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my son set up a deer feeder and a trailcam in my back yard.  bambi will be on the menu!

Definitely remember Greenspan flooding the market with liquidity before Y2K and then again after 9/11

Longs got crushed when he withdrew the liquidity and shorts got crushed after 9/11 when he flooded the markets with it again.

That’s why it’s always so funny to me to hear the pundits talk about the economy as if it matters to the markets. It might have mattered back in the 30’s or even in the 70’s but once we went off the gold standard the only thing that has ever mattered is liquidity. A lesson I wish I had learned prior to 2000.

Very difficult to call a top here. The Fed seems more than happy to provide liquidity whenever needed. We don’t need to look any further than the Repo markets for evidence.

The older I get, the less I know old friend.

Very funny and very true all too often unfortunately.

Anywho — the similarities with 2000 are numerous and real — but this bubble is much bigger and could continue to go beyond the year 2000 NASDAQ analog because the bankers can’t stop printing like they did back then. If you remember, Greenspan flooded the system with liquidity due to the Y2K scare but backed off in January because he knew the bigger the bubble the bigger the payback.

Of course stocks could indeed top at NASDAQ 10,000 if the analog below has any predictive value — and based on the way gold stocks are acting right now we could also see a repeat of the liquidity event that took them down 25% in 2000.

See below:

The Husband Store

A store that sells new husbands has opened in New York City, where a woman may go to choose a husband. Among the instructions at the entrance is a description of how the store operates:

You may visit this store ONLY ONCE! There are six floors & the value of the products increase as the shopper ascends the flights. The shopper may choose any item from a particular floor, or may choose to go up to the next floor, but you cannot go back down except to exit the building!

So, a woman goes to the Husband Store to find a husband. On the first floor the sign on the door reads:

Floor 1 – These men Have Jobs


She is intrigued, but continues to the second floor, where the sign reads:

Floor 2 – These men Have Jobs and Love Kids.

‘That’s nice,’ she thinks, ‘but I want more.’ So she continues upward. The third floor sign reads:

Floor 3 – These men Have Jobs, Love Kids, and are Extremely good looking.

‘Wow,’ she thinks, but feels compelled to keep going. She goes to the fourth floor and the sign reads:

Floor 4 – These men Have Jobs, Love Kids, are Drop-dead Good Looking and Help With Housework.

‘Oh, mercy me!’ she exclaims, ‘I can hardly stand it!’ Still, she goes to the fifth floor and the sign reads:

Floor 5 – These men Have Jobs, Love Kids, are Drop-dead Gorgeous, Help with Housework, and Have a Strong Romantic Streak.

She is so tempted to stay, but she goes to the sixth floor, where the sign reads:

Floor 6 – You are visitor 31,456,012 to this floor. There are no men on this floor. This floor exists solely as proof that women are impossible to please.. Thank you for shopping at the Husband Store.

Just saw your post. Yeah, these guys in the Hamptons have been taking great pleasure in following the PPT on Monday’s after weak Friday’s coming in and crushing every short seller in sight.

R640 made a good point about the VIX showing no fear yesterday. Probably a pretty good indicator.

IMHO, the only thing that will derail the SM is if it looks like Trump will lose the election.

Course all the polls have Trump losing to whatever Demonrat wins, but that of course is B.S. and the SM knows it.

I guess I’d have to ask if you are you seeing similarities in the SM between 2000 and now?

I don’t remember if the SM was continually making new highs in 2000 or not.

Anyhoo, point taken. It appears it’s going to take much higher metal prices to get these shares moving, because as you say, the metals are “buoyant” – exactly – like a buoy floating on the ocean, not really going anywhere.

Then, as you say, if we see much higher metal prices and a big SM correction, there’s no guarantee we’ll see higher pm share prices. I have a bit of a hard time with the liquidity argument in this sector given how tiny it is, but we’ve seen this movie before.