Some more info on what the bankruptcy phase will look like
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Glenda you want to borrow my balls so you can handle a short position to back up your lower prices ahead call, no charge!!
computer animated you can take your short balls and keep them lol..
cheers
glen
Glenda I’m not a smart guy far from it I’m a complete idiot! I don’t care if the anti-Christ is reading his am toilet bowl for market direction as long as it makes my trades profitable I could careless, I will follow his advice and not my ego
Cory, Thanks for asking Gary if the current pattern changed the outlook for the lows next year. It really does seem that the commodity complex could be putting in it’s low from Oil to PMs to base metals right now. If so, after the volatility subsides, we could come out of this (probably early January) into the start of a new bull market.
My pleasure Shad. It does sound like his outlook for mid summer next year could be changing a little bit.
It will be interesting to watch things play out.
Looks like you got out at the perfect time Glen! The turn down in the afternoon sure is not promising…
Gary if the US jobs report is a big win than the $ will continue its rise, BOJ and ECB have put in motion their currencies to devalue further, a technical pause will happen they always do, but the trend is in motion for a stronger $ on the back of what exactly the BOJ and EBC want, devalued currencies
Gold has had nothing but bear market rallies for 3 years, sell into every rally and get short until that changes its the trend to trade.
As Rick A stated a close above $1300 is the first REAL sign of shorts no longer covering but getting long that’s what gold needs till then, trade it!
Gary,
Your getting close and so are the targets.. gold/silver ratio spiking now which is what i was expecting. 74/75 now.. Looking for at least 78.. Regardless we are close to a possible turn as you say.
I personally would like 119 on euro don’t know if it has legs to get there
Paper games being exposed?
Lawsuit: Chicago Futures Market Creates “Guaranteed Winners and Guaranteed Losers”
Remember the Senate hearing on June 18 when Senator Elizabeth Warren talked about the high frequency trading firm, Virtu, reporting in its IPO prospectus that it had been trading for 1,238 days and made money on 1,237 of those days. Last week three futures traders told a Federal court in Chicago that it’s not just the high frequency trading firms that are reaping a windfall but the exchanges who are engaged in a conspiracy with them to create “guaranteed winners and guaranteed losers.” http://wallstreetonparade.com/2014/11/lawsuit-chicago-futures-market-creates-guaranteed-winners-and-guaranteed-losers/
markedtofuture:
Many thanks for alerting me to the Wall Street on Parade site and the interesting article you referenced as well as the many other interesting articles on the site..
Interesting comment and article Marked. Thanks for posting.
There is no doubt that these HFT are making money hand over fist. How couldn’t you when you are pretty much front running every trade. I’m sure the exchanges love it too because they are seeing volumes they probably only dreamed of.
I added more Transocean on the dip. Added small amount in Cyberark on the dip too.
First off who are you kidding NO ONE CAN PREDICT WHAT IS GOING TO HAPPEN NEXT SUMMER
STOP MAKING GUESSES AND LET THE THING PLAY OUT THE WAY IT IS GOING TO PLAY OUT
first it’s next summer, then it may be now
YOU HAVE NO IDEA
Ppl ow
Now you are spouting the bankruptcy theory
Stop with your theories that are just based on opinions
well james when it comes to having no idea you wrote the book, lol, sorry you set yourself up for that dunk…have a good day
Every pundit in the world only has theories, but it is how they explain the logic on their theory that makes them valuable. So far Gary has been very accurate about the conventional markets, was the only contributor on here a few weeks back that said we were not in a new bear market for the DOW or S&P, explained why, and then the markets have done exactly what he said.
Gary has also been very clear about breaking down the time ranges for the daily, mid, and longer term cycles, and what weeks a turn in the market could occur.
What value does bashing someone bring to anyone on here. If you don’t like what he has to say then don’t listen. It’s pretty simple.
Very well said Shad!
As a guy who has been around hte mining insutry for a very very long time and who used to trade on the VSE I can say that the bankruptcy phase you speak of started 1 year ago Gary. We a rein the delisting phase…
Most juniors are long buried and are just shells filing quarterly reports to stay listed. They have no money. 90% of TSE listed stocks can’t even pay their accountants to fle quarterly reports so they get delisted for that..
Your reference to the bankruptcy is a very good call though. It’s just misnamed….
Juniors at 1 penny are not bargains, they are death traps as they delist by the hundreds quarter and next
Again, its more like a delisting phase than a bankruptcy phase..
Ken wait for the spin….XYZ is a take over target because its so cheap, that always brings in a little pop just before a delisting death!….great point
You are right Ken, a lot of companies are simply trying to stay listed. The exchange should step in and do something about these companies like take them off sooner rather than later… but the more companies that are listed equals more money for the exchange.
Everyone takes about M&A picking up. When in fact these companies will have to combine to simply keep one company running.
TSX I mean
What are we saying about Friday’s job report folks? A good jobs report does what for gold? Bottoms it?
This is what the street is looking for Bob, if its a really decent report the $ will pop as it will bring into question a shorter time frame of US rate hikes and that will certainly boost the $ as Euro and Japan are devaluing their currency, complete opposite of the US so that will not put a bottom in gold $1137 will fall….if its a weak report look for the opposite reaction as the $ heads down and gold tries to close above $1150
http://www.businessinsider.com/october-nonfarm-payrolls-report-preview-2014-11
Thanks jj – so the dollar reacts to the jobs report and thus PMs soar or crash as a result.
Sounds like a coin toss.
Perhaps that big dump of gold contracts yesterday was someone in the know about good jobs numbers.
Well I’m not looking for a crash reaction Bob just confirmation that the trend in a higher us$ is the trade off a really positive jobs report, I’d say after the recent beating a weak jobs report will create a good bounce and maybe a new trend before tax loss selling
When is tax loss selling in the US? Is there a certain date – i.e. between Dec 1st and Dec 31st – that you have to sell the stocks?
Or can you do it at any time during the financial year as long as it is by December 31st?
In Canada you can technically sell for a lose at anytime of the year to offset whatever capital gains you have either that year (there are carry back an carry forward provisions as well). Most people just reassess their portfolios around the middle of this month and decide to get rid of those losers.
In Canada the last day you can sell and record a tax lose in the current year is Dec. 24th. In the US this date is Dec. 26th.
I hope this answers your question Bob.
I am wondering if someone in the know about good job numbers might do another big dump of gold contracts overnight.
If we do get such a dump I would imagine it is indicative of good numbers coming in the jobs report – or perhaps they did their dump already this week?
Not sure Bob. That falls in the speculation camp for me.
Gary… is gold bottoming next week, say Friday, possible from your cycle or it’s too stretch already at the moment?
$1131, gold getting raped again.
Mr. Putin decided to send some of his tanks out for some varenyky.
Sold my positions 1 hour ago in the miners for a great return!
The positions I bought yesterday at the close.
I see more lower prices ahead.