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Bob Moriarty and Doc chat conventional markets and gold

August 1, 2014

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107 Comments
    Aug 01, 2014 01:46 AM

    No so fast my friend’s ! https://www.youtube.com/watch?v=Ct5L0nYrVqU

    Aug 01, 2014 01:47 AM

    Could not disagree more. Bob is calling for a September/October crash and gold to be substantially higher after August is ended. I seriously doubt that is in the cards. Wrong on both counts.

      Aug 01, 2014 01:16 PM

      Wrong on both counts??? Did you just return from the future? Lol…

        Aug 01, 2014 01:28 PM

        What does “substantially higher” mean?
        What is a “crash”?

        These are subjective terms and so I disagree with both of them.

      Aug 01, 2014 01:51 PM

      I agree Bird
      If Bob had called for a crash in Gold and more so in shares in 2011 I would have been impressed. Hes been calling for a market crash for a couple years while missing a major major move.
      He calls this past few years a correction when a pile of his promos have gone to zero. This is a casino and be ware.
      The main indexes are overpriced but with shit flying in Europe capital is going into blue chip. The US $ is not ass wipe like he has said for years its more like the only thing that may have some safety. I know the best fund manager in Canada that called for a commodities crash in 2011 while Bob has been pumping moose pasture for 3 years. My guy says says the US is the most sound at this time but not without some short term risk…I would not put a dime in the markets at this time BUT some gold stocks are basing an a couple broke out. IF we get a crash everything’s going down.

        Aug 01, 2014 01:45 PM

        Thanks Madman. Bob attempts to create an impression online that he is some kind of master of tops and bottoms. He did not make the call this past week though. I did though and I did that with confidence within one day of the top. If he wants accolades he needs to do better than call for declines every single week and then afterwards claim he got it right. So much bull***t it ain’t even funny.

          Aug 01, 2014 01:38 PM

          Yip. You nailed it Bird. He’s a tub thumping salesman. I know a lot of people that were fried buying his penny stocks. Turkey’s will fly. Store 6 months of food and a million others. If you want to help people Bob do so rather than making a fortune on ads and telling everyone that your sharing your free advice. It’s a load of xxxx. He just knew he could make a fortune off a Ponzi scheme. Read MA or BHoye they are far from perfect but at least they change the beat of their drum. Park your ego bob you suck 70% of the time. I have excellent research but it wouldn’t do me any service to hand it out. No crash but it’s not a buy buy a long shot. Some PM stocks broke out but very very few. There is a possibility of a rally in some coming. Not sure if this link will work. http://stockcharts.com/h-sc/ui?s=ZJG.TO&p=D&yr=2&mn=0&dy=0&id=p04596261631&a=196352408&listNum=1

          Aug 01, 2014 01:56 PM

          What’s this?

          Jul 31 Claude Monet water lilies painting Nympheas sells for $57.3 million ABC Ding, Ding, Ding

          Do I really need to define Ding, Ding, Ding to you?

            Aug 01, 2014 01:23 PM

            Really? Is that a market call? Thanks for the laugh Bob!

            Aug 01, 2014 01:51 PM

            What the hay does that mean!? We arent buying painting.

            Aug 01, 2014 01:52 PM

            Too bad gold stocks didn’t see a bubble before they collapsed.

            Aug 01, 2014 01:36 PM

            Mad/Bird = clueless

          Aug 01, 2014 01:42 PM

          Okay, okay Bird

            Aug 02, 2014 02:23 AM

            Gotcha…I will give it a rest, Al.

        Aug 01, 2014 01:08 PM

        I really do enjoy Bob, he’s a feisty dude and believes what he says. I respect that about him and he has been correct on some calls.

        But having said that, how many times do people have to get the living **** beat out of them before they get a clue. Stop believing in fantasy when empirical and actual evidence has shown the opposite of what is being portrayed when it comes to resource stocks.

        I don’t have the foggiest idea whether the general market is going to tank in Sep/Oct, but if it does the darn gold/silver stocks are going to get the crap beat out of them as well. They will not sidestep the carnage.

        These mining stocks are not safe-haven assets…….they are paper SPECULATIONS with the highest “Beta” volatility in the industry.

        There is a time to be in them and a time to be on the sidelines. Learn to take profits on these grotesquely volatile and speculative stocks.

          Aug 01, 2014 01:43 PM

          Sage advice Vortex

            Aug 01, 2014 01:00 PM

            Thanks Al, I love it when you have Bob on. He really gets the fires burning in a good way of course.

