Macro Millionaires made an instant killing on the collapse of the Euro today, scoring a one day gain of 58% from the Friday close. Those who bought the double leveraged short Euro ETF, the (EUO), scored an immediate 6.5% profit. Thanks to these red hot trades, Macro Millionaires are now up nearly 44% in their virtual hedge funds year to date. The Month of October came in at a healthy 4%, following a blistering 17.19% in September.
Traders are betting that the new European Central Bank President, Mario Draghi, will make the institution’s first intelligent move of the year on Wednesday by slashing interest rates. If Draghi has the cajones to make such a bold move, it will lead to an immediate tidal wave of selling of the European currency.
We also got an assist from my old friends at the Bank of Japan, which finally, decisively intervened with a massive sale of $130 billion in the foreign exchange market, knocking their own ridiculously overvalued currency down an impressive ¥4 to ¥79 and change. Suddenly, central bank action to weaken your own currency has become respectable.
I will swear on a stack of Bibles that I had the trade alert written to short the yen on Friday, but didn’t have the time to send it out. Regular listeners to my biweekly webinars are well aware of my antipathy towards the yen, it was only a matter of time before it took its dive. You can’t catch them all.
This marks the 20th consecutive profitable trade for Macro Millionaires. For those who wish to participate in Macro Millionaire, my highly innovative and successful trade mentoring program, please email John Thomas directly at [email protected] . Please put “Macro Millionaire” in the subject line, as we are getting buried in emails. Hurry up, because our software limits the number of subscribers, and we are running out of places.