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Welcome!

From the PDAC in Toronto, Ontario

ker
March 8, 2014

Hour 1: 

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Hour 2: 

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With the exception of one segment with Bob Moriarty, our entire program this week originated from the Prospectors and Developers Association of Canada Conference held this past week in Toronto, Ontario. It is the largest conference of its kind in the world, and Big Al was honored to be a speaker on the first day.

Hour 1:

Hour 2:


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Discussion
133 Comments
    B
    Mar 08, 2014 08:39 AM

    Toronto, you say???

    Big Al, you need to give Cory a rest.

    He needs to meet a nice girl and settle down and that’s not going to happen if you are sending him to all corners of the earth.

    Instead he should meet a nice girl, maybe a nice Soho doll like this one

    http://www.youtube.com/watch?v=d4uA3t9AOUw

    I understand those British gals really go for Canucks

    Bill

      Mar 08, 2014 08:26 AM

      HI Bill,

      Cory is one of the greatest things to happen to this business.

      More importantly than that, he has a great girlfriend (actually much more than simply a girlfriend) who Kathy and I adore. He is a very lucky man!

        Mar 08, 2014 08:54 AM

        Zero Fahrenheit, wow that is -17.7 Celsius. Brrrrrrrrrrrrrrrrrrrr!

          Mar 08, 2014 08:50 AM

          That is about what it was back there Silverbug

        Mar 08, 2014 08:10 AM

        Well, that’s good to know Big Al. But I have to admit that Soho doll is gorgeous.

          Mar 08, 2014 08:51 AM

          Shannon is a great Irish lass!

    Mar 08, 2014 08:20 AM

    A repost from yesterday…

    Many people are not going to like it but today’s gold price grade is a “D+”

    I am not giving it a “D+” because of the amount of the drop, which wasn’t all that much.

    I am giving it a “D+” because it failed to take back $1340.

    Look at the price action today.

    Gold had all day to come back from the NFP take down, and it couldn’t.

    The bears drew a line in the sand and gold couldn’t cross it.

    The bears said “Show me your hand” and gold had nothing.

    I said yesterday the NFP report would be the excuse to whack gold.

    It didn’t matter what the number was. It was used to hijack gold.

    And that it did

    If you know anything about the game of chess you know it is a war of time and space.

    Gold too is in a war and it is rapidly running out of time and there no longer is any space for days like today.

    I can’t fathom how anyone can seriously give gold an “A”

    What would you give it if it ever got back to $1900?

    No I think the grade is accurate.

    Today gold battled all day to take out $1340. The price hardly moved a buck in either direction once the battle around $1340 was drawn.

    Even in the last minutes of closing gold poked its head at $1340 only to be pushed back again.

    It missed by 50 cents on the bid.

    You say why quibble.

    Because gold had every right to come back after the NFP hit and it couldn’t.

    With restrictions loosening in India, tensions in Ukraine and gold manipulation starting to become main stream gold should be stronger.

    The story is in the price.

      Mar 08, 2014 08:40 AM

      James,
      I think you are making a mistake by only looking at daily price. You need to look at price in context of where gold is at in it’s daily cycle. First off an average cycle typically runs from 18-28 days trough to trough. Yesterday gold was on the 25th day of it’s cycle and overdue for a corrective move down into a daily cycle low.

      Now it’s possible that the cycle bottom occurred Feb. 28, but if not then it’s going to arrive next week. The important consideration is how deep gold is in it’s cycle right now. If gold is going to drop early next week into that cycle low then it’s unlikely to last more than 2-3 days because it’s too late in the cycle for it to have much time left to find that bottom.

      Once the bottom is in (watch for a swing to mark the bottom) then gold will begin the next up phase of a brand new cycle. That up phase will probably test that major resistance zone at $1425.

      That level may very well be too much for gold to break through during this larger intermediate cycle, but I think the odds are very good that gold at least reaches $1425 before the sector moves down into a multi-week correction into May or June.

      Mar 08, 2014 08:27 AM

      Time frame, James, time frame!

