Al's Insights – Tue 16 Apr, 2013

Peter Grandich says it feels like October of 1987

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Al KorelinPeter Grandich

  1. On April 16, 2013 at 8:04 am,
    CFS says:

    What we have just witnessed is yet another example of the competence of governments.
    The total failure of the CFTC Commission to regulate against naked shorting ALLOWED the collapse in precious metals.
    Clearly the commission should be forced to do their job or scrapped.
    We could, at least, then stop wasting money on the salaries of total incompetents.

    • On April 16, 2013 at 8:28 am,
      Big Al says:

      Wait until you read the next post from The Daily Telegraph!

      Big Al

      • On April 16, 2013 at 11:12 am,
        CFS says:

        Big Al, Cart and horse.
        The funds had to divest after the price dropped, due to redemptions.

    • On April 16, 2013 at 11:13 am,
      Art says:

      How can they trade something that DOES NOT EVEN EXIST ??? It is beyond my comprehension! We should be thankful they can’t print gold ! THIEVES shorting “imaginary gold” on paper.

      • On April 16, 2013 at 1:01 pm,
        marc says:

        Hear, Hear! My friend!

      • On April 16, 2013 at 4:16 pm,
        Big Al says:

        Great point Art!

        Big Al

    • On April 16, 2013 at 9:14 am,
      irishtony says:

      cfs……Thanks for the link , interesting.

    • On April 16, 2013 at 4:21 pm,
      Big Al says:

      Yes, thanks cfs.

      I have to wonder, by the way, just what is hiding in Oblivion?

      Big Al

  2. On April 16, 2013 at 8:25 am,
    benb says:

    Not sure i would agree with an upward trend just yet. Margan requirements were raised at the cme, last time they were raised it caused a selloff. So this could be a bounce, I think its wait and see for now.

    • On April 16, 2013 at 8:30 am,
      Big Al says:

      A smart person always waits to see!

      Big Al

  3. On April 16, 2013 at 8:27 am,
    Dick Tracy says:

    I think Peter Grandich’s premonition is right about us being at or near October 1987’s crash.

    In the middle of the night my cat wanted out and he was so annoying that I started calling him Lumpy Rutherford, a name I haven’t used in many decades, so I too had a premonition because when I checked the news in the late morning, low and behold Frank Bank has just died and he played Lumpy Rutherford on “Leave It To Beaver.” He will be sorely missed, but in conclusion I should have called my cat Eddie Haskell because he was truly the annoying actor on the Beaver. DT

  4. On April 16, 2013 at 8:32 am,
    Big Al says:

    Interesting about premonition!

    Big Al

  5. On April 16, 2013 at 8:46 am,
    MNH says:

    It’s not going to be a rebound.
    It’s going to reset.
    More and more reason to think we are at the doorstep of a FORCE MAJEURE with both Gold and Silver.

  6. On April 16, 2013 at 9:17 am,
    Frank Drummer says:

    Say what you want about Grandich but you can count on just one hand the number of Talking Heads, Analysts, Newsletter Writers and the like that actually admit when they’re wrong and are humble when they’re right. I thank Al for making him one of the regulars.

    • On April 16, 2013 at 9:21 am,
      irishtony says:

      Frank…DITTO…..IT’s imperative that people read between the lines.

    • On April 16, 2013 at 4:22 pm,
      Big Al says:

      HI Frank,

      Yep, Peter is a good guy!


      Big Al

  7. On April 16, 2013 at 9:18 am,
    irishtony says:

    MNH…..You know something…You could be right…Nobody appears to be able to get their head around whats happening……..There be moves afoot in the shadows.

    • On April 16, 2013 at 12:55 pm,
      MNH says:

      Silver market is smaller….it’ll go first.

  8. On April 16, 2013 at 12:04 pm,
    James (the lesser) says:

    Gold and silver fading, looks like more downside coming

    • On April 16, 2013 at 4:23 pm,
      Big Al says:

      I am not really sure of that The Greater!

      Big Al

  9. On April 16, 2013 at 12:30 pm,
    James (the lesser) says:

    Still selling into every rally.

  10. On April 16, 2013 at 1:34 pm,
    James (the lesser) says:

    A lot of people here buying into the scare tactics and conspiracy theory hawksters without any real proof. These guys have absolutely no skin in the game and people are following them as if what they say is gospel. If COMEX was going to default silver would be about $500 by now. These guys are selling fear and greed

  11. On April 16, 2013 at 1:38 pm,
    Bobby says:

    Nice pop today. If this keeps up we can be even in a month. ( don’t take this as investment advice)

  12. On April 16, 2013 at 1:40 pm,
    James (the lesser) says:

    Nice pop? Gold and silver are dragging across the finish line just to break even. This is still the classic slope of hope!

  13. On April 16, 2013 at 2:19 pm,
    James (the lesser) says:

    Gold gives back $90 from today’s high

  14. On April 16, 2013 at 2:51 pm,
    James (the lesser) says:

    The blog is quiet today compared to yesterday. I think reality is setting in. There is no joy in Mudville Mighty Casey has struck out…

    • On April 16, 2013 at 3:49 pm,
      Timothy says:

      James, I see based on the number comments you post on this site that either you are off today ore you must be retired. You’re too concerned with whats going on right now. Take a step back and get your mind on something else.

      Wasn’t it you a while back that was quoting scripture.

      Need I quote some to bring you back into the right perspective.
      Some trust in chariots and some in GOLD but we will remember the name of the Lord our God.

      These are only temporal things and by the way, like you I have temporarly lost more than 400K IF I SOLD TODAY (Which I wont) and I can honestly say it doesn’t bother me one bit.

      Remember, we’re not suppose to trust in earthly things.

      • On April 16, 2013 at 4:24 pm,
        Big Al says:


        Many, many thanks for your dose of reality.

        God bless,

        Big Al

      • On April 16, 2013 at 8:49 pm,
        Irwin says:

        “I’m satisfied with just a cottage below
        A little silver and a little gold
        But in that city where the ransomed will shine
        I want a gold one that’s silver lined.”

        • On April 17, 2013 at 7:54 am,
          Big Al says:

          If I understand you (and I believe that I do) I am with you 100% and, trust me, that is all that keeps me sane!

          Big Al

  15. On April 16, 2013 at 6:14 pm,
    Paul L says:

    I jumped in again today with some gdxj and got out after the small rally showed signs of failing. My Intel shot up today and I have a large number of shares.

  16. On April 16, 2013 at 8:59 pm,
    richard says:

    Paul, be very careful the next 2-3 weeks with Intel. They have a nice dividend and that’s about the main positive for the stock. The stock price is approaching some very key technicals especially the 50 week MA which is coming down to meet it in the next 2-3 weeks. Earnings missed this quarter by one penny and revenue hit estimates. This is the kind of stock that will tend to move with the movement of the market not because it looks like it’s going to blow out earnings’ expectations. In fact the CEO doesn’t expect revenues in the near future to grow more then low single digits. There isn’t a lot of room for error.