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Early thoughts from Gary.

Big Al
October 29, 2014

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Discussion
125 Comments
    Oct 29, 2014 29:26 AM

    Gary, right on. Al, please review Gary’s commentary please. Typically, the only thing he is right on about is calling things after they have already happened. Take a look at silver guys.

      Oct 29, 2014 29:18 AM

      One day sure don’t make a trend but S&P has not got its work cut out for it to keep things inflated. Sorry Gary. We will have to wait till tomorrow for me to eat my words.

        Oct 29, 2014 29:20 AM

        Now we have a lower low and today we likely have a lower high. If it looks and smells like a downward trend I would venture a guess that it is.

    Oct 29, 2014 29:28 AM

    LOL who was it that said I was out to lunch two weeks ago when I called the bottom in the stock market?

    I’m still waiting for you to retract that statement.

    Oct 29, 2014 29:45 AM

    Once S&P challenges top I will gladly as I am pretty sure you said we will challenge top. Today could be the day I retract but we are not there yet. Gary, you have to admit you have had difficulty forecasting in recent months. Your call on new stock market highs may turn out to be correct but that does not dismiss the challenges you have had with commodities.

      Oct 29, 2014 29:46 AM

      And that just goes to show, Peter R, that we are all human!

      Oct 29, 2014 29:18 AM

      I would point out that the Transports, biotech, utilities and NDX are all challenging the highs or have made new highs. The regular markets have high odds of following the leading sectors in the days ahead.

    Oct 29, 2014 29:50 AM

    V.FMG release their first resource last night that provides a glimpse of the potential of the property. 225,000 ozs at 6.6g/t gold equivalent (9 million plus ozs. silver) at surface that is open pitable. This is based on less than 2000 meters drilling. There are about a dozen other zones identified and several that are larger. Major partner and significant funding should be confirmed in near term. For those looking for a high risk reward option. Not investment advice.

    Oct 29, 2014 29:52 AM

    Yeah but by the time they get it right investors would have already lost trust in them.They cry wolf to draw attention and increase popularity.Imo it is counter effective but I guess these guys are a bit dillusional or else they have a hidden agenda.

      Oct 29, 2014 29:58 AM

      If you are talking about the Fed, govt, etc. I don’t think that any of them has a hidden agenda. I believe that each entity is firmly convinced that it is doing the right thing and each entity hopes beyond hope for organic growth to resume.

    Oct 29, 2014 29:02 AM

    Gary what makes you so sure that gold is not forming wave e of a descending triangle primary wave 4 that started on june 2013??

      Oct 29, 2014 29:13 AM

      I’m not familiar with Elliot wave so I don’t know what a wave e is.

    Oct 29, 2014 29:03 AM

    I was referring to the paid analysts like greg mannarino,peter schiff and the rest of the …. you know what I mean

      Oct 29, 2014 29:37 AM

      Don C, you mean people who are paid by companies to write reports on them?

        Oct 29, 2014 29:37 AM

        Iam not generalisig by any means Al.There are people out there who are professional and sincere but many are biased.

    Oct 29, 2014 29:16 AM

    I have been listening to Gary most of this year and have found him to be pretty much spot on in his calls.

    He has called the top and bottom in gold at least once this past Summer and has been right about the recent rally in general stocks. If you don’t like what he has to say the solution is simple – stop listening and go elsewhere.

      Oct 29, 2014 29:32 AM

      Agree Bob. When you consider Gary (and the other guys who drop in for an interview) make market calls 5 or 6 days a week you can start to piece together their outlooks from the big picture. Gary has done well lately. So have Rick, Doc and Chris. I think Al has an all-star group here and they each cover their own area and time periods pretty darn well.

        Oct 29, 2014 29:39 AM

        Thanks Bird.

          Oct 29, 2014 29:23 AM

          Al or anyone: Does anyone have a take on what the impact long term will be on PM’s should the Swiss vote on 30 November to back their currency with 20% gold? Indications are that it will pass……………..

            Oct 29, 2014 29:49 AM

            DAI…..See my post below….For what its worth I think it will pass..Unless the Bankers pay for the vote to be knobled..

            Oct 29, 2014 29:00 AM

            General feelings seem to be positive for gold.

          Oct 29, 2014 29:39 AM

          Sure thing. Where is Chris by the way? We have not heard from him for a few days.

