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Here we are about 40 points higher than yesterday.

Big Al
December 1, 2014

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Discussion
151 Comments
    Dec 01, 2014 01:01 AM

    How the metals close today will probably tell us whether Nov. 7th was the bottom or whether we have to weather one more bloodbath phase over the next 5-10 days.

    Either way we have a major bottom forming right here and in the months and years ahead it won’t matter whether the bottom occurred in Nov. or Dec.

    Dec 01, 2014 01:03 AM
      Dec 01, 2014 01:17 AM

      Seemed like quite an emotional person. Why does investing in Gold tend to do that to people.

        Dec 01, 2014 01:33 AM

        Morning Simon,

        Absolutely nothing wrong with being highly emotional. Throwing dirt, in a very personal way, on a public forum is something that should not be acceptable and it certainly is not here. I say that out of complete respect for the folks who are active on this site.

        Also I would add, in markets as volatile as those comprising the junior mining sector and certainly the precious metals sectors emotions need to play a very minor role unless a person wants to become a wreck both financially and mentally.

          Dec 01, 2014 01:39 AM

          Well said Al, although I do miss Bird and JJs input minus the attitude. Just shoot me if I get that bad (;-D

            Dec 01, 2014 01:10 AM

            Bird pretty much upgraded his politeness quotient. JJ did not.

          Dec 01, 2014 01:44 AM

          Al, in gold market, being emotional is the worst characteristics. I am not an emotional person and always test deep blue in psychological testing. But I feel pretty disturbed from time to time, like last night. Just like I said, you will become ground beef soon in this market if you cannot control your fingers. It is not a normal market. Dr. Ron Paul told me don’t trade gold otherwise they will take your gold away. I am trying to trade as little as possible.

          Dec 01, 2014 01:44 AM

          Hi Al,

          Agreed. You can be highly emotional but it doesn’t pay to get emotionally attached to an asset class. Having said that gold & silver are the nicest asset to hold in your hand 🙂

          Keep up the good work.

          Cheers

          Simon

            Dec 01, 2014 01:11 AM

            Thanks Simon

          Dec 01, 2014 01:44 AM

          What happen to BIRD MAN ?

            Dec 01, 2014 01:12 AM

            No idea Franky.

            I, for one, miss his input.

          Dec 01, 2014 01:48 AM

          Hi..AL….I happen to like jj’s comments , perhaps if he was to control his acid tongue then I have a feeling more people would follow his advice & profit from it.
          I also enjoyed reading Birds comments..(clever man ) . Its understandable why so many people on here are being bitchy , these markets are all over the place.

            ditto on bitchy………………..

            Dec 01, 2014 01:13 AM

            True Mr. Irish,

            But we are all in the same boat. If we stick together and learn from each other we will definitely make it to shore!

            Dec 01, 2014 01:19 PM

            Irish,
            I too miss Bird’s shared thoughts. Hope he is in good health.
            Jody D

          Dec 01, 2014 01:02 AM

          I have no problem with JJ. I actually appreciated that he gave me the relationship between yen and gold. It connects the dots for me. I just hope he can be more objective instead making his opponent feeling bad. Nobody can learn anything in a shouting match. I think Matthew is pretty good at it.

          GH
          Dec 01, 2014 01:29 PM

          Thanks for throwing him off Al. Good to have the ‘short’ perspective, but not with all the garbage included. Birdman, I value. James the lesser pushes it, again more attitude than valuable insight.

      dead er ….than a door nail………………..

      Dec 01, 2014 01:27 PM

      Ice Cube – Today was a good day! lol
      https://www.youtube.com/watch?v=WoIgiwEVCUQ

      Dec 02, 2014 02:01 AM

      You’re funny franky!!!

    Dec 01, 2014 01:09 AM

    Gary, bullion banks have trouble to control price under 1180. It has been confirmed. Regarless how low they can push it down, it will pop up. Lease rate is severely twisted to the breaking point. GOFO as well. Indian just removed their 80:20 rule. So far, all bearish factors are priced in.

      Dec 01, 2014 01:34 AM

      indeed there was very little commentary regarding the changes in India the second largest consumer of Gold. I think the no vote in Switzerland was already priced in but not the Indian change.

      Mind you I stopped expecting a correlation between news events and price action. Monetary policy has left price discovery something of the past, case in point Italian 10 yr yield now at 1.9%.

