PM Daily Market Commentary – 08/03/2020

Login or register to post comments Last Post 0 reads   15 posts
Viewing 5 posts - 11 through 15 (of 15 total)
  • Tue, Aug 04, 2020 - 08:09am

    #11

    Jim H

    Status Bronze Member (Offline)

    Joined: Jun 08 2009

    Posts: 1190

    count placeholder5+

    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

    #12

    JAG

    Status Gold Member (Offline)

    Joined: Oct 26 2008

    Posts: 501

    count placeholder

    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

    #13

    sand_puppy

    Status Platinum Member (Offline)

    Joined: Apr 13 2011

    Posts: 2410

    count placeholder6+

    PM Daily Market Commentary – 08/03/2020

  • Tue, Aug 04, 2020 - 08:31am

    #14

    JAG

    Status Gold Member (Offline)

    Joined: Oct 26 2008

    Posts: 501

    count placeholder2+

    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

    #15

    davefairtex

    Status Member (Offline)

    Joined: Sep 03 2008

    Posts: 2138

    count placeholder2+

    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.

https://www.bnnbloomberg.ca/gold-surges-to-record-on-signs-of-progress-for-new-u-s-stimulus-1.1475266

Viewing 5 posts - 11 through 15 (of 15 total)

Login or Register to post comments