Awesome and informative video again @marketreport. You are one of the few big stock traders accounts on Steemit. If you are interested we started a Discord(chat channel) for traders on Steemit. We would be pleased if you joined here;). And keep making awesome videos!
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Sure. I will check it out.
Thanks, we are chatting about stock- and crypto trading. It's a platform where experienced and inexperienced traders can meet.
Oh, forgot the UUP chart...getting real close now. Looks like long term bond rates getting ready to move down soon too. Once again the banks "failed" to breach previusly set highs that need to get taken out. Kinda reminds you of gold and silver...no? :-)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=uup&x=52&y=11&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
"Not quite" a new low for the year on UUP yet. Getting close though. QQQ sell signal triggered at teh close too btw. I might have a new short entry on the open if the QQ's opens at 139.20+ and would "expect" a 100% gain on it. I figger I will have my SLV short tomorrow...as well as a "long the dollah!" call besides. So watch for that. :-)
OK, the answer to your question on the dollar. First and foremost, the Fed will have "zero" influence going forward on the markets...and I mean ANY market >>> oil, natgas, gold, silver, dollar, stocks. The next time the Fed actually influences the markets will be with a rate cut to help prop up the market. And once that happens it will likely have an opposite affect than the intended affect. If teh SPX is down 30% from the 52 week high and the Fed decides to begin lowering rates (which they will do before they ever think of QE4), the markets will take that as an "ut oh!" moment. Sooo the "real" reason for the dollar weakness is simple market forces at work. So then it is just a matter of using short term sentiment indicators to help decipher things. I have my own sentiment gauges I use. I would say this. if you were to ask your 4000 followers >>> Dollar, peeps...lower or higher from here? I bet 3900 of themn would say looower. And THAT falls right into my wheelhouse as the makings of a GRRREAT trade. You do know I am a "true" contrarian I hope, Greg. :-) Honestly though, take the Fed completely out of the equation. I have been telling this same thing to Peter Schiff for months now...and he "finally" threw in teh towel and admitted that Janet Yellen is a bigger man than he is. Of course he qualifed that by saying >>> "Well, I was only going by what she was telling me she was going to do." Any wonder why he's been getting his ass kicked for years now? And he's back at it again! Blaming the fed for everything. I'm gonna make Peter Schiff "beg" Janet to QE before I'm finished with the goldbugs. At gold $750 sometime next year Petey will be crying >>> "Please Janet! I'm sorry for everything I said about you. Please QE already so that I don't lose my remaining 100 Utube subs I gots left!" LOL
@joejustjoe, you are posting indirectly under the post and directly under my comment ;). I think your comment is not meant for me.
I'm sure Greg will see it. I have been spewing my thoughts because many times my thought are contrary to his....and he did just ask for an explanation why I would not be short the dollar here. Sorry about that. :-)