Can Tesla keep going up and up and up? Love the car, hate the stock. The stock has gone into full blown Ludicrous Mode. Musk has advised people not to buy the stock even though it comprises most of his net worth. Seems like hedge funds have gone into hyper hypothication. There’s no tolerance for anyone with a bearish contrarian view. Seems like the laws of financial gravity have been repealed. Now it’s what goes up will keep going up and up forever. 

Direct download: Danielle_Park_15.Jan.20.mp3
Category:general -- posted at: 8:00am EDT

Tesla just broke $500 per share. The Tesla fan boys believe it's headed to infinity. Does that sound familiar? They're probably the same people who were buying Bitcoin at $19000 and look where they are now. One constant in investing is that the tree does not grow to the sky. According to Nick Santiago, Tesla will hit $542-3 and then dive. That's not to say it's not a great company and it's plans for world dominance won't eventually succeed. Just don't bet all of your IRA or 401k on it, especially at these lofty levels. People who invest at the top of a parabolic move, inevitably wind up falling off a cliff. 

Direct download: John_Rubino_14.Jan.20.mp3
Category:general -- posted at: 8:01am EDT

When the music stops someone is going to be left without a seat. Don’t let it be you! Watchout for the high volume reversal day. If you look at the S&P 500, the volume in the SPY’s (SPDR - Spider)has been light. When it breaks 100 million shares on a big down day, look out below. Everyting has been going Trump’s way - a real Teflon Don. People are becoming immune to the political stunts. But there are bigger underlying problem ahead. Coming to us from Europe and Japan. Negative interest rates are toxic. Nick is looking for continued gold consolidationin early 2020, but it will be going higher later in the later in year into 2021. The longer the sideways trend continues, the higher gold will go. The skies the limit. Silver is always the red-headed step child. The mining stocks will follow. 

P.S. Watch out for Tesla. It's on a parabolic move until it breaks $542-543. Buy a Tesla and get some free tulip. 

Direct download: Nick_Santiago_14.Jan.20.mp3
Category:general -- posted at: 8:00am EDT

Aaron Clarey has appeared on the show a number times. He's a keen observer of modern life and has in fact made an excellent living off of his combination of charm and tough love. He breakthrough moment was when realized that the Millennial Generation was helpless and A-Hole Consulting was born. Now his new book How Not to be a Millennial is sure to be a major success. The process is very simple, don't get into debt, don't get a useless major and don't follow the boomers. Hopefully some of this hapless generation can be saved. 

Direct download: Aaron_Clarey_13.Jan.20.mp3
Category:general -- posted at: 8:01am EDT

The Bloomberg financed Virginia Legislature has been full-tilt Mad Max on the legimate gun owners of the state. It has led to a state of near insurrection with county sheriffs refusing to enforce any laws deemed violative of the 2nd Amendment. Counties, cities and states are proclaiming themselves 2nd Amendment sanctuaries. Where will it end? Will the State lock up sheriffs and call out the National Guard? Will there be a federal response from President Trump? All questions to be answered. 

Direct download: John_Lott_13.Jan.20.mp3
Category:general -- posted at: 8:00am EDT

President Trump did the unthinkable, he terminated General Soleimani with extreme prejudice. Our view is good riddance. The late General was a terroristic homicidal maniac with a thirst for blood. While it's very easy to fall for the moral equivalency trap, his elimination was removal of a blight on humanity. There are rules of war which the United States has routinely violated, no doubt. Wars have been fought under very specious grounds that have resulted in mass casualties. However, to our knowledge, our generals have not eliminated thousands of potential domestic adversaries or engaged in heinous civilian attacks that have no military purpose, other than to instill terror among civilians. In short, even a guilty criminal can commit acts of justifiable homicide, of which this was surely one. While the world might not be a better place for the General's passing, it surely is not a worse place either. 

Direct download: Frank_Vernuccio_10.Jan.20.mp3
Category:general -- posted at: 8:01am EDT

Stocks are roaring to begin 2020.

