Gold and gold miners really doing well recently. Somebody had an interesting tought the other day where their hypothesis is that the exact opposite of what happened in the oil futures market could happen on the long side of the gold market. It's seemingly well known that the paper vastly outweighs the supply of physical gold held by exchanges, so if everyone wants delivery of the physical at contract expiry, there will be delivery problems. The other side to that trade is this has been known for a long time, yet it never happens. A run on physical gold would mean a lot more unforeseen issues, IMO.
Equities are looking rather weak here, still sitting around the 50% retracement and 50-day moving average, which is ~2800 on the S&P. Volume is trailing off, technicals still weighted slightly towards bullish. Not really a good idea to buy into weakness and we're at a point critical point here, but the trend is still marginally higher. Lots of trading on virus news recently instead of economic news.
Equities are looking rather weak here, still sitting around the 50% retracement and 50-day moving average, which is ~2800 on the S&P. Volume is trailing off, technicals still weighted slightly towards bullish. Not really a good idea to buy into weakness and we're at a point critical point here, but the trend is still marginally higher. Lots of trading on virus news recently instead of economic news.
Buy on AliExpress.com
Many of these stocks outperformed most other sectors recently and everybody keeps getting long. MSFT up 40% year over year. Might have to buy some puts.
