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VRA Letter: MidEast Attacks Sending PM’s/Miners & Oil Higher. Q4 Earnings Begin. Banks Are Boring but Housing/Mortgages Signal Strength. Gold Mining Stocks, A Clear and Compelling Investment Case

Good Friday morning. US/UK forces have launched a series of strikes against (Iran-aligned) Houthi group in Yemen in response to their attacks on ships in the Red Sea. The attacks may signal a widening in the Israel-Hamas war (see ...

Posted On January 12, 20244 MIN Read
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Good Friday morning. US/UK forces have launched a series of strikes against (Iran-aligned) Houthi group in Yemen in response to their attacks on ships in the Red Sea. The attacks may signal a widening in the Israel-Hamas war (seen as a key factor of recent Houthi aggression in the Red Sea).

On the news, gold is +$40/oz (2%) to $2060, silver is +$.76/oz (3.3%) to $23.46 and WTIC is +$2.35/bl (+3.2%) to $74.30. The miners (GDX) are trading +2.3% to $29.56.

Also on the news, VRA 10-bagger Tesla (TSLA) is off by 2.8% to $221 as they announce they are shutting down production in Germany (largest European facility) for two weeks due to the strikes and related supply chain issues in the Red Sea. We are buyers of TSLA on this pullback.

Q4 Earnings Kick Off with Major Money Center Banks Reporting

First to report this AM was Bank of America, which disappointed, sending shares down by as much as 5% (down just 2% now). JPM and Citi followed and while their shares initially fell on earn...

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