Comments (5)

  1. Alex Evanochko says:

    Thank you Mr. Hay for a well reasoned foray into the Insanity of Today’s Markets. Ideas are plentiful, Wisdom, not so much…Here lies Wisdom!!! As mentioned in the article, the Fed is fuelling much of this insanity and with the installation of (The esteemed-NOT!!!) Ms. J. Yellin in the Treasury, the 8th Circle of Hell is now complete! Dante was a Genius! the 9th Circle is being built as I type. my prediction is that Money creation will have to go into overdrive before we get the inevitable collapse…See January 5th for details…Your Mileage may vary. Good Luck to all…

  2. John Reid says:

    THE MAIN INGREDIENT for a continuing bull market is a stream of new entrants with cheap money. This we have. What stops a bull market is over use of LEVERAGE. Not necessarily options, because they limit the downside.

  3. Gary Maxwell says:

    Your commentary was well-appreciated by me as it confirms and delineates my many doubts about the success of the market in 2020 and the hefty odds against its continued success in 2021. I will be following up in the market tomorrow morning. You have spurred me to action.

    Thank you for your clear explanation.

  4. Last March gold stocks took a fall with the rest of the market. I was surprised by this although others said that those who purchased on margin needed to sell profitable gold stock positions to cover such borrowing, including borrowing to buy gold stocks. I assume that the same will be true this time arounD too, even though the spread between Production cost and the price of gold has widenEd and their product is money?

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