Volatility Reports 8/21/23
August 20, 2023
August 20, 2023
It’s not fortune telling. From experience with an open mind there is confidence in what the market is saying.
In most cases before the media knows how to spin the news…
“Another day brought another troubling sign for the Chinese economy. Beijing authorities are said to have told state-owned banks to step up intervention in the currency market in a push to prevent a surge in yuan volatility. Senior officials are also considering using tools such as cutting banks’ foreign-exchange reserve requirements to prevent a rapid depreciation in the currency. The request came as the yuan fell toward 7.35 per dollar. A broader sense of gloom had already descended on China’s markets this week, even as Beijing sought to bolster sentiment with a surprise interest-rate cut, a string of stronger-than-expected daily reference rates for the yuan and large injections of short-term cash to the financial system. Despite all of these measures, the onshore yuan is tumbling toward the weakest level since 2007 and a key index of shares in Hong Kong is close to a bear market.” —8/18/23 David E. Rovella
Great opportunities do not come every day. Most people are ok with that. I have good ones on my team that think and trade in terms of an average. I prefer to sit on my hands until I get my setup. I think and trade for home runs, the grand slams. If you think like me, I have a low-cost way for you to see that it’s for real.
The above trades taken the day after I Published on: Jul 31, 2023, Volatility Reports.
The above trades are based on details contained in our two publications updated below with insights into the equity markets, interest rates and new select trade ideas.
Great and Many Thanks,
Jack F. Cahn, CMT
Contrary Thinker since 1989,
Contrary Thinker 1775 E Palm Canyon Drive, Suite 110- box 176 Palm Springs, CA
92264 USA. 760-459-4681 OR
25/1 Poinsettia Court Mooloolaba, QLD Australia 4557 614-2811-9889
— Contrary Thinker does not assume the risk of its clients’ trading futures and offers no warranties expressed or implied. The opinions expressed here are my own and grounded in sources I believe to be reliable but not guaranteed.
— My indicators and strategies can be withdrawn for private use without notice, at any time.
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