Wednesday and The Doctor Is In
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Dan; yes it will.
HERE IS A GOOD ONE…………….In Indiana the GOV.MIKE PENCE, wants the STATE GOVT to have their OWN TV STATION…….todays news. I guess so they can tell some more BS stories…….and
Does that mean the GOVT. in association with other govt agencies is going a little to far.
After Cellenti’s comment on the MAYOR of NY CITY …BAN all driving on the streets, even for food vendors, what does that say about the control of the sheeple.
Apple has temporarily stopped the fall.
And eyes turn towards Facebook to rise the markets after hours and tomorrow.
Look now at the price of JNUG and NUGT. That’s called murki’em since you wanted a definition of it. lolzzzz
Yesterday I said the following about GDXJ: “This would be a good spot (29.35ish) to buy protective puts if you’re worried about the Fed tomorrow.”
It has now dropped $1.94 from that level. Those who haven’t dumped the puts by now probably should. Just my opinion.
APPLE IS STEALING EVERYONE BLIND……………….$600 PLUS FOR A PHONE…….joke.
I don’t think Facebook will help much as the market is already down significantly and headed lower as the Apple drug wears off. GDX and oil are falling hard too. We could see $40 oil soon. 1925 to 1950 S&P possibly as the 200 day should fail.
Its game over when GERMANY says “NO MAS” to holding up the EURO and its peons with its massive (comparatively speaking) industrial base……hello Russia and China…lets trade more in currencies other than the Euro….how about……????? I think you know the answer to that…
I kind of expected the Dow to hang around up here a little longer but it looks like it wants to take out its’ 200 day MA faster then I thought. Volatility is spiking again—-in the future, if you want to go long volatility, a good spot would be 14-16 on the VIX. I wouldn’t be surprised to see the market snap back and stabilize tomorrow, but the path of least resistance will be down over the next few days.
I have had trouble with the volatility etf’s in the past and gave up as they don’t follow the vix exactly.
I know Bird and others the other day were debating money supply and the relationship to gold and what to expect in the future. Below is a link to one of the articles on KWN which shows three graphs. In my view the most important one is the graph that shows the relationship of the monetary base (which I might add is a whole different animal then the money supply) to gold over the years.
I agree Doc, we were getting a little too loose with the terminology the other day. Thanks for mentioning it.
Bird, I was going to mention the difference and define what each meant but decided not to. Essentially the monetary base has grown tremendously but money supply remains moribund—-one way to track how poor money supply is (although not necessarily a direct correlation) would be to watch money velocity. One of the reasons I remain an ultimate steadfast gold bull over the long run is the very chart that KWN put out. There are other reasons as well but that chart is particularly scary.
I know the difference Doc and I was aware after pounding out a comment that the terms were misused. I was kind of hoping nobody would notice so I just kept my mouth shut after that 🙂
Bird, I think I was pretty clear with my terminology. Also, I didn’t get around to addressing it at the time, but I was surprised to see that Bob Moriarty can’t see that “gold is money and nothing else” as JP Morgan said. If one needs the state to endorse it and put its stamp of approval on it, then no, it is not money. If, on the other hand, one is more interested in whether or not gold possess the important characteristics that money should, then gold is clearly money.
For those who strangely think that Bob’s opinion settles the debate, I can point to the brilliant Rick Rule and his friend Doug Casey who seem to see it as I do. I can also point to the result of a simple Yahoo search:
https://dictionary.search.yahoo.com/search;_ylt=A0LEVik1aMlUgyEAbRcnnIlQ;_ylu=X3oDMTB0ZjNuMHJ1BHNlYwNzYwRjb2xvA2JmMQR2dGlkA1lIUzAwM18x?p=money&.sep=
It’s also telling that it took Ben about 3 seconds too long to answer a simple question:
https://www.youtube.com/watch?v=2Dj9v9s9buk
And not to sound redundant Doc but it is the time delay that matters in this regard. KWN can post convincing charts till they are blue in the face but nobody can time when gold will actually respond. The bugs always think it is NOW NOW NOW…but history says otherwise and we need to keep that in mind.
Bird,
I’m in Doc’s camp that on a longer-term time horizon gold will do well and even out perform and probably significantly. We are not at that point in time.
The world has a great deal of pain still yet to come, and although gold and other valuable hard assets will not go to zero, it will not appreciate in the manner the hardcore bugs insist it should. It never has and it never will.
