Who is Lying, BKX/SPX or Inverse Gold?

[Warning: confusing post alert!] The BKX/SPX ratio (Banks vs. the broad stock market) used to be a consistent traveling companion to the inverse of the gold price. In other words, when Bank leadership was rising gold was falling and when Bank leadership was falling gold was rising. It’s logical because in a thoroughly debt-stoked and financialized economy – dependent upon the Pigs for gainful lending … Continue reading Who is Lying, BKX/SPX or Inverse Gold?

Callum: Investors All-In; Good Luck to Them

We are operating to an SPX target that is well higher; 3000+. That has been the case ever since SPX broke out of the red box shown here. Before that 3000+ was the alternate. Now it’s the feature. However, the depressed VIX in the lower panel above is just one (lower priority) indicator of risk. So what’s new over at Biiwii? There are Hindenburgs floating … Continue reading Callum: Investors All-In; Good Luck to Them