is... watching & waiting
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
USD slightly green, NG down 2.1% ... $19's Friday shoulda coulda woulda
Smashed her head into 1250 once already, back to 1247, USD slightly green, GDX trading dead center of PM range, short week not expecting anything crazy in either direction but fingers crossed
Nibbled $3.02's Friday
GLTA
Gold $1245, GDX $20.44, Dust $3.21
NG down 1.1% $1.872
The question is how low does it drift after Q euphoria
As Bank of America's FX quant strategist, Vadim Iaralov writes, "ahead of the Fed, the USD was already trending lower against 8 out of 9 G10 currency pairs with GBP being the only exception. The surprisingly-dovish Fed has only further accelerated the decline in the US dollar. The decline started in late January and has occurred during the critical local New York trading hours. The US hours downtrend looks likely to continue in the near future."
What becomes immediately visible when one looks at the chart below is that all of the USD selling in 2016 has taken place during US hours.
This, according to BofA chief FX strategist, Athanasios Vamvakidis means that "the market moves would be consistent with EM central bank interventions."
Perhaps: if true it would suggest that some very notable "EM" central banks (a polite euphemism for the PBOC) have been dumping the USD during US hours, which in turn would explain the coordinated attack against the USD - now with Fed participation - ever since the Shanghai G-20 meeting (although it would not explain why Japan or Europe would be willing to piggyback on this trade as while China wants a weaker dollar, Europe and Japan want the USD as strong as possible).
Whatever the reason, and whoever may be causing this odd temporal divergence, thanks to BofA's observation an interesting arb emerges: buy the USD during Asia and UK hours, and sell during the US day, sit back and collect the profit.
Then again, now that this trade has been exposed and every FX trader sure to jump on it, we would expect precisely the opposite to take place: dollar strength during US hours offset by weakness during the rest of the trading day. We will update readers when the temporal regime changes, which we are confident it will in the not too distant future.
http://www.zerohedge.com/news/2016-03-19/strange-pattern-emerges-when-trading-us-dollar-2016
From rags to riches to rags... A melancholy interpretation that
Lol with China and Draghi strengthening USD every other week ... what're we counting on to drive the dollar lower at this point?
The Fed can sit on their hands and the dollar rise; this weakening USD commodity euphoria does not end well
XIV $28? So S&P to 2150..
Set her down right on a 2050 close for an extra nauseating weekend... perfect
Certainly looks that way.. I keep coming back to - is all that money on the sideline that dumb? Could that many people be missing the portion of what.. an 8 year bull market? 9? 10? Is this the one that doesn't quit? And does anybody have a long position they want to start, or add to, at these levels?
I just don't know who's telling clients.. buy today
At that point it'd seem like the retrace to 1810 talk would subside and 2000, 2020, 2050 hold us up short term... it still feels like someone could sneeze and the S&P drops 30 handles but the feeling's waning
2070's my line in the sand... and it looks like I should believe it'll come into play
I won't be ready to go long equities, once we've all the thought they'll pull a rug, I'll throw my hands up, take a loss, and likely a break from the market to reconsider
Low volume with commodities in the driver's seat
$19's are tempting to ride into Summer.. $1.95/$2.00 ahead historic lows below injections next week - crazy to consider fundamentals I know
Testing that 1250 support early..and bouncing - USD giving up it's morning gains
BTCS Launches Ethereum Pilot Program
US, March 17, 2016 at 22:22 GMT
Arlington, VA – (Marketwired – March 17, 2016) – BTCS Inc. (OTCQB: BTCS) (“BTCS” or the “Company”), a blockchain technology focused company which secures the blockchain through its transaction verification services business, is launching a pilot program to begin securing Ethereum’s blockchain.
Ethereum is a digital currency and blockchain platform focused on smart contract applications. Like bitcoin-based blockchain technologies, the decentralized network of Ethereum enables transactions without downtime, censorship, fraud, or third-party interference. Since early February, the value of Ether, the digital token or fuel that powers the Ethereum network, in USD terms, has grown at a 500% annual growth rate with the total value of all Ether, or market cap of Ether, surpassing $1 billion.
“As the first U.S. publicly-traded blockchain-focused company we want to provide our investors diversified exposure to digital currencies and blockchain technologies,” stated Charles Allen, CEO of BTCS. “Given the recent success of Ethereum and the growing interest from major players in tech and finance, we believe it’s an ideal time to launch a pilot program. With the capacity expansion we completed at our North Carolina facility in 2015, we’re well-positioned to scale operations when necessary, even as we continue to ramp our current bitcoin-focused transaction verification operations.”