      Dec 01, 2014 01:34 AM

      Lawrence, I am curious as to why you say that. I am not disagreeing, I am truly curious.

        Dec 01, 2014 01:51 AM

        It is what happened recently. They tried really hard in the least liquid hours, look at those vertical declines. But when the main trading hours come, gold pop up. 1180 have been a line for the last year and half. It is not by accident. There is serious buying under it or may be they cannot shake anyone out any more under that level. Who knows.

          Dec 01, 2014 01:14 AM

          Thanks for the answer, Lawrence.

            Dec 01, 2014 01:20 AM

            I can tell it is natural stop loss type of decline or smash down to certain degree. For stop loss decline, the price will gradually approach the break point and then crash. For manipulated smash down, the price may rise a little to attarct some buying and then it smashed vertically. It was exactly what happened to break 1179 the first time.

    Dec 01, 2014 01:13 AM

    Interesting Rob Kirby interview over at usawatchdog: http://usawatchdog.com/gold-selling-for-at-least-50-over-spot-in-asia-rob-kirby/

    Dec 01, 2014 01:31 AM

    As I said Friday, that strange move on GLD, GDX and GDXJ was very suspicious. I never saw so big volumes on miners shares after market. Despite the “NO”vote on Switzerland, more coutries wants theis gold back. I’ve to say guys, the botton is in.

      Dec 01, 2014 01:35 AM

      Logic tells me that you are absolutely correct, Peter.

      Having said that, I will stay wait until I see a solid trend upward.

    Dec 01, 2014 01:32 AM

    Al has been more than patient with a couple of posters on “his” Blog. Do not apologize for kicking those off who abuse the privilege of being here!

      Dec 01, 2014 01:37 AM

      Thanks Chris,

      One correction please, it is not my blog. I might have started this a number of years ago but it has evolved into all of us.

      Actually to be perfectly accurate. Sarah was the one who started this a number of years ago.

    Dec 01, 2014 01:33 AM

    Precious metals traders on the TOCOM playing ‘Pin The Tail On The Donkey.’ If I remember correctly, this was the same move made a month ago.

    Lease rates ar saying no gold available:

    http://www.kitco.com/charts/popup/au0030lr.html

    Dec 01, 2014 01:35 AM

    Al, prepare your self because we maybe sky rocketing here!!!

      Dec 01, 2014 01:38 AM

      Certainly Peter, anything can happen!

        Dec 01, 2014 01:21 PM

        Al off of true bottom there won’t be missing few points. It will be V and violent short covering rally that will not allow you to get in unless you chase it. I’ve seen them many times and Gary S has described it perfectly in his blog. There is no better rally then off of bottom rally. Or faster fall then from very top. Remember 1940 level fall in gold. That was fast and furious. Also rally in miners off of 2008 bottom. Not telling anyone to buy but don’t be asleep either. Good luck.

    Dec 01, 2014 01:35 AM

    Once again kudos to Gary for his recent calls. As to the stocks, as of now Gld has simply filled a Friday gap and the GDX & GDXJ are having inside days. As Gary sez, lets see how everything closes. Right now I am positive.

    Dec 01, 2014 01:37 AM

    BNN tagline, Black Friday sales down 11% in the US. Calgary was frigid and snowing heavily and roads were terrible all weekend.

    Berman’s Call on BNN this morning. Calling for an important bottom for the price of oil forming.

      Dec 01, 2014 01:40 AM

      We will be doing an additional editorial on oil in a couple of hours, Dan.

      Weather down here was pretty frigid also! Calgary can get really frigid. I remember a number of years ago I was running along the Bow River and got about 1/2 hour outside of town when a storm blew in. Pretty scary for this guy!

        Dec 01, 2014 01:44 AM

        I worked Friday night in – 35 C wind chill. Sweating and freezing at the same time but money in the pocket. Thanks Sarah and Al and all for this site.

          Dec 01, 2014 01:55 AM

          Is that why your so cautious Al ?? You froze ’em off in The Great White North? ; )

    The blood bath was………..last nite…………..timing is everything……….

      Dec 01, 2014 01:40 AM

      I have to agree Jerry!

    Dec 01, 2014 01:40 AM

    Oil is extremly OVERSOLD, even in the weekly chart, the game is over.

    Dec 01, 2014 01:43 AM

    Fascinating day folks. Really appreciate Gary’s thoughts on all this. What a surprise though for me personally as I was expecting a big plunge today.

