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December 5, 2019 | France Grinds to a Halt in Massive Strike

Hundreds of thousands of lawyers, teachers, students and air-traffic controllers protest pension Macron’s pension reform Cities Paralyzed French president Emmanuel macron is back in the hot seat over reform proposals. Over 800,000 protesters have taken to the streets in a Massive Strike that has paralyzed cities. Cities across France were paralyzed by a massive public transport strike […]

December 5, 2019 | Is a Local Top in Gold At Hand?

In yesterday’s analysis on gold price in December 2019, we wrote that while the outlook for the yellow metal for the following months was bearish, it was bullish for the short term. And indeed – gold, silver, and mining stocks rallied. In fact, the rally continues in today’s pre-market session. As it’s happening even without […]

December 5, 2019 | High Yield Bond and Transports Signal Gold Buy Signal

Technical Analysis is the theory that price relates all news, fundamental and correlative future expectations into current and recent price activity.  It is the theory that price is the ultimate indicator and that charts paint a very clear picture for those individuals that are capable of understanding the message that is being presented. In this […]

December 4, 2019 | Conspiracy Against Trump

QUESTION: Are you familiar with Qanon and if so what are your thoughts. KJF ANSWER: No I do not believe it. That is a conspiracy theory that there is a worldwide cabal of Satan-worshiping pedophiles who rule the world, essentially, and they control everything. They control politicians, and they control the media. They control Hollywood, and they […]

December 4, 2019 | Gilded Age Redux: Bank Vault Exclusively for Billionaires

A new bank vault in a grade-II listed gothic mansion built in 1899 for soap magnate Robert William Hudson, will have more of the feel of an “exclusive private members club than a bank” next to the Dorchester Hotel on London’s Park Lane will open for business next week. “We won’t deal with millionaires,” says Sean […]

December 4, 2019 | The slathering

Why do big-city houses cost so much and rents are bonkers? Yeah, mortgages are too cheap and house lust too strong. But as big a reason as any comes packaged in one word: investors. Half all new condos and four in ten existing ones have been snapped up by people with no intention of living […]

December 4, 2019 | 7 Year Cycles Can Be Powerful And Gold Just Started One

Our research and predictive modeling systems have nailed Gold over the past 15+ months.  We expected Gold to rally above $1750 before the end of this year, but the global trade wars and news cycles stalled the rally in Gold over the past 2 months.  Now, it appears Gold is poised for another rally pushing […]

December 3, 2019 | 2020 Elections to be the Most Violent

QUESTION: The more I read that Trump’s opponents will resort to violence, I am amazed at your computer and how it has been putting all this together years in advance. Are we just pre-programmed somehow? KF ANSWER: I do not think it is the people who are pre-programmed. It seems to me that government inevitably […]

December 3, 2019 | How Far Will Gold Reach Before the Upcoming Reversal?

Just when most traders thought that the previous week is going to end in the red for gold, something exceptional happened. The USD Index reversed after rallying, and gold rallied sharply in response. In the end, gold ended the week in the green by forming a clear weekly reversal. That was actually the second weekly […]

December 3, 2019 | Hoisington Third Quarter Review worth reading

Hoisington Investment Management’s always insightful Q3 2019 review, can be read here. As shown below, year-over-year world trade volume fell in the third quarter by the most since the recessions of 2000 and 2008.   Confirming slowing growth, thirty-year Treasury bonds rose and their US yield fell to a record low at 1.90% (the previous record […]

December 3, 2019 | America’s Cold War with China: Part 1

You see China’s strategy every time you go to Wal-Mart: Swamp the U.S. with cheap goods to strip our manufacturing base so they can line their pockets with trillions of our dollars. And cause 5.6 million U.S. jobs to be lost since 2001 … equal to the populations of Los Angeles and Phoenix combined. In […]

December 3, 2019 | Shop Till You Drop, Please

Ya gotta love the way the stock market turns so docile most nights that it could almost be described as cuddly. Maybe in the way that snakes get cuddly if a warm-blooded mammal lies in a pit with a hundred of them.  Earlier in the day, the Dow Industrials were down about 450 points at […]

