Anyone of you nerds own bitcoins or any of the other ‘evil’ crypto-currencies? BTC is now bidding $2,084, up more than 4%. That’s fucking amazing. What’s even crazier is that I missed the entire run and I couldn’t care less. I had a woman tell me yesterday that she thought bitcoins were literally evil. To be agreeable and not unkind, I agreed. It made me feel good inside, casting aspersions that were based in irrational thought. Now I know how most of you feel when you shitpost here, pestering me with illogical phrases and ‘financial strategies.’
Why the fuck is it higher again? Answer me now, or forever hold your penis.
Moving on.
Following Trump’s orb fondling days in Saudi Arabia, WTI is higher by 1.3%, gold +0.33%, silver +1.6%, and even natural gas is higher — +1.79%. Once again, the euro is gaining vs the dollar, +0.3%. All of this is giving traderfags some confidence in stocks, with futures pointing up by 2 whole points.
Over in Europe, those bastards are losing money. The Germans are down 0.3%, Spaniards -0.26% and the meatballs from Rome are off by 1.19%.
On the banking side, the yield curve is flattening again — with the 2 yr up 1bps to 1.29% and the 10 yr flat at 2.249%. Ignore this all you want until the fucking thing is literally forecasting recession and then you’re crying in your shower — wishing you listened to my warnings.
While futures might be pointing higher, it sure does look like a whole lot of nothing out there. If anything, the run ups in commodities isn’t boosting stocks like you’d expect — lending to a fairly somber, anti-climatic mood.
The post Why the Hell Are Bitcoins Surging Again? appeared first on Trading with The Fly.
May 22, 2017 at 05:34PM
from Dr. Fly
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