Not Much happening in the Markets Lately
Marijuanna is legal in Canada and the Canadian Pot Stocks Tank.
QQQ dropped 12% in 4 weeks. ( seems worse than that)
Gold Holds up thru the Turmoil BUT the PM Stocks go with the QQQ et al. ( They are Stocks before they are Gold)
Commodity Stocks of all nature are sucking wind.
The Dollar is at Heavy Resistance …Maybe, say the Goldophiles, this is THE Double Top and down she goes.
THIS is the Most Important Chart on the Planet Right now…. UUP (The US Dollar Index ETF)
Mr. Market played the old Double Reverse FBOs !
No wonder we are all confused ………………………………..
Maybe there is one more Important Chart
Here is One Even better to watch IMO. ( First I heard of it was from Rambus)
He is an ETF Hound…he finds some obscure ones ( There’s an ETF for EVERYTHING)
It’s the DOLLAR….BUT Not that Dollar Index Thingy we all follow
A much more Balanced DOLLAR INDEX…the UDSP
It is NOT traded much BUT it does a much better job of tracking the US Dollar vs the rest of the World
The DX ( Dollar Index) Pits the BUCK against a “basket case ” of currencies
About 60% Euro : 10% Yen : 10% Pound : 10% Looney and the other 10% split amongst a few others.
Here is the composition of the USDU …Interestingly named as “The U S Dollar Bullish Fund” an ETF offered on the US Exchange where you can directly bet on the US Dollar Vs the Rest of the World. Basically it measures which is doing better economically . Ha and we have been watching the Buck vs Euro Zone ….as if it matters
There are a lot more currencies to be considered than these two in this global economy
USDU https://www.wisdomtree.com/etfs/currency/usdu
Index Components
…”Holdings”…
Top Cross Currencies
KO South Korean won
JY Japanese yen
PE Mexican peso
EC Euro
CHY Chinese Renminbi
CD Canadian dollar
AD Australian dollar
BP British pound
Anyhow what I came here to ask is..Is anybody making money in this volitile enviornment ?
I figure if you are breaking even you are doing good.
sheesh
Hi Fully,
I wish I could break even. I need the money.
LOL Norwegian. 🙂
Thanks for the laugh
the fast stair stepping last 10 days , I gots neg diverg on 4 indicators , maybe the gong show in usa Making Europe Great Agan? MEGA
LOL too Highroller.
Making the Mexican Peso Great too ?
Impeccable timing Mr Fully!
I just finished writing about the lacklustre performance of Nova Resources, and in doing so praised the AUS miners, so if you do not mind me adding it as a comment here goes…
NB Some of this is “tongue in cheek” and not meant in any way to criticise the trading &/or investing ability of Goldtent members.
“I know little about Nova Resources but I suspect they are, at last, being priced correctly as an exploration company, now that all the excitement has dissipated.
There are several small – medium sized producers in this country that not only produce 200,000+ oz annually but have good resources, funded exploration programmes, make profits, no debt, some pay dividends etc
IMO many of these producers remain undervalued but attract little attention from overseas.
They all whinge about gold stocks on Goldtent, nobody seems to have made any money on gold stocks, many of Spock stocks are in the red, yet a cursory glance at the XGD.AX shows that AUS producers have done pretty well since 2014
Whether you are trading or investing I think that the AUS gold miners represent far better value than many overseas miners that I read about.
Members (of Goldtent) seem to think that because our bath water goes down the plug in the opposite direction, that we are “down under”, and all live in ‘dongas” in the middle of the desert we are not sophisticated enough to understand the basics of gold production.
Here is the weekly chart for SAR.AX
https://www.barchart.com/stocks/quotes/SAR.AX/technical-chart?plot=CANDLE&volume=0&data=WO&density=H&pricesOn=1&asPctChange=0&logscale=0&indicators=WILLR(21,100);SMA(10);SMA(50);STOSL(14,3)&sym=SAR.AX&grid=1&height=500&studyheight=100
This company produces 300,000+ oz gold at A$1,050
Current gold price A$1,740
Are you able to trade international shares as SAR would have been a better proposition than NUGT.
I bought around $1.72 now around $2.50?”
Fully agree, SAR is a growing company with no debt and low cash costs. Others like RRL look nice too. Most miners in GDX are crap and having too much debt. Ideally these successful mid cap players in Australia should merge with other Australian player so investors have better liquidity and diversification.
Very good points, well made.
Short biotech and long volatility…that has been the ticket…from what I can gather, this move has just begun…
Atta Boy Eagle….you have been looking to short for along while…looks like you are catching an impulse GL
USDU found an interesting place to squirt through.
https://www.tradingview.com/x/P4SYxoJO/
Wow…good eye Schiz