Dear Reader,
I’ve been thinking about the market this weekend and what an interesting divergence we find ourselves in…
Stocks are rising like we already avoided a recession…
Gold prices are rising like we’re headed into a recession…
Oil prices are rising like we’re headed into World War 3!
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Bond prices are falling as geopolitical tensions are also easing.
Crypto is falling like risk appetite has disappeared…
While tech stocks are rising like risk appetite is at an all-time high!
It is like a bipolar market.
I use a lot of good indicators for market analysis.
For example, commodity prices tend to tell you what industrial makers like Caterpillar, Deere and all these construction companies that make massive buildings and factories are buying…
Copper for steel, iron ore – the things that go into the foundational construction of a civilization.
Those prices are going down, and what that tells us is that big manufacturers are not building as much.
That is usually a strong indicator a recession is coming.
Also, gold is rising like we haven’t seen since 2008, 2000 and 1929.
We talk about this in my Midnight in America documentary (now streaming).
So gold is giving us this warning sign. It’s flashing red like “Warning! Warning! Warning!”
The “Buffett Indicator” – market value-to-GDP – that’s flashing red and signaling a 60%+ market drop.
So you have a lot of red flashes, and yet, this market looks like it wants to go another 3%, 4%, 5% higher.
Now, this is not that unusual…
It really depends what facts you’re looking at.
What we try to do here at Behind the Markets is look not just at the good stuff, not just at the bad stuff. We try to take a complete picture of both sides.
If you look at “the world is pretty like a Disney movie” set of facts, you could argue the market might go up another 5%, I guess.
But if you’re looking at “the world’s coming to an end” set of facts – like the reality actually that commodity prices are dropping, gold is rushing higher…
The Fed’s lowering rates and bond yields are going up, which speaks to inflation in the economy…
As I have been ringing the bell on for several months here, the complete picture is saying:
Caution is the watchword.
So as we move forward into this second week of October, just be cool.
Let’s wait for the opportunities that come to us.
In other words, let the game come to us, as Michael Jordan said.
On that note, there is one little biotech stock I really, really like right now.
It’s using AI to design drugs, and Big Pharma already bought one of their drugs for $4 billion.
Yet, very few people know about it yet.
Get the name of the stock here… while it’s still a small-cap >>>
Have a wonderful day.
“The Buck Stops Here,”
P.S. Bristol Myers Squibb signed a $2.7 billion deal to have this company’s AI-platform develop six new drugs…
Eli Lilly signed a $425 million deal for a single drug…
That doesn’t include the deals they signed with Sanofi, Nimbus Therapeutics, Petra Pharma and others.
That’s why I believe this will be the biggest AI winner you never heard of.