Horrible jobless claims data, oil market moving higher on China and Trump comments – Don’t buy into some of these bounces today!

April 2, 2020

Chris Temple joins me today to address a couple major headlines that are moving markets today.

We start with the blowout jobless claims number that came in at 6.65million. Next up is news impacting the oil patch. Trump made comments bu the news out of China is what’s really contributing to the >25% gains today.

With pretty much everything up today there are a lot of rallies to be faded. However we do wrap up the call with the rallies that Chris thinks are real.

Click here to visit Chris’s site and follow along with his commentary.

    Apr 02, 2020 02:17 AM
      Apr 02, 2020 02:18 AM

      Instead Of Firing Everyone, Boeing Offers “Voluntary Buyouts” To Its Entire Workforce Of 161,000

        Apr 02, 2020 02:10 AM

        Boing’s offer likely hinges on their successful application to the Fed for at least 50 Billion. Otherwise, where’s the cash coming from for the buyout? Guess they could always sell that treasury stock they bought back…..duh! Fact is, the buyout is on the public…..I’m getting my share in the mail today.

          Apr 02, 2020 02:11 AM

          Boeing, not boing

          Apr 02, 2020 02:56 AM

          You can depend on Boeing getting the money…… many aircraft builders are left…
          I bet there a 100 politicians who are getting a paycheck out of this one……Hell, they are all now partying , their on SPRING VACATION …..

          Apr 02, 2020 02:58 AM

          Yes, we the sheeple , should be very happy….lol……….
          You get $1200, ……..they get $5.6 TRILLION……

            Apr 02, 2020 02:00 AM

            Next,,,,,that $1200 check you are getting , ……someone in the future is going to pay that much for a loaf of bread…..

            Apr 02, 2020 02:02 AM

            JERRY here we are standing in the NWO bread lines…


            Apr 02, 2020 02:03 AM

            And getting their free soup…

            Apr 02, 2020 02:36 PM

            NO LINES………JUST SNAP cards……….there are already lines and have been for years….
            95 million not in the work force……before the virus…
            This is the boogie man scenario …….

            Apr 02, 2020 02:04 PM

            “95 million not in the work force”

            Just for your info. The “not in the labor force” category includes retired persons. disabled persons. housewives, school students.

            Apr 02, 2020 02:31 PM

            Apparently, the snap cards aren’t snappy enough…heard about the 8 mile car line in Pa. for one of the charity food banks…

            Apr 02, 2020 02:08 PM

            I understand , they are holding up the $1200 check, and it may be MONTHS before some get the payments…………

            Apr 02, 2020 02:04 PM

            JM……I think the number also, includes those still looking for a job…..

            Apr 02, 2020 02:36 PM


            The 95 million that make up the “not in the labor force” category are mainly retired persons, housewives, school students and disabled persons. These types of people are not considered unemployed HOWEVER a small percent of those 95 million should be considered unemployed. These are long-term discouraged workers who have been out of work for at least one year and have not even looked for a job in a year but have stated that they would like to have a job. Those 5 million or so should be included as being unemployed and be factored into the unemployment rate but are not.

            Also the unemployment rate is comprised of employer and household surveys. So the unemployment rate is basically a guesstimate. Even John Williams said that his 21% unemployment rate, in which he uses the same BLS numbers and adds to it the number of long-term discouraged workers, is just a guesstimate and that it may be overestimated.

            The unemployment rate was never meant to be exact or probably not even real close. It was just to give a general idea of how the labor markets are so a trend could be seen.

          Apr 02, 2020 02:47 AM

          Good discussion, especially on oil. Thanks Chris and Cory. We’ve got ourselves into this problem with oil shale, over-production, debt because of the Fed and their policies. Can’t really blame the Russians or Saudis, although that’s trump’s habit. The Chinese strategic reserve isn’t more than one day’s over-production of the world output. They’ll get a much better price than that which our government paid to refill our reserve. Iran is still in a hurt; that’s where China will head to for their supply needs. jmo

    Apr 02, 2020 02:38 AM

    Mexican silver mines shut down for 30 days.

    A few weeks ago I posted that some silver companies in Mexico were unable to operate due to gang activity, now its the virus.

    I wonder how far down share price can fall.

    Phyzz is still selling for $35-$40 cdn.

    Apr 02, 2020 02:44 AM

    Chris says when he saw how much oil went up this morning he said SHORT THIS SUCKER!
    I came to the same conclusion and sold 25% of my RDS.A @38. It was down to 20 last week.
    I’ve owned it for 40 years and thought I would never sell, but after the last month I was ready to raise cash. I wonder if Doc was buying RDS this morning as I was selling?

    Apr 02, 2020 02:22 AM

    This complete worldwide blanket shutdown with no end in sight as opposed to a selective shutdown of higher risk activities, places, businesses combined with social distancing, facemasks and self isolating by higher-risk individuals etc. seems somewhat strange. To me, there just seems something a bit ‘off’ with what’s happening, but I’m not prone to conspiracy theories and I can’t put my finger on what exactly doesn’t feel quite right. I can’t prove anything, I don’t know the answer but I know I don’t feel entirely comfortable with what’s happening. JMHO.

      Apr 02, 2020 02:50 AM

      Nigel…………you might be catching on……it, has nothing to do with conspiracy theories.but, conspiracies do exist….FACT.
      Something is not right…….and it is happening and that is FACT.

      Apr 02, 2020 02:44 AM

      Citizen reporting for Truth:

        Apr 02, 2020 02:16 PM

        Those who own the government also own the media. Surprise!
        Fake news (propaganda) has been going on for decades and decades but few noticed before the internet. It’s that simple.

          Apr 02, 2020 02:29 PM

          I have no problem admitting I needed the net to become aware.

            Apr 02, 2020 02:34 PM

            There’s nothing wrong with that. Look at all the people who STILL can’t figure it out. I have a problem with them.

            Apr 02, 2020 02:09 PM

            We have a lot still here…………

            Apr 02, 2020 02:12 PM

            Where is DING DONG PROFESSOR…………..I think I will repost the above…..

    Apr 02, 2020 02:26 AM

    I hope you all heard Dr. Shiva Ayyadurai discussing Wu flu on http://www.coasttocoastam radio last night. He invented email when he was only 14 and then got 4 degrees from M.I.T. including a Ph.D. in Biological engineering. He does not think a vaccine is the answer.
    Check his web site if you missed him last night.

    Apr 02, 2020 02:31 PM

    Chris Temple is great. Give me a guy who tells his honest opinion, no matter the hurt.