Loading ...| from Jason Goepfert (Sentiment Trader)
More than 90% of stocks in the S&P 500 declined today. Since 1928, there have been exactly 0 precedents. This is the most overwhelming display of selling in history. |
Ipso 23:03
Lurking in the background. Just watching the world fall apart.
Still working part time on weekends. Don’t go to a hospital without someone with you. So short staffed it’s dangerous. stay healthy.
enjoy reading all the posts. Thank you to all that post.
Food for thought
I’ve been burned (partly, I guess, to my lack of thorough due diligence), on my investments in companies like GPL, MUX, Novo etc…..
What about the concept of paying these CEO’s tied to the performance of their stocks? Do you ever hear of an officer of a publicly traded PM company taking a pay cut? I just find it to be outrageous that only the shareholders suffer, yet the officers continue to get their lucrative pay…
Mr.Copper
According to Zerohedge Oil prices are tanking due to the idea that the Fed may produce a recession, with its rate rises and doesn’t care if it does……
That is just so much BS, as we all know the Fed will panic if a recession really starts and Biden and Co will go ape, in front of the Mid Terms….but it is the dream scenario as far as the BS story goes…so miraculously Oil craters etc…just like they needed.
This is the mkt being forced to react how the scum want it…right in front of the weekend.
@ Buygold RE: your 13:21 post
BG – Nicely put – truer words couldn’t be spoken – I agree 100%.
It’s just disgusting to see the condition that this once great country is in.
“We can’t go up when Powell is speaking to Congress.
It’s all so automatic, the algo’s have everything set – at least with the metals.
The SM seems to be rescued at times, so it won’t appear to be crashing. Death by a thousand cuts and a lot of cut fingers on the way down attempting to buy the dip.
PM’s are the opposite. The scum works endlessly to keep them at bay and the pm shares in the crapper. It’s the only sector that is in a bear market 90% of the time.”
@ Maddog 11:06 re Crude is falling apart on no news.
Haven’t we seen this a hundred times? The high prices cause low prices. I think the oil companies got screwed so many times the system “can’t get away” with whip sawing producers anymore. Remember the 72 Dollar caused $145 Oil, and the companies got tricked into expansion, over produced, and oil crashed to $28/bbl. One day it went negative on futures.
Thats how screwed up and totally distorted their financial pricing system is with unbacked paper money, and “gamblers and bankers” playing the futures markets. Thay bet USD up and down too.
Another thought. I mentioned a while back here. With all this hyperinflation talk, physical and mental, possibly engineered hoax, (like climate change) to make sure the system does NOT go into deflation, (bankers biggest fear) which in my view has been TRYING to happen. And the Fed kept fighting to stay above 2%.
God forbid the money we have in our pockets and savings go up in value. Bring it on. Naturally, a deflation would show the bankers don’t know what they are doing, and Gold would go up. Its under priced anyway.
In fact, a lot of the suddenly higher prices are simply adjustments to the reality of constantly manipulated lower prices. Like gov’t support for airlines. To maintain fake low ticket prices. Cause too much demand. NY to LA should be $4000 for example. And if that happens, its NOT inflation. Its a correction.
Lets think reversal. What ever was too cheap will go up, (non union wages, harbor freight stuff, used cars) what ever is too expensive will go down. (stocks houses?) The tricky part is trying to figure out what the prices (or values) should be compared to around 1975. I use a factor of 20. It used to be 10 long ago.
GFI – holding solid
no news that I can see.
We can’t go up when Powell is speaking to Congress.
It’s all so automatic, the algo’s have everything set – at least with the metals. The SM seems to be rescued at times, so it won’t appear to be crashing. Death by a thousand cuts and a lot of cut fingers on the way down attempting to buy the dip.
PM’s are the opposite. The scum works endlessly to keep them at bay and the pm shares in the crapper. It’s the only sector that is in a bear market 90% of the time.
Old timer 11:33
And they’re trying to nationalize oil with government control while they give subsidy’s to foreign oil per barrel driving prices up and tax ours locally while inhibiting drilling and production that will only bring prices up, supply issues and shortages.