      Dec 01, 2014 01:59 AM

      Bob UK
      Go back and look at my posts on friday no surprise here.

      Peter

        Dec 01, 2014 01:03 AM

        Nice humility post there Peter 😉

        LPG
        Dec 01, 2014 01:31 PM

        Kudos Peter.
        LPG

    Dec 01, 2014 01:48 AM

    Stewie so far has nailed it! woot woot
    My first call was murk on thanksgiving weekend. My second call was one day event when murk happens. So far both calls are in the money. Let’s hope it continues.

      Dec 01, 2014 01:09 AM

      Some of the calls I bought on Friday are already up more than 100%. On the other side of things, my WSM puts are already up nearly 100%.

        Dec 01, 2014 01:43 AM

        Don’t know about the GDX or GDXJ calls Matthew because I didn’t take any 🙁

        However….
        I sure made bank on AMZN 332.50 weekly puts and GOOGL 542.50 weekly puts this morning. Both made over 200%. Missed my BIDU short entry because I was expecting a push higher after the open…never happened 🙁
        Oh well. Can’t get them all.

          Dec 01, 2014 01:10 AM

          Good job, you can’t complain about 200%!

          Dec 01, 2014 01:42 AM

          Marh…Hello…Nice to see you found your tongue…..haha

            Dec 01, 2014 01:27 PM

            Oh it’s not Mark Alan who is writing, Irish. It’s his doppleganger. :-O

    Dec 01, 2014 01:49 AM

    gold is just too crazy!!!

    Dec 01, 2014 01:59 AM

    That is true robert – I have no idea what to expect between now and Christmas now!

      Dec 01, 2014 01:04 AM

      Carol singers?

    Dec 01, 2014 01:33 AM

    Good analysis Gary.
    In my experience when markets make a top or bottom near the end of one year and beginning of another, there is significant follow through in the new year. 2015 could be shaping up to be a fun year for gold, silver and mining shares.

      Dec 01, 2014 01:02 PM

      I hope you are right Kent. This is a good start for December but let’s watch what happens the rest of this week.

    Dec 01, 2014 01:36 AM

    Happy bday to us Al 🙂 your 71 is my 36.

      Dec 01, 2014 01:03 PM

      Happy Birthday to you too Canuck!

    Dec 01, 2014 01:43 AM

    Could you imagine if the Swiss gold referandum had passed?
    I would speculate gold could be up $200 today.

    I called 1212.80 as the bottom. We are now back to 5 bucks from that level.

    My river card was played!

    I’ve been saying since that Friday when gold staged that $35 rally

    Sardines, Seals and Sharks.

    A textbook example of ever there was one

    Get off the sidelines CORY, the waters fine

      Dec 01, 2014 01:06 PM

      You may be right James but I would like to see sentiment pick up. Today was a good day but 1 days does not make a trend that I am looking for.

      bj
      Dec 01, 2014 01:58 PM

      The fact that referendum happened may be more import than the outcome.

      Passed: Swiss banks would’ve become buyers and pressured the bullion market up. But never as much as the Communist China or India–it’s a matter of volume.

      Failed: The Swiss people know for sure that their currency is going to be tied to the Euro–which is being debauched. Thus, the Swiss people et al will buy the gold instead of Swiss banks. But again, the Swiss will pressure prices up, but not so much as the Chinese and Indians.

    Dec 01, 2014 01:49 AM

    thanks Al and to everyone who contributes to this site – I find it invaluable and I agree a bit of debate is interesting but when the tone gets too nasty it is not so constructive. Thanks

    Dec 01, 2014 01:54 AM

    This is the biggest reversal I’ve seen for a while in Gold and Silver – hope it follows through…

    Dec 01, 2014 01:56 AM

    I don’t like to see anyone be barred from the site, but he was very obnoxious,

    He was a raging bull a few years ago when I didn’t like golds action.

    he fought me then. Then was disappears for a couple of years and reinvents himself as a bear. I’m not buying it.

    I’m happy to see him go

    I know some people would like to see me go too.

    Al, I am always sincere but I do admit I try to spice it up a bit once in a while to keep it lively for you, it’s the PT Barnum in me

    Dec 01, 2014 01:57 AM

    Simply supply and demand. Good old fundamentals. Stretched too far.

    Dec 01, 2014 01:58 AM

    Gary Savage is the fellow to listen to.

