you don’t have a president who performs anilingus on Putin the diva on a regular basis. Attention whoring at its finest.
When small countries talk like this it may indicate a perceived decline of power.
Senators Jim Risch, Bill Cassidy and Bob Mendez introduced the Accountability for Cryptocurrency in El Salvador (ACES) Act
the bill seeks to determine the potential for crypto to circumvent US sanctions
and seeks a plan to “mitigate potential risks to the US financial system.”
Cassidy, “If the United States wishes to combat money laundering and preserve the role of the dollar as a reserve currency of the world, we must tackle this issue head-on.”
El Salvador’s President Nayib Bukele labeled the senators “boomers” and said they had zero jurisdiction over a “sovereign and independent nation.”
“We are not your colony, your back yard or your front yard. Stay out of our internal affairs. Don’t try to control something you can’t control,” Bukele tweeted.