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  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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« Higher Highs | Main | Stocks and OIl Higher into May »

April 09, 2019

Caution Warranted Indeed

Wed April 9, 2019

Our column last Friday ended on literally a cautionary note.   Looks like we had that right.

 

Stocks and oil have followed one another up since last December. I expect we have at least the start of a consolidation in both markets. Gold hoever has been building a base around 1,300 since its February high at  1,375. Here is paper gold GLD which trades during the day.

Screen Shot 2019-04-09 at 10.22.33 AM

Support has ben building here at  121. PMO is bottoming, this is forecasting a rally.

XOP

Energy shares may have topped at teh  125 day MA.

Screen Shot 2019-04-09 at 10.28.58 AM

We have been anticipating a low in precious metals this month. It may be coming in earlier than we thought.

Posted at 11:32 AM in Energy |

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