I mainly trade options. Yes, the banks had record quarters as the world burned. The fed has been doing their repo program and dumping money into the system.Technicals are out the window at this point and its just about not fighting the fed pump.
The entire system is broken. They continue to blow air into an already over inflated balloon. I'm normally not too pessimistic but the free market is no longer free and I just don't see how it can be fixed. The shti of it is the middle class will bear the brunt of the entire collapse while the corps will reap the rewards by bonuses paid by the tax payer bailouts (Airlines, Defense).
Trump is a complete moron. He campaigned on how the numbers were fake (true) and the day he took office they magically were correct. He wants negative interest rates and only gives a shti about the stock market. Our debt has exploded but fuk the debt right now. We will clutch our pearls when the left takes office.
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07-17-2020, 11:49 AM #31
- Join Date: Jul 2011
- Location: New York, United States
- Posts: 15,251
- Rep Power: 123365
Last edited by Jtbny; 07-17-2020 at 11:59 AM.
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/ \ Don't care what you do crew.
Former natty ☠ 101- lift heavy things consistently over time as often as you can recover from.
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07-17-2020, 12:49 PM #32
BINGO!!
Now you sound like me.
Look into precious metals. When I started preaching 'stack the shiny', silver was $14 an ounce and gold was below $1300 an ounce. Now silver is approaching $20 an ounce and gold $1900 an ounce.
Here:
www.usdebtclock.org
It's my quick go-to reference.
There is reason why banks have been suppressing the price of gold and silver for decades. It's because they are money and they want the dollar to be the dominant currency.
Look at the M2 money supply. If there were a true price discovery mechanism, which we don't as you already know, silver should be over $3000 and gold should be over $31,000 an ounce, based on M2.
And I'm not talking about paper gold and silver. I am talking physical gold and silver.
But since you are already familiar with trading, you should also consider mining stocks. Historically, when physical gold and silver go up, mining stocks go up TIMES FOUR.This above all..
To thine ownself be true..
And it must follow, as the night the day..
Thou can'st not then be false to any man..
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Bros, my Weightlifters and Powerlifters are my credentials.
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07-17-2020, 12:58 PM #33
- Join Date: Jul 2011
- Location: New York, United States
- Posts: 15,251
- Rep Power: 123365
I've looked into both. I'm already doing what you said and riding the wave by playing their game. I have been caught in some black swan days but I've managed to eek out steady profits even now. Its all uneasy though as I know the bottom will fall out. My guess is Oct depending on the polls and if Trump loses we are in for a rollercoster on the market. I plan on being all cash by end of Sept.
But until then, the fed will continue to buy treasuries (another 20 billion this week alone) and spend about 3 trillion since Feb by Nov. The market will continue to offer good opportunities while that continues. We all should be pissed off about 3 trillion being dumped into corps while they argue over another stimulus to help the actual people. Everyday I hate the system even more as I see constant corruption and manipulation happening in plain sight. Wont even talk about the bio stocks that the admin keeps pumping and dumping.
You're right, I'm sounding like you :P☻/
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/ \ Don't care what you do crew.
Former natty ☠ 101- lift heavy things consistently over time as often as you can recover from.
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