Closing Market Commentary with Gary
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Bob M just sent me an article which I will post. If it doesn’t epitomize the top, I don’t know just what does.
Bob M’s specialty is picking TOPS & BOTTOMS, that BA will be one interesting read.
DT,
AGREED!…get down here to SD and lets have a ARNOLD PALMER….YUM!
How about some quality Red?
Marc, when my life was much busier way back when, I bought myself an Arnold Palmer sweater so I could relax, I can’t part with it because it served a purpose and when I see it sitting there it still puts a smile on my face.
Funny just how we oftentimes have reactions like that!
DT,
“This is one for the record books as we will the downfall be”……..soooooooooo true it is going to be REAL ugly…and if all this new building here in coastall SD is done by paper wealth – they are in for a mighty, mighty big surprisse…..YIKES!!
Very good astute observations by Gary on the miners IMHO. I totally agree on the profit taking angle – I personally did some trimming as well today.
Not sure about gold here as he might have a bit more of a push… but I think we’re due for a pullback. Started to buy some protection today near the open after revisiting last night the latest COT data, which wasn’t pretty/bullish (a data Doc incidentally also referred to today), and might add a bit more tomorrow +Monday if we have another pop toward 1360/1365…
Thanks as always Al/Cory + Gary/Rick/Doc/Chris
Best,
LPG
Thanks and also thanks for the e-mail.
Get well soon Gary. Any chance you’re considering a new sport that isn’t too hard on your knees? Maybe hang gliding? Paragliding?
I cannot tell you proud just how much I enjoy hang gliding!
It scares the day lights out of me. I did it one time in Brazil….Rio
That was enough for me.
Hi guys,
.Gary….get that leg healed up.
I want to say thanks for the comments and advise. I am the worst trader but I really enjoy this forum and the speakers. I kive and work in Indonesia and listen to you all each day.
Cory, Rick, Doc and Al…great work as well.
I can’t read enough each day.
Regards,
John
Hi John,
Indonesia is a great place…I’ve been there a few times.
Great to also see the recent jump in the share price in one of the gold mines there (in South Sumatra) who’s shares I own (KINGSROSE Mining).
Cheers.
Yeah its a great place…good food and plenty of golf. A lot of the guys I golf with are gold miners. Indo is trying to get the miners to build a smelter so the ore stays in Indonesia.
That would be a great boost for the local economy if they do that John,
I was last there at Christmas time, took the family there for 3 weeks.
It had changed enormously since I was there the last time before (3 years earlier)
But they do still have some huge infrastructure problems to overcome.
Some things never change there though…
…..LOL….like seeing all the hordes of young drunk Aussies as I drove through Kuta one day whilst I was there !!
John, my best friend just recently { July 2} relocated from Vancouver to Indonesia, city of Ubud.
Ubud is beautiful Ann, you should go visit your friend !
Being up in the mountains its cooler than down on the coast too.
Lots of day spa’s, restaurants & good shopping up the main street.
Traffic can come to a standstill at times so you need to lookout for the many motorbikes who’ll use the footpaths when it does.
Sounds pretty interesting.
Ubud is really nice up in hills…paddy fields. Bali is just down the road. Bezt of both worlds.
Skeeta is right….traffic is just the worst…they can’t drive at all….too many cars, angkot….minibus and motorbikes….can o ly drive 40 mph….hahahHa
Go visit your friend Ann,
If you can handle the heat (its cooler in Ubud) you’ll be amazed how far the $ US goes in Bali…everything is very cheap.
With the mainstream media having moved on in the news cycle to Dow ‘almost’ 17,000 and the ‘Border Crisis’ Scandal, it seems The Islamic State (the terrorists formerly known as ISIS) have stepped up their game and come out swinging… by seizing 88 pounds of nuclear material (uranium compounds) from Mosul University. As Iraq’s UN Ambassador warned, “these nuclear materials, despite the limited amounts mentioned, “can be used in manufacturing weapons of mass destruction… or in combination with other materials in its terrorist acts.”
A U.S. official familiar with security matters said he was unaware of this development raising any alarm among U.S. authorities.
Nothing like being prepared.
And, of course, the Big Zero is nothing like being prepared. He making sure anything can be smuggled in over the southern border. The Traitor!
Oh yeah!
Speaking of the Zero….was it you who brought that fascinating speech by Christine Lagarde to our attention last week, CFS? During the speech about the numerology and the number 7 there were at least three incidents where she says “Drop the zero” and my interpretation was that she was actually referring to Mr Obama in code but using numerology as a cover to convey an idea. Maybe he is on the outs amongst the elites who run the world. Crazy thought but who the hell knows. That was one strange speech.
just when you think the Mogambo Guru has disappeared into his man-cave and thrown away the key….he surfaces.
http://radio.goldseek.com/nuggets/daughty.09.26.13.mp3
A sure sign gold fever is in the air.
CFS,
“Cash for silver’ might soon be the moniker to ‘wear”…..Richard Daughty cracks me up!!!
He used to be on the Show years ago. An interesting guy!
I got to thinking….
The behavior today in Gold, silver and mining shares was anomalous.
We are used to the metals being shorted for the manipulation.
This time it appears the mining stocks are being shorted. Could it be naked shorting?
Could it be naked shorting of stocks used to manipulate the precious metals because there is little or no physical left in the vaults of the banks to hypothecate (or Steal)?
Concerning Silver:
Dealers are already massively short:
(55,000 contracts)
On average 3,700 contracts per dealer for each of the fifteen dealers on the COMEX. At 10,000 oz per contract that’s not chicken feed.
Why not pile on more shorts? Hell, 3,700 contracts is already technically way over the limit anyway.
And then the penny dropped…..
The bankers are naked shorting and do not really need to borrow any shares as JPMorgan is the owner or part owner of the clearing house in the DTCC.
That’s my suspicions anyway!
You recall me suggesting that JPM with their shiny new hoard of 6500 tonnes of silver could manage prices for a long time if they chose…..or they could put on one of the nastiest squeezes in history and take tremendous profits. Interesting days ahead.
In Spanish in El Universal or in English:
http://www.freerepublic.com/focus/news/3178188/posts
Don’t tell me Obama did not know!
He probably instigated the deal.
Just printed this article out. Interesting
Thanks
https://www.youtube.com/watch?v=1H4O3NwvuMA
3 rockets were specifically targeted at the Israeli nuclear site.
These rockets were given to Hamas by Iran.
As Greg Hunter says CFS – there’s plenty of sin to go round.
Ain’t that the truth Reverend!
There is a huge pyramid of capital out there, the consumer is in deep debt trouble, someone is propping up the stock market probably The Fed through easy money to their favorite banks and where do all these shares go that are being bought, I would imagine a lot are being held by hedge funds that the banks have created for this purpose. The gold market is being constrained so that the public believes that the American dollar is sound but The US is the biggest debtor nation the world has ever seen. This is one for the record books as will the downfall be.