Crude oil is topping and Natural Gas should start to rally soon. They often move in opposite directions.
We are looking for a pre-holiday stock market inflation event Friday. If our extreme levels are hit we may deploy our short earlier than expected tomorrow.
We've forecasted May 20-22 to usher in consolidation for the metals in our Market Snapshot for weeks. It is occurring as forecasted. No need to trade each wiggle. NUGT can see $90+ in the first few days of June.
$1710 should support gold on this consolidation. We tagged $1715 today, almost there.
A tremendously undervalued restaurant stock we have harvested good gains from in the past few months. We may add it to our portfolio shortly.
Exactly what we want to see from GBTC and Bitcoin: lower prices. Regardless of what you may think of Bitcoin, as a believer or not, it is a trading vehicle and medium of exchange used around the world. It is not going away anytime soon. We don’t plan to marry it - just trade it. Many large institutions have longterm crypto portfolios. Times are changing.
Our next report will be a Weekend Briefing on Sunday and our normal nightly briefing will be published on Monday evening to prepare for the busy week ahead. US futures and commodities markets will be open Sunday night and for a portion of Memorial Day, Monday. To our clients in the USA and abroad, enjoy this holiday and a brief respite from the US stock market.
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