BBob
WKR
Pulled some profit elsewhere so I'm ready for a bigger dip
CGXEF got put back into it's place with a near mis doji today. Lets see what happens tomorrow. If you had FOMO on this one it may give another chance.
The Rokslide Stock Traders Thread
- Thread starter Kilboars
- Start date
CGXEF got put back into it's place with a near mis doji today. Lets see what happens tomorrow. If you had FOMO on this one it may give another chance.
Decker9
WKR
Bag holding over here, today put me in the green by a tad, holding on with high hopes.
Seems like something happening with TRCH as well, worth checking out.
That's going to be a pretty normal ongoing trend. We're seeing more market volatility again and bigger swings. Plus well see more profit taking again like last year. If you freak out on big swings this aint the market to be in this summer as long you Are not in purely speculative stocks. I wish I kept more cash in my account for trading this next week.
Techs took a jump today.
Analysis: As Fed wakes sleeping dollar, jolted bears may bolster gains
BY SAQIB IQBAL AHMED AND SAIKAT CHATTERJEE, REUTERS - 4:09 PM ET 6/17/2021TOP NEWS
(Reuters) - A hawkish shift from the Federal Reserve has woken up a slumbering dollar, sending the U.S. currency to its highest level in months and stoking expectations that an unwind of bearish positions could fuel more gains.
The dollar was on track for its biggest two-day percentage increase against a basket of major currencies in 15 months on Thursday and stands at its highest level since mid-April, a day after the central bank shifted its first projected rate increase into 2023 in the face of surging inflation.
Betting against the dollar has been a popular trade for months, as the Fed's insistence that it would maintain its ultra-dovish stance despite rising inflation drove the currency to a near 3-year low earlier this year.
The slightly hawkish shift in Wednesday's statement appears to be changing that calculus: the prospect of a sooner-than-expected rise in U.S. rates boosts the dollar's attractiveness to yield-seeking investors over currencies such as the euro and yen. Both Goldman Sachs and Deutsche Bank, for instance, after the Fed meeting recommended investors cut their bets on the euro rising against the buck.
"I think FX markets have finally awoken to the idea of earlier normalization from the Fed," said Simon Harvey, senior FX market analyst at Monex Europe.
Large bets against the U.S. currency may accelerate the recent move if the threat of more gains pushes investors to reverse their bearish positions. Net bets against the dollar in futures markets stood at nearly $18 billion last week, a three-month high, according to data from the CFTC.
Graphic: Bear trap - https://fingfx.thomsonreuters.com/gfx/mkt/xegpbrxdjpq/Pasted image 1623959505645.png
"In the coming weeks and months, the short-dollar thesis that has been so dominant and popular for much of the past year will be severely tested," said Stephen Jen, portfolio manager at hedge fund Eurizon SLJ.
Momtchil Pojarliev, head of currencies at BNP Asset Management in New York, bought the dollar against the Japanese yen after the Fed meeting.
"The Fed has been patient, but we all know the Fed is going (to turn hawkish) at some point," he said. "I didn't think that it was going to be now."
Because of the dollar's central position in the global financial system, its fluctuations tend to ripple through a wide range of assets.
A stronger dollar tends to weigh on the balance sheets of U.S. multinationals, making it less favorable for them to change foreign earnings back into their home currency.
A rising greenback could also help tame a blistering rally in commodity prices that has helped boost inflation this year, as many raw materials are priced in dollars and become less affordable to foreign investors when the buck appreciates.
"With our view of rising rates, risky assets and equities will have difficulties," said Kaspar Hense, a portfolio manager at Bluebay Asset Management, which oversees $60 billion. Hense went short the euro after Wednesday's Fed meeting.
Some market participants, however, are maintaining their bearish views on the dollar, noting that the Fed's easy money policies, which include the purchase of $120 billion a month in Treasuries, remain in effect. Other central banks are likely to follow the Fed's lead in slowly normalizing monetary policy, potentially narrowing the gap in rates between the U.S. and other economies.
