TACO strikes again! As expected, Trump’s “tough guy” schitck didn’t mean dick, and the Friday “100% tariff on China!” nonsense was reversed swiftly. The market, wisely, is starting to completely distrust the guy, so instead of utterly reversing its losses, it has deigned to give up just half of them. The /ES, for instance, spiked higher on Sunday and has been marking time ever since. You will note that the initial tariff-scare plunge (left side of chart) is fully intact.
Precious metals were strong on Friday, yet even stronger this morning, even under totally different circumstances. Gold and silver are at levels never seen before.
I’ll say this – – there is no way on God’s green Earth that a man who would stoop to hawking Bibles and watches on the tee-vee for a few hundred thousand bucks isn’t taking full advantage of these multi-trillion-dollar whipsaws. I’m confident that one day we’ll learn we’re all just being played with these tweets, and he’s milking them for billions. As for now, though, we’ll just have to muddle through as best we can with charts as our only ally!
