Comments
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MSNot sure what he's talking about on the options. As of close Jun 19, there is an OI of 27 for the Sep 38 puts. Bid ask .78-.85. So not sure why a trade is being recommended that he not only does have a position in (at least one of some size) but nobody else really does.
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DSInteresting, but too many market problems for me, especially tariff skirmishes turning into tariff wars. The Trump administration wanted a boarder tax to raise lots of revenue and protect domestic markets. A boarder tax needed Congressional action, which failed. The new push for a boarder tax is called a tariff which does not, as yet, need Congressional approval. If tariffs are the new boarder tax, it looks like we are in this for the long haul with many world market dislocations. Too hard for me to call. DLS
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DRMy technical charts support his thesis that many European equities look likely to fall. This also goes hand in hand with our bullish posture on EURUSD from its current level around 1.15, which is more about US dollar bearishness than Euro bullishness. Likewise, US equities will rise further as the US dollar resumes its dive.
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AGThe 38P (sep 21) might open today around $1