            Oct 29, 2014 29:02 AM

            Visiting his father.

            We should be chatting with him in a few hours.

            Oct 29, 2014 29:26 AM

            Didn’t mean to pry. I thought maybe he was off on a holiday.

      Oct 29, 2014 29:35 AM

      I’m not going anywhere. I enjoy Gary’s predictions, and Doc’s too.

      Oct 29, 2014 29:38 AM

      Better solution Bob UK, listen to everyone and then make up your own mind. I don’t mean you specifically, I mean in general.

    Oct 29, 2014 29:32 AM

    The weird thing today before FOMC is USD is sold and silver jumps but gold is very timid..

      Oct 29, 2014 29:35 AM

      genesis…..Yeah I noticed that…very strange , based on the past meetings.

      Oct 29, 2014 29:42 AM

      Speaking personally, I think silver has already bottomed. It met my definition of a pullback from its peaks when it fell below 16 dollars. That was a big deal from my perspective because the declines were significant and spread across many years. Perhaps it will now just consolidate until gold makes a decision.

        Oct 29, 2014 29:52 PM

        Bird, I agree—-the bollinger bands have really narrowed and I believe we seek out the recent low and then watch out for a move one way or another.

          Oct 30, 2014 30:02 AM

          Good morning Richard. It looks like we are in for a retest of those silver lows after all. If I recall correctly it hit 16.68 on a spike down in early October. It should be interesting to see if she drops below that since we have already touched 16.82 in the futures this morning.

        Oct 29, 2014 29:34 PM

        Seems silver is resistant to attack today after fomc… could be closer to bottom than gold..

        Oct 29, 2014 29:07 PM

        Not so sure Bird.. I’d like to see a touch and go with 15 if gold falls below 1180.

    Oct 29, 2014 29:33 AM

    Bob…..Not trying to be funny , but I think most on here has called the top & bottom at least once this past summer….so really no point giving Gary a gold star.

      Oct 29, 2014 29:39 AM

      Well Mr. Irish, at least some irish stew!

        Oct 29, 2014 29:43 AM

        Hi Al…..Yes if ever I get to meet Gary I will indeed treat him to the best Irish stew, he ever tasted.

          Oct 29, 2014 29:11 AM

          I gotta be in on that!

    Oct 29, 2014 29:38 AM

    Hi Al, see if you can get Alf Field on your weekend show. He’s gone underground.

      Oct 29, 2014 29:40 AM

      I will see if I can find him.

        Oct 29, 2014 29:43 AM

        I bit of investigation shows that he was pretty off in his views for the past couple of years. I noticed that he is a chartered accountant and has an investment firm.

        I will continue to try and track him down.

          Oct 29, 2014 29:55 AM

          AL & ALL….I hope you are all following what’s
          going on with the SWISS referendum….
          There is a good article over at GATA….Grant Williams..This Little Piggy Bent The Market…..I think its important we all follow this thing, & make a donation towards the cause , ( I have )..This is not just a battle against a Central Bank, no this is a war& one the people of Switzerland could win….If the yes vote goes through watch out for the fireworks.

            Oct 29, 2014 29:12 AM

            Grant is in Tokyo right now. Hopefully, I will be talking with him soon.

            Oct 29, 2014 29:34 PM

            Thanks Tony for the excellent G. Williams article. Hopefully, Al can get Williams on the show for an update on the initiative. Makes me want to go out and buy Swiss francs! If the Swiss gold initiative does pass, I wonder if the gold rich Russians and Chinese may follow suit perhaps sooner than later? If so, would that not make we Third world countries like the U.S. And GB start sweating bullets a bit?

            And all along, I thought you to be just another Guiness guzzler hanging out in Pubs watching your favorite and rather violent football games………………..

          Oct 29, 2014 29:59 AM

          Alf was too bullish in April of 2013, and has been quiet since gold failed to hold at 1500. But he was right while gold soared from 250 to 1900. And he’ll be right in the long run.
          But I seem to recall he said he was retiring from making predictions, so you may have trouble finding him.

    Oct 29, 2014 29:06 AM

    On the day of the low, it looks like even I was more convinced than Gary…

    On October 15, 2014 at 1:03 pm,
    Gary says:

    A bit undecided here. The market didn’t close positive like I wanted to see but we do have a huge 40 point reversal. Let’s see what tomorrow brings.

