It takes about a day to get here and of course it’s raining. Things are tough in town right now. I saw a few stock promoters on the corners with signs that said, “Will work for financings”. I hope to see some of you at the conference Saturday. I will be spending the next two days crying with various managment teams I work with.
I see the Fed cut interest rates. Another silver bullet now spent. It looks like we did have a key reversal in the U.S. Dollar which helped gold and some commodities.
Don’t let cash burn a hole in your pocket. It was refreshing to turn on the TV here and see a real financial network-BNN.
Godd night from Vancouver!
I’ve been following Peter for just over a year now and like reading his market insights. Dark days ahead, you say? Well, as I make my way over to the lower mainland this Friday, I’ll be reminded that other things in life exist to make one happy, even if my portfolio is down 78%. It’s my wife’s 60th birthday and we’ll be celebrating in grand style at the tea house in Stanley Park Saturday night! I hope the conference goes well for everyone!
Welcome back to Canada. Hope its not raining out there.
In your last BNN Market Call you made another excellent Macro call on the U.S. dollar(short). I chose to use the Horizons Ultra short Dollar down instead. Do you see this U.S. dollar short as a ‘longer ‘term trade, or just a quick in and out?
Thanks
Mr. Bernanke should have resigned on the 2 nd day in office. He just doesn`t understand. I guess he spent all of his time focusing on US 1930 depression and not Japan lost decade`s. Interest rates went from 8% to 0% and real estate down 80% more or less. At a certain point, people just don`t believe in the system and completely stop spending other than absolute necessities. Other than a fool rebound in the market (hey even a slot machine can pay out sooner or later) this market is dead wood. Saddly, t-bills , gold and no debt is the way to go. In a maniaco money printing idiocy market like this, to tell me that World interest rates can stay at 0% and we can control inflation with worthless pieces of paper is a waste of time. No wonder almost half of company presidents have and or resigning (like Paulson) before 2009. Prices of real-estate is starting to fall down here in Canada with NO buyers. It is incredible…never seen this (from a real-estate broker friend). Since early summer…..no buyers…no offers… (very little). Zippo. In my opinion, like a stock, when all have bought, you know where a stock goes! I see house prices completely collapsing regardless of interest rates which are at ridiculous low levels. I mean sooner or later, if banks lend at 0%, then all banks will be nationalyzed since none will make profits! stupidity again. And did you check the car market? in a total depression. Check out the car lots…never seen this…”words from a 30 year car broker”. The only thing with a bid are Honda civics..USED under 6000-7000$!!!!!!!! and retail? forget the CNBC BS or any Government propaganda…shopping centers are empty..just walking pparents with kids trying to kill a rainy afternoon. Brokers? Bankers? Lending officers? financial planners? high tech? just has bad. Has bullish I want to be….I can`t see a single good sector since there is a financial destruction of capital. And with the World soon at 0%, what`s the use of T-bills or paper dollars????????
The doodoo will (allready is) hit the fan and it is allready on turbo speed.
I’d like to buy some gold stocks but gold still looks weak, and besides that with it down most of today gold stocks are confused..some up some down, and to add to there confusion etf’s ie….hgd should have been up and it was down all day and hgu should have been down and it was up all day….even the etf’s are confused…….so thus iI’m confused lol
Mr Grandich
Michael Cambell’s group video’s their guests while at the conference (don’t worry – lucky for us not in your room) Is there any chance we could see what you said to those people in the frozen north by sharing the video of you with us?
Michael
Love what power_investor said! I agree.. I see inflation ahead and a stagnant economy. The economy wasn’t sustainable (you can’t go forever on debt without eventually slowing down because you’ve got all the debt you can handle, in which case you must start paying some of it off.)
@ Michael, Vancouver is hardly the “frozen north”. It’s practically a tropical paradise to us real Canadians (who actually live in the cold) – Peter said it was raining, not snowing
.
Robert
Does that mean the igloos are melting?
Michael
Well, Michael
Igloo season isn’t upon us yet! Got to start building it again in a month or so… the snow is knee deep already, but it’s ok, it’s not THAT cold yet!
FYI for Michael: The event in Vancouver sold out almost immediately. You can order the CD audio set here:
https://www.strategicprofitsinc.com/mastercart/Cart/product_details.php?mid=565435541048532019&product_id=846164221222206554
And you get it at 16% discount with your american dollar!
Gold stock targets are droping, which may or not mean anything….today Ubs gold gold forcast cut significantly
Gold forecast cut to $700 for 2009 at UBS
Posted: October 31, 2008, 9:26 AM by Jonathan Ratner
Economy, Mining, gold, recession, inflation, silver, precious metals, base metals
Yesterday it was oil and natural gas, today it is precious metals. UBS has again lowered its 2009 forecast for gold, this time from US$825 per ounce to US$700, while also cutting silver sharply from US$15.08 and US$12.58 in 2009 and 2010 to US$8.40 and US$8.95.
So what goes on here……maybe gold is going to vist the 600’s and cons longer then we think…..
NAK has gone from $1.88 at the close on Monday to over $3.50 with about 45 minutes of trading left today on above avg. volume each day. Approx. 85% in just 4 trading days…nice. Same price movement next week would take it back over $5.00. Can’t imagine what would happen to this stock if one of the majors threw out a bid. In my dreams, I envision at least one higher bid above $10.00…and most likely 2 higher bids, with Anglo winning the bidding war at approx. $15.00 and keeping Pebble all for themselves. C’mon baby…make Daddy’s dream come true.
Peter, can you comment on the market action this week? Is this a headfake, and if so, where do you see it topping?