forex trading

Daily Cycle Maxed – We Bottom Wednesday

Forex Kong Got something to say?

I don’t own any stocks first off…….and I haven’t for months. What have I missed? Jack squat man……15 weeks of watching this thing day in day out –  wiped in a few afternoons? Not my bag.

I don’t trade Forex much anymore either as it’s lost it’s appeal in comparison to “riding into the future” on a spaceship purchased with Bitcoin.

You may want to to revisit my previous posts / suggestions about cryptocurrency and consider my firm belief that we are on the cusp of an entirely “new financial paradigm” wherein –  I don’t want anything to do with the phoney baloney / last gasp / hand off to retail / overvalued / bought back stocks of the day.

Wall St. is selling like mad, as the last of the “armchair investors” scrape together their last few shillings to buy stocks – right at the top. Just like always. This will never change.

Did you happen to see any of the recent crypto currency gains? Gary? You there? You dolt. Way to go man….running a pay service with suggestions that crypto will go to zero….pure brilliance.

From a technical standpoint, you stock jockey’s are gonna catch another break here mid week with the equities cycle on day 44 now. we are totally oversold and the bounce will come within days “if not” tomorrow. I don’t question that stocks will bob along over the next 3 – 4 months but……if they do get anywhere near the previous highs…once again you’d count yourself as “batshit lucky”.

Dow now at support

Dow now at support

Here on the weekly chart we can clearly see an area of support and resistance around these levels, and the daily trend is still “up” so……another run towards the highs quite probable, although please keep in mind…

This will be the 4th attempt to break thru. How does that line up with a recession on deck? Perfectly…if you plan to sell.

Bitcoin is on a tear as expected but I assume it will pull back to a new level of support here soon – then be off to the races FOREVER.

I’m just throwing out another quick reminder to all – please be cautious. Please bank profits. Please don’t buy anymore CNBC Kool-aid.

Oil baby oil! Silver baby silver! Bitcoin baby Bitcoin!

 

 

 

 

 

 

 

Count Your Lucky Stars – Fed To Talk Down Hike

Forex Kong 3 Comments

Everyone needs to take this “shot across the bow” and the “survival of said shot” – to count their lucky stars. Talk about complacent eh? Damn! I bet a whole lotta folks just got 100% cleaned out!

I don’t mean YOU….I mean the market, and it’s participants “in general”. Everyone still not willing to accept how “flimsy” and “phony” things truly are. How soon we forget.

lucky_stars

lucky_stars

Gone are the company buy backs…..now the Fed “tightening not loosening” monetary policy, guidance for 2019 all pointing down ( these are the companies you invest in TELLING YOU – we aren’t gonna hit the mark in 2019) and then of course….the “incredibly significant” trade war / tensions building with China.

These stocks don’t exist in a bubble right?

There is nowhere to hid when the “entire planet” (or at least those institutions with large enough positions to affect markets) turn from buy to sell . NOTHING survives.

So hey…..this time around we catch a break.This time.

The Fed meetings get underway tomorrow. This is everything now.

The idea of interest rates climbing higher is the absolute foundation for this sell off. You get it right? You realize how leveraged to the freakin balls these big trading houses  / investment firms / wall st. gangsters are? Another basis point higher, and that nice new house out in the Hampton’s you’ve double mortgaged and now taken additional loans against gonna be the banks soon. You don’t own shit.

So here’s how it goes down.

  1. Fed holds out and doesn’t make the hike = markets are back off to the races for a final shot to the highs. USD tanks / final roll over / another fantastic short entry – post fed. Gold and commods final bottom. Crypto as well.
  2. Fed makes hike ( as it’s already priced in fok……look at the slide ) but TALKs down the next few = markets are back off to the races for a final shot to the highs. USD tanks / final roll over / another fantastic short entry – post fed. Gold and commods final bottom. Crypto as well.

There it is.

You’ve got one more shot at the highs, before May of 2019 and it’s time to get down in your bunker.

Buy water and gas…..buy crypto / silver n gold, and consider moving inland.

