It’s a wait and see kind of day in the markets
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Interesting point Mr. Corleone
QE to finally come back? We just starting missing it. Low interests rate to infinity too.
Insiders will become unbelievably rich on the expense of ordinary folks
Lawrence…..That is so true.
DOC,
Not sure if you have mentioned it but do you see below 1183? or the bottom is in for you? Hui has a gap at 188..Some of my miners still have gaps. I believe you had gold going lower next year.
He said no re-test of the lows for the next 3 weeks yesterday
Proud; that would include this current week. I wouldn’t be surprised if we start to move down with gold sometime next week. There’s not a lot of strength to the current move
Glen; most gold stocks have not confirmed this minor move up by gold. My technicals and my gut tells me that gold is struggling here and I wouldn’t be surprised if it moved again down toward the recent low. In fact, I would personally like to see it. If it does and the PM stocks aren’t affected much by the move lower, then I would really purchase a number of stocks I’m watching. I’ve only nibbled very little on a couple of stocks I’ve wanted to purchase.
I bought GDX four times today and sold as not worth holding.
I don’t know guys, there was a time not too long ago when big down days in the stock market meant bigger down days for the miners. Their relative strength has been good in this respect, but I do agree when just looking things through the dollar prism.
Gold looks great when priced in stocks 😉 …
http://stockcharts.com/h-sc/ui?s=$GOLD:$SPX&p=D&yr=1&mn=0&dy=0&id=p12833350596
Doc,
As always thanks for your comments.
Doc,
I just wanted to add that one of the greats in mining rick rule mentioned over 6 months ago or even longer that this recovery would be more saucer shaped then a v explosive move up for gold/miners. It kinda confirms how you are seeing it. If that is the case it will go under the radar as it goes up day by day at a slow rate. Before the average retail investor realizes it, mining stocks will already have mad big gains.
Anyone know whats happened to Bird and others? has there been a ban?
glenfidish…..It’s been my observation that when gold climbs, Bird disappears…..wait for a decline and he will surely be back trumpeting that the gold bull is dead….just an observation….
Gator knows…………he is a bird hunter…………..
Gator…..have you been over to WALDO lately………..
J…you lost me man….WALDO ?….
Waldo….is outside of Gainsville, where the cops were nationally known as the biggest speed trap in the USA……they just got national press as having to lay off the cops, 70% of the city revenue was supported by speeding tickets…….
WHERE IS WALDO……………
Yup, gold is about to start another leg down, Gator. So satisfying. I never missed a day posting BECAUSE it went up though so I think you are not that good an observer. Makes no difference to me up or down (but down is more fun…..since it drives the bulls insane) Ha!!!
But when gold recently went up Bird the cries of “manipulation” on here where that deafening I had both hands over my ears !
….oh…..hang on…nah…..it was complete silence…..why ?
Bird,
Welcome back always good to get a different perspective of things.
No…..there is not ban on BIRD…………..I think he is still flying south for the winter.
Waiting for the Bird to fly over the blind…..flyin south…..
that is what you call a croc leading the blind……………rather than the blind leading the blind………….
No ban whatsoever. I simply said: “no more personal derogatory comments”! And after that, I still had to take a few off.
Sorry to miss those guys. I assume you are talking about Bird, Andrew and Heavy.
Big Al…please elaborate on “had to take a few off” Do you mean posts or persons that you removed? Have you removed anyone permanently from the site for perceived personal attacks? Just curious. If anyone has been removed permanently for anything other than fowl language then I must join the crowd of dissenters. Free speech should not be censored but then again it is your site and you should be allowed to operate it as you see fit. Regards……
I was not referring to Bird when I typed “fowl” language. A typo…foul…
good one Gator…………….to funny……..j
Banning someone for abusive and fowl language is not censorship in my book. True censorship is about those in positions of authority making sure that ideas and information that they deem threatening to them don’t reach a wide audience.
only under the authority of Waterfowl management…should dirty birds be allowed to speak, without prior written permission.
You are wearing it out Jerry.
Matthew and I are joined at the hip on this.
That must make putting your pants on difficult Rev. 🙂
Hey bird………welcome back……I was just filling while you were gone……Now, is your chance to fill the flight line………………….Fly little birdie…………j.
Open a good red AL ! You insane Rick rule tell US !
Hallo? Both HH and I have reasons already explained for going easy right now on Al’s site.
Best to all, A
Rev,
good choice! Keeping the peace is much better and less stressful on the mind. Better to love your neighbor then despise.
Yes Al! Thanks for clarifying that.
Where is AVI doc?
He is still with us, BK
Agree with Doc on the Fed choreographing a steady stream of balderdash into the markets.
