Monday, May 27, 2019

Silver Speculators Say It’s Time To Start Buying

by John Rubino, Dollar Collapse:

The gold futures market took a big step towards bullish — or at least neutral — in the past week. Speculators (usually wrong at big turning points) scaled back their long bets while commercials (usually right at turning points) reduced their net short positions.

This is progress, but still leaves speculators long and commercials short. The message: wait a few more weeks for 2019’s best entry point.

Prepare for Hard Brexit: Theresa May Resigns, EU Schedules Emergency Meeting

by Mish Shedlock, The Maven:

Theresa May finally resigned today, forced out by the men in grey and her cabinet. She deserves no praise or sympathy.

At long last, Theresa May Resigned. Her own incompetence did her in.

It’s finally happened. Theresa May has announced her departure from 10 Downing Street. In a speech this morning following a meeting with Sir Graham Brady, the chair of the 1922 Committee of Tory backbenchers, the prime minister said she would stand aside on Friday 7 June, with the process to select a new Conservative party leader starting the following week. Fighting back tears, she said: