Some very important considerations on how the markets moved today
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Discussion
72 Comments
Jan 13, 2015 13:46 PM
Jan 13, 2015 13:54 PM
Jan 13, 2015 13:00 PM
Jan 13, 2015 13:06 PM
You know, after the surge we had in gold and metal miners at the start of 2014 it is possible that some banksters decided to lure in retail this New Year with a false break-out.
Big contract dump coming up?
Jan 13, 2015 13:08 PM
BUY COOL TACE CARE 8
Jan 13, 2015 13:10 PM
ATT GROUP: Toronto Time= 21.09 EST
MASSIVE SILVER DUMP IN PROGRESS [initiated @ 21.00 EST]
Jan 13, 2015 13:27 PM
FREEEEEEEEEEEEEEEEEEEE MARKETS 88888888888888888 https://www.youtube.com/watch?v=BOBTIoseYuQ
Jan 13, 2015 13:10 PM
I NEED SAME TIME IN CHINA I LOVE BY BY BY BAY BOYS !
Jan 13, 2015 13:28 PM
At least put break even stops on metal positions and protect oneself from getting ripped off by the banksters.
Jan 13, 2015 13:36 PM
GARY BUY COOL I WILL WIN YOU WILL WIN BUY REAL DON’T CARE BUY !
Jan 13, 2015 13:41 PM
DE REAL WOLD ! https://www.youtube.com/watch?v=iIYIGDmVXGg
Jan 13, 2015 13:48 PM
SELL SELL ! https://www.youtube.com/watch?v=m1aQ-XGWors
Jan 13, 2015 13:56 PM
YOU ARE TV IDIOTS STOP LOOKING TV ! YOU CAN’T YOU JUNKY’S ! GOD HELLP YOU ! https://www.youtube.com/watch?v=BzKiRt3w-5k
Jan 13, 2015 13:20 PM
Here it comes. SunCor has laid off 1000 employees and slash $1 billion CapEx.
I am looking to Canadian dollar devaluation and all Alberta oil gas companies go into survival mode. Since most companies have hedge and the pure sustainment cost is not very high, so most companies will survive as long as this low price does not last over a couple of years. But time will be tough here. Lucky that Alberta does not rely on fracking as the major way of drilling so the decline rate is not high. I feel US companies will be hurt more since there is no choice of currency devaluation and a lot of companies have high debt ratio.
However, without Alberta contribution to federal spending, it is interesting to see how the transfer payment will be obtained. Maybe federal government has to print money.
Jan 13, 2015 13:23 PM
Also since there are a lot of out of province workers in the oil sand areas. With the heavy hit concentrated on these areas, the migrant workers will have to go home.
Alberta conventional oil should be OK under this price.
Jan 13, 2015 13:40 PM
OK OK OK AND NOW ! YOU WILL OBEY ! OBEY ! https://www.youtube.com/watch?v=pA-4JBiSxPg
Jan 13, 2015 13:43 PM
5 $ OIL 10 TAX NO MORE TINKLING OK YOUR OBAYE ! https://www.youtube.com/watch?v=pA-4JBiSxPg
Jan 13, 2015 13:45 PM
Hi, what does you Xing Xiang mean?
Jan 13, 2015 13:55 PM
it means.. spam..LOL
Jan 13, 2015 13:48 PM
I think we have been hacked by Kim Jong-un.
Jan 13, 2015 13:14 PM
When the workers go home the real estate will crash as has always been the case in a province dependent on energy and instead of your revenues helping the rest of Canada you will now need help.
Albertans are short sided when the wheel turns.
Jan 13, 2015 13:22 PM
I wish the rest of Canada willing to support Alberta now.
Jan 13, 2015 13:28 PM
DT, you are right. However, most efficient way of sheding cost is laying off the field workers in the North. The house price will have to come down there since they are so high. Whether it will seriously impact the cities 400-700 KM in the south depends on the length of the oil price slump. It did not impact much in 2008 -2009 period. Just hope I don’t have to sell my house.
Jan 13, 2015 13:36 PM
Jan 13, 2015 13:47 PM
OBEY OBYE WHAT GO BOM GO BOM OK OBEY !!!!!!!!! https://www.youtube.com/watch?v=dGLgZ8htLI4
Jan 13, 2015 13:00 PM
Jan 13, 2015 13:04 PM
I NOW 100 % THE USA IS PLAYT FROM VERRY YOU NOW !
