Good morning,
I want to share my concern with my valued subscribers that today’s employment numbers out of the US -- which saw 2.9 million new jobless claims where the expectation was for 2.5 million -- could tank the market today.
That’s 36.5 million initial jobless claims in just 8 weeks. This is looking more and more like a Great Depression.
I was planning to make a couple of buys of CytoDyn today. But I have decided to delay that, because I honestly think I’ll be able to get it for much cheaper next week.
So for now, I’m getting out of all my positions. I expect the next couple of days to be rough and we'll be able to buy everything back at lower prices next week.
In the interest of a balanced viewpoint, I am obliged to admit that the market has been behaving counter-intuitively as a result of the utter deluge of government quantitative easing.
That's my way of saying I could be wrong. In this world where everything is topsy-turvy, the market could actually go up today.
But I doubt it.
Chances are gold and silver will be the beneficiaries of the market weakness. But they too might dip a bit before heading higher. If I was going to buy anything today, it would be more gold. GLD is a good bet.
All The Best,
James West