Certainly something to watch since Obama now has the "green" light to send U.S. navel ships any where he wants in the China Sea. And to think those billion dollar sand castles China built in the China Sea might just end up - Under Water.
So I won't be greedy and just ask for $9 plus tomorrow. Market way way over bought on pure Nothing. And if the Fed comes out with a hit or a rate hike in the near future - Uvxy will be the place to be. Timing is everything. Just ask Hillary.
and we could get that tomorrow. Projection now are saying there will be a Very Large turn out for Brexit vote. And a large turn out means - Remain will likely win - which should push gold lower tomorrow. But since gold is barely move today and Dust and Nugt are in quicksand - I'm thinking Gold doesn't move much tomorrow and no one makes any money playing Nugt or Dust either way. I find that outcome rather odd but today's lack on any movement on these two 3X etf's paints a broad picture of a boring trade tomorrow. Stock markets are doing very well but gold seems have lost its mojo for a while.
The pound trimmed earlier gains in London afternoon trade on Wednesday after a fresh Brexit poll showed the "leave" camp was in the lead by one point. According to the survey by Opinium, 46% of the respondents favor a goodbye to the European Union, while 42% prefer to stay in. "Everything rests on 10% still undecided," the pollster said in a post to Twitter
and who knows how the Brexit election will turn out but if anything I know the uncertainty will roil world markets thus pushing TVIX way, way higher.
and sure the market could have it all wrong but I'd not go long Nugt into tomorrow's vote. Not with the Bull picking up steam and all those Bankers in the U.K. who will vote for "Remain". Nugt sells off into close today and who knows how far down it goes tomorrow. But in Gold's defense - it will be a tight vote in G.B.
And while some see a "Leave" result as a risk-off event that could see gold rally, others see lower prices if the dollar rises and oil falls. Gold is often seen as a hedge against rising inflation. "If investors become overly worried, it is likely that the greenback strengthens with implications for earnings and industry group positioning as precious metals and commodities weaken," Citi analyst Tobias Levkovich said.
This is what jrcumins has been preaching so please don't go long Nugt into Thursday's vote or you could lose you head as well as your wallet.
as gold drops to under $1100 an ounce. You read it here first.
and then we get a No go on Brexit on Friday? Could we see $50 or less come Friday? Yikes
and it all started last Friday. First there was the shooting in England that all of a sudden turn the tide on the Brexit. The "Remain" Side is seriously picking up momentum now. Then Bullard came out and said one rate hike between now and 2018 and gold barely moved. Almost seems as if gold ignored the Bullish Fed member who now appears to be a dove. Then over weekend we get more news the the "Remain" in Europe group is now gaining and might have a good size lead come Tuesday or Wednesday. Gold longs (as I was last week) were hoping the Brexit vote was going to be close but I don't see that happening now. So I see gold dropping all this week even if Yellen is speaking before Congress Tuesday and Wednesday. How long Gold can go I have no idea but now wonder if it will be under $1150 an ounce come Friday after "Remain" in Europe vote wins?
The three "B's" and the reason I threw in Brazil. Hey No Russia Track and Field Team at Rio but that's OK. Brazil might actually default before the games even start. Gold flying higher next week and way way over $1300 an ounce come June 23rd.
And if you listing carefully you can here goldbugs singing in the trees as Gold set to rocket higher.
Which means dollar will weaken going forward as the Fed runs from the thought of rate hikes as Gold pushes over $1300 an ounce and climbs with no limitations.
St. Louis Fed President Jim Bullard, in a significant shift in his outlook for the economy, now says low growth and a very low fed funds rate of just 63 basis points will likely remain in place through 2018.
WOW - Fed just said no rate hike this summer nor fall. If at all very late this year so Gold going forward is will rocket Higher.
Next week Monday close $199, Tuesday close $197, Wednesday close $195 and Thursday close (With Brexit Approval) $189, See the Trend?
Sentiment: Strong Sell