    On October 15, 2014 at 1:13 pm,
    Matthew says:

    Still looks like a great candidate for a lasting low to me. Check out the volume.
    http://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=1&mn=0&dy=0&id=p98348250978

      Oct 29, 2014 29:14 AM

      You are pretty good in yor calls, Matthew!

        Oct 29, 2014 29:38 AM

        Thanks, Al. Btw, Birdman made no comments on the day of the low or the day after. So I think he’s exaggerating his greatness (again). To be fair, I could be missing something.

          Oct 29, 2014 29:00 PM

          Nobody did any exaggerating at all and nobody was addressing you either. I only spoke of facts so don’t interpret with a bunch of personal sh*t which is your usual modus operandi.

            Oct 29, 2014 29:25 PM

            You attract scrutiny when you rudely say to someone, in this case Gary, the following:
            “Don’t irritate me. In fact I also called that bottom…”
            I simply pointed out that you did not stick your neck out with a bottom call on the day of the low or even the day after.
            If I pulled the same thing, you would be ruthless.

            Oct 29, 2014 29:40 PM

            Gary’s call was superior. So,next time, try leaving out the words “Don’t irritate me” and there will be no problem. It’s not complicated. 😉

            Oct 30, 2014 30:05 AM

            The discussion came from the same thread the same day. It is time for you to stop creating problems on this site every single day and maybe put an end to your personal obsession with me.

            Oct 30, 2014 30:21 AM

            Note that I said above “To be fair, I could be missing something.” You’ve yet to show that that is the case.
            You made an inferior call but took a victory lap anyway. Your rudeness to Gary was obviously unwarranted.
            If anything has to stop, it’s antics like that.

    Oct 29, 2014 29:13 AM

    OK, that was a pretty funny show Al. I just tuned in and listened and could not stop laughing. Are you trying to tell me (the biggest gold bear on your site) to curb my enthusiasm about metals? Ha!!! Too damned funny.

    I NEVER thought I would hear a commentary like that in my life!

    Getting back to business now, my comments yesterday were not precious metals specific so much as they were remarks on what I see shaping up with commodity markets as a whole.

    Take a close look at the grains.

    Corn, Soy and Wheat as good examples. They have really taken off which is in line with my summer commentary that they would bottom and then bounce as stocks peaked. That has in fact happened as anticipated.

    Now today we have seen crude, natural gas and heating oil break out and I think we have a trend in play. Copper, palladium and platinum are also moving positive again. So I might just be the first but I am calling a bottom on the GSCI (Goldman Sachs Commodity index) as it looks to me that it is turning up.

    This is important even if gold does not initially respond because it signals that a deflationary trend is ending where resources are concerned or that there is a rotation out of stocks and into commodities taking place. We have to watch this closely. It also tells me the dollar is about to decline….or rather continue its declines that began when it peaked at 87.

    So what is my real point?

    As I noted yesterday, it would not make sense for the Fed to exit exceptional interventions when the economy, and most of the commodity group, appears to be in a deflationary cycle. We should anticipate therefore that most of the major resources will now be on buy signals and will move higher which is a message to the market that the economy is on the mend and demand is firming up again.

    Silver incidentally has responded along with copper. It is not behaving as money but rather acts like an industrial commodity again. Of particular interest to me is that the Canadian dollar looks to have stopped falling and has now turned up. This tells me that energy and resources in general will benefit. (where is Chris by the way?…now is a good time to start talking about oil companies again….soon)

    So basically, I am getting secondary confirmation from a variety of commodity ETF’s that is providing a better basis for my beliefs. Take a look yourself and tell me if these look to be on the rise. DBC …GSG….RJI ….OIL ….USO….GCC…..the list goes on and on.

    S&P GSCI Index Spot – Goldman Sachs Commodity index
    http://markets.ft.com/research/Markets/Tearsheets/Summary?s=7421913

      Oct 29, 2014 29:57 AM

      I am a bit miffed by natural gas – was hoping to see it go nearer its 52 week low before it headed up again. UNG.

        Oct 29, 2014 29:07 AM

        I was watching it too, Bab. What is important for me to know though is if we have in fact arrived at a critical juncture where the resource sector begins to rise again and thus have the best shot at riding that move for as long as it goes. It is improbable that commods are going up because of growth though. Something else is at play. The grains are certainly not moving on supply/demand fundamentals. They are moving off technical levels so that suggests price is machine and algo driven. But consider that buying was strong for the big producers and anyone who locked in at the bottom will see profits improve next year as costs feed through to sales.

