Impact of the Coronavirus on the broad markets and balancing out gold vs commodities
Chris Temple joins me for a couple on the main headline today regarding the Coronavirus outbreak in China. Could it turn out to be another SARS outbreak which drove down markets?
We also discuss the balance between the moves in gold vs commodities. Very different aspects are expected to drive these markets moving forward so it’s important to understand where you stand.
Click here to sign up for the webinar Chris is a part of at 4:05pm ET today. Please comment or email me if you would like to see us do more webinars, and with which guests and companies.
Click here to visit Chris’s site – The National Investor.
A good correction is overdue and should be very supportive of a good move in the gold space.
SPY weekly:
https://stockcharts.com/h-sc/ui?s=SPY&p=W&yr=4&mn=0&dy=0&id=p79912786464&a=715189414
Bullish engulfing on GDX and that is positive. Barrick did quite well today.
Yes it is very positive and GDXJ is bullishly outperforming GDX (not today but overall it has been stronger lately).
https://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=5&dy=0&id=p08702999650
Davos and impeachment. My guess for wishy washy markets.
Hey Cory – Speaking of viruses etc. Do I remember correctly that you did an interview with Lexagene (lxxgf) some years ago? i actually own a few shares.
I don’t know that one but this is the best it has looked in years:
https://stockcharts.com/h-sc/ui?s=LXXGF&p=W&yr=4&mn=0&dy=0&id=p96733503334
thanks Matthew – Its showing some volume now
MMS is still downplaying Coronavirus effect but has anybody got their eye on Boeing? BA. Once it breaks $300 it’s going to fall like a rock. JMO
two names I have gotten into lately is mnk and mnkd . I follow @natesnotes on twitter for mnkd. mnk is very risky like teva and endp (opioid makers)
Stocks fall after CDC announces first US case of coronavirus, airline shares decline
https://www.cnbc.com/2020/01/21/us-futures-point-sharply-lower.html
Following 2 very overbought closes above the daily Bollinger Bands, stocks were highly likely to pullback today anyway.