Yes and Gold, and Euro dropping against Dollar. GLD could see a "big" down day tomorrow as gold bugs throw up their hands and say "So Long Gold For Good".
Every time the Fed has hinted at raising rates the market has had a huge sell off. This is a proven fact over the last few years. But now in front of a pending Yellen move to remove "reasonable" waiting period to 2015 rate hike the market seems to think things are just great. Could we actually see the Dow up 200 points with the Fed saying "interest rate party is over so no more jungle juice to drink". What's up is down and vice versa.
Sure looks like Yellen will raise rates come May - June but Russia is definitely going to have to dump gold holdings to hold off total collapse of their economy. Read on and realize Gold could fall under $1000 an ounce in the flash of an eye.
“Russia is at a critical juncture and given the sanctions placed upon them and the rapid decline in oil prices, they will be forced to dip into their gold reserves,” Kevin Mahn, who oversees $150 million at Parsippany, New Jersey-based Hennion & Walsh Asset Management. “If that happens it will push gold way lower.
and send GLD way, way down after 2 pm report today. Gold freaks out when anyone mentions higher interest rates and you know higher rates are coming in 2015.
and if not red today, surely major red tomorrow. Fed forced to act like an adult now or look like a baby with dirty diapers if its business as usual.
$33 plus and climbing but tomorrow easily over $63 a share if the Fed tell market rate cut coming mid-2015. Which in turn will push King Dollar higher. Short GLD if you want but Dust (long) is where the action is.
and I wouldn't be surprise to see GLD trading down around $100 tomorrow after the Fed removes "reasonable" from its pending interest rate hikes.
Cause the market knows "bad" things coming tomorrow like govt. shutdown, Greece asks for billions in Euro loans and Ukraine files for bankruptcy. Lions, tigers and bears, Oh My
and this time Obama might need to hire ADT to cover W.H. security since Secret Service might just walk.
take your pick
and Pelosi knocked him down with a massive upper cut.
The "Bull" also knows he gets slaughtered next week when Yellen says "So long [considerable delay] and Hello rate hike by early summer 2015.
and gold crumbles. Just a few days away, but gold will drop going into Fed minutes. Furthermore as the U.S. economy strengthens we could see a rate hike before mid-2015. Maybe even in Spring which is just a few months away. JDST and Dust easy doubles - maybe triple upside by Mach 2015
Islamic State of Iraq and Syria (ISIS) militants launched an attack overnight against the last major Syrian military air base in the eastern province of Deir Ezzor, the Associated Press reported activists as saying on Thursday. he Local Coordination Committees activist collective and the Britain-based Syrian Observatory for Human Rights both reported the fighting for the airfield, which is just outside of the city of Deir Ezzor on the Euphrates River. ISIS group already controls almost the entire surrounding province as part of its self-declared proto-state in Syria and Iraq.
and once ISIS takes out last air base in Syria then set their sights on Iraq oil, Baghdad and then little Kuwait. ISIS now on the move and oil will feel the upward pressure.