Loading ...Hope that’s all it is. It’s so hard to prepare for these type of beatdowns, they really come out of nowhere and turn good charts into bearish charts overnight. Gold and silver are still well above their moving averages, but have a long way to go now in recovering from the smash of a couple of weeks ago that stopped the bull in its tracks.
I’m not seeing big volume in any of our pm plays, just relentless selling. GFI and GOLD come out with earnings tomorrow, a couple of heavyweights, so I’m wondering if there’s some shenanigans going on there, especially with GFI down 8.6%?? Seems maybe that’s worth a shot. These shares are not even close to reflecting the prices of the metals, they should be much higher. Such is the life of pm holders I guess.
At least the SM and Bitcoin are tanking too. Bitcoin and all the crypto’s really taking it on the chin. Oil now down too.
Economic numbers today were absolutely horrible. Chicago PMI came in at 37.9 vs. estimates of 45 – I’ve never seen it that low. This economy is really tanking if that’s any indication of the rest of the country.
Something wicked this way comes. I feel like we’re on the verge of something really ugly in this country.