Maybe not next week, but it's coming for sure. Bessent has 9 trillion that has to be rolled over and at the current rates it will be very expensive so the US Govt is the greatest benefactor of lower rates this time around. Expect inflation to hit 6% before the end of the year. 36 trillion of debt has consequences. Unfortunately people literally die in recessions, but there's no way out. Fake Fed managing 36T of debt has reached Mr. Mannarino's law of diminishing returns. Will Trump's plan of lowering regulations and using tariffs to bring jobs back to the US work? Seriously doubt it in the time he has left. Took years to get here and will take years to get back if ever. I went to consumer staples and short qqq etf's. Even my boring companies are now struggling. T and VZ still in the black.
The dollars fucked, stocks are fucked. I like crypto but unfortunately it’s still correlated with the Nasdaq. Seems like gold and silver will be the only assets left standing.
I had it in my trading notes that 5655 was a critical support level from JUL and AUG 2024, that if we broke below that, we're headed much lower. I don't know where the bottom is, but we're seeing the "much lower."
What we expected, Way to go Trump and Muskrat, wrecking our country and world with all the ex. orders and crazy tariffs, he doesn't know what he's doing for sure, thinks he does, the whole country and world are wondering why he's a big wrecking ball.
You called it Greg - as soon as the bonuses were paid out to Wall Street and Big Pharma it is now rug pull time. Pump and Dump of epic proportions. But the MMRI is not spiking which suggests this is a repositioning by the whales.
The BIG MONEY right now is driving down Bitcoin. US banks want in just not ready yet
big ass companies want in on Bitcoin and small countries thru out the world want in. They want the small investors to sell off. Hold on to your BTC for a wild ride . I have been in Btc since 2019.
Everyone has a right to their own opinion with cryptos. I personally have made $ with cryptos especially BTC. And will continue to make $ off crypto. Michael Saylor is a multi billionaire and made his $ off BTC.
In 2023, the Federal Bureau of Investigation (FBI) Internet Crime Complaint Center (IC3) received more than 69,000 complaints from the public regarding financial fraud involving the use of cryptocurrency, such as bitcoin, ether, or tether. Estimated losses with a nexus to cryptocurrency totaled more than $5.6 billion.Sep 9, 2024
I wonder if they’ll use this big sell off as an excuse to cut interest rates at the fed meeting next week
Maybe not next week, but it's coming for sure. Bessent has 9 trillion that has to be rolled over and at the current rates it will be very expensive so the US Govt is the greatest benefactor of lower rates this time around. Expect inflation to hit 6% before the end of the year. 36 trillion of debt has consequences. Unfortunately people literally die in recessions, but there's no way out. Fake Fed managing 36T of debt has reached Mr. Mannarino's law of diminishing returns. Will Trump's plan of lowering regulations and using tariffs to bring jobs back to the US work? Seriously doubt it in the time he has left. Took years to get here and will take years to get back if ever. I went to consumer staples and short qqq etf's. Even my boring companies are now struggling. T and VZ still in the black.
Of course they will. However, even a 50 basis point cut is “too little too late” to prop up the stonk market.
an excuse or their reason?
The dollars fucked, stocks are fucked. I like crypto but unfortunately it’s still correlated with the Nasdaq. Seems like gold and silver will be the only assets left standing.
I agree 100%
gold will tank too - it is usually the last to fall
The dollar is usually strengthening when that happens but it’s weak right now
Picked up my gold this morning at my LCD. As I left i developed a severe case of "Peace of Mind."
There is no cure except to buy more later in the week.
5500 is the critical level to maintain. I'm betting we pull back further.
I had it in my trading notes that 5655 was a critical support level from JUL and AUG 2024, that if we broke below that, we're headed much lower. I don't know where the bottom is, but we're seeing the "much lower."
What we expected, Way to go Trump and Muskrat, wrecking our country and world with all the ex. orders and crazy tariffs, he doesn't know what he's doing for sure, thinks he does, the whole country and world are wondering why he's a big wrecking ball.
Keep us posted, please.
You called it Greg - as soon as the bonuses were paid out to Wall Street and Big Pharma it is now rug pull time. Pump and Dump of epic proportions. But the MMRI is not spiking which suggests this is a repositioning by the whales.
Looking for 4,800
Forget about buying the dip. Time to liquidate and lock in your losses for now. The stonk market has much further to fall from here.
This is terrible advice. At least wait for a rally. Suckers sell at the lows.
I hope you are right. I'm still holding out....
I’m old enough to remember stonks moving sideways for 10 years. Case in point, the NEKKEI 225 index moved sideways for 35 years from 1989 to 2024.
It was bound to happen, the market been overvalued for a very long time. Rigged along with the Gold and silver markets/ Ed K
Yep a controlled demolition to roll out QE and Zirp! The Elite are foaming at the mouth!
True. But it won’t matter.
Greg, what are your odds that this happens?
What happened to all the free money?
The 10 yr is falling into a pile of dung.
Good call Jay. I appreciate this. Yes calling bottoms are hard. I agree with you we are headed much lower for sure.
The BIG MONEY right now is driving down Bitcoin. US banks want in just not ready yet
big ass companies want in on Bitcoin and small countries thru out the world want in. They want the small investors to sell off. Hold on to your BTC for a wild ride . I have been in Btc since 2019.
Everyone has a right to their own opinion with cryptos. I personally have made $ with cryptos especially BTC. And will continue to make $ off crypto. Michael Saylor is a multi billionaire and made his $ off BTC.
Bitcoin is a scam it does not exist it is all fake...
In 2023, the Federal Bureau of Investigation (FBI) Internet Crime Complaint Center (IC3) received more than 69,000 complaints from the public regarding financial fraud involving the use of cryptocurrency, such as bitcoin, ether, or tether. Estimated losses with a nexus to cryptocurrency totaled more than $5.6 billion.Sep 9, 2024
And you believe what the news media tells you. Thar just made me laugh. Have a great day.
And you believe that the US banks want in just not ready yet. Thar just made me laugh. Have a great day.
Sometime soon would be a good time for that plunge protection team to act. Or are they gonna wait till 5200
Don’t expect Trump and Powell to bail out investors as stocks near ‘danger zone’ hahahah mmmmk MarketWatch