        Mar 08, 2014 08:55 AM

        Looking at the daily gold chart on stockcharts.com or the 30 day and 1 year charts on Kitco, the momentum of the gold rally is fading. However, if Doc is right and gold goes sideways to down, it might meet the 50 and 200 day moving averages in about a month.

          Mar 08, 2014 08:51 AM

          Good observation Silverbug

      GH
      Mar 09, 2014 09:40 AM

      I note that silver and SIL are leading to the downside. But am definitely on alert that Gary’s scenario may be right–it may only have a couple more down days in it.

    CFS
    Mar 08, 2014 08:29 AM

    Segment 1: Has Mr. Rule changed his tune slightly? I will have to go back and listen to him over the past few months. I have always thought him very intelligent, but never known him to talk his book so obviously. He sounding more like being a promoter to me.

      Mar 08, 2014 08:05 AM

      Really? I thought he was sounding more like a sensible trader who plans to avoid the pitfalls ahead that he acknowledges exist. I did not hear the rah, rah this time but rather deliberation and good sense.

        Mar 08, 2014 08:30 AM

        My thoughts exactly, Bird!

      Seg. 1…..CFS..,I think you are correct , in that RICK may be changing his tune.
      Looks like he is starting to talk about other investments., rather than just PMs.

        Mar 08, 2014 08:31 AM

        I have no problem with anyone who talks about diversifying.

          I have no problem with diversification………..
          I just think that a SPECIALIST , can not be an expert in ALL fields….and diversification is not an option for a SPECIALIST ,,, therefore, if he chooses to be a trader,,,no problem…..I just would not value his recommendations as highly as a SPECIALIST……

            Mar 08, 2014 08:36 AM

            So how do I get a subscription to the Owl Coinland Report, OTB?

            Mar 08, 2014 08:53 AM

            Well now, “The Owl” that is an interesting point.

            I heard Rick to talk about the various facets of the resource sector. To me that is simply stating caution about a facet of that sector.

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      Mar 08, 2014 08:29 AM

      My personal opinion is that Rick does not have to talk his book. He is one of the best in our business out there and people like that are way beyond “talking their book”!

    Mar 08, 2014 08:46 AM

    Gary, thanks. I will keep this in mind. Interesting stuff…

      Mar 08, 2014 08:31 AM

      Yep The Greater, this investment sector is truly “interesting stuff”!

    Mar 08, 2014 08:53 AM

    At times, Rick Rule has sounded like a promoter but it sounds like he’s taking a page out of my personal book at this time. Recently, I lightened up on some stocks and mentioned it. We’ve had a short tem bounce in a lot of stocks and are still in the process of forming a bottom. The solid stocks are the place to be right now; not the high flyers without liquidity and actual reserves. Many of the stocks that have a good run are now in the process of coming back. It’ll become a good time to purchase them and add to positions. We’ve had a wrenching bear market and it takes time to bottom in that kind of market. Those taking patient positions in well run companies will benefit in a big way in the future. I might add that I’ve mentioned in the past that PGMs (especially palladium) are a good place to be and Rick feels the same way.

      Mar 08, 2014 08:33 AM

      “A wrenching bear market” Doc?

      That is the understatement of the day!

        Mar 08, 2014 08:57 AM

        Looking at the daily gold chart on stockcharts.com or the 30 day and 1 year charts on Kitco, the momentum of the gold rally is fading. However, if Doc is right and gold goes sideways to down for a while, it might meet the 50 and 200 day moving averages in about a month.
        How long does Doc think the bear market is gong to last, ie the bottoming process?