    Dec 01, 2014 01:10 AM

    You all know I’ve said but will repeat it again…

    After being in this gold market for 15 years one thing I’ve learned is gold so often does the EXACT OPPOSITE of what you think it’s going to do!

      LPG
      Dec 01, 2014 01:26 PM

      James,
      IMHO, that’s the sign of a market “controlled” by BIG money…
      LPG

    Dec 01, 2014 01:12 AM

    What a move.

    Simply beautiful!

    The river card went down and the shorts got squeezed!

    All going according to Hoyle though!

      Dec 01, 2014 01:18 AM

      James, the action ended up like I thought —just like my lucky 360 down the highway, all stress, no pain!

        LPG
        Dec 01, 2014 01:42 PM

        Nice comparison Matthew.
        I like that: “all stress, no pain”.
        LPG

    Dec 01, 2014 01:16 AM

    testing

    Dec 01, 2014 01:25 AM

    Matthew right on!

    Dec 01, 2014 01:25 AM

    Hey all,
    Miners, while performing today, still looking weak compared to the move in gold. Is it a sign that this thing could just drop back down again?

      Dec 01, 2014 01:33 AM

      JNUG up 26%
      NUGT up 21%
      ANV up 23%

      That looks weak? What looks strong?

        Dec 01, 2014 01:41 AM

        I hear you Duke. I’m looking at where GDX (20+) was when gold was trading at 1200 recently (was trading above 20), and where it is now(under 20 with gold having moved to 1220. I would think that GDX should have easily rocketed about 20 with this move.

        Just not as strong as I like to see relative to the move in gold is what I am saying.

          Dec 01, 2014 01:46 AM

          Doc Fan

          Im seeing the same as you and hui is yet to confirm breakout above 50 dma..Wti looks like a very weak weak rally.

            Dec 01, 2014 01:48 AM

            Hi Glen,

            You going to hold here or planning on bailing?

            Dec 01, 2014 01:54 AM

            Long term=still in from long ago.. I continue to add as hui keeps dropping towards my longer targets.

            Short term=On sidelines since friday. Have decided to wait it out for further conformation. I like to see back to back positive days and want to see how wti oil reacts tomorrow.

            From my perspective gold rallied substantially and like you the move in the miners have only rallied towards the 50 dma trendline. This is not a final bear market today, Mark these words and this prediction. There is no way we head to the moon with those major gaps left behind across the board.

          Dec 01, 2014 01:49 AM

          What you noticed is typically a bearish sign, but I wonder if it is due to investor disbelief. I’m trimming the GDXJ calls that I bought on Friday just in case. I do think the rest of the gap above will get filled either way.
          We’ve most likely seen the lows, but that doesn’t mean we can’t have another sharp decline.

            Dec 01, 2014 01:56 AM

            Well said matt,

            Im a tad bit nervous here. That’s an understatement. I will much rather stay on the side for now. Not a pro at trading like yourself. I would just hope we can at least go down one more time soon as I really want to load up on much lower prices. Maybe its greed :)..

            Dec 01, 2014 01:10 AM

            Thanks Glen and Matt!!

            Dec 01, 2014 01:15 PM

            Good comment Matthew. That echos a lot of my feelings.

          LPG
          Dec 01, 2014 01:44 PM

          +1 Doc Fan

        Dec 01, 2014 01:46 AM

        What do I know – I was expecting ANV down by 23% today.

    Dec 01, 2014 01:31 AM

    If we can’t count on a competent technician like Gary Savage who said there would be a capitulation today, how can average investors cope in this insanity we call rigged markets? We r up $50.60 right now at 1:30 pm. WT ?@&!!

      Dec 01, 2014 01:45 AM

      Might wake up tomorrow morning Confused and discover that someone has dumped 3000 contracts.

        LPG
        Dec 01, 2014 01:50 PM

        +1 Bob.

      LPG
      Dec 01, 2014 01:49 PM

      Confused,
      I personally like to consider mkets under the analogy of the ruberband effect….
      The more it stretches in one direction, the quicker the snap back.
      GL investing,
      LPG

    Dec 01, 2014 01:36 AM

    Will be interesting now since Al and Cory are on the sidelines with gold at $1,220. The question becomes do they stay on the sidelines?

    Dec 01, 2014 01:46 AM

    1180 was broken on a weekly basis. That is not good. I would not make any panic moves as of yet.

