Weekend Show – Sat 11 Jan, 2014

The Resource Sector

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Featuring:
Al KorelinCory FleckJeff DeistValentin SchmidBill HowaldPeter Klein
Glen DownsPeter GrandichRichard PostmaRick Ackerman
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Comments:
  1. On January 11, 2014 at 1:49 am,
    HEAVYHITTER says:

    ITS GONNA GET NASTY THIS GOLD TRADE

    High odds going down to test the double bottom.

    Then we should take off for the 1300’s

    Another correction of good size before we get to the 1400’s.

    Then back down to under 1100.

    This is traders market for now

    Tax loss selling bounce in the new year was pathetic.

    Oil long term looks to be in trouble on its way to 50

    Equity market could have a huge correction deflating everything
    Over the next year.

    SO, I’M TRADING THE MINING COMPANIES SELLING ON BIG UP DAYS
    AND BUYING THEM ON HUGE CORRECTIONS.

    There is no way to stay invested in this gold market without
    Trading it. VERY HIGH RISK…BUY AND HOLD.

    My game plan changed to trading it. Up to 1450 and
    See if gold has any legs to stay on after we hit the
    1400’s.

    I DON’T BELIEVE THIS IS YOUR USUAL GOLD BOTTOM. ITS A
    TRADERS MARKET FOR NOW.

    IMVHO…..see ya in a few weeks if anything changes.

    • On January 11, 2014 at 3:56 am,
      Vortex says:

      HH,

      PM bulls that choose to remain stubborn and inflexible in the face of black swans lurking under every rock are not just going to be humbled by the market, their going to be rendered insolvent with a buy and hold mentality.

      2014 may well bring so much volatility that the resulting normalcy disconnect factors may well make this one of the most dangerous markets ever.

      If there ever was a good time to be extremely nimble, while utilizing a quick trade philosophy in the gold and silver shares space or even the greater mining sector in general, 2014 may well be it.

      • On January 11, 2014 at 7:50 am,
        HEAVYHITTER says:

        Precisely Vortex…..unless we get a event that drives gold up but it will
        always go back to it means. Oil is a biggie with the US almost independent.
        Gold has been going down looking ahead. Baby boomers are retiring now
        they are not going to be buying very much. Harry Dent has a good argument
        and he’s been wrong but although he has does not mean this artificial economic
        miracle will continue just printing money. I’m not so sure if they want the dollar
        to collapse just yet. First would come another great deflation so the elite can buy
        everything for 10 cents on the dollar. THEY GOT RICH LAST TIME ONLY THIS TIME
        WOULD REALLY LINE THEIR POCKETS. Just food for thought. Holding long term
        almost bankrupted Buffet in 09 but we all know what happened. Buffet would be
        broke today with no bail out. Real estate investors are still suffering holding long
        term. With no bail out they would all be broke today.

        Anyway, its all gambling but at least you do own something if its paid for. Still you
        can lose lots and if your investment is money you need in 3 years and it could take
        10 your taken out o the woodshed.

        So trading something is fine as long as you have a target. However, that target is going
        to come with major corrections along the way and its much safer to take profits. If we
        have another 08 and it looks likely being in cash with profits much better than waiting
        for a market to come back in 5 or 10 years or longer.

        ITS JUST REALITY…..real estate is not out of no woods and neither is equities….NOR
        GOLD. Major investments in anything can send one to the poor house. Diversification
        is not always the answer either especially if we get another crisis.

        BEST ADVISE I’M TAKING MYSELF IS TO STOP ALL SPENDING JUST NECESSITIES ONLY.
        Spending on things we don’t need most always comes back to bit us later. We have a
        permanent crisis were in and the future is very uncertain. Anything can happen…real estate
        crashing again because its way over bought to speculators on wallstreet. Stocks are way
        overvalued now. These bubbles pop and gold will go down too. Depends if its a controlled
        decline and I rather doubt it. The mining shares could be predicting something very ugly
        will happen. They did break long term support. Oil is heading down.

        WE ALL NEED TO WONDER IF ITS WORTH ALL THE PAIN INVESTING JUST TO
        LOSE MONEY. My view is strongly against it and to take my profits with me. IMVHO

        • On January 11, 2014 at 9:09 am,
          Al Korelin says:

          I like your curtailed spending comment, Heavy!

          • On January 11, 2014 at 5:21 pm,
            JERRY the Long..................O^OTB says:

            ditto………………the time to hunker down has arrived ,,,arrived about two years ago.

