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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.08

0.0%

Feb 2 4:00 PM EST

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To: Sun Tzu who wrote (113123)	11/13/2020 1:33:29 PM
From: Lee Lichterman III	Read Replies (1) of 116958

The Fed spigot may be wide open but just like a country printing money to inflate away it's debt, there is a limit. Look at midstreams. No one cared about their debt load until they did. Just because the Fed is giving away money, eventually they will have to stop and company debt will matter again. Rising rates, debt loads or a covid lockdown etc could unhinge these markets at any time. Are you going to pay twenty million times earnings for a company growing at 3%? There has to be a line somewhere. Wherever that line is, I don't know and neither do you. Worse is that line moves and the bigger the bubble, the faster and harder it pops. Just the other day when we were up big on the vaccine news, a lot of us couldn't log into our brokers. Imagine if it had been a huge crash day. I remember watching the world crashing in the 90s with the Asian contagion etc. We are higher now than back then. FWIW, my cycle work shows we have about 2 weeks and something is going to shake things up.

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