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Understanding What The Data Out Today Means for Investors and The Fed

Cory
July 14, 2017

We have weak economic data but Chris Temple thinks it’s important to take a step back and understand what this means in the big picture. Everyone is trying to predict what the Fed will do with this weak economic data but all we have to do is understand that this data has been weak for a long time and it hasn’t mattered.

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Discussion
91 Comments
    Jul 14, 2017 14:43 AM

    Somebody bite that hook on PALAF for me so maybe I can go green today. They really baiting the hook with that spread they have been running since the bell!

    CFS
    Jul 14, 2017 14:50 AM
    Jul 14, 2017 14:55 AM

    What’s up with Dominion Diamond DDC today?

      CFS
      Jul 14, 2017 14:54 AM

      Shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) have been assigned an average rating of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $14.78.

      There is also a rumor going around on the street of a buy-out.

        Jul 14, 2017 14:29 PM

        They halted trading in DDC after it went up 6% today

    Jul 14, 2017 14:24 AM

    When you din’t know . You don’t know what’s coming to you . https://www.youtube.com/watch?v=XHKkzuU2qtE

      CFS
      Jul 14, 2017 14:41 AM

      The problem, James, with MOABs or similar GPS-guided bombs is that there are Korean satellites that pass over the US every day. Although they were officially classed as communication satellites, they are, in fact, not.
      If either of these contain an EMP weapon, the US will be driven into the dark ages.
      It it also possible that US GPS satellites can be targeted.
      The Chinese now have their independent GPS system.

    CFS
    Jul 14, 2017 14:32 AM

    An English documentary on Politically-motivated, scientifically-moronic concept of man-made global warming:
    https://www.youtube.com/watch?v=DJBDI7jVMqM

      Jul 14, 2017 14:02 PM

      Thanks CFS, I watched it all the way through. The 30-40 minute and 1:05 till the end bit got me the most.

    Jul 14, 2017 14:58 AM

    Environmental Nightmare! Dozens Of Highly Toxic Substances Have Been Found In Tap Water All Over America

    After reading this article, you will never look at tap water the same way again.

    http://www.zerohedge.com/news/2017-07-14/environmental-nightmare-dozens-highly-toxic-substances-have-been-found-tap-water-all

      Jul 14, 2017 14:22 PM

      Good news is food is not toxic. So, don’t worry, eat all you want.

        Jul 14, 2017 14:27 PM

        Most processed food is toxic and is full of high fructose corn syrup and hydrogenated fat.
        Stick with organic food.

          Jul 14, 2017 14:31 PM

          Agreed Bonzo Barzini.

          Jul 14, 2017 14:40 PM

          Everything is toxic if you get too much. Everything is NOT toxic if you do NOT get too much. The world is a lot more complicated than EPA’s gubmint goons know.

      Jul 14, 2017 14:25 PM

      I have not drunk crap from the tap for 15 years. I even gave spring water to my dog and she lived to 19 1/2.

        Jul 14, 2017 14:29 PM

        Just get a good filtration system and have the toxins and sediments removed.

      Jul 14, 2017 14:25 PM

      Just large corporations wanting and forcing people to buy bottle water.

        Jul 14, 2017 14:27 PM

        Rainwater is free

          CFS
          Jul 14, 2017 14:03 PM

          I can’t remember the last time it rained where I am……at least 3 months ago.

    Jul 14, 2017 14:03 PM

    GDX:GLD falling apart intraday. Today was nothing but a sucker’s rally.

    Jul 14, 2017 14:06 PM

    GDXJ looks pathetic. Should be ringing alarm bells.

    Jul 14, 2017 14:23 PM

    Read the Act of 1871 ….

    Jul 14, 2017 14:33 PM

    Look at that beautiful ramp into the close in $indu. Mining stocks–gap up and then fading well below the open is what we get.

    Jul 14, 2017 14:41 PM

    EXK, what a POS.

      Jul 14, 2017 14:23 PM

      EXK was still up on the day and positive like most Silver miners.

      Jul 14, 2017 14:42 PM

      I think EXK is a great little company and own it.