            Tell him we can be a wild bunch around here from time to time but we’re completely harmless for the most part. We really have the best of intentions so tell him to come back more often.

            Thanks

        Aug 01, 2014 01:41 PM

        Appreciate the comment madman!

      Aug 01, 2014 01:30 PM

      Bird,

      FYI, the real plunge in gold you mentioned yesterday has evaporated.

        Aug 01, 2014 01:49 PM

        Ha! The month has just begun. Stay tuned.

      Aug 01, 2014 01:43 PM

      Yeah, I think it will be more of a slow burn. The market will deflate, but slowly. Which is conducive for Gold and the Miners.

      Aug 01, 2014 01:40 PM

      As usual Bird,

      Time will tell!

        I remember people posting about how PEM was spending $600k per year on travel, $400K PER year on GNA, $500k per year on IR and that the shares Del owned were bought at $0.0001 per share and what did you do Al? You had Del on to convince investors or was a good play. You had the guys from the encompass fund who have lost money in 80% of the years the fund has been around on to tell investors this is normal. Guys like you and Bob get paid money to talk up shit companies.

        Your credibility was destroyed there. You were presented with the facts and either ignored then out of lack of understanding or intentionally.

        How you sleep at night is beyond me.

          Aug 04, 2014 04:16 AM

          You never finished your comment above.

          Yes, I firmly believed what Del was saying. Kathy and I invested $42k into that company and lost it all.

          When we realized the specifics of what was going on we disclosed it completely on this site.

          We were offered, through an intermediary, a nice bit of stock to begin covering PEM under the new management. In a conversation with an individual involved with the new PEM, Bob and I both flatly turned down their offer. By doing this I effectively lost any chance of getting our money back. Why did I take this action? Because I care about our family!

          That, my friend, is how I sleep at night!

    Aug 01, 2014 01:00 PM

    Very nice interview. I think these guys will be correct.

    Bird, what do you think is going to happen, and why?

      Aug 01, 2014 01:43 PM

      See my related comments of yesterday on the thread “Market Commentary from Doc and Gary, Thu 31 Jul, 2014”. I do not ordinarily repeat a comment but I can break that rule today in order to avoid having to say the same thing twice. Here is the comment:

      On August 1, 2014 at 3:48 am,
      Birdman says:

      Where gold is concerned however, I continue to harbour many doubts. Just one of the reasons for my ambivalence is that the Euro is trending down and that is generally negative for gold. The second is the recent statements from Janet Yellen on rate normalization should the economy improve.

      Now, whatever one may think of the economic numbers or whether they are being massaged, the fact is that we have been seeing improvements in employment, consumer credit, wages, and GDP. This tells me that not only will the Fed carry through with their Taper to conclusion until late fall but that short term interest rates will face pressures to start to rise.

      Ms Yellen has indicated just that, stating that depending on how fast we see improvements in the economy will be dictating the pace at which consideration is given to increasing the Federal Funds Rate. Well improvements have been seen month after month of late. It matters not that we believe the data or not. What matters is those are the posted numbers the rest of the world uses.

      So gold has pressures both from a rising dollar (falling Euro) and now with the threat that rates will begin to slowly rise. Perhaps as early as second or third quarters 2015. That also tells us QE4 is not very likely despite crying from some corners of the investment world who think they cannot make money without Fed supports! Maybe they need a different occupation.

      Gold meanwhile continues in a bear trend as confirmed by another lower high (daily chart) which will no doubt be followed by another lower low. Prices have already shed in excess of 50% of their gains that had been achieved since the start of the year and investors are souring on the probabilities of a swift recovery for metals. Gold is currently firmly planted right in the middle of its six month trading range and near to threatening a key support. There is a very high probability in my opinion that sees gold drops below 1250 in the week ahead.

      How the heck can that be bullish for gold miners as some people here insist!

      The only potential bright spot I currently see is that it is my belief that many commodities will begin to assert themselves off deep lows during this month of August and September. Gold and silver (generally speaking) track the sector but they do not always do so in a synchronized manner.

      While I can make a convincing case for grains to see a sharp price rise in the near future due to Ukraine/Russian/European conflicts developing, supply disruptions, poor crop results due to troubles and transportation issues, I cannot make the same case for gold.

