The futures contracts were about to expire and the speculators didn’t want to take physical delivery so oil went negative because no one wants it. Oil is based on the economy, fundamentally we have produced too much oil and there is a huge over supply combined with the economy being shutdown no one is using oil. These big oil companies are going to need another...
Keep in mind I like to see a sell signal on weekly charts first but I think all this hype about halving is nonsense. Just because you make something that has no intrinsic value more rare doesn’t make it more valuable. I get the feeling this thing could fall soon especially if we break the uptrend more solidly.
I have the two possible scenarios that I see playing out. I will post an update when objective shorting opportunity.
We’re about to be right up with Japan. According to Debt clock www.usdebtclock.org we have 23.8 trillion in debt. We are currently spending 5.1 trillion per year. I mentioned that Goldman Sachs estimates a 34% drop in gdp to around 14 trillion so I would expect tax revenue to be similar to 2007 or 2009, say 2009 cause we were in recession. Tax revenue in 2009 was...
Check out my last two ideas where I point out all the problems this is what I am doing. We all need to acquire as much physical Gold and Silver as possible (real tangible assets). Meanwhile, I use the income from my work plus income from swing trading the market, I take the dollar profits and convert it to Gold and Silver. Right now the bullion dealers are blowing...
Goldman Sachs came out with an estimate for a 34% drop in gdp along with 15% unemployment in a year followed by the quickest recovery ever. I have heard other estimates that unemployment could go to 30% which is realistic. The quickest recovery ever bullshit, not only do we have so many problems this stimulus bill incentivizes people to not work they get an actual...
The initial price tag is 2 trillion this won’t be enough many more bailouts coming. We basically have to bail everyone out because no one has any savings the fed has artificially suppressed interest rates for the last two decades, everyone is loaded with debt that can’t be paid, so a flu comes around and is more than enough to wipe everybody out. This stimulus...
Was expecting it sooner, but this rally should provide an objective shorting opportunity when it breaks down bearish. Broke out of very steep downtrend on daily’s oversold. Short term should be more upside than lower lows in this bear market rally.
That’s very bearish when you have a bull breakout turn bearish as I said bitcoin to 1k for now look at my previous posts I called this way earlier.
As I predicted fed gone down to 0%, qe expanded at an unbelievable rate 700 billion 500 billion in repo unbelievably bullish for metals.
If this typical deflationary environment continues where Gold and Silver continue to fall start holding and waiting to buy. Better yet short the market lots of money to be made. When Gold and Silver become bullish definitely buy with the cash you piled up. This deflationary environment flips Gold/Silver will skyrocket especially Silver.
The US economy has a ton of fundamental problems mainly debt, FED. The problem is not coronavirus it is everything below. - FED doing qe buying up bonds because there are no other buyer at these interest rates, this means interest rates should to go up but FED has been holding them artificially low for since around 2000 - FED continues to increase bond and repo...
Some will think it’s the bottom but it will not be. Very strong support on the 11 year bull market trend-line this would be an objective swing trade to go long. However, it will likely break trend I think we are for a 40-60% bear market in dollars / 90% in Gold. I am looking for a dollar bottom between spx 1800-1400.
Remember during last financial crisis Gold/Silver fell. Dropped 33% toward the end of 10 year 659% bull market followed by 178% rise. Except we have much more qe, lower interest rates for longer, going to be higher inflation, worse economy, more government, more bailouts coming. All the problems are much bigger now and Gold is much earlier in the bull market than...
In the short run price action/trend is bearish. We have broken bullish reversed it all and broken below key support. Oil fell through the floor which is good news for Gold Miners because it significantly lowers their cost to mine, oil is way cheaper than in 2016 when GDX peaked at $31 an ounce, simultaneously gold is up around $200 an ounce from 2016 highs. Oil...
Looks to me like we may have seen top for awhile. We still haven't seen a significant trend line break on bull market since 09 until we see that break significantly we can't know for sure. I posted the day of the top that the bond market was flashing a warning signal and that Gold was better anyway. It is possible the FED will manage to prop it up again with cuts...
Despite only a 4% selloff we had a 20% drop in Gold Miners what a gift, based on margin calls. The price action on daily charts is already bullish again. Expecting Cup and Handle to play out.
Gold has remained Strong compared to Silver/Gold miners. I explained that more stimulus and qe was coming. We had a selloff based on margin calls last week.