06 December 2018

Stocks and Precious Metals Charts - Mr. Trump's Wild Ride - Santa Takes One for the Team

"Half a league, half a league,
Half a league onward,
All in the valley of Death
Rode the six hundred.
‘Forward, the Light Brigade!
Charge for the guns!’ he said:
Into the valley of Death
Rode the six hundred.
‘Forward, the Light Brigade!’
Was there a man dismay’d?
Not tho’ the soldier knew
Someone had blunder’d."

Alfred Lord Tennyson, The Charge of the Light Brigade

“I think the Fed right now is a much bigger problem than China. I think it’s -- I think it’s incorrect what they’re doing.  I don’t like what they’re doing.  I don’t like the $50 billion.  I don’t like what they’re doing in terms of interest rates.

And they’re not being accommodative at all.  And I’m doing trade deals, and they’re great trade deals, but the Fed is not helping.”

Donald Trump

This would be funny if we were not stuck in the back seat of this crazy train.

Never in the field of financial endeavor have so many, been so roundly abused, by so few.

The Exchange Stabilization Fund stuffed Santa into a cannon this afternoon, and shot him into a hole in the popular narrative, plugging up the selling in stocks.

The turnaround was breathtaking, as the FANGS, minus AAPL, helped to lead the turnaround in US stocks that threatened to spoil the Christmas bonuses on Wall Street.

The buying panic was aided by Trump, who said "I didn't know" about the request for detention and extradition of the CFO of China tech giant, Huawei.

I suspect he will be saying "I didn't know" quite a bit for the rest of his term. It's the CEO thing to do.

Non-Farm Payrolls tomorrow.

Have a pleasant evening.