A recap of the GDP report and Fed meeting
Michael Belkin joins Al and Cory to discuss the GDP report and Fed meeting today. The GDP report had more impact on the markets. We take a closer look at what the GP number means and why the US dollar took a hit.
Click download link to listen on this device: Download Show
THE WORLD NEED HELPE ! https://www.youtube.com/watch?v=tEqrcTxZfb0
666 PIG PIG PIG ! https://www.youtube.com/watch?v=kBvCPTK1MmY
I think the Euro and the UK Pound will weaken further against the USD this summer.
Sterling will have a crisis once the UK election results are in on the 8th and the Euro will fall when the Greek crisis eventually comes to a conclusion.
People will seek safety in the USD – as they always do.
COOL COOL COOL IS THE WAY BUY BUY BUY GOLD !
Effectively one of the most crowded trade …
https://www.dropbox.com/s/m230j9fv90aqsjj/DISNEY%20TRAIN.jpg?dl=0
I agree with you, Al. Gold wasn’t up big today when it should have been ($3 up at most from yesterday’s close for a few seconds after atrocious GDP?). Dollar down, GDP down, and Fed no rate hike… and gold falls $10. Doesn’t sound like a safe haven to me!
Unless you owned quality miners. Two companies discussed extensively in these forums, Claude and Scorpio, did very well today despite the “drop” in gold. Very interesting times.
Yes I saw the nice increase in both Scorpio and Claude after the Fed meeting while the commodity was dropping. This shows that quality companies doing the right things will rise regardless of the rest of the marketplace or their sector average. However, if the sector they are in in this case, miners, starts turning around, then they’ll grow at an exponential rate. It will be fascinating to watch.
AL + Cory – great interview with Michael. He always has a great perspective and it was interesting to hear his thoughts on the dollar, the mining space, and the general markets.
Over the last several years, precious metals have failed to rally when they should have. I think there is something to that.
Wiseguy, I did think the action in Gold was a bit unusual. Yes we noted on the other blog that that it was a curious reaction from Gold on a day one would think has the setup for a reason for a Gold bid.
Thanks guys for getting Michael Belkin on the show. Everyone is so bullish the dollar it suspicious. It is nice to have some intelligent reasons contra the heard. His call might not play out but that can also be said about the dollar bulls expectation of a 120 dollar. We will see soon enough!
Interesting comments from Michael, as always.
Al, Cory, thanks for bringing him in during on a week day.
LPG
Bill Gross Bberg video interview today post FOMC – 14mn long
http://www.bloomberg.com/news/videos/2015-04-29/gross-finds-visible-lack-of-liquidity-in-bond-market
Best to all,
LPG
Western gold flies to East passing through Swiss
http://www.jsmineset.com/wp-content/uploads/2015/04/clip_image0032.jpg
That was an interesting and entertaining Bill Gross interview. Thanks for posting it LPG.
I must have stared at this chart (#8 from ShortSideOfLong) for ten minutes. It tells quite the story.
If markets were to get a 1970’s style regression to the mean, SPX could easily drop 60% over 10 years. (recent 2125 less 60%=850)
Fed meddling in 2008 aborted the regression at 666 when it should have dropped to about 400, and we would possibly be starting a recovery about now, instead of doing the RoadRunner style trajectory off the cliff.
On the other hand are four fingers, a thumb, and the possibility of SPX 3,000 without a hitch.
-step inside
-place your bets
-be a man
-don’t run and hide.
NEWS………….TEXAS GOVN. calls up TEXAS GUARD to monitor JADE HELM during summer exercises.(conspiracy theory not)…….zerohedge
NEWS…………..GOLDMAN SAKERS, to invest in BITCOIN………pbs news early report
Just when the bugs are exhausted … On the TSX….we have AEM, ASR, NG, DGC, AUQ, GUY, FNV, FVI, KGI, LSG the list goes on….these stocks have built great bases and are not far off from solid breakouts. It might not be a good time to throw in the towel just yet! Institutional buying has been happening for several months now. If it doesn’t head upward now, there will be very large upward correction within a year. Franco will be close to 85$ when this is all over.
COnfused
Thanks for this comment; the basic message of most of my recent posts. Specifically, regardless of what the gold and silver metals are doing (like dropping from 1205 to 1178 in a couple hours – whatever), high quality, miners are doing well by ANY Standard. And thanks for the ticker list !
Brian
Wiseguy, I did think the action in Gold was a bit unusual. Yes we noted on the other blog that that it was a curious reaction from Gold on a day one would think has the setup for a reason for a Gold bid.
Sorry this post was supposed to be way up above in the thread so I must clicked replay to Confused while I was reading his post.
While on that subject – Great point Confused. Brian I was also agreeing with you up above concerning building positions in quality companies regardless of the markets or sector, but try to build on pullbacks and sell a percentage into overbought strenght, then repeat, and as you average in over time you build a nice position.
Good Luck to all.
NEWS ….SPENDING UP .04%, JOBLESS CLAIMS DOWN TO 262,000, which means springtime has arrived in the USA, and the lawn keepers are spreading the new purchased mulch, that mom says needs to be done. Spring is always busy, the numbers will go down and the spending will be soft in summer., everyone wants to get out of the funk……………jmho………the boot.
Here we go again………gold down $17 …….the battle for 1200 still on……..THE BOOT
THE golden slippers are sneaking out the back door…….to boot
LONDON FIX ……$1204….
Its criminal..the banksters are making fortunes
selling derivatives.
Who knows what they will do next. A world war.
People haven’t gotten the message yet. According
to The West gold will not be a part of the financial
system. They don’t have any meaningful amount of
gold. That means major world war. Jade Helm 15 is
aggressively not friendly.
DO THE MATH !!! They want civil unrest. Its all part
of the conditioning process. Its the take down of
America. Everyone has put a blind eye on it.
R.I.P. America is in its final days. Unfolding and no one cares.
WELL OF COARSE ITS GOING TO COLLAPSE. We allowed it.
Stupid gets…what stupid does.
The Texas govnor calls up Texas Guard to watch Jade Helm
I know. Not only that its far more worse.
People refuse to believe anything. Too
many false alarms in the past so now
when people hear anything they don’t
believe it.
All part of the conditioning. Dumbed down !!!
Unfortunately !!!!
Yes………it is unfortunate…………keep a heads up… 🙂
Yes heads up…for…The Guillotine Renovator.
Of coarse that’s the last visit. We know all the
motions. As long as you don’t like The Constitution
you will be fine. No worries not on the red list.
You will survive just take the RFID blue pill. No big
deal all they want is our souls. The End Game !!!!
No soul man being taken here…………… 🙂
You are on a very narrow path. Then you are
a true Orthodox Moscowvite. 🙂
narrow path, just before you get to the narrow gate.
A lot get the BOOT before the gate gets closed.
It is like kicking ones self in the arce……..
Those pearlie gates open for only Frank.
The rest get…THE BOOT !!!!!! 🙂
Well, they had it comin. They refused to listen.
Criminals are running the zoo.
Interest rates will rise dramatically. Everyone goes through the windshield.
I believe that the central bank will come to realize that negative rates will probably result in higher conventional indeces for a time, as it had occurred to the ECB.
FEET THE FED ! ( SLAVES ) ! Keep your heads down when you eat ! https://www.youtube.com/watch?v=s0k0U6VhJn8