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

Cory
November 9, 2017

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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Discussion
11 Comments
    Nov 09, 2017 09:03 AM

    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

      Nov 09, 2017 09:06 AM

      Interesting comments on this company over at ceo.ca:

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

        Nov 09, 2017 09:49 PM

        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

    Nov 09, 2017 09:18 AM

    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

    b
    Nov 09, 2017 09:19 AM

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

    Nov 09, 2017 09:21 AM

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

    Nov 09, 2017 09:44 AM

    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

    Nov 09, 2017 09:14 PM

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