Starting the Week with Gary Savage
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CFS, I think you have confused this site with ZeroCred.
Which site would that be Bob UK?
The one that keeps forecasting the demise of the US and the West whilst promoting Putin Al.
Apparently economic collapse has been about to happen any day now for, oh, the past 6 or 7 years.
You really have to wonder which side these guys are on.
Actually for the last fifteen years or longer depending on who you are listening to!
It just gets crazier and crazier over there.
Not a good time for a Mediterranean cruise or an on land visit to the Holy Land!
You sure Al? Flights are at a good discount right now. Hotel rooms are a bargain in a lot of ME countries. Think like a contrarian. This is a great time to travel to your historical destinations. …..
May I suggest Egypt for example?
Hate to say it Bird, but I have absolutely no intention of heading in that direction.
Right now Kathy and I are toying with the idea of heading down to Sonoma. We have a 40th anniversary coming up in a couple of months. Two part celebration. Part two is a 21 day road trip in July and we are still looking at part 1 for the end of May.
You saying relaxation on the Tigris is not for you?
21 days is good to tour the Middle-East Al.
Just get a decent 4×4.
Only issue for you two is that July is hot.
π π π π π π π π π π π π
Best,
LPG
100% LPG. There is not that much to be scared of over here. This is the best time ever to go sight seeing. Bargains galore and pretty nice people too. None of the tour operators would take you into hot spots anyway. That is in nobodies interest to have an incident.
Gary ! You start to speak reality from the Gold price ! Thank’s ! 100 % Manipulation 24/7 !
Those guys are simply idiots, Professor!
But dangerous idiots, who have no problem selling rocket and bomb technology to Iran and Libya. (Or even uranium hexafluoride AND centrifuges to Qaddafi!)
That’s why I watch N. Korea.
How do idiots get rocket and bomb technology?
They bought it from China and Pakistan respectively.
Please comment more on what you know about atomic weapons and Iran. Much appreciated.
IMHO:
This is a typical PDAC curse combined with Monday morning takedown.
This too shall pass quickly. I’m more optimistic about precious metals than Gary.
Wow!
Nice pop on CRJ today…
I don;t know why but I keep thinking Matthew might have sold some into this π
Btw, Matthew, kudos again for your call last week – I think you commented on the chart on Thursday (I think you said the chart looked “superb”).
As a disclaimer, I lightened up on the name today – although it’s a small position in my portfolio. But w. c +60% in just a lil’ more than 3mths, I gotta take some profits when it reaches my first sell zone. Sticking to the plan – even if I leave more upside on the table in the short-term.
Best to all, and GL investing/trading.
LPG
BTW, thanks to the “Korelin gang” for having mentioned this company here and for the write-up in one of the newsletter last year – appreciated.
Best to all,
LPG
Thanks LPG, yes, I did trim a little today but I think it can still tack on more quick gains despite being overbought right now on the hourly, daily, and weekly chart. If gold acts well, look out. If not, then this could be an area that will require some consolidation.
On the 26th, I also said: ” I think a brave and nimble trader can capture a decent gain by getting in right here.”
To which Bird predictably responded: “Lord help us all.”
—I consider 15-20% in a few days to be decent.
Notice that Claude is now about 24% above its pre-April 2013 breakdown level.
http://stockcharts.com/h-sc/ui?s=CRJ.TO&p=W&yr=5&mn=3&dy=0&id=p15102886333&a=373914878
Cheers!
Nice trade Matthew.
NDND – “No diggity – no doubt”: https://www.youtube.com/watch?v=1ymZLKz7mac
π
Best to you,
LPG
It was a good day π
https://www.youtube.com/watch?v=_AL1LdeTPow&list=PL09C5BE01B6EE0271&index=10
π
You are only trying to cover warts and puss-balls with butter and cream cheese, Matthew. We note that you have almost never admitted a trade that went wrong. So unless you are the worlds best trader who buys miners and gold profitably during a 4 year secular price decline then you are just a liar or manipulator.
GDX down 2.7% today….GDXJ down 2% so far……keep yapping pal. It is getting to be pretty thin and noisy with all your bull-tard blather. But do me one favour….don’t stop. If you take your followers down the same road you just help keep the dollars flowing for the rest of us!
