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Wednesday, January 11, 2023

Fastest Rally, and Biggest Percentage Gain, In History

 I was watching the Bloomberg this morning, and guess who they just happened to have on? None other than Christopher Verrone, who I covered in yesterday's blog.  

Of course he's still pumping Gold, and Gold Miners, and industrial names, and even Japan, as if there's been some kind of pivot there...? 

So, I decided I better check out the charts to make sure I'm not missing anything, and what I found is not surprising to me, at all.  

$GLEN (Glencore) manipulated (rigged) higher, earlier in the week. 

No thanks! 

So then, I decided to look at Japan, and China, and emerging markets, because that's what is leading the rally. What Rally, you may ask? 

The Fastest Rally, and Biggest Percentage Gain, In History 

$CZH China 

Looks like a bad case of, "too far, too fast", and too hot to touch, but what's driving this?

I believe these are European Hedge Funds, using foreign money. Possibly even money that fled Russia, and Saudi Arabia.... who else would be hell bent on driving emerging markets higher? Also, we see the $DAX continue to breakout, along with the rest of the Eurozone.

Of course the crash in Natural Gas prices also has something to do with that, and that was probably my best prediction of 2022, by the way! 

$EZU  (Eurozone) Technically it looks like it's gone parabolic, but look more closely, and you'll find it's rallied to a key Fibonacci target. 

I'm almost out of time, and I've barely scratched the surface, but I also want to show you how they (the manipulators) are using leveraged ETF charts to help drive these rallies. 

Case in Point 

$EDC (3X Emerging Markets) - 1. First see where they forced a breakout (above the previous high) around the Thanksgiving holiday. 2. See where they actually raised the bid on this fund, above the 200 day moving average target. 

I have to wonder what is going to be the catalyst to unwind this trade, and where the money is going to be put to work next, but with the recent momentum, I think it could take weeks to see much of a reversal. Obviously this is being run up into another rigged Options Expiration, Jan. 20th, 2023, on another shortened trading week.   

Take Care, AA 

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