The reasons US markets are looking at new all time highs
With the Russel 2000 at another all time high and the S&P very close to closing at a daily all time high we need to consider why this is happening. Chris Temple joins me to discuss the reasons why the markets are at this level as well as the risks ahead that could move the markets down.
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Too the Moonnnnnnnnnn
Mr. Show- Blow Up the Moon
🙂
lost for words……..
Just a little lunar humor 😉
TRUMP SCHEDULE
Wednesday, April 26, 2017
10:30 am || Receives his daily intelligence briefing
11:20 am || Makes remarks and signs an order to review federally protected land designations; Department of the Interior
12:30 pm || Lunch with Vice President Pence
1:30 pm || Meets with Secretary of State Tillerson
2:30 pm || Participates in a federalism event with Governors and signs the Education Federalism Executive Order; Roosevelt Room
3:00 pm || Drops by a briefing for senators on North Korea; Eisenhower Executive Office Building
4:30 pm || Holds a National Teacher of the Year event
5 pm: Tweet, everything is a disaster and every country in the world is to blame for our troubles.
Interesting that you use Catepillar as a reference to the global economy.
Catepillar’s top line number was smaller than the previous release.
The bootom line number blew away analysts number but it didn’t come from increased sales.
Things were less bad — more encouraging was the CEO’s discussion of a pickup in orders in some segments. Better than I expected to hear, though I’m not suggesting we pop champagne corks.
The downside, of course, is take a look at U.S. Steel and some other less dramatic weakness in steel/iron ore/overeager infrastructure stocks.
Chris is spot on again…… jmo
SLV is going to collapse. It’s 5 and 3 day RSI’s are at extremes. So expect some sort of dead cat bounce, maybe just for a day. 8 days in a row down. Can we make it 9 tomorrow?
Quite frankly, it’s a short under the 100 day EMA. That is a safe stop. Given the extreme bearish CoT structure, this could get extremely ugly. The weekly stochastics are still in overbought territory. Where will silver be when they finally get to oversold levels?
It all depends on the yen. If the yen decides it is going to put in a major correction on the weekly chart (i.e., the weekly stochastics go to oversold) kiss the metals–especially silver–good bye.
Central bank is in control, print some more paper…….no problem….another Trillion here and there makes no difference at this point. Just buy, be happy. 🙂
Silver still stinks………. 🙂
silver $17.35……what a treat ……..tricker treat………going south for the summer..
$17.49
Load up on the miners…….buy low…..
Bix Weir out with a message on BItcoin……going to the moon……better buy now….
Already have my rocket loaded and ready to go.
Bitcoin,$SSEC,$GOLD=Chinese volatility indicator priced in Gold.
GOLD…..into China via Hong Kong DOUBLED………zerohedge
I think GDX is in danger of going sub $18 in the next few months and possibly to retest its 2016 low in the $13 area eventually. I actually think this is the most likely scenario based on the monthly chart and past analogs (e.g., $sugar from ’99 to ’02). We have a death cross (see $hui) and the monthly stochastics are below 50 and pointed down. This months candle is going to be a giant red candle, and unless we rally like crazy in the next 2 days, it virtually guarantees follow through to the downside. There is absolutely nothing bullish on the monthly chart.
You’re jumping the gun again, Spanky. Neither GDX nor GDXJ have even touched the 200 week MA yet!
http://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=2&mn=5&dy=13&id=p29964051251&a=520220622
There is absolutely no catalyst for commodities or metals–none. As long as the US continues to tighten relative to the BoJ and the ECB, kiss commodities and the PMs good bye.
The HUI is already under its 200 WMA. Unless we get a major bounce back by Friday, there will be follow through next week to the downside. The next target is the lower weekly bollinger band. Let’s not even mention the horrific monthly candle which assures a bare minimum a lower monthly low in May.
I’ll give you credit, you are ever the optimist, but the writing is on the wall. I’m sure you will stick to your bull market thesis all the way to GDX 13 and $HUI 100. And we may very well be in a bull market but I think we are going to get pretty close to the 2016 lows at a bare minumum. Definitely sub $18 (which is probably only a week or two away).
I don’t believe that I am an optimist. I simply crunch every bit of info I can manage. At the depths of the bear a couple of years ago, I stayed extremely bullish about the big picture while many were either sure or worried that we were in for a secular bear that had many years to go. My convictions are not based on hope, they’re based on work.
You should be very careful with assumptions like the one you began with: “There is absolutely no catalyst for commodities or metals–none.”
I hope you are right. I am still long but I have zero expectations right now other than completely negative. Don’t get me wrong, the weekly charts are still hanging in there, but the $silver CoTs have me extremely concerned.
Barkerville drills 14.55 m of 13.63 g/t Au at Cariboo
2017-04-26 08:11 ET – News Release
Mr. Paul Geddes reports
BGM INTERSECTS 13.63 G/T AU OVER 14.55 METRES AT SHAFT ZONE
Barkerville Gold Mines Ltd. has made a new discovery from the continuing 130,000-metre phase 2 Island Mountain exploration drilling program at the company’s flagship Cariboo gold project. The company is currently exploring and delineating the Valley zone with four drill rigs. Detailed drilling results, a drill hole location plan map, level plan and longitudinal section are presented on the company’s website.
Canada real estate crash ……..large mortgage lender in trouble………bubble time…….zerohedge
Canada housing regulators warn of housing problem……zerohedge
The golden shower heads are going to be turned off………
It is a not a significant mortgage lender. The big banks do most of the mortgages and they are solid.
this looks more like May of 2015 than January 2016. In may of 2015, we got a waterfall decline that ended in July-August 2015.
I think we are going sub 150 on $hui this time and probably get close to 100–maybe 120-130, before basing out. What a POS.
I think you are correct on the HUI
sub 150…..not sure about the 120
SiLver $17.35……….going to $16 territory next………
72.68……..gold to silver ratio………
Trump going for Tax breaks for everyone………stock market will explode….going higher than high , all is well…. 🙂
Yup, I can see lots of people jumping on gold as the stock market goes higher.
B: The more people that jump into the conventional market,the more bullish of precious metals I become. Of course I have time on my side. The only worry I have with gold is if the neighbors buy metal detectors and start prospecting my yard.
lol, thats funny john.
Seriously, I know a fellow that buried his metal under his garage floor.
Just cut the hole and re cemented the floor.
+1 JohnK
Downsize the government to pay for the tax cuts, fat chance! They will probably hire more for the newly created tax cut department. DT
Who said anything about downsizing govt., why, that would be unamerican…… 🙂
You Canadian guys, need to get another real estate loan before the market closes…, understand a big bank/lender of mortgages is in trouble…..see zerohedge btw , do not worry about the price or the bubble bursting,,it is just a story to scare you out of action, where there is gigantic profits…
Don’t tell OWL……he already has to much real estate……. 🙂
99% or so Canadians have never even heard of this company. They likely do less than one out of every 100 mortgages. People generally go the 5 major banks: TD, Scotia, BMO, TD, CIBC. I have never gone outside these banks.
https://youtu.be/5EWDxL-09BA?t=33
Epstein morning TA