      • On January 11, 2014 at 9:06 am,
        Al Korelin says:

        Not if you have a long term horizon which is mine. Should be good for the kids and it just feels right for me. See my comment to Heavy.

    • On January 11, 2014 at 9:03 am,
      Al Korelin says:

      Okay Heavy, here is my deal. I am going to average into the silver market on a weekly basis. Not real big but regularly.

      • On January 11, 2014 at 10:06 am,
        HEAVYHITTER says:

        Silver is the best and safest precious metal play. SO IF YOU ARE LONG TERM ITS MAKES
        THE MOST SENSE. The corrections I feel moving forward are going to be steep. We are
        definitely going up to 1450 gold give or take a few but its not going to be easy getting there. If gold peters out then we will see under 1100 gold after this rally. This rally though like I said is going to have some very steep corrections possibly. So for me I will
        not tolerate babysitting my positions and having it all get taken away. I’m playing with huge capitol and I’m leveraged as well. Makes a big difference but still anyone who gets in even with no leverage with some good funds will feel these steep corrections I feel are going to ensue. Right now we are most likely see 1280 gold give or take a few and then head back down again to under 1200 testing or breaking the last low. Then head back up again to 1300’s. Then back down again and then back to the 1400’s then the real steep correction under 1100.

        THESE ARE BIG POSSIBLITIES…..so here you are made a lot of money just to give it all back and losing money with…LONG TERM THINKING.

        MOST LIKELY THIS IS A TRADERS MARKET…..FOR NOW ANYWAY.

        Best to buy all nice corrections and sell the healthy rallies up to 1400’s in gold.
        Mining shares and silver as they will all go down together.

        • On January 11, 2014 at 10:29 am,
          HEAVYHITTER says:

          ADDING TO IT…So if someone is wrong on not taking profits during this rise to 1400’s in gold most likely that person will be made whole when it finally gets there with possible major corrections along the way. Then if they refuse to take profits at near 1400’s in gold then they might have a long time before they see their money again.

          THIS MARKET IS VERY DANGEROUS RIGHT NOW. And I’m not taking the chance.

          WHY…BECAUSE ITS NOT WORTH IT. Greed ruins peoples lives. THATS NOT WHAT I
          WANT.

          • On January 11, 2014 at 8:25 pm,
            Al Korelin says:

            Greed is absolutely very dangerous!

            My philosophy: hard asset commodities = long term; resource stocks = short term or less than three years; and, big board stuff = mid term with constant vigil.

    • On January 12, 2014 at 7:53 pm,
      bj says:

      IF oil drops below 90 and stays there for a while the costs will exceed revenues for some companies and supplies will dwindle. Boone Pickens stated this a while back during an interview on financial TV. Also, Obama and his greenies don’t want the price to fall because it makes renewables lessc competitive. So if we might get a flash crash, although unlikely given the size of the petro market, but I doubt they can keep the price down unless the global economy goes to hell in a hand basket. In that case, we’ll be in a world war and oil should go up–maybe even rationed.

      Remember in the 70s when they bumped the price of gasoline up close to 100% and it never went back down. Now here we are withinstant replay $1.50 to over $3.00/gal.

  2. On January 11, 2014 at 3:34 am,
    cfs2000 says:

    THOUGHT FOR THE DAY:

    Yesterday is history,
    Tomorrow’s a mystery,
    Today is a gift,
    Maybe that’s why it’s called the Present.

    Methinks I will present myself with a present of real coin presently. Silver and platinum first; then gold.

    • On January 11, 2014 at 9:10 am,
      Al Korelin says:

      As you can see from my comments CFS I am with you!

  3. On January 11, 2014 at 4:11 am,
    Andrew de Berry (Rev) says:

    Nicely put cfs. All other opinions on this site are no more than that – just opinions! A

    • On January 11, 2014 at 4:28 am,
      Bobby says:

      so true Andrew…however some have been proven correct, others wrong. Identifying the proper course of action (trend) is the key to wealth.

      • On January 11, 2014 at 9:11 am,
        Al Korelin says:

        Along with time frame Bobby!

  4. On January 11, 2014 at 5:26 am,
    Billy Bob says:

    Hey….The good thing about this gold pop is that my Gold Stocks are UP UP UP!!!

    I am only down 75% now!

    I think I’ll run out quick and spend the profits before it’s all gone again. The wife and I have decided to go out tonight and split a hamburger.

    • On January 11, 2014 at 9:12 am,
      Al Korelin says:

      And a chocolate shake?

