3/16/2020 Trading Futures Update - PMs-Up, S&P500-Limit Down, Crypto-Up
An interesting night as we open trading futures in the Far East. We watched in disbelieve that the FED has dropped the interest rate to 0-0.25%....a full 100 basis points and are injecting 700Billion in funds to the banks. Funny, 700 billion was such a huge number in 2008, now it's being thrown around like fiat money. The FED has officially lost control.
Precious metals are up a few percent but silver can't be purchased in the USSA. I imagine premiums will rise and eventually the paper market will be broken. The traders will be everywhere. The USD is down only 0.27 at 98.67.
The stawk futures are limit down at 5%, we won't get a clue on how far this market will drop today, other than looking at world markets, which are down at least 4-7% in most indexes. Fair value is at 14.02, putting additional pressure on the open.
Crypto is up, looking for a bottom. Steem is at #62, up over 4%, priced at $0.1389
Keep stacking. Go get you some.
Thanks for following @RollingThunder
Posted via Steemleo
"All ships, Abandon Economy! .... Repeat: Abandon Economy! Women and Children first!"
Posted via Steemleo
It seems like there are too many leaks in the dyke for the FED to manipulate and plug before the dam collapses.........the sentiment is changing from BTFD to sell the RIP. Any counter-trend rally could be sold.
Posted via Steemleo
Why can't silver be purchased in USSA @rollingthunder?
The paper market for PM is really disconnecting from the actual market - demand is really to the moon. Unprecedented buying (at least it's what it seems to everyone right now).
From what I have been hearing from physical metals dealers, including the US Mint, people are purchasing and selling out silver stock creating a backlog of up to two weeks. This creates a rise in the premium which can equal the pre-paper price, such cost to acquire one ounce. as a $5 premium plus a $13 paper price still equaling $18
Posted via Steemleo