We all appreciate Kim Jong Un for his megalomaniacal disposition, his sporadic bouts of military brinksmanship, and especially his unique talent for randomly causing widespread fear and panic all across East Asia. What’s not to like? He’s big, he’s bad, and he’s got nuclear missiles with laser beams on them. But there is such a thing as professional courtesy among super villains, okay? So he’s got to start sending me a memo or something next time he launches another missile, as they keep messing with my weekend campaigns.
I feel rather conflicted about the price action over the past month and quite frankly that’s exactly how I should feel and thus act accordingly. Just take a look at a daily E-Mini chart and compare the March contract (ESH7) with the current front month (ESM7) and tell me what you see.
Make no mistake, the real loser of the 2016 U.S. presidential election was not Hillary Clinton. No, it was nearly the entire Western mainstream media which up to the final moment last night clung to a political fairytale it tried so very hard to convince its readers over the past two years. No matter whether you are a Hillary or a Trump supporter and no matter how you feel about the 45th president of the United States as a person, this is something that should deeply upset and worry you long after your current euphoria or depression has subsided and given way to your daily routine.
I swear, I can’t leave for more than a day without the market throwing a tantrum. What quickly has become known as the Fed’s ‘One-Two Punch‘ symbols across the board were thrown into a spastic gyrations last Friday courtesy of contradictory statements issued by various FOMC members. Frankly I’m not sure what all the excitement was about. It’s not that we haven’t been there before as Mrs. Yellen and Co. appear to be adjusting monetary strategy on the fly each month based on arbitrary market measures.