Chris Temple from The National Investor – Thu 9 Nov, 2017

Markets sell off today picking up steam… No tax reform today

Chris Temple and I focus on the sell off today in the US markets. With tax reform staling in the Senate, investors are bailing and markets are down 1%. Money is not flowing into the safe havens of gold and treasuries as much as we would like to see. What will be interesting is if the drop today will be another buy the dip move tomorrow.

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Comments:
  1. On November 9, 2017 at 11:03 am,
    Excelsior says:

    For those following the Novo Resources, Artemis, and De Grey mining action in the Pilbara area play, here is another company that just found visible Gold in their conglomerate beds that is on the move today Kairos Minerals (KAI.AX) (MPJFF)

    http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1d074kn-43p2xv3bbnkj57.pdf

    • On November 9, 2017 at 11:06 am,
      Excelsior says:

      Interesting comments on this company over at ceo.ca:

      https://ceo.ca/kai.ax?e47109c329a8

      • On November 9, 2017 at 4:49 pm,
        Markedtofuture says:

        For those that do not know me I discovered Purdys and Comet Well and signed an agreement with Novo resources to purchase my interest.

        My leases have started a gold rush, is the only way to explain it.

        I’ve watched as companys in the area doubled in price and I cannot believe that Pioneer has not tripled.

        I’m no geologist but Pioneer holds very solid leases in between Novo and De Grey with the geology and history that tells me there is a lot more to come from this company.

        https://hotcopper.com.au/threads/kangan-gold.3763539/?post_id=27991785

  2. On November 9, 2017 at 11:18 am,
    Silverdollar says:

    Avi Gilbert writes often how the news doesn’t have any impact on markets. Much of the time it’s true I suppose but I agree with Chris that today’s swoon has a lot to do with the news that the Senate tax bill is considering postponing the corporate rate cut. Likewise, if that news is the reason, then the swoon should continue over into tomorrow’s market. JMO

  3. On November 9, 2017 at 11:19 am,
    b says:

    More interesting all the time, Bob could end up a billionaire.

  4. On November 9, 2017 at 11:21 am,
    Paul L says:

    No chance of tax reform happening by the end of the year. It is probably a one year job.

  5. On November 9, 2017 at 11:44 am,
    russell s hamilton says:

    Tax reform : REPUB congressmen from high income tax states [ ny, cal, nj, conn ] well have a hard time voting for a package that does not give them deducs on thier taxpayers but insteadsharpley increases voters taxes. But if they do give back the deducs how are they going to do this without vastly increasing FED debt ?? S

  6. On November 9, 2017 at 12:14 pm,
    Chartster says:

    Answer: F the phony fed debt! Erase it with one silver coin.

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