In this environment of huge price swings, that is why trading, flexibility and open mindedness is so important. At this point it’s all about remaining solvent so you have the dry fire-power ready to deploy when the PM’s and commodities do bottom.
The deflationary “black hole” that has consumed everything in its path over the last few years has not finished its cycle of destruction. Reversion to the mean has not been achieved.
Gold is going lower this year, and possibly quite a bit lower. For the rational and well balanced members of the community it will be a superb buying opportunity for the miners and the bullion. The same applies to oil and energy assets. We’re looking at buys of a lifetime in the future.
As the long-term bottoming process in gold reasserts itself on its journey to the ultimate bottom the most unreasonable, unrealistic and less grounded members of the cult brigade it will succumb to extreme emotion and lash out.
It will be a cataclysmic jumping off the ledge phase mixed in with a ton of nasty and mean spirited antics beyond anything you’ve seem up to this point.
Stay strong and coherent my friend because the bottom in PM lies in front of us, not behind.
V
China’s position as world’s number one gold consumer above India appears to have been shortlived with latest customs data showing gold shipments to China from Hong Kong fell 32% in 2014 compared to a blockbuster 2013.
Net imports by mainland China amounted to 750 tonnes last year, down from 1,109 tonnes in 2013, according to data compiled by Bloomberg from the Hong Kong Census and Statistics Department. Imports in December fell 36% from the same month a year earlier.
While a retreat had been expected given the fact that imports doubled in 2013, most forecasters thought the lacklustre gold price would entice Chinese bargain hunters.
“Demand for luxury goods including bullion has been hurt by an anti-graft drive in China, while a rally in stock markets damped interest in the metal as an investment,” Bloomberg offers as possible explanation for the drop in demand
This is from minig.com got one the other day saying India was down too, maybe its time for a drop in price and we range between 12-1400 for awhile.
Don’t know how to reconcile this?
Today was one of the most fascinating days on the stock market I have ever seen.
I think the oddest part was the lower-than-normal volume on a HUGE downward move for the PM miners.
And even more astonishing, was the relatively small change in the PM prices. Specifically, I wonder if the daily ratio of the percent changes for NUGT/Gold has EVER been 15x (and 22x for JNUG) in either direction (Maybe Matthew is saying “I have a chart for that !).
I realize that EVERYONE thinks today’s market behavior is predicting another down leg for both the Miners and the metals. Me? I think it was a head-fake to take out the last of the speculation. Who in their right mind would trade JNUG after a 17% drop relative to a 0.75% drop in GOLD?
Brian
Sometimes you are just better off not using stops that force you to realize an unexpected loss. Bounce backs are common enough that it can be less stressful to just ride out a decline today in hopes it comes back in your favour tomorrow. Those were pretty big declines though. Ouch. Probably explains why the board has been so quiet today. The gold bulls got the stuffing knocked out of them again.
Hey Birdman !
I did not get stopped out of my stocks (I’m in it for the multi-year investment), nor did I sell nay. But you have a very good point: Speculators (I imagine) use tight stops.
I just thought the day was FASCINATING (i.e., I was actually pretty relaxed): To wit, the actual metals didn’t seem to budge, so if a person was a true gold bug (holding the physical metal) it was just another day.
BTW, I am finally dipping my toe into OIL (figuratively, of course). Bought some UWTI (3x Bull Crude).
Brian
Brian, I’m not Bird but in my opinion you should tread very lightly in oil investments at this point.
Oil is going lower and there will be better entry points to take positions at some future date.
The technicals seem at this point to support your feelings.
Doh ! ! !
OK … What if I just keep all of my PM stocks and gold and silver, then check back in … I don’t know … Fall, 2017. Should I be OK, then 😉
Brian, we could get a short term correction in crude but the odds are pretty good we see West Texas crude at about $35 a barrel before this is over. I don’t think there’s any hurry to catch a falling knife since once oil bottoms, it’ll probably hang around at its’ bottom for awhile and folks then can take a position. I just don’t see the possibility of a V bottom for oil. There’s just too much supply out there right now and in fact a lot of producers in the short term will pump more just to keep their revenues up.
Of course. I also agree lower crude is the final destination. I am talking short term trends when I say it’s going to bounce. But I am pretty sure I used the word bounce so that should have been clear.