  5. On January 11, 2014 at 7:53 am,
    Dennis M. O'Neil says:

    What are the IMF plans for our future?
    Does the IMF start with smaller countries and work its way to larger ones?
    Watch the following clip on how the IMF literally enslaved Jamaica in debt.
    The clip came to my mind when I heard the name Stanley Fisher in the news as a support for Janet Yellen at her new post.
    Stanley makes an appearance sickly justifying IMF methods.
    Internalize that IMF methods have been a monetaray blessing to the US…. making us friends nowhere. Are there any ‘free markets’. Tell that to Jamaica.
    Why is it that the smallest countries tend to have been on the Troika block first. Is it a happenstance that Europe is cued up in a troika line from small to large.
    Maybe the IMF has to digest the small slaves states first. Maybe Jamaica was a 70’s experiment for the IMF.
    Watch the informative clip with an in the news Stanley Fisher interview spot.
    Headphones recommended if you like reggae.
    http://www.youtube.com/watch?v=gMMYEGPsD9c

    TKERMOTW

    • On January 11, 2014 at 8:49 am,
      JERRY the Long..................O^OTB says:

      thanks Dennis for the post…
      Yesterday, I questioned ,,what Fischer would have to do with the FED as Obama elected him to the board………….There is definitely something going on ……….Obama ,,has an agenda……….And nothing Obama does is beneficial for the USA……….
      The poorest excuse for a president since,,,,….well,,,,Bush, 1 and 2,,Clinton , Ford, Carter, Nixon, Johnson and FDR…………

      • On January 11, 2014 at 8:49 am,
        JERRY the Long..................O^OTB says:

        fORGOT………WILSON……….

    • On January 11, 2014 at 9:13 am,
      Al Korelin says:

      Thanks Esq.

    • On January 11, 2014 at 12:10 pm,
      Irwin says:

      Good clip Dennis;
      Canadian dollar is dropping like a stone; not because of IMF as in Jamaica’s case, but because of Bank of Canada governor’s policy.
      Mark Carney was proponent of strong dollar policy – Stephen Poloz not so much.

      Since Carney left our rugged shores on July1, 2013
      CEF.A(to) is up 5.4% and CEF(ny) is down 0.5%
      -strictly a reflection of currency devaluation
      http://stockcharts.com/h-sc/ui?s=CEF/A.TO:CEF&p=D&st=2013-07-01&en=%28today%29&id=p05595499467

      • On January 11, 2014 at 4:25 pm,
        franky says:

        What a BASTERS BANKERS ! tanks IRWIN aaaaa !

        • On February 1, 2014 at 9:59 pm,
          Ashish says:

          Thanks for writing such an ean-sto-underytasd article on this topic.

  6. On January 11, 2014 at 8:33 am,
    Dick Tracy says:

    Valentin Schmid makes some good points but I don’t know whether his statistical source on China really means much statistics often are used to cover up lies and so I don’t put much credence in them.

    I find that China is making more of the right moves than the west. They are now buying up land and derelict auto facilities in The Detroit area for peanuts, soon you will see economy cars rolling out of these facilities destined for The US market. Is this another smart move, I think so. We all know that China is saving US currency to pay cash for much of what they buy overseas and just like Japan and Germany you start by making toys and progress into more complicated and integrated products. They are now advancing their manufacturing to a stage where they own foreign factories and not so much the other way around. DT

    • On January 11, 2014 at 8:43 am,
      Dennis M. O'Neil says:

      DT,

      You just about nailed it.
      You will not “see economy cars rolling out of these facilities”.
      In a recent rare mishap disclosure it was revealed what China sees for the future Detroit manufacturing.
      http://ebookclipart.com/600/vector-clip-art-of-a-black-and-white-human-factor-chinese-person-pulling-a-customer-in-a-cart-by-leo-blanchette-729.jpg

      DB-over and out!!!!!!!!!!!!!!

      • On January 11, 2014 at 9:00 am,
        Dick Tracy says:

        Hi DB, The Chinese know that the rest of The World has reached a saturation point with their cheap lookalike products this is not a limitless market so they are expanding overseas and we need to be very worried about there presence. DT

        • On January 11, 2014 at 9:16 am,
          Al Korelin says:

          Yup, yup and yup Machine Gun!

          • On January 11, 2014 at 2:43 pm,
            SD Marc says:

            DITTO Guys…Ditto!

