Negative U.S GDP – Just How Negative?

All eyes on U.S GDP numbers this morning to “once again see” if this market “finally” looks to recognize the deteriorating fundamental picture.

This is the third “revision” of first quarter GDP ( I have no idea how/why it’s the 3rd time this number is estimated but… ) it’s expected to come in around -1.8% Yes…..that’s “negative growth” for the first quarter of 2014 folks.

What’s interesting with our trading is that…..we’ve effectively “gone long USD” to a certain degree in taking profits across GBP/USD, EUR/USD as well USD/CHF now holding long USD vs NZD, AUD and CAD with the long JPY trades still in play.

I hope that members come to recognize how “fluid” this trading can be as……the fundamental landscape may change “underneath” while we move with the “swings” and keep ourselves nimble.

This can obviously go two ways here this morning….so please be very alert / numble / ready to act. Yesterday’s bizarre “late day reversal” seemed quite telling to me, as we’ve already seen the weakness in Nikkei, the commods ( AUD and NZD ) as well a pretty brutal day for U.S equity bulls so…..

A big day today or not? We should get some solid clarification on USD future movement as a decent move higher here would be quite exciting, possibly putting to rest our “concerns” for USD movement “lower” over the medium term.

Man the battle stations everyone! Today could be a whopper!

9 Responses

  1. Gary June 25, 2014 / 7:54 am

    Wrong again

    • Forex Kong June 25, 2014 / 8:45 am

      How do you figure that out genious?

      Once again…..the stage is yours to trip over all on your own.

      Tell us! Show us! Please go ahead!

      • Gary June 26, 2014 / 8:41 am

        Wrong again with the long dollar call. One could maybe go short the dollar (I’d wait till it breaks the May low) but you can’t go long with the dollar moving into the timing band for a three year cycle low (well maybe if you are just day trading). Better to sit on the sidelines.

        Just like you have been wrong all year with the aussie short. Way too early trying to short the stock market. That’s not even a trade that anyone should take as the Fed is protecting the market while they taper. They don’t want a repeat of 2010/11. Ridiculously wrong on gold going back down. That one was funny as you posted it right before gold surged $40. I entered full positions at the open on June 5th. We now have a huge cushion and can place a break even stop on all miner positions.

        To borrow one of your phrases…we’re killing it 🙂

        • Forex Kong June 26, 2014 / 8:50 am

          I have to say Gary…..this time you’ve really taken the cake.

          Are you watching? Are you actually in front of a computer that has the power on?

          I look forward to your continued “justifications” and welcome you for the entertainment value alone.

          I don’t justify jack squat. I must make 12-15 trades in a given month / week even with a very happy group of subscribers that continue to do the same.

          Go climbing pal. I’m doing just fine with the calls / trades I make.

    • Anonymous June 28, 2014 / 9:56 am

      Gary, your website is nothing more than a classless slanging match. Filtering out the abuse in the comments section is tedious.
      Kong has my back and has done from the start – Right, wrong, good, bad or ugly.
      You’re not welcome here Gary, Piss off.

  2. Bryan Adams June 26, 2014 / 9:20 am

    Subscribing to Kong for awhile now I have come to appreciate his views and opinions. he explains his position clearly unlike so many others that cover the trade in words from every possible angle with no fear of ever getting a losing “word” trade.. Thanks for all you do

    • Forex Kong June 26, 2014 / 9:41 am

      Thanks Bryan – I appreciate the good word.

  3. PlayThePlan June 27, 2014 / 3:21 am

    Have been a subscriber to Kong since day one.

    Love the no nonsense approach to what he see and believes.

    If you want fancy words and a highly polished, slick articles, go to any MSM site which feed you bull S**t day after day of how wonderful everything is.

    Yes, Kong makes calls and his calls in the commodity currencies as well as indices have not bared any fruit as yet but when even the Central Bankers of Australia comment that they have no idea as to why their currency is so strong in the light of falling commodity prices as well as the fact that their economy will be slowing down partly in response to their harsh budget, how do you expect Kong to know, all he can do is trade what he feels and sees.

    But Kong has always advocated proper money management and never ever advocated betting the farm on any single trade so even if he is wrong, he certainly isn’t sitting on heavy losses and neither should anyone who has been following his advice. And lets not forget, the many banked pips since the start of the service.

    Things aren’t as polished as they could be on this site but give it time and hopefully this will materialize. After all, Kong can only expect to develop the site if subscribers give him their input.

    On that note, Kong, would it be possible for you to show an “average price” of the trades you have open on the trade table? It would allow subscribers to see (and even mirror) your trades if we so wish based on our own analysis?

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