      The reason is that it usually responds more tightly with US monetary policy, rate setting and dollar strength than fear trades and international drama. So it is well within reason softs and grains and energy could all be lifted higher yet gold still remain a laggard. This is in fact what the charts are indicating with the exception that metals will bounce once this current decline phase has completed.

      Until I see more conclusive signs that gold is about to break from its overarching current bear pattern I will continue to doubt the promoters claims of precious metals being on the cusp of a massive breakout. Quite the contrary, they are in retreat at this time and showing little sign of secular strength.

      The burden of the whole commodity complex being in decline for the past several months may not be lifted for gold even as other sectors of the resource arena look to be taking flight. As I noted in the beginning of this post, we should be listening more closely to what policy communications are telling us about the dollar, Euro and interest rates to divine golds overall outlook.

        Aug 01, 2014 01:22 PM

        Bird…..please tell me you don’t actually think the economy and employment are improving……the numbers are and have been fixed since this illegitimate regime took over……regardless of whether or not you think they are manipulated…..the numbers are just plain wrong…….

          Aug 01, 2014 01:24 PM

          Those are the numbers the market uses. I won’t offer an analysis of them.

        Aug 01, 2014 01:50 PM

        Thanks for re-posting Bird

        Aug 01, 2014 01:38 PM

        How can anyone doubt the value of gold or silver and also have the funny idea that they cost too much? The price should of exploded long ago and never came down. Seriously guys the current situation with metal prices is bat sh@t crazy for want of less colorful way of putting it. In real terms it is trading for next to nothing and people are whining about it being too expensive or in a bubble. To quote an American General at Bastogne, “NUTS!” If I wasn’t a patient white guy I probably would have had a chimp out over it long ago.

    I think BOB IS SPOT ON……………

    EBOLA………coming to ATLANTA……..this should be great for the market BIG PHARMAs

    What gives on Silver…………….should be up with gold………..

    Ken
    Aug 01, 2014 01:18 PM

    USD is going to explode higher and gold will tap 950 before everyone throws int he towel.

    until the goldbugs flop on the road dead – gold will not go higher.
    bull markets are born from capitulation – not rounding bottoms.

      Aug 01, 2014 01:22 PM

      GOLD 1900 $ NOW 1300 $ ????????????????? 250 $ START ONLY 15 YEAR’S YOU A IDIOT !!!!!!!!!!!!!!!

      LPG
      Aug 01, 2014 01:42 PM

      I hope you’re wrong Ken, but something on the back of my mind tells me that this might be in the cards indeed.
      That’s why I’ve bought some protection on both G and S.
      Since the end of last year, I’ve been “annoyed” that we haven’t had this new lower low to mark the end of the cycle…
      We’ll see.
      Best,
      LPG

      Aug 01, 2014 01:21 PM

      Stock bull markets are born out of capitulation, not gold and silver bull markets. Gold and silver make spike highs and round bottoms. Look at 1999-2001 Gold bounced around from a low in Aug of 1999 until the end of 2001 without doing much of anything. People hate gold. So it bottoms

        Aug 01, 2014 01:36 PM

        Exactly. Bears are a dime a dozen right now so all the pieces are in place for this stealthy young bull to run soon.

          Aug 01, 2014 01:53 PM

          So three years of declines is how many dimes? Help me with the math buddy!!!

          Aug 01, 2014 01:56 PM

          Bob and Matthew,
          Spot on…BTW Bob…getting good feedback and research on PILOT GOLD….FYI but you probably already knew that!

        Aug 01, 2014 01:30 PM

        You got that part right but your still a moose pasture promoter. Might as well hit Vegas.
        Oh the fear mongering to drive people into a useless asset. It’s for gambling.

        LPG
        Aug 01, 2014 01:51 PM

        Thank you for these insights Bob. Much appreciated.
        Best to you,
        LPG

        Aug 01, 2014 01:49 PM

        “People hate gold.”
        My heresy detector went off. Normal people don’t hate gold or silver.

        Aug 02, 2014 02:06 AM

        Bob is the boss and he’s been 90% right in all cases. I know cause i’ve been following him since 2009 and he’s been spot on. There are others i follow that happen to agree with Bob. Anyone would have to be an idiot to listen to someone on message board full of trolls and pumpers. This perticular thread reminds me of yahoo board.

