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Daily Rap 04-24-2013

Overnight markets played a little catch-up, with Asia especially strong, although Europe was higher as well. It appears that the gargantuan money-printing effort by the BOJ, on top of what the Fed is doing, and others, has managed to really put world markets in overdrive. Not that it has done much for economic activity thus far, but obviously that hasn't mattered, as folks believe the second half of 2013 will be good (having forgotten that they thought the same thing in 2011 and 2012).

Through midday (when I had to leave) the market here was slightly lower, led by the Nasdaq, which was led by Apple, whose share buyback announcement was not enough to offset crummy numbers.

Away from stocks, at midday gold was about 1% higher, though silver was only...more

Last year's posts for Ask Fleck

Q: Hi Bill:

Here is Mauldin's take on the gold price plunge:


Seems as if gold has polarized everyone interested.

Have a good one!

Fleck: Grant is very smart, as well as a great writer .
(posted: 4/23/2013)

Q: Bill:

First, as a charter member, thank you for once again allowing me to pay a pittance for this service. Ask Fleck w/o Mr. Skin, Fred, or TLDM, alone is worth what I am paying.

April is always a bad month for PMs, if your PM position is more than insurance, then you should have been prepared for this. I can only use miners for most of my insurance; I have seen my position go from 40% up to 30% down. Something I have always been very concerned about: completely missing the top.

The reasons I started buying miners, are now on steroids. I would rather be wrong and lose it all then not have the insurance. Wrong would mean that we are back in a bull market, the economy is great, inflations is low, so we could generate plenty of money on the longside.

PM's are probably one of the hardest sectors to trade, to many variables. If you can trade miners you are a better trader than I am, and good luck to you, if not accept the ride. One reader's opinion!

Fleck: Well, it sounds like you have a plan that works for you and are sticking to it. Well done.
(posted: 4/23/2013)

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