          Mar 08, 2014 08:49 PM

          Silver, you are absolutely correct in your statement that the gold rally momentum appears to be fading. A very important technical not many people are looking at is a long standing down trendline that began on the weekly charts in Oct., 2012. The gold price last challenged that trendline in about March of 2013. Only now are we about to challenge it again. The odds of bursting through it on the first try after this long of a hiatus are unlikely. Next week may find us once again moving up minimally to kiss that line but a lot of my charts signal the beginning of a further sell off. Your big question is how long do I feel this bottoming process will last. I believe the move up could be a slow process instead of the quick move that so many hope for. It goes to my thinking that this bull market will be with us a lot longer then a lot of the experts have been saying. One of the charts that color that perspective is the long standing silver chart that could be telling us that silver pricing is potentially forming a huge “cup and handle” formation. If that is the case, it would match my feeling for a slow progress in the gold market of higher lows and higher highs over time. The rims of the silver “cup” took almost 30 years to form—-1981 to 2011. That would then suggest an appropriate time for the “handle” to form. If you look at the historical chart of gold and the long standing uptrend line which we just recently bounced off and if we remain true to that uptrend line over time; the latest we take out the highs in gold ($1930) would be sometime close to 2019. Now that doesn’t make me feel it’ll take that long but it gives you an idea how patient we might have to be. Do I believe we’ll challenge the old time highs this year?—-not likely although I feel that sometime in the fall we have good odds of establishing a higher high then Sept. of 2013. I keep feeling we’re in a massive long term PM bull market and time is on our side. I’ll keep updating my thoughts on this long term bull market and have given you (from my perspective) the worse case scenario for the bottoming process and the next challenge to the 2011 highs.

            Mar 08, 2014 08:18 PM

            Thanks Doc!

            Mar 08, 2014 08:22 PM

            Fascinating Doc. Now that was an interesting post. My assertion is also that gold will build slowly this year although I have never taken a guess at how many years the process would play out. Anytime I hear someone talking 1500 dollar gold in 2014 I just roll my eyes and skip the rest of their post because it is just dreaming and pumping. The gold community really has to learn to be more patient.

        GH
        Mar 09, 2014 09:43 AM

        We’ve been keelhauled!!!

          Mar 09, 2014 09:57 AM

          Regarding?

            GH
            Mar 09, 2014 09:15 PM

            This ~3 year cyclical bull in precious metals and natural resources…hope it come up before I run out of air!

            GH
            Mar 09, 2014 09:16 PM

            oops—cyclical BEAR

      Mar 08, 2014 08:44 AM

      I would hope (very sincerely) that it does CFS.

      Here is an interesting question that may not be totally ridiculous. What would Washington do if Texas decided to leave the U.S.? Hand it a bunch of economic aid so that they could do that? Probably not.

      Now I know that Texas succeeding is a bit of a extreme example. But when you realize the demographics of the Crimean region, it may not seem so extreme.

        Mar 08, 2014 08:59 AM

        We should stay out.

        Just look at the comparison of the “leaders.” Obammie has not chance.

        http://www.tomatobubble.com/putin_obama.html
        http://thepeoplescube.com/peoples-blog/putin-vs-obama-pictorial-comparisons-t12846.html

        Mar 08, 2014 08:29 PM

        When Quebec was thinking of breaking off with Canada that discussion certainly came up. Some Quebecois framed it as a marriage gone bad and the idea was to divvy up assets like any divorcing couple might do. That would also mean transferring money to them like alimony cheques, permitting the use of Can dollars and ceding Northern lands where Catholics were established. The rest of the country was not amused. Good thing it never came to be.

          Mar 09, 2014 09:58 AM

          I agree Bird. Good thing it did not happen!

    b
    Mar 08, 2014 08:40 AM

    Bird
    On RT The “Boom Bust” show, March 6, Jim Richards, explains your point of money.
    I thought only gold was money and anything else was currency.
    Maybe I need to review my understanding of the word “money”.

    The remainder of that show was about shipping, Zietgeist (natural law resource based economy) and the creater of Bitcoin.
    Is a good show.

      Mar 08, 2014 08:25 AM

      I would love to hear it but that show does not load over here. Lots of stuff is dead slow or blocked. Tell me about it though. What does Jim say about money? I would love to know. He is a very smart man.

        b
        Mar 08, 2014 08:05 PM

        Bird, he was making the same point you did about chickens, saying many things have been used. Im sure you know his examples.
        The real point was Mr. Rickards is saying not only gold is money.
        I doubt very much if he said anything you are not already aware of, was just interesting to hear him saying it.

