Sorry for not giving an explanation, been amazing though
On August 5th, "I mean you have to be fucking kidding me if you are complacent right now...today's rebound in the market means nothing. The only thing that will save the financial system is lowering rates. However, lowering rates will CRUSH the dollar that has already been getting crushed. I really feel that lowering rates will drive gold well above $1000, the euro to $3, & the pound to $4. I think right now is a good time to go long the YEN...I will explain in my next note as I don't have time right now. In addition, I think we can expect the markets to get crushed even if rates go lower as many foreigners will definitely be selling dollar denominated assets at a fast pace as it will likely be a race through a mouse hole."
As I mentioned so subtley unfornately, the long YEN has been the PLACE TO BE IN THE LAST MONTH!!!!! Yen has gone from 124 to 114 vs. USD aka the biggest move in the last 2yrs! Profit off all these idiots that must now unwind the carry trade, plus there is rumblings that the BoJ is going to raise rates - which is the best case scenario & something that could take the Yen below 100 - a geography that it hasn't seen in over a decade!
Also, I would take this discount rate cut rally as an opportunity to exit any questionable equities as I view it only as ST, you all know my LT thoughts.
Ben
As I mentioned so subtley unfornately, the long YEN has been the PLACE TO BE IN THE LAST MONTH!!!!! Yen has gone from 124 to 114 vs. USD aka the biggest move in the last 2yrs! Profit off all these idiots that must now unwind the carry trade, plus there is rumblings that the BoJ is going to raise rates - which is the best case scenario & something that could take the Yen below 100 - a geography that it hasn't seen in over a decade!
Also, I would take this discount rate cut rally as an opportunity to exit any questionable equities as I view it only as ST, you all know my LT thoughts.
Ben
posted by Not Sure if Al Gore or Global Warming is a Bigger Joke at
8:27 AM
2 Comments:
Dude. I am an idiot for not going long Yen as not only have I agreed with you on that, but I have wanted in for a while. I feel llike trash right now.
On another note, silver and gold are depressing. For real, they make me want to puke. Silver down 6% yesterday was horrible. It made me ill. And then the fed swoops in with blades rotating and gold and silver barely budge. Give me a brake. Come on.
I am sure gold will just get hammered as the dollar relief rallies here. Even though it obviously should go stratospheric as the BOJ turns on the press.
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