With the price of gold surging $20, here is a look at the US dollar and gold, plus look at this manic trading!
US Dollar Troubles But Not For Gold
June 9 (King World News) – Alasdair Macleod: The onset of depression is becoming visible with funds leaving the USD to return home where they are more needed instead of sitting in dollar cash and securities to back up international trade that’s not going to happen. 1930s rerun with collapsing fiat money instead of gold…
Legendary investors are buying share of a company very few people know about. To find out which company CLICK HERE OR ON THE IMAGE BELOW.
Peter Boockvar: It’s great that Vegas is open again but who needs it when you have the stock market instead. With its June 15th 2021 bond trading between 3-4 cents on the dollar over the past week, Chesapeake Energy’s stock, the bottom of the cap structure hierarchy, closed last Thursday $14.05, Friday at $24.80 and yesterday at $69.9.
A Look At Manic Trading
Chesapeake Skyrockets From $14 To $70 In 2 Days!
That was followed by chapter 11 plans after the close. JC Penney, already in bankruptcy proceedings, traded up by 55% on Friday and 96% yesterday.
JC Penney Skyrockets 55% & 96% In 2 Days!
Hertz was $.81 last Wednesday only to close up 582% in the following 3 days to $5.53.
Hertz Goes From 81 Cents To $5.53 In 3 Days!
More Manic Trading
Here is what some other energy stocks did yesterday: XTEG up 150%, Noble Corp up 161%, Whiting Petroleum higher by 152% and Denbury Resources higher by 106%.
High On QE
Bottom line, after an incredible run since March, we now have clear froth in parts of the market. We know this level of speculation has coincided with a sharp increase in the activity of retail investors. It has also been encouraged by a zero rate/unlimited QE environment. Keep in mind, that QE money doesn’t end up directly in the stock market but when interest rates are suppressed, it is meant to stimulate speculative behavior. As Glenn Frey once sang in ‘Smugglers Blues’, “It’s the lure of easy money, It’s got a very strong appeal.”
***To listen to Rob Arnott discuss what he expects to see for the rest of 2020 in global markets click here or on the image below.
Fed’s Parabolic QE
***Also Released: Look At The Fed’s Parabolic QE CLICK HERE.
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