UPDATE, Oct 2
Another quick update.
Strange things are afoot at the circle K.
The government has been funded, and the markets appear to be happy. But beware, things aren't always as they appear.
I expect a drop. A big drop. A "why is this happening to me" type of drop. That's why I've been warning since July to trim and hedge in order to be ready for the pain. We've only been flirting with the real drops. this has been playtime as positions gear up for the real money to make their real move. it's almost time.
The big traders are coming for debt. They are finding it a snuffing it out. Beware of the companies with lots of debt or debt that needs to be refinanced and smaller income than debt. This would be companies like $Snap Inc (SNAP.US)$ .
This debt hunting especially goes for countries. Bond Vigilantes are hunting. Powell and Ueda (Japan) will keep raising rates along with Canada to keep the vigilantes under pressure. This will put downward pressure on stocks. The vigilantes will turn their focus onto Europe with their high debt low yields and low production. Every countries stock exchange will be under selling pressure. Bonds will be under selling pressure. That means rates go up. Hang on tight, this should get crazy.
we may get a rally for a few days to maybe a few weeks. But it should fail. How anything rallies with the bonds getting crushed is beyond me. Watch for some unwinding.
Let's look at the charts.
NQ futures is hanging onto the trendline by a hair.
a break below the 5 day MA at ~357 should result in more downside. We could rally and push up. 364 is my first target, then 366, 369 and then 372. My low targets are 330 fairly soon and possibly new lows (sub 250) by the end of the year, maybe before December.
I like oil, and energy (uranium, coal) but wouldn't necessarily be buying anything here.
Be Safe, Be Careful, Be Wise
and as always
Good Luck
$ProShares UltraShort 20+ Year Treasury (TBT.US)$ $Cameco (CCJ.US)$ $Baytex Energy (BTE.US)$ $VAALCO Energy (EGY.US)$ $Peabody Energy (BTU.US)$ $Tellurian (TELL.US)$
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101633546 : hi may I know who are the Bond Vigilantes refer to? TQ
iamiam OP 101633546 : they are large funds. like Soros fund, is a good example of a bond vigilante.
102235596 : Hey @iamiam QQQ to hit sub250 is like a 30% drop from current levels - that’s how far you reckon we will go?
iamiam OP 102235596 : yes, i think it's a brutal drop.
SarinaHerry 101633546 : Can you talk about it? Where can I find news about this blogger?