Having already taken my most bearish overall position in my 40+ year career in and around the financial arena, the historical event yesterday has put me in full crisis mode.
Very Brief Markets Recap:
U.S. Stock Market – While I apparently missed a shorting opportunity I waited years for at above 40,000 on the DJIA, the loss of 2,000 DJIA points in just a handful of trading sessions, is even more reasons to maintain my extreme bearish stance towards general equities (not related to metals and mining).
U.S. Bonds – Lesser of two evils, but no longer the “next-to-sure-thing” they once were. I personally hold just T-Bills and CDs. none with longer then 2-year durations.
Precious and Base Metals – While significant higher prices over time is still my target, the percentage gains we already saw up until now, are not likely to be equaled or surpassed in the next leg up. It should also take longer than before. Copper eventually north of $5, Gold above my long-time target of $2,536 and Silver between $35-$40.
Mining Shares and Junior Resource Stocks – The brutal bear market ending has occurred and the decade+ overall bear market – ADIOS! Simply put, I am:
I will be attending and speaking at my first conference in over 10 years, June 3rd until the 7th. There will be very limited Tweets and no blog posts or YouTube videos during that time.
I hope to see some of you at the 52nd New Jersey Irish Festival at Monmouth Park on June 9th.
My best advice going forward from this day:
