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Monday’s Final Market Commentary

Big Al
November 24, 2014
Comments (55)

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55 Comments
    franky
    Nov 24, 2014 24:55 PM

    AL ! What Roger Wiegand tink off Claude res ?

    Lawrence
    Nov 24, 2014 24:45 PM

    People should read this on zerohedge, Deutschbank suggest government to buy up unwanted and unused gold from private hands. This sounds weird considering they have trouble to get any gold back from fed. Are they trying to rip people off their gold. Buying may mean different things when it involves government. FDR bought from people as well. Probably not too distant future, these bankers will pay for what they have done to their countries.
    http://www.zerohedge.com/news/2014-11-24/deutsche-banks-modest-proposal-central-banks-purchase-gold-held-private-households

    franky
    Nov 24, 2014 24:49 PM

    ARE YOU REAL LOOKING TV JUNKIE FERGUSON BOLL REALY ! GOD SAY LOOKING US ! https://www.youtube.com/watch?v=qK-8tR8FKog

    J........THE LONG....................OOTB
    Nov 24, 2014 24:48 PM

    Turk at KWN………SAYS… Institutions are wanting to take delivery of gold, and will want to show that they actually have PHYSICAL AND NOT PAPER.
    if, gold is in short suppy,,,then prices are going to rise……………

      J........THE LONG....................OOTB
      Nov 24, 2014 24:49 PM

      supply…….suppy just had dinner….

      RICHARD
      Nov 24, 2014 24:40 PM

      The long; some would say I’m not properly bullish but I feel the down side is quite limited at this time. However, for most PM stocks, the technicals are still not bullish. That could change in a nano-second. We’re potentially setting up for a double bottom for gold and some of the major companies. December will be an interesting month.

    Fran Six
    Nov 24, 2014 24:13 PM

    One thing to keep appraised of might be the US Three-Month treasury bill rate. Apparently though there is no futures market for this particular bill, there is a secondary market. When treasuries flood the system, the Dow and the S&P make new highs, and short term rates make a brief surge. This one particular aspect of treasury bills, that there are no futures contracts for treasury bills may have led to the extended rally. As for Gold, should markets no longer levitate on influxes of treasury bills, and rates go nominal negative, this would be the outside catalyst.

    http://scharts.co/1cFDeTH

    Paul L
    Nov 24, 2014 24:09 PM

    Gold looks like it will drift down very very slowly over many days and GDX towards 18.

      RICHARD
      Nov 25, 2014 25:14 AM

      Paul; good observation. i believe you’ll be correct.

    glenfidish
    Nov 25, 2014 25:51 AM

    Doc,

    You really have to start looking at the contrarian indicators. You keep saying we are headed lower and investors are going to lose out on these slow and upward percentage movements. I rarely disagree with you but the trade currently is to stay in. We are as gary says in an ICL. Stay in and wait. This is going to take us up for few weeks.

    I took a day off to refresh my head. Don’t let guys like chartster get you out of your positions. You should be adding here left right and center. We have a move coming and I believe it’s today.

    glenfidish
    Nov 25, 2014 25:53 AM

    Matt,

    How is trading going? I think this week is going to be the fireworks. Look for them stocks to run through 50 DMA just below 200 DMA.

    cheers

    the messenger

    J........THE LONG....................OOTB
    Nov 25, 2014 25:58 AM

    ONE MONTH GOLD LEASE RATE……moving higher……………Dec. gold going higher.

    glenfidish
    Nov 25, 2014 25:59 AM

    Bullish flag formation on hui..Roger we are going to have blast off very shortly. Let’s see how it shapes out.

    J........THE LONG....................OOTB
    Nov 25, 2014 25:07 AM

    ALL THE gold in Fergason is gone…………..Fed hard at work……..pawn shop owners hired x military …….really………………wonder if it will show up somewhere else…..just saying………………………….ootb……………………

    glenfidish
    Nov 25, 2014 25:09 AM

    There you have it guys! I don’t want to say I told ya but I told ya 🙂

    Everyone was way to bullish on dollar and now headed south.

    Few days ago everyone had the Euro going to par lmao with us dollar. Contrarian always wins. Euro headed higher because watermelon head Draghi keeps promising but not delivering. He will deliver not yet.

    glenfidish
    Nov 25, 2014 25:12 AM

    This thing is in a major coil its going to explode one way or another.

    glenfidish
    Nov 25, 2014 25:17 AM

    Matt,

    If it crosses over its going to be a major move for all miners including gdxj.

    Lawrence
    Nov 25, 2014 25:36 AM

    silver is stronger than gold. The rolling over of december contract is coming, the price usually dips a little to discourage delivery. This time looks different.

      J........THE LONG....................OOTB
      Nov 25, 2014 25:46 AM

      We need to keep gold strong………….for silver to go up , where it should be…..like above $22………..

        J........THE LONG....................OOTB
        Nov 25, 2014 25:49 AM

        Once this ship gets turned,,,,,,,,ratio is going back to 45 to 1

          Lawrence
          Nov 25, 2014 25:05 AM

          If both are pure money the ratio should be 9:1.Historically it was 16:1 since there were 15-16 times more silver produced. Now silver is mostly industrial metal and gold is reserves and jewellery. The ratio can be anything. Silver has been under average production cost for most of the time since 1990s except a few years. Most supply were provided as by-products so cost is not a issue and above ground silver has been draining to below the level of gold. Now base metal is shrinking as well. If silver usage goes up and precious metal becomes safe haven again, we will never know how low the ratio can go. I will always keep some silver with me.

            J........THE LONG....................OOTB
            Nov 25, 2014 25:17 AM

            I agree………….I used 45 to 1…..SO , everyone would not get excited,,,,but, I think IF, this thing gets rolling , you will see 16 to 1 easy…………….jmho.

            Matthew
            Nov 25, 2014 25:23 AM

            Based on silver’s trading, I would say that it is still mostly a monetary metal. It’s just a tiny market that is easy to push around.

            Lawrence
            Nov 25, 2014 25:52 AM

            Agreed Matthew. Due to the fact it has been monetary metal, there were huge amount above ground inventory. This inventory is used against the silver since governments dumped ALL of their holding over 10 billion ounces into the market to suppress the silver price, as Lyndon Johnson promised. Imagine governments dump all gold to the market now. It could suppress the gold under 100 and kill virtually all gold mines. It is what happened to silver. Fortunately they don’t dare to. They need some confidence on their currency. Now this above ground silver are mostly gone and silver has been de-monetized almost completely, at least officially, silver comeback could be revengeful once monetary system runs into trouble. I think god will punish us for our sin. In the last century, government acts like god.

        Lawrence
        Nov 25, 2014 25:55 AM

        Silver is strongly impacted by gold. There is a trading algorithm going on. Traders have been trained to sell silver when gold goes down. One day, I hope silver has a life of its own. This can only happen if India or China use a lot of silver and result in shortage. It is going to happen while silver stock pile burns out and solar becomes the dominant energy