Wierd thing is thats sorta old news. And supposedly japan has been adding liquidity for last couple a weeks. They got afraid of what they started. Id think Hedge funds cant see the long side working now. So they are selling and shorting, Thats already a double wammy. then ya ad in all the people who climbed on board for last year . Hey they were so sure markets never go down. Theyre selling The one ray of hope... ive heard a few technical people looking to thurs for a bottom. Buying begats buying... Now selling begats selling. Fear to greed back to fear again. Now what?
I guess I'm wrong shorting the market, shorting the dollar and being long on the unhedged miners. I would think they would all work together in that combo given the problem way things are being run right now and for years for that matter.
Will there ever be a case when Gold doesn't drop on an interest rate hike, how can they ever stop hiking?
Today is the first time I have EVER watched Cramer, is that a dog and pony show or what. Do people really use their money with this type of show. Cramer ought to take up where SOUPY SALES left off!!
That's what Art Cashin said also. Lots of liquidation is going on, that's for sure. Look at the oil stocks today. Crude still up around 70 but they are getting hammered day after day just like the gold stocks.
He basically said that the Japanese yen carry trade was unwinding. The hedge funds had borrowed yen at low rates on margin and bought hot money sectors like oil, gold, tech stocks etc. Now, Japan is removing the easy money, forcing the hedge funds to sell those assets in order to repay the loans. The result is the continuing selloff we are seeing. He also said he doesn't think we've hit bottom yet.