Hope everyone noticed what happened with the price of gold last night.
Looks like we are rotating into risk-off which is good for gold stocks. Cryptos also doing well.
I now expect a few words from Trump or the Fed to goose the markets again.
Yesterday was a buy the dip day as I expect Monday will be nice for Aussie gold stocks.
Is the coronavirus a black swan event? Time will tell.
The worse thing about the virus is the incubation period. Can spread without detection.
All commodities are copping a flogging.
If you can time the bottom you may do very well as supply and similar issues still remain.
Not sure who is dumping metals into the LME. Clearly artificial.
70,000 tonnes of copper in a couple of days. WTF.
Could be a miner such as Glencore but more likely JPM, Goldman or similar. Paper trades.
Keep a close eye on who becomes substantial holders of quality base metal miners.
Chart suggests holders are giving up on holding out for higher stock prices.
Things should change on Monday but the chart may not reflect that for a few days.
