Gold up $10 and change and Nugt way way off its highs. I'm going to say today was some crazy bot controlled day where Nugt should be over $116 yet the Bots fouled things up. In any case the short/long term trend should be higher since every where I look all economies are weak as kittens and Yellen's board will tell her do nothing for next several months. Hope we go major Green tomorrow and push over $1300 an ounce this week.
and when you read heading like above - you know (long) Nugt is the place to be,
May's poor U.S. employment report could trigger an interest rate cut, according to one contrarian investor—a move that would upend the Federal Reserve's plans for policy normalization."I'm not convinced the Fed will hike at all; in fact their next move might be a rate cut rather than a hike," Nicholas Ferres, investment director of global asset allocation at Eastspring Investments, told CNBC's Asia Squawk Box on Monday.
Yep if you live on the West Coast. Question now is how far will oil fall before Opec calls another Bogus meeting to discuss increased oil production?
Right now Warren is Gold and the "true leader" of the Democratic party but one has to wonder if she receives/accepts the Vice President position if she might start to grow horns and become the devil over night taking marching orders from Crooked Hillary day in day out.
as in the "Winning" play if your long gold/nugt as more and more worldwide financial news reinforces the "FACT" that the Fed cannot raise rates this summer or fall. With the Fed out of the Picture Gold has room to run, way, way Higher.
since the market is now scared of:
Future rate hike
Trump or Hillary (freak out)
20 Trillion in Debt
Oil (up or down)?
Fed out of bullets and hiding
Yep time to go long Volatility or miss the train.
IMF says world economies weakening
U.S. Federal Deficit headed for 20 Trillion
China Economy Implosion happens this summer
China Red Sea confrontation happens this summer
Fed Board is disarray - can't shoot straight but Dove feathers growing
November election - very scary
Brexit this month very scary
Stock market over bought - stalled at all time high
Russia aggression Ukraine, Baltic States, U.S. airspace
I could go on and on but it does seem the right time to go long Gold, Gold Miners and Gold ETF's.
followed closely by the Hillary/Donald circus that will end in an awful Train Wreck come November. Forget Spy guys and go long Gold since the Fed is out of bullets while gold gets ready to ramp higher well into 2016.
as everyone pushes more stimulus, says goodbye to rate hike (permanently) and reports "phony" numbers just like China. And with the IMF painting a very gloomy picture going forward Yellen has no chance to raise rates this summer much less this year. Spy set to free fall as world economies stall but Gold set to Ramp Higher.
cause IMF say worldwide growth slowing rapidly. As far as I'm concerned Yellen's Dove wings are clipped now and she ain't flying anywhere. Much less raising rates this summer, fall or winter.
as Nugt get sets to explode toward $200 a share as Yellen says "Fed Wont' Raise Rates this Year".
No she can't and she won't change the colors of her Dovish feathers. Question is does the market think the Fed has lost - thus gold goes to the moon or if the market falsely thinks the Fed still has bullets left to hold down the fort?
Federal Reserve Bank of Atlanta President Dennis Lockhart said the central bank should wait until at least next month to consider raising interest rates because of a slowing labor market and the British vote on European Union membership, adding his voice to the argument for a delay ahead of a speech by Chair Janet Yellen.
as world volatility spikes as the dollar weakens. Gold for all intents and purposes is now a "Strong Buy" for all of 2016.
and Brainard is more dovish then Yellen (if you can believe that) so she will push for no rate hike this summer or fall. Then Yellen hits the tape on Monday and says "No Rate Hikes This Summer" as gold screams HIGHER.
Still think we close over $80 today and hit $90 plus tomorrow. China economy slowing down as all of OPEC increases oil production.