Gold has three supports at the 1268 area:
http://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=1&mn=9&dy=0&id=p99863085611&a=361926967
Matthew,
1268 is about to get smashed. ( just sayin )
Might be tonight, might take a day or so. But it will.
I didn’t say that it will hold or won’t hold; just pointed out that there’s support there. (Just sayin) 😉
In the mean time all you dumb down muppets in here are clearly missing
the fact as I type this a very hot war with Russia is taking place.
Washington is going to pull SWIFT and RT right out from under Russia.
NATO generals are running around pitching a nuclear war and sucking
up to the NWO thats going to affect all of us incl. every women and child.
You people are so far off the mark in here its a abomination as the real issues
develop.
DO YOU UNDERSTAND. We won’t have markets in a few weeks from now. Washington
is committing humanitarian suicide for all of us.
The analysts here never mention anything who are suppose to be conscious. Pathetic !!!
BACK TO THE MUPPET SHOW….
You analysts are to blame. Completely dumb downed and missing the mark
by a long shot. I don’t want to hear the excuses and remarks.
I WOULD NEVER SUBSCRIBE AND YOUR ALL FIRED.
Just hear it now in a few weeks…I can’t believe this, it shouldn’t be
happening. The world is in serious trouble but you wouldn’t know it
coming in here.
THIS IS MUPPETVILLE….the blind leading the blind. Godless too. Worse yet.
Russia is going to bring down the western financial system and
God will use them for his purpose. Everything is going to collapse
food, utilites, banking….YOU CAN FORGET ABOUT IT !!!!!
People have decided they don’t need God anymore and not only that
its out right abominations with blasphemy against God.
YOU CAN’T DO THAT! !!!!! The price is going to be paid now. Miserable
hell is coming to America and the world. Israel is living in fashioning itself
as leaders in the gay lifestyle. Blasphemy against God.
YOU CAN’T DO THESE THINGS. The old testament has many examples of
what God does to nations that do and to an earth engaged in all these sinful
practices.
DON’T THINK AFTER READING THIS YOU WILL GO ON YOUR MERRY WAY.
Gods judgment is about to be poured out on to the land.
Don’t question me regarding this. These are Gods ways.
Get right with God and repent before it’s too late like others are doing
that realize Gods judgment is here.
Few are but at least you may be pardoned and escape the unimaginable
pain thats coming here soon.
Thats what needs to be done not assuming everything will be okay.
NO ONE ESCAPES ONLY THROUGH REPENTANCE.
Don’t come at me with lame excuses. I don’t want to hear them and no one else does.
Just do it. Get right with God before the door closes. Peace and blessings !!!!!
A GOOD READ FOR TODAY…………………..JOHN 12………….jmho………….
Thanks J….. : )
St John Chapter 12 …..
We are to be the salt and light of the world.
This is the end because 1948 Israel became a nation again and Jesus said
the sign of the end is when Israel became a nation that generation shall not
pass away. We are that generation. Hands down.
Ezekiel 38 and 39 war with Russia. Here we are , doesn’t get any better than
that.
Gays will have their rights. We got that main sign too.
ITS OVER AND A FINANCIAL COLLAPSE THE WORLD WILL NEVER SEE
AGAIN…….
WE GOT THAT TOO. Total destruction is upon the land. God has been removed
from our society in many areas of life.
The world or earth is ….D.O.A.
Wisdom would be …………We have nothing to fear…….we are to work,(and being on this site is really work)….do not be of burden to others, stay out of debt , pray for wisdom and guidance…….and let the rest play out as it will…………For it is already written………BUT, we know not the time or the place. But, for those that wish can still do something to help themselves…………………And accept Jesus……but, most think they are to smart for that………….so be it……………………Jesus did not beg anyone, but, offered freely………….IT IS THEIR CHOICE………………..JMHO.
BUT……….I HAVE nothing to correct your method of AWARENESS……….And totally appreciate Every word…..you have written……………..RESPECTFULLY….J……
Thanks J …great words of eternal wisdom.
We must be the watchman on the wall so to speak.
Saving souls is the wisest thing we can do.
The prophetic clock is a few minutes to midnight.
Those we believe in the truth will be redeemed.
The Rapture Of Gods people is at hand. 1948 changed everything. AMEN !!!
I was born in 1948……………must be a sign…….just kidding…………….j……
J …You must have 666 written on your forehead.