All three of the major averages are off to a strong start to the new year, trading higher by at least 0.5 percent, with the Nasdaq Composite and S&P 500 reaching fresh highs. The early gains come on the heels of the People's Bank of China saying it would cut its reserve requirement ratio by 50 basis points, lowering the amount of money banks are required to keep on hand.

The benchmark S&P gained 28.9 percent last year while the Dow Jones Industrial Average and Nasdaq Composite rallied 35.2 percent and 22.3 percent, respectively.


Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 28714.17 +175.73 +0.62%
SP500 S&P 500 3249.19 +18.41 +0.57%
I:COMP NASDAQ COMPOSITE INDEX 9060.195978 +87.59 +0.98%

Apple shares hit a record high, and are closing in on the $300 level.

Elsewhere, Boeing gained despite Reuters reporting rival Airbus delivered a record 863 aircraft in 2019, making it the top planemaker for the year.

Ford was little changed after receiving a downgrade at Evercore. The firm cut its rating on the automaker to "underperform," citing its high valuation.


Ticker Security Last Change Change %
AAPL APPLE INC. 297.88 +4.23 +1.44%
BA BOEING COMPANY 328.19 +2.43 +0.75%
F FORD MOTOR COMPANY 9.26 -0.04 -0.43%

Looking at deals, Anixter International accepted a $93.50 a share in cash offer from Clayton Dubilier & Rice LLC. The deal, which values Anixter at about $4.3 billion, comes after Wesco last month offered $93.50 a share in cash and stock.


Ticker Security Last Change Change %
AXE ANIXTER INTL 94.30 +2.20 +2.39%
WCC WESCO INTL 59.49 +0.10 +0.17%

On the commodities front, gold was up 0.5 percent at $1,530 an ounce and West Texas Intermediate crude oil was higher by 0.2 percent at $61.16 a barrel.

U.S. Treasurys gained slightly, pushing the yield on the 10-year note down almost 2 basis points to 1.89 percent.

In Europe, France's CAC 40 rose 1.3 percent while Germany's DAX and Britain's FTSE both added 1 percent.

Overnight, Hong Kong's Hang Seng jumped 1.1 percent and China's Shanghai Composite

Direct download: Eddie_Ghabour_09.Jan.20.mp3
Category:general -- posted at: 8:00am EDT

In 2019 Craig Hemke made the most accurate gold call of any analyst out there. He said that the Fed would be cutting rates in September, he was two months late. Best of all, the gold price acted as he forecast. Fed debt is increasing geometrically with no end in sight. Where will that leave gold and the dollar? Right now gold is in the mid 1550’s, with more increases on the way. It’s all connected with the Repo melt-down and QE4. The deficit isn’t going away, the only way it can be paid is by direct monetization, which is well underway. The Fed was late releasing it's latest meeting minutes, where they admitted that if the risk of liquidity continues they’ll be increasing monetization to shorter duration of securities. Anyone can see it happening before our very eyes.  Click here to get Craig's free report... 

Direct download: Craig_Hemke_09.Jan.20.mp3
Category:general -- posted at: 8:01am EDT

Did the Fed dump $150 billion into the markets to keep the market going higher. Stocks truly are climbining on a wall of worry. Stocks are still on an upward trajectory until further notice. Fears of war seem to disapate within hours. The current war element will be adding another dimension to trading. Traders will be more jittery and more apt to dump stocks at the first sign of hosilities. Kind of like shorting Tesla, oops. And yes you can still compete with the algos. There’s plenty of plays out there for the astute. 

Direct download: Chris_Vermeulen_08.Jan.20.mp3
Category:general -- posted at: 8:00am EDT

They’ve gone too far. Virginia wants to ban semi-automatic weapons, indoor shooting ranges and even martial arts training. The people have had it and now there’s a demonstration set where over 1 million people are going to attend. Talk of calling out the National Guard or the police is absurd. We also talked extensively about proper defensive actions to take during a church shooting. Don’t be a fish in a barrel. Have your exit strategy in place. A moving target is always harder to hit. It always helps to have a plan. 

