Ep. 356: Oil, Bonds, Currencies, Tariffs & Guns

Ep. 356: Oil, Bonds, Currencies, Tariffs & Guns

Biggest Move in Crude Oil
Not much action today in the stock markets on this Friday before a 3-day Memorial Day holiday weekend. The action was really in the oil markets, the bond markets and the foreign exchange markets. The biggest move happening in crude oil. Crude was down just over $3/barrel today; one of the biggest declines I've seen in some time. We're back down to $67.50. Earlier in the week, we almost hit $73/barrel for crude, and here we are now at $67.50 - a pretty big drop today. We were down yesterday, also.
Speculation in the Market
The rumors today were that Russia and Saudi Arabia may be upping their production and it was that news that sent the market falling. But remember, markets don't move in a straight line. You get a lot of speculators who get into the market and generally they're not there for the long run; they're there to catch a trend, and they're there to ride it as long as they can. They tend to put stop orders in beneath the market. In the case of oil, if you're long, you'll have a sell stop and many of those stops likely got triggered today.
Technical Noise
You probably had some people trying to minimize their exposure. Either they limited their loss to the extent that they got in recently and they got stopped out with a loss or maybe they've been long for a while and they've been moving their stops higher to protect their profits and now they got stopped out of the trade. But I think this is more technical noise. I don't think this uptrend in the price of oil has changed based on this pullback from $73 now to $67.50. Maybe we've got a little more downside, but if you look at the chart, you can barely see the decline. The more recent uptrend that goes back to July - you look at this uptrend and it is holding perfectly. We're not even down to the line yet. We still have a little bit to fall before we hit that line. Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

Episoder(1084)

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3

SchiffRadio Podcast Episode 3 Synopsis: * FOMC: Janet Yellen's official statement and her response to her Q&A, later in the day * Market reaction to Yellen's statement, and the "walk" vs the "talk". * The Ali Baba IPO * The breakdown in the price of Bitcoin * My crazy email exchange with CNBC's Joe Kernen * Scotland votes to remain in the UK Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

21 Sep 20142h 4min

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2

SchiffRadio Podcast Episode 2 Synopsis * Economic Data - More weak data * Purchase applications index declined by 7.2% - biggest decline in 14 years * Treasury yields slightly up for the week * Retail sales up - Buying more or paying more? * auto purchases with cheap money * inflation not taken into account * Auto loans increasingly delinquent * Fed Policy * I'll admit to being wrong if the Fed raises interest rates back to normal and shrinks its balance sheet back to normal, as promised, and does not produce a financial crisis. * Interest Rates * Negative Interest Rates in Japan and in Switzerland * Inflation * Paul Krugman says we should be at 4% inflation and a minimum wage of $10.10 * Commentary on Henry Blodgett's inflation comments * Column from David K. Johnson on how corporations are getting rich by paying taxes * Employment * Jobless claims up, indicating a trend change * The Economy * Recognizing bubbles ahead of the crisis * Europe - Poll on Scottish independence * Social Issues: * The NBA in the hot seat for racism * Over-reaction to the Ray Rice story Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

15 Sep 20142h 3min

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1

Schiff Radio Podcast Episode 1  Synopsis: * Wall Street foolishly dismisses August's horrible Jobs Report * ECB cuts rates in misguided push for higher inflation. * "Shrink-flation," what is it and why those using the term still don't get it. * Implications of Switzerland's coming gold reserve vote . * Protesting Fast food workers determined to put themselves out of work. * Does Alibaba's biggest IPO in history shows portent more interest in foreign stocks? * Countrywide's Anthony Mozilo is not the real villain. * NY Fed concedes 25% of college grads wasted their time and money. Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

9 Sep 20141h 52min

Schiff Radio – January 1, 2014

Schiff Radio – January 1, 2014

Happy Holidays!, Due to the holidays, Peter Schiff Show is airing best-of broadcasts. Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

2 Jan 201449min

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