so - what a be-ewdiful set up is emerging for gold/silver. the question will be how do gold/silver equities react
- BLS puts out an obviously rigged NFP number. I'd been pointing out on svl thread last year that no one ever reported on Trump putting his own lackey in to run the BLS when the mainstream media were banging on about him appointing hatchet men lackeys to oversee and dismantle the EPA and other govt oversight functions. damn lies and statistics
you know the fish smell isnt just the wrapping paper when even the alt right pro trumpers at zerohedge are calling out the obviousness of the fabrications..... read the part on dentists
https://www.zerohedge.com/markets/bls-admits-survey-error-may-have-reduced-unemployment-rate-3- and yet, despite V shaped narrative and NFP 'proof' Trump says he;s going to push Congress to print more money - as they say, always follow the money
- triggering a fomo/short squeeze melt up in stocks
- all the while - going completely unremarked - US covid daily case count just hit 28,000 again - suggesting I was right and US isnt just going to get a wave 2 - but that wave 1 is going to have a phase 2. There's every chance that US covid case count will go back into the 30k+ daily average because they re-opened at precisely the wrong time
https://www.worldometers.info/coronavirus/- at the same time this month marks the shift from net positive liquidity to net negative liquidity - as US bond repurchases fall while bond issuance (to pay for $us2.6T 3 month helicopter money in CARES act) rises massively. Stan druckenmiller says net liquidity is the single most important factor for stock market action.
- all this while
https://www.frbatlanta.org/cqer/research/gdpnow atlanta fed's gdp now tracker is forecasting -54% 2nd quarter US GDP
- so you've got all the ingredients for massive market selloff post a fomo/short squeeze manic high over next 2-3 trading days
gold is massively overbought technically - so it could do with a further few weeks of falls - silver not as much but it will follow gold to lesser degree
after which the rip higher will be explosive imo
the question will be whether PM miner equities go down with the market like March - or up with gold/silver when it rips
all to play for here. v exciting times
(20min delay)