      Dec 01, 2014 01:55 AM

      True, this could be just a gap-filling backtest, but I trust the bearish weekly close even less. Big boys needed supply more than they needed a lower price; the way you get that supply is through very convincing chart-painting. Bulls get scared and sell while bears get bold and sell short —both are very good food for a young and wobbly baby bull.

    Dec 01, 2014 01:51 AM

    Daily charts for miners and pms still look horrible. Looking like a gap fill day today and nothing more. Unless, unless Friday’s closing low is held. If that low can hold and move them all up then we have a little rally with some legs. The catalyst? Maybe oil bottomed? Maybe stock investors are seeing less value in equities and more in commodities? It will all be interesting.

    Dec 01, 2014 01:05 AM

    After reading Ari’s commentary of a fifth wave down on Tuesday and thought this guy has been calling everything correctly, but so has Gary.

    Hindsight being twenty twenty looks like we had the leg down during the USA holiday season. Funny is that silver is almost back to what it was on Tuesday. It looks like they might have both been right.

    Yet I can’t help but think there was some serious manipulation going on this weekend Retail investors couldn’t easily trade during the weekend. For the bullion bankers and big institutions that is a different story

    On the come back up the Gold Silver ratio is still high to call a trending towards bull market. That ratio has been important indicator for me to seeing which the wind is blowing.

    Dec 01, 2014 01:34 AM

    Well, I am confused.

    I have been preparing myself to buy as we go into the bloodbath phase and even fancied having a poke at ANV as it fell back below a buck. Instead, ANV is up big time along with everything else.

    Now, watching it go up, I am really confused as to what is happening here. Logically, the metals should have gone down today after the Swiss NO vote but, hey, what do I know.

    Now my fear is that this might be the pump of a pump and dump?

    LGC
    Dec 01, 2014 01:17 PM

    I can define what is so emotional with gold. You buy into the fact that all the circumstances happening around the world are very negative or very positive for gold. Since 2008 it is clear that excessive spending and excessive printing does not lead to a secure economy. We have all had to live with market manipulation and market manipulation getting very extreme. As markets go gold is very small compared to stocks, bonds and currencies. This adds to the frustration level we have gone thru for the past 3 1/2 yrs. This raises the intensity level to extremes and with that emotions.

    Dec 01, 2014 01:46 PM

    AL HAPPY BIRTHDAY !!!!

    In regard to your comment of missing few points to the upside i would say this:
    JNUG is 100% up since 1137 gold reversal. I wouldn’t call that insignificant if you had $100,000 in there. Just saying. 🙂

      Dec 01, 2014 01:00 PM

      How much did you have in it Stewie?

        Dec 01, 2014 01:13 PM

        Bob I own sizable position in JNUG. At $2000 gold i will be millionaire with this position. I have doubled up past friday. If gold drops to $1050 i will buy 1/3 more and triple up. I do not believe we will hit $1000 as it’s round number and everyone will have that number at sight but $1050 may happen. Based on volume in miners and snap back from 1137 we should have a bottom at that number.

      Dec 01, 2014 01:44 PM

      Bob… at that point of $1137… I’d probably save my money and wait for 1050… so if you ask me…. I put $0.. and 100% of ZERO is ZERO… 🙂

        Dec 01, 2014 01:20 PM

        You could have doubled that 😉

    Dec 01, 2014 01:12 PM

    Wow, that is amazing action today in gold, now $1212. Silver 14.78 to 16.56 low to high, that’s $1.88. I would wonder if that is the biggest percentage upday in silver ever? It’s about 12%, though the daily move inthe COMEX hous is not so big but who cares?
    I was thinking things were still in the doldrums. They tried to get gold back under $1180 last Friday and succeeded . It did look s bit depressing on Friday but was only about a 50% retracement of the previous rally move from $1130 ish to $1200ish.
    I had a pretty dire bearish post to put on the blog over the weekend but I guess I had better bin it now!

    Dec 01, 2014 01:17 PM

    Gold closes at 1212.90 and takes back my 1212.80 bottom call.
    Absolutely gorgeous

    Dec 01, 2014 01:20 PM

    We need a follow through move now and then 1 more retest of 1212.80 and then it’s onto my key target of $1340

    Yes $1340 is back in play

      Dec 01, 2014 01:29 PM

      James,
      Certainly hope you are correct regarding the $1340 target!!!
      Jody D

    Dec 01, 2014 01:21 PM

    It is almost as if someone(s) – someone(s) with a load of cash – simply decided to jump into the gold and silver market in a big way… as if they had decided that there was no money to be made in oil now for let’s just get into PMs? Or perhaps even thinking that it is time to get out of the conventional markets and into PMs? Or a bit of both.