    Ken
    Oct 29, 2014 29:29 AM

    We know from history that when the last few pumpers throw in the towel on any trade we are near a bottom.

    Given what I’ve heard this week from most prognosticators here and elsewhere I will now be on the buy after the FED minutes….

    There isn’t one broadcaster willing to buy…

    That is my signal…
    I will also short oil and the refiners very soon because many are calling the bottom in oil.

    Over the last 5 years this has been a beautiful trade…
    I also will short the market shortly as well…

    Ken
    Oct 29, 2014 29:37 AM

    Fibonacci retracements both up and down from their recent swings on many markets are hitting 61%

    Gold long term is right at it’s 61% Retracements form it’s high….
    All US markets are at 61%.

    It would definitely appear that many people are gonna get trapped on the wrong side f the trades in the next week.

    Margin debt is now record high…..

    I think this week is gonna be fascinating. I think capital flows have flipped. The big money who bought the bottom last week are selling..

    I know I did sold the trade from last week this am.
    I think the smell in the air is retail going all in on the dip and big money selling…

    Oct 29, 2014 29:38 AM

    Uranium back up over $35 today. Some of the stocks have been hammered on huge volume like the junior I own. Just sayin’…

    Ken
    Oct 29, 2014 29:40 AM

    One more thing go to the chart of any US index.

    Oct 2007 to Dec 2007 and then watch from Jan 2008 to March 2009.

    Now compare that first chart to Sept 2014 to now…

    Lower highs baby. The next month will tell the story

    Oct 29, 2014 29:41 AM

    Hey Al!

    Tahoe Resources (THO-T) and Silver Crest Mines Inc (SVLC-A) are both still protifable at the current silver price. In the case of THO-T, the company is extremely profitable and is talking about bringing in a dividend. Very impressive for primary silver producers, in this price environment, I suspect that you would agree. My question is, would you consider interviewing the IR people from primary silver producers that are still profitable now for your show? I think that your listeners could benefit by learning from what they are doing right. Because obviously many other primary silver producers are not showing a profit now. It is my belief that profitable producers will get rewarded first when the price of the commodity goes back up. I know that this show focuses a lot on exploration juniors, but in light of the current price environment, what not bring the IR people on from these companies, Silver Wheaton and maybe First Majestic (FR-T, as they are I believe showing a small profit as well and have said that they are committed to further significant cost cutting )

    MAX
    Oct 29, 2014 29:48 PM

    You should not bring Mr. Polny in your Show! He is just selling overpriced Newsletters and was wrong many times before. Yes Gold at 2000 end of 2014! Calling the bottom several times.

      Oct 29, 2014 29:35 PM

      Al,

      I agree with MAX. The last time you had him on he acted very strange to say the least. There has to be better people out there. This is not a suggestion but just curious, when was the last time you had a woman on?

        Oct 29, 2014 29:00 PM

        Not that I am a sexist, but it has been a long, long time. Probably Linda Thorstad and before that Joey Freeze. Before that a long time ago when I had Pam and Mary Ann Aden on.

        Any thoughts?

          Pam and Mary Ann Aden…..just did an interview at McAlvany…….great one, because it just cover the dollar ,gold, and stock market………….

            Oct 31, 2014 31:12 PM

            Jerry,

            I recently discovered McAlvany and find him to be pretty sound. In the few recordings I have listened to I do not hear him making silly predictions or exaggerating things like many others do. I like the fact that McAlvany also recommends people having some money in cash and cash equivalents as well as bonds.

            McAlvany stated in the past “we have suggested for many decades where a part of the mandate that you adopt is liquidity, which is cash and cash alternatives. A part of the mandate, on the other hand, is growth and income, which is stocks and bonds. And a part of the mandate, the third mandate, if you will, is insurance-related – commodities, specifically, precious metals. It is taking a balanced approach, acknowledging that A) you don’t know exactly how the future will look, and B) you don’t want to put all your chips on one number, one color. This is the circumstance we are in today. It is difficult to preserve wealth, but it is vital to do, and to make a best effort to take a balanced approach, not knowing exactly what policy measures will be implemented, and what the market response will be.”

            Very sound advice!

