Adam Montana Weekly 10 June 2020

[DinarThug]

3 hours ago, Floridian said:

Good thinking, Synopsis!   😊

 

5 hours ago, umbertino said:

Thanks Adam

Good ‘Thanking’ Umbertino !  

 

 

Of Course Not As Good As The Great SandFly !  

 

 

He Wasn’t Nearly As ‘Wordy’ - And Didn’t Have To Rely On All The Gesturing ...

 

 

     

[NoviceInvestor]

Thank you Adam .. again a very much appreciated post.. 

i am quietly anticipating and totally excited about something .... Not sure what to expect 🤔after such a long journey 🙏🏻🙏🏻🙏🏻.

[Shotgun Rider]

No offence Artitech, if you don't believe it will RV, why are you here. Just asking. Believe me,  I get discouraged my self, but, I keep coming back.Hope you do the same. Been on this ride 14, almost 15 years.

Edited June 10, 2020 by Shotgun Rider

[DinarThug]

Carrello

• Carrello the KamelKeeper
• 
• Members

1 hour ago, Carrello said:

Mr. Al-Kazemi: Restoring consideration to Mr. Sinan al-Shabibi   Wednesday 10 June 2020   I do not know Mr. Sinan al-Shabibi and I have never met him, but I have heard like the rest of the citizens that he is excluded from the central bank because he refused to obey the orders of corrupt heads and implement what they ask of him and accused him of false accusations, and this corrupt elements have vandalized him by the vile methods to topple the national and clean elements and the man is known on a global level Mrs. Magda Al-Tamimi made a statement in an interview during Al Sharqiya TV channel in the past days that the currency auction takes advantage of one-fourth of the corrupt in the Central Bank, so what is required is to take Mrs. Al-Tamimi's claim seriously, open an extensive investigation in this regard, restore consideration to Mr. Sinan Al-Shabibi and return him to his position as governor of the Central Bank and benefit From his experience and sincerity  (this is a brief summary from the free encyclopedia)   Sinan Muhammad Raza al-Shabibi “Sinan al-Shabibi” was born (July 1, 1941, Baghdad) economist and governor of the Central Bank of Iraq from September 2003 to October 2012. It is the first governor of the Central Bank after the occupation of Iraq by the coalition forces.   Growing up and educating al-Shabibi was born in Baghdad on July 1, 1941, and his father, Muhammad Reza al-Shabibi, is a prominent Iraqi poet, thinker, and politician. Al-Shabibi attended the College of Economics and Political Science at the University of Baghdad and graduated in 1966 with a Bachelor's degree in Economics, and also obtained a diploma in Graduate Studies in Development and Economics, Masters degree in Economics from the University of Manchester in Manchester, United Kingdom (1970-1971) . He also obtained a PhD in Economics from the University of Bristol in Bristol, UK in 1975.   Beginning of his career from May 1975 until March 1977, Sinan al-Shabibi was head of the Import and Marketing Department at the Iraqi Oil Ministry, and from April 1977 until December 1980, al-Shabibi was head of the Planning and Coordination Department of the Iraqi Ministry of Planning.   After the Iraq-Iran war erupted, al-Shabibi moved to Geneva, Switzerland, where he stayed from December 1980 to October 2001 and worked as an economist at the United Nations Conference on Trade and Development. Governor of the Central Bank of Iraq   Since assuming the position of Governor of the Central Bank of Iraq, he introduced modern accounting systems and payment systems for the financial institution, replaced manual printers and computers with modern computer systems, and accounting tools as currency auctions, and replaced the pre-2003 currency with the new currency between October 2003 and January 2004. He also involved the Central Bank of Iraq in the International Monetary Fund and the World Bank, in addition to the Paris Club negotiations, where 19 countries agreed to exempt Iraq from 80% of pre-2003 debt to help Iraq recover from the US-led post-war phase 2003.   Despite local and regional instability in the region, Al-Shabibi managed to maintain the Iraqi dinar exchange rate against the US dollar at 1190 dinars per 1 US dollar (while the exchange rate was 2214 dinars per 1 dollar in 2002), and reduced the inflation rate (from 64% in 2006, to 5.2% in 2012), and doubled the gold reserves to 32 tons, and remained a strong advocate for the independence of the Central Bank. His use of these policies and high oil revenues helped raise foreign exchange reserves to nearly $ 67 billion (in September 2)) over December 2002 $ 2.7 billion 2012)   We hope that the right man will be in the right place.     https://kitabat.com/2020/06/10/%D8%A7%D9%84%D8%B3%D9%8A%D8%AF-%D8%A7%D9%84%D9%83%D8%A7%D8%B8%D9%85%D9%8A-%D8%B1%D8%AF-%D8%A7%D9%84%D8%A7%D8%B9%D8%AA%D8%A8%D8%A7%D8%B1-%D9%84%D9%84%D8%B3%D9%8A%D8%AF-%D8%B3%D9%86%D8%A7%D9%86-%D8%A7/

