The bullish bear for the US markets
Rick Ackerman let’s the chats tell him where the markets are going. Even though he feels the US equity markets should be trading significantly lower his technicals are point to higher levels. He shares his outlook for US equities and gold.
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Here’s a question for Doc. (Since I know he had an interest in oil tankers)
With the opening of a much wider Panama Canal on this Sunday, I know it will allow larger LNG carriers to route from Texas over to Asia, but what effect do you think it will have on oil transportation?
(Obviously Panamax class now has little meaning)
This is interesting:
The New Panama Canal: A Risky Bet
How a $3.1 Billion Expansion Collided With Reality
By WALT BOGDANICH, JACQUELINE WILLIAMS and ANA GRACIELA MÉNDEZ JUNE 22, 2016
CFS; great thought—it should hurt tankers in the sense of less miles covered as far as oil movement from the west to places like China. It could help them on fuel costs if oil prices stay low for a considerable amount of time. Interesting variable.
I notice the BDI down close to oversold again.
Comments are light today.
Everyone is glued to the Brexit vote.
The betting is clearly stating a remain.
This is like watching the Super Bowl when the two teams are mismatched and it is a blowout in the first half and no one sticks around for the second half.
Or if exit wins everything collapses, then it gets interesting.
Armstrong- Buy the Rumor – Sell the News
Our numbers today are 1259.30 in gold nearest futures, 1.4830 in the cash pound, and 18018 in the DOW. Gold has crashed the testing the key support again, and the Dow rallied but also failed to breach the key resistance. As with all this, the markets have pushed to extremes. Our model shows it really does not matter for the pound would have to get above 15300 just to appear strong.
The likelihood of a REMAIN rigged vote means that Britain will now be joined at the hip with the Euro. They might as well surrender the pound as well. What lies ahead for Britain will be indistinguishable from the euro and all this will do is raise civil unrest. It will no longer be Britain first and they will surrender the Queen’s sovereignty as well so they might as well begin saving some money and disband the Royal Family while they are at it.
The Queen opens Parliament and says it is “My Government” but those words will soon prove to be hollow for Brussels will rule instead. They markets are simply reflecting a bad trend.
Look, an SPX at 2169 is about 2% higher than the ath of May ’15(never mind 2250). That’s a breakout from an 18 month consolidation-not a blowoff(nor 2250 either-unless its 2-3 days at most to get there). In such a case, that will confirm that there will be no classic debt deflation like the early 1930’s. Just not gonna happen-in pure fiat world there’s no restraint on credit/money creation and therefore the paper asset markets can be shoved higher by said credit/monetary expansion. Rick’s technical system works very well, he should focus on it solely and forget the macro theorizing.
Joy – Brexit wins!!!!!!!
The market is headed for a breakout to new highs soon. Listening to too much noise and crap about brexit I lowered my major oil BP and Shell holdings by 70% and those have broken out the last few days so I gave up huge gains. HPQ dropped sharply yesterday so I bought in and added more today and it is up sharply today. Pays 4% and is trading at less than 7X. Brexit is not really an issue based on how the markets are doing now.