Monday, May 19, 2014
Victoria Day news
Apparently the Americans don't celebrate the royal birthday of HRM Queen Elizabeth II, because the markets seem to be open down there today.
Meanwhile we in Canada spend this whole weekend getting drunk and blowing shit up. Real good. Like these guys:
You tell me which is the smarter country.
Anyway, here's the news:
New Deal Demoncrat - weekly indicators. He says there's a tax withholding anomaly. Other than that, the US economic indicators are still fine, so quit being a pussy and buy the damn S&P.
Bonddad - congrats to Bill McBride. I had my money on Calculated Risk, cos Bonddad seems to have a bit of a fixation on coming dooooom. Turns out there was no housing slowdown. So quit being a pussy and buy the damn S&P.
Liz Ann Sonders - again explaining why the tech correction doesn't mean a market top. The explanation is simple: in a low growth environment, growth stocks demanded a premium. If the market thinks the US is transitioning to faster growth, that growth-stock premium disappears, and thus TSLA and DDD take a swandive. If you come across a commentator who is still beating the dead horse of the "small caps/tech warning flag", then either explain it to them or just delete them from your RSS forever. And quit being a pussy and buy the damn S&P.
Mining.com - gold and silver production to hit new records this year. But after that, Metal Focus says gold production will peak and then begin a long decline, per Brent Cook. Which maybe means we get to see that magical $5000 gold someday... as long as gold demand doesn't manage to decline as well.
Reformed Borker (Bork Bork Bork!) - SNL is stealing my material, no really, here's proof. Josh, them stealing your material is just proof that the writing staff at SNL sucks even more than it has throughout history.