Revisiting targets for gold, oil and bonds
With very small moves across the board Rick updates his targets for gold, oil and bonds. We also discuss what a crash will look like in Rick’s eyes.
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Rick, you caved too soon…..but then traders are smart in limiting losses.
When physical runs out on the COMEX, and we are getting close, if there are any traders and regular folks left, the price of PMs will take off.
Good traders usually take profits.
Interesting how honest both Trump and Clinton really are!
After all they both use the same TAX AVOIDANCE LOOPHOLES, by registering their companies at 1209 N. Orange St., Wilmington, Delaware, to apparently avoid paying state taxes.
As Rupert Neate explained for the Guardian, being registered in the tiny state allows “companies to legally shift earnings from other states to Delaware, where they are not taxed on non-physical incomes generated outside of state.”
In fact, some have claimed —even ignoring all revelations of Panamanian documents— the use of tax-friendly locations inside the U.S. makes it the biggest tax haven in the world, with Delaware, alone, costing other states some $9 billion in lost taxes over the past decade. Clinton has repeatedly touted the needs for tax transparency and to shut down foreign havens with similar loopholes.
RICK!!!!ROCKS!
Rick I doubt it if crude will make it to 46.I think that it is already on its way down.My 2 cents.
I took a fairly large profit on my BP shares yesterday and today they have shot up another 9,600 today because of better than expected losses released. As I was joking the other day, stocks will go up on better than expected losses.
I bought back into Vrx today and have a more than $1 per share gain already.
http://investorplace.com/2016/04/daily-market-outlook-market-calm-storm/?sid=MP9243&cp=OZDT&ct=20160426&cc=eletter&en=3708747&cpp=OZDT&enn=3708747#.Vx-AEDFvoik
Monday felt like the calm before the storm, with the major indices closing only slightly in the red as investors played the waiting game ahead of this week’s earnings tsunami.
After some jerky price action, Netflix, Inc. (NFLX) finished 2.4% lower on follow-through selling after last week’s spanking. This caused much frustration among the dozens of fund managers I spoke with late last week who were betting on a V-shaped reversal after the initial post-earnings weakness.
The more we see large tech stocks lose the ability to rally, the more difficult it will become for the multimonth melt up to continue, if only for sentiment reasons.
Spring Clean Your Retirement!
Energy was the day’s worst-performing sector, falling 1.1%. Today’s first chart is a ratio chart of the Energy Select Sector SPDR (ETF) (XLE) and SPDR S&P 500 ETF Trust (SPY). While XLE showed great relative strength off the January lows, the chart is now bumping into a layer of technical resistance just as the U.S. dollar is beginning to show signs of firming up, i.e., bouncing.
Direct scales change things a little.
http://stockcharts.com/h-sc/ui?s=SLW%3A%24spx
I HATE my IPad, but it is all I have when travelling. I did not type “direct “, but a different word like select or something similar.
Someone talked about buying BP.
May I ask why you chose that energy stock rather than one with a lower P/E ratio?
E.g. Marathon, MPC.
If the market has a major equities correction, do the precious metals mining stocks fall too, or are they seen as a safe haven? I assume physical gold & treasury bonds would be a safe haven. Please advise.
Unless the equities markets crash, a major correction will be very good for the miners.
A sideways move bullish or bearish? I’d say frustrating.