Good late afternoon friends.
Big trouble lies beneath this "laboring" stock market. Trouble that usually spells we have seen a market top..(as called in early January, above 26,000. Mind you, and I state repeatedly "THE PLUNGE PROTECTION TEAM" and the PRES. will try desperately to keep this market propped up. Expect rallies like today to feebly retake 25,000 even struggle toward 26,000.
Let's look at some evidence of where we are headed and why we feel your money is better placed elswhere, especially if you took Statman's advice in January or stayed with the market back up to 25,000 (on the Buy, April 13th).
The thirty year mortgage is now the highest in 8 years. chart:kwn.com and Reuters.
The CRB INDEX of commodity prices is now the highest since 2015, and all but certain to continue to rise.
See the shocker in lumber prices above.
And NOW, the "kicker":The number of people in line now to REFINANCE at the higher rates is the lowest since 2000. WE are in a bubble that will break now if it hasn't starter. Fuel, interest rates, transportation costs surging, and a dollar due to weaken shortly. My guess it resumes its downward spiral by fall. Oh yes, interest rates? The Chinese have lowered our debt rating to BBB+. We will pay them dearly to buy our treasuries. They don't want them! They want and own all the gold they can get. (And the Russians.)
This bodes well, real well for the precious metals. Do NOT be lulled to sleep by the EXPECTED weakness right now. Take advantage of it. Be very wise. SENTIMENT is picking up and the train is due in around mid summer!!
Thanks you as always for your support. YOU will here on this BLOG what CNN won't tell you.
UPVOTE<FOLLOW<RESTEEM. And as always, due YOUR OWN due diligence, the opinions above are mine.