Loading ...Oliver took a hiatus from X as I understand. Hunter was what $150-$300? I don’t remember but what I know is that neither will happen this year. I’m surprised we had the kind of rally we did, they’ve crushed sentiment so badly for the last 25 years. The general public wasn’t buying like they did in 2011 and will never come back – they were huge sellers this time.
All that being said, this could be a massive hit job that gets things prepped for rate cuts later in the year that might surprise people. Maybe in the fall. Oil is back to where it was pre-Iran. Even if that’s the case, it’s going to be a long, crappy summer for pm’s.
Base metals were up today surprisingly. PM’s always take the brunt of any massive selling.
Rates eased a lot today. The dollar should follow. Rallies in pm’s will be sold though. GDX held the double bottom and I think it might hold, but if it gets back to the 50 dma, it will be sold again. These shares are pretty much toast for months – again.