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How long can the markets muddle along?

May 11, 2016

We kick off today with Chris Temple talking about the new normal of markets and different asset classes muddling along. Whether its good news/data or bad news/data the markets continue to move sideways and liquidity continues to rotate within. Baring a black swan (which is impossible to accurately predict) we could be here for a while.

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Discussion
70 Comments
    May 11, 2016 11:33 AM

    Macy…down today…….pump and dump………CNBC…what do you expect.

      May 11, 2016 11:35 AM

      Retailers are in trouble……….check the street ….Will not change until CHRISTMAS., when retailers miss Christmas sales…..watch out….

        May 11, 2016 11:35 AM

        You must not know much about retailer……….

        May 11, 2016 11:48 AM

        The retail sector does not really interest me at this point either Jerry.

          May 11, 2016 11:53 AM

          Al…I’m still 100% convinced that lack of Phyzz Silver is going to drive premiums way way up. Expecting Premium to be substantially higher by 4th of July, and even though still pretty low today….fully expect Premium to be equal to, or even exceed the spot price of Ag Mint coins by Labor day…. For those that have been stacking, its not spot that they should be paying attention to so much….it’s the premium rising…that’s going to take their breath away…

          if ya get an new ASE pretty soon I’m thinking you’re going to basically pay twice spot price…..And even —IF— spot is held to say $20, all those ASE’s ya picked up back in 2014 are in dollar terms worth $40 all of a sudden despite what some chart says…and what if spot goes to $33…..um….you tracking with me?? Heard this a couple weeks back and it’s my new fav quote, “Two words that will very soon describe physical silver: Too Late.”

            May 11, 2016 11:52 AM

            4oz,
            That’s a Very interesting point to consider. Thanks

            May 11, 2016 11:13 AM

            ASE……….are going for $4-5 0ver spot in our local area….now.

            May 11, 2016 11:31 AM

            junk on ebay grossing around $21.00/oz.

            May 11, 2016 11:29 PM

            I can still buy 1 oz sil rounds about a buck over spot & if you buy 100 oz bars they are available @ 50 cents over spot at provident metals. jm bullion is one I have bought from for years. cheers dwj

            May 11, 2016 11:06 PM

            do not forget to add in the freight………at jmbullion………..

            May 12, 2016 12:08 AM

            dw jones – thanks for the heads up on jm bullion.

          May 11, 2016 11:10 AM

          Who knows you could well be right 4 oz.

            May 11, 2016 11:12 AM

            Check out dollar vigilante.
            http://sgtreport.com/page/7/

            May 11, 2016 11:13 AM

            ANDY……..How is the phyz silver market in your area….?

            May 11, 2016 11:12 PM

            OOTB Bullion by Post which is an ultra efficient and reliable supplier still have a ready number of 2016 1 oz Britannias, although earlier Britannias in any quantity are much harder to come by.
            These silver coins also carry VAT unlike gold, so that a single Britannia costs at present £26.34, although if you buy in greater numbers the premium goes down significantly. e.g. right now 50 Britannias cost £20.34 each.
            Best, A

            May 11, 2016 11:07 PM

            Thanks ANDY…….appreciate the info……………..J. THE LONG

      May 11, 2016 11:47 AM

      That is an interesting thought, Jerry.

      May 11, 2016 11:03 AM

      Analyst from JP MORGAN on CNBS says that GOLD is in long term bull market NOW…….she expects 1400 by year end …”definitely in the cards”…….of course her boss is going to call her into his/her office and FIRE HER!!….hahahalol!!

    PF
    May 11, 2016 11:34 AM

    You guys are much too cynical about CNBC. I don’t watch it all day but the Fast Money contributors and Jim Cramer all seem like straight-shooters.

      May 11, 2016 11:41 AM

      I thin old CRAMMMMer is right about %43 of the time. Check his “Gurus” stats.

        May 11, 2016 11:42 AM

        I meant THINK…..yes he is a bit “thin”

        May 11, 2016 11:48 AM

        Does anyone think they can make money off CNBC? Not me! By they time it comes out of their mouths it’s old news.

          May 11, 2016 11:51 AM

          That is very true, Chris. I simply get my quotes from there when we are recording.

        May 11, 2016 11:50 AM

        He is a good entertainer.

        May 11, 2016 11:03 AM

        CRAMER….GURU STATUS…………….46.8%

          May 11, 2016 11:05 AM

          about a 1.8% above GS………or not even…….50/50%…or more WRONG THAN RIGHT………………… 🙂

      May 11, 2016 11:50 AM

      I personally am not cynical about CNBC.

    May 11, 2016 11:36 AM

    Great start to a good show for today. Chris has a very clear view of the market.

    May 11, 2016 11:37 AM

    Jim Cramer let’s his friends front run his trades. He is Goldman Sacks scum!

      May 11, 2016 11:51 AM

      That would not surprise me Chris.