--

 

6 hours ago, Adam Montana said:

Also noteworthy is an article DT posted in last week's Weekly update.
If this kind of stuff doesn't put a smile on your face, nothing will!  

This One Posted Today By Ms Carrello Is Even Better !  

 

     

 

 

Mr. Al-Kazemi: Restoring consideration to Mr. Sinan al-Shabibi
 

Wednesday 10 June 2020
 

I do not know Mr. Sinan al-Shabibi and I have never met him, but I have heard like the rest of the citizens that he is excluded from the central bank because he refused to obey the orders of corrupt heads and implement what they ask of him and accused him of false accusations, and this corrupt elements have vandalized him by the vile methods to topple the national and clean elements and the man is known on a global level 

Mrs. Magda Al-Tamimi made a statement in an interview during Al Sharqiya TV channel in the past days that the currency auction takes advantage of one-fourth of the corrupt in the Central Bank, so what is required is to take Mrs. Al-Tamimi's claim seriously, open an extensive investigation in this regard, restore consideration to Mr. Sinan Al-Shabibi and return him to his position as governor of the Central Bank and benefit From his experience and sincerity
 

 

(this is a brief summary from the free encyclopedia)
 

Sinan Muhammad Raza al-Shabibi “Sinan al-Shabibi” was born (July 1, 1941, Baghdad) economist and governor of the Central Bank of Iraq from September 2003 to October 2012. It is the first governor of the Central Bank after the occupation of Iraq by the coalition forces.
 

Growing up and educating al-Shabibi was born in Baghdad on July 1, 1941, and his father, Muhammad Reza al-Shabibi, is a prominent Iraqi poet, thinker, and politician. Al-Shabibi attended the College of Economics and Political Science at the University of Baghdad and graduated in 1966 with a Bachelor's degree in Economics, and also obtained a diploma in Graduate Studies in Development and Economics, Masters degree in Economics from the University of Manchester in Manchester, United Kingdom (1970-1971) . He also obtained a PhD in Economics from the University of Bristol in Bristol, UK in 1975.
 

Beginning of his career
from May 1975 until March 1977, Sinan al-Shabibi was head of the Import and Marketing Department at the Iraqi Oil Ministry, and from April 1977 until December 1980, al-Shabibi was head of the Planning and Coordination Department of the Iraqi Ministry of Planning.
 

After the Iraq-Iran war erupted, al-Shabibi moved to Geneva, Switzerland, where he stayed from December 1980 to October 2001 and worked as an economist at the United Nations Conference on Trade and Development.
Governor of the Central Bank of Iraq
 

Since assuming the position of Governor of the Central Bank of Iraq, he introduced modern accounting systems and payment systems for the financial institution, replaced manual printers and computers with modern computer systems, and accounting tools as currency auctions, and replaced the pre-2003 currency with the new currency between October 2003 and January 2004. He also involved the Central Bank of Iraq in the International Monetary Fund and the World Bank, in addition to the Paris Club negotiations, where 19 countries agreed to exempt Iraq from 80% of pre-2003 debt to help Iraq recover from the US-led post-war phase 2003.
 

