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Market Update Thursday 01/07/21

The SkyNet BuyBots took control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. From there, stocks tacked on more gains as they zigged and zagged into the close. The DJIA surged 211 points (0.7%) but NASDAQ soared 327 points (2.6%).  Gold and silver were little changed. Bitcoin zoomed to another record high above $38,000.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 01/06/21

With all eye on Washington DC and not Wall Street, US stocks zigged and zagged and diverged widely and wildly. The SkyNet BuyBots bought the Blue Chips while The SellBots sold technology. The DJIA surged 437 points (1.4%) but NASDAQ sank 78 points (0.6%). Gold and silver reversed recent gains.

Stay tuned as the battle of the SkyNet StockBots continues.

01/13/21 – Egon von Greyerz: Biden’s Banana Republic

Donald Trump is probably the luckiest presidential candidate in history to have lost an election. He doesn’t realise it yet as he suffers from a self-inflicted wound in the final moments of his presidency. Nor does Biden yet realise how unlucky he is to have won. But that will soon change as his presidency goes from crisis to crisis in all areas from monetary to fiscal to social and political. Very little will go right during his presidency. Read More.

Market Update Tuesday 01/05/21

US stocks recovered from yesterday’s opening day drubbing. The SkyNet BuyBots took control in the overnight futures session, sending stocks higher at the open of trading on Wall Street. From there, stocks zigged and zagged their way to a higher close. The DJIA ended higher by 167 points (0.52%) and the NASDAQ rallied 120 points (0.9%). Gold and silver continued to rally.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Monday 01/04/21

US stocks opened the year with a thud. The SkyNet BuyBots took control in the overnight futures session, but things quickly reversed as soon as trading opened on Wall Street. The SellBots drove stocks sharply lower until precisely noon EST (“funny” how that happens) when the BuyBots came back and launched a rally into the close to cut the day’s losses. The DJIA ended down 382 points (1.2%) and the NASDAQ got smacked for 190 points (1.5%). Gold and silver soared as the US dollar plunged in foreign exchange trading.

Stay tuned as the battle of the SkyNet StockBots continues.

01/11/21 – Simon Black: 2021 may be the year that the world loses confidence in the dollar

Nearly 186 years ago to the day, on January 8, 1835, US President Andrew Jackson accomplished what no other American president has done before, or since: he paid off the national debt. Jackson was a staunch fiscal conservative. He despised banks, and, according to his biographer, he considered central banking “black magic”, and the national debt a “moral failing”. So he paid it all off– roughly $5 million. Read More.

01/10/21 – Tyler Durden: Five Reasons Why Runaway Inflation Is Imminent According To Morgan Stanley:

Last Monday, we published the first weekly warm up note from Morgan Stanley equity strategist Michael Wilson who in addition to warning that the “market is ripe for a drawdown” as the “risk/reward has deteriorated materially”, ( a prediction which has yet to pass) laid out his most contrarian view about 2021, namely that “the big surprise of 2021 could be higher inflation than many, including the Fed, expect. Read More.

Market Update Thursday 12/31/20

US stocks closed the day, week, month and year to the upside to finish at record highs. US stocks opened lower, zigged and zagged into a late day rally then pushed stocks higher into the close. The DJIA gained 196 points (0.6%) and the NASDAQ added 18 points (0.1%). Gold and silver were narrowly mixed.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 12/30/20

It was another relatively quiet day of trading on Wall Street as traders anticipated the end of a tumultuous 2020 and arrival of 2021. US stocks zigged and zagged into a modestly higher close. The DJIA gained 156 points (0.5%) and the NASDAQ added 19 points (0.2%). Gold and silver were little changed as well.

Stay tuned as the battle of the SkyNet StockBots continues.

01/06/21 – America’s Dysfunctional Economy

Peter Schiff appeared on the Lions of Liberty podcast with Marc Clair to look back at the Trump economy and ahead to what the Biden years might bring. Along the way, Peter and Marc talk about the stock market bubble, Peter’s move to Puerto Rico, the looming dollar collapse, and bitcoin. Read More.

Market Update Tuesday 12/29/20

It was a relatively quiet day of trading on Wall Street as US stocks zigged and zagged into a modestly lower close. The DJIA slipped 68 points (0.2%) and the NASDAQ dropped 49 points (0.4%). Gold and silver were little changed as well.

Stay tuned as the battle of the SkyNet StockBots continues.

01/05/21 – Jeremy Grantham: Waiting for the Last Dance

The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble. Featuring extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior, I believe this event will be recorded as one of the great bubbles of financial history, right along with the South Sea bubble, 1929, and 2000. Read More.

Market Update Monday 12/28/20

The SkyNet BuyBots took control in the overnight futures session, sending US stocks sharply higher at the open of trading on Wall Street. From there, stocks zigged and zagged to a higher close. The DJIA jumped 204 points (0.7%) and the NASDAQ surged 95 points (0.7%). Gold and silver were mixed.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Thursday 12/24/20

US stocks zigged and zagged to a modestly higher close on Wall Street in an abbreviated trading session. The DJIA ended higher by 70 points (0.2%) and the NASDAQ gained 33 points (0.3%). Gold and silver were quiet.

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update Wednesday 12/23/20

It was another widely mixed performance on Wall Street in quiet trading, but this time the SkyNet SellBots sold tech and the BuyBots bought the blue chips. The DJIA ended higher by 114 points (0.4%) and the NASDAQ dropped 37 points (0.3%). Gold and silver were mixed as well.

Stay tuned as the battle of the SkyNet StockBots continues.