by Dan Norcini
Trader Dan
By that I mean, it just keeps getting scarier and scarier.
My guess is that every speculator on the planet is long silver/short gold or outright long silver.
That of course is an exaggeration but I am not exaggerating when I categorically state that the silver market is a train wreck just waiting to happen. As I have said before, and will say so again – I would rather miss any more upside in this market than get long now, not with a trade so lopsidedly jammed with speculators on the long side. I will leave that for the daredevils and others who like driving the stagecoach as close to the edge of the mountain pass road as they possibly can.
Look at this baby and marvel!
As Lenin famously put it, a lie told often enough becomes the truth. For some in the City, Brexit is a bit like bad weather, or major sporting tournaments: a convenient excuse for businesses facing a tough time.
COMMENT: Hi Marty! I just wanted to say thanks for everything you’ve been teaching us.
This idea of a Superman arising from internal characteristics rather than recognized authority is an extraordinarily modern idea.
Buy Low, Sell High?
I had the pleasure of discussing various aspects of the global economy with Gordon Long in our monthly podcast.
[…] Despite a near-term outlook that remains rather neutral (though with negative skew), we believe that one requires either a disregard or an ignorance of market history to dismiss the likelihood of a 40-55% market retreat over the completion of the current market cycle. From present valuations, a market loss of that magnitude would not be a worst-case scenario, but merely a run-of-the-mill completion of the current market cycle. On a longer horizon, we presently estimate that S&P 500 nominal total returns are likely to average just 0-2% annually over the coming 10-12 years, with negative expected real returns on both horizons. Since the dividend yield on the S&P 500 exceeds 2% here, that also implies that we fully expect the S&P 500 Index to trade at a lower level in 10-12 years than it does today.
Standing up to bullies is usually the best way to end the bullying. But what if you can’t do that?
NIRP Absurdity Soars to New Heights.
If it hasn’t been on your radar recently, it should be.
After a massive sell order helped push the price of gold lower the past two trading sessions, below is an important update on the war that is raging in the gold and silver markets.
A little overdue but today we heard from the Bank of Japan and possible proposals to take rates even further negative and the likelihood banks passing these levels on to end retail. The Nikkei obviously liked it rallying 1.2% on the day whilst the Yen weakened over 2%. Both the Shanghai and HSI had mixed responses as most continue to talk Japan. The Nikkei’s rally was a great effort considering Mitsubishi Motor stock fell over 13% again today (after a 20% decline Thursday) after they admitted cheating on fuel economy test results.
[…] I WROTE THE FOLLOWING YESTERDAY:
The gold stocks have had a tremendous rally in recent months that has left most investors and even gold bulls on the sidelines. From low tick to high tick GDXJ has more than doubled while GDX has nearly doubled. Indices such as the HUI and XAU have more than doubled. It has been a fantastic rally yet both anecdotal and actual data suggests there has been a major wall of worry building. Although gold stocks may be starting a correction, the presence of a strong wall of worry provides further confirmation of a major trend change.
GUALFIN, Argentina – Here at the ranch, the skies have darkened, and the temperature has dropped sharply.
If you’re wondering what sort of robbery you’re being subjected to by the major cell carriers when it comes to individual plans, you need wonder no more.