Despite local and regional instability in the region, Al-Shabibi managed to maintain the Iraqi dinar exchange rate against the US dollar at 1190 dinars per 1 US dollar (while the exchange rate was 2214 dinars per 1 dollar in 2002), and reduced the inflation rate (from 64% in 2006, to 5.2% in 2012), and doubled the gold reserves to 32 tons, and remained a strong advocate for the independence of the Central Bank. His use of these policies and high oil revenues helped raise foreign exchange reserves to nearly $ 67 billion (in September 2)) over December 2002 $ 2.7 billion 2012)
 

We hope that the right man will be in the right place.

 

https://kitabat.com/2020/06/10/%D8%A7%D9%84%D8%B3%D9%8A%D8%AF-%D8%A7%D9%84%D9%83%D8%A7%D8%B8%D9%85%D9%8A-%D8%B1%D8%AF-%D8%A7%D9%84%D8%A7%D8%B9%D8%AA%D8%A8%D8%A7%D8%B1-%D9%84%D9%84%D8%B3%D9%8A%D8%AF-%D8%B3%D9%86%D8%A7%D9%86-%D8%A7/

--

[Goggles]

Thank you Adam and Teams!! Go RV!! 

[ronscarpa]

THANKS ADAM - BLESSINGS...!   RON

[Rochester]

Thanks to Adam.

 

Thanks to everyone who bring news feeds. We all benefit from your steady work. 

[Inbedded HorseHead]

I know how to kick start the RV,  I’ll sell mine tomorrow,  guaranteed to RV on Friday....

[psdon]

Thank you Adam ((( are we there yet )))

[6ly410]

 

[Hearts]

Thank you Adam. It looks like the encouraging events  we have seen lately are just the precursor to the event we have been waiting patiently to occur. Adam, you are the best!

[NoviceInvestor]

1 hour ago, 6ly410 said:

 

I thought they were supposed to arrive this week around the 10th?? ...I guess  the elastic can stretch a bit further ..

[fancy]

6 hours ago, DinarThug said:

Carrello

• Carrello the KamelKeeper
• 
• Members

 

This One Posted Today By Ms Carrello Is Even Better !  

 

     

 

 

Mr. Al-Kazemi: Restoring consideration to Mr. Sinan al-Shabibi
 

Wednesday 10 June 2020
 

I do not know Mr. Sinan al-Shabibi and I have never met him, but I have heard like the rest of the citizens that he is excluded from the central bank because he refused to obey the orders of corrupt heads and implement what they ask of him and accused him of false accusations, and this corrupt elements have vandalized him by the vile methods to topple the national and clean elements and the man is known on a global level 

Mrs. Magda Al-Tamimi made a statement in an interview during Al Sharqiya TV channel in the past days that the currency auction takes advantage of one-fourth of the corrupt in the Central Bank, so what is required is to take Mrs. Al-Tamimi's claim seriously, open an extensive investigation in this regard, restore consideration to Mr. Sinan Al-Shabibi and return him to his position as governor of the Central Bank and benefit From his experience and sincerity
 

 

(this is a brief summary from the free encyclopedia)
 

Sinan Muhammad Raza al-Shabibi “Sinan al-Shabibi” was born (July 1, 1941, Baghdad) economist and governor of the Central Bank of Iraq from September 2003 to October 2012. It is the first governor of the Central Bank after the occupation of Iraq by the coalition forces.
 

Growing up and educating al-Shabibi was born in Baghdad on July 1, 1941, and his father, Muhammad Reza al-Shabibi, is a prominent Iraqi poet, thinker, and politician. Al-Shabibi attended the College of Economics and Political Science at the University of Baghdad and graduated in 1966 with a Bachelor's degree in Economics, and also obtained a diploma in Graduate Studies in Development and Economics, Masters degree in Economics from the University of Manchester in Manchester, United Kingdom (1970-1971) . He also obtained a PhD in Economics from the University of Bristol in Bristol, UK in 1975.
 