Goldman Sachs believes a global recovery will weaken the dollar over the longer term, while a report published by Societe Generale on Thursday showed a year-end price target of $1.27 for the euro, from $1.19 on Thursday.
"Clearly there has been technical, fundamental damage to the bearish dollar story, but I would like to see how the dust settles before determining if the dollar bear story is behind us," said Paresh Upadhyaya, director of currency strategy and portfolio manager for Amundi Pioneer Asset Management.
"Now a lot of it is going to hinge on... what do other G10 and emerging market central banks do in response."
Upadhyaya reduced his short dollar position heading into the Fed meeting but believes the currency will eventually head lower. Harvey, of Monex Europe, wants to see whether the next few weeks' data will bolster the case for a stronger-than- expected recovery.
Others, however, think there could be room for more dollar gains.
Shorting the dollar "has been a popular trade for both discretionary and systematic managers," said David Gorton, chief investment officer at hedge fund DG Partners. The "hawkish surprise from the Fed has perhaps exposed just how extended some of those short positions were."
BBob
WKR
Volatility and big swings=opportunity for big $$$
Poser
WKR
This morning I put some more $ in CCIV, AZN, OPNT and BAC. Bought more BTC (been awhile since I bought any) and ETH, too.
Bought in on some NYMT to watch it. Added MARA to my watch list.
Got to love payday.
Bought in on some NYMT to watch it. Added MARA to my watch list.
Got to love payday.
Jagger0502
WKR
Crypto is back on sale this weekend. AMP, the new Coinbase token option has a lot of potential. It is actually a useful token unlike a lot of the hyped up coins and utilities like Doge. The more I read about AMP the more I like it. Prob a good short term getting in anywhere under $0.10 but I have a long term plan for it as long as the Flexa network stays on track. Others like ADA, Matic, XLM, LINK and MANA are on my long term as well. If you can stomach the swings nows the time to get on board.
BBob
WKR
BORR getting attention with good volume today (83% of average only 2hrs in on the day). It's currently hitting previous support @ ~$.9 which is now resistance that we'll have to break to keep the train moving. Some positive indications we might have seen the floor and maybe we'll get that bounce.
MountainTracker
WKR
- Joined
- Mar 8, 2014
- Messages
- 1,028
Did someone say crypto is on sale
I’ll be getting some more Ada, MATIC, and btc. Looking to add enjin, amp if the price is right. If theta and Tfuel drop again I’ll be on that as well. Days when it drops drastically is when the money is made Sent from my iPhone using Tapatalk
BBob
WKR
In some form we're already in the middle of one. Can't say how big it's going to be but if we look at SPY it's already close to the the 50EMA which it really likes to bounce off of often. If it bounces at the 50 that'll be ~$415 and that would be ~2.5% correction. If it gets hit as hard as it did back in May and corrects to the 89EMA (which it does occasionally) that'll be ~$405 and ~5% correction. Will we go bigger? Maybe, because we do see it drop out further at times like last October. We'll just have to watch the news and see what the big boys bring us.
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Broomd
WKR
+1, well done. That insane volume at close was pretty incredible.
CDEV impressed the last couple of days, volatile flippin' market but she roared back each time. $7 incoming.
We O&G'ers are going to be in the stacks......
Attachments
John316
FNG
- Joined
- Jun 19, 2021
- Messages
- 2
Wait.
HuntHarder
WKR
That's what I tell everyone. I will make more tomorrow. As long as they keep printing it, I will keep spending it.
30338
WKR
- Joined
- Jun 2, 2013
- Messages
- 2,010
Mentioned earlier in this thread about taking a few profits and diversifying into something other than stocks. Got my first dividend check this am.
MountainTracker
WKR
- Joined
- Mar 8, 2014
- Messages
- 1,028
Mentioned earlier in this thread about taking a few profits and diversifying into something other than stocks. Got my first dividend check this am.
I hope it pays out big for you
Sent from my iPhone using Tapatalk
Decker9
WKR
TRCH is +70% this am
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