There’s more than a little problem up north, and it’s coming a lot sooner than 2030.

 

 

 

 

Dow Weekly Swing Low – Back To The Highs

Forex Kong 4 Comments

The completion of this “intermediate cycle” is now within striking distance, after several days of extremely frustrating / volatile trading. Wow – what a shake out.

Now the technicals are “just a hair away” from confirming a “weekly swing low” (when the close of the weekly candle is “higher” than the close of the previous weekly candle).

You see it here? Just a few more points and the swing will be complete.

Dow Weekly Swing Low

Dow Weekly Swing Low

I would also take note of the “screaming double top” There around 26,900. Yo can clearly see rejection back in Jan/Feb as well as here in October.

The average stock today (ok a few days ago) is trading at 73% above its historical average valuation.

There are only two other times in history that stocks were more expensive than they are today: just before the Great Depression hit and in the 1999 run-up to the dotcom bubble burst.

One would have to ask themselves ‘What possible upside could remain” considering the gong show in evaluations, the bleak earnings we just saw in Q3, the trade war as well both China and Russia dumping BILLIONS of U.S Dollar Debt…..and the results of the mid term elections likely to have “significant impact” if indeed democrats steal back the house or senate.

Since March, Russia has dumped 84% of it’s American debt holdings! 84%! The bond selling has now reached “waterfall levels” with no real signs of support.

The U.S Dollar is set for the next “dumping” here as of today as well.

With the weekly swing low “essentially in” one might expect that stocks shoot for the highs here once again BUT! Mid terms could put a rook in those plans.

Generally speaking……what we will see over the next few weeks will be those retail investors who have “finally gotten off the couch” thinking this time it will be different.

It’s never different.

10 years straight up……..unprecedented. How does 2-4 years down sound? 

Totally normal, as we’ve got 150 years of data to work from.

10 years up? Common…….the “down” is gonna look equally nutty.

 

 

 

Time Travel – Stock Markets – Cryptos ‘n Space

Forex Kong 1 Comment

Time travel is a bitch you know….

You feel as though you’ve only been gone for a second yet…. on return soon realize things have really changed. I mean like………really changed.

It’s been a fairly long time…and I apologize for that. Travelling the cosmos in search of new technologies is an arduous task yet incredibly satisfying when you hit your mark. Unfortunately this time I’ve come back to Earth somewhat empty handed, realizing that for the most part……seemingly…Earth itself is the current “hot bed of activity” with respect to new technologies and advancement.

What do you know eh?…..now if only we could stop killing each other, and perhaps slow the rate of environmental destruction to a crawl – maybe there’s a chance Elon gets a few of his supporters up to Mars before Trump nukes Korea. Bravo Elon….you’re on the right track brotha.

As I said….things have changed quite dramatically since my last visit.

Looking into markets, I continue to invest heavily in cryptocurrencies as ( if you don’t quite get the full picture – totally understandable and not unlike the vast majority of people ) this being the point exactly.

We stand on the cusp of a new era. A new beginning. A fresh start for those a generation behind, where “old money” still struggles with the concept. Totally understandable. It’s wild. It’s nutty……but it “is” the future, and it “will” change the face of our current economic system. There is incredible opportunity here so please….don’t sell yourself short. You can do it. You can learn this. You’ll get it. I promise.

space-gorilla

space-gorilla

Litecoin. Research it. Bitcoin…will inevitably become a “store of value” much like gold exists in our current paradigm. Understand it. Tron/TRX  is a token out of China that I have 100% confidence will provide 100X returns over coming years ( yes I said years ) so throw that on your radar as well. Justin Sun ( Tron’s creator ) is the protegé of Jack Ma ( I bet you know what Alibaba is no? ) so imagine when these guys put a few more deals together. Tron gonna fly.

As for Forex……well. My long-term predictions on the “ultimate demise of the U.S dollar” are obviously coming to fruition. This dog has been tanking now for months ( nailed it / killed it / banked coin ) and to be honest…….I’ve completely lost interest. There is no debate. The U.S Dollar will continue to fall, and with the advent of cryptocurrencies….likely harder / faster than originally suggested.

