Powell Tells Nation There’s Nothing to Fear – Ep. 452

Powell Tells Nation There’s Nothing to Fear – Ep. 452

Recorded March 13, 2019

VISIT PETER AT THE LAS VEGAS MONEY SHOW
May 13 - 15, 2019
https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/
Big Drop in Boeing: Opportunity to buy into Dip
The Dow is continuing to rebound this week, up 148 points today - 25,702 was the close. In fact, the Dow would be higher if it weren't for an about 11% decline in Boeing so far this week. I am going to talk on this podcast about the controversy surrounding Boeing and their 737 Max 8 aircraft. But for now I want to talk just about the markets. I actually think that it was the big gap down on Monday morning, where Boeing first reacted to the news of the plane crash in Ethiopia and the Dow was down better than 200 points - all of it the big drop in Boeing. I think traders looked at that news as an opportunity to buy into the dip. I think you saw people rushing in at that point. That kind of marked a short term bottom in the market and now we're back up around the highs of this bear market correction.
Smarter Money Selling into this Rally
I do believe that we're going to be running into resistance again at this area - but that was probably an opportunity for some people, they saw that dip and they rushed in and they bought other stocks. Typically there's some kind of news event that would coincide with some type of inflection point in the market. I don't think it's a significant low; I just think it is a low in an ongoing process, this bear market rally, this correction in the bear market is not ending quickly, but I do believe it is ending. I think the smarter money is selling into this rally.
Retail Sales: December was not a Fluke
The economic news - a couple of items that came out this week were a little better than estimated. But look at the Retail Sales number that came out on Monday. That one, to me, still confirms that the numbers that we got in December were not a fluke. A lot of people initially dismissed the weak number in December. The initial report for December Retail Sales was -1.2. They were looking for a rebound in January and the got one. They were only looking for a rebound of .1 and they got a rebound of .2. They actually revised the prior month that was originally reported as down 1.2, that moved to down 1.6. So an even bigger decline December than was originally reported. Remember, this is a 10-year low. Our Sponsors: * Check out Aeropress and use my code GOLD for a great deal: https://aeropress.com * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Boll & Branch: https://boilandbranch.com/SCHIFF * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

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