Stocks Slide As Jobs Report Keeps Rate Hike Possibility Alive – Ep. 208

* Today U.S. stocks extended their losing streak to 9 consecutive days * We haven't had a losing streak this long since 1980 - that was 36 years ago * 8 consecutive down days last took place in the financial crisis year of 2008, so we had tied that yesterday * Now we one-bettered it and we're back to the longest streak since 1980 * The record for consecutive down days is 12 * The last time that happened was in 1966 * And if you don't know what the significance was of 1966 - that was the peak of the bull market * And the bear market that ensued went on for 16 years in nominal terms and much longer than that in real terms * The Dow hit 1,000 in 1966 and it didn't get above 1,000 until 1982! * Of course, adjusted for inflation, 1,000 in 1982 wasn't even close to 1,000 in 1966 * Certainly in terms of gold; gold was $35/oz. in 1966 and in 1982 it was probably about $500 * In terms of gold, the Dow was slaughtered during those 16 years * Even adjusted for the CPI, I don't think we got back to 1,000 until toward the end of the 1990's stock market bubble * We'll see - we may well be down on Monday, so that would make it 10, and if we're down on Tuesday, 11 * And if Trump wins, then we'll probably be down on Wednesday, so we'll see if we can set this rather dubious record * Gold, on the other hand was going in the opposite direction * It managed to finish the week with a small gain, but nonetheless closing above $1300 * Closing out the week at $1304, that's the highest weekly close in some time * Silver also eked out a small gain of 8¢, at 18.41 * The dollar continued its losing streak of late, with the dollar index closing below .97 with a .96 handle - 96.89 * As stocks are weakening, so is the dollar, and gold is strengthening * What does this portend for the presidential election? * Typically, when the incumbent party wins, which in this case would be Hillary, the stock market rises prior to the election * Normally, when the stock market is falling, it's an indication that they are going to oust the incumbent party * Based on the stock market, one might think Trump is heading for an upset win * Is the stock market falling because it is worried about a Trump presidency, or is it simply falling because it doesn't matter?Our Sponsors:* Check out Chilipad and use my code GOLD for a great deal: https://sleep.me* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy