sp'weekly6
Summary
*a notable blue candle to start the week. Underlying MACD (green bar histogram) is ticking upward, and that will probably remain the case into mid March.
--
I've little else to say on the markets today. Instead, I wanted to highlight a couple of posters whom I really shouldn't be surprised about... but I am.
A few weeks ago I noticed 'Miningbookguy' via a retweet. I checked the related youtube channel, saw a few interesting vlogs, with some chatter on a few books and the movie 'the big short'.
I'm always interested in any talk related to the mining stocks, but after all these years, I'm always wary of anyone who actually highlights them.
Anyway, I decided to say hello to MBG...
Just a few days later... the very next video to appear.......
MBG was touting none other than a micro cap miner, with one of the lousiest balance sheets I've seen in a long while.
Worse still... look at the keywords...
Its THAT kind of nonsense I find utterly contemptible.
--
Next up... the infamous 'Red Dragon Leo'. RDL is one of the kooks I've followed for a fair few years, but this latest crap goes way beyond the usual weirdness I see him post....
Ohh, so a crash has now been 'confirmed'.. but hey.. it gets even better... you can learn to double your money every month!
If you have at least sixth grade math, you should know with that degree of exponential increase, after 30 months you'll be able to buy much of the planet.
... but it gets worse... way.... way worse...
RDL is promoting a video about trading software/support for $195 a month. For that price, I'd expect them to send me at least 1/5th an oz' of Gold per month!
.. but then the ultimate...........
Ahh yes, its the old pyramid selling scheme.. the stuff of Amway or Herbalife.... etc.
--
If you're out there MBG or RDL... you're way past the line with this latest crap. You both seem kinda nice people, but you're just reverting to some seriously dubious behaviour. Maybe I'm just overly hopeful to think this kind of nonsense had largely ceased?
--
Looking ahead
Wednesday will see housing starts, PPI, and indust' prod'. The latest FOMC minutes will be issued at 2pm.
*Fed official Bullard - the bane of the equity bears (remember Oct'2014?), is set to speak after the close, and that will likely influence the Thursday open.
--
I'll end the day with a chart: GLD, daily
No doubt many of the gold bugs will be rattled at the ongoing cooling from last Thursday, but its to be expected. First gap zone has been filled, red zone will doubtless be hit. If the 200dma were hit, it'd be an overly big retrace, and be suggestive that Gold - and the related mining stocks, have yet to see a multi-year floor.
*bonus video* : Schiff on Gold
--
Goodnight from London