US MARKET GOING DOWN
With 1/3 of the S&P reporting this week, we are getting the meat and potatoes on the nastier side of the numbers...
No big Stats this week so the S&P will reveal itself as the big bad wolf
usdcad 1.2375... was 1.1985 on the 16th .. u want volatility?
Current US household valuation ( as indicated by Bank of America loan loss provisions) make a 2009 2010 recovery almost an impossibility.
As traders soon realize bank profits are just acts of FED Largesse. Loan Loss Provisions.
Unemployment in the US is being incorrectly reported as travel into the heartland shows misery everywhere.
LOONIE
the short rise on the loonie probably came after the G20 meeting. Investors saw that Canada was a safe haven for investment and momentum took over. The currency followed but as Energy and commodities rose on overly optimistic expectations, consolidation will occur and the currency will fall with traders moving out and looking for opportunities elsewhere. Expect the recent fall to show a RANGE where you should look to trade 1.19-1.30 and AVOID calls OUTSIDE that range.
GOLD
OK gold is not a short but a HOLD... The US numbers this week will look ugly and Gold will look good again. Seems it trades inversely to the S&P. CEF.A is trading at a 6% premium ... any time it hits below 13 it's a buy...
OIL
Still maintain short will hit low side of range of 44-54 on Expiry tomorrow
CHINA & US Treasuries
Seems China is selling its US treasuries and quietly converting them to stockpiles of non-ferrous metals. While the FED foolishly is buying back their Treasuries to prop up their low yields , the Chinese are getting nice reserves of copper. Now between you and I, What would you rather own, $100BB of copper or $100BB of Fiat currency treasuries?
Good trading to you
DCW
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