Gary Savage – Fri 4 Apr, 2014

Friday with Gary

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Cory FleckGary SavageAl Korelin

  1. On April 4, 2014 at 9:15 am,
    hal says:

    Cory asking very good questions as always. Gary repeating his old stuff.

    I just wonder how there could be no more sellers if you can naked short gold at any time at the COMEX with some funny money from the FED? Not very convincing.

    • On April 4, 2014 at 9:59 am,
      Brian says:

      For goodness sakes, please stop the Gary-bashing.

      The three technical guys (Gary, Rick, and Richard) use different methodologies, models, and decision-making heuristics. Each of these methodologies has unique language and terminology to explain things.

      Gary is merely sticking to his methodology (and the associated language). If you listen closely, Rick and Doc also do the same thing.

      This is WHAT WE WANT: Different viewpoints from different technical analysis methods. If you do not like Gary’s methodology, then skip his daily interviews.


      • On April 4, 2014 at 10:42 am,
        hal says:

        Gary’s methodology is making in hindsight predictions. Cool! 🙂

        If you don’t like my comments just ignore them. I just state my view. This is what we want. Different viewpoints from different listeners.

        • On April 4, 2014 at 11:06 am,
          Big Al says:

          That is exactly what we want Hal!

        • On April 4, 2014 at 4:02 pm,
          Brian says:


          I hear you. I didn’t mean to rub you the wrong way. I just think (to repeat myself) that Al and Cory, with their interviews of Gary/Rick/Doc, provide us with a wonderful range of predictions for timing the market.

          Any day that the “Three TA Guys” all agree or converge on a prediction, it probably means that you can bank on it (literally).


    • On April 4, 2014 at 10:01 am,
      Brian says:

      But I do agree with your other point: Cory is a VERY GOOD interviewer.


  2. On April 4, 2014 at 9:17 am,
    james (the lesserrr) says:

    The NFP numbers were not “pretty good.”

    They were mediocre at best and not good enough to blame the weather or keep the recovery propaganda going.

    Because of that the Yellen Non Taper talk is back on the table.

    Because of that gold rallied.

    Since stocks are already at the top they are not getting the same bounce, or bang for your buck anymore.

    • On April 4, 2014 at 10:59 am,
      Big Al says:

      Interesting comment about the stocks and I have to assume that you are talking about conventional stocks.

  3. On April 4, 2014 at 9:24 am,
    Goldman says:


    I assume the big PM discussion set for this weekend was pre-recorded.
    Can we get an after market update from one or multiple chart guys to get their opinion of the Gold-SIlver market after 4pm

    Thank You

    • On April 4, 2014 at 10:56 am,
      proud canuck says:

      I agree, that would be great

    • On April 4, 2014 at 11:00 am,
      Big Al says:

      Mr. Goldman,

      No we are actually recording after the markets close for the obvious reason.

      • On April 4, 2014 at 12:51 pm,
        Goldman says:

        I am curious what the opinion among the group is regarding staying in current positions and not attempting to pick a bottom in Gold in Silver due to volitility or do they feel we should hit a downside mark of at least 1250 therefore sell on Monday-Tuesday next week and buy after a certain downside trigger?

        Also….what effect do the reports of countries like Iran, China, Japan etc buying gold (and perhaps the release of restrictions in India) have on the future market. Can the powers that be still push gold down if world damand is high?

        Finally…what do they all target for year end price? Two year price in Gold in Silver. No pressure.

        • On April 4, 2014 at 1:55 pm,
          Big Al says:

          Mr. Goldman,

          I can only tell you what I am personally doing.

          Because of my long term philosophy I do not sell gold and silver so I really do not care what the future prices are. I would guess they will both be higher simply based on the fundamentals that I believe exist.

          Regarding the conventional markets, I believe they will be lower and that is simply a result of my fundamental beliefs.

          Now, if the do do really hits the fan, and I think that there is a slightly better than average chance that will happen within a couple of years, my metals will be fine and my conventional stocks will not. My resource stocks? I think they will perform well in a scenerio like that.

          I will ask our guests what they think on Monday.

          Best and have a good weekend!

  4. On April 4, 2014 at 9:45 am,
    J........the Long.............ootb says:

    I would say….gold will hold going into the weekend..

    • On April 4, 2014 at 11:09 am,
      Big Al says:

      And, The Short, I would agree.

  5. On April 4, 2014 at 9:46 am,
    Mike says:

    The March Jobs report was a little disappointing and equities are selling off pretty hard. There could be some rotation into gold and the miners. Cory’s questions on a potential “bottoming” for the miners are good and also helped bring out more commentary from Gary. Gary is being consistent and his predicted bounce around the Jobs report is playing out with a target of ~$1320. Both Gary and Doc have talked about a grind lower through April and I’ve seen other predictions of a possible reverse head and shoulders bottom forming in gold. If we do begin a pull-back next week the question is how low does gold go before the next big uptrend begins. The next 3-4 weeks should reveal what gold will do. Good stuff guys. Doc’s views later should be interesting also.

    • On April 4, 2014 at 10:02 am,
      jj says:

      I’d say Mike the biggest issue is a liquidity squeeze unfolding within the US equities….if they rollover hard next week….everything! gets sold….2008 waterfall effect?….isn’t funny how its always the NEXT 3-4 weeks that determines golds trend….dog chasing its tail…Good Luck!

      • On April 4, 2014 at 10:59 am,
        Mike says:

        That all could happen jj, BUT, the Fed will do everything to stop it, including reducing the tapering or a QE4. I’ll bet there’s already a plan in place and they may be discussing it this weekend. No Spring weekend or Final 4 games for them! HA, HA, HA. Anyway, enjoy YOUR weekend!

        Hey BIG Al, do the Gators take this? No, predictions?

