Gary is exercising a little patience.
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The problem with nails………..sometimes they bend, or get crooked…..
it is a good thing that we have automatic nail guns, it elevates the need for experience.
elevates………….ha,ha………spell check has a mind of it’s own…….alleviates.
Yeah it does, Jerry!
Haha, or they can use “Liquid Nails” 🙂
113 points in the S&P in 5 days. This thing is rallying faster than it fell. At this rate the Fed is easily going to have the market back near the all time highs for the last taper.
Good point, Gary!
Around 5% in 5 days for the S&P. Wow, it’s to the moon Alice–amazing! But doubt they have enough go-juice to escape gravity, much less rocket there . More likely this is another of their hot air balloons that will orbit a bit before crashing. Let’s just hope the Fed never runs out of huff and puff.
I don’t think that it will bj, at least in the short term.
Fed can print as much as they are willing to. No doubt about it. Deflation is a hoax. If they print enough, any asset can go up.
As Bernanke said, wealth effect is what they are targeting.
You got it Gary. That’s what I believe is going to happen. Actually we should exceed the highs by the meeting. The next move after that in my scenario is that equities take another corrective dive and form a nice fat double bottom before heading higher again.
In other words, we get a retest with the last taper (mini taper tantrum) and the setup for a fairly strong move higher through the end of the year off a strong technical base. Doc was saying he felt it would not play out according to my schedule but so far its coming up beautifully.
Remember Bird, your prediction is considerably lower. Actually less that $1100!
I am talking about US equities in that last comment Al.
GDXJ is still up 10.7% vs SPY since 10/8 and will continue to outperform on a net basis from here, in my opinion.
http://stockcharts.com/h-sc/ui?s=GDXJ:SPY&p=D&yr=0&mn=5&dy=0&id=p67191016494&a=372425482
Your head must be swimming in MACDs and RSIs and Ratio Charts and the like. I get overwhelmed if I go to deep into this stuff. I am still playing some micro-craps but am seeing strength come into the small producers now IMHO.
Small low cost producers. Argonaut Gold is a super buy.
Now that is a mini-micro-crap.
Wow, Dan, Argonaut is no micro or even mini crap to me! I have companies that would have to go up 25 times or even more just to reach the same market cap!
Haha… AGA (Argonaut) isn’t producing yet but owns %100 of two adjacent properties in mid NW BC with close by infrastructure and past mines and grab sample type of prospects.
Cash in hand of whatever is in their pockets.
Ohhh, you’re talking about Argonaut Exploration! Now trading at one cent.
http://finance.yahoo.com/q?s=AGA.V&ql=0
You mean the company that just lost its coo and cfo because he resigned?
Hilarious (;-D What a difference between the two…
Big Al, can some of the three “mosquetyrs” talk about the time to buy on the dip in long term gold?
I think that they have. Will be a bit more pointed in my questioning tomorrow.
Who says crime doesn’t pay: http://www.reuters.com/article/2014/10/17/us-usa-fed-pay-idUSKCN0I60A420141017
chris…..They deserve that money as they do such a great job for their country…….
OOOOPPPS….Sorry I meant to say their Zionist masters.
irishtony, this one is for you: https://www.youtube.com/watch?v=Bj_lZ4hkJd8 A little bit of Brit humour.
Okay Chris, you are talking to the Big Rocker. Do you remember Arthur Brown and “Fire”.
Well here it is: http://www.youtube.com/watch?v=en1uwIzI3SE
I saw this guy perform in Seattle. I heard that he was professor at Oxford!
I have a first pressing of Arthur Brown’s first record in mono, ..Track records (UK). A few years back somebody offered 300 bucks for the record, but I didn’t sell it.. that cover in LP form is far out… and the chances of finding another mono version are slim.
Out of curiosity, Big Al. Did you ever see The Sonics or The Fabulous Wailers live? They were from Tacoma. Anyhow, the bands the came out of the Pacific Northwest in the 1960s were something else. The bands out of that scene just loved to play LOUD. Some of those records are very “heavy” for that time period.
Some examples: https://www.youtube.com/watch?v=Fs4jp_VT_hg
https://www.youtube.com/watch?v=oFtUgTn3_KM
https://www.youtube.com/watch?v=hVWAE6n_G4Q
Big Al, I just love music. I don’t know if I ever said this on here, but I have close to 3000 records. Yeah, I have a problem.
And before I go, here are two songs by a Canadian group called It’s All Meat. Their one and only record released in 1970 is considered to be one of the greatest Canadian rock albums of all time:
https://www.youtube.com/watch?v=teB-EqH0UBU
https://www.youtube.com/watch?v=RAPP4yWO8LM
chris….Thanks for that…That policeman bypassed all the hookers to arrest a man trying to earn a few quid….the said hookers would pick your pockets clean , while giving you a b££wj£b in some alley in soho…….I know soho very well as I ran my own sex shop in Dean st. soho for two years…1974-76…What a place to work.
You are a really fascinating character Tony! Not many people would run a sex shop. I wold love to hear a few of your war stories actually. No doubt there is some interesting dramas you could share.
Those salaries are more than reasonable. It is not Fed staffers that are establishing the path. They are following orders. If they happen to be setting the path they should be getting paid more because they are working hard to keep things going.
Peter…They should all have a Sugar moment..( Your Fired )…& the FED should be banned from the US.
No comment, Chris!
Peter R Oct. 15th “Gary is out to lunch”
How does that crow pie taste?
Gary, I doubted you when you made that call last week, but I will be the first to say that you nailed it. I tip my hat to you, sir.
Thanks Chris. Sometimes I get it right and sometimes I miss badly. This one I got right.
I think some folks may have gotten the wrong idea today. This is just an intermediate bottom for gold, not a final bear market bottom. That will come next summer.
This will just be another counter trend rally that will fail to make higher highs and roll over in 1-2 months.
Gary,
1-2 months rally would be 8 weeks give or take. Did you not say that intermediate bottoms typically run from 22-25 weeks? Your essentially saying that if this is a true intermediate bottom it will top out at 8 weeks?
Im referring to gold above. As of todays action Gary are you taking back yesterdays intermediate bottom call in gold or that has been out in already and todays decline is more the daily cycle low?
Great segment, thanks!
The Fed will never stop QE because the 2008 crisis never ended! It’ll probably take some kind of dramatic reset for everything to get back to normal and maybe that happens over the next couple years. I heard something this morning that stuck; The Fed has a two-sided hammer and to them everything looks like a nail. So I imagine they’ll keep pounding away until someday there will be so many nails they won’t be able to keep up the pace. Then the phony structure will collapse while the Gold Bugs and Silver Stackers are sittin’ pretty.