I wish you the best possible holiday under the circumstances.
At least there’s finally light at the end of the tunnel, as long as we get to the other side of this black hole on January 21. I’m not entirely sure that we will.
The stock and bond markets also seem to have some doubt.
Of course, shit like that happens when you’re 70 fucking years old, so I don’t know how significant this is.
And I have a sore throat this morning. Is that bullish or bearish?
As gold works on completing an important intermediate low our last round of mining picks are swinging higher. I have added stops to the newer picks and adjusted stops on existing picks to protect profits but give them room to run.
As you know, Dennis Rodman was one of the greatest rebounders in NBA history. Likewise, after his career, he always had the knack of rebounding into the spotlight in strange and mysterious ways.
Meanwhile, back at the stock market, t…
The Fed continues to fund roughly 85% of new Treasury issuance. It affirmed at last week’s FOMC meeting that it won’t cut QE for the foreseeable future, and it will add, if needed. That means that if the Treasury needs to borrow more, the Fed will add more QE.
But it’s now apparent that the Treasury won’t borrow more for the foreseeable future. The new stimulus bill that we now know is about to pass will cost $900 billion. But the Treasury has $1.6 trillion in cash on hand.
This has huge implications for the stock and bond markets.
The story is that the new COVID19 strain discovered in the UK is la raison du jour.
The 5 day cycle projection is so far in the rear view mirror I can’t see it (3650). The 2-3 day cycle projection is 3590.
Oh boy, bears are not going to like this setup. It’s bad. Really bad.
The 10-12 month cycle continues to trend upward against its supposed cyclical down phase. What happens when the next up phase starts?
The Fed’s policy remains stable at about $170 billion per month in QE, give or take a few billion depending on the level of MBS replacements. The balance sheet is growing on trend. The stock market is tracking with it, as usual.
This will lead to a huge problem when the economy begins to react to enlarged stimulus.
This report discusses how to position trading strategy to take advantage.
Here’s what’s scary about the hourly chart of the ES- the S&P fucutures. The 5 day cycle has been in a down phase since the Wednesday-Thursday overnight session. The December 9 high is cleared, and short term resistance seems set at 3717. If they go through that, this thing could go explosively higher.
I watched the dog and pony show yesterday.
Disgraceful dissembling.
Most of the questions and answers were, for our purposes, irrelevant and immaterial. They indicated just how little the Wall Street media subsidiary is interested in getti…