Beginning of his career
from May 1975 until March 1977, Sinan al-Shabibi was head of the Import and Marketing Department at the Iraqi Oil Ministry, and from April 1977 until December 1980, al-Shabibi was head of the Planning and Coordination Department of the Iraqi Ministry of Planning.
 

After the Iraq-Iran war erupted, al-Shabibi moved to Geneva, Switzerland, where he stayed from December 1980 to October 2001 and worked as an economist at the United Nations Conference on Trade and Development.
Governor of the Central Bank of Iraq
 

Since assuming the position of Governor of the Central Bank of Iraq, he introduced modern accounting systems and payment systems for the financial institution, replaced manual printers and computers with modern computer systems, and accounting tools as currency auctions, and replaced the pre-2003 currency with the new currency between October 2003 and January 2004. He also involved the Central Bank of Iraq in the International Monetary Fund and the World Bank, in addition to the Paris Club negotiations, where 19 countries agreed to exempt Iraq from 80% of pre-2003 debt to help Iraq recover from the US-led post-war phase 2003.
 

Despite local and regional instability in the region, Al-Shabibi managed to maintain the Iraqi dinar exchange rate against the US dollar at 1190 dinars per 1 US dollar (while the exchange rate was 2214 dinars per 1 dollar in 2002), and reduced the inflation rate (from 64% in 2006, to 5.2% in 2012), and doubled the gold reserves to 32 tons, and remained a strong advocate for the independence of the Central Bank. His use of these policies and high oil revenues helped raise foreign exchange reserves to nearly $ 67 billion (in September 2)) over December 2002 $ 2.7 billion 2012)
 

We hope that the right man will be in the right place.

 

https://kitabat.com/2020/06/10/%D8%A7%D9%84%D8%B3%D9%8A%D8%AF-%D8%A7%D9%84%D9%83%D8%A7%D8%B8%D9%85%D9%8A-%D8%B1%D8%AF-%D8%A7%D9%84%D8%A7%D8%B9%D8%AA%D8%A8%D8%A7%D8%B1-%D9%84%D9%84%D8%B3%D9%8A%D8%AF-%D8%B3%D9%86%D8%A7%D9%86-%D8%A7/

--

Late,  but BUMP

[Dinardarp]

7 hours ago, DinarThug said:

Al-Shabibi

 

[DinarThug]

6 hours ago, Inbedded HorseHead said:

I know how to kick start the RV,  I’ll sell mine tomorrow,  guaranteed to RV on Friday....

Way To Take One For The Team !  
 

 

And Don’t Worry - Davis Will Be Sending U Updates From Belize On His Instagram Account !  

 

     

[ronscarpa]

15 hours ago, DinarThug said:

Mr. Al-Kazemi: Restoring consideration to Mr. Sinan al-Shabibi  ....   

Wednesday 10 June 2020

 

Thanks Carrello & Thug for posting this article & the additional info on Shabibi ...  Ron

[Artitech]

16 hours ago, Shotgun Rider said:

No offence Artitech, if you don't believe it will RV, why are you here. Just asking. Believe me,  I get discouraged my self, but, I keep coming back.Hope you do the same. Been on this ride 14, almost 15 years.

I’m in to deep to quit now ,  11 years and counting! Like I have said, I admit it too. Greed! If  I had it to do over , would I do it HELL NO! I got into because it was supposed to RV at any minute! I’m not really upset at anybody but myself! Like everyone else that has been on this ride for this many years, we all know the ups and downs you have. For me no research what so ever! My only experience with currency is going to Mexico and switch dollars for pesos. I knew I may loose some money but not all. With what is going on with our country, I need to be helping other people more than ever. I would really love to be helping some of these small business owners that have been burn out or some of the other business effected by the virus! I know there are like minded people here on this forum! I know if this investment would come through we could make a big difference in some hurting people in our country! I’m going to be ok with a RV or no RV ! I truly believe this will happen, as the Good Lord Jesus knows I can’t be the steward he wants me to be in my present financial situation! We need this investment to hit now before it is to late to help our country! No offense from me Brother! JMHO! 🤠

[fixxxer]

Thanks Adam!

