Acting Man

Bitcoin Gets JuicedThe prices of gold and silver were up $19 and $0.48 respectively last week. But that’s not where the massive in-poring of groceries went. When Friday began (Arizona time),...

Bad Hair Days Are BackWe recently discussed the many divergences between major US indexes, which led us to expect that a downturn in the stock market was close (see The Calm Before the Storm for...

A Noteworthy Sentiment Change Bitcoin and other cryptocurrencies have declined quite sharply in recent days. Here is an overnight snapshot of the daily chart: Bitcoin Corrects Again It is...

Things To Keep An Eye OnBelow is an overview of important US interest rates and yield curve spreads. In view of the sharp increase in stock market volatility, yields on government debt have continued...

Anti-VigilantesWe dimly remember when Japanese government debt traded at a negative yield to maturity for the very first time. This happened at some point in the late 1990s or early 2000ds in...

Intra-Market Divergences Galore US big cap stocks have rallied to new highs in recent months, but just as in the rally from the low of the February 2018 mini-panic to the September/October 2018 peak,...

The “Greatest Economy in History” Stumbles “This is the greatest economy in the history of our country”, Donald Trump opined just a few months ago. Alas, recently there is...

A Loose Relationship The Dow Jones Industrial Average made another concerted run at the elusive 27,000 milestone over the last several weeks. But, as of this writing, the index has stalled out short...

Gold is Paul Tudor Jone's Favorite Trade Over the Coming 12-24 MonthsIn a recent Bloomberg interview, legendary trader and hedge fund manager Paul Tudor Jones was asked what areas of the markets...

Traders and Analysts Caught Wrong-FootedOver the past week gold and gold stocks have been on a tear. It is probably fair to say that most market participants were surprised by this development....

Money Supply Growth Continues to DecelerateHere is a brief update of recent developments in US true money supply growth as well as the trend in the ratio of industrial production of capital goods...

Money Supply Growth Continues to FalterOstensibly the stock market has rallied because the Fed promised to maintain an easy monetary policy. To be sure, interest rate hikes have been put on hold for...

Investors are Oblivious to the Market’s Downside Potential This is a brief update on a number of sentiment/positioning indicators we have frequently discussed in these pages in the past. In this...

Special Guest Trey Reik and Board Member Jim Rickards Discuss Fed PolicyOn occasion of its Q1 meeting in late January, the Incrementum Advisory Board was joined by special guest Trey Reik, the lead...

A Recurring PatternWhen the gold price recently spiked up to approach the resistance area even Aunt Hilda, Freddy the town drunk, and his blind dog know about by now, a recurring pattern played out....

The Seasonal Trend Inversion ContinuesBy now it has been pretty well telegraphed that the Fed will likely announce that it is going to end its “automatic 25 bps rate hike every quarter”...