            The Aden Sisters seem to be also sound in their thinking. In the interview they made positive comments on bonds currently. They stated that bonds, on a big picture basis, are starting to outperforming the gold and stock markets. They stated that bond investors are more sophisticated and more forward looking than stock and PM investors. I certainly can concur. They also correctly state that gold is in a bear market.

            The Aden Sisters prior to 2013 had a better than average track record.

            http://www.cxoadvisory.com/5782/individual-gurus/aden-sisters/

          Yes,,,,,why don’t you try and get YAMADA…………..

            Oct 29, 2014 29:29 PM

            She is a nice lady. Had dinner with her and others a few years ago. Thanks for the reminder. I will call her.

            Oct 29, 2014 29:18 PM

            I use to like yamada but then she put a spell on gold lol. I cut her off as she is a paid insider by the bankers.

            Oct 29, 2014 29:27 PM

            I am curious as to why you would say that.

          ONE MORE…….see if Yellen will come on…………

            Oct 29, 2014 29:31 PM

            Could you call her for us?

        Oct 30, 2014 30:54 AM

        Even Bob Moriarty agree with you JMiller. About Bo Polny, He recently said:

        ” I’ve seen several interviews with Bo. The only problem with his cycles theory is you can’t logically or factually see his argument. Now if you look at my comments about silver, gold and the stock market, factually we know the U.S. Dollar Index went up 12 weeks in a row. That’s not an opinion; that’s a fact. I’m using both facts and logic to make a point. When a person walks in and says, okay, my tea leaves say that gold is going to be $2,000/oz by the end of the year, you are forced to either believe or disbelieve him based on voodoo”.
        ————

        That kind of sums up the sentiments of most people around here I think.

    Oct 29, 2014 29:30 PM

    Everyone is against Bo Polny. He seems to be the punching bag for all the gold bulls that got slaughtered. There is plenty of blame to go around.

    Start by listening to these snake oil salesmen.

    Do your own homework!

      Oct 29, 2014 29:45 PM

      I, for one, am against Bo Polny for good reasons. He made a silly statement that gold WILL hit $2000 by the end of the year. He stated last year that gold bottomed at $1321 and will never go below that. And lastly the fact that he acted strange on his last appearance here. Unstable.

        Oct 29, 2014 29:04 PM

        Gentlemen,

        He may not be back. Nothing against him personally at all. I just don’t like his shtick!

        Oct 29, 2014 29:53 PM

        Does not take an expert to look at the charts and see a strong downtrend. It could take many years to hit 2000. Year end target is more like 1300.

      Oct 29, 2014 29:51 PM

      Seems to me, James, I have said that about a million times!

      Oct 29, 2014 29:19 PM

      James,

      Looks like your low is going to give way..

    Oct 29, 2014 29:32 PM

    Bo, Like Gary is just trying to make a living.

      Oct 29, 2014 29:51 PM

      Making a living or making a killing!

        Oct 29, 2014 29:20 PM

        Al, lol thx for the laugh

          Oct 29, 2014 29:28 PM

          Laugh for what?

            Oct 29, 2014 29:39 PM

            Al,

            The part about making a killing. I believe his subscriptions are very high.

            Oct 30, 2014 30:47 AM

            I guess the question Glen, is on what!

    Oct 29, 2014 29:57 PM

    The fact that so many people were positive the Fed wouldn’t taper gave me the contrarian incentive to assume they would finish it off. It shocked most people that they did finish the taper, but it just makes sense. Why wouldn’t they allow the market to know they NEED the Fed? A drug dealer needs his clients to know they need their fix. That way the dealer increases in value.

    Oct 29, 2014 29:13 PM

    Wise guy what are you talking about?
    Everyone knew they were going to finish the taper.
    Didn’t you read my post where I said the probability of finishing the taper was over 95%
    It didn’t shock anyone

      Oct 30, 2014 30:15 AM

      Hunh? James, the whole blog community almost to the last man stated there would be QE to infinity and beyond and that it would NEVER end. The leaders of that cult thinking such as Peter Schiff and most of the guests at KWN were insistent that QE would carry on and every guy and his dog who posted on this site seemed to be in agreement. If you said otherwise you were certainly in the minority.

        Oct 30, 2014 30:25 AM

        James did state differently. Said he was 95% sure IIRC.

