Loading ...Slowly, At First – Then All At Once
In my weekend piece “Black Swan Weekend” I posited that while the first part of my Two Themes had begun immediately with the new year, the two, weren’t yet correlated. Now, as the NASDAQ 100 continues to get pummeled, we are on the cusp of the second theme kicking in. The money has to go somewhere and that somewhere is into gold and silver. It looks like it will start to trickle in this week and become a cascade in the weeks and months to come. This is only week three of 2022, let the fun begin.
The lower objectives should be met, but it will likely encompass 2-3 wild swings getting there. Today is one of them. It will be a challenge to navigate.
What are you lower targets?
For the NDX should see the 200 day at 15000 and maybe a gap fill around 14800. No specific timing as to when. Will go lower after a bounce from there.
Trying to play the day to day swings is always “challenging”. I put my “two themes” positions on the morning of the FED announcement and will be taking profits, this week and going forward.Get right and sit tight.
Sir CM,
“Slowly first … then all at once” … trying to connect the dots of the significance of today’s “news” … 10-year yield hits 1.856 % … as a start reminder it was at an intra day low of 1.343 % on December 3rd 2021. Just 46 calendar days ago!
https://www.zerohedge.com/markets/fed-cancels-bond-buying-plan-today-blames-technical-difficulties
The New York Fed just issued a statement that is is rescheduling today’s planned Treasury Purchase due to “technical difficulties”:
Due to technical difficulties, today’s Treasury outright purchase operation – scheduled for 10:10 AM in the 4.5 to 7 year sector for up to $6.025 billion – is being rescheduled.
It is now scheduled to take place Wednesday, January 19, 2022 at 10:10 AM. Information on Treasury securities operations can be found on the New York Fed’s webpage.
This does not impact any other operations scheduled for today.
GL
I don’t pay much attention to bond auctions but that is the first time I can remember pushing it off a day because of “technical issues”. Could be euphorism for not enough bids. The higher rates should attract interest but maybe the usual players wanted to see how much higher short term rates could pop?