    It totally defies logic what has happened today and hence whilst I am wary. This could be a great plan to lure people in this week and then BHAM! Pump and dump.

    Just because I am paranoid doesn’t mean that they ain’t out to get me 🙂

      Dec 01, 2014 01:32 PM

      I lilke the proverb. My old chemistry teacher at school in the 1980s used to have that on a dsticker on the rear window of his car! Mr. Derek Slater, ‘JDS’ also affectionately known as ‘Slasher’, I never knew why.

    Dec 01, 2014 01:28 PM

    VERY WELL DONE GARY! You absolutely got it so correct and read this market spot on. Swiss referenxum fails and gold and silver rocket. I thinkt hat’s exactly what he said could happen if I recall correctly. Sell the rumour, buy the fact is in operation.

    Dec 01, 2014 01:30 PM

    What I was going to post last night before this rally:

    “Someof the gold permabull promoter type peple are all full of hot air. Oh yeah they are so clever and they will alwsys tell you when they have been right.

    Rememeber that Eric Sprott had $2000 target for gold by the end of 2014. It looks like it might be $1000 instead. Still a bear market, I’m afraid and no sign of changing into a bull market. [well maybe there is a sign of that changing today?]

    Sure Gary, yeah, it will still rally big once the bottom is in because the bottom will probably be a low one. Also aogood rally of these lows does not mean that the bear market is over. There were big rallies in gold stocks in 1982-83 and 1986-87. They were just bear marker rallies but a great long trade at the time but they were not long term investments, just trades, because lower lows followed in gold metal and the mining stocks.

    This Swiss referendum on gold of course will never pass. Forget it. It will not be allowed to pass, come on, get real. It is merely a diversion and another blade of grass for the desperate goldbugs to cling on to as they fall down the cliff. Maybe it has a parallel with Reagan’s Gold Standard Commission in the early 1980s (just around the time he was shot in an assassination attempt) which did not stop the bear market and did not get translated into law.”

    Dec 01, 2014 01:46 PM

    MARKET ALERT!!!
    Massive volume shares registered on GDX and GDXJ:
    25.534778 GDX shares / $19,77/ 16:04pm (after market)
    1.250.000 GDXJ shares/ $27,71/ 17:24 pm (after market)

      Dec 01, 2014 01:18 PM

      choo choo…what’s that stewie?? Sounds to me mate like train is leaving the station.
      All aboard? lol…. i’m in a good mood. Had to do it!

    LPG
    Dec 01, 2014 01:02 PM

    A thought just crossed my mind:

    If some of the people who got gold and silver at/near the low today ask for delivery, we could have a “funky” December.
    I understand there’s always that risk/chance… but I would suspect that the lower the price of gold/silver, the higher the incentive to have it delivered ?

    Best,

    LPG

    Ray
    Dec 01, 2014 01:18 PM

    Peter: You’re correct as shown on the GDX quote on nasdaq.com, someone or something bought over half a billion dollars worth of GDX about 4 minutes after the close !

      Dec 01, 2014 01:09 PM

      That´s a good piece of iformation. And very dificult, because in the next day it´s ipossible to it again…

    Dec 01, 2014 01:22 PM

    Silver bug, I hope you have some silver. The price is under production cost and silver is going to increase in demand dramatically. If you see the smog in China you will know how important silver is. Price has to go up within a year or two. You cannot put the price under production cost for such an important metal. Each piece of solar panel has 10 cents worth of silver. If the silver price goes up 5 to 10 times, there is no incentive to replace silver to degrade the quality.

    Dec 01, 2014 01:31 PM

    While I would have preferred to see the miners rally harder, gold has confirmed a right translated daily cycle and this should be confirmation that Nov. was the intermediate and yearly cycle low.

      Dec 01, 2014 01:48 PM

      Guys have you noticed from bottom to top in gold we had $80 move in gold today.
      Low 1141 Top 1221.

      Dec 02, 2014 02:46 AM

      So if the DX breaks out, which it looks like it will, you don’t think that will usher in the bloodbath phase???

