The market is about to wake up to something bad.
That something is the fact that the $USD’s strength is going to crush corporate profits in 1Q17.
You see, companies begin to issue guidance for their results during the last week of the quarter. So the warnings are about to start hitting. Indeed, we’re already beginning to see this.
Safra Catz is CEO for Oracle, a $160 BILLION tech company. And she just issued a major warning of what’s coming this way.
This quarter, the effects of currency movement were more than what I had included in my guidance, mostly because of the strengthening U.S. dollar after recent elections in U.S. and Europe, resulting in currency headwind of 1% in total revenue, 2% in some revenue categories and one penny to EPS.
Here’s a Fortune 500 CEO warning that the $USD’s strength is already going to shave 1% off of revenues. Lest you think that 1% isn’t a big deal, consider that it comes to $371 MILLION.
As we head into quarter end, we’ll be hearing more of this. Indeed, Coca-cola, Restoration Hardware, and other companies are all already warning about the impact of the $USD post election.
After all, if the $USD’s bull market since 2014 has already crushed corporate earnings to 2012 levels… this current rally to new highs will be ANNIHILATING profits going forward.
And this is happening at a time when investors are RECORD bullish on stocks.
Everyone and I mean EVERYONE is “all in” on stocks. Hedge funds, commercial traders, even individual investors have piled into the market.
This will end badly as all manias do. We believe the market is primed for a 10% drop… possibly more.
THIS WILL HIT BEFORE THE END OF JANUARY.
Another Crisis is brewing… the time to prepare is now.
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Tonight at midnight we’re closing the doors on our offer to explore Private Wealth Advisory for 30 days for just $0.98.
But this is IT. No more extensions.
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Chief Market Strategist
Phoenix Capital Research