Weekend Show – Rick Bensignor and Marc Chandler – Making Sense Of The All The Market Weakness To End The Week

April 23, 2022
Full Weekend Show

Well, that was a very bad way to end the week for all investors. It seemed like nothing was safe from the selloff that started on Thursday and continued on Friday. I focus the whole show with two guests on the weakness in US markets, bonds, gold and PM stocks.


Please keep in touch with us through email. We love hearing your thoughts on the markets, metals and companies you think we should feature on the show.



  • Segment 1-3 – This is an extended segment with Rick Bensignor, President of Bensignor Investment Strategies. Rick kicks off the show by sharing why his trading strategy is now to sell the bounces and cut the lagging stocks. We discuss US markets (which individual sectors he is long), gold and gold stocks as well as commodities broadly. Click here to learn more about Rick’s investment letters.
  • Segment 4 – Marc Chandler, Managing Partner at Bannockburn Global ForEx joins wraps up the show with a focus on the currency markets and what they are telling us about future Fed policy. We also look at the bond market where yields have exploded higher in the past 2 months. Click here to follow Marc on his blog – Marc To Market.


Exclusive Company Interviews This Week



Rick Bensignor
Marc Chandler
    Apr 23, 2022 23:41 AM

    Europeans may soon buy oil with rubles (13:00):

    Apr 23, 2022 23:46 AM

    Enjoyable and educational listen.
    However, these type listens get me close to second guessing myself.
    Obviously Mr. Rick is much more educated and experienced in his field and yet he seems to be 180 deg contrary to my investment plan and trading strategy.
    I will stand my ground and not adjust because of one dude’s opinion….but it is hard to “un-hear” it.
    Keep up the awesome work and thanks for it.

    Apr 23, 2022 23:14 AM

    Yesterday we saw a little distress selling in the markets, nothing to worry about The Fed will rig the game. They will calm the situation down on Monday with reassuring words,” We believe the slump in stock prices will prove to be an intermediate decline, DON’T WORRY, we have lots of liquidity.” BE HAPPY! LOL! 😍 DT

    Apr 23, 2022 23:53 AM

    The Fed will raise rates until they crash “something”. That “something” is anyone’s guess—it could be a combination of “somethings”—-stock market, bond market, housing market. Maybe even commodities get hit if we have a good “ole” recession that decreasing demand is contra to the demand pull inflation of commodities (supply shortage)—-regardless, hang on to your hats.

      Apr 23, 2022 23:38 PM

      That something may very well be the pensions…especially the pensions of the state and local gooberments. Do you think the Feral Reserve will allow that?

        Apr 23, 2022 23:59 PM

        Why not—they’ll just raise your taxes.

          Apr 23, 2022 23:16 PM

          Yes they will. That’s their play book and what they’ve been doing plus stealing money from things like road maintenance and other infrastructure for the pensions. Problem is, even with raising taxes and diverting money for the pensions that should go for roads, etc., the unfunded pension deficit has continued to grow. And since they don’t have a printing press they have to try to take on more debt and also gamble even more in the Wall Street casino.

        Apr 23, 2022 23:03 PM

        China must be watching what is happening in The West with GLEE! They have The American’s industry and now America has turned Russia into a pariah and The Chinese and Russians are now allies who want no part of The West anymore, they got it all and it was happily handed to them by a failed state that wanted to print money and sit in front of their computers playing silly games, all the while missing the drama that has them cornered. Russia has the raw materials and the energy, China has America’s industry.

        America still must pay the piper for all that money printing, and they will lose The World’s Reserve Currency status. It just is beyond comprehension! DT

          Apr 23, 2022 23:30 PM

          China must be watching what is happening in The West with GLEE!

          Not to mention amusement.

            Apr 23, 2022 23:40 PM

            so true ed…..china has been buying hollywood studios for over 45 years…they knew the propaganda value of intertwining their message in block buster type films…it worked..woke

            we are being whipped like a poor dumb mule…outstanding show on metals et al…thank you

            i mean DT also for authoring the statement, of course…sorry…got confused while scanning

            Apr 24, 2022 24:36 AM

            China would like to test some of their new weapons on the battlefield, probably envious of Russia having the opportunity.

            Apr 24, 2022 24:11 PM

            Ebolan, Dick Tracey:

            My guess is that China has little time to gloat about anything these days –

            Their vaccine isn’t that great and unless they want covid to run wild and kill lots of folks their only option is to shutdown cities and lock folks in their houses/apartments. I just heard that parts of Peking are now locked down.

