Wednesday, June 19, 2013

Look At THIS

Alright, the Fed meeting is a thing of the past but now we have to deal with the TAPER factor. Again I think this is such nonsense and let's take a look at what happened in the Financial markets today, the FED did not TAPER anything, but just the thought of it wreaked havoc across the markets. I will first give you a look at the currency markets, I am not going to break down each one this evening because I would just like you to see what transpired today and quite frankly I would like to see what happens over the next 24 hours. Here are daily charts on some of the majors, please click on one and go through them all




I had mentioned last night that I could see the US dollar was due for a bounce, we got one. Short term, let's see if the $ can trade up to the 82 handle. If it does and that is a big IF, it may be possible that the Bond market really starts to break down and rates rise, giving the US dollar an added boost, at this time anything is possible. Here is a look at the 30 year US Bond, strong move today!
If bonds do follow through with this move and all the FED's hard work with the stock market really starts to unravel, expect panic across the financial markets. Let me remind you, that the markets reacted this way today on TALK alone, could you imagine what the markets will look like when THEY actually attempt draining liquidity from the system? Remember how good stocks looked at the end of the day yesterday, take a look at this!
I will reiterate my very strong opinion, the highs for the year in US stocks are in! Lastly, that is enough charts for today, Gold & Silver were taken lower as expected and the charts still look bad if you are a bull. Gold traded below 1350 and now we have to watch to see if 1320 holds. If it does not go much lower than these levels and all hell starts breaking loose with all the other markets, You just may want to to start accumulating positions as we may start to see some major short covering in Gold especially, sorry to say I just do not have the stomach to trade silver anymore, however I see nothing wrong with buying the physical metals here for the long haul. Be patient with your trading, like I said last night, we will be given opportunity after opportunity with the volatility in all these markets, be quick and nimble, take your profits and do not be afraid to take losses. Greed is a terrible thing, bulls make a little-bears make a little-pigs get slaughtered!
Be Safe-do not get taken to the slaughter house, that is an easy feat with today's market conditions!

Good Night
Martin




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