As a ‘child’ of the sixties, I watched a very popular and lively TV show (in glorious B&W) called That Was The Week That Was. It was the first of a succession of satirical political programmes that kicked off the transition from the age of deference (doffing our caps to our ‘betters’) to the current age of outspoken condemnation (and worse) of our so-called leaders (aka the ‘elite’).
At significant market turns, such as we are now in, divergences between related markets proliferate and become stark. We have them in stocks and gold/silver. Such is the case in stock markets where the leaders in the current stock market push are getting thinner with
Exciting, isn’t it? Blink and you miss a 200-pip swing in the Dow! Yesterday’s action was particularly vigorous following Thursday’s strong relief rally with heavy and persistent selling. The whipsaws are huge – and the potential for being on the wrong side of them is
I continue to be amazed at the lack of understanding out there on how markets really work – and this is among professional money managers who should know better. I wrote to my VIP Traders Club members this morning with this quote from AEP in