        Anyway you will not see lower low on Gold and now gold and silver will decline slightly like doc and gary been saying but you will not see 1000 in your lifetime pal and any moran claiming 750 is simply a troll. Comex will close doors at 1000 gold while our chinees and russian friends buy their entire comex and lbma inventories.
        Good luck to all. I’m hoping for $1270-1265 gold so i can get 100% from 60% position now.

      Aug 01, 2014 01:50 PM

      Ken do you think your scenario happens fast and suddenly or we get a grind lower and lower like slow death?

      Aug 01, 2014 01:26 PM

      Ken, I will not use the word “explode” in any context, but we will see 84-85 on the USDX long before we see 78-77 on the index.

      Will gold rise or fall during that time, I haven’t got a clue, but we are in a dollar up-trend because of world events, and this trend should stay in-place at-least for the foreseeable future in 2014.

      Maybe even into 2015, who knows.

    Aug 01, 2014 01:30 PM

    For the big-picture investor, the actions to take are simple and clear: sell conventional stocks and buy miners. My opinion!
    http://stockcharts.com/h-sc/ui?s=SPY:GDXJ&p=M&yr=11&mn=11&dy=11&id=p06752669336&a=360278896

      Aug 01, 2014 01:54 PM

      Not good advice.

        Aug 01, 2014 01:01 PM

        Aw, does someone need a nap?

          Aug 01, 2014 01:58 PM

          Nappy man. Nappy! If you don’t say nappy I won’t be able to sleep.

            Aug 01, 2014 01:54 PM

            Easy way to solve that issue Bird. Start drinking again. (Not personal advice!)

            Aug 02, 2014 02:12 AM

            Sounds good to me.

    Aug 01, 2014 01:33 PM

    If you must own conventional stocks, does now look like a low risk time to buy?
    Not to me…
    http://stockcharts.com/h-sc/ui?s=$INDU&p=M&yr=20&mn=11&dy=30&id=p52263440809&a=361938023

    LPG
    Aug 01, 2014 01:45 PM

    Richard,
    As I’ve posted before, I have utmost respect for your analysis. Thank you for sharing it with us daily.
    However, it seems to me that since about May, you have postponed the “day of reckoning” for gold and PM stocks. Would you agree?
    I mention this coz I kinda or remember that back in May, you talked about June for a nice move up. And every few weeks since, this is pushed further down the line.
    It seems to me that your technicals have not confirmed/indicated any “buy signal”/bottom being in place since May, despite your repeated expectations.
    Does this “bother” you ? And more importantly how much do you think it could be of a bad omen for what might be to come over the next few weeks?
    I agree with you that PM stocks are behaving relatively well so far, and they typically lead, so that should be a good indication for what’s to come for the metal itself.
    However, if, and I say IF, a sudden market correction of a decent amplitude occurs, then I don’t see how these PM stocks could not be subject to selling pressure as well, esp. given that some of them are up nicely YTD and therefore it would be good for fund managers to take some profit on them.
    Thank you for your views, as always.
    Bob: was good to hear your take on the metals and the conventional markets as well.
    Best to the both of you,
    LPG

      Aug 01, 2014 01:04 PM

      LPG; I would have to go back some to see what I said back there—If you look at the gold chart, we did get that bump up in June that I felt we would. I was one of those rare birds that mentioned that I didn’t expect it to go to the moon. Also, I mentioned back then not to expect any possible fireworks until late summer or the fall. Well, we’re now in the late summer and look with expectation to the fall. We’ve taken out all those technicals back then that I referred to as regards my proxy silver. 1. the long term downtrend line I referred to 2. the downtrend line that had formed on the shorter term wedge formation 3. the 50 week MA. I mentioned back then that the ultimate technical break we would have to see would be the bollinger bands. We are now at that point. If you notice on my comments with Al, I reiterate continuously what I feel are the ultimate important technicals—-right now are the narrowing bollinger bands on the weekly charts. I might add that this is a VERY IMPORTANT parameter to now watch. We also see this on a number of PM stocks. I’ll reiterate again that in the early part of this month we’ll see some downward pressure on the PMs but it will once again be grinding. This should last possibly another 2 weeks and then hopefully, we’ll stabilize. By then the bollinger bands will be quite narrow and it’ll be anybody’s guess what happens since the weekly momentum indicators should be stuck in neutral until 12 week MA tells us what direction the PMs will break. Of course, we could stay in neutral and trade up and down within that channel for some time. Personally (and this is not investment advice), I’ll in all likelihood start to purchase significant PM stock positions within about 2 weeks (as long as the technicals don’t warn me otherwise. I’ll do this for a number of technical reasons which I can’t discuss here. There is another fundamental reason I’ll do this. Historically, September is a good month for the PMs and that’s just another support for me to take a significant risk. What I have going for me is that if the weekly momentum indicators go against my positions on the squeezed bollinger bands, I’ll exit my positions forthwith. I always take positions based on the odds and I believe the odds are in my favor in about 2 weeks. I’ll continue to let the listeners know when I take positions. I’ve been waiting for this opportunity for 3 years and will take a calculated risk. I hope I’ve been very clear on my position on this. Thank you for your interest.