    Oct 29, 2014 29:17 PM

    It is now nail biting time.
    I was watching the close intently.
    In the last minute the ask price of gold went from $1313 to $1212.60
    20 cents shy of my 1212.80 call.
    I’ll take it
    BUT MAKE NO MISTAKE THE NEXT 24 HOURS ARE CRUCIAL.
    WE MUST HOLD HERE

      Oct 29, 2014 29:11 PM

      It’s interesting that the low during the main hours (ending at 3pm) was just 20 cents below Rick’s 1216.40.

      Oct 29, 2014 29:25 PM

      Certainly not $1313 James!

      Oct 30, 2014 30:17 AM

      1204 at last check and still falling James. Sorry about your bottom call. It is behind you already.

        Oct 30, 2014 30:31 AM

        As is Bo Polny’s.

          Oct 30, 2014 30:00 AM

          Makes you wonder why we even invoke his name. Its not like he has any street cred like Schiff for example.

            Oct 30, 2014 30:14 AM

            Bo is a much better fisherman than most
            …..no doubt he continually reels in a good catch.

            Oct 30, 2014 30:59 AM

            Ain’t marketing and tooting your own horn an interesting thing, Bird!

    Oct 29, 2014 29:20 PM

    THIS IS EXACTLY WHAT I WAS EXPECTING AND HOPING FOR.
    A SUCCESSFUL RETEST OF 1212.80 FROM A HIGH LEVEL $1256
    This is golden if it holds!
    Brace yourself.
    We will know shortly if this bull still has a pulse!
    If it holds we’re golden!

      Oct 29, 2014 29:26 PM

      Please clarify all your numbers, James. Thank you.

      Oct 29, 2014 29:48 PM

      +1 James… could you please clarify?

    Oct 29, 2014 29:06 PM

    It looks like the miners were trying to tell us something. Staying on the sidelines was the correct strategy. Looks like the bloodbath phase has begun.

      Oct 29, 2014 29:49 PM

      Gary.. if bloodbath begins… will your call for CRB to bottom mid next year still intact or your would call it differently?

        Oct 30, 2014 30:09 AM

        Good question genesys,
        I’d also appreciate your thoughts on this Gary.
        As I’m currently alone (AFAIK) in calling for a bottom in the 2nd half of next year for gold.
        Cheers.

          Oct 30, 2014 30:21 AM

          Skeeta,

          There are many people calling for a bottom 2nd quarter of next year. I even seen it on BNN yesterday where the usual guest at the close said the same as you.

            Oct 30, 2014 30:05 PM

            I think 2nd HALF of next year glen, not 2nd quarter.
            Cheers.

    Oct 29, 2014 29:30 PM

    Let me clarify my numbers for you Al.

    I watch the Kitco spot price.
    A minute before it closed the ask price was 1313.
    It closed at 1212.6 6pm est

    As I type this the ask is now 1313

    My numbers are very accurate

    I always use the Kitco spot price

      Oct 29, 2014 29:25 PM

      I believe that you meant $1213/oz. That is assuming you are referring to the price of gold.

    Oct 29, 2014 29:46 PM

    Hui next target 168 tripple bottom

      Oct 30, 2014 30:31 AM

      Glen,

      You are a true magician lol.. Great call since know one in here has said thank you. I have more targets considering I called this yesterday and it hit my line in the sand. I will not share no more since I have no fans lol.

        Oct 30, 2014 30:19 AM

        Your comment about a lack of fans is not quite accurate, Glen!

    Oct 29, 2014 29:46 PM

    I meant triple

      Oct 30, 2014 30:19 AM

      No, you meant trippple! 🙂

    Oct 29, 2014 29:55 PM

    Yes $1213

      Oct 30, 2014 30:19 AM

      Booze does that to me too, James.

    Oct 30, 2014 30:53 AM

    1212.80 per oz
    lol
    lmfao ok dude

    Oct 30, 2014 30:32 AM

    Glen,

    Great call with the 168.. You had been calling that number for over a month or more now.

    Oct 30, 2014 30:13 AM

    birdman I watch CNBC everyday. Not one person came on saying they were going to stop on the taper. This was a complete given.
    Maybe the blogs and KWN you follow, or are aware of, had a different take, but no mainstream media outlet was calling for a stop to the taper.
    This was a complete given. I said the probability was 95% they would end QE.
    So for wisely to say he is the only one who knew this, is quite frankly absurd.