RE:RE:permit
JCSunsfan wrote: nofluff wrote: looks like it is here!!
nf
Because of the move today? No. That was the entire market this afternoon because of the Fed Chairman's speech. It was very positive about inflation turning a corner.
Corresponded with BB today. No mention of the permit being here. If it was I think he would have told me. I will try to call him tomorrow.
Hold on there a second JC, you need to read the transcript of Powell's statement today because he certainly wasn't opining that inflation is "turning the corner" anytime soon. To the contrary, he very clearly stated the Fed still has much more to do and even intimated more interest rate hikes are coming again. See, the thing is, the markets spoke loudly that they don't believe him. The markets actually believe a substantial recession is likely to come soon and that's the reason he and the Fed will be forced to stop raising rates. Powell was attempting to sound as hawkish as possible in hinting several more hikes are a coming but he actually knows a severe recession will force his hand in reversing course.
Now, as far as to why Taseko share price did a 15 cent US turnaround in the afternoon, that's a great question. Very interesting for sure but doubtful it's due to a permit release, seems much too soon for that to occur. Maybe some insiders (market makers) heard some positive news about the situation but still don't believe it will be made public soon. That said, the reverse in course remains interesting.