Biden continued his - not very believable - campaign of fear yesterday, by inviting the likes of Jamie Dimon, and other corporate scum to help sell the idea that unless we continue to borrow out way into bankruptcy, bad things will happen. This was surreal to watch, and every fake financial new network covered it, except for Fox News.
Biden said a “meteor” could crash into the US economy if Congress doesn’t raise the government’s debt ceiling. (nypost)
Apparently that's all it took for sell-out RINO Mitch McConnell to save face, when he finally came out publicly, to side with his old friend Joe Biden.
Mitch McConnel Blinked (CNN)
The Left Right Paradigm Is Over: It's You Verses (multinational) Corporations businessinsider.com
File This In The Uncanny Folder:
Just after I blogged the Russian chart, pointing out how Russia has traded to 10 year highs on ridiculously inflated Natural Gas prices, Vladimir Putin himself comes to the rescue! I tell people "I'm psychic", but some folks still don't believe.
Bloomberg is reporting that the statement by Putin was planned, or manufactured news, as if all new isn't manufactured? Why don't they report on the Federal Reserve trading scandal? Try google news search and you'll find very little coverage, by the corporate owned main stream media.
The Fed’s trading scandal undermines public trust financialtimes'
Oil bounces off technical support this morning
Seeing the Hang Seng up 3% overnight. Perhaps on energy news, or the fact that they have finally agreed to a meeting with Jo Biden, or maybe just because the holiday is over?
Biden, Xi plan U.S.-China virtual summit before year's end, U.S. says reuters
Regardless of the fake news being used to move Chinese stocks, I saw this coming on Monday, and I'm already Net long.
$FXI (China)
I see resistance on the around the 40 level in early Nov - at the soonest - but I guess timing depends on how many hedge funds are short.
$INDU (Dow Stocks) bullish candle. Bullish Parallel Channel. Trading only 500 points below the 50 day moving average. A return to 35k will bring with it, plenty of short covering.
I have tons of great picks, charts, and targets, but no time.
Good Luck trading into October Options Expiration, and Monday is Columbus day, which should help bring volatility down.
Take care, AA
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