Gold & Corona: Welcome To The War! Stewart Thomson
March 17, 2020
The Corona war intensifies, and now the enemy has an air force! Health organizations like WHO are declaring the enemy virus airborne.
Pathetic Western governments and central banks are fighting back with the only weapons they have; more debt and propaganda that the fight is going “better than expected”.
Please click here now. Double click to enlarge what is probably the most important chart in the world.
My 2019 call to sell stocks and buy gold already looks like one of the most spectacular of all time, but it simply comes down to my relentless focus on the weekly Dow versus gold ratio chart.
US stock market investors focused on politicians instead of this chart, and now they look like the investors did in 1929. They look like debt-worshipping ants hit by a nuclear bomb.
There have been no reports of investors jumping out of windows yet, but I predict that will be the next stage in America’s failed war on Corona.
Companies blew their earnings on stock buybacks instead of saving for a rainy day. Investors worshipped debt and government instead of acting prudently, and now the Corona virus enemy is mopping the floor with them.
Please click here now. The bottom line: Get prepared, and stay prepared.
Only in China did the citizens and government take the war seriously, and victory has been tentatively achieved there. South Koreans have followed China’s lead, and I’m optimistic that victory is achievable for them.
Please click here now. Horrifically, I’ve predicted that before the Corona war reaches its crescendo, America will look much worse than Italy does now. I stand firmly by that prediction.
Astrology fans may note that I was born in the war sign of Mars, in 1962, which is the year of the tiger. I volunteered for the Navy when I turned 18 and trained with the world heavyweight karate champion for many years. Simply put, when a war comes to town, I’m up at 4am, and ready to fight!
Stock market investors who worship the government can’t fight their way out of a wet paper bag, and their financial pain from the Corona war has barely started.
Gold and cash are the obvious keys to financial survival, but what about gold stocks? Well, please click here now. Double-click to enlarge. There’s a beautiful inverse H&S bottom on this GDX chart, and it’s also present on many individual miners.
Tactics? Please click here now. Double-click to enlarge. Note the sell signal on the Stochastics indicator at the top of this weekly gold chart. I use the 14,5,5 series and refer to it as “Leo the Lion”.
Simply put, when the lion roars, investors need to pay attention. I suggested investors prepare for the arrival of gold at the $1446 low zone… and prepare to buy gold stocks there if it happened.
My “go-to guy” for Elliott Wave analysis is Captain Ewave at www.captainewave.com. He believes that a major divergence is in play, with gold bullion set to trade a bit lower, while gold stocks move higher, and then both stage a mighty blast to all-time highs.
This fits with my thesis that a changing of the guard is in play. Who has the cash to step into the market and buy the gold stocks now? The banks have the cash. I believe they have been the buyers while funds have failed… and bailed.
Trillions of dollars have come out of the stock market, but money managers have not recommended putting that money into gold or gold stocks…. Yet.
I’m predicting that governments and banks will print at least 100 trillion dollars to fight the Corona war, and it could reach… a quadrillion.
Please click here now. Some analysts have compared this crisis to 2008, but I’ve always suggested that for America, it would most closely resemble a hybrid of 1966 and 1929.
In 2008, central banks and governments could incentivize citizens and corporations to go to work and produce earnings and revenues. Now, the printed money will be used to pay the people to stay locked in their homes!
When the dust settles, I think the Corona war crisis will be viewed as the launchpad for gargantuan inflation, and quite possibly… hyperinflation.
Please click here now. Double-click to enlarge. GDXJ sports a similar chart pattern to GDX, and yesterday it surged a mindboggling 38% against the incinerating Dow.
The bottom line: Gold stocks will rock the world. Now is the time for the wise and the brave to buy, and then sit back and enjoy a thunderous rocket ride to the sky!
Mar 17, 2020
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is a retired Merrill Lynch broker. Stewart writes the Graceland
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