You really think so, bj?
Nah, just kiddin’…
But the hedge funds sure to like to play the banter up and down.
BTW, was reader some of Hals posts on a different string out here. Gotta agree, the strip malls have lots of vacancies everywhere, and if you subscribe to the notion that S-Corporations are the primary drivers to grow employment, ergo the economy, then things aren’t looking so good. Even the big malls have little foot traffic. Will be interesting to see the numbers for the upcoming Black Friday, but first we have to get past trick or treat…and thinking the Fed will treat its cronies on Wall Street by printing a whole bunch of candy out of thin air..
Richard, not for nothing, and I do love your input and views and respect you immense,y, you have been saying “2 weeks” for a few months now. I don’t think you can take the craziness these last 2 weeks with the gold stocks not confirming as gospel
and they could easily confirm tomorrow…yea i said it, and i have been a gold bear also for months. It seems like Gold stocks are sitting on a powder keg to the upside…and the FOMC is providing the fuel…see the USD today? Expect much more downward from here..anyway thank you
NYC, this market is driving me almost to drink right now. I am almost in your camp as regards the dollar. Both the daily and weekly are shouting a topping pattern and a drift sideways or down for some time. Then we get to see what November brings. If we don’t see a further move up for the dollar in November, it could be this was a one time event for the dollar move. The Yen appears to have bottomed and the Euro is moving down closer to long term support—–that tells me there isn’t going to be any significant move higher for the dollar for some time. And I agree with your feeling of “sitting on a powder keg to the upside”. That is why I’m “nibbling on some stocks I’ve wanted to buy for some time. Gold appears to be getting a little tired on a short term basis but that’s okay since it’s move higher has almost guaranteed a trading range for some time. Some of the PM stocks have bounced off bollinger bands and will probably move toward them one more time. I’ll then become a serious buyer since if they then technically turn down against the bands, I can always exit with minimal loss. However, the odds of that happening (IMHO) are small since we’re getting very close to the end of most of their cycles. Hope this helps into my thought process. Doc.
RICHARD…….I think its time you took a holiday..( I say that in a caring & respectful way )….It does not matter what system or systems you are using…The “PPT” have a system that checkmates all of yours……With respect….Tony.
ditto IRISH……………..
Thank you..i am currently thinking (and with gold stocks of course it is never easy!) that Yellin rallies spoos and Gold Stocks tomorrow and perhaps will surpass last weeks high at a minimum. However, next week we may see that test of the lows in the gold stocks i as everything gets dumped as they will want action i.e. QE taper tapered with promise for more as needed, then gold will ramp in a big way. if the Fed does nothing then all bets are off and Bird 1050 may be next stop…anyway that will probably change tomorrow 🙂 with all the craziness
Hi Richard, one aspect that has not been talked about is telephone trading, with discount brokerage houses people can get an app and with their cell phone telephone an order in instantly to buy or sell. Most of them don’t know the slightest knowledge of the company upon whose fortunes they are relying upon but they are wired to the technology that they think makes them smart. A seasoned investor knows how cruel this thinking is when applied to the markets.
I consider it a very useful thing that I can trade from my phone. Whether you’re traveling or simply have a power outage, it’s nice to be able to keep doing what you have to.
You can even use it to remotely log off your trading account regardless of what computer you were logged on to.
Matthew,
Your in/out of the market far more than me, especially GDX & GDXJ
Have you ever bought Sprott’s Gold Miner ETF ?
Regardless of yes/no I’d like your thoughts on it if your willing to share ?
….I’ve have not bought it, but am looking for opinions on here of what people think of its potential for when gold eventually goes up ?
Cheers.
For those unfamiliar with Sprott’s Gold Miner ETF.
J Taylors latest podcast spoke about it during the second half of hour one.
I honestly had not heard of it before that.
But am interested in peoples thoughts of the way its “weighted” differently to GDX.
Cheers.
I like SGDM and started buying it recently and own it right now. Its holdings are at the safer end of the risk spectrum than most of what I own.
http://www.sprottetfs.com/holdings.php
I also like that it was developed by Sprott and Zacks.
http://www.sprottetfs.com/documents/pdfs/sgdm-fs-20140930.pdf
Thanks for your thoughts on it Matthew.
I just bought a little more a minute ago at 19.75 but a retest of the low at 18.76 seems fairly likely to me in the very near future.
Richard,
Are you nibbling on GPR?
the doc is right.Bullard is part of the propoganda machine.they are the skeletons in the closet and when the fed wants to make some point they choose one,contact cnbc and tell them to give him some airtime at the peak hours of the day to spread its agenda.It is indoctrination;pure and simple.