That's how weak the dollar is... The dollar has already rallied for years based on a lie. Based on a false understanding of the true state of the US economy and the direction of FED monetary policy, interest rates, quantitative easing, etc.. The dollar really did not rally as a result of Brexit... so the next thing that's going to happen is it's going to fall and it's going to fall hard and that will unravel this paradigm.
Definitely. There's a good chance this up-move is a fib retracement preceding the next leg down. Current trade looks like the same old black box/algo baby steps we've been seeing over and over again; when the markets exhaust by failing to make new highs a massive sell signal will trigger wiping out the entire advance within days possibly hours... Fully expect to see new lows very soon. JMO
Holding the majority of short positions as the reward potential is astronomical, worth the risk, and cannot be passed up... If global equity markets stabilize short positions will be decimated conversely a total loss of control will likely lead world markets into a crash 87 style. Bottom line; the possibility of a stock market crash near term is 'on the table'; risk on.
Adding UVXY September call options today; also long UVXY July Calls, QQQ Sep puts, & SQQQ SEP Calls, VXX calls etc... Believe US equities nearing exhaustion... No BREXIT and no FED action in July are more NEWS to SELL. All time highs for US markets 'if/when' it occurs would be the last bull run for US equities and a historical selling opportunity.
Definitely vulnerable and reminiscent of December 2015. Another waterfall decline could be days away. And what can the FED do about it? Not much.
Question marks (?) aren't convincing but with TA you just never know. Seasoned analysts projecting a possible Elliot wave 3 down and if correct basically means equity markets are on the brink of an ultra aggressive decline phase. This is the type of move that can make the masses believe stocks are going to zero; VIX peak usually signifies final capitulation prior to a transition into corrective wave 4.
Goldman Sachs March 28th 2000 Abby Cohen announces at market at all time highs, "Warning: clients should reallocate some of their holdings from stock to cash." Today, May 18th 2016, Goldman Sachs downgrades stocks. "Goldman Sachs strategists say stocks do not look attractive due to earnings growth and valuation concerns.. Until we see sustained signals of growth recovery, we do not feel comfortable taking equity risk, particularly as valuations are near peak levels," In this environment, the analysts recommend being overweight cash and 5-year corporate bonds."
Perhaps, however seems the forces that be could not stop the waterfall declines on 8/18/15 ~ 11% drop in 5 sessions (SPX 8/18/15 2103 to 8/25/16 1867) and 12/30/15 ~ 13% drop in 14 sessions (SPX 2077 12/30/15 to 1812 1/20/16). Logically since rapid double digit % declines have occurred in the recent past implies that they could occur in the near term future possibly meeting and/or exceeding El-Erian's percentage/time 'correction' estimates. Kindest regards...
Virtually an uninterrupted advance since 2/11/16 (181.09 to 210.92) ~ 16% in 3 months would seem a correction is overdue. On March 24th El-Erian called for a 10% decline in coming months; seems that prediction can still play out.
Yup that's how it goes sometimes just when you think the market is heading to the moon it dive-bombs. Closing prices key; a reversal of todays up-move intraday hugely bleak for the bulls....
of course no one is there.
Douglas Evans - Chairman and CEO
Mr. Evans (BA,MBA) spent 25 years in the Canadian Forces as a pilot and staff officer to the Minister of National Defense. Since his retirement from military service, he has served as president and director of a number of public and private companies involved in their financing and development in the mining and technology sectors for the past 17 years.
James Spence Stewart – Director and Secretary
Mr. Stewart (BA, LLB,QC) is an attorney who has worked 20 years as litigation counsel, 10 years as civil and criminal counsel to the Attorney General of Ontario and Canada; 5 years as Secretary & General Counsel to a large development firm, and was appointed to the Queen’s Counsel.
Dinesh Parakh - Director
Dinesh Parakh BA; Master of Arts(International Relations) and Juris Doctor(law). For the last several years, he has worked for the United Nations in South Africa as a program officer for the World Food Program and as a program specialist for the Development Program. His expertise is in policy development and analysis, project management, legal analysis and financial operations.
Bill Boberg - Director of Exploration and Geology
Geologist Bill Boberg will serve as Director of Exploration and Geology. He brings 35 years of experience in investigating, assessing and developing a wide variety of mineral resources in a broad range of geologic environment in western North America and Africa.
Hendrik Veldhuyzen - Consulting Geologist
Mr. Veldhuyzen (BSC,MSC) is a professional geologist registered with the Association of Professional Engineers and Geoscientists of Newfoundland and L'Ordre des Geologues du Quebec. He has 27 years of full time international field work with a variety of worldwide corporations.