December 3, 2019 | Six Words

Trump snorted and stocks got the shakes this week. Fresh from hitting record highs, equity markets shed hundreds of points. The issue? China. After  hinting a trade deal was at hand, Tariff Man reappeared saying he was in no hurry to sign anything. In fact a new set of levies may be imposed on the […]

December 2, 2019 | Country Risk Assessment for Resource Investors: Mexico

The drug war is heating up in Mexico. Narco gun battles and massacres of women and children are making headlines. Mexican President Andrés Manuel López Obrador (AMLO) released the son of convicted drug kingpin El Chapo rather than go to open war with his cartel. President Trump says he’ll designate the drug cartels as terrorist […]

December 2, 2019 | Eye of the Beholder

Anyone who was paying attention or writing placement cheques in the last month knows that things went from warm to very cold in the resource space over a very short length of time. I talked about how I thought we needed to shake out some speculative longs in the gold market last issue. I’m surprised […]

December 2, 2019 | After the Oil and Gas Rush: Apportioning Clean Up Costs

This is a complex question, but as we consider benefits that flowed to the public and how to apportion cost responsibility between producers and taxpayers, it’s worth noting that oil and gas production doubled in Alberta since 1980 but royalty revenues to the province fell 90% and corporate taxes from producers are down 51% since […]

December 2, 2019 | Legarde & Green Bonds

QUESTION: Marty; Why is Legarde pitching Euro Green Bonds when they lose money? JL ANSWER: If she can use the climate change nonsense to shame Germany into agreeing to issue Eurobonds, it would be a step to eliminate the refusal to issue a single European debt. If Legarde can sell that issue, then it will […]

December 2, 2019 | Wrexit

Most of us outside AB don’t care about Wexit. But we will. Western alienation has the potential to create political chaos in Canada, send the feds into a tailspin, blow up the Conservative party and send a shudder through the national economy. But Alberta isn’t going anywhere. Just like Quebec. And Jason Kenney, the current […]

December 2, 2019 | Is The Current Rally A True Valuation Rally or Euphoria?

Our research team has been warning that the US stock market price rally over the past few months has been more of a zombie-land price rally than a true valuation rally.  Our researchers believe the continued push higher has been more about capital seeking safety away from foreign risk and into US Dollar based assets […]

December 1, 2019 | See You on The Dark Side of The Moon

And if the cloud bursts thunder in your ear You shout and no one seems to hear And if the band you’re in starts playing different tunes I’ll see you on the dark side of the moon  Brain Damage, Pink Floyd And if the dam breaks open many years too soon And if there is […]

December 1, 2019 | Liquidity & Volume Diminish – What Next

As the Thanksgiving holiday passes, traders should begin to understand that liquidity and volume in the US and global markets typically begin to diminish over the next 30 to 45+ days.  Typically, between mid-November and early January, trading volumes weaken dramatically as institutional and retail investors move away from the markets in preparation for year-end […]

December 1, 2019 | Dr Garth

“Unsure of whether an MSU is appropriate or patronizing, so I’ll just state I’ve been an avid reader and occasional commenter for 12 years, and your advice has saved this Alberta cowboy from himself many a time,” says Thomas, guaranteeing my attention. “I’ve never sent in an email, but puzzling through this one and thought […]

December 1, 2019 | Advice Worth Taking

We’ve reached the Thanksgiving weekend, and as always, I’m thankful for loyal readers like you. I hope you are enjoying some quality time with family and friends. And because of the holiday, this week’s letter will be shorter than usual, but I think it will offer real value. Year-end is rapidly approaching, which means time […]

November 30, 2019 | Cincinnati Building Nation’s Largest City-Led Solar Array for Economic Reasons

Another day another new record renewable energy project underway for economic reasons: to reduce utility and extreme climate costs while creating sustainable jobs.  See:  Cincinnati to build the nation’s largest city-led solar array. Cincinnati is releasing details about a plan to build what’s being touted as the largest municipal solar array in the United States: a 100 megawatt […]

November 30, 2019 | Trading Desk Notes November 30, 2019

The S+P 500 index hit new ATHs again this week…closing higher 7 of the last 8 weeks…rising ~10% from the early October lows. YTD gains are ~25%. David Rosenberg reports that 95% of the total return YTD has come from P/E multiple expansion, with dividends accounting for 8% while actual earnings account for a negative […]

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