Friday Morning Commentary from Gary
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You should ve buying the chicken stock – LOCO as it has come down thanks to tsla falling and the big ipo as money shifts.
Paul.L, Are you Loco?
Basic data on LOCO: Profit margin =-1.18%, Debt to Capital ratio = .82, Price to Book = 21.6, Price to tangible book = -5.2, Return on equity = -8.1%
Good points
You need to focus on charts more than fundamentals. I have taken huge gains on it already and just loaded up again with my 3k shares again on the dips. Look at gold which has strong fundamentals. Just bought 500 Alibaba shares and already up even though I know it is overvalued.
I’m sure that works for you; it sounds like you’re more a trader than an investor that sits on a position.
For most of my speculating, charts are just one of many things that I look at.
I just bought a few nov puts in gdxj…hope to make 3-4x my $ in the next few mos. But will buy long on the way up in price
…gold price that is
I am patiently waiting for gdx at 20 or lower and it could happen. The banker fraudsters now want over $90 per share when baba ipo opens.
Send your money to CHINA…………bye, bye……….BABA……..Understand these guys make 40% return on sales….surpasses Amazon…….with less than 1%…….
Pretty interesting company
Warning: I believe it is dangerous to believe any account financial data from China. I have repeatedly found non-GAAP acceptable deviations historically. I have not looked at Alibaba data, however.
BABA up 36% from the 65 bucks that the banksters got it for – they are probably waiting and hoping for 105 bucks or therabout before selling to the mugs… I mean, before selling to Joe Public.
Yahoo is going down which does not bode well for BABA – everyone was expecting it to fly this week on the coat-tails of BABA.
I think Gary is right about a top before a decline next week and BABA may be the signal for the top today?
Yahoo has gone up too much in the past weeks and due for a good fall. Alibaba is a flop and can’t even hold the opening price which means it is really negative now for the retail investors. There is no pop as the media states as it is only for the insiders that got it at $68.
Thats a good point.
JUST ANOTHER purchase by CENTRAL BANKS.?…..$29 TRILLION, PLUS….
The Fed Balance sheet is only $4 trillion. Stop repeating garbage, Long.J.
I have asked for a rely……..and not received one yet,,,,so mind you own business, until this question is resolved……………ok,,,,,,,,,,,,,,thank…………j…..THE LONG
I said ………….CENTRAL BANKS………which is more than the FED…RIGHT?
Sorry, for being so smart………..it is Friday……..
Just prior to our interview with Rick a couple of minutes ago, we found out that he has been pretty sick for the last 15 hours or so.
We will get an answer to your question.
Chicken little ,,,,,get back in your cage………….
Not as far as precious metals are currently concerned!
The possible manipulation in oil becomes slightly more apparent when looking at oil/gas price ratios, although there is some price modification due to pipeline capacity.
It is hard to prove any manipulation because of the economic turn down occurring in Europe. I do not know if there is any manipulation, despite Gary’s chart observations.
Did Fonzie jump the shark?
Many of you may be familiar with this expression.
For those of you who are not let me edify you.
The phrase “Fonzie jumped the shark” refers to the classic sitcom “Happy Days”, when in season 5 Fonzie jumped over a shark on water skis. At that point the producers, actors and fans knew it was over. The show had run its course.
The phrase became an idiom to describe not just a television show, but in a broader sense anything that starts to devolve, come to an end and break down or apart.
So did Fonzie just jump the shark?
Happy Days needed to resort to tricks and gimmicks, like Fonzie jumping a shark, to keep the viewers interested.
Is Wall St. resorting to tricks and gimmicks as well?
It seems to me that everyone is now on one side of the boat.
Gary declares stocks are safe, just pick your stops and the skies the limit.
Easy money.
Today is the day for ALIBABA.
THIS COULD JUST BE THE LAST AND BIGGEST TRICK OF ALL.
At this point this is as good as it gets.
We have reached the top of the mountain.
The largest IPO in history
$92.70 is the open.
IT IS A BRAVE NEW WORLD
OR
DID FONZIE JUST JUMP THE SHARK?
I will put the question to you and I will leave it with you.
Now regarding this interview.
Today’s action was not about SCOTLAND.
This is all about ALIBABA.
Gold does not follow silver.
Sometimes silver leads gold, sometimes gold leads silver.
But gold always plays the tune.
I said silver could go all the way to $4
I see no reason to change my mind.
That does NOT mean it is. But it could.
