Banks Doubled Down: Super Long Assets /Short USD
Simplified, the current worldwide trade du jour is short the USD, long assets: real estate, paper, commodities , and equities . That includes the Fed and other central banks obviously. To call this a crowded trade is a colossal understatement. Not even sure if "bubble" does it justice. A systemic roll of the dice. The odds of an orderly exit are laughable.
Twenty Years Ago Today the '87 crash had a 2 month lead time from the mid August high. This market is not going to offer that luxury. Try 2 days.
The USD may make new lows. Barely, like 75.00 It looks like the final stages of a -5- wave down from 77.50 to complete a (5) wave wedge of greater degree down from 79.50 to complete a 5 for C. Whew.
Twenty Years Ago Today the '87 crash had a 2 month lead time from the mid August high. This market is not going to offer that luxury. Try 2 days.
The USD may make new lows. Barely, like 75.00 It looks like the final stages of a -5- wave down from 77.50 to complete a (5) wave wedge of greater degree down from 79.50 to complete a 5 for C. Whew.
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