π
I am pretty sure that Matthew is telling the truth, Bird!
Funny stuff there, NPD boy!
Gold up overnight in the wee hours then DOWN in the day, erasing all of MOnday’s gains and most of Friday’s.Not exactly an impulse leg!
I don’t know who that’s directed at, but I didn’t call this an impulse leg. This is actually the action that I expected from gold last on Friday (Glen probably remembers). So it’s a day late….. Overall, my miners are slightly positive today.
Btw, Dufus McBirdman, there’s no such thing as a “4 year secular price decline.”
http://www.investopedia.com/terms/s/secular.asp
If you would take your meds, perhaps you would be lucid enough to be embarrassed by your garbage.
Matt,
yes i remember you said 1198 could be a number that could be reached on friday that just past. Guys the week is not over..Let’s see what the charts do. They have mysterious ways of changing tunes fast.
Exactly, there is no such thing. You are catching on little by little but I’ll give you more time to get out of the wading pool.
Common Bird,
Now you are putting down our country club. So what is so funny about wading pools? You trying to get banned?
Guess it does not matter how deep the water is as long as they serve drinks poolside!
Morning Matthew,
Claude is one of the good ones right now. What is going on with the stock does have historical precedent! Just look at the ten year history.
I agree, Al. That’s why…
On July 29, 2014 at 11:00 am,β¨
Matthew says:
Claude Resources (CRJ.TO) is another one that has been really beat up by this bear market. I am convinced that the worst is absolutely behind Claude and that the current price reflects risks that just arenβt there and concerns that have been dealt with. It just rallied 100% in five weeks and is going to go much higher in the weeks and months ahead.
Yes, you agree (trying to smother a gut busting laugh in my sleeve)
I BET it is a BIG GUT……………………..HA,HA
sorry, I could not help myself……..lol
There is always a take down of precious metals every time someone says something nice about them.
Here’s some good news:
PALL, shares in physical palladium, just broke above the 200 day moving average.
Movement in palladium sometimes happens in advance of other PMs, but sometimes it is a reflection on how bad US-Russia relations are.
Told you the other day we were getting a breakout. It’s old news now. You don’t listen.
What’s happening now in the gold market is definitely confirmation for me to stay off. Never mind hanging on until job day, but I’ll try to hold on until tomorrow morning with high hopes that the futures will be in green.
But also thinking there’s a chance that the market might go into transition starting tomorrow.
I am curious as to what your rationale is Jane. Not critical at all, just curious.
By Friday I summed up the rally didn’t look good, especially JUNG. Usually NUGT and JNUG are up a lot first two days of any rally, so Friday was a red flag, but hung on. About the comment of the market going into transition, just thinking maybe the Dow and Nasdaq have to top here before we see any upside in gold. So, if this transition doesn’t occur tommorw, then I will take my losses.
Don’t think it will occur tomorrow.
I think the optimism, as reflected by the conventional markets, will continue for awhile and that will not be positive for precious metals.
I think you’re right.
YES……….GOLD WAS OFF TO A NICE POP…………..JUST UNTIL THE RIGGING BOYS CAME BACK TO WORK AT 5:30 EST THIS MORNING.
Can they allow the market to keep operating when they run out of physical to dump? Hard to say. Government will do whatever it takes.
YUP………….THE GOV’T WILL DO WHAT EVER IT TAKES TO SURVIVE, this is how you know that they are SO DESPERATE NOW………….it’s really kind of SAD !!!!
So at least in US, people have to prepare for confiscation or banning of gold ownership as FDR did in 1933. It could happen but I think it will not be world wide since most governments don’t want world reserve currency status. Governments in the east may just partially back their currency with gold when they feel currency stability is needed. I am not sure what Canada will do so I am a little nervous. Not all my PM can be converted to physical since some are in RRSP.
NO THAT WONT HAPPEN IN AMERICA…………..it’s not WORTH IT………..ONLY 1% of the STUPID AMERICAN people OWN GOLD, so that wont be enough to SAVE US……….NOPE………….IT WANT BE LONG NOW.
