This week is crucial and so far it’s a good start for the metals
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GOLD EXPLOSION ! https://www.youtube.com/watch?v=pGWxxhWj7wk
GOLD UP UP AND AWAY !!!!!!!!!!!!!! https://www.youtube.com/watch?v=FgCMZ6gdX0U
IAMGOLD CORP 3,96 LOOKING NICE ?
Doc (or Al): I know you are invested in Theralase. Any idea as to why the continuing deterioration of the stock price? Obviously, the market thinks very little of the company, at least for now.
Clark, theralase technically is going lower. There’s 2 main reports due out but unfortunately they’re in the future. One is the results of the sales of their new therapy light modality which should come in January. Also, around that time should be an announcement of the people lined up for their clinical cancer trials. Until then, I wouldn’t expect too much out of the stock one way or another. That’s just my educated fundamental guess.
The significant volume Friday in GDX / GDXJ gives credence to a bottom in miners and gold being close at hand and in line with your commentary Doc. Quite similar to late Nov. last year. I really appreciate the majority of the commentary and comments on the site here, thank you Al, Cory and all.
rajnrev; good observation. If this goes according to one of my 2 scenarios, two weeks from now ought to be an outstanding time to purchase. Of course, that doesn’t mean we won’t see one more low for a lot of the PM stocks and the PMs, but it should be a very tradable rally.
Question for Doc: It would be great to hear your thoughts specifically relating to coal miners sometime in the near future. I recall you mentioning ACI earlier this year. I’ve been patiently watching ACI, WLT, ANR and FTEK(coal emissions improvment). Walter Energy in particular seems prime for at least a nice bounce from here. TIA
raknrev; interesting that you brought up the coal miners. I read a great report on them awhile back. All coal miners are not the same especially as it relates to metallurgical and thermal. Also important is the part of the country the mines exist. As you know, the Obama administration seems intent on making the industry as miserable as possible. I probably won’t take a position in any of them until they finally bottom and are trading in a trading range for awhile. I don’t think there’s any necessity to catch a falling knife. One that particularly appeals to me is Consol Energy since they can hedge their exposure through their natural gas production. I’m giving no investment advice but you may want to do your own due diligence on Consol. I might add that the charts tell me Consol has more downside to it yet. If Consol is under pressure, you can probably assume the other stocks you mentioned will also be under pressure for awhile.
Thanks Doc I appreciate you taking the time, as well as all your input here. I’ll look more closely at Consol.
We had big physical demand for gold and silver last week so it looks like the criminal manipulators are backing off and allowing metals prices to rise rather than give away too much more metal at bargain basement manipulated prices. Big physical demand is the only reason these criminals are backing off of their games. With the boyz in retreat, the metals are rising on their own. But when physical demand backs off at higher prices, then the criminals will be back on attack.
Al, just read in the other thread, “anti semite, moron” your right about a person is entitled to their opinion. koodos for that. Thing is an opinion to one person can be an insult to another, I see no way around this with so many people from various up bringings.
Might I suggest the words moron idiot and stupid in recent times have become interchangeable, but they actually have their own meanings.
Can we use the appropriate language around here at least? lol
bb check your inbox
I got it jj. thx
Great point BB!
Hi Richard.. I had a thought the other day…Sorry if it seems out of the blue… November 30 when Suisse votes for gold repatriation… do you think the result yes/no will influence gold market in anyway? IMO, if it’s a yes, contrary to many believe that it could give gold a tailwind, I’m afraid gold would be attacked again to squeeze more gold to return to SNB.
Genesys; in the greater scheme of things, I believe it won’t make a difference. However, having said that, it could give a short term momentum boost if we’re trading in an uptrend fashion at the time.
Thank you for your opinion.
Who pays this franky guy to troll around here and make us all look like kooks?
I agree with BB, Catfish, we don’t look like kooks at all. Quite the contrary!
We don’t all look like kooks.
I know! But it would appear this franky is being paid to paint us as such. (My apologies if “franky” is a legit personality — but it sure seems like he’s always quick to post a mix of nonsense and optimism at the top of every thread…)
I do agree Catfish!
HEAR ME NOW…
I purposely have not posted since my bottom call on Friday September 19th.
I have no time to get sidetracked or dragged into the usual debates.
I decided I would only post when the next important market event happened, which was last night!
I made it clear that the 1212.80 price level that was hit on that Friday (ALIBABA Friday)
Was THE BOTTOM.
I made it clear that following week would be vital, which it was.
Truth be told so was the next week, and it was.
Gold held 1212.80 all the way up to this Friday’s orchestrated non farm payroll take down.
Sundays overnight take down was the FINAL CAPITULATION BEAR MARKET TRAP OVERSHOOT.
I said before any of the talking heads started admitting it that the ALIBABA IPO was the final stock market blow off. This is precisely what has played out.
Based on price, duration, sentiment we have our bottom!
NOTHING IN THE LAST TWO WEEKS HAS CHANGED MY OPINION
As they would say at the racetrack – Run, don’t walk to the window and bet with both hands!
FONZIE DID INDEED JUMP THE SHARK!
Here is the repeat of both posts I published on that fateful Friday September 19th…
On September 19, 2014 at 9:20 am,
James (the lesser) says:
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!
This was my second post…
On September 19, 2014 at 1:48 pm,
James (the lesser) says:
On Friday September 19th,2014 shortly after 12:30pm eastern standard time the GOLD MARKET BOTTOMED AT $1212.80
James, I’m just glad you don’t have carpal tunnel syndrome since you would have difficulty typing a synopsis that long.
DOC!…Good one…James is passionate and very thorough with his thoughts..wow….impressive!
they do not stay gone long…………
I must say, James, you could be correct about your call—–however, I don’t know if it’s the final bottom but I can tell you that I feel we’re very close to at least a tradable bottom—-the technicals are certainly indicating that if we can get through the next 2-3 weeks without another significant move down.
I think there are a few people here that will be watching closely Doc.
THANK’S JAMES ALL THE INFO !
Thanks, The Greater!
James,
I believe this time you’ll see that Fonzie falls short,
The shark shreds him to pieces as he desperately clings on to his beliefs, regardless of the odds stacked against him.
Its going to be very sad, yet in some ways somewhat amusing to watch.
……maybe you can coax Pinky Tuscadero to attempt the same feat when Gold is in the low 900’s ?……or lower 🙂
I hope so.
Cheers.
Doc, do you trade oil ETF’s, like XLE or OIH? They look like they’re bottoming to me. No uptrend yet though. Would appreciate your thoughts if you follow these. Thank you.
Bill; XLE looks very heavy right now and has broken the 200 week MA which it hasn’t since June and July of 2012. Also, the OIH has broken down but interestingly looks like there could be support at about 44. Ask me in the future what I think—–I’ll write them down and try to remember to post if I feel they’re getting exhausted.
In life it’s not so much what you say but how you say it, a lesson that I must keep improving on. Just think how far you can get in life if you can control your emotions, and think clearly. It’s worth much more then higher education but when the two come together you will never regret your life.
DT; you’ve got that right. I’m sure we meet people every once in awhile that can be rather obnoxious—-especially those that want to control others. If there isn’t any significant fallout from their behavior as regards major issues, I believe it’s always best to bite your tongue. What helps me is the belief that there must have been in the past an environment that contributes to their behavior or it’s in the DNA and they, unfortunately, are unchangeable.
DT,
RIGHT ON…..AGAIN!!!! My friend.
That Machine Gun is a couple of great points! Thank you!
This video is a year old.
NOSTALGIA ! Where are the DAYS ! https://www.youtube.com/watch?v=ykW6OaDc1TY