8/06 Trading Futures Update - PMs-Up, S&P500-Down Biggle, Crypto-Up
WOOOOOW, as we open trading futures in the far east, we see a continuation of the bloodbath. As soon as wall street closed, the futures took off and dropped another 30 points after-market.
Precious metals took off as the risk-on trade, gold pushing toward 1482, silver lagging. USD was a dog, the Euro now over 1.12.
S&P dropped 3% yesterday, and the world is joining the party. Selling begets selling......selling S&P500 ETFs, begets selling each individual stock in the index. Basic math. Fair value is even worse, sporting a _14.79, a huge negative to the opening bid, S&P500 at -42, DOW futures at -376. Plunge Protection Team (PPT) in the morning??????
Crypto is up over 11k, BTC dominance at 68%. Steem at #81, down 3 places, a price of 0.2173, a lower low.
Keep stacking. Go get you some.
Thanks for following @RollingThunder
Gold and Silver have long ways to go, before reaching "Sound Money"...
“Edited”... Gold and Silver needs to reach much Higher Values, to Cover the Requirements necessary for “OUR” Sound Money...
August 5, 2019... 22.8 Hollywood Time...
I may disagree, its role as sound money has been proven over time as a store of value, just because the marketcap is so low, has placed it out of favor as an investment class. But the latest runup is beginning to smell of a risk-on investment. When momentum returns, the low float and marketcap will drive the price higher.......No after the reset, all bets are off.
What my comment was saying, is that the price of Gold needs to go much higher to cover the Value of our Sound Money...
August 6, 2019... 3.6. Hollywood Time...