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Authored by Kevin Muir via The Macro Tourist blog,

Trading is difficult. If anyone tells you differently, they are either new (and haven’t been hurt yet), or just plain stupid. You are competing in the greatest game out there, against some of the smartest people on the planet.

Even when you do your analysis and get the call right, it is no guarantee you will make money. The Market Gods have a way of making sure that being right is way easier than stuffing dough in your pocket.

Having bounced back dramatically from the 20% plunge following China's ban of ICOs, Bitcoin is getting battered again this morning on very heavy volume as Caixin reports Chinese authorities plan to shut local Bitcoin exchanges.

The supervisory authority has decided to close the exchange of virtual currency in China , which involves all the currencies and currencies of the currency , such as "currency line", "coins" and "Bitcoin China."

 

Last week, before the full devastation from Hurricane Harvey was unveiled, Goldman and JPM were the first banks to suggest that the storm's impact on US GDP would be modest: a slight decline in Q3 growth,  offset by a similary modest rebound in Q4 and further as emergency funds "trickled down" through the economy.

Wholesale Sales has fallen for 4 of the last 5 months with July sales dropping 0.1% MoM from June. While sales dropped, inventories surged 0.6% MoM, pushing the inventory-to-sales ratio to 1.30x - the highest since before the election (Nov 2016).

Year-over-year inventories growth is the highest since September 2015 as Sales growth slows...

The absolute wholesale trade "gap" is on the rise once again...

Submitted by BullionStar.com

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