    May 11, 2016 11:39 AM

    Supporting Chris’ view on retail sales & profits is John Hussman’s comments on the same subject: “Emphatically – and this point is worth reflection – I am not concerned about major stock market losses because we expect profit margins to decline, or because present conditions remain consistent with an oncoming U.S. recession. Rather, my concern about profit margins is, and always has been, that they can create the mirage of reasonable valuations during periods when business conditions are strong. The argument is not “profit margins are going to decline, and that will bring prices down.” The simple fact is that profit margins don’t have a particularly high correlation with stock price fluctuations to begin with. Rather, the argument is that rich profit margins have distorted popular earnings-based valuation measures (as they always have, but to a much greater degree in recent years), so that investors vastly underestimate how obscene valuations have actually become. This argument continues to hold, and in my view, investors still have a small window to act on that recognition.”
    I personally feel many trade regardless of earning, concerned more with short term profits from the skitzo spurts of the markets which don’t seem to have established a definable trend. JMO

      May 11, 2016 11:54 AM

      I think that Hussman is correct.

    May 11, 2016 11:45 AM

    Chris, I see that Community Health Systems is up 2% today after you mentioned it yesterday.

    I am not au fait with the business of how US hospitals are run and make money but thanks for letting me know about it. I had a good read last night about the whole issue of the hospital business in the US and found it fascinating.

      May 11, 2016 11:55 AM

      I actually have a couple of close friends in that industry at pretty high levels. It is a fascinating business.

        May 11, 2016 11:59 AM

        It is a heck of a business model if they need a ‘good’ flu season to make the difference between a profit and big losses.

        I found myself considering buying some CYH stock today – but then I slapped myself. You never know, it could be a doubler in 12 months though given a good flu season next winter.

    May 11, 2016 11:46 AM

    Bull Flag in AU?

      May 11, 2016 11:56 AM

      Where would that Bull Flag be, Chris?

    May 11, 2016 11:38 AM
      May 11, 2016 11:30 AM

      Why are they trying to foil my plans!

        May 11, 2016 11:00 PM

        All about greed. Goldman will sell bad investments to their clients to earn commissions and other fees and then go short on these same investments.

    May 11, 2016 11:52 AM

    It’s possible that the first so-called ‘black swan’ will be a decision to Brexit.

    It could be the version of events you are getting on your side of the Pond is a bit different to the way it feels on the street over here but it wouldn’t surprise me at all if it happens despite the whole government machine being rolled out to stop it.

    After that, the second ‘black swan’ event could be that the world doesn’t stop spinning and the sky doesn’t fall on top of us.

    May 11, 2016 11:20 AM

    I am deeply relieved that certain lapses of grammar could resolved amicably between men.

    http://youtu.be/O8gsTIoHDBI

    May 11, 2016 11:33 PM

    Sorry folks can’t paste the full article – According to Archer Daniel Midlands Corp Investment unit the LBMA is out of gold, with its collapse occurring no later than June 15.

    May 11, 2016 11:50 PM

    Thanks FranSix I’m still stupidly naïve when it comes to the internet!!

    May 11, 2016 11:50 PM

    Comex dead from hereon out.
    http://mcalvanyweeklycommentary.com/

    May 11, 2016 11:00 PM

    Gold & silver moving up nicely this afternoon, kind of a good sign.

    May 11, 2016 11:30 PM

    I had forgotten about this Company,stumbled on an old article today.
    They have a JV with IAMGOLD.

    EM: TomaGold Corp. (LOT:TSX.V), for sure. TomaGold is a name I’ve been following for the last couple of years now and, together with IAMGOLD Corp. (IMG:TSX; IAG:NYSE), it continues to develop the Monster Lake project in Quebec. The high-grade results TomaGold has been able to issue have gotten many investors excited over the potential and economic viability of the deposit. If we were in a bull market for gold, there is no doubt in my mind the results that TomaGold has been able to release to the market would send the stock skyrocketing.

    Because we are not in a bull market, it will take time but, unlike most junior explorers in the market today, TomaGold has IAMGOLD on its side; IAMGOLD continues to fund the project, so at least TomaGold is not pressed for time and funds. Make sure TomaGold is on your radar screen. TomaGold just issued some spectacular results and if it is able to continue its success with the drill bit, there is no doubt in my mind it will pique the interest of someone with a lot deeper pockets to take over the property. 3/4/15

    https://www.youtube.com/watch?v=GpolSJwMDMY

    May 11, 2016 11:45 PM

    GLD holdings Update (10May2016)

    Contrary to accepted “COT-ology”, the GLD holdings have INCREASED +4.5% the last 10 trading days:

    27-Apr-2016, 802.65
    10-May-2016, 839.25

    May 11, 2016 11:45 PM

    This wont take up much of your time, goes with what was disused above, re the London bullion marked.
    https://www.bullionstar.com/blogs/bullionstar/infographic-london-gold-market/

    May 11, 2016 11:05 PM

    Here you go Jerry….Have a laugh on me.
    http://www.liveleak.com/view?i=630_1462921120