Technically this is a bull market rally but very few are believing it
Ed Moya kicks off today with a look at the US markets continuing to move higher and the upcoming OPEC+ meeting.
US markets are technically in a short term bull market as they are up over 20% from the lows just three weeks ago. However very few people are actually buying into this in a long term sense. As for oil everyone is waiting for the OPEC+ meeting on Thursday.
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Michael Burry is right. Quarantine the sick, not everyone. Sweden, Holland, Taiwan, Japan, and S. Korea are open for business. People wear masks.
A short term quarantine does little. A long term quarantine totally wrecks an economy. So mask wearing makes more sense to me.
Trump panicked and made a bad decision, when he first got the 2 million deaths projection, and now he’s trying to figure out how to end the stay at home program, without admitting he made a mistake.
fear you government and their stooge tools such as medical cartel players?
https://www.breitbart.com/asia/2020/04/07/report-wuhan-funeral-homes-burned-people-alive/
government is always delivered at the point of a gun
I agree Larry, but I also think China had the virus contained by this vicious move.
Except they mistakenly thought that 14 day quarantine would work for Chinese returning from abroad. They underestimated asymptomatic transmission of the virus.
Hi Matthew and/or Excelsior, how would you compare the charts of RDS.A to PSLV ?
I just sold half of my RDS.A@38.6 and bought some more PSLV@5.645
I figure if silver coins are selling at an 80% to 100% premium I can’t get hurt too badly buying PSLV at NAV. Thanks.
If you are locked down today go to vaxxed2.com and watch the film till this evening for half price, just $7.50 Big AL and Frieda would enjoy this movie.
Al Kaline fans can go to youtube.com and enter “Yankees vs. Tigers August 4,1956” and see Mantle hit one HR and Kaline hit 2. Very emotional 8mm film shot by a Tiger fan.
Bonzo, I think your timing was good. Both have had good rebounds but RDA/A is up nearly 50% vs PSLV since it bottomed and is at an area of some resistance. Both will go higher but PSLV seems like the safer long term bet.
Matthew, actually RDS.A has risen from 20 to 39 in less than 2 weeks, which is up over 90% , and I think oil can drop back to 15, so Shell can tumble again. Well, if it goes up I still have half my Shell so I’ll be crying all the way to the bank. Thank heavens I sold 1/3 of my XOM last year@76 or 77 and put the money into BTI@37.
Bonzo, that 90% is versus dollars. At today’s open, it was up almost 50% versus PSLV:
https://stockcharts.com/h-sc/ui?s=RDS%2FA%3APSLV&p=D&yr=0&mn=9&dy=0&id=p37246156770&a=735227421
I don’t know about $15 oil. If it happens, it would be the equivalent of roughly $3 oil in 1999/2000 dollars.
/GC hit trend line resistance and was rejected…
Whatever gold does here, I think silver is going to do some catching up.
GLD weekly:
https://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=8&mn=0&dy=0&id=p44498807272&a=701465400
It seems like GLD will fill yesterday’s gap…
https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=9&dy=0&id=p32190864736&a=692805130
https://www.zerohedge.com/health/michael-big-short-burry-blasts-unjustifiable-lockdowns-most-devastating-economic-force
Smart guy, unlike dr freda, he makes no mention of the vaccine scam to save us…He gets it….