Thursday, stocks were higher yesterday and Jim Cramer calls investors stupid. A quote from the article, “Never underestimate the power of enthusiastic buyers who do not know what they’re doing,”
I am reminded of another famous investor who said, “Markets can stay irrational longer than you can stay solvent.” That's essentially what economist John Maynard Keynes said in the 1930's
Because stocks are over valued does not mean they can't go higher. Markets run on emotion not valuations. That theory works on both ends of a market run.

Good news Wednesday, everything was up yesterday except interest rates and the dollar. Stocks had a very good day but the shining star (pun intended) was silver which was up almost 7%. If you are considering gold as an investment the attached article can provide a basic understanding of the gold market(s).
Yesterday the 10 years Treasury bond yield hit another multi-century low.
Motor vehicle sales rose to 14.5 million units (annualized), and factory orders were up 6.2%.
A listener called yesterday seeking help with their 401k. That inquiry prompted me to ask the question, "who is helping you with your 401k"? Someone is being paid to help, if your not getting any help someone is not doing their job.
Now that the Trump Administration has accepted the continuation of the $600 weekly payment a 'deal' on the stimulus plan is close.

Tuesday, stocks were up yesterday. The world seems to be settling into a new normal.
Are you thinking of taking advantage of the low mortgage rates?
Historically low rates are very tempting.
PMI & ISM manufacturing indices indicate the manufacturing sector of the economy is expanding.
Remember when Hertz filed bankruptcy we thought used car prices would drop. Well not so much.
Are you thinking about holiday shopping? Online retailers are.

Monday, stocks were higher Friday. Nothing big but positive. Monday morning is usually a slow news morning but not today.
Here are some examples:
10 years Treasury interest rate hits a 234 year low
Bankruptcy filings Lord & Taylor, Tailored Brands (Jos. Banks, Men's Warehouse), Brooks Brothers, Noble Energy
Marathon sells Speedway and closes 2 refineries
Lumber shortages
Wall Street Journal Newsroom revolts saying the editorial board it too consertative.
Finally some good news. If you are 50 years old there are as many as 500,000 jobs available if you will retrain. Quote from the article: “The fact that one can get a certificate in about nine months and totally re-career into a nearly guaranteed job is an incredible opportunity for an older worker.”— Nora Duncan, Connecticut state director of AARP

Friday, stocks were down yesterday. Considering the GDP report we were lucky stocks were not down more. The GDP dropped the most since the 1940s. The economy had started to improve in June then the second round of restrictions caused the economy to slow again. Maybe it won't be a 'V' recovery. A quote from the attached article "More recently, economic activity has picked up. Consumer spending, particularly on big-ticket items such as homes, autos and other long-lasting purchases, increased in June."
To add to the bad news first time jobless claims rose for the second week in a row.
The dollar has declined about 10% since March and gold price has gained approximately 30% over the same time. The charts of the dollar and gold look like mirror images.
Yesterday a client asked me to describe what is happening in the economy today.

Thursday, stocks were up yesterday as gold hit another all time high. More good news for the real estate market pending home sales jumped 16.6% month over month.
Shell Oil and Total announced disappointing number because of falling demand and gas is below $2 per gallon most place.
FOMC meeting ended and the Fed. Chairman did his normal press conference and let me paraphrase his comments, 'we don't know if what we are doing will work but we are going to do more of it'.
Today we get GDP numbers and they are expected to be ugly.
The German GDP was announced yesterday and the numbers were the worst since 1970.

Good news Wednesday, not much good news to report but never fear I will not resort to fake news as a substitute. Stocks were down, nothing big. Attention was focused on Barr on the Hill and the social media giants censoring content.
Remember when we talked about the under 35 crowd rents not buying homes. Now they are buying!

Tuesday, stocks were up yesterday, but again the big moves were in the precious metals. Gold was up $41 to $1944 (an all time high) and silver was up $1.91 to $24.72 (the highest since 2012). Both pulled back overnight but there is little fear that this is anything other than a buying opportunity.
Bitcoin is back over $10,000.
Two drug companies are beginning final stage test for a corona virus vaccine.
The two political parties in Washington are fighting over who can give away the most money.
Are you a Tesla fan? Read the attached article. Quote from the article "‘This market is setting up to be one of the great short opportunities of all time. Trouble’s coming, I don’t know when, but it’s coming."

Monday, stocks were down Friday but not everything was down. Real estate, gold and silver were higher. Gold is at an all time high and silver is playing catch-up.
This week ends July and unless there is a major sell off this week stocks, bonds and commodities will end the strongest 4 month rally in history. The old saying "sell in May and go away" didn't work this year.
New home sales soared last month at the fastest rate since 2007.
Do you use a debit card or a credit card? Do you know the advantages and disadvantages of each?

Friday, stocks were down yesterday. No news just a slow disinterested slide.
Jobless claims rose but some sectors are hiring, and having trouble finding workers.
McConnell is set to release a new unemployment package, it will not be as generous as the last one. It is designed to encourage people to get back to work.
Silver took a break yesterday but gold rose.
I am going to link a video I posted yesterday because I think it is important to see what has happened in New York City. I think that NY will not recover for a long time, if ever. The damage done not just to physical property but the psychological impact will be lasting.