        • On January 11, 2014 at 9:28 am,
          Dennis M. O'Neil says:

          I find it odd how when talking about trade advantages that early on in the discussion inevitably China’s currency manipulation surfaces.
          I find it odd because it always comes from someone griping about the unfairness of currency manipulation when it placing them at a disadvantage. What they fail to realize is that their own central bank is busy at manipulation as it’s primary function.

          At some point fundamentally after a lot of painful…. even lethal….experiences there will hopefully arise the realization that debt is not money.

          What is money? A worthy fundamental consideration to explore!

          http://www.bing.com/images/search?q=chinese+pull+cart+taxi&qs=n&form=QBIR&pq=chinese+pull+cart+taxi&sc=0-18&sp=-1&sk=#view=detail&id=0971BF2FA8CB7B8755B10F8442966B701AFCFE2D&selectedIndex=10

    • On January 11, 2014 at 9:14 am,
      Al Korelin says:

      Thanks for that comment, MachineGun

  7. On January 11, 2014 at 8:49 am,
    Matthew says:

    Re: segment 5
    It is also bullish that many exploration juniors are above their 200 dma (of which, I own 5).
    I mentioned recently that exploration juniors have been outperforming safer, larger juniors, overall, since the first half of 2013. The implications are bullish longer term. GLDX:GDXJ is also above its 200 dma and has been since November.
    It looks to me like gold will extend its gains going into next week.

    • On January 11, 2014 at 10:13 am,
      HEAVYHITTER says:

      I agree we are going up to about 1280 gold and then a big correction of higher odds down to under 1200. See what happens but I’m trading this market buying on all nice corrections and selling on healthy rallies up to 1400’s in gold.

      I MAINTAIN THIS IS A TRADERS MARKET. HOLDING LONG TERM COULD BE A LOSER.

      • On January 11, 2014 at 8:28 pm,
        Al Korelin says:

        I agree Heavy as your thoughts pertaining to stocks!

  8. On January 11, 2014 at 9:16 am,
    Dai Uy says:

    There is an excellent, albeit somewhat scary interview, of David Stockman and his thoughts on worldwide macro economics on KWN this morning.

  9. On January 11, 2014 at 10:04 am,
    Dennis M. O'Neil says:

    From the for what it is worth category…………..
    Also from my Snapple cap………..
    “Real Fact” #937…..
    Squirrels lose half the nuts they hide.

    Now I do not feel so bad!
    I wonder what percent the infamous “Blind Squirrrel” loses?

    • On January 11, 2014 at 11:20 am,
      Dick Tracy says:

      Dennis I was just shopping in the grocery store and I had my Ford Built Tough coat on and a little old lady with a bundle buggy ran me over, does this sound familiar. DT

    • On January 11, 2014 at 11:34 am,
      JERRY the Long..................O^OTB says:

      Dennis……….”.Blind Squirrels” hand on to the tails of their mates,,, and get half of what they uncover together…………

      • On January 11, 2014 at 11:41 am,
        Dick Tracy says:

        Jerry, people think that Irish Tony is a squirrel, he can’t remember where he buried his nuts and when he starts digging all he finds is silver. DT

      • On January 11, 2014 at 8:31 pm,
        Al Korelin says:

        We all need to do that Jerry!

    • On January 11, 2014 at 8:30 pm,
      Al Korelin says:

      Make that the FAMOUS blind squirrel!

  10. On January 11, 2014 at 10:24 am,
    Phil says:

    Al, where is Bob Moriarty this weekend?
    He said we were bottoming since Mayish. Many stocks are consolidating and breaking out. This could be a good tradable rally. Best to ignore the news and let the market tell us.
    It’s shaping up to look the best in a couple years. Stocks should dictate where gold is going with forward discount of the market???

    • On January 11, 2014 at 8:32 pm,
      Al Korelin says:

      Bob is overseas on a property visit.

  11. On January 11, 2014 at 10:31 am,
    Dennis M. O'Neil says:

    Summarizing David Stockman’s KWN interview in a phrase……

    Malinvestment eventually proves itself.

  12. On January 11, 2014 at 10:57 am,
    Tony says:

    Thanks AL for having Bill from RPM explain their upcoming plans.
    I look forward to the announcements.

    • On January 11, 2014 at 8:34 pm,
      Al Korelin says:

      I am too, Bill! I have faith in these guys!