        LPG
        Aug 01, 2014 01:15 PM

        Richard,

        Thank you for taking the time on this detailed response.

        Re: what I said that you mentioned in May, I now realize I misunderstood you.
        So for this, I apologize.

        As for your post, everything is clear: thank you again for your insights.

        Wishing you a pleasant WE.

        Best to you,

        LPG

          Aug 01, 2014 01:25 PM

          I really appreciate your questions. I do attempt to be as clear as I can when I’m talking to Al and sometime I think I must be lulling folks to sleep when I repeat certain points day after day. I do this since we all know the problems with communications. When I was in corporate life, I would communicate as much as possible to my direct reports and employees. When I would send out a survey about what we could do better, it was always interesting that one of the top answers would be better communication. That was not only my experience but others’ experience as well. I’ve found out in life that you can communicate until the cows come home and that folks will still tell you that you need to communicate more and better. Anyway, as we get deeper into August, keep asking me questions on this blog and we’ll see what gives in the near future. The PMs are going to be forced by the narrowing weekly bollinger bands to make a choice; it should be quite exciting to see what they choose to do.

            LPG
            Aug 01, 2014 01:02 PM

            Richard,

            You are typically quite clear to me, so no issue on that front (but I’m just speaking for myself).

            It is just that I misunderstood you on that one re: gold for June and Autumn. Or I misinterpreted what you said. Either way, it was my mistake – not a lack of communication from your side. I’m not trying to be polite here: it was truly a bad interpretation/misunderstanding from my side.

            And I believe consistency in the message – when the view is unchanged – is quite critical. Again, just speaking about my own self, you don’t lull me to sleep.

            I’ve noted again your points about the PM stocks and your 2 weeks timeframe, so thank you for this.
            There are also a number of PM stocks for which I’ve been interested in adding to my existing positions recently (say, in the past 1-2 weeks) but I’ve been reluctant to do so given that (1) I sense(d) weakness in the conventional markets and I suspect there will be some sort of ripple effect on the PM stocks and (2) I was unsure about gold performance in the coming weeks.
            But if some of these PMs correct a bit more, some will be at interesting technical levels, and baring aside a sudden drop in gold/silver, I might add more then. I’ve taken some protections on gold/silver with Sept-end expiry, just in case things take a nasty unexpected turn for the metals.

            So we just have to wait and see and I will listen to you (hopefully more carefully) with interest in the next 2 weeks to hear your thoughts.

            Wishing you again a pleasant WE.

            Best to you,

            LPG

        Aug 01, 2014 01:33 PM

        Richard,
        I like your approach and that’s where I stand pat.

        Rich, Gary, Bird, Matt, and all others what is your opinion of the latest Marty call?

        http://armstrongeconomics.com/2014/08/01/july-recap-of-few-markets/

          Aug 01, 2014 01:35 PM

          Glen, Armstrong could be right and he could be wrong. I can’t go out that far since I’m not clairvoyant. I don’t believe there are any technicals or systems that can give the ultimate answer. Having said that, I believe strongly we’re still in a PM bull market. I believe the one technical that could signal another bread lower for gold is the long term uptrend line which it recently bounced off—–If we break that, I become bearish for the short term and medium term.

            Aug 01, 2014 01:38 PM

            Richard thanks for your response. You care correct that no technicals or system can predict. Armstrong would argue that his time machine would have the answers lol.

          Aug 01, 2014 01:31 PM
            Aug 01, 2014 01:37 PM

            Here’s an alternate look (arithmetic not logarithmic scale). Gold looks good.
            http://stockcharts.com/h-sc/ui?s=$GOLD&p=M&yr=14&mn=11&dy=30&id=p58008560256&a=353192021

            Aug 02, 2014 02:49 PM

            I don’t know Matt,
            You could never be so sure of oneself. I personally won’t rule out an extended cycle and and a fourth straight year downtrend that could set up capitulation sub 1000 gold. When you at a long term chart the more I look at it the more that line in that sand at 1000 looks very very possible. You may end up being correct but I’d say with elections coming up do you really think obama will let metals run?

