Everything is awesome ! Yes, I've been watching the Lego Movie with my kids but it does sum up the mood in the markets as we finish up the week with MORE FREE MONEY from our Chinese masters. That's right, In order to keep the party going, the PBOC has set their non-bank deposit rate to ZERO, essentially allowing their financial institutions to lend exponentially more money as ANYTHING can now be counted as a deposit and used for leverage – AWESOME! This AWESOME flood of new money into the global markets sent the Shanghai Composite up 2.77% this morning. Hang Seng is closed and Europe is closed but our markets are open and our Futures are up a bit but we'll short the Russell (/TF) yet again under 1,108.50 as it would be awsome if it fell back to 1,800 again and made another $850 per contract. More Free Money finally woke gold up and it popped $25 overnight, back to $1,200 per ounce and silver is back over $16.20 and that's awesome because we're long on both. Oil is still just $56.20 with an awsome opportunity to go long on USO ($45.50) still available (we're already long through June – see Tuesday's post for our reasons why ). IN PROGRESS
Everything is awesome!
Yes, I've been watching the Lego Movie with my kids but it does sum up the mood in the markets as we finish up the week with MORE FREE MONEY from our Chinese masters. That's right, In order to keep the party going, the PBOC has set their non-bank deposit rate to ZERO, essentially allowing their financial institutions to lend exponentially more money as ANYTHING can now be counted as a deposit and used for leverage – AWESOME!
This AWESOME flood of new money into the global markets sent the Shanghai Composite up 2.77% this morning. Hang Seng is closed and Europe is closed but our markets are open and our Futures are up a bit but we'll short the Russell (/TF) yet again under 1,108.50 as it would be awsome if it fell back to 1,800 again and made another $850 per contract.
More Free Money finally woke gold up and it popped $25 overnight, back to $1,200 per ounce and silver is back over $16.20 and that's awesome because we're long on both. Oil is still just $56.20 with an awsome opportunity to go long on USO ($45.50) still available (we're already long through June – see Tuesday's post for our reasons why).
IN PROGRESS
