Home > August 2017 > August 9, 2017 Can i just PLEASE have a sell off

August 9, 2017 Can i just PLEASE have a sell off

August 9th, 2017

VIX spiking up over the talk of North Korea/Guam is probably making the historical number of investors who sold puts feeling a bit ill. Downside, the Eur/CHF is dropping so the SNB could come in and buy a bit to try and weaken the Swissy (grrrrrr). Shanghai Futures still had a continued rally in the metals. Government efforts to reduce excess industrial capacity have pushed copper and aluminium prices to near five-year highs. The Chinese Banks were weaker over night with concerns that regulators will continue to clamp down on debt risks. Their % of debt levels have caused grief for other countries in the past …not sure how China can be different? China started to sell Bonds globally to offset all of this..will be interesting to see if there is strong buying? Either way, China has to stop trying to save the world with stimulus spending FINALLY. Second hour of the europe session we have Gold pushing up and our futures down about .30%. Oil is down too after API showed a major build vs an expected draw.

August 2017

  • Trading_Nymph

    According to foreign media: India’s gold imports in July are said to be soaring 143% to 53.4 tonnes

  • panther341

    gold has been hard to trade with the dollar issues this year. gold has been in a trading range whereas the dollar has been going straight down and many expected gold to just go straight up.

  • panther341
  • panther341

    bearish build in gasoline – despite draw in oil. so demand is an issue. http://www.marketwatch.com/story/oil-prices-move-lower-as-geopolitical-tensions-rise-2017-08-09

  • Trading_Nymph

    yet, the SNB isn’t in buying just yet

  • Trading_Nymph

    end of the summer driving season is just around the block too. even though I will be using a lot of the supply on the 10 day TOTAL ECLIPSE TOUR, lol.

  • Trading_Nymph

    India has that wedding season which seems to be very popular again after they took out certain currency note dominations out of the economy. Gold can be a Global Growth or Risk Off play so hard to play to USD for sure, lol.

  • panther341

    That trade hasn’t worked well the last couple of years but it is a beauty when it works!

  • panther341

    well they goosed the large caps – not small caps. And breadth was dreadfully bad.

  • panther341

    Thursday: TN! A sell-off lasted 35 minutes into trading already!

  • panther341

    Wow – lower all day and a weak close. Equities took oil down as well.