Daily Wealth

Another month goes by, and another new all-time high for gold. At least for Europeans…..

….the 10-year yield just jumped toward a new 12-month high… and is close to an upside breakout over 4%….

If you spent $1 million per day from the time of the founding of Rome – roughly 2,700 years ago – until today, you would have accumulated about $1 trillion in debt. Now, double that amount. And that’s the size of our annual foreign borrowing obligation…..

We typically cover longer-term ideas in DailyWealth. But we also know going against crowd behavior – and trading overbought/oversold extremes – is a great way to make money for folks with time to follow day-to-day movements…..

What about gold? Where does the rich man step in to buy during a gold decline?

I think gold will do better than silver under this scenario, because gold is viewed as a monetary commodity by all the major players, whereas……

OK… we timed our late-November “gold is overbought and ready for a decline” forecast pretty well…..

On January 21, 1980, silver’s London fix price was $49.45. It has never been higher. From there, it began a plunge that would take it to a low of $3.5475 at the end of February 1993. That was a plunge of 92.8% in just over 13 years. A 50% retracement of this loss would be around $26. So far, it has not done that. I’m still waiting.

AN INVESTMENT RARITY This is “survivor’s week” in Market Notes. For the next four days, we’ll feature a stock that survived the greatest “stress test” thrown our way in decades: the 2008 credit crisis. Classic investment wisdom says if a stock can hold steady or make new highs during a horrible market environment, it’s incredibly … Continue reading