        Not sure Im ready to agree with you guys tho, Even if disagreeing with Mr Rickard sounds kinda silly. lol

        Most unfortunate you didn’t get the chance to hear about a “natural law resource economy”.
        That ideas time will come. They are right, that life as we know it is about to change
        Try to imagine the ramifications of a “replicater”(star trek) in every home, or every home and industry powered by solar. These new advancements (and others) are really amazing.

        The last bit was bitcoin, guess the creater has been discovered, lives in California, people that know him say he is definatly smart enough to do it.
        Guess his mysterious name was correct all along, Satochi Nakomoto, I could have it wrong. Maybe a bitcoin person could correct it.

          Mar 08, 2014 08:19 PM

          Awesome! Many thanks, B. I really wish I could pick it up to watch even though I am confident of the arguments I laid out in some posts last month. Anyway, one really needs to live outside the US for awhile to see alternate money in action in poorer countries. Most especially those in Africa that did not have well developed bank systems and state currency production until fairly recent times. Thanks for bringing this up.

            Mar 08, 2014 08:23 PM

            And Jim said…”Chickens are money”. Hope you are not just pulling my chain. It is true though. Anyone who has been around knows it. Guys like Casey or Katusa would no doubt confirm it as well. They have been everywhere.

            b
            Mar 08, 2014 08:39 PM

            He may not have said chickens, but he did say feathers, etc.
            Basically people choose their money. When he said bitcoin was money I near lost my lunch. lol
            I mentioned awhile back I had a store that sold cards, in that niche the cards were money, they had a monitary value, niche, but I always called them currency.
            Depends on the society what is money. (your point) And valid, I said it was valid, but I am still of the opinion that gold is money everything else is currency.
            Maybe gold is just the first money accepted worldwide..

            This goes on and discussion like it because all this is not a science, the experiments don’t stand up to duplications.
            Kenysians, austrians, both have valid arguments.

            I enjoy the discussion but to be honust I would rather know how much gold the Chinese import or when the Indians change their rules for gold. lol.
            .

          GH
          Mar 09, 2014 09:50 AM
      Mar 08, 2014 08:45 AM

      Thanks Bill

    Mar 08, 2014 08:50 AM

    Big governments are conduits to pass on debt to the “citizens” of it.
    Prior to Russia’s aggressive move the IMF debt play was on the move in Kiev.
    IMF committing to loan billions provided the new government meet conditions.
    No one is going to “give the Ukraine Money” but there will be money transfers with commitments made by a brand new debt slave.
    Governments are today tools of debt creation.

      Mar 08, 2014 08:46 AM

      Pretty much, Dennis

      Mar 08, 2014 08:05 PM

      Dennis, you hit the nail on the head with that one. The IMF and the banks owed money will extract it with austerity from the citizens. The protesters will find out that the shed blood will just result in a different thug decreasing their pensions, increasing taxes, and negating gas subsidies. The cerebral vision of a paved road of gold will disappear rapidly. The very oligarchs that have been a big part of the problem are being entrenched in the new government and given positions in Eastern Ukraine.

        Mar 08, 2014 08:22 PM

        Doc, is this you?

          Mar 08, 2014 08:33 PM

          Check the IP address Al. It sure does not sound like Doc to me.

            Mar 09, 2014 09:00 AM

            Me either Bird, but that is okay. The more opinions the better!

    Mar 08, 2014 08:32 AM

    RICK RULE ( It’s very dark when you die from CANCER ! SMART ASS ! The world can use other forms of energy ! NO NUCLEAR ENERGY !

    CFS
    Mar 08, 2014 08:42 AM

    http://www.bloomberg.com/news/2014-03-06/massad-joins-cftc-nominees-facing-senate-on-swaps-views.html
    CTFC talking about trading limits. Pull the other one it’s got bells on it.
    Translation: I’m skeptical.

