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Craig Hemke – Global Market Correction, How Low Does It Go?

Cory
August 5, 2024

Craig Hemke, Editor of TF Metals Reports us to discuss the global market correction seen today, We highlight the significant drops in the U.S. markets, the 12% plunge in the Japanese Nikkei, and the cascading effects on global financial markets. Craig offers insights into the impact of geopolitical developments, the role of precious metals like gold and silver in turbulent times, and analyzes potential parallels to the 2008 financial crisis. The video also explores the carry trade unwinding, its effect on U.S. assets, the potential consequences of emergency rate cuts, and the sentiment shift against the Federal Reserve.

 

Click here to visit Craig’s website – TF Metals Report

 

Discussion
19 Comments
    Aug 05, 2024 05:59 PM

    2008 was like 1987. Both were cleanouts before decade+ runs into giant bubble tops. ’87 was nothing like 2000 and ’08 was nothing like now. We’re in for a long bear market that keeps the herd’s hopes alive and buying dips as most still believe that the Feds coming cuts will rescue them.

      Aug 05, 2024 05:29 PM

      I think you are absolutely correct…….it is well overdue… JMO
      Give us your forecast for GOLD….. thanks…..

        Aug 05, 2024 05:20 PM

        Gold is heading for levels that most still think are preposterous. $5,000+ in under 3 years looks easy and $3,000ish this year should be no surprise. There’s 2 months left in this quarter but it’s looking a lot like the last quarter of 2005 when gold was around $500.
        https://stockcharts.com/h-sc/ui?s=%24GOLD&p=Q&yr=50&mn=11&dy=0&id=t0324330531c&a=1141773244&r=1722898048753&cmd=print

        Food for thought:
        -The top in 2011 happened at 200% above the 50 quarter MA and the top in 1980 happened well above 200% above the 50 quarter MA. That 200% level today is $4633.

        -Perhaps more relevant is the fact that gold never achieved the upside chaos of the ’70s on its way to its 2011 top. Not even close. In fact it was the opposite of chaotic. To illustrate that fact gold topped at 55% above its 10 quarter MA in 2006, 2008 and even 2011 but the 1980 top happened at a whopping 200% above its 10 quarter MA. That level right now is over $6,000 and will likely be much higher by the time gold is ready for its blowoff.

          Aug 05, 2024 05:59 PM

          Thanks for the info and thoughts……

          Sounds good to me…..

    Aug 05, 2024 05:05 PM

    NVDA is broken but it did finish an impressive 11% off of today’s low.
    https://stockcharts.com/h-sc/ui?s=NVDA&p=D&yr=1&mn=10&dy=0&id=p80096649824&a=1462122821

    Aug 05, 2024 05:51 PM

    Some up some down and predominantly green stocks. However, they were offset in both accounts with hits against the stocks with highest market value. Tomorrow they can do the opposite with most down and a few up thereby make money both ways with my account achieving a lower low. Nothing new but no indication that it was the merit of my account but the merit of their unending intervention positive earnings. Does anyone believe that we would lose money if we controlled daily prices.

      Aug 06, 2024 06:38 AM

      Aug 6th update on open:
      See above comments about alternating days:
      “Examples” of yesterdays close vs today’s open and see data that shows some never stop making money:
      EMO 5 Aug close: -10.36% and Aug 6th open: +7.71%
      Benton 5 Aug Close: + 32.29% and Aug 6 th Open: -20%
      BayHorse 5 Aug Close: +13.34% and Aug 6th Open: – 30.32%
      This is US Schwab my account
      Update: Canterra Aug 5th close + 21.21% and 6th Aug Open -10.75%
      Here is a good one: Schwab close only in customer accounts on Aug 5th .0503 and in OTC .07285
      Today’s open in Customer accounts + 45.13% using the wrong closing data only in Customer Accounts

        Aug 06, 2024 06:56 AM

        Here is another issue to watch and I will use Northisle as the example (in these volatile markets):
        Northisle spread; Bid .32 and Ask .40. If you are going to sell, you are going to have to give the MM a bonus. If you Buy, you are going to have to give the MM a bonus. So that tells me from the MM action that the future of miners is bad or good depending on what the MM gets.

    Aug 05, 2024 05:18 PM

    Expect downward pressure with back filling for about 4-5 weeks. In fact I added a little today to one position. I’ll slowly add based on technicals on the way down but will get more aggressive in 3 weeks. This move down should be another gift for long term PM stock purchasers.

    Aug 05, 2024 05:38 PM

    Priced in gold commodities are weekly oversold for the first time in over 4 years.
    https://stockcharts.com/h-sc/ui?s=%24GNX%3A%24GOLD&p=W&yr=5&mn=0&dy=0&id=p91233027796&a=1745782493

    Aug 05, 2024 05:14 PM

    Today Bitcoin precisely hit the fork that it broke above in February and is now roughly 13% above it.
    https://stockcharts.com/h-sc/ui?s=%24BTCUSD&p=D&yr=3&mn=8&dy=0&id=p89221595813&a=1013900351

    Aug 06, 2024 06:48 AM

    I studied a few youtube famous type cycle traders…they tend to think that equity markets will have one final high into elections time frame this November….then the baby will be deflated for who ever the sacrificial prez becomes…because the debt is unsustainable……like japan….trapped…cannot resonably raise rates and cannot grow out of debt……deflates

    Aug 06, 2024 06:36 AM

    Here is an interesting data point to ponder: Impact, Guranajuato, Silver X and Silver Tiger are all worth .16 cents US. Hmmmm

    Aug 06, 2024 06:19 AM

    This chart isn’t live but natgas is bouncing off the fork support that it hit yesterday. It dipped slightly into that huge April gap but is that enough to say it’s been dealt with?
    https://stockcharts.com/h-sc/ui?s=%24NATGAS&p=D&yr=1&mn=11&dy=0&id=p53847610182&a=1065248041

    Aug 06, 2024 06:15 AM