Ethereum has garnered growing support since its launch in 2014, including projects with Microsoft and IBM. The recent launch of the first production release, Homestead, is set to make Ethereum a blockchain technology that will be integral to future smart contract based products.
Commenting on the launch of Ehereum’s first production release, Andrew Keys, co-founder of decentralized application development firm ConsenSys Enterprise, told CoinDesk, “Homestead's arrival will begin to demonstrate the next generation of blockchain technology, whereby anything we can dream of, can be accomplished in a decentralized manner using Ethereum.”
“Like many others, we’re excited for the prospects of Ethereum,” continued Allen. “While Ethereum is focused on smart contracts, it’s important to note that there are currently numerous companies working on solutions to build smart contracts on bitcoin’s blockchain, leveraging the deep security provided by its more established and secure blockchain.”
In addition to the pilot program, BTCS has secured a Ethereum-mining hosting contract. The contract uses approximately 50 kilowatts of the Company’s 3 megawatt capacity.
http://www.coindesk.com/press-releases/btcs-launches-ethereum-pilot-program/
Oversold to overbought in a flash, well done Jellin.. Commodities loving the weak USD... Any chance this ends well?
$0.35-$0.38
Close eyes and go long equities
USD is the last safe harbor w sweet ol Janice at the helm imo
Gold/oil the whole commodity trade is now a bet against the dollar
Pray for QE and negative rates abroad
USD's only hope is continued negative rates abroad
Convenient
Na, Kal's quote from the article... What's the money for?
The plan for the funds raised would've been nice... how long can the same pumping dialogue energize the share base?
Kal Malhi, President of Cannabix stated, "Drugged Driving is quickly replacing drunk driving as the leading cause of fatal collisions and law enforcement is in urgent need of a scientific tool to help enforce road safety from drug impaired drivers."
http://www.stockhouse.com/news/press-releases/2016/03/16/cannabix-technologies-raises-2-1-million-to-advance-development-of-portable
Not holding .. before buying, for a third time this March.
Short US equities
Trying to be patient.. QE abroad but Janice won't reaffirm the obvious again for four weeks - if there ever were a time for a run at 1300...
GDX approaching 52 week high $21.25, $21.58, $21.87 come into play if Gold can get through 1280 this time... a lot of QE over the bay but four weeks away from Yellin telling us what we already know again, this may be its chance
I love Guy, CNBC's Fast Money, front-running GDX everytime it has an up day. I imagine the innocent souls that lookup the ticker to see it went up 2-5% the days he mentions thinking that's normal. He didn't say boo about it the past week as it fell from $20.20 to $18.9 again.
There's a list of people to scared to touch this... and I'm on it, but congrats to anyone that's scalping this NG euphoria
Hmm if not oil, what will the market find to be happy about today...
Bingo... Nothing matters. A hint of USD, perhaps.
Fairy dust to all us - GL
My thoughts exactly.. Given the terrible news for the USD, the channel is still in relatively perfect form, gold 1220-1280, GDX $18.9-$21.0.
Testing the top again now, today's screaming for new GDX 52 week highs [$21.25] just have to see if gold smashes its head into $1278-1280 again and break through this time.
My concern is Gold is now the ideal trade for Yellin being trapped in a box.. the USD needs Peter Pan or more QE abroad to strengthen. The multi dollar runs have come n gone imo... money to be made flipping the range until an RS regardless
$6 and rising, WTI and the broader market parting ways
Gives it all back up and finishes red... cool they're not moving lol but they are going to move this year. The market's thought it was sandy beaches and pretty women, but the reality is the FOMC is moving, ECB/China/Japan is going the opposite way. There's an elephant in the room indices haven't noted.
The best/expected news and Dow only up 25 points ... telling imo, Gold failing at 1250 ... could be a lose lose day
S&P 3000... who knows
No hike, expectations for 4 reduced to 2 ... gold up $15 in a hurry - recovery of 1250 would be a bigger story
There's that 200 DMA ... let's see how many they caught
No hike, expectations reduced from 4 to 2 this year.. gold up $15 in a hurry but hasn't recovered 1250 - could give it all back up equally as fast
Gold to Unch right before the announcement - this'll be good
Fine trigger finger that ... well done. The 'No rate hike' pump headlines circulate, pulls back, only to drift as Jellin tells us April is live.
Reduce projections from 4 hikes to 3... but do her best to describe her cookie recipe and prep the market, which currently prices in a single increase, for a bit harsher reality
In $6.04
Meanwhile the VIX can't find a bid