      Mar 08, 2014 08:50 AM

      I would have to agree with you.

    CFS
    Mar 08, 2014 08:46 AM

    Chinese Trusts with potential problems:

    http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/02/BAC%20Trust%201_0.jpg

    Note none are as big as $1 billion.
    This is containable.

      Mar 08, 2014 08:53 AM

      Isn’t it truly amazing what is happening on the internet. I , by the way, think it is a good thing as long as the material is credible. Don’t you?

    Mar 08, 2014 08:08 AM
    B
    Mar 08, 2014 08:16 AM

    Would you buy American silver eagles or Canadian silver maple leafs?

    Mar 08, 2014 08:43 AM

    Dead bankers don’t lie…

      Mar 09, 2014 09:02 AM

      They don’t talk either!

    Mar 08, 2014 08:53 AM

    Fred I don’t trust Hal Lindsey. Ever since writing ‘The Late Great Planet Earth’ some forty years back the guy is a main chancer when it comes to Biblical prophecy, and typifies many like him.

      Mar 08, 2014 08:37 AM

      I have a hard time believing him. He claims to have inside elite sources who have been feeding him information for decades.

        Mar 08, 2014 08:41 AM

        Quite so Bill, I hate these people.

        Mar 08, 2014 08:52 AM

        different Lindsey

          Mar 08, 2014 08:00 PM

          Not that I can see Irwin – looks like the same guy to me, the one who’s 84 and who said that Christians shouldn’t plan to be on Earth come the millennium.

            Mar 08, 2014 08:07 PM

            I think Irwin is right. This is the guy I was thinking of

            http://www.lindseywilliams.net/

            Mar 08, 2014 08:51 PM

            Aye Andrew,
            You correctly identified Hal Lindsey as the author of “Late Great Planet Earth”.

            However, I was responding to Bill (sorry, should have addressed him by name) referring to “inside elite sources who have been feeding him information for decades”. That would be Lindsey Williams.

            Mar 09, 2014 09:41 AM

            Thanks Irwin.

    Mar 08, 2014 08:55 AM

    Big Al, you didn’t happen to run into Byron King from Agora up there at PDAC, did you?

      Mar 09, 2014 09:03 AM

      No Bill, I did not.

    Mar 08, 2014 08:05 AM

    Bob Moriarty is right as usual except when he said, “Ukraine, no winners or losers.”

    The American taxpayer will be a loser in it all, I guarantee it! Already 5 billion down the Ukrainian toilet and who knows how much more the real number is and will be.

    Mar 08, 2014 08:41 AM
      Mar 09, 2014 09:24 PM

      thanks, Gary

    Mar 08, 2014 08:20 PM

    What were we discussing last year may be just as important today, to wit:

    On March 9, 2013 at 8:27 am,
    Dennis M. O’Neil says:

    Dan Pisenti – made an extremely important point on his way to a larger point.
    He said verbatim: “…….Social issues…….which matter by the way!….If we handle social issues one way that is going to affect the way we handle certain economic issues.”

    This is an immense point. Too often when talking politics even with fellow conservatives/libertarians the social issues are dismissed and/or de-emphasized.
    However, as Dan said in another context …. “This is so wrong headed!”