When the dollar was crashing several years ago super model Gisele Bundchen demanded she not get paid in the dollars. Almost over night the dollar bottomed and started its long move upwards. It was known as the “Bundchen Bottom”
So was Al’s famous 5 to 10 bucks (Figuratively Speaking) statement the bottom?
The NASDAQ has turned negative
The S&P is flat.
The DOW is losing its gains.
Everyone has finally capitulated and expect stocks to reach to the sky.
All that’s left is for the retail investor to come in and get slaughtered.
Regarding gold – the deck has been swabbed. The carcasses have been swept overboard.
SENTIMENT IS IN THE GUTTER
NOW ITS TIME TO STAY OUT AND WAIT FOR THE TREND TO CHANGE ACCORDING TO AL
But wait…gold is holding its critical level.
Could it be the sellers are exhausted?
Could it be that Janet Yellen, the FED, and ALIBABA could be the last trick Wall St. has up its sleeve?
This is ALIBABA’s day. But OCTOBER IS RIGHT AROUND THE CORNER.
I contend GOLD IS HOLDING A VERY CRITICAL LEVEL.
I contend the BOTTOM COULD VERY WELL BE IN.
I believe NEXT WEEK WILL BE VITAL.
AL I BELIEVE LIKE GISELE BUNDCHEN YOU JUST CALLED THE BOTTOM!
5 to 10 bucks figuratively speaking!
James,
As I said in the interview, the market will probably use the Scottish vote and Alibaba IPO as an excuse for the daily cycle to top and move down into a cycle low over the next 5-10 days. This will clear bullish sentiment and ease overbought conditions and recharge the market so it can make a sustained move above 2000.
BTW sentiment is hardly at the stage where everyone is on the same side of the boat. The intermediate score is only at 61% bulls. No intermediate cycle has topped until at least reaching 69% (much further away than it sounds. To move sentiment another 8% would probably take at least 5 weeks or a really big move in a short period of time) Plus the coming daily cycle low should tamp down sentiment and reset for another move higher.
Twitter was hit hard by the ipo dropping to 50.18 but closed near 53, a big turnaround.
Guys wake up.
PM are a horrible place to be for many years. Markets arent free or fair, so don;t play.
I am showing BABA opening at 94.50 and it currently is about 91 bucks – so the banksters have done well today anyhow.
You have lots of the financial sites heralding it being up 36% at one point but not mentioning that Joe Public had no chance of getting any of that. Ponzi.
The metals are entering the panic stage of this daily cycle with silver leading the way. Gold and miners should follow next week.
Gary, do we break 1180 or hold tripple bottom? By the looks of it today.. Where is your money on this bet?
Matthew
GDX
GDXJ
Both getting crushed.
Hui gap 205 next in line.. You buying?
GFI an encouraging sign was unchanged.
The ran all the stops in gdxj and gdx and
went well past it. Thats not encouraging.
Shorter term. Where the turn comes is difficult.
Looks to me it will be dramatic. Thats where big
money is made. Few participants and very few far
between.
Precious metals can and will move dramatically higher
once corrections like this run its coarse.
IMHO…seen this before. Everyone gets crushed before
big moves.
COT commercials improved significantly.
Long positions not seen since June 10 just
before the rally this year.
Short positions significantly reduced.
We could have a major bottom.
How major is unknown.
I want to see gold rise with good energy.
Otherwise, I will turn the other cheek.
Just another false start.
We need to break out now.
No BS
HH,
What did you think about the high volume towards the close? Double on most miners..
I mentioned yesterday personally that i didn’t like seeing high volume with down days and in the red..At some point i’d like to see volume dry up to a stand still. Then turn and burst higher.
On Friday September 19th,2014 shortly after 12:30pm eastern standard time the GOLD MARKET BOTTOMED AT $1212.80
For how long James.
Unless gold can show some serious strength now
its most likely temporary.
If its anemic, its going back down.
What I see is serious strength.
However, selling anemia.
Bull needs to get up on all 4 legs now.
Otherwise, the bear will devour this bull.
Glenfedish, not many encouraging signs.
Regardless, we are going to bounce.
If its weak bounce its time to close out
all positions.
We have had two serious corrections since dec. 2013.
This last one I think is more than a correction if gold
does not break out to the upside with serious thrust.
I will now sell the bounce and wait for 1000 gold.
Gold should really take off if its going to go into a
bull market.
These gold stocks are giving it up. I expect a good
trading bounce though.
1260 or so is just a bounce. Gold needs to take
off first leg up 70 or so points.
Its way too shallow these rallies. We need to
see some great power in the next up leg.
I won’t be convinced.
good points heavy
not to sound like chicken little but is the sky falling??