“Swiss Franc Plunges Most Ever as Central Bank Draws Line in the Sand.”
Such was the headline this morning from Bloomberg News, after Switzerland’s Central Bank took the absolutely unprecedented step of imposing a ceiling on the exchange rate of the Swiss franc, saying it would defend its rate target with “utmost determination”.
The result?
The Swiss franc dropped over 9% in less than a day – something that is absolutely unheard of in the currency markets.
Live another 50 years and you will likely not see a move like this ever again.
Let’s be clear: the Swiss National Bank is not the Fed and it’s not the ECB. It does not intervene in the currency markets. It does not endlessly bail out its banks like we do. And it certainly does not move its currency 9% in a day. Nobody saw this coming.
Even venerable hedge fund manager Dennis Gartman appeared today on CNBC, where he made this comment about the Swiss central bank’s move: “They did it surreptitiously.”
What happened today was truly unprecedented. And it caught everyone off guard.
Well… not everyone.
Because while most of the trading world was asleep at the wheel, The Wizard was, once again, ahead of the game – issuing buy signals on the Swiss franc currency pairs and the Swiss franc futures contract well in advance.
How far in advance? How about 3 weeks ago? And the result? Some of our most impressive gains ever.
The profits speak for themselves, so we’ll let you see for yourself.
First, the CHF currency pairs. Five pairs. Over $34,000 in profits – in just 3 weeks.
(click to enlarge)
Next, the Swiss Franc futures contract: 12 days. $11,112.50 in profits – on just one contract.
(click to enlarge)
This isn’t the first time we’ve done this. And it certainly won’t be the last. It’s just one in a long line of great calls we’ve made.
So the question is: when the next “unexpected” and “unprecedented” event strikes, will you be watching the media after the fact?
Or will you be tuned into The Wizard before it even happens?
If you enjoyed this article, please consider sharing it!
