Nightly Briefing 8/6/20

3400 SPX is going to act like a magnet and mark a double top for this move. A multi-day consolidation event should follow. The NASDAQ hit new all-time highs and the S&P is next in line. It will happen later in August - 3,600 is on the table. The Fed has aborted several natural corrections over the past several months. The effects of this will be a sharp, dramatic plunge several thousand points from September into early October. The market will then recover into the election. Everything in our forecast is lining up. We have a large move in gold from November through January which will most likely be fueled by protest riots and possible indecision in the presidential election.

We have a pattern we are watching for gold: $2,075-$2,120 futures is the top for this move in our opinion. The first pullback will be followed by a bounce, which may double top with a retest of the high or fall slightly short of the previous high. After that bounce, expect a minimum $300 point drop. This will be required to create the slingshot effect for the parabolic bubble phase to start into next spring. Gold is up 15 days in a row and everyone is stressed they missed it, please don’t panic. Silver and the minors will follow gold. We will be shorting the C - wave drop in this decline. Our best guess is that sometime in September will usher in the largest percentage of the decline. This will coincide with the projected four-week correction in the stock market.

We have a 50-50 shot tomorrow for Bitcoin/GBTC to go through $15. If it breaks through this key level, expect $18 quickly.

Oil is our inch worm making small gains daily, doing its job into early September.

Denny’s and Bloomin' will most likely break through their respective resistance levels of $10 and $12 the same day. We need a recognition day in the restaurant stocks. It’s building - but we will need some type of catalyst. Our expectation is for an advance through resistance sometime in August with moves to min. $15 in BLMN and $13 in DENN.

Before we take a position, our system analyzes many facets of implicated risk. Our staff have been relentlessly researching the steel sector during this past week. We will publish a dominant steel cycle which will be the catalyst for us taking a position in a steel company during the next several days. By far, CLF resources has the largest upside. However, after careful consideration we see a 60% chance of a capital raise and dilution in CLD  between $10 and $12 per share, not good for the short term as witnessed recently in SPCE. They have $80 million in cash and several billion in debt. CLF has chewed off a lot with their acquisition of AKS steel this past year, using much of their cash and issuing more deb so they may be players in the iron ore mining industry. While they earn more money than US Steel (X), X enjoys a better balance sheet with billions in cash and a similar amount of debt. We feel the momentum players will be drawn to the American favorite: US Steel (X),  more so than CLF once pundits start talking about the steel breakout. Other names to consider are STLD and NUE.  We like the price point in US steel.

We expect Virgin Galactic to produce a sideways coil between $19 and $21 for at least a month before it’s ready to start climbing up. HFZ Financial Disclosures All opinions, information and illustrations expressed are solely for information and educational purposes and do not constitute investment or trading advice. We bear no responsibility for any actions taken or not taken by third parties after reading the blog. This email content has no regard to your own investment objectives, financial situation or particular needs. We may have an interest and may make purchases, sales or short sales in the securities referred to in the financial educational platform blog. Please ask for our consent before re-publishing blog content. Investing in the financial markets can involve considerable risk, including loss of principal. Past performance is not necessarily an indication of future performance.  Actual clients may achieve results materially different from the results portrayed.  All material is for informational and educational purposes only and is not investment advice and is not meant to suggest that any securities are suitable investments for any particular investor.  All information reflects our own actions, beliefs, and processes for purely informational purposes.  Hedge Fund Z LLC is a financial blog for the sole purpose of information.  HFZ does not represent themselves as acting in the position of an investment advisor or investment manager for funds that are not under their direct control and fiduciary responsibility.  Third party quotes and information may not be representative of the experience of HFZ customers and do not represent a guarantee of future performance or success. Many of the results displayed on our website were achieved using leverage, such as 2x or 3x leveraged ETF's or equity options.  The information included at HFZ and HFZ writing, research, and updates is prepared for educational purposes and is not a solicitation, or an offer to buy or sell any security or use any particular system.  Information is based on historical research using data believed to be reliable, but there is no guarantee as to its accuracy. HFZ does not represent themselves as acting in the position of an investment adviser, bank or investment manager for funds that are not under their direct control and fiduciary responsibility. HFZ will not provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter.  No information, nor any opinion expressed on the Site or in the Services, shall constitute a solicitation or an offer to buy or sell any securities mentioned therein.  The information presented on the Site and in the Services has been prepared without regard to any particular investor's investment objectives, financial situation, needs, capacity, and trading ability or experience. Accordingly, you should not act on any information on the Site or in the Services without obtaining specific advice from your financial advisors and should not rely on information herein as the basis for your trading and/or investment decisions.  HFZ cannot claim or represent that any of our Services are suitable for you.  By your use of the Site and Services, you're agreeing that you bear responsibility for your own investment research, trades, and investment decisions. Only you can decide whether or not a trade is right for you and you agree to be liable for any trades you initiate at your brokerage using research and/or tools that we provide. If you ignore our advice to do independent research and choose instead to trade solely on information, analysis, alerts or opinions found in our Service or website, you have made a conscious, willing, free, and personal decision to do so. You also agree that HFZ, its directors, its employees, subsidiaries, affiliates, and its agents will not be liable for any investment decision, trade made or action taken by you and others based on news, information, opinion, or any other material published through our Site and Services. Hedge Fund Z Terms and Conditions

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Important Disclosures: Investing in the financial markets can involve considerable risk, including loss of principal. Past performance is not necessarily an indication of future performance.  Actual clients may achieve results materially different from the results portrayed.  All material is for informational and educational purposes only and is not investment advice and is not meant to suggest that any securities are suitable investments for any particular investor.  All information reflects our own actions, beliefs, and processes for purely informational purposes. HEDGE FUND Z LLC IS A FINANCIAL BLOG FOR THE SOLE PURPOSE OF EDUCATION.  HFZ does not represent themselves as acting in the position of an investment advisor or investment manager for funds that are not under their direct control and fiduciary responsibility. 


Third party quotes and information may not be representative of the experience of HFZ customers and do not represent a guarantee of future performance or success. Many of the results displayed on our website were achieved using leverage, such as 2x or 3x leveraged ETF's or equity options 


The information included at HFZ and HFZ writing, research, and updates is prepared for educational purposes and is not a solicitation, or an offer to buy or sell any security or use any particular system.  Information is based on historical research using data believed to be reliable, but there is no guarantee as to its accuracy. HFZ does not represent themselves as acting in the position of an investment adviser or investment manager for funds that are not under their direct control and fiduciary responsibility. HFZ will not provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter.  


No information, nor any opinion expressed on the Site or in the Services, shall constitute a solicitation or an offer to buy or sell any securities mentioned therein.  The information presented on the Site and in the Services has been prepared without regard to any particular investor's investment objectives, financial situation, needs, capacity, and trading ability or experience. Accordingly, you should not act on any information on the Site or in the Services without obtaining specific advice from your financial advisors and should not rely on information herein as the basis for your trading and/or investment decisions.  HFZ cannot claim or represent that any of our Services are suitable for you. 


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