Markets: What Gets Gold Going, Bitcoin Roofing

Housekeeping: Good Morning. What gets PM Going, Bitcoin roofing, Excellent CTA coverage (Prem)

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WOTD:

Anfractuous- adjective: Full of twists and turns.

ETYMOLOGY: From Latin anfractus (winding), from an- (around) + fractus, past participle of frangere (to break). Earliest documented use: 1425.

USAGE: “Yesterday the market chopped me up. It was anfractous”

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Contents

1. Current Prices

2. Yesterday’s Activity

3. Data Due

4. News

5. Markets/Metals Commentary

6. Attached:

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COTD:

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Yesterday’s Activity:

Comment:

• Precious Metals-

• Oil/NG-

• US equities-

• Bonds-

• DX-

• BTC/ETH- orders indicate new ATH 30,40k 50,60k 70k

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Week’s Data:

• MONDAY, FEB. 26 New home sales

• TUESDAY, FEB. 27 Durable-goods orders

• WEDNESDAY, FEB. 28 GDP (first revision)

• THURSDAY, FEB. 29 PCE index 0.3% 0.2%

• FRIDAY, MAR 1 S&P U.S. manufacturing PMI

Full calendar¹

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News:

Top MSM News Links Here

NOTABLE HEADLINES

• "The Justice Department has launched an antitrust investigation into UnitedHealth, owner of the biggest U.S. health insurer, a leading manager of drug benefits and a sprawling network of doctor groups. WSJ

• Apple is canceling a decadelong effort to build an electric car... abandoning one of the most ambitious projects in the history of the company. Bloomberg

• More²

GEOPOLITICS

• China’s southern technology hub Shenzhen has rolled out plans for a big expansion of car exports, a plan that is likely to fuel western fears about rising Chinese competition for domestic manufacturers.

• Democratic and Republican congressional leaders struck an optimistic tone that they would avert a government shutdown this weekend

• More³

Some headlines via NewSquawk or DataTrek

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Markets/Metals Commentary (Charts):

Comment:

Excerpt: What The UBS model says about CTA positioning in Commodities

• CTAs bought oil and sold precious in size in February. We expect ⅔ of those flows to reverse in the next two weeks .

• 'Contrarian' trades: bullish metals (both precious and industrials), bearish Oil and Coffee

  Much more in premium

• Gold- Fed ease, China bazooka, CTA flows

• Silver-Gold going up will trigger short covering, chart comment

• Oil-

• Stocks-

• BTC/ETH- why new ATHs on the table

• Bonds-

Zen Moment:

*** Holding Place***

Premium Attached:

Stay right here for the premium portion of the broadcast.

Everything said about Gold and Silver CTAs is confirmed except the most important thing.. they might be buying again soon