Five BANKS valued for BILLIONS just 50 days ago have collapsed.
Silvergate; Silicon Valley Bank; Signature Bank; Credit Suisse; First Republic Bank.
Everyone says it’s contained. WOW, contained?
Gold says likely NOT. It closed at 1990, ( paper price), delivered real price USD 2125 and Silver closed at 25 ( paper price) delivered real price USD 56.50. Now I guess if everything were “Under control” the prices would be 42.22 for Gold and $9.00 for Silver. I guess not.
Now one of my fav commentators always ends a segment with the CLOWN WORLD. Guess what Chairman of a Central Bank was pranked into revealing that he planned 2 mor 25 BPS raises, pranked by a Russian accented hacker impersonating Zelinsky from the Ukraine. But then virtually all politicians are inches away from being clowns if not already. YEAH ITS CONTAINED.!!
I’ll be the last to call all politicians stupid, but not hesitate to identify a large proportion of them as vicitims of psychopathic hysteria not different than the rodents in the Pied Piper. The only difference seems to me to be that each episode of their victim-hood, seems worse and more stupid than the previous.
So we have three categories of stocks to look at. Hard case standbys that have held up over the year, followed by Medium Tier stocks that have created uptrends for themsevles. Lastly we have Small Specs that are either broken out or trying to break out and establish uptrends.
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Some of the recent surprised me a bit, but my GOOD STANDING LIST from last month is STILL GOOD.