            Also there was a pole that was taken from the top 100 or so gurus including marty, schiff, etc etc and it was a good 50-50 percent ratio as one 50 said 2000/3000 gold 2014 and other 50 said 2000/3000 gold 2015/2016. These markets are 100% unpredictable at times. No matter how good one’s ta and cycle charting etc etc can be it’s never guaranteed.

            The only thing that really scares me from discussion boards, friends and buisness minded people that like metals, is they are all screaming we are going higher soon.

            Aug 02, 2014 02:01 PM

            Glenfidish, I’m just saying that the charts look good. Yes, anything can happen, but the picture is more bullish than bearish in my opinion.
            It sounds like you have smart friends. I don’t personally know anyone that gives a you-know-what about gold, much less think it’s going higher. Overall, I believe that there are a lot more bears than bulls right now.

            Aug 02, 2014 02:55 PM

            Thanks Matthew!

    Aug 01, 2014 01:45 PM

    I just got a package from Toronto with the new shares of AEM, AUY, Osisko Royalty, and some cash in exchange for my Osisko Mining shares. I’m thinking of investing the cash in Homestake Mines, Dome Mines, Dome Petroleum, Beefsteak Mines, Olivut Resources, Hartebeestefontein, and Kloof. Should I do this next week or wait for the crash?

      Aug 01, 2014 01:56 PM

      Don’t ask us Bonzo……we are having a pissing contest. It’s just for fun.

      Aug 01, 2014 01:24 PM

      If you are asking when to buy or sell you have already lost……

    Aug 01, 2014 01:17 PM

    When Birdman refers to people on this sight that he is having issues with as being gay it reduces the integrity of the show and it gives us an insight into what he thinks about people.

      Aug 01, 2014 01:25 PM

      There are gay people here?

        Aug 01, 2014 01:51 PM

        Say it isn’t so Birdman.

      Aug 01, 2014 01:57 PM

      It is ridicule, and you recently used it on Andrew.

      Aug 01, 2014 01:55 PM

      Haven’t heard that one yet, Machine Gun!

    Aug 01, 2014 01:26 PM

    Finese and articulation do not always sleep with intelligence…….

      Aug 01, 2014 01:51 PM

      I was only kidding. No idea what Dick is talking about.

        Aug 01, 2014 01:55 PM

        On August 1, 2014 at 1:17 pm,
        Birdman says:
        Birdman, in response to Andrew:

        When you capitalize the word “so” it comes across as quite gay! 🙂 By the way this is not his first time

          Aug 01, 2014 01:56 PM

          I took that as a joke!

    Aug 01, 2014 01:15 PM

    In my opinion, December gold has followed the following Elliot Wave since 12/31/13: Count 1: 1181.4 to 1392.6 on 3/17/14; Count 2: 1392.6 to 1240.2 on 6/3/14. I believe gold is now in Count 3. The subcounts in this count are: Subcount 1: 1240.2 to 1346.8 on 7/10/14. Subcount 2: 1346.8 to 1281.0 just completed on this morning’s low 8/1/14. Subcount 3 should be equal or greater than Subcount 1’s move of $106.60. The minimum I am expecting gold to be by mid to late September is $1387.60. The maximum I am expecting gold to be in late September or early October would be a 138.2% extension of $106.60 or $147.30 up from $1281.00 = $1428.30. Today’s almost bullish engulfing candlestick needs a follow-up bullish candle Monday to confirm 1281.0 is the bottom for subcount 3. The fact that the move from $1346.80 to $1281.00 was exactly a 61.8% retrace of the move from $1240.20 to $1346.60 lends some viability to the $1281.00 bottom this morning and the strong $14 up move to the close. JMHO

    Aug 01, 2014 01:40 PM

    Can’t we all jus git along?

    Aug 01, 2014 01:56 PM

    Nope. Bobs fearmongering in the early days sucked us in and we would be a zillion miles better off if I never crossed this path. Knuckle sandwich is in order.
    Sold my commercial real state and feel like a fricken idiot now. I’m poor vs rich. Daaaaaaaa

      Aug 01, 2014 01:16 PM

      Madman, no disrsepect meant.

