Monday Bloody Monday

Discussion in 'Investing' started by The Brontide, Jun 26, 2020.

  1. The Brontide

    The Brontide Active Member

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    Watching the market activity coupled with the news, the sound from the ground is the traders are on their edge of their seats.

    Earnings reports, closing Q2, pandemic increases (like Florida reporting almost 10,000 new cases just in a day), ...

    ... Is going to make for an uneasy weekend to ponder your positions without market access.

    Although I have dipped into B2Gold (BTG) again and pulling a 2.5% so far on this hour with Gold tickling it's toes nearer $1800, I am fully expecting a bloody Monday for the endicis.
     
  2. The Brontide

    The Brontide Active Member

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    Yes BTG turned up nicely for me by days end. An decent 3.x% return from midmorning to close.

    But the takeaway for me is, the smart money is moving and getting defensive. And the Friday afternoon jump implies the smart money is hedging the weekend isn't going to provide good news, and Monday the markets may respond with alot of downward pressure.

    T yields will drop, markets will correct continuing the last week's trend, and certain defensive positions will become popular at least for the nearest future.

    Just my two cents, which jumped up today for me by a decent position in a gold miner.

    Gold to $1800 by Monday is my Babe Ruth call.
     
  3. The Brontide

    The Brontide Active Member

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    Late day breaking news is out. The EU will be blocking travellers from the United States. I know why they waited to announce this until after markets closed as it will effect the markets come Monday.
     

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