What a relief it must be in Japan; with the BOJ meeting out of the way, and Kuroda and crew safe in a bunker somewhere wondering when the next brick will fall and take the Yen higher, morning sets in on the New York session with little fallout from their inaction last night. “Whew, that was close … stuff could have actually happened had we acted … let’s not make that mistake again”.
And so here we are in day 2 of “correction mode” for the stock indices, and all of a sudden the Trump reflation scenario everybody swore up & down would be happening is … well … not “reflating” or acting like economic activity is just around the corner; and why should it? It took Obama 8 years to practically destroy the economy, and Trump’s supposed to “fix it” within 2 weeks? More noise from the “talking heads”; if they were half as smart as they thought they were, they would know it’s called “volatility”.
Some really good USDJPY algorithm trades today; 2 in particular after gold went ballistic to the upside. Directly below the 2 trades.
With the way the Yen is acting, it’s almost impossible to hang on to this stuff for an extended period before either gold turns around and does something stupid, or a Pol does something stupid and opens his/her pie hole; it’s a toss up, but hang around in this market too long and your “protective” stop is like iron fillings to a magnet.
In other news, in the next few days I will be releasing some information on the –vegas PAMM [our managed accounts program]; right now, just sit tight [meaning, no need to open an account and/or send money if you haven’t done so] and let me get this puppy put together. I’ll have everything you need within about a week.
Chamber of Commerce day in Paradise, and that means I’m sooooo outta here … beach beckons ... until tomorrow.
Have a great day everybody!