Peter Schiff puts an interesting question in his latest podcast here in relation to the rout of Oil futures this week: could it happen in reverse with gold? The action of the oil market this week has been terrifying. Or at least it should be, as a barometer of what is to come in the holed economy purportedly as a result of Coronavirus, although I would argue the issue is more of a giant everything bubble that was waiting for a pin. Well, the pin duly arrived and our very own Peter Brailey has covered himself in glory, correctly predicting negative oil prices. So what is Peter Schiff’s point?
I spent the morning at an ante natal class with the Mrs. Hell's teeth I am a feminist don't you know? But the whole experience left me feeling just rather old and I discuss why. Then it is onto today's ramptastic news from Horse Hill and I explain what it actually means. I waltz through Gulf Keystone (GKP) - bear squeeze - Stanley Gibbons (SGI) - recovery play? - and Guscio (GUSC) - Nigel Wray play. Then it is onto Tern (TERN), Gable (GAH), IGAS (IGAS) and Golden Saint (GSR) where I discuss why today's RNS really is just bollocks and how bulk sampling really works.
The basic charting message is never recommend a stock or market against the direction of the last gap. This lesson has been served up by such luminaries such as Centamin (CEY) and Ocado (OCDO) in the recent past, where going against their gaps higher would have led the shorts to a very sticky end. So why I am recommending Ruspetro (RPO) as a speculative buy against the direction of the unfilled February gap to the downside.