    In America for collectivism to flourish the soft foundation of Marxism needed to be tented upon the rubble of Capitalism. The ultimate collectivist goal of Marxism was foreign to post revolution United States. It could not take seed. Before it could ……small baby collectivist steps were needed to deteriorate the social fabric of the American character.
    The American character was required to be worn down and torn apart. Only then could the idea of true collectivism take hold. For decades the American Spirit repelled and rejected the ideas that were trumpeted in Europe. Ellis Island brought more to our country then huddle masses. The Island ferry brought ideas. Some of those minds brought wrong ideas which they maintained and advocated. Ironically the oppression which these wrong minds fled was brought about by the misplaced ideas they maintained. These ideas were openly advocated here. The American character was bombarded by these ideas. They were popularized by the old money supposed well reads who could just sit around all day and opine. However, the strong national character rejected these tragically flawed ideas out of hand. A strong work ethic, extended families, religious conviction, and sound education were armor to these dubious ideas of a collective Utopia.
    Socialist on their soap boxes would be dismissed. “If it sounds too good to be true……then it is too good to be true!” “You can’t get something for nothing!” “Money does not grow on trees!” Americans knew better. Why return back to feudalism? Then Americans would rather be an at risk struggling farmer as opposed to a secure serf.
    The American character needed to be assaulted.
    And so it was. It was attacked socially…. families….churches…schools were ground zero.
    Like a plow head penetrates and disrupts the ground the collectivist needed to find fertile soil. As the late Sen. Patrick Moynihan said “We are defining deviancy down”. After a span of time what once was a well-tended garden becomes a briar patch.
    The once sound American foundation was laid siege upon.
    The family was compromised from all directions.
    Religion was brutally assaulted by science (which by definition cannot address faith).
    The work ethic was replaced with entitlements.
    Schools became platforms of indoctrination.
    After decades of continued siege the walls were crumbling.
    Out of wedlock births became the norm.
    Divorce was a flip of the coin.
    You could have sex with anything you wanted just as long as it was breathing. You could do whatever you wanted except you certainly could not smoke afterward.
    Church pews were empty.
    Farmers were paid not to grow crops.
    People were paid not to work.
    Diplomas were delivered to those who could not read what was written upon them.
    Obama did not transform anything…he is just trying to build something new on the rubble.
    It is contrary to my own libertarian thought to address some of the above….but not thinking about it does not change it.
    I believe an individual should make choices but they should do so in full realization of the impact the choice has on their person and the society in which they live.
    Thoughtful and fully informed decisions should not have delivered us where we find ourselves.
    This is why it is important for the collectivist to control education and mass media.
    There you have it the bull’s eye of the collectivists communist: destroy 1) organized religion 2) the family unit and 3) indoctrinate them instead of educating them. All while the state becomes their nanny.
    All this performed under the agreeing head nods of mass media punditry.
    The result is a well tilled fertile ground seeded with weeds.
    Obama is merely a bit player in Act III.
    It is the time……after a lengthy siege….whether or not those being laid siege upon have any resolve?
    Time will tell us.
    Make no mistake though…..as Dan Pisenti said…..social issues matter! They are the cannon balls impacting out walls.
    De-emphasizing social issues is like abandoning the walls during a siege.
    We need to define the perimeter and defend the walls vigorously.

    Mar 08, 2014 08:21 PM

    Very lively debate between two gentlemen, from last year.

    Dennis “The Commodities King” vs. Peter “Dr. Doom” Schiff
    (17 minutes)
    http://www.youtube.com/watch?v=k9upG_fcj4Y

      Mar 08, 2014 08:07 PM

      Great debate. Thanks, Irwin.

    Mar 08, 2014 08:50 PM

    fast money was discussing puts on jpm

    b
    Mar 08, 2014 08:01 PM

    Enjoyed it Irwin.

      Mar 09, 2014 09:39 AM

      My money’s on Schiff all the way, Irwin.

        Mar 09, 2014 09:04 AM

        Peter is very bright.

    b
    Mar 09, 2014 09:57 AM

    I thought Schiff was argumentitive and Gartman made good points.
    Schiff may of made good longer thinking logic but he didn’t seem to grasp Gartman only looks ahead days maybe weeks and just goes with wherever he can make money.

    Gartman asked Schiff “How do you know what anybody will do?”
    Schiff didn’t seem to be able to answer.

    Good example of 2 different ways of seeing the market and both are valid and make money.

      Mar 09, 2014 09:05 AM

      Both are Caucasians money B. I have talked with both of them and Dennis is certainly the friendlier of the two.

    Mar 09, 2014 09:08 AM

    I gained a lot of respect for Gartman listening to that exchange. He didn’t let Schiff walk all over him, as Schiff is wont to do.

