Do Ya Feel lucky? (Read time 1 min 20 sec/ with video clip 4 min 30 sec)
Why do I have this clip here? It reminds a bit of the U.S. administration as they see the election moving closer and closer. Trump is hoping the equity market will hold strong.
The administration needs for the reopening of many states (especially those that voted for Trump in the last election) will go on without a second wave. Trump and the administration are ramping up its rhetoric against China in addition to attacking President Obama to try and taint Senator Biden. President Trump is even mad at Fox news for coverage he found offensive, and will be looking for a new news channel to work with.
I am wondering if he is feeling lucky as November approaches?
The global equity markets continue to trade as tough things will be considerably better in terms of the current pandemic and the aggressive actions of governments and central banks will have the economy bouncing back and earnings will make a strong revival from the current depressed levels.
Today as we write:
Nasdaq, traded at the highest level since the middle of February.
European markets bounced to close up across the board.
Crude oil is continuing its impressive move, grinding higher as oil in storage in the U.S. decreased.
Gold is hovering around the $1,750 level, close to all-time highs.
The UK government joined the negative club and sold bonds with a negative yield for the first time.
Given the weak performance of the U.S. economy as indicated above, the performance of the indexes/metals is quite impressive. Below is a 12 month overview.
EU 50 is the weak performer with a -13% return
While S&P 500 is +4.5%, Silver + 21%, Nasdaq +28% and Gold +37%
2 of the three trades we recommended earlier this week have been stopped out for small losses, as we tried to fight the risk on trend. EURUSD and Brent crude both traded at our stop levels, while the S&P short is still in play as well as the NOK long basket trade.
Most European markets will be closed tomorrow, we at Minter are standing by.
Check out our position tracker for 2020:
Contact us if you are interested in receiving real time trading signals. In doubt? Check out our track record below!
|Ticker||Date Opened||Entry Price||Stop||Target Price||Current Price||% Change|
|Short EURUSD||2020/05/19||1.0930||1.0975||1.0800||1.0987 (CLOSED)||-0,41%|
|Short Brent Crude Oil (OILUKJUL20 or LCON0)||2020/05/19||35.05||35.75||33.00||36.37 (CLOSED)||-1,99%|
|Short S&P500 (US500)||2020/05/19||2948||3000||2800||2954||-0,20%|
Visit our Position Tracker to look at all of our realized trades and proven track record!
2018: 45 Trades, Hit Ratio 53,66%, Profit +35,87 %
2019: 31 Trades, Hit Ratio 45,16%, Profit +26,97%
– Mark W