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Markets: What Gets Gold Going, Bitcoin Roofing

China Goes Full Mercantile, Apple Abandons Cars
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Housekeeping: Good Morning. What gets PM Going, Bitcoin roofing, Excellent CTA coverage (Prem)


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”


Contents

  1. Current Prices

  2. Yesterday’s Activity

  3. Data Due

  4. News

  5. Markets/Metals Commentary

  6. Attached:


COTD:


Yesterday’s Activity:

Comment:

  • Precious Metals-

  • Oil/NG-

  • US equities-

  • Bonds-

  • DX-

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


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


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


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

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GoldFix
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