            All they need to fix things is a 3 billion shots of Moderna but alas national pride won’t let that happen.

            China is screwed.

      Apr 24, 2022 24:17 AM

      The Western World doesn’t face reality anymore, they don’t talk about a Depression, that word has slipped out of our vocabulary. It’s like living next door to a household of occupants who are all pumped up on prescription drugs, paranoid of what they might find if they open the door, and continually hiring dog walkers, gardeners, and anyone else that will keep them sequestered in their premises. All the while racking up huge debt imbalances on their credit cards. DT 👀

    Apr 23, 2022 23:44 PM
    Apr 23, 2022 23:54 PM

    America has the mindset of a people at war. They have learned to strike down the thing they hated, not to negotiate or argue but to strike. There is always another danger on the horizon for Americans. They haven’t challenged any of the illegal multiple wars since World War II, except for Vietnam. The war in Afghanistan went on for 21 years but Americans can’t face reality anymore. The public has lost the battle with Big Government. DT

    Apr 23, 2022 23:04 PM

    The weekly overbought dollar could top sooner than many expect.

      Apr 24, 2022 24:36 PM

      The great dollar collapse can’t be soon enough for those holding their breath for that to happen the past year. In particular those told to bet on the CDN $ with its postive fundamentals of a raging oil price rise and all things commodities.

        Apr 25, 2022 25:04 AM

        Yet another vacuous, vapid assertion. There’s little hope for your success if you think the USD’s outperformance of the euro has anything to do with its purchasing power in real life. The dollar buys a lot less of everything month over month and year over year yet you’re too dense to notice?
        When are you going to grasp the fact that the dollar could theoretically lose all of its value while the USD index stays where it is now? That’s what would happen if the central banks could perfectly coordinate their thieving policies. In fact, something very close to that is exactly what HAS happened for many, many years. Just look at price charts of gold priced in any major currency and you’ll see that those currencies have all performed nearly equally as poorly. That’s so you sheeple don’t notice the endless shearing your savings are taking and it obviously works like a charm.
        To fixate on the dollar versus the euro or any other shit paper is a fools game that many millions are happy to play so at least you’ll never get lonely.

          Apr 25, 2022 25:09 AM

          My grandfather talked about the eroding value of currency, in the meantime Matthew, I intend to accumulate as much of it as I can. Holding cash since dumping out anything gold related mid March feels perfect to me. Will likely use some of those worthless dollars in the near future to buy back to the next trip up.

            Apr 25, 2022 25:23 PM

            The “near future” should have been this morning.

        Apr 25, 2022 25:11 AM

        Funny, despite the Canadian dollar being 5.6% off its 2021 high, it is still 15.2% above its 2020 low. Why am I not surprised that you don’t know a bullish big picture when you see one?

          Apr 25, 2022 25:19 AM

          Cold comfort to those who followed this wisdom and accumulated cdn$ vs US for the past year. Fact is, when the cdn$ sits in a shit hole while all the fundamentals with a spiral in oil and commodities go otherwise, while the US$ rises that’s not good.
          No diffeerent than when gold stairsteps its way up while the beneficiaries like bottom feeding dregs spin in a ditch.
          You making any money?? I am by simply holding worthless currency as I can now buy more with it than before. Get with the program.

            Apr 25, 2022 25:21 PM

            Yup, I am making money. Nothing you say can undo the gains that you and Doc missed since the January low. I’ve made it clear repeatedly over the years that I trade the liquid positions like SILJ, GDXJ, GDX, HL, etc. and am happy to avoid trading my smallest juniors when they are so low. For IPT, for example, I stopped actively trading it many months ago when it gave up the .70s. My interest has been in buying more or holding, not avoiding more downside. I sold a huge amount of gold-silver tiny caps in 2020 and am perfectly fine with the current action.
            This isn’t Doc getting something right for a change; it’s Doc getting a second chance that is still inferior to buying in January when he and you thought it was a bad time to buy. As I’ve pointed out repeatedly, It’s been the same at every single solitary low. You guys are unable to recognize when the odds have turned against more downside. At the moment, SILJ is STILL 18 percent above that late January low while Brixton is 24 percent above its September/October low which you two also completely missed. Friday was a “big” down day for Brixton yet it traded a ridiculously low 167,000 shares (roughly $25,000 worth). Am I supposed to get concerned when scared dumb money has its way with a stock simply because everyone else is either holding or waiting? Brixton’s total volume for all of last week wasn’t even close to half the size of my position.
            Now Doc thinks the time to buy will be during the next two months and you probably agree.
            Holding piles of dollars through recent months is nothing to be proud of.

