"I'm practicing as much social distancing as I possibly can" stated Dr. Anthony Fauci, White House Director of Disease, "I'm working on getting the boss [Trump] to do this. I may not be successful, but we're working on it."
Last week, NMC admitted that it identified an additional $2.7 billion in debt, rounding the total debt to around $5 billion. NMC staff were not paid last month.
"It's the financials that are really getting killed,” stated Schiff, “They have made all the loans that are not going to get repaid, so this is just like 2008, only it's not just the banks that are going to need a bailout, it's the hotels, it’s the airlines, it's companies like Boeing, it's the cruise lines.”
“The National Marriage Project dubbed the drop in divorce ‘a silver lining’ to the Great Recession,” stated The L.A. Times, “arguing that tough times were pulling many husbands and wives closer together.”
When a sector gets hot, small cap stocks can often get a bump by sidling up to the hot sector with a new product/idea/opportunity. When the dust clears, the intrinsic value of the new offering is typically deemed to be low. We saw it in 3D-printing, with Dung Beetle Treats. We saw it in weed with a $1 billion website that forgot to sell cannabis. We saw it in blockchain with a Cryptocoin for porno transactions.
With all of the carnage in the broader markets of late—S&P 500 futures are currently off 5%, Crude Oil (WTI) is off a whopping 30%—there are precious few bright spots.
Gold Junior ETF (GDXJ.NYSE): gold offered “Hero Role” in re-make of “Apocalypse Now” – accepts gig on Hollywood Squares instead
Analysts have tied the retreat by gold in part to positioning, noting that data had shown extremely high net long speculative positions in gold futures. Still, the degree of the pullback in light of the continued selloff in equities was widely described as a surprise.
“While the comparison to SARS may provide some guidance, important changes have been experienced in China and the Chinese gold market since the 2003 outbreak,” stated the WGC.
Due to the number of companies I have in mind for this one, I’ll dispense with the usual preamble, except to say, gold is looking constructive on the charts (note the accumulation/distribution line), as is the GDX and the GDXJ. All three are holding their ground, and many of the companies I follow in the junior exploration arena are catching a bid, or are trading firmer.
Nexus (NXS.V) has been in Burkina Faso for years. With a new acquisition announced just yesterday, the company now controls over 750-square kilometers of highly prospective terrain in the prolific gold producing West African nation.
Nexus Gold (NXS.V) management correctly gauged sentiment in the junior exploration arena at the beginning of 2019, sensing a continuation of the pervasive weakness we’ve witnessed over the past eight years.