Fear vs Greed...June 2020
Fear = Everyone scared of the resurgence of COVID. All of the media is continuously spamming out the major outbreaks in Arizona, Florida, Texas .. and more...states to come. The worst is yet to come and stores are going to shut down again. Apple announces on Friday they will close stores once again. What does this mean? Will others follow suit... In my opinion more than likely! This is bad news for the market.
Greed = The fed will always buy up everything in the market. Every single bull is betting that the Federal Reserve will keep the market a float as long as they want. The longer they hold it up the worse the value of the dollar falls (value of Gold, Silver, Bitcoin and other commodities) will increase. This is good news for stockholders, bad for holders of the US Dollar. Federal Reserve is going to drive the currency into the toilet.
My opinion at this point is highly short term BEARISH for the stock market, long term BEARISH for US Dollar, and Bullish for Silver, Gold and Bitcoin. I am going to take very hard short positions this week if we can confirm a break down of the market on Monday. Check us out www.pineapplestocks.com