        • On April 4, 2014 at 11:05 am,
          Big Al says:

          I am certainly not an expert, but I hope that they do!

        • On April 4, 2014 at 11:12 am,
          jj says:

          Lets not forget Mike that full on QEasing did NOT create the to da moon shot for Gold these past two years…Gold has had better % gains as QE been tapered off…FWIW

          • On April 4, 2014 at 12:27 pm,
            Big Al says:

            Well sure, that is correct.

        • On April 4, 2014 at 11:13 am,
          irishtony says:

          Mike….I say QE4… years end.

          • On April 4, 2014 at 11:23 am,
            J........the Long.............ootb says:

            the only reason it will not be the 2nd quarter, is the tax revenue will be hauled in by the govt.

    • On April 4, 2014 at 2:48 pm,
      Mike says:

      Some good analysis and charts on a potential reverse head and shoulders bottom for junior miners (GDXJ). Also applies to GDX and gold:

  6. On April 4, 2014 at 10:49 am,
    Hal says:

    Right now, whats in trouble are the AMZN, TSLA, NFLX and even AAPL FB and PCLN.

    If they sell off Monday we could see some piling on, especially with the 600 PE AMZN

  7. On April 4, 2014 at 10:53 am,
    Hal says:

    by the way, juniors are showing some strength here this afternoon after the comex close.

    • On April 4, 2014 at 11:05 am,
      Big Al says:

      Some of mine certainly are!

  8. On April 4, 2014 at 11:33 am,
    TenYear says:

    I see lots of black candles in the miners.

    • On April 4, 2014 at 12:39 pm,
      Big Al says:

      You saying like the proverbial canary in the coal mine?

      • On April 4, 2014 at 1:11 pm,
        TenYear says:

        black candlesticks on the daily charts in several mining stocks.

        • On April 4, 2014 at 1:59 pm,
          Big Al says:

          Thanks, please remember I know nothing about charts!

          Stooooopid Al

  9. On April 4, 2014 at 11:42 am,
    MTT04 says:

    I have been buying this dip in gold shares an will enough shares to gain free ones. Gary dos a very good job of alerting the signals.

    I do not agree however, that gold is going down much more. If it does then it is a buying opportunity of the year.

    It amazes me how many people buy near the tops of these ranges. Buy the bottom of the ranges folks

    • On April 4, 2014 at 12:40 pm,
      Big Al says:

      Pretty hard for some folks not to do just that MTTO4.

  10. On April 4, 2014 at 12:31 pm,
    ManAboutDallas says:

    Gary : still wondering about my original question from 4-1 : has the Yearly Cycle Low ever arrived early? And, if so, when did it do so, and what was the outcome ? Thanks.

    • On April 4, 2014 at 4:09 pm,
      Gary says:

      The yearly cycle low can come between 11-13 months from the last one most of the time. It will come when the current intermediate cycle bottoms. It could potentially come a bit early at the end of April or it could stretch into May or early June.

      We just have to watch for signs of an intermediate bottom.

  11. On April 4, 2014 at 12:41 pm,
    Iiam says:

    What happens if the fed decides to stop the taper in May ? Will Gold rally fast ?

    • On April 4, 2014 at 12:44 pm,
      Big Al says:

      Remember what happened when the first taper was thought to be stopping? (Last summer)

      • On April 4, 2014 at 2:03 pm,
        Bidman says:

        Taper is being priced in and everyone pretty much expects the Fed will keep to its word with regular reductions in bond buying until there are no more exceptional purchases. I don’t know why this is still in doubt around here. QE will end and that is a virtual certainty. What comes next are interest rate hikes.

  12. On April 5, 2014 at 7:35 am,
    Alex Lee says:

    Hi.. I want to know is silver more rare then gold. Likely silver become extinct commodity as claim to be. Possible equal 1:1 ratio with gold. Thanks

    • On April 5, 2014 at 12:07 pm,
      J........the Long.............ootb says:

      depends on who you ask……………….
      According to Dave Morgan…….there is less silver than gold.
      generally ,speaking, silver is a by product found when looking for other metals.
      According to other sources,, silver is used up, and destroyed in many application, like bomb making.
      All the gold ever mined is still around.(approx.)
      Some sources say…there is only approx. 1 billion oz. of silver available vs 17 billion of gold(quoting from memory)
      Another source says…..there is 170,000 tons of gold (this has not been verified yet)
      SO, your question is a good one…………………..hang around this site, and we should find out……………..I have been here for 8 years..everyday is a new enlighting experience…………………..IMHO……………………..Jerry………….

      • On April 5, 2014 at 12:37 pm,
        Big Al says:

        My experience exactly Jerry!

      • On April 6, 2014 at 6:54 am,
        J........the Long.............ootb says:

        I might add one more item to the list………concerning the 1:1 ratio,,,since I personally think silver is under valued………..reason there are many…but,
        There is a new question and that is………..WHY IS JPMORGAN HOLDING 6000 TONS OF SILVER………….? And there is a problem since, 1964, when all the silver was sold off by the US TREASURY……….there is another story here , which will un fold in the future.

        • On April 7, 2014 at 10:46 am,
          Mr Gold Finger says:

          Could you please show me the source/document where it shows that JPM is holding 6000tons of silver?
          Thank you!

          • On April 7, 2014 at 4:19 pm,
            J........the Long.............ootb says:

            it is either on Sinclair’s Mineset, KWN, Zero Hedge……..this was posted about two or three weeks ago…………..hope that helps……….

          • On April 7, 2014 at 4:21 pm,
            J........the Long.............ootb says:

            If you do not find it,,,,,we will be posting this info from time to time….since, it is concerning the silver market which is undervalued….and has been for some time….
            stay connected………………………best……….ootb…………jerry