      Its all about personal responsibility. You made your choices, so you have to be man/woman enough to live with them and understand that losses in life in any form are universal.

      That’s why you and the rest of us get up out of bed everyday and trudge through life while trying to live it to the fullest. We make mistakes and try our best to correct them or limit them.

      Blaming Bob only shows you were unwilling to think for yourself at the time. I think some inter-perspective soul searching might be in order.

      Aug 01, 2014 01:41 PM

      Nope.

      Eyez sorry to hear that. You gotta be careful. These internets are trickey. Trust but verify, don’t believe all.

    Aug 01, 2014 01:57 PM

    I think that there is more mutual respect here than anyone can imagine.

    Maybe it is wishful thinking on my part, but I don’t think so!

    Aug 01, 2014 01:11 PM

    Birdman: here’s the bottom line below. (And NO Bob gold is not going to be the standard yur just and old gold bug. The young generation already uses electronic currency)
    “However, given that most base patterns are only one year old and given that there are still many Gold stocks in weak technical standing, investors should remain selective. Tight reversal levels must be implemented with all positions.”
    These guys are not gold bugs.

      Aug 01, 2014 01:23 PM

      Interestingly,
      Armstrong is still looking for a considerably lower target.

      quote :…”So we are still looking for a low under $1,000 and that could form as early as Jan/Feb.”

      http://armstrongeconomics.com/armstrong_economics_blog/

      To da moon ?….or thru the one thousand dollar floor first ?….I have no idea.
      Its going to be a wild ride either way though….might just tighten my seatbelt a tad:)

      I WOULD LIKE TO SEE……a necklace made of electronic currency……..

        Aug 01, 2014 01:38 PM

        Yes & I would like to see a gold price North of $1900.

        ….but both are imaginative at present.

        It may take some patience…but gold will have its day.

    Aug 02, 2014 02:46 PM

    I ‘d like to see the Indonesian or Thai/Laotion/Burmese/Cambodian/Indian/Viet Namese go for the electronic currency in lieu of buying and storing gold.
    I mean,its NWO fantasy control mechanism thought processing at it’s finest.

    Aug 02, 2014 02:50 PM

    Matt: Yes you must be pretty successful spending all your time at this Blog!?
    Bob: Stop printing tabloid type stuff. The majority of the guys on you site are wrong 90% of the time. Just a couple of your calls to jog your memory:
    1) approx 3 years ago banks were going to collapse again and it was the easiest call every. LOL
    2) tic toc tic toc derivatives were going to blow up the wold!!!13 years later…LOL
    3) The next 5 years would be the worst for business. (ya take a look at the stock market and business has done very well indeed)
    Man you crack me up…Ive got a pile of them.
    You said I didn’t know a F##king thing about NOVO….thats right! I don’t have access to early inside information from my buddies buying cheap stock then pumping it on a web site then dumping on write-ups.
    OR selling on news before it reaches the sheeple.
    Here a tip. “It takes a brave man to admit they are wrong”
    Your a smart guy. Do the right thing. Quite blowing smoke…youve made great call way back….do it again. ANYONE that had any balls at all would have warned to get the hell out of the crashing resource sector BUT your advertisers wouldn’t have liked that.
    Talk to JF from Sprott (Split before the crash and went to 100% cash). Humble guy makes Eric look like a fricken idiot.
    Hoping and wishing wont make it so….

      Aug 02, 2014 02:55 PM

      Evening Madman,

      A sincere welcome to our site.

      Big Al

      Aug 03, 2014 03:57 AM

      MM, fyi, I spend far less time on this site than the average American does watching tv.
      Your problem with Bob just shows that you don’t take personal responsibility for your decisions. People who don’t spend any time or even a single dime researching and learning about their investments will get what they deserve.

        Aug 03, 2014 03:23 PM

        Thanks Al.
        Your a great commentator.
        Mathew thats cool cause there zero on the tube especially in the US.
        Nope just calling Bob on his crap. He said years ago he started the site to help/educate people. Its more like lining his pockets. YES he has some great insight sometimes but his ego is just a bit to big. Hes done more damage than he knows. I know alot of unhappy people. I think hes a habitual gambler. I could start a site and pump stuff too and make a pile…Nobody right all the time even if he thinks he is. He a big Bob. If he stops the tabloid stuff it could be of help. Yes things could fall apart again one day. But my dead clock in my garage is looking pretty sharp.