Doozy Of A Day In Economics
Crypto’s are getting smashed like Ariana Grande at a 2007 illuminati butterfly party. I’ve yet to see a good catalyst for this downmove. I’m of the mind that crypto will be beat up & held down until the bigger markets pop & shed many many trillions.
That could easily happen in another month when the Fed waves it’s magic interest rate hike wand & the weight of debt gets exponentially heavier. US indices have been very weak the last 6 weeks, they don’t like those higher interest rates competing for yields, but they love those share buybacks & insider selling profit taking combo going on with corporate executives. Are share buybacks coupled with greedy insider sellers sustainable long term? I don’t think so
Looks like some flight to safety in the bond yields. Bond yields vs stock performance is something to really pay attention to now.
Gold & Silver are bouncing back today after getting monkey hammered down again yesterday. Silver is obscenely cheap right now imo. Oil bouncing back a bit today after getting slaughtered yesterday. Natural gas has been skyrocketing like winter is coming & nobody knew about it. Is it about to be a really cold winter?
A couple hours left in the trading day, something of a traditional safe haven flow going on today. Stocks keep weakening since the open.
Interesting stuff, get the gettin while the gettin is good & pay attention to the big cycles. Things are getting interesting
Dow is looking to rally into the close and end up for the day.
Last night I posted that Bitcoin might not have that crash toward 4XXX I've been predicting. Hours later, I'm proven wrong on that! I'd say this is a buying opportunity for those who patiently held dry powder.
60 cent Steem? Ouch.
EDIT: Dow's rally fading. I want to see it fall below 18k.
Of course I saw that log chart last night 👍
Gonna take a real fiat trust test event for people to influence the the price of crypto anytime soon.
They could get whacked down much farther, but I want to be a buyer now & probably until the next bigger market crash happens