Tag Archives: markets

As the market continues to seek out its maximum stupid price limit, it’s now decision time for investors.

If you’re still long stocks and bonds at this point: Do you now sell to protect your gains?

If you’re skeptical of today’s prices and sitting in cash: Is now the right time to start shorting the market?

If you’ve recently been laid off: Do any of the new options offered by the CARES Act that enable you to access retirement funds without penalty make sense for you?

With markets this overextended, your window of time to take action will likely be quite brief.

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Last week’s observed bearish engulfing has so far proved a non-event as the markets continue to reach maximum stupid heights lifted by Jerome Powell’s recent soothing remarks to the nation on 60 Minutes.

The trouble is, so much of what Powell said in that interview just isn’t true.

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Back in mid-January, Grant Williams, Mike Maloney, Charles Hugh Smith, Chris Martenson and I sat down for an in-depth discussion on the dangerous distortions to financial markets and the global economy that central bank intervention is causing.

So, if this group of experts was highly concerned about systemic risk pre-coronavirus, what are they thinking now?

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Despite market prices remaining at maximum stupid heights, we’ve seen some notable weakness, volatility and a rare ‘bearish engulfing’ this week.

All of these are advance indicators we would expect to see preceding a fall in prices.

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Since rebounding sharply from the March lows, the markets have re-entered a manic melt-up phase where no news is so terrible it can’t send prices higher.

The NASDAQ is green on the year now, for crying out loud. How is that even possible since, between then and now, GDP has fallen by 30%???

In an attempt to understand these increasingly non-sensical markets, we’ve once again asked the lead partners at New Harbor Financial, Peak Prosperity’s endorsed financial advisor, for their latest perspective.

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The disconnect between the accelerating economic damage caused by covid-19 and the reckless exuberance seen in the stock and bond markets is crazy-making at this point.

Prices have been steadily marching upwards in defiance of the ugly data. And in Big Tech, companies are now more overvalued than they were before the pandemic hit.

How, pray tell, can you even pretend to justify these companies trading near the same prices as they did three months ago — after 30 million Americans have been laid off, GDP is contracting the largest rate in history, and household and corporate budgets are being slashed?

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As more data pours in showing the severe and worsening contraction of the global economy due to the impact of covid-19, it’s becoming increasingly clear that the only thing propping up today’s financial markets is the $trillions in rescue stimulus promised by governments across the globe.

Bloomberg estimates that flood to be in the range of $8 trillion — and counting.

Will it be enough?

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