Jan 13, 2015 13:07 PM
EUROP IS MORE COMMONEST THAN RUSSIA AND CHINA!
Jan 13, 2015 13:15 PM
THE REAL SIRYA ! https://www.youtube.com/watch?v=W3h7LZ5pxGc
Jan 13, 2015 13:21 PM
BUY BUY BUY BUY GOLD ONLY GOLD !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Jan 13, 2015 13:23 PM
Jan 13, 2015 13:34 PM
a small hedge fund I follow is a good indicator today which sort of agrees with Gary….. this fund got in before new year.. and it started closing majority of PM sector position today……. they’re just some kind of short term trader.
PM has risen quite far and too fast… sowing the seed to revive manipulation or some funds to suck money out of it.
I wildly thought if market leaves gold alone.. it will be fine.. dont even mention it.. good or bad…
Jan 13, 2015 13:01 PM
Thanks for your thoughts, Gary. It’s a good idea to limit potential losses.
Jan 14, 2015 14:22 AM
MOSCOW, Jan 14 – Here are some comments by the Russian Foreign Minister Anton Siluanov at a conference in Moscow on Wednesday.
“We are ready to use the resources of the Reserve Fund, already now … to place them as (additional) liquidity on the market. I believe that if we realise part of our forex reserve fund, place it on the market, we will also make good money for the budget.”
“The rouble is undervalued. We definitely can use some of the gold and currency reserves already, at the beginning of the year, to get revenue in their rouble equivalent.”
“We think that with the (average) oil price at $50 per barrel (in 2015) … we (will) lose some 3 trillion roubles in revenues.”
Jan 14, 2015 14:50 AM
Interesting, thanks for that Bob.
Jan 14, 2015 14:07 AM
Gold is flying this morning, while everything crashes around it. Do you guys think the tide had finally turned?
Jan 14, 2015 14:11 AM
Matt,Peter,stewie,
We will be rewarded today for having hung on and believing in our work 🙂
Gap ups in the morning. Smart money was buying yesterday not holding bag!
Sidelines will kill the ability to make big profits.
Good luck today and may we have a decent move up.
Won’t be able to message today as I have a field trip with daughter.
cheers.
Long term=In
Short term=have not sold
Jan 14, 2015 14:38 AM
This action in miners looks terrible
Jan 14, 2015 14:47 AM
Miners will follow both metal and general stock market, depending on sentiment.
Jan 14, 2015 14:05 AM
It looks fine to me so I bought more of Sprott’s SGDM and a junior into today’s lows.
Jan 14, 2015 14:18 AM
Btw, I will buy more SGDM if it goes to $18.50+/-
Jan 14, 2015 14:56 AM
GO LONG…………….
Jan 14, 2015 14:48 AM
Hello there, I think a lot of you are very knowledgeable in gold. Do you know how to report the capital gains for physical gold and silver purchases and sales in Canada? Do we have to keep track of the receipts or we can get a summary of some sort? What is the tax rate? How about for purchase you don’t remember or lost receipts many years ago? I have been accumulating physical gold and silver but never sold any. Some purchased 11 years ago. I am a little worried about losing track.
Thanks in advance. What I want to know is how to do it in Canada.
Jan 14, 2015 14:53 AM
I particularly worry about small purchases like gold coins or silver bars. As I know of, the record of purchase is deleted right after purchase by the banks by law in Canada. At least this is what the bank clerk told me since he deleted the record in front of me and told me it is my responsibility to report to revenue Canada.
Jan 14, 2015 14:55 AM
good for that banker…………..
Jan 14, 2015 14:57 AM
Lawrence,
This article from 2010 is a place to start research of how CRA treats gold & commodities.
http://www.financialpost.com/related/topics/forget+rules+during+gold+rush/3418499/story.html
Jan 14, 2015 14:05 AM
Then there’s the long winded, gob·ble·dy·gook from CRA:
Jan 14, 2015 14:37 AM
Thanks. Seems I can continue report tax on physical as the ETF I have been trading.