[Pitcher]

Does this Daily Chart look healthy to you?  Does this chart look like a V?  Not to me on both counts.  That chart looks ill and at best it looks like a messed up Nike Swoosh. 😂 

 

 

Yesterday I wrote the following,

 

6-10-20

Today Fed Chair Powell basically told the Stock Market he would back stop it by not raising interest rates for at least 2 years. So, I don’t think we will be going back to the March lows.  He did say he thought the market was ahead of where it should be so I’m looking for a little pull back over the next few days and maybe a few weeks.  It’s a great time to book some profits and get ready to buy after the sell off. (or if you are long and have some cash get ready to buy the dip).  I sold my 3 Swings today and will wait for another entry.  If the Market decides to shrug of Powell’s recommendation I will continue my Day Trading.  I have to admit the last few months have been exhausting as a trader.  I’m ready to get away for a few weeks. 

 

 

6-11-20

Today the Market sold off and it sold off hard. I guess the Market took the hint from Powell and everyone took their profits and ran.  Below are the official numbers.

 

DJ-30   -1856,  -6-88%

S&P.  -187  -5.88%

Nasdaq. -528.  -5.28

 

What happened and why did we go down so much so fast?  The way I saw it was the short squeeze was exhausted and the fuel for the last weeks up movement was over.  The people who where margined to the hilt playing the momo game basically had the tables turned on them.  I saw this getting ready to happen the last few days and sold my Swings.  The Fed Chair comments didn’t help either.  Inexperienced, and amateur traders looked at the charts and obviously thought it was a pause before a resumption of a higher movement.  Well, today a lot of those amateur traders playing the beaten down Sectors like Hospitality, Travel, Oil, and Banking had to cover or buy protection.  I thought we would hold the EMA 20 but after 11am ET I could see a lot of panic selling.  It was a bloodbath today for many traders.  Almost 7% down on the Dow is one terrible day.  Markets are constantly going from overbought to oversold and today was a prime example of overbought turning into a rout. 

 

So what’s next?  Are we going back to the March Lows?  

 

First off I want to say I thought the up movement over the last month was crazy but I traded what I saw.  Nothing Long Term, mostly Day Trades and a handful of Swings. With the CV gaining in some states, a very badly beaten up economy, and riots in our streets it didn’t make a lick of common sense that we would be bursting up.  Our Economy and our Country have a lot of problems.  In Bear Markets you play these little up moves but you have to be ready to dump and run for cover.  Personally I do not see a V recovery.  I think that is very unrealistic considering all the news which totally affects our Economy.  So where is the Market headed?  I do not know but I will give you my opinion as I did yesterday and I will show you what I am seeing on the chart below.  

 

Below is the same chart as above but blown up.  S&P 500 on a Daily Chart

 

 

 

I do not think the selling is over.  We may get a brief pop up rally to confuse traders but I think we are headed to a test of the 3 major moving averages circled on that chart above. The 200, 100, and 50 Ema’s have all converged at the 61.8 Fib line from the March sell off.  I would like to see these Moving Averages hold but I’m thinking we head lower. We might get a bounce tomorrow but watch that 61.8 Fib line at 2935 and hope it holds. That’s your first test.  If that gets breached we will probably test the 50 Fib line at 2793 in the next week or so.  I don’t want to discuss anything lower at this time. We have 2 solid lines of defense the Fib 61.8 line or about 2% more down side from today’s close and the 50 Fib line which is another 7% more to the down side.  

