Is a recession around the corner?
We kick off today with Rick Ackmerman and his comments on the overall US and global economy. With slightly better numbers for April retail sales and consumer confidence we are seeing the US dollar and gold move up together but no significant moves in the US markets. Will this all lead to a recession? Rick definitely has some comments on that.
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Of course retail sales are up, Bobs book just came out.
Funny B,I just received my copy today.Bob recommend reading Charles MacKay’s “Extraordinary Popular Delusions and the Madness of Crowds”also.I wish he would have given us a heads up that it would take at least a week to read that one.The thing is longer than a college text book.
John K: But I think once you finish it you will agree with me that its the best book ever written if you want to understand human behavior. It took me a semester.
I would be curious to hear Rick’s opinion on the relative “safety” of the PM’s during a significant deflationary event. There seem to be opinions that go both ways on this.
Bank of America: We are witnessing a stock market ‘exodus’
Fri, May 13, 2016
“Investors pulled a whopping $44 billion out of the stock market in the past five weeks.
The cumulative outflow from equity funds over the past five weeks was $44 billion. BAML’s Michael Hartnett, who characterized this as an “equity exodus,” noted that this was the largest redemption over a 5-week period since August 2011.
So where is that money going?
In the past week, $3.5 billion went into bond funds and $1.0 billion went into precious metals funds, which offer exposure to gold. There was also $10.9 billion poured into money market funds, the largest inflow in 13 weeks.
In other words investors are playing the safe-haven assets.”
http://finance.yahoo.com/news/baml-equity-fund-flows-exodus-142921175.html
Great information, EX.
Also note that the GLD holdings have been increasing on a daily basis for the past 2+ weeks.
29-Apr-2016 804.14
02-May-2016 824.94
03-May-2016 824.94
04-May-2016 825.54
05-May-2016 829.44
06-May-2016 834.19
09-May-2016 836.87
10-May-2016 839.25
11-May-2016 841.92
12-May-2016 845.19
+ 5% increase in 10 days
The metals are finally on investors radar again, and they’ve been getting a nod from the larger investing universe for the first time in a long while as a good place to be at the present. Its a slow moving ship, but it is gradually turning….
And sail off into the sunset, look out for icebergs,Excelsior !
That’s a titanic statement Pete 😉
Sorry,wrong direction,there are no icebergs when sailing in warmer Waters..
And up another 6 tonnes to end the week:
13-May-2016 851.13
There’s always the Zbermuda Triangle!
I’m sailing there to find the missing CRIMEX gold. More than icebergs I’ll have to watch out for inter-dimensional time travel…..
The other day you said that the three black crows pattern had developed on the daily gold chart.According to author Gregory L Morris “Candlestick Charting Explained” the three crows pattern develops during an uptrend in price.The first candle in the pattern starts the reversal of the trend.Actually a bearish harami cross developed right before the three crows pattern signaling the change in the trend.Thus this could not have been the three crows pattern.
It is a kind of bang your head against the wall market. I dumped my cisco and intel positions on the spike up at a gain but keeping my big oil stock.
Anyone have a link to the weekly COT updates (Friday)?
Rick, I just visited your website and am interested in what you do. Am I to understand that you give direct advice as to what to buy and sell and when? If so, I have a small retirement IRA and am looking to slowly grow it by getting into and out of specific stocks and ETF’s. Thanks
Rick give great advice with no outlandish claims. I’ve made money listening to Rick.