and so the sell off begins and "sell in May and go away kicks in" while Presidential election gets really, really ugly just as Yellen says "The Fed "F" Up".
Isn't it nice to have the Fed by your side with the "Perfect Storm" approaching,
and says "no rate hike coming as far as the eye can see". Yellen becoming more of a Super Dove day by day as the Dollar weakens and gold scream higher.
since Yellen might not raise rates this year as the U.S. economy starts to falter and recession worries kick in. GDX sure looks like an easy double to me this year - if not more.
so if your smart you will leave Spy and go long KGC, ABX, GDX, GLD. With the "FED" now out of the picture, the dollar weakening daily and world turmoil spiking - Gold is set to rocket to new highs. Back to $1500 an ounce before you knew what hit you and then we move higher.
Falling now as everyone "sells their long" position" and gets ready for WHIPLASH.
Yellen won't raise rates this year because the porridge is too "cold" As in coming Recession Cold. Opec now flowing world markets with more oil as Saudi Arabia and Russia try to gain more oil market share. Its going to get ugly for Oil Bulls. Lastly, China more interested in starting "WAR" in China Sea then printing phony economic numbers to fool the common man. China Bubble will burst this year if not early Summer as everyone knows China is a 'smoke and mirrors" country.
Well this should be good for a $20 jump in Gold come Monday if not more. Also wonder how oil reacts?
Hundreds of supporters of Shi'ite Muslim cleric Moqtada al-Sadr stormed into Baghdad's Green Zone and broke into the Iraqi parliament building. The protesters, who had gathered outside the heavily fortified district, known as the Green Zone, crossed a bridge over the Tigris River chanting: 'The cowards ran away!' in apparent reference to departing lawmakers before breaking into the parliament building.The staggering scenes came after Sadr denounced Iraq's politicians' for their failure to reform a political quota system blamed for rampant corruption.
Agree and I think manufacturing data will come in weak this week pushing the dollar lower and ramping gold higher. KGC should clear $6 at market open and possibly close around $6.25. All arrows point higher as we march towards ugly non-payroll number Friday.
Going forward this week ISM manufacturing forecast will not be good and then you throw in a drop in Friday's non-farm payroll numbers and Nugt could be screaming to $200 a share, Gold should do very, very well going forward.
Cooler weather and possible rain forecast for the Canadian city overwhelmed by wildfire offered hope on Thursday that controlling the blaze could become easier, after worsening conditions forced new evacuations south of town. Fire officials now feel they can have the wildfire under control by the weekend, if not earlier.
Could be yesterday's news by tomorrow as oil sells off as the fire goes out.
but after bad non-farm payroll numbers at 9:30 am Uwti open at $25 a share and fall (hard) through the day. With Uncle Sam going into a possible recession - you know oil storage levels will build and reach capacity by summer. Oil heading South for the rest of the YEAR.
and locals say oil pipe lines will start up soon, since the worst could be over.
and locals say that within a day or two oil pipeline will be back to normal in Alberta. Boy Uwti could really drop hard tomorrow if Ft. McMurray moves off the radar and then the non-farm payroll number misses. Slowing U.S. economy while all of Open pumps full out 24/7.
and this is going to roil world markets tomorrow since Ryan is the "Strongest" Republican his side of the Atlantic and it appears he and Trump are headed for a Major Confrontation.
and that's a conservative estimate. Be careful here oil longs because if the U.S. economy is slow - oil then is "Dead Man Walking".
She open $27 and change but closes under $25. Everyone taking profits now knowing oil is going to fall as all of OPEC pumps at ALL TIME HIGHS. So long $40 a barrel and hello low $30 a barrel.