PM Daily Market Commentary – 08/03/2020

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  • Tue, Aug 04, 2020 - 08:09am


    Jim H

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    I am wearing my Gold $2000 hat!

Recall that I had to change the name on my Silver $20 hat and add two zeros because I got so little use out it… Silver blew through $20 in less than a day.  $2000 Gold is a major psychological milestone for this asset few people hold.  There will be headlines.

If I remember correctly from the calculations I did years ago, if all above ground Gold were split evenly by all the people on earth, there would be less than one ounce per person.

  • Tue, Aug 04, 2020 - 08:11am



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    Go Banksters!

Thanks for the bond info DF.

I’m went full contrarian this morning and bought my first XLF call option. It’s a long contract (Jan 2022) and moderately out of the money.

I had to have a little exposure to equities and XLF call options are super cheap (for good reason). I figure eventually the tech stocks will falter and I hope some of those profits will rotate into bank stocks over the next year.

I know you just love the banksters so I had to share.

Edit: Fixed date

  • Tue, Aug 04, 2020 - 08:17am



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    PM Daily Market Commentary – 08/03/2020

  • Tue, Aug 04, 2020 - 08:31am



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    Inflation Index by City

I found this pretty cool inflation index called the Chapwood Index.

They use real world prices submitted by real people in various cities to track price inflation.

The highest years inflation rates seem to be in the big cities on the east and west coasts. If you live in these cities have to make 10-12%/year on your savings just to break even. Holy cow!


  • Tue, Aug 04, 2020 - 11:38am



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    silver & gold pop

My reading of the tea leaves – really just news reports – looks like increased chances of more free money from the government.

My guess: Pelosi walked away, did some polling, saw she looked bad, and came back to the table.  My guess with less leverage.

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