Facebook Faceplants and More
-15% off highs
Before we get into Facebook, we wanted to give Reuters a shout out on this Nat Gas margin call article linked here, Reuters Nat Gas Margin Calls
As Econemotions readers know, we have highlighted Nat Gas and have called for such expected margin call and hedge fund blow out potential and its nice to see Reuters dig in,
“Glencore, Gunvor, Trafigura and Vitol are among the commodity merchants facing what are known as margin calls on their financial positions in natural gas markets, the sources said.”
We shared the link so enjoy. We continue to expect this to be a highlight for the months to come so this story if far from over.
Now onto Facebook, long time Econemotions readers know how critical we are of this free speech censoring behemoth and look its not politics, ok, rather its something that we believe deeply in and that is the constitutional right of free speech. Without free speech, real democracy cannot exist and we will never relinquish or let down when it comes to this topic.
So much of our world has been shaped by censorship, shaped by narrative and this recent Facebook issue is just more of the same. We know Ed Bernays was the grandfather of the US propaganda narrative punch bowl serving koolaid distributer to the masses. If you don’t know who he is, well read up. The mind is easily swayed and it is why we disdain censorship and limiting free speech. We do not use the word conspiracy here at this blog, rather we know from far too many instances that the word in of itself constitutes a negative connotation rather we would just rather peel the onion for ourselves and discover the conspirifact. Can we coin that??
Anyway its no secret that the US govt has been working with Facebook to censor posts, in fact the Biden administrations own mouth piece Jen Psaki stated it clearly recently in a press briefing:
Wait what? You are flagging whose posts? For whom? Facebook? Please delight us with more open honesty.(btw these are her actual words) here is the actual msn.com video, Psaki on censoring with Facebook
All of this reminds me of one of the most iconic Dirty Harry scenes:
Wait what’s this, even the conservative 60 Minutes dares down the path of conspiracy with more conspirafact by inteviewing a whistleblower on Sunday night, ensuing that Facebook, is “betraying democracy”:
Of course the Facebook blog had to save face as a massive outage occurred (purging some servers much?) Anyway here is part of the statement they released with our obvious highlights in yellow:
“NO EVIDENCE USER DATA WAS COMPROMISED”
Sure, ok, we believe you…
Well its no wonder the markets are jittery, you mean we can’t have global shutdowns and vax mandates and just expect people to take it, do the controllers really think freedom is free and that people will just submit? Well they can censor and hide what is going on but from NY to PARIS to MELBOURNE, well you get the picture:
Oh yea and let’s not forget that other Russiagate Conspiracy…well as we tell our readers time and time again, there is no such word, only facts and if you don’t think its still an issue, well see what Durham has been up to:
The link to this story from Roger Simon and Epoch Times is here, Russiagate
These are all very relevant stories to our times and add to all the uncertainty and uneasiness, which spills into global markets whether we believe it or not, whether you believe it or not, it still exists and its why we bring it to your attention. Life is a puzzle and its our job to piece it together.
We also know and touched upon the shipping story last week and we know this too is not going anywhere anytime soon. We keep hearing about Cali ports being so overstocked that ships are now anchored and waiting, well as India Shipping News reports,
“There are over 60 container ships full of import cargo stuck offshore of Los Angeles and Long Beach, but there are more than double that — 154 — waiting to load export cargo off Shanghai and Ningbo in China, according to eeSea, a company that analyzes carrier schedules.”
Yes this is a very massive problem which affects every single industry known to man… and the article went on to highlight this fact, that spot rates were once $1500-$2000 are now $20,000. Well you think that inflation cost can be born by the end user??? I don’t think so, so think profit shrink, think supplier shrink, think consumer conscientiousness. This will for the foreseeable future be very problematic for a one global economy:
Alright onto the technical market charts:
US Govt 10y has seen support at the top of the range at 1.57% and we expect this area to hold with 1.62% backing it up:
As far as the Nasdaq, well technical damage has been done, but we expect support down here at 14400:
The Nikkei has moved back into the longer term box and the .382 should provide decent technical support as well:
RBOB has been pushing the upper limits on a stop hunt and is now poised to take out prior long term highs:
Finally let’s look at the Facebook chart where, we have noticed 15% drops are rare, but are supported generally in the long run, so we won’t be shocked at a rally from here:
Finally we are reading an excellent book “1491” by Charles Mann:
Its all part of our quest to understand our existence outside of the main stream narrative. We pride ourselves in research and this book is offering a different look at our past. The key to a civil and open society amongst many things is also compassion and understanding, it is something we strongly believe in and it is our job to understand things from all perspectives and be open about the fact that we don’t know everything, and for the majority and this is sad to admit, but they only know what they are told…sad but true.
We have hundreds if not thousands of libraries and its safe to say we have a generation that’s probably never set foot in one of them and this is why their minds are easily swayed, because what they don’t know, they don’t know and they lack the critical thinking skills to even question. This is how generations are lost to only be fought for at some point in the future again…
Till next time.
Please think about joining the ranks that subscribe and get our thought process when we see things that are relevant, that matter and not just the BS fluff you get everywhere else. Your support is greatly appreciated. We write about the equivalent of one book a year on this site and the volumes we speak should transcend a lot further than these pages. You should be able to implement a lot of this into your game plan not just in trading, but in all walks of your life. We are in this together whether you believe that or not, it doesn’t matter, we are all connected, so stay positive and know your atoms do have an effect on everyone else around you, so STAY CALM and SIGN UP TODAY!
-Magnelibra Econemotions
DISCLAIMER: For educational purposes only. This is not a solicitation to buy or sell commodity futures or options on neither commodity futures. The risk of trading securities, futures and options can be substantial and is not for everyone. Such investments may not be appropriate for the recipient. The valuation of futures and options may fluctuate, and, as a result, clients may lose more than their original investment. Nothing contained in this message may be construed as an express or an implied promise, guarantee or implication by, of, or from the author Michael Agne owner of Magnelibra Capital Advisors. We will never claim that you will profit or that losses can or will be limited in any manner whatsoever. Past performance is not necessarily indicative of future results. Although care has been taken to assure the accuracy, completeness and reliability of the information contained herein, we make no warranty, express or implied, or assume any legal liability or responsibility for the accuracy, completeness, reliability or usefulness of any information, product, service or process disclosed. ALL RIGHTS RESERVED 2021