The last time they did that OPEC raised their prices and you can’t just oh we can just go back to local when it’s not there or future production will come at a cost and I think they didn’t absorb all the reserves either last time driving prices up more when it has to be replaced.
From lock downs to can’t afford to go any where and declining quality of life. This is not supposed to hurt children? The silent victims of a incompetent parasitic government.
Ps and that’s not counting the gov appointed middle men. We see how well that’s working out in other areas like judicial and homeland insecurity.
drb2
The move out from a Cup and Handle tends to be straight up, which suggests that the Rig blowing up, will be the trigger and driving force.
FWIW…
James Kunstler offers a rather grim but realistic assessment of where we are.
Silver Cup & Handle
Got to admit this is about as pretty a Cup and Handle as I have ever seen.
BUT…. Can the chart defeat the Riggers?
time will tell.
more here: chart silver cup & handle at DuckDuckGo
Buygold
Agreed…today is a day where all the moves are artificial, the scum are are driving them all.
I have been watching Italian/German rates and they have moved back, despite no real concrete news and the fact that there can’t be…..
That said when we had our last crisis in 2006/9, the CB’s bailed the Banksters out…but the smart ones said, very good, well done…however next time the crisis will be the CB’s themselves and sure enough here we are, looking at the BoJ and the ECB boxed in……that CB crisis is starting.
Another day of suckitude
Shares stinking it up like they have all week.
USD just too strong, rates too.
Blackrock Announces Filing of Tonopah West Project Technical Report
https://finance.yahoo.com/news/blackrock-announces-filing-tonopah-west-184300877.html
Kuya Silver Announces Filing of Independent Preliminary Economic Assessment
https://ceo.ca/@newsfile/kuya-silver-announces-filing-of-independent-preliminary
Condor Gold Closes Previously Announced Private Placement of Units for Aggregate Gross Proceeds of £3.25 Million
https://ceo.ca/@nasdaq/condor-gold-closes-previously-announced-private-placement
Golden Spike Signs Letter of Intent To Acquire 100% of Golden Horizon Exploration Corp
https://ceo.ca/@accesswire/golden-spike-signs-letter-of-intent-to-acquire-100
Aya Gold & Silver Files Amended NI 43-101 Technical Report on Zgounder
https://ceo.ca/@newswire/aya-gold-silver-files-amended-ni-43-101-technical
P2 Gold Announces Financings
Is being a [bullish] contrarian the right thing to do–or izzit different this time?
There is an almost surreal complacency…on the TEE VEE BOX, most of what I hear is what stocks or sectors to be in…draw up your buying lists etc etc….I did hear a few analysts say sit in cash there’s more to go.
But the real problem is the ECB are still a-dither on how to tell the Germans they’re going to be paying for Italian pensions after all.
The key for the ECB holding Yoorp together is avoiding the “fragmentation” of Southern European sovereign credit spreads. We don’t know how their new “anti-fragmentation instrument” will do it – and neither do they, yet. They held an emergency ECB meeting to agree to agree about talking about it.
A full-blooded European Sovereign Credit Crisis is coming, and perversely it’s going to give us a clear investment winner! I am not for one second suggesting Italy is an attractive investment proposition, but it’s a screaming speculative opportunity! Buy Italy!
That’s because keeping Italy, and a number of other key debt-stressed members in the Euro remains the defining policy of the ECB, and thus the European Union. Like any good comedy – it’s all a matter of timing, and I would hazard a guess anything over 4% is as good an entry point?
Buy Italy. Sell Germany. Simples. First part of the Great Divergence trade.
The second part is to ignore anyone who says Sell Dollars.
Why would you? The US may longer be the globally trusted world policeman, but it’s still the global hegemon. There is not a credible dollar replacement. When crisis comes to sell – US Treasuries remain the ultimate safe haven, and if folk sell Treasuries it’s because they need dollars to pay as the benchmark for all commodity and finished goods trade.
USD back up with authority
surprised the metals aren’t down more. Rates flat.
I think R640 mentioned a huge quad witching day today – as well as Powell speaking. Usually not a good sign for pm’s.
Wonder if the SM will roll over again?
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Blindrn
Haven’t seen you for a while. How’s life? 
Ipso 16:27
Got it thank you.