WOW…..Its you…..The Anti Christ. LOL
: ) Actually, lot of anti christs out there. Sign of the times. Godless society..falling away
1948 chsnged everything. Its so over looked that famous pastors are in the dark.
THE END IS NEAR. …you see the signs everywhere. Apostasy in the church.
I have to agree most pastors are in the dark……….very few know about PAUL’S message to the Gentiles………….and the difference between WORKS AND GRACE……what a shame………………………;
Precisely J…..regarding Paul and 30 percent of the bible is prophecy.
No mention of it. Now, its all unfolding before everyone’s
eyes and they turning from the truth.
I think it has to do if you love Jesus. I sincerely do and prophecy
lifts me up especially as its all coming true. Tired of this sinful world.
How can you like it. Thank you for your fellowship ..J.
HH……..YOU are 100% spot on…. and likewise on the fellowship…………best j……
J…We know the truth….ootb….
The rapture is real and they scoff and mock that to.
We live in very perilous times and we know what will happen.
Happy is the man who sins are forgiven. …..J…..peace and blessings
Thank you again. Great fellowship. : )
ditto
2 dittos…two thumbs up…and 5 ★★★★★
You are one of a kind …J….ootb
HH……..we ARE ALL one of a kind……THE LORD, says he knows every hair on our heads,,,,I just want know where he is hiding the one’s I am losing………..
Isn’t that the truth ..J regarding these bodies.
The blessed hope we will receive a new glorified body.
30 minutes ago my molar tooth broke off. That’s 2 in 2 months
now. J…ootb……it never ends. Mucho problems until we leave
here. Not one thing, its another.
Praise The Lord for his promise because its not here.
Like you say J…ootb….fight the good fight. ; )
Sometimes I don’t like it ..J..I’m getting tired of it all. : (
You can have everything but you still have to die to this world.
Friend of the world is an enemy of God. Its tiring though…J…
Heavy, what you said is totally ot of our control. The most we can do is to buy some PM to protect ourselves just in case. If there is a nuclear war, who cares about anything.
Precisely correct Lawrence.
EVERYTHING…..IS GOING TO GO….OUT OF CONTROL.
Gods Word if you discount the holy scriptures and believe not the truth.
ITS AN ETERNAL MIISTAKE YOU ARE MAKING FOR ALL OF ETERNITY.
Keep that in mind Lawrence.
India overtakes China as world’s leading gold consumer: GFMS
http://www.financialexpress.com/article/markets/commodities/india-overtakes-china-as-worlds-leading-gold-consumer-gfms/36687/
I never understand what gfms’s number means. Their number is consistently less than half what reported from China. It is same as number China imports from Hong Kong. But China import more from other sources especially after last year. Hong Kong has too much anti-china forces so Chinese government becomes less and less relying on it. The following report is more recognized inside China. the shanghai delivery is 2102.28 tons 4.3% less than 2013. If net out the recycled amount 229 and the net new demand in China should be $1873. Net out 451 tons domestic production, the import should be 1422 tons. The Chinese demand should be much larger than Hong Kong export to China since China imports from several other ports and also is the world largest producer.
Can’t read the link! (;-) Looks Chinese to me.
Obfuscation of the true imports is likely deliberate to throw off demand. Seems like another day at the office for the gold analysts in China.
It is why I did not post it here since most people don’t read Chinese. You can simply compare the numbers I quoted here with the number inside the report. However, GFMS’s number is a total BS. They call the hong kong import number the Chinese demand. totally disregards other imports and domestic production. I am not sure it is stupidity or deliberate disinformation. Poeple should stop believing GFMS and CPM’s number by now.
India is still under import restriction and it may only exceed Chinese damand if they scrap the restriction.
Also the US gold export report I also linked above says that US has doubled the gold export to Asia. So these reports contradict with each other.
http://news.goldseek.com/GoldSeek/1422457440.php
This is in English
I agree that oil has a date in the $30s this year. I glut this shoulder season will drop the price at least $10 – $15 and the ballsy shorts will fill and run the price back into the $50s. The price has caused drama this year already and more drama is needed so the price will drop again. Just IMHO. Oil is a tool of the elite.
Just bought a little more XOP.
I solute you Matthew. You are a tough investor.
My best fill today was 43.2799. Still hope it fills the next gap with a move to 42.56.
Hey Doc, you didn’t say anything about silver but I assume it will correct also.