Jan 14, 2015 14:48 AM
Irwin, do you know we have to track down the purchases by providing receipts or account statement? I could be hard since when I sell, it might be 20 years holding.
Jan 14, 2015 14:02 AM
If trying to claim a capital loss or a loss against regular income, they would likely want documentation of buy and sell.
But if you sell at a profit, they would take your word for it.
If CRA doesn’t audit you, you will never be asked for documentation. It’s just in case of an audit that all the dusty paper work has to be produced.
-not a tax expert – just my experience and opinion.
Jan 14, 2015 14:16 AM
I won’t have loss in PM purchase.
Jan 14, 2015 14:57 AM
GOLD LOOKS REAL GOOD TODAY……..shorts are running for the doors………
Jan 14, 2015 14:03 AM
lock the doors
no one moves – no one gets hurt
Jan 14, 2015 14:04 AM
ditto…………
Jan 14, 2015 14:05 AM
the worm has turned……………….
Jan 14, 2015 14:06 AM
Jerry, where have you been, at the beach wearing your Bermuda shorts.
Jan 14, 2015 14:15 AM
Hello DT………..YES……….had a great time…….I can see that everything is fine on the KER ………….j………………….
Jan 14, 2015 14:16 AM
I was down by Naples, Fl. for three weeks……, missed all you guys…
Jan 14, 2015 14:45 AM
Jerry, what is your impression of the real estate market in Florida, I’m not interested but I know a few others who seem to think everything is A-OK, even though they are leveraged to their eyeballs.
Jan 14, 2015 14:54 AM
DT, are these Canadians? I heard 90% of the buyers in Phoenix Arizona are Canadians, most probably from Alberta. What oil price will do to that market? When you need money, you may have to sell some asset, unlikely your own house since you have to live there.
Jan 14, 2015 14:03 AM
Lawrence, they are Canadians, who bought about 3 years ago.
Jan 14, 2015 14:12 AM
I know a couple here (Calgary) who bought 6 condos in FL.
Jan 14, 2015 14:25 PM
DT…..just got back and leaving again….will get back to you with my comments…j.
Jan 14, 2015 14:21 PM
DT……IMPRESSIONS OF FLORIDA…
South Florida West Coast……..real estate seems to be moving at slow pace.
Values are still not as high as 06-07 boom period. There is some new home construction, but again, not the robust activity as before and prices are steady.
The population of Florida in 1960 , was approximately 5 million, Today 20 million.
The continued growth of move ins….illegal and otherwise is constant.
There are reported over 750,000 illegals in the state, which can only grow. Based upon the current administration and the new Cuban ease.
North Florida , there are new developments started once again. This area has been slow for the last several years.
I have traced that number of foreclosures and there seems to be a constant flow of unit available in the last three years. Not a lot, but , always available.
Commercial real estate , continues to have high vacancy rates, along with several abandon sites, as observed in the Naples area.
This is just my observation from living and vacationing in the area for several decades.
j…………………………..
Jan 14, 2015 14:41 AM
Another question folks. Do you know of inverse ETF (1X not leveraged, large capital pool) for Canadian banks? I think the banks may be in trouble down the road due to loans to oil/gas. The same with US but not sure how serious.
Jan 14, 2015 14:51 AM
The only one that comes to mind is ZWB.
Jan 14, 2015 14:04 AM
Matt, this looks like a positive ETF. I would like to have an inverse one, which is to short the banks. More like FAZ in US but I hate leverage (3X) since you never know when it will happen.
Jan 14, 2015 14:08 AM
I realize that but there doesn’t seem to be another one. You could always short it, which would be more efficient anyway.
Jan 14, 2015 14:10 AM
I guess so. But too many factors in shorting.
Jan 14, 2015 14:10 AM
Thanks.
Jan 14, 2015 14:48 AM
There you go again Gary running from your own shadow. There is more to a chart than one daily reversal candle. This tells me your technical knowledge is limited.
As for Big Al, keep sticking to the sidelines and don’t get into any trouble.
Al you just recieved a new name ” Sideline Al “.
As far as Cory’s limited technical knowledge, it reminds me of a 12 year old playing with 3 cards of a 52 card deck.
Peter
Jan 14, 2015 14:52 PM
I like the nickname peter
BOB ! https://www.youtube.com/watch?v=WNb8MF2_SHk