    Gartman is a trader; Schiff is a salesman. Different approaches, and I like how they were able to carry on a reasonable conversation, even if they disagreed.

      Mar 09, 2014 09:06 AM

      Completely agree with you Irwin.

    Mar 09, 2014 09:29 AM

    Thanks for the weekend show.

    I love Rick Rule, but FWIW disagree with his view on capitulation in the mining stocks.

    In my opinion, we did have capitulation — both in terms of the extreme price decline and the trading volume.

    I think that a lot of the stock got transferred from weaker to stronger hands during the washouts that took place in the Summer of 2013 and the year-end tax loss selling.

    Consider the cost basis that the new owners have on these mining stocks and ask yourself what it would now take to engineer another capitulation. I think that ship has sailed.

    It is of course possible for profit taking (perhaps even deep profit taking). But for a capitulation to take place that is more extreme than the selling which took place in 2013, I think you’d need the price of physical to cave in below the 2013 lows.

    Since I do not think that is going to happen, I believe the capitulation is now rear-view mirror. We shall see. Have a great Sunday, everybody.

      Mar 09, 2014 09:08 AM

      I happen to agree with you about the ship sailing Eric!

    Mar 09, 2014 09:59 AM

    For you history buffs…..tomorrow March 10th marks the anniversary of the Nasdaq’s high point of 5138 before crashing as the Dot-Com bubble imploded in the year 2000. It really was the Ides of March that everyone should have been afraid of back then. By late October 2002 it had finally crashed all the way back to 1100 points having lost more than 4/5ths of its value and wiping out plenty of brash high flyers and companies in the process. Be careful out there!

    Mar 09, 2014 09:09 AM

    And Bird, history does repeat itself!

      Mar 09, 2014 09:20 AM

      That’s what worries me Al. With Russia getting so aggressive right now I wonder what is in store. Investment hates political uncertainty. I almost wonder if what they are trying to do is destabilize this weak Western recovery. Last weeks copper crash was not auspicious either so I am a little concerned about the signal.

      Mar 10, 2014 10:14 AM

      Hopefully it is not repeating today Al. The charts look strangely like they are taking a nosedive this morning. Seems an appropriate anniversary for them to fall though but we sure don’t need it. The DOW may have been signalling today’s trouble anyways as it reached resistance right at the January 2014 highs this past week. Was Peter right? Hmmm. And is this an early warning signal? I won’t pretend to know but if it starts putting in a firm double top we will all have reasons to worry.

        Mar 10, 2014 10:49 PM

        All red as of the close today. Not dramatic, but still red!

    Mar 09, 2014 09:29 PM

    It does not take a genius to realize the West is in trouble.

    Economic warfare makes a lot more sense than historically conventional warfare.

    Mar 09, 2014 09:37 PM

    How many countries would allow their Sec. of State equivalent to be someone who purported to have thrown military metals away in protest?

      Mar 09, 2014 09:15 PM

      As always a great point Dennis.

    Mar 09, 2014 09:55 PM

    The failures twice to hold $1340 last week pretty much guarantees much lower prices for gold.

    The week is already starting off terrible.

    More pain for gold bulls

    Mar 09, 2014 09:04 PM

    It’s time for gold to crap or get off the pot as they say.

    I’m getting close to dumping…

      Mar 09, 2014 09:59 PM

      Then it is official James. The bottom is in! Fooling aside, it is these moments of exasperation that lead to selling and locking in some losses that are the real tip off. Can’t blame you though. Most people have a limit to their waiting. Oddly enough you won’t be alone. That is why we have capitulation that involves large numbers of people. Like there is a timer in all heads at once.

        Here is a funny one for you………..ONE SHARE OF GOOGLE 1217 SHARE….is almost equal to ONe OZ of Gold…………..WHAT a world we live in……………….

          TIME for REFLECTION…………or as James says ,,,,”time to crap or get off the pot”

            OR ………give GOLD a grade of “D-” equals DUMP………..

