Loading ...The SM futures are looking ugly at the moment. AMZN & INTC laid eggs on earnings, AMZN down 8% and INTC down almost 20% in the premarket. Intel looks like a mining stock. I remember in the late 90’s, early 2000s INTC was THE big chipmaker and moved the entire market. AMZN is probably more important now, but bad earnings from them screams recession, but we know it’s a depression.
The dollar is flat. 10 yr. down to 3.94% and low and behold even Bitcoin is down 2%.
The big surprise is that PM’s are gaining back what they lost yesterday, gold is getting more than it lost. So, the old school plays of oil, gold and silver are getting some attention. The money has to go somewhere besides bonds right?
PM shares look strong right now too, even EXK and AG are bouncing.
We still have to get through a jobs report, so nothing guaranteed, but London is either unwilling or unable to stem the flow into pm’s as of now.
The best world we could possibly hope for is a tanking SM and rising pm’s. Fingers crossed.