Good afternoon everybody, and an early Happy New Year to you all!
We're sending today's edition of the newsletter out to you a little bit earlier than usual because, well, we can. Although stocks are down a bit, they remain stuck in the same range they've been stuck in for a few days now, and it's unlikely they'll get unstuck during the last few trading hours for the day, week, month, and year.
Just because the market's been lethargic all week, however, doesn't mean we haven't been busy.
Well, that was interesting. Normally this week is mildly bullish, so today's decidedly bearish action was a bit of a curve ball. Or, maybe it wasn't.
Remember this chart from Thursday of last week? When we looked at it then we mentioned we saw a budding recovery effort from bonds and gold, which would come at the expense of stocks. In the meantime that's been fleshed out a little more... just as we predicted would be the case. We're still not past the proverbial tipping point, but boy are we getting close. And, you don't need me to point out there's a huge performance gap between the winner and the two losers that's aching to be filled.
Welcome back everybody. We hope you all had a nice, long holiday weekend. Though this week is apt to be a relatively mild, low-volume one with the New Year's holiday and Christmas holiday book-ending it -- a lot of people are effectively (if not literally) checked out -- there's still more than enough going on for us to keep publishing and for you to keep reading.
First, those of you who are investors in Staffing 360 Solutions (STAF) may want to keep your eyes on your mailbox for the next few days. That, or maybe your e-mail inbox, if your brokerage account is set up for that. Whatever the case, Staffing 360 Solutions is in the process of mailing out proxy materials for its annual shareholder meeting, which will take place in New York City on January 26th. James Brumley has all the details.
Welcome to the weekend everyone, and not just any weekend - a three-day weekend. Of course, if your holiday weekend is anything like mine -- wildly busy -- then you may be longing for a return to the normal trading/work schedule by Sunday afternoon. Heck, it's already been overwhelming in my household, with the whatnot of getting everything ready... the food, the gifts, the whole shebang. And, I'll confess I'm still not done with my shopping yet. I suspect many of you aren't either, still stumped as to what to get that person on your list that's just hard to buy for.
May I make a suggestion?
I know there was a point in time when a gift had to be something you could wrap up and put a bow on. The advent of the digital age really has changed what constitutes an appropriate gift though. My dad, for instance, loves his annual gift subscription to Netflix (and for some reason won't sign up for himself). My 12-year old wants little more than gift cards he can use to download video games and make in-app purchases. My wife wants... well, she wants stuff, but that's a different story.
Good Thursday afternoon/evening, folks. You can really tell there's a long, holiday weekend approaching. There's not a lot going on out there right now, and the action that is going on is mostly mild selling... as if investors are migrating to a cash position so they don't have to worry about things this weekend or in the coming week. It may not be a bad move, all things considered.
All the same, there are some subtle things going on that may make you rethink what's going on with the market here. You just have to take a few steps back and look at the whole thing from a bit of a distance.
We'll do that, but first, there's some exciting news from featured stock Nexus Gold (NXXGF, CVE:NXS) we want to review for you.