Over-Confident Republicans Poised For Disappointment – Ep. 238

* On Monday the market got its first opportunity to react to President Trump and the Republican Congress' failure to repeal and replace Obamacare * With something more palatable * And as a result, the market declined * At the lows, the Dow was down approximately 200 points * Although the "Buy the Dippers" came out, and by the end of the day, the Dow was UP about 150 points * But it was the 8th consecutive down day for the Dow * Which I think was a tie for the longest losing streak since 2011 * Had the Dow been down again today, it would have been the longest losing streak since sometime in the 1970's * So it wasn't that surprising that the Dow rallied * We were up about 150 points, so we more than wiped out yesterday's losses * On the other hand, the dollar sold off yesterday and actually traded with a 98 handle * For the first time since just after the election * Almost all of the Trump-related dollar rally has been eviscerated * The dollar rallied back today closing at 99.71 today * The pound was weak; the Scottish are getting ready to have another referendum * Whether or not they want to leave the U.K. * Remember, the Scots did not want to leave the EU * They narrowly rejected an independence referendum before and now that there is going to be another vote, the market is nervous * Maybe that helped push the dollar down, but we're below 100 on the dollar index right now * Gold got back up to $1260 yesterday; at one point it was up about $17 * I didn't see it hit $1261 * That was about the high for the year * Gold still closed today above $1250 * Silver was actually up again * Adding to yesterday's gain, we're now holding above $18 * So gold and silver going up; the dollar going down * We did get a rally in the bond market yesterday; gave back some of that today * I think today's rally was more of a technical bounce on the "Buy the dip" mentality Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy