I'm not sure if that if that popping sound is only in my head or happening in the markets? Is the S&P 500 about to pop following Brexit or will it be Fed-induced liquidity rallies as usual? We are long the S&P 500 via a put option spread but will exit at the first sign of failure. Also, the bond market ETF TLT has pulled back to support.
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Plan Your Trade, and Trade Your Plan,
Todd Gordon
Precious metal expert Michael Ballanger breaks down the gold price roller coaster surrounding the Fed's decision not to raise interest rates.
Janet Yellen just blew all remaining semblances of credibility believed to be still present at the U.S. Federal Reserve Board.
We have all heard for the past month or so that the Fed was going to hike the Fed Funds rate at today's meeting, the anticipation of which caused a rally in the U.S. Dollar (USD) and a surge in stocks - all while the bond market was rallying in response to weakness in the macroeconomic environment.
Well, they didn't raise as predicted back in March because of "China weakness," so today they didn't hike because of "soft exports" and "vulnerabilities in the global economy" and "Brexit worries" and a host of other totally clueless hypothecations. But the bottom line is that they didn't hike because the ensuing dollar rally would impair the collateral that underpins the massive debts owed by governments and homeowners to the banks that hold that debt. Stocks reversed lower when it became clear that the Fed has absolutely zero control over the U.S. economy, and is now truly caught in the headlights because banks are getting killed with the yield curve this "flat," and since the Fed's shareholders ARE "the banks," it takes on an aura of the surreal. Continue reading "The Fed Giveth and the Bullion Banks Taketh Away…"
We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Crude oil futures in the July contract settled last Friday in New York at 49.07 while currently trading at 47.15 a barrel down about $2 for the trading week all based on Great Britain leaving the EU, therefore, sending oil prices lower. Crude oil prices are trading below their 20 but still above their 100-day moving average telling you that the short-term trend is mixed as prices are hovering right near a 6 week low as I don’t like to trade choppy markets. At the current time, I’m sitting on the sidelines waiting for better chart structure to develop as I just don’t know where prices are headed so look at other markets that have stronger trends like the soft commodities. Last week rig counts actually increased for the first time in several months because of the fact that crude oil hit $50, so production is coming back online as that is the problem with this market as the higher prices go, the more production occurs sending prices lower. I think we will remain choppy until the Brexit situation is resolved which is still over a week away. Continue reading "Weekly Futures Recap With Mike Seery"
Options in the macro markets like gold, bonds, and currencies are priced for a disaster heading into "Brexit" Here's a way to play the pumped up volatility in the options market using Fibonacci and Elliott Wave Analysis.
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Plan Your Trade, and Trade Your Plan,
Todd Gordon
George Soros has joined fellow billionaire investors Stan Druckenmiller and Ray Dalios on investing big in gold. Precious metals expert Michael Ballanger explains what is behind these moves.
This week George Soros once again came out with his very large directional "bets" for the SP 500 and for gold and, needless to say, Mr. Soros is once again shorting the SP and buying gold and gold miners, joining Ray Dalio, Stanley Druckenmiller and Michael Ballanger (just kidding) in a decidedly unpopular stance. Carl Icahn came out in agreement during a CNBC interview this week that left the interviewer near-speechless and groveling in the mud of anti-Wall Street rhetoric.
In the meantime, some of the smartest investors I know are SOOOO bullish on gold that they are buying huge baskets of penny explorers under a nickel because of the leverage contained when the public finally decides to re-allocate to include gold (and mining stocks). A fund manager I know said to me, "Must be the top!" in reference to this, but it really can't be the top after a five-month rally representing the largest recorded quarterly advance in mining shares since recordkeeping began.
Look at the chart above and think what would happen if we were to get a shift from bonds to gold; 49% of global asset allocations reside in bonds while 1% reside in gold. Now, consider these two facts: Continue reading "George Soros Making Big Bets on Gold"
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