🚗 Big Rift in Oil and the Chinese Yuan

[] [The daily rundown of everything happening at Option Pit.]( [.]( MARK-et Open Griff here with the Chart of the Day. Today we take a look at the reversal in oil, which has everything to do with the plummeting Chinese Yuan. Check out the Yuan/USD overlaid with crude oil futures. Recent history shows that when the Yuan is weakening oil follows: [ If this keeps up, we may have to add a currency war to our list of US/China conflicts. Remember weaker currencies are a tool for stronger growth, since your exports become cheaper to foreign buyers. We need Xi to start printing money like the Fed and get the economy going … [And be sure to join me tomorrow night at 7 p.m. ET when I’ll talk about the biggest shift in currency supremacy in almost a century.]( Let's Go! [ Trader's Edge: Bonds Lead the Pack and Our Bond Guy Meets Tomorrow - Midweek Update Here’s your Midweek Update, complete with the news, what’s moving the markets, trading tips, and everything I am watching right now… In today’s clip, I cover: The recent 1% sell-off in the S&P 500 and where I think it’s headed next… Bonds leading the pack and affecting overall markets… A notable trade with moving parts in IWM, SPY, and QQQ and my recent trade in CLF… Why VIX is still poised for a big move… and One of my current favorite trading strategies: strangles… It’s important to stay apprised of any info that could affect your trades so here are two things you can do today: [#1 Make sure you are signed up for Bill Griffo’s event 100 Years in the Making, tomorrow, August 17 at 7 p.m. ET.]( Bill has watched the market prime for a big event in a few weeks that could shake up the dollar’s place in the world’s marketplace. Sign up to get his report all about it. [Save My Seat]( Then [#2 Watch today’s Midweek Update right here…]( - Mark [21).gif]( Power Income: Hit a Home Run with This Bond Rift! Global bond market’s interest rates have been marching towards their 52-week highs. Germany and the US are in lock step just a few basis points (.01%) from the highs. Sentiment is the reason. The markets have priced in a very mild or no recession while pricing a bottom in inflation. Stocks, on the other hand, are pricing in a second leg of the melt-up, and over the past week buying has gone back into big tech. We can assume neither pricing is correct, and the question is … is it safe to buy bonds? [Today, we’ll take a look at a paired trade that I think is a home run.](. - Griff Profits In Pumps: This is a Really Big Deal Boy, are you in for a treat this week! [Our Macro Man, Bill Griffo, will be hosting a live event tomorrow night at 7 p.m. ET.]( It’s all about the US dollar and what may happen during a special meeting on August 22nd. It could be the beginning of the end of the US dollar’s world dominance. This is a really big deal. We are talking about a shift in the world order. [ We need to learn all that Griff can teach us about how this will be affecting the markets and which sectors will benefit from this historic event. And of course, he’ll have the new trade ideas on how to profit off this major monetary shift. He is also blessing us with a special report on the dollar’s demise just for signing up. [Click here to save your seat for free.]( I know I won’t be missing this informative live event. And neither should you! [Continue here for my new trade idea.]( - Licia AG's Views: Will Hawaii Energy Rise from the Ashes? From the desk of Option Pit Director of Education Andrew Giovinazzi Hawaii Energy Inc (Ticker: HE) is getting clobbered since the terrible fires in Maui might be the result of some power line or transformer failure. So much like Pacific Gas and Electric (Ticker: PCG) in California with the wildfires, HE might be in for some heat. [ It took a few years for PCG to come back. I sold some HE Mar2024 22.5 puts since the implied vol was sky high. It is a bit spec but if history is a guide it should work out. - AG OPTION PIT GLOSSARY [( There are plenty of terms in the trading world that need defining. The [Option Pit Glossary]( is here to help. Today's phrase is: Strike price: The price at which a call or put holder has the right -- but not the obligation -- to buy or sell the underlying shares, respectively, before the contract expires. [( DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. 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