With seemingly all events being suspended what are the chances the markets are shutdown?
Erik Wetterling joins me for a discussion on the broad selloff in metals stocks and the corresponding crash in valuations. We also outline the possibility of markets being suspended along with all the other events over the past couple days.
Good listen. I like the way Eric handles sell-offs. Logically! He’ll be a winner……if the virus doesn’t get him.
Baseball just joined other sports eliminating fans. If we all just stand in place for a month-six weeks, we’re in a definite recession.
Just nibbled at NUGT and GUSH.
Correction: Baseball suspended operations, nothing to do with fans.
Erik is a sharp speculator and I enjoy getting his perspectives on how he approaches value investing and thought he made a lot of great points in today’s daily editorial.
Ever Upward!
Really impressed with JAG this whole week. It’s actually green (the only green) on my screen today. Up .0011 cents.
JAG closed down 13.16% today. Are you talking about the same Jaguar Mining I am?
It has to be positive that I’m down only 1.8% at the moment. It was MUCH worse earlier.
GDXJ is down over 21%
GDXJ ended up closing down 26.27% today.
It was a bloodbath once again in the miners across the board.
I was in the green briefly this afternoon but finished down 6% when BBB took another dip.
GDXJ finished at its low so don’t be surprised if it see 21.25 tomorrow. And if that doesn’t hold, we’re looking at revisiting the bear market low around 16.
https://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=5&mn=0&dy=0&id=p69785957391&a=726755492
It would be great if we didn’t have to revisit the bear market lows again, but in many smaller Juniors that is what has effectively happened over the last 3 weeks.
Personally I’ve lost about 1/3 of my account value from February to March, so it has been a particularly painful experience. It wasn’t this bad in even in 2013 or 2015.
Granted, I’ve done my best to position in some of the highest torque companies I could find, and just as they outperform on the upside, they also outperform on the downside. Some of them are higher torque because they are distressed, but in this kind of panic sell environment they have taken a significant hit and may take a while to recover, or some may not recover.
Have not looked at my portfolio all week. Stay the course.
This is pretty funny and is reminiscent of so many narratives investors tell themselves:
https://pbs.twimg.com/media/ES7d7DtXYAIDzs5?format=jpg&name=large
I might have posted this already but I think the Dow will probably dip below 20,000 before it has a good bounce:
https://stockcharts.com/h-sc/ui?s=%24INDU&p=W&yr=6&mn=6&dy=0&id=p21435572099&a=726667863
The NYSE Comp. Index has given back all of its gains since Trump was elected, and then some…
https://stockcharts.com/h-sc/ui?s=%24NYA&p=W&yr=5&mn=0&dy=0&id=p28124793443&a=635605104
The same goes for the Russell 2000:
https://stockcharts.com/h-sc/ui?s=IWM&p=W&yr=5&mn=1&dy=0&id=p99942683872&a=726196210
It all depends on what happens with covid-19. Just how long will it inhibit trade….or even life as normal.
On the optimistic side, covid-19 will be around for 3 months. It could be stopped in just over a month, but politicians dare not do what is necessary.
No statement is more true than “the future is unknown”
https://www.youtube.com/watch?v=PXcbF0uQVEY