      Big

  13. On January 11, 2014 at 11:27 am,
    Dennis M. O'Neil says:

    An article about the replica city built out to spec in China.
    Interesting it is like a slice of Epcot imbedded in rural China.
    If your wife ever wants to travel the world….take her to Orlando for 1 week. Go EPCOT for two days then golf the rest of the week.

    http://english.sina.com/china/p/2012/0605/473731.html

  14. On January 12, 2014 at 12:52 am,
    Dick Tracy says:

    One issue I would like to see discussed on The Korelin Report is the effect that a crypto currency would have on our day to day living, I find the effects could be very scary in the complexities of lifestyle, and in the control it would give banks and others over our finances. DT

    • On January 12, 2014 at 8:59 am,
      Al Korelin says:

      Fair enough, Machine Gun

  15. On January 12, 2014 at 1:32 am,
    Andrew de Berry (Rev) says:

    A few days before the 1929 Crash there were economists who reasoned that stock prices would remain at their current highs indefinitely. It was only the likes of Al Capone and Charlie Chaplin who saw the rise in share prices as fraudulent, and unsustainable.

    http://consciouslifenews.com/greatest-truth-told-congress-robert-gray-humanity-going-wait-permission-survive-video-plus-transcript/1133422/

  16. On January 12, 2014 at 8:21 am,
    Gary Wilson says:

    Change of Subject, Interesting article and graphs on silver on 123gold
    http://www.321gold.com/editorials/chapman_d/chapman_d_011214.pdf
    It may be awhile, but I think we’re headed north.

    • On January 12, 2014 at 9:00 am,
      Al Korelin says:

      Certainly would think so, Gary!

  17. On January 12, 2014 at 11:41 am,
    Andrew de Berry (Rev) says:

    Al Korelin are you and Big Al one and the same?

  18. On January 12, 2014 at 12:38 pm,
    Gary Wilson says:

    My wife and I were listening to Al and Cory this morning, and she thought Cory had a nice voice and asked me if I knew if he was a singer or in the choir at a church. Well are you Cory?

  19. On January 12, 2014 at 2:27 pm,
    Jerry(Gator)M says:

    Great interview with Grandich. Take heed and listen as he makes total sense.

    http://bullmarketthinking.com/wp-content/uploads/2014/01/182013grandich1.mp3

    • On January 12, 2014 at 7:30 pm,
      b says:

      Good interview Gator. I think Bob Moriaritys advice was get all the physical you think youll need then everything else, after that if you have any cash left over then maybe throw it at the market. Peter is kinda sayin the same thing, all the “tools” they have is sorta like seeing every card dealt. Tuff to win.

  20. On January 12, 2014 at 2:36 pm,
    Jerry(Gator)M says:

    I served as a commodities broker trainee in the early 70’s with Merrill Lynch and experienced exactly what Grandich is talking about. I was trained to sell financial vehicles and commodities to people who knew nothing about the markets and ML knowing the instruments would fail. I was then taught to take the opposite side of the trade. I was let go when I refused to accept the doctrines set down by Merrill Lynch for trading stocks and commodities. I can’t imagine that there any honest people left in the brokerage houses knowing first hand what they are taught to do. The most aggregious trades were the pork belly trades. People were investing every last dime they had because they watched limit up days in pork bellies and were told they had to get in now.
    Well they got in at the top and the very next day bellies went limit down and the investors watched their entire investment evaporate in a matter of hours. Guess who was on the other side of the trade.

    • On January 12, 2014 at 2:59 pm,
      HEAVYHITTER says:

      Peter does not see any crash in equities. Just a decline over a few years with some huge upside bear rallies. If what Peter says plays out with no crash type declines is a guaranteed winner for the metals. Make no mistake about it we could be seeing the start of a big new bull in gold.

  21. On January 12, 2014 at 5:05 pm,
    Dick Tracy says:

    Jerry, O’OTB, remember Valentines day is coming in February, take your honey out for a night of dining and dancing, they will never forget your romantic overtures. DT

    • On January 12, 2014 at 6:22 pm,
      JERRY the Long..................O^OTB says:

      DT…..THANKS FOR THE REMINDER………. I am planning to be on the beach in Florida in Feb. and plan on having a great time…..The honey and I will be moon lighting by the ocean , star gazing and wondering what comes next…. Will be counting sand dollars and combing the beach for any gold rings which may have slipped off the fingers of the elderly……………IT IS A GREAT TIME TO BE RETIRED…………..

  22. On January 12, 2014 at 5:17 pm,
    Dick Tracy says:

    Gold is now testing that $1250 level but according to the fortune tellers we must make it above $1268. DT