You can STILL short USD – like……Monday morning.

Stocks are insane…..I’m not touching them with a ten foot laser beam as…..the volatility ( -724 type days ) is a larger indication of the Wall St. machines “slowly” switching the algos to “sell”. Cover your asses….keep profits / hang on to cash and stop considering “this will go up forever” – cuz it won’t. Catch what you can over coming months but…….I’m 100% out of stocks….short of the continued rise in Canadian marijuana companies.

It will take a single headline these days ( Trump impeachment ?? ) to wipe out every single nickel you’ve made over the past year so…….take heed. Party on.

 

 

 

 

 

Crypto Kong – Killing It On Cryptos And Weed

Forex Kong 3 Comments

The purchase of both Bitcoin and Ethereum back on Sept 22nd has been incredible.

All about the same time most “financial gurus” where suggesting crypto currencies were finished – low and behold….a dip and only a dip as Bitcoin is set for higher highs….then higher highs again.

In Canada I use QuadrigaCX for my crypto trading and they are great.

I highly recommend starting an account as it only takes a minute / is so easy and connects directly to your bank account for deposits and withdrawals.

USD has floundered / not “crashed” to the degree that I imagined but…the trade there as well, having held for 3-4 weeks short = Killer.

Shall I go on?

How bout the Canadian Marijuana Stocks??

I bought Aurora at 2.15! ACB

I bought Canopy Growth at $7.50! WEED

And recently picked up THC BioMed ( a friends company in Canada ) at .40 cents. It was .99 cents yesterday!

You know I’ve got the newsletter, and you know how bullish I am on Canadian Marijuana companies. The last 6 weeks have been unreal, as I seriously doubt we will ever see these price levels again.

Jump on the mailer and you might just catch the next wave.

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MAJOR TRADE ALERT! – U.S.D Bear Market Confirmed

Forex Kong 3 Comments

The U.S Dollar has now confirmed what I’ve been suggesting for literally “years”.

The latest fall has USD generating “yet another” failed daily cycle, confirming that the United States Dollar is headed for the basement. Cryptocurrencies have now taken centre stage, along side The Euro, as the second most widely held reserve currency on the planet.

The U.S Dollar will be sold “even more aggressively” than in recent weeks / months and the trade is now “more than safe” to enter.

You get short USD – NOW…..and you stay that way until mid October. This is major, major, major serious news but not likely front and centre on your local news ( In the United States I wonder if it will be mentioned at all!) as you know my thoughts about that. We’ve only got one small support zone left to break, and it’s literally…..a loooooong way down after that.

USD - Bear Market Begins

USD – Bear Market Begins

Gold, Cryptocurrencies ( such as Bitcoin ) and The Euro will explode higher, as USD takes a serious nose dive over coming weeks. I’m even considering a target as low as the 85 area by mid October when “once again” the U.S Debt Ceiling is reached…then extended – as always!

We’ll get into specific trades here starting Monday, but in all…….( and I rarely say this in trading Forex ) this is going to be easy money / a very straight forward trade.

Get short USD now…..get long Gold, The EURO and most any cryptocurrency you can manage – then we’ll see how you feel come mid October.

Think about buying yourself some “weed” for more than a few reasons in wake of this USD Bear Market…now confirmed.

I am heavily immersed in the Canadian Marijuana biz ( more on that later ) and am currently spouting off everything I know – “and will know” as Canada moves towards federal legalization spring of 2018. Hit the newsletter sign up – you won’t be disappointed.

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What If…..Kong Plays Devils Advocate

Forex Kong 10 Comments

It never hurts to consider the “what if’s” – right?

Playing the devil’s advocate here, I fully understand the complete and total “retail euphoria” currently playing out in markets. Don’t get me wrong either….I’ve missed a couple trades here and there. Fair enough.

Shit happens.