Direct download: George_Matheis_07.Jan.20.mp3
Category:general -- posted at: 8:01am EDT


2019 was an outstanding year for stock market appreciation. What will 2020 bring? Jim believes that the 1st quarter is going to be slow growth since the China deal won’t kick in right away. Then there’s the seasonal factors, where Q1 is usually the slowest of the year. And of course, profits weren’t up last year, only PE ratios. Can that happen again? What’s your prediction, where do you see the market heading. Let us know. 

Direct download: Jim_Welsh_07.Jan.20.mp3
Category:general -- posted at: 8:00am EDT

Just when you thought it was safe to short Tesla, the Middle East blows up. The US does a targeted assassination of Iran’s number 2 and it’s off to the races. Gold took off and blasted through the pesky $1550 resistance point. While metals have pulled back they’re still well ahead. The big question is how much more abuse can the global financial system take? With debt levels continuing to escalate, we could be reaching that tipping point. However, we’ve been here before. And what about Brexit? No one really knows. But John thinks they can make it on their own without the EU. 

Direct download: John_Rubino_06.Jan.20.mp3
Category:general -- posted at: 8:01am EDT

Following the headline decline for Conference Board Consumer Confidence in November, analysts are expecting an exuberant bounce in December as every asset class rose majestically (despite retail sales slowing).

But, despite record high stocks, the headline consumer confidence data disappointed, printing 126.5 (down from the upwardly revised 126.8) and well below the hopeful 128.5 expected.

While the Present Situation picked up modestly, the Future Outlook weakened:

  • Present situation confidence rose to 170.0 vs 166.6 last month

  • Consumer confidence expectations fell to 97.4 vs 100.3 last month

Direct download: Brad_Williams_06.Jan.20.mp3
Category:general -- posted at: 8:00am EDT

US Stock Markets posted a banner year finishing December with NASDAQ up 3.6% in December and 35% for the year. Foreign markets followed suit but were up by much less. Dollar was down for December but pretty much flat for the year. Same with the Euro, showing a small decline of 2.2% on the year. Interest rates on the 10 year were down by 29%. Bitcoin, the big winner was up nearly 94%. Gold and Silver were up for the month and finished 18% and 15% respectively. Platinum broke out of its triple bottom finishing the year ahead 21.4%. Palladium was the big winner for the metals finishing up 53.5% in 19. Copper finished they year 2.7% in the black. WTI and Brent turned bullish finishing up over 40%. Natgas was a loser yet again finishing out the year with a 25.5% loss. Uranium finished in the red by 13%.Ratios are looking interesting with Au:Ag at 85, Pt:AU .65, Pt:Pd .5, BRT:WTI 1.12, WTI:HH 27.88 and AU:WTI 24.86. What a year. Look for a breakout in gold during Q1. Some type of bounce for Natgas/HH could come with colder weather in the Northeast. That's it for 2019. Onwards and upwards for 2020!

