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Wednesday and The Doctor Is In

Big Al
July 30, 2014

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Discussion
23 Comments
    NYC
    Jul 30, 2014 30:08 AM

    Doc, there is a possibility we break out the upside today and then correct from a higher level later. The market sometimes only cares about technicals when is does, that may not be now
    ????? anyway just a thought, Gold nor miners what to go down and may not care what Yellin says as she is behind teh curve on inflation, or so may say the markets

      Jul 31, 2014 31:48 AM

      The only correction that could be justified is a correction that adds zeroes to the gold and silver price for physical metal. There is just too much cash, credit and other asset price inflation to justify the existing market prices. Also what needs to be smashed and discredited is the idea that paper and physical gold and silver are fungible. A coin or ingot of silver or gold is not the same as the ounces specified in a futures contract because the contract is not made of gold or silver. It is merely an electronic data entry or a piece of paper and is worth what it is made of.

    Jul 30, 2014 30:34 AM

    Scratching my head on gold/silver reaction to Fed. Can someone shed some light? Thanks.

      Jul 30, 2014 30:01 PM

      You mean the lack of reaction. So far anyway.

    Jul 30, 2014 30:42 AM

    Gold AND silver basically DOESN’T BELIEVE in the GOV DATA any more at all!! That is what is going on – period….as soon…just as soon the FED calls “UNCLE” and does something to show that the market is in TROUBLE…..the bull market will resume…..i.e. they stop tapering and start the stimulus again…their games cant be played anymore then the PM move higher….MUCH HIGHER!

      Jul 30, 2014 30:47 AM

      Yeah,… that was my suspicion. Thanks for the reply SD. I wonder if there was anything in particular in the language that stood out to the algos.

      Jul 31, 2014 31:53 AM

      On the contrary the government and the banks certainly do believe in their own propaganda and they expect you all to to believe their gospel. There may be a gap between what they believe privately and what they tell the public but when they are doing their work they certainly take their propaganda as an article of faith.

    Jul 30, 2014 30:53 AM

    Two weeks ago I said the following of GDXJ: “Choppy but mostly sideways action looks more likely here than a serious decline.”
    So far, that’s been the case and GDXJ is higher now than it was then. The chart I posted on the 16th is relevant today, too…
    http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=1&dy=0&id=p80797917746&a=359630743
    This has been a strong, mostly sideways correction. If GDX does fill the gap under $25, I think miners should be bought aggressively.

      Jul 30, 2014 30:44 PM

      Matthew, I agree completely. I believe we have about 2-3 more weeks of this and then one should look at serious purchases. I always look at certain sentinel charts to make my decisions and GDX is one of them right now.

    Jul 30, 2014 30:01 PM

    Here’s some interesting arc action. I put this chart up on the 16th (red arrow on chart):
    http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=1&dy=0&id=p78456644092&a=359640773

    Jul 30, 2014 30:02 PM

    How about doing some guest spots with us, Matthew?

      Jul 30, 2014 30:18 PM

      Thank you, Al, I really appreciate the invitation, but I prefer to contribute what I can here in the comment section. I think your pros have the airwaves well covered anyway!

    Jul 30, 2014 30:23 PM

    I second, third and fourth that BIG Al…..Matthew is TOP NOTCH….but you already knew that…no disrespect to all the very AWARE and intelligent people on this site, of course – No I am not talking about you guys – DT, Jerry AND IRISH…..HA!!!

    Jul 30, 2014 30:54 PM

    Love me some $1280 gold. I think we will make higher LOW above 1240$ last low meaning 1250-1280 range new low, then reverse back to the upside and make higher high onto autumn.

    Jul 31, 2014 31:43 AM

    Doc, Looks like our first target will hit! My indicators were right yesterday.

    reo
    Jul 31, 2014 31:43 AM

    Where are all the SKY HIGH predictions that use to be on this Report every week. All you experts finally realized your wrong all the time.

      Jul 31, 2014 31:10 AM

      My “Reo indicator” has worked well in the past and I think it is working well now. Reo only shows up to complain near important lows.

    Jul 31, 2014 31:32 AM

    I gotta say that those stocks are hanging in strong but i believe they will break down somewhat at least to fill gaps.