    Dec 01, 2014 01:28 PM

    On Friday, jj was using the action in $GNX to justify his bearish view on gold. He didn’t like it when I showed him the following chart and told him that $GNX would continue to fall versus gold. Well it has continued its fall and is now sporting a “death cross” on the weekly chart. The REAL price of gold is rising and that is very good for the miners.
    http://stockcharts.com/h-sc/ui?s=$GNX:GLD&p=W&yr=2&mn=3&dy=0&id=p05429440161&a=378282313&listNum=1

    Dec 01, 2014 01:29 PM

    On original jj…you can’t get personal on these forums. Yes, the manipulation hurts, but we can’t find Jamie Diamond to punch him in the nose, and we can’t just let our aggression out on the forums. You have to stay professional and a little detached from all the money you have lost in the commodities market since the government(s) took control in the summer of 2011 and started showing the world who’s boss.

    On the Sunday Swiss vote and the dip on Sunday the 30th and Monday the 1st: wow. Just wow. Here I thought it was going to be more moping around, but the people on the spot charts are showing remarkable strength into the manipulated selling shocks. No 3-day recover time here! Let’s show we can prevent silver from going below $16 again and gold below $1,200. (Of course, as soon as I type that, guess what Kitco will show.)

    But this is governmental power. It’s a Mexican pistol standoff, with live ammo already firing, but they’ve got to run out of bullets sometime, and then we see Truth for what it will be. I think the US marketplace will be the LAST to post any gold price over $2,000, and silver over $50 – it will be a defeat The Powers That Be will never admit on camera.

    Dec 01, 2014 01:56 PM

    Differing views are always welcome IMO, as long as folks remain respectful of others opinions. December is historically a good month for gold, soooo…bottoms up! (Original Mike here.)

    Dec 01, 2014 01:35 PM

    Big Al, Cory, Doc
    What does sitting on the sidelines MEAN? Doc says he is buying and has been buying. Can one of you three please address this with an answer!

    Thank you
    Peter

    Dec 02, 2014 02:38 AM

    Peter why are you so concerned about what Al, Doc and Cory are doing?

    Who cares quite frankly.

    They all have their own goals, timeframe, risk tolerance…

    Do your own homework and make up your own mind!

    Dec 02, 2014 02:59 AM

    Peter you need to determine what kind of investor you are, what your objectives are, what your risk tolerance is.

    I have a very high risk tolerance, that might be right for me, but not for others.
    I also have a long term time frame. Again that might be where I’m at, but not others.

    Regarding gold: it also depends on how much exposure you have already.

    If you have no gold, I would say get some. Decide on what % of your portfolio you want in gold (and silver)

    Then decide what you want it for, diversification, hedge, speculative…

    I think it is a good time to buy, I beleive the downside is neglible and most of the pain is behind us.

    Does that mean we are going to the moon? No. I’m not going to blow smokecup your but.
    We could languish for quite a while here.
    The market has been so damaged and so beat up it could take years to recover.

    No people will misconstrue what I am saying.

    I’m in, I’m all in, and I stayed in, and am staying in.
    Nevertheless gold is no longer a no brainer as some would have you to believe.

    I can’t stress enough how important it is to do your own thing.
    Forget about what other people are doing, including me.

    It’s your money and no one cares about it as much as you do!

    Dec 02, 2014 02:31 AM

    Well James, then Big Al is not speaking for Doc when he states, Cory, Doc and Big Al are sitting on the sideline. This is very misleading. He keeps repeating this and Doc clearly states differently, don’t these people listen to each other.

    Peter

    Dec 02, 2014 02:21 AM

    Peter I cant speak for Al and Cory exactly but I think what they mean is they are not ready to put new money to work in this asset class, gold, gold miners, until they see more clear signals that the bear market is over. Until a clear and definitive trend is established they would rather watch and wait. Nothing wrong with that for them.

    As far as Doc is concerned, from what I gather, he nibbles when he feels the time and price is right.

    Also keep in mind there could be varying degrees of sitting on the sidelines.

    Just because you invest a little you might still have the bulk of your money on the sidelines.
    It doesn’t have to be all of nothing.

    The more important question is not whether Al, Cory, and Doc are talking to each other and if they are on the sidelines or not, but why are you concerning yourself with it?

    Do your own homework and de die what works for you.

    I could care less what Al, Cory, and Doc are doing. And that is not to disparage them, it is just not my approach. They could be the greatest traders/investors in the world, I have been trained to do my own thing.

    That is the advice I would give you.

    Good hunting!