DJIA 12/31/19 28538 1.7% 6.0% 7.3% 22.3%
S&P 500 12/31/19 3231 2.9% 2.9% 8.5% 28.9%
NASDAQ 12/31/19 8973 3.6% 12.2% 12.1% 35.2%
RUS 2000 12/31/19 1668 2.6% 9.5% 3.7% 23.6%
TSX 12/31/19 17063 0.1% 2.4% 4.2% 19.1%
TSX.V 12/31/19 578 8.6% 3.4% -1.2% 3.8%
MCSI 12/31/19 1115 7.2% 11.4% 5.7% 15.4%
VIX 12/31/19 13.75        
DXY 12/31/19 96.50 -1.8% -2.9% 0.3% 0.3%
EURO 12/31/19 1.12 1.7% 2.8% -1.4% -2.2%
10 Year 12/31/19 1.92 7.9% 14.3% -4.0% -28.6%
Bitcoin 12/31/19 7150 -7.2% -13.5% -42.0% 93.8%
Au 12/31/19 1518 3.7% 3.1% 7.7% 18.4%
Ag 12/31/19 17.84 4.9% 5.1% 16.8% 15.3%
Pt 12/31/19 964 7.8% 9.7% 15.6% 21.4%
Pd 12/31/19 1922 5.5% 16.1% 26.8% 53.5%
Cu 12/31/19 2.79 5.2% 7.5% 3.1% 2.7%
WTI 12/31/19 61.06 10.2% 12.9% 4.9% 34.5%
Brent 12/31/19 68.38 9.5% 12.5% 2.7% 30.8%
Henry Hub 12/31/19 2.19 -3.9% -6.0% -5.6% -25.5%
U308 12/31/19 24.95 -3.8% -2.2% 1.5% -13.1%
Ratios Au : Ag Pt : Au Pt : Pd BRT : WTI WTI : HH AU:WTI
  85.09 0.64 0.50 1.12 27.88 24.86
Direct download: Mickey_Fulp_02.Jan.20.mp3
Category:general -- posted at: 8:00am EDT

The numbers: Americans increased spending in November at the fastest rate in four months, suggesting households still have plenty of buying power to keep the economy growing at a steady pace through the holiday shopping season. 

Consumer spending rose 0.4% last month, the government said Friday. That’s the biggest increase since July and it matched the MarketWatch forecast.

The cost of goods and services also increased slightly in November, but inflation more broadly was still quite low.

The so-called PCE price index rose 0.2% last month to push the yearly rate of inflation up a tick to 1.5%. That’s still well below the Federal Reserve’s 2% inflation target, however. 

What happened: Households bought more cars and trucks in November. They also spent more on health care, government figures showed.

Steadily rising incomes — a byproduct of the strongest labor market in decades — have made it easier for households to spend. Incomes climbed a solid 0.5% last month, rebounding from a flat reading in October that economists viewed as an anomaly.

Consumers were also able to pocket some more savings. The savings rate edged up to 7.9% from 7.8%.

The broad increase in consumer spending last month told a somewhat different picture than a narrower survey of how much Americans spent at retail stores. Retail sales appeared somewhat soft, but it might have stemmed from a late Thanksgiving holiday that pushed Black Monday into December.

If so, retail sales should be stronger in December than would usually be the case.

Meanwhile, another inflation bellwether in the report, known as core PCE, edged up 0.1% last month. It’s risen just 1.6% in the past 12 months. 

The core rate strips out food and energy prices since they tend to swing more sharply than the cost of other goods and services.

Big picture: Strong consumer spending has kept the economy expanding for a record 11th straight year, but it hasn’t been enough to offset the drag from weaker business investment. U.S. growth in 2019 has slowed after hitting a 13-year peak in 2018. 

Slower growth is expected to persist into early 2020, but the odds of recession are seen as very low. 

Market reaction:The Dow Jones Industrial Average DJIA, +0.41% and S&P 500 SPX, +0.56% rose slightly in Friday trades. The 10-year Treasury yield TMUBMUSD10Y, -0.08% was unchanged at 1.93%.


Direct download: John_Grace_02.Jan.20.mp3
Category:general -- posted at: 8:00am EDT

Everything is coming up roses for Donald Trump, impeachment is a major non-event. Yet there are still things that can bring him down. A stock market collapse, a credit collapse or a geo-political event that kills the economy. Junk bonds are now booming, a late cycle event that is a portent of things to come. Another even more important development in the credit market is the total prostitution of the rating agencies, just like  the early 2000’s. As the saying goes, We’ve learned nothing and forgotten nothing. 

Direct download: John_Rubino_31.Dec.19.mp3
Category:general -- posted at: 8:00am EDT





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