The Yellen Crush

It seems like along with a new POTUS (which one exactly still remains to be seen) we also seem to be getting an entirely new FOMC monetary policy, as Yellen appears to suddenly have discovered new faith in God and higher interest rates. The increase in the federal funds rate to a range between 0.5% and 0.75% was expected but came along with the prospect of brisker monetary tightening. And not surprisingly all hell broke loose… well, at least over in forex and precious metals:

Which of course sent our silver campaign on an express elevator to the woodshed. I’m glad we moved our stop to a bit above break/even on Tuesday as we at least got out with half an R in petty cash.

My very promising EUR campaign also got stomped courtesy of a ramp in the Dollar. As a consolation the EUR/USD exchange rate has shifted even closer to par. If that trend continues over the next year I may be able to rent a bigger palace here in Valencia

Okay, as futures and forex are shot to hell let’s look at some stock symbols today. Tesla is looking like a possible sell, assuming it pushes back up a bit further toward 203.

You can click on the chart to get a dynamic version. Seasonality is pointing down over the coming month, which may work in our favor.

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Bonus Chart:

Crude! Come to daddy 😉