Update: Great pop and now back tested the neckline break. Good spot to take another long or great spot to watch if it breaks back below and go short. 

If you bought silver at its peak about 12 years ago, you would be down 50% before inflation. 

He speaks at the closing bell - 4 PM EST

Giving each employee a new vehicle every 5 or 6 years, for free, would probably be less expensive than accepting their current demands....I think a LOT less expensive. And it would attract a TON of workers that might not otherwise consider the job. People love their cars in America!  Right now workers say they get a 10% reduction from sticker price. 

When does Powell speak today or tomorrow?

SPX - touched the top of the steep downtrend channel, printed a demark 9 and pulled back a little. Hard to say if we have one more push down before breaking the channel for what I think will be a wave 4 (the bearish count).  Channel is steep and narrow, it could be redrawn after a minor break. 

Haha.  That would be kinda funny. Those companies are screwed...again. Almost worthless options...but most wouldn't know that.  I remember talking to a UBER driver a couple of years ago when Cali was contemplating the laws governing gig workers. He was completely shocked when I told him that UBER was losing a billion per quarter....so I showed him on my phone.  The typical worker thinks there company is rolling in it and can never go bankrupt....just being greedy by not paying them more. 

Right now, Powell is a hammer and everything he sees looks like a nail

Is there really anything JPow can say that would give market a lift?

Why not  give them stock options, instead of salary increases same as the guys in the C suite

$SPX - Chart Link

They keep bringing on people that say "it's ridiculous that we're building cars that we can't even afford to buy."  Lol. Can you imagine if that bankrupt thought process was extended across the economy? Would have to have rich women working in watch and handbag factories...just to start with. Silly argument.  Socialism breaks down pretty quickly when common sense is injected.

I think most workers should be able to afford a new car at some point, if they work hard and save up. But, I don't see any path to saying they are entitled to be able to afford a 70K car (which is what one of the UAW picketers was saying).  I know I can't afford that! I settled for a 50K truck....and it's the most expensive vehicle I've ever bought, by a long shot....and I'm 50 with multiple degrees that I worked my butt off to achieve. Is it unfair that I can't buy a 70K vehicle? I guess not...because I don't build them?

This is one of those statements not backed up by data - I heard that the miners are generally run very poorly and should be avoided as long term investments....trading vehicles only.  I think that came from Joe Terranova. 

Yes and over 10 years GDX is down over 50% - compare that to Gold Bullion.   Most miners have greatly underperformed Gold Bullion - you really must do extensive homework on miners.  Gold relative to the US Dollar has held value as Fiat Currencies always end up in the toilet - only a matter of time. 

I think he was just tracking the spot price. But yeah, I need to see data also. That's why I like Carter Worth - he always comes armed with charts and data instead of just making statements we're supposed to believe.  The presentation was convincing. 

ok, i consider 5 years long-term though. if someone is a believer that gold breaks all-time high and takes off from there, what would be a better option to take advantage of it instead of tying up a ton of capital in GLD?

here's the video - I have it starting at that part - where the guy brings the box to his GF to open it

https://youtu.be/3c584TGG7jQ?t=688 

again details matter - what's he talking about, holding gold? holding some gold stocks, I would need to see the stats and data laid out, just that statement is meaningless to me unless I see the actual data and stats laid out

Gold -  Carter Worth, aka "The Chart Master,"  had a segment on gold a few months back. He showed how it's had almost the exact same return as the S&P over the last 50 years,  with less volatility. Everyone on the desk was surprised, as was I.  I personally never would have guessed that was true. I'm sure you could find the segment on CNBC dot com or YouTube.

that's 5 years, I'm talking about longer term back - the stats speak for themselves, look at the buy and hold stats, as well as the draw downs, 25% 48.4%, 28%, 49.3%, 16.2% over those 5 years, 

again for me - I can't just buy and hold GDX - can I hold it for 2 or 3 months on a trend? Yes of course, but long term like someone might with SPY, nah.