            Apr 25, 2022 25:39 PM

            You need remedial chart schooling if you think the Canadian dollar’s correction following last year’s high is somehow a bearish thing for the bigger picture. It has made higher highs and higher lows since December and is still well above last months low so your negativity is premature as usual. Operating on pure emotion as you do is a recipe for disaster and I have a feeling you know that from first hand experience.

    Apr 24, 2022 24:53 AM

    Murder is usually a choice …

    Apr 24, 2022 24:19 AM

    Scotiabank believes The Bank Of Canada could raise lending rates a full percentage point at their next meeting in June, inflation is running higher than they expected and even higher than they will admit. They just recently raised rates .05% two weeks ago. This will send real estate, the construction industry, and the economy into the beginnings of a deep decline. DT

    Apr 24, 2022 24:28 PM

    “Safe haven” debt has been a catastrophe versus gold and will get much worse in the years ahead but shorter term, a bounce should be coming relatively soon.

    Apr 24, 2022 24:42 PM

    If we do away with the smoke and mirrors brought about by a select few big stocks, the stock market topped versus gold (i.e., topped in real terms) in 2018 so it should be no surprise that REITs vs Gold topped then, too…
    REM:Gold is down 43% since 2018 and 24% since October and is not done by a long shot.

    Apr 24, 2022 24:57 PM

    The next several decades will be nothing like the last several so beware those who cling to the mantras of the past (like “inflation will be transitory” or “buy the dip in stocks”).
    Quarterly UST 10 year yield:

    Apr 24, 2022 24:20 PM

    Paper future markets down again on Sunday evening… best time to sell for maximum profits. At least that is what your Central Banker will tell you.

    Apr 25, 2022 25:09 AM

    Price Quality:
    NatGas Chapman Wave (F) Low.
    Oil Now Bottoming?

    Apr 25, 2022 25:26 AM

    It is one of those days when Retail pays the price for the Fraud of Wall Street.

      Apr 25, 2022 25:02 AM

      Looks like there is some misdirection by taking everything down to hit commodity prices lower. Now who would benefit from that?

    Apr 25, 2022 25:05 AM

    Doc, your candy store is having a fire sale. Hope u noticed.

    Apr 25, 2022 25:08 AM

    an incredible scene, cde, poster holding ipt, grsl, etc etc all at or below two year lows with gold hovering around 1900.
    Should at least some attempt pop up, will see how rest of today/tomorrow goes. This time may be better to pick up some of these dregs as option equivalents on the majors.

    Apr 25, 2022 25:26 AM

    I was expecting a pull back here believe it or not but the overall picture has not changed. I remain more bullish then ever before.

    For quick reference to what I’m seeing in my charts regarding gold specifically I believe today or possibly tomorrow has a great chance of completing a monthly low which would put the monthly prices on the miners at a floor. This is not investment advice but what Glen is seeing through his lenses.

    The monthly candle in all probability will paint red for the following hui, xau, gdx, gdxj

    The key reversal in gold “ could” come around 1877-1885 if it goes lower from here. I’m looking for a monthly bottom at the 10 day moving average across the board give or take with the above mentioned.

    We are extremely close which leads me to believe may and going forward will and should be very prosperous and a breakout hard to believe of gold should happen imo before summer or during summer..

    Best of luck to all the long time investors and pain always comes with reward in the end!

    Apr 25, 2022 25:14 AM

    As I have been saying, the severe damage inflicted on the silver miners between July ’21 and the beginning of this year pretty much guaranteed they would be dead money or worse for a year and wouldn’t recover their 2020 highs until 2023.

    Nothing about my original opinion has changed.

    Additionally, while I am not anticipating a 2008 style meltdown, I am absolutely not ruling it out. The failure of the HUI:gold chart to breakout was telling back then. Is history about to repeat?

      Apr 25, 2022 25:30 AM

      Right Green, some kind of pop up in gold, if for no other reason but short covering is where to lean. Same with conventional markets with spx at 4200 , has a bit more to 4000 when compared to naz which is virtually already there at 12,600 give or take.
      No rush to be the first one in however unless you want to take a flyer on either market for entertainment, as the market may want to punish Powell some more for his new found resolve on rates rising first.