        Jul 14, 2017 14:24 PM

        Ditto. I just picked up a position in EXK this week/

          Jul 14, 2017 14:28 PM

          I”ve traded in and out of it about a dozen times over the last year and keep telling myself that when I feel the metals are going to turn up for an extend period of time that I’m going to let it ride and keep a core position in place. It is so liquid though, that it is easy to trade, and sometimes I use it fund smaller iliquid trades and then rotate back into it when trimming those.

    Jul 14, 2017 14:49 PM

    Miners being faded hard into the close, relatively speaking. Nothing bullish whatsoever about today’s action. More shorts piling on on every uptick or gap up.

    Jul 14, 2017 14:54 PM

    @Goldfinger – “There is a very good chance that $1204 is a low that will hold for some time in $gold. Price has held up well given a substantial liquidation has taken place. Bullish seasonality should also begin to kick in soon. Gold has a lot of things going for it here including sentiment; many fewer reasons to be bearish given seasonality, CoT positioning, sentiment, etc. ”

    @Goldfinger – “Very constructive $gold CoT report with large specs liquidating more than $4 billion in net notional length. Open interest also increased more than 18,000 contracts which is consistent with the theme that trend followers have been shorting into the decline earlier this month. ”

    http://cdn.ceo.ca/1cmi79l-Gold_CoT_7.14.2017.png

      Jul 14, 2017 14:13 PM

      Sprott predicts gold will rise by end of 2017, driven by equity correction

      KRISTINE OWRAM – Bloomberg News – Friday, Jul. 14, 2017

      “The next move on gold will be driven by an equity market correction,” Chief Executive Officer Peter Grosskopf said in an interview at Bloomberg headquarters in New York. “It’s a pretty safe bet that if equity markets start to look volatile and dangerous then a lot of money will flow into gold as a hedge to that.”

      https://www.theglobeandmail.com/globe-investor/investment-ideas/sprott-sees-next-gold-bull-market-driven-by-equity-correction/article35692134/

      Jul 14, 2017 14:38 PM

      I have a feeling commercials loaded back up with shorts this week and especially today.

      Even if we are close in time to a low, a lot of technical damage can be unleashed in just 1 week. The monthly charts are already bearish enough, but one price drops sufficiently below the 20 MMA, the chance of a reversal is slim to none.

        Jul 14, 2017 14:14 PM

        That’s a valid point, but the converse is also true. If there is a short squeeze for all those that loaded up on shorts earlier this week, then it could really move things to the upside. We’ll see how it goes….

    Jul 14, 2017 14:03 PM

    Really nice H&S pattern forming in gdx:gld 5 minute chart. Down she goes next week.

    Today was nothing but an opportunity for smart money to dump/short shares all day after a large gap up.

    GH
    Jul 14, 2017 14:37 PM

    GDX is at a significant juncture

    http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=6&mn=6&dy=0&id=p13267368240&a=480387695

    In general I like what I’m seeing in the precious metals charts.

      Jul 14, 2017 14:50 PM

      There is a giant head and shoulders on the $XJY chart, with the neckline starting at the 2015 low and slanting upwards diagonally.

        GH
        Jul 14, 2017 14:59 PM

        I added the neck line. But I’m skeptical that H&S will materialize.

          Jul 14, 2017 14:40 PM

          Good chart GH. That doesn’t really look like a H&S pattern to me either.

          Thanks for the trend-line showing where Yen support should materialize if there is any more downside left.

    GH
    Jul 14, 2017 14:43 PM
    Jul 14, 2017 14:11 PM

    You boys behaving today???? Well then…maybe you saw this…

    Pocahontas is on the war path….going to get some Kid Rock scalp…but maybe all she gets is a hot foot…ought to be awfully entertaining and worth a laugh.

    See you around the tepee…I’ll be wearing my best moccasins…

    http://www.bostonherald.com/news/us_politics/2017/07/liz_warren_sounds_fundraising_alarm_over_kid_rocks_potential_senate_run

    Jul 14, 2017 14:33 PM

    She is one among many who need to be ran out of office

    Jul 14, 2017 14:38 PM

    Bitcoin takes a hit..zh

      Jul 14, 2017 14:17 PM

      I bet Yellen is going crazy….no she is crazy….

    Jul 14, 2017 14:41 PM

    Trump had a great day in Paris today.