 

I don’t plan on Swing Shorting this sell off.  I will Trade what I see on my scans for some Day Trades and I will be looking to Swing long on a bounce up off the 3 EMA’s or 61.8 Fib line.  I will be looking at large cap Tech stocks if we get that bounce. Stocks like, FB, AAPL, Nvda, Msft, a few others like Shop Hd, Zm, Crwd, Docu, Tdoc, and Nkla.  

 

I have 2 more things for you to watch, the VIX which jumped 40% today (a Volatility gauge) and the 10 year treasury yield which was around 1.00% and is now back in the .60 range. Both of these are troubling to me and a possible harbinger of more pain for the market.  Let’s watch the 2 support lines I outlined above and if we break those I’ll be back to give you my opinion on what I think may happen next.  

 

Try not to worry if you are a Long term holder.  Markets are going to fluctuate, especially in this crazy NEWS environment and the fact that we are in a real Bear Market.  The good news is the Fed has the Markets Back and the Economy is opening back up.  

 

I always end on a simple statement.  I am no guru and I am not a substitute for your main Financial Person.  If you get too concerned give them a call. I have over 20 years of trading experience and I Trade almost every day.  I don’t mind giving you my simplistic opinions but always do your own Due Diligence.  

 

 

[yendor]

9 hours ago, Artitech said:

I’m in to deep to quit now ,  11 years and counting! Like I have said, I admit it too. Greed! If  I had it to do over , would I do it HELL NO! I got into because it was supposed to RV at any minute! I’m not really upset at anybody but myself! Like everyone else that has been on this ride for this many years, we all know the ups and downs you have. For me no research what so ever! My only experience with currency is going to Mexico and switch dollars for pesos. I knew I may loose some money but not all. With what is going on with our country, I need to be helping other people more than ever. I would really love to be helping some of these small business owners that have been burn out or some of the other business effected by the virus! I know there are like minded people here on this forum! I know if this investment would come through we could make a big difference in some hurting people in our country! I’m going to be ok with a RV or no RV ! I truly believe this will happen, as the Good Lord Jesus knows I can’t be the steward he wants me to be in my present financial situation! We need this investment to hit now before it is to late to help our country! No offense from me Brother! JMHO! 🤠

 

 

I hope that your investment was bought with money you could afford to lose. I know that the amount of my money I spent all those years ago would have been spent on something else and wouldn't be in my pocket today anyway.....  And guess what that investment turned into. Yep! A big barrel of HOPIUM ! And they say a good chance to fulfil that dream of helping people. We all know that it should have happened already, but we are talking about Iraq ! Keep the faith !

[BKD]

Thanks Adam

[davrol678]

Thanks again Adam.

[Pitcher]

Looks like the little Pop up rally was a premarket pop.  Talk about a rigged game for the home players.  So now we are back above the EMA 20  on the S&P and have what is called an inside day.  Let’s see if we can hold that line.   I’m just watching so far.  

[Artitech]

13 hours ago, yendor said:

 

 

I hope that your investment was bought with money you could afford to lose. I know that the amount of my money I spent all those years ago would have been spent on something else and wouldn't be in my pocket today anyway.....  And guess what that investment turned into. Yep! A big barrel of HOPIUM ! And they say a good chance to fulfil that dream of helping people. We all know that it should have happened already, but we are talking about Iraq ! Keep the faith !

I can assure you this is money, I would have bet at the racetrack! When I first got in I was racing horses! I found really quick, this sport is for guys with very deep pockets! Which I barely have a pot to pi$$ in! I can say if this thing does hit while I’m still alive, I just might go try and find me a horse that could run a lick! I sometimes feel like I need to protect people’s feelings! I think I can safely say most us in this investment know we will not see a RV this year! I do Have HOPE it will though! I’m riding this horse till it dies! I don’t want to be a Debbie downer either! I do hope it happens this year or even this weekend! I’m not going to be raining on anyone’s parade either from this day forward. See y’all at the bank Monday! JMHO 🤠

[A.M.]

Thanks A.M.