Stepping back and taking a wider view…the SP 500 hasn’t “really” gone anywhere for a full month ( some 20 odd trading days ) as much as the general media hype would still have you think you’ve missed the boat.

“This” isn’t exactly what I call missing a large scale move:

SP 500 - 20 days flat

SP 500 – 20 days flat

Now the “what if”.

You all know I watch the Japanese Nikkei much closer than I generally do the SP so….

The weekly Nikkei is still suggestive of a considerable pullback on the horizon OR…..(and this is still quite possible) a major top / market reversal spanning several weeks.

Nikkei Looks Tough To Me

Nikkei Looks Tough To Me

There is tonnes of room below – on route towards both the 50 day MA as well the 200 ( and we all know I love that 200! ) but more than that…..the previous high back there in Nov/Dec has yet again proven to be a very strong area of resistance.

What if……the Nikkei does still lead? What if….this retail “blow up” turns dramatically dark / sinister on some kind of “nuke news” out of Korea? What if your newly financed car ends up back on the lot since you recently dumped your life savings into the market?

Personally…..and I’ll say it again….I don’t like it.

I’m looking for a good reason to jump off the fence so….. your comments and opinions more than welcome.

If it’s all just rainbows and butterflies…..why am I not buying stocks?

 

 

 

USD Update – Pot Stocks As Well

Forex Kong 3 Comments

For those of you who’ve so “intelligently subscribed” to “Kong’s Pot Stock Watch” – I commend you.

Aurora Cannabis has shot up some 15-20% ( don’t quote me here ) over recent days…and is holding / looking good! I’m well into it / averaged in around 2.25 and Canada is still on track to get this stuff legal in coming months. The trade alert come out over the weekend….so don’t be a fool. Get signed up and catch the next one.

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In other news…

The U.S Dollar is a dog. You know my longer term thoughts / views on the money printing and the chaos that will one day ensue. Regardless….still looking for a near term bottom here ( as seen in previous charts of USD/CAD ) and a likely move to the upside.

Today we see a “swing low” on day 17-18 of the daily cycle so…..don’t get out the red panties but I assume USD will take a bounce here.

That’s it – I gotta run. It’s summer and I’m busy doing things that make sense….not staring at charts / watching paint dry, but don’t think for a minute I’ve taken my eye off the ball.

I know everything. I see everything. I am thousands of years old……

I just can’t remember most it.

Forex_Kong_Hungry

Forex_Kong_Hungry

 

 

 

Canada Tough Times – Headlines Suggest Otherwise

Forex Kong 2 Comments

I’ve recently come to understand “just how complacent” the general investment community is up in Canada. Now don’t get me wrong –  I am an extremely proud Canadian. I love Canada as anyone so fortunate to have been born in Canada “should” love Canada. However…….

A recent article outlining the current “debt to income situation” in Canada, coupled with the recent “decline in housing sales” and recent rise in interest rates juuuuust might confirm what I’ve been fearing for some time.

The headlines continue to suggest an improving economy, and it appears that the vast majority of Canadians are still living under the guise that “nothing could possibly go wrong in the Great White North”.

I’m looking ahead to Canadian Dollar weakness….as well offer you some “additional reading” below the chart. Interest rates on the rise with the ratio of debt to income – not looking so great.

USD/CAD

The US dollar has fallen vs CAD for the past 2.5 months! I’m watching the 1.2458 number ( a double bottom / area of support looking back to the big green candle there in April ) for the fall to stop – USD to move back to the upside.

Expecting Double Bottom in USD/CAD

Expecting Double Bottom in USD/CAD

Some time ago, Deutsche Bank’s chief international economist, Torsten Slok, presented several charts which showed that “Canada is in serious trouble” mostly as a result of its over reliance on its frothy, bubbly housing sector, but also due to the fact that unlike the US, the average household had failed to reduce its debt load in time. Read more below….and take it for what it is. Canada “reality check” most certainly on the horizon.

http://www.zerohedge.com/news/2017-07-12/canada-serious-trouble-again-and-time-its-real