            Mar 10, 2014 10:29 PM

            Don’t think that I would “dump” quite yet!

            Mar 10, 2014 10:28 PM

            Soul searching is, for me, a better way to put it. Got to ask yourself the reason that you buy gold.

          Mar 10, 2014 10:25 PM

          Funny? How about strange?

        b
        Mar 10, 2014 10:38 AM

        Universal consciousness.
        If you have an idea to patent, better do it quick as someone else has the same idea.

          b
          Mar 10, 2014 10:39 AM

          Investers call it “herd thinking”?

      Mar 10, 2014 10:44 AM

      Gold did close a 2nd day above 1340 or borderline on Friday. It us up a 3rd day now above 1340 and I hope it stays above that level and that would make it a 3rd day. Platinum appears to be breaking out soon and that should be good for gold.

    Mar 09, 2014 09:30 PM

    Now that China is crashing it doesn’t seem all that gold is doing them any good.

    Things are about to get very very ugly

      Mar 09, 2014 09:09 PM

      Could be an interesting week coming up The Greater.

    Mar 10, 2014 10:39 AM

    The “OWL COINLAND”…

    Last I looked Google made important things that people use and need in their everyday lives, like search engines and robots and nano tech.

    Why shouldn’t a share of Google be the same as am ounce of gold?

    And further just what should am ounce of gold be?

    You nor anyone else can answer that.

      “You nor anyone else can answer that”………….never said I could………
      I was just merely reflecting on your comment as ,”crap or get off”……….
      By comparing GOOGLE AND GOLD……maybe time to get in the REAL WORLD, and do some adjustments to one’s portfolio………..

      Mar 10, 2014 10:46 AM

      Re: “Last I looked Google made important things that people use…”
      James, you made the same argument when talking about NUS at $135. This is not analysis. All great companies that make great things will become way overvalued and way undervalued. The reason? Most people simply extrapolate every trend without any regard for fundamental or technical analysis, just like you do. GOOG is trading at nearly 5 times book and has a trailing PE of 32. Goldcorp would have to quadruple to reach the same valuation. In addition, GOOG is extremely overbought on the weekly and monthly charts while the daily chart is showing bearish divergences by making new price highs while the strength/momentum of the move is declining. Feb. 26 might have been a top for GOOG for some time. Either way, I wouldn’t touch it here. It will underperform gold (especially the miners) for some time.

      Mar 10, 2014 10:42 PM

      It is all a matter of opinion.

    Mar 10, 2014 10:47 AM

    You made a statement “WHAT a world we live….” Regarding Google’s share price in relation to gold.

    I am merely responding to your comment.

    You made a statement but didn’t offer any reason.

    You said “Here is a funny one for you…”

    Is it funny?
    What’s so funny about it?
    Should Google equal gold? Shouldn’t it?

    Just wondering what your thought behind the statement is

    You are reflecting to my comment “cramp or get off”

    What is the conclusion of the reflection?

    What is the “real world” you claim I should get in?

      Mar 10, 2014 10:27 AM

      You know what IS funny? I told friends and family in Nov. 2007 (the last time google and gold were about the same price) to sell/short GOOG and buy gold. Gold then dramatically outperformed google for years. I would confidently make that same recommendation today –as in right now. This time, the setup is an even bigger “no-brainer.”

    Mar 10, 2014 10:43 AM

    Interesting point Matthew. Certainly food for thought…

      Mar 10, 2014 10:52 AM

      Food for thought is all it’s meant to be. No one should make that trade based solely on my opinion, no matter how sure of myself I am.

        Mar 10, 2014 10:52 PM

        Listen to everyone and then make up your own mind. Right Matthew?

    b
    Mar 10, 2014 10:38 AM

    I can see people coming to one of these blogs…reading a comment ..and going all in.
    What would be interesting would be to find out how they came by the cash to invest in the first place.
    Inheritance maybe.

      Mar 10, 2014 10:54 PM

      It would have to be b because anyone that does that never had the ability to make any serious money!