The Ecstasy, The Agony and Back It is hard to believe that only fifty days have passed since the S&P 500 posted a record high of 3393.52. As of this past Thursday the index closed at 2789.82, down 18% on the year and up 28% from its March 23, low of 2191.86. Needless to say,…
Tag: gold
A postcard from the bunker
Hunkered Down As I write this post I am hunkered down in the Kort family bunker, deep below the towering McMansions of Leawood, Kansas. Present are my wife, daughter and granddaughter and a fair supply of provisions, including toilet paper. We are some of the lucky ones. My tongue-in-cheek intro does absolutely not mean to…
Coronavirus continues its reign of terror
— COVID-2019 fears continue to dominate the market. — It is very hard to square the terror that surfaced Friday in bonds and gold with the evidence at hand. — Will coronavirus just be another obsession that falls by the wayside in the secular bull market? The S&P 500 is just 1.7% from a new…
Flight to Safety: “All that glitters is not gold!” — William Shakespeare
A Retraction Before getting into the meat of this post covering the last ten years of ‘Flights to Safety’ and gold as a flight-to-safety asset, I need to take back all the nice things I said about Barron’s last week because they went back to the dark side this week (“The Dow Celebrates Five Weeks…
Inciting Bad Behavior
“Did you hear about the NATO plane downed by the Russians? No! Markets are a mess. Everyone is selling or, at least, trying to, if their broker is up and running!” The speaker of these lines (a young professional woman) in an ad CNBC runs for Interactive Brokers goes on to ask her dinner date to excuse…
Selling Climax, Please!
Just when I thought we were about to see the final washout, the purge of all the excesses of the last five years, a real ‘selling climax’, they yanked the rug out from under me again last Thursday afternoon.Then, again, Wednesday and Thursday of last week may have been a feeble, but effective end to…
What’s good for the goose is good for the gander
The other day I came across an article in MarketWatch that was trending number one on its “most popular” list (“Peter Schiff, more bullish than ever, sees gold heading to $5000 an oz.”) — (close 5/15/15@ $1223/0z.). The fact the author, Myra P. Seafong, chose to write on this is amazing. Even more jaw-dropping is…