Don't think I want to be long NUGT when that happens on Dec. 16 since NUGT could drop 30% in the flash of an eye.
Man - you ever see a stock ramp higher on bad news? I mean CMG investors must be giddy that Boston scare was just little old Norovirus. Of course the majority of other heath issues at CMG are E Coli related, but who the "F' cares. CMG go up on bad news and if by some unfortunate situation a few CMG customers die from eating Chipotle food - I'm sure the stock will race over $1000 a share and keep climbing.
What a JOKE
and the "market" doesn't like that one bit. Last Friday's big UP day is now in the past and we are now back to Fed Interest Rate Count down - which could bring a very size able correction over the next few trading days,
but at least you can heat your home on cheap oil and still get gold crowns for your teeth.
Your not the only one confused about today's direction of gold. If anything today's NFP number forced the Fed to act on Dec. 16 - raising rates. Why gold up up is beyond me since I see nothing on the radar to push it up. Furthermore Dust and JDST traded down yesterday so two down days in a row is puzzling.
Simply because the Fed is going to raise rates going forward and Brazil, China and all the rest of the emerging markets TANK.
and we all hope and pray they wake up tomorrow and sell their losing position in Spy, since its now projected Spy falls to low $160's by the end of the year.
Markets will sell down every day as we move closer to Dec. 16th, but idiot spy longs still believe the "FED" is their friend. HA Yellen is now Scrooge and in two weeks or so - all SPY longs get a lump of coal in their stocking and a $180 falling ETF.
Run the risk that market could go green tomorrow on ECB stimulus news, but I think the smell of good non-farm payroll numbers come Friday will #$%$ the market over night and send it down tomorrow and then a HUGE sell off Friday. Overseas markets will tumble, so Europe action tomorrow might be non-factor as the "Bull" gets ready to be slaughtered.
and you know right now Yellen is checker her Fed retirement plan, making sure she is "short gold". Never fight the Fed especially in front of a HUGE December rate hike.
and possibly an easy triple move higher for little RUSS. Opec (Saudi) will keep pumping oil as fast as they can to keep their market share. Iran about to flood world oil markets with more cheap oil. And Put now fights two wars in Ukraine and Syria, as the Ruble reaches junk status while Russian citizens start walking to Europe for a better way of life.
Who cares - since they both fall through the floor and head deep into the dark basement as the Fed approached rate hike "D" day.
as she smiles and says "rate hikes" are coming.
and I do think at some point the market wakes up from its happy dream and realizes everything is not looking (good) going forward.