Craig Hemke: Unhinged Silver Fix and S&P Death Candle
Posted with permission and written by Rory Hall, The Daily Coin (CLICK FOR ORIGINAL)
I sat down with Craig Hemke, TFMetals Report to get a much-needed update on the S&P Death Candle and to get his take on what happened with silver last Thursday.
Ponzi schemes are as old as time.
After yesterday's torrid, chaotic moves in the market, where an initial drop in stocks was quickly pared and led to a surge into the close after a weaker dollar on the heels of even more disappointing US data and Bill Dudley's "serious consequences" speech sent oil soaring and put the "Fed Relent" scenario squarely back on the table, overnight we have seen more global equity strength on the back of a weaker dollar, even if said weakness hurt Kuroda's post-NIRP world and the Nikkei erased virtually all losses since last Friday's surprising negative rate announcement.
Submitted by Greg Hunter via USAWatchdog.com,
Former Reagan White House Budget Director David Stockman says retail investors are going to take, yet, another very big hit. Stockman explains,
Yesterday we reported that following a spike in calls by the sellside to "sell the rally", hedge funds did just that and according to BofA client data, hedge funds dumped the most shares in the past week in two years. Today, JPM's Adam Crisafulli repeats the firm's now default call for 2016, noting that "the bigger picture backdrop for the market remains the same."
Here are the three key backdrops:
While the biggest news of the night had nothing to do with either oil or China, all that mattered to US equity futures trading also was oil and China, and since WTI managed to rebound modestly from their biggest 2-day drop in years, continuing the trend of unprecedented, HFT-driven volatility which has far surpassed that of equities and is shown in the chart below...