3/17/2020 Trading Futures Update - PMs-Up, S&P500-Up, Crypto-Down

rollingthunder (60)in SteemLeo • 4 years ago

After a wild ride yesterday, the gyrations in the markets, as the trading rolled from one open to the next around the world, we saw the general markets close anywhere from 6-12% to the downside. Markets in the US are posed to bounce this morning, but the sentiment is changing from BTFD to sell the RIP. Amazon and Apple held their own so the Bulls have their hope to charge higher. The VIX is record highs, in the 80's......wow.

Precious metals were sold off yesterday, silver taking a 10+% fall, with the physical market being bought, the paper market being sold, premiums are rising and two week back-logs are now common. Silver hit 11.77 during the peak sell-off, slightly up a dollar since then. Gold held better, only down 3%. Palladium the biggest loser. Sell any liquid asset at all costs. The silver chart looks like a stawk chart.

Stawks were sold and even a 3% bounce looks insignificant against all this red. Fair value is a big -34, a big plus to the opening bid, adding another 1.5% to the total for a 4,5% jump projected. Boeing credit was downgraded, falling from 440 to now 130, I have been telling my friends for many years, BA is a buy at 100, none believed, but now coming around as we are only $30 from coming true, but even 100 may be over-priced.