Thu, 8 October 2020
Last time Chris was bearish on the stock market. Big money is moving into defensive stocks. We saw utlities blast off earlier in the year. Money could be rotating out of tech. Can’t buck the Tesla trend. Covid is good for Tesla. People don’t drive as much and don’t need long range. Gold and silver short term down trend. Lower highs and lower lows, trying to find a bottom. If we have stock market weakness or dollar strength, with a downside target of $1810 and silver could slip to $21. Long term bullish. Good time to get it. A bear market in equties could lead to a correction in the sector. Metals and miners will be the first to rally after the bottom.
Dollar has been weak, yesterday dollar and bonds rallied. Dollar will probably hold its ground. Could have a bounce. Dollar and metals could move up together. Rest of the world keeps moving into equties, which will pump up the dollar. No matter how much stimulus comes, the dollar is the beneficiary. Interest Rates bonds can’t go much higher. It’s been a 30 year rally. The trust and the returns just aren’t there. Not much interest. Bull can’t continue much. Any hope for the oil market. Decline of driving has slammed it. Lockdowns taking place, there’s no demand and way too much supply. Companies are losing money at these prices. Energy stocks have been underperforming. |
Thu, 8 October 2020
Danielle DiMartino Booth is a global thought leader on monetary policy, economics and finance. Among her varied career milestones, she’s been a full-time columnist for Bloomberg View, a business speaker, and a commentator frequently featured on CNBC, Bloomberg, Fox News, Fox Business News, BNN Bloomberg, Yahoo Finance and other major media outlets. Before starting Quill Intelligence in 2018, she spent nine years at the Federal Reserve Bank of Dallas. Danielle served as Advisor to President Richard W. Fisher throughout the financial crisis until his retirement in March 2015. Her work at the Fed focused on financial stability and the efficacy of unconventional monetary policy. |
