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Not a lot of clarity in the markets.

Big Al
October 7, 2014

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Discussion
18 Comments
    bb
    Oct 07, 2014 07:46 AM

    World on the brink of oil war as OPEC bickers over price
    A secretive group of the world’s most powerful oil ministers will soon gather in Vienna to take arguably one of the most important decisions that could affect the still fragile world economy: whether to cut production of crude to defend prices at $100 per barrel, or keep open the spigots as winter looms among the biggest energy-consuming nations?

    A sudden slump in the price of crude has exposed deep divisions within the Organisation of Petroleum Exporting Countries (OPEC) ahead of its final scheduled meeting of the year next month to decide on how much oil to pump.

    Some members, led by Iran, have called for immediate action to stem the drop in oil prices, while the Arab sheikhdoms of the Gulf have so far argued that it could be another three months before it becomes clear whether the group should cut production for the first time since December 2008.

    Crude oil prices, along with the prices of precious metals and copper, are 100 percent controlled by the gaming of the technical funds by JPMorgan et al in the Commercial category in the Comex paper market. Until that changes—nothing changes. This story put in an appearance on the telegraph.co.uk Internet site on Saturday at 10:50 a.m

    Just posted as oil was mentioned
    maybe someone is interested.

    bb
    Oct 07, 2014 07:51 AM

    Doesn’t the fomc generally say the US economy good and gold gets hit?

      bj
      Oct 07, 2014 07:33 AM

      Copper says a lot about the direction of the real economy–domestic and global. Look at a two-chart of copper, for example–down around 25%. That suggests the to me that the real economy is going to sleep while career politicians will continue to blow bubbles and sing happy songs.

      http://www.nasdaq.com/markets/copper.aspx?timeframe=2y

    Oct 07, 2014 07:59 AM

    As the markets tank platinum and palladium experiencing strong price increases, but gold and silver flat. To me it just smells of manipulation on an almost insulting scale. The invisible hand just can’t have gold and silver appear as a safe alternative to declining stock markets.

    Oct 07, 2014 07:04 AM

    Hope you all listened to me yesterday.. Its a slaughter house out there.
    Still on the sidelines getting very very very close to buying in.

      Oct 07, 2014 07:42 AM

      Hi Glen, Do you have a target for the HUI? Curious to hear when you start buying in.

        Oct 07, 2014 07:24 PM

        Doc Fan,

        I gotta tell ya that the Hui does not look promising. Im targeting 168.. It may gap down into that area. Xau target of 70..gold

        I will let you know the moment i buy. This is capitulation and when it turns, it will leave most behind.

    Oct 07, 2014 07:04 AM

    Banging my head against a wall.

      Oct 07, 2014 07:14 PM

      Probably best to stop that.

    Oct 07, 2014 07:03 PM

    Wow!!! Gary now thinks one should wait next summer to buy Gold. Gold will bottom out in the summer. Gary I must tell your making my head spin with all of your predictions..

      Oct 07, 2014 07:26 PM

      Sorry I can not agree with Gary on that call……I believe we are hovering about the bottom right now……in the physical market.

      Oct 07, 2014 07:07 PM

      It’s been the same for weeks now. Once oil made a lower low that signaled that the CRB is heading down into its three year cycle low due next summer.

        Oct 08, 2014 08:53 AM

        I’m in total agreement with Gary,
        We ain’t seen nothing yet in lows for metals.

        By all means buy up big on the miners if you think the bottom is in.

        ……I’m personally going to wait for the carcass in the next year or so.
        To each their own.
        Good luck.

    Oct 07, 2014 07:40 PM

    Good thing I did not get into gold stocks again. The bottom is likely not in. My account actually gained a little today with the sharp down day but the prior 2 days I had good gains..

    Oct 07, 2014 07:18 PM

    I bought a little more GDXJ today at $31.31 after Friday’s low was tested and held, to the penny. I am not calling a bottom, but there could be a tradable bounce before we see the final low.

      Oct 07, 2014 07:51 PM

      Similarly, I’m in JNUG near the close. Gold stocks followed the broader markets down today. My view is they play catch-up to gold this week, also feel the odds are with gold heading more north than south this month.

        Oct 07, 2014 07:15 PM

        I hope y’all are right. I have held my JNUG since Friday’s close. Kicking myself for not selling this morning.

          Oct 08, 2014 08:02 PM

          Well I hope you’re still hangin’ in there boyz. Nice catch with GDXJ up near 10% and JNUG up over 27% at the bell.