Lions and friends…
I want to put a few things into perspective on this lovely Saturday morning.
Right now the SP500 has fallen just about 8% from its all time high, and the NASDAQ has fallen about 11%, and despite this, some people are freaking out. As you know, moves like this are totally normal even in bull markets.
Cryptocurrencies are under heavy pressure right now, with Bitcoin around 35K. Repeatedly I have covered how the crypto space IS VOLITILE, but my long term perspective on crypto has not changed. If you look back on the historical price action of the crypto space you will see-EXTREME VOLITILITY.. and that is just how cryptocurrencies trade.
Looking over at Gold and Silver, in my opinion there is not a single asset class that is more undervalued- and manipulated.
Looking over at crude, I fully expect it to trade over $100 a barrel at one point in the not so distant future.
OVERALL RISK IN THE MARKET IS FALLING. The last reading on the MMRI was 103.8
I will cover all this and more tomorrow in my Markets A Look Ahead.
Have a GREAT day!
GM
Good morning, Greg! You have a great day as well. Be blessed...
Stay calm and stay the course!