I've seen some big reversal over the years but today is pretty impressive. It's like 6% reversal for S&P and almost 5% for gold. Gold spot is now down minus couple bucks. Pretty crazy.
How much of this reversal is fueled by hedges and protection being unwound from fear of Trump victory and expected selloff we'll never know but we do know the world didn't end with Brexit and Trump win. My guess the world wouldn't have ended if Wall St and banks didn't get their bailout in '08-'09 like we were led to believe.
Makes you wonder if maybe the media was in cahoots with Hillary after all. All they kept saying was that if Trump was elected the market would fall. I guess it just proves once again that analysts are good for nothing.
Odds of the rate hike in Dec tumbled. That's what happened.
The question for me is why stocks went down with Hillary's odds before the election, but now that Trump won are going in the opposite direction. The market changed its mind on whether Trump is a good or a bad thing?
So uhh.. I'm happy my mother kept her NVDA shares.
Anyone here think marijuana stocks are a still good a buy? I know we just had a run up of buy the rumor and sell the news, but I can't help but to think California legalizing is huge for that industry, and possibly a tipping point for the rest of the country. A lot of these stocks are still up like 200-300% from August, but still cheap with low total market caps, so it's hard to tell.
Gold rally not over. Im holding NUGT now. Last print $14. Hoping for $20.
^Shit happens.
WTI back to $43 (Dec contract) and below. Turns out when you have a supply glut, talking about a cut back to record highs doesn't really help. Don't worry, some rumor will push it back to $50 soon.
More surprising are silver and gold tanking today. DXY is just below 99.
I wish I would have been adding to mine. I have 200 shares..bought in 2008. Anyone have any idea of their ceiling?yeah, they had an excellent day, eh? Looks like they are at the 300% mark on the year after today. Almost as good as AMD's top 350% from the year, but they have since fallen to a peasant 200% :\