I agree with mark……..I will not happen…………
It will not happen…………..
KEEP IN MIND……..that NOBODY around the world likes the U.S. GOV’T ANYMORE, and everyone is ON to OUR BULLSHIT………..THEIR ALL working to EXPOSE US NOW, they are ALL making DEALS with each other WITHOUT the UNITED STATES INVOLVED………OBAMA and the CENTRAL BANKSTERS brought ALL of this on, so YUP………….IT’S JUST A MATTER OF TIME.
You are perhaps correct on this, Mark.
Time to kick the bums out…………NEW GOVT NEEDED…………….
Could be manipulation an rigging, but if so what is the point of investing in gold right now? I just hold on to my coins b/c I know eventually the market will prevail and my coins will be handy in the future. I see no point of trying to even trade gold right now – would lose sleep and be tied down to computer all day.
I find other markets more beneficial right now. Notice the steep rise in Treasury yields today, and the rise in the stock market. To me, those facts could be causing gold to sell off some today.
I am definitely in your camp, at this time, Derek!
Gold has erased all of today’s gains from early morning trading and is now working its way through most of last Friday’s gains for good measure.
Support should be at about 1205 and a half but who knows if it will hold?
You assume there is still a market. Hold of not hold all depends on a few people’s will. They can smash through any so called resistance. They can shut down the market if they feel like it.
Really an interesting short term trend, Silverbug Dave!
Dave,
I’m watching that support line as well. It’s broke the line several times in the last week, but never closed below it. If we get the close below support, ..lookout.
* last two weeks
whats going on with Novo Resources today??
Sorry Dan, don’t know the company.
Novo is looking for a new Witersrand type reef structure in Australia. They just announced results of their first deep drill hole, which struck some half gram gold at lower levels.
This may partly prove the theory of gold deposition, with, if true, has potential for a big discovery.
It looks like many considered today’s press release as a “sell the news” event while many more were happy to buy the subsequent dip. It has already clawed back 75% of today’s decline.
$10M in cash is not bad for a $40M explorer in this environment.
Only a half is not worth going after at depth. I guess people were hoping for a much larger hit.
But this is only the first deeper hole and it, at least, partly hit.
half gram
That is Witwatersrand type reef structure as in Gauteng province in S. Africa, which has yielded about half the gold ever mined in the world.
Yeah I read that but Novo resources was down 37 % when I typed question in… Now down 8.65% just wondering why they were down over 30% on good news??? thanks!
Although -37% is excessive, It is common for short term focused speculators to dump their shares when their reason for owning away. Then a different kind of speculator steps in to buy. It could also be that one large player wanted out or that enough of the market was disappointed with the results.
Total volume today hasn’t even reached $200,000.
I don’t know the company so I’m probably missing the best reason(s) for the action.
Typo first sentence: “…when their reason for owning GOES away.”
When he says “short term speculators” he is talking about anyone who bought at the 2011 gold highs and did not hold until the lows we see today. That is because it is somehow in his interest to mock those who *wisely* abandoned gold and miners back when gold was obviously cratering after falling below 1800 dollars. So keep it mind when he uses those sneaky manipulative terms because he is one of the promoters and charlatans that still populate sites like this.
You are out of your mind, Birdman. Your comment is 100% false. You’re rating remains FFF- grade A dirtball.
Yeah yeah yeah…… I know Matthew. I know all about your comments about smart money and strong hands that you blathered on about for the past couple of years. All wrong too. Jesus you just never quit do you? So now that your MO has been modified a little you think I don’t detect it?
Please capitalize Jesus. What is wrong with you? Is Reverend Moon influencing you?
Matthew and Birdman, you guys entertain me immensely!
I suspect Birdman and Matthew are 2 fake characters created by Al to generate more entertainment on kereport.
Until I will receive technical/technological evidence(s) that I am wrong on these claims, this will be my contention. And I will stand by it.
Period.
LPG
PS:
k-i-d-d-i-n-g π
DAY NEVER STOP ! https://www.youtube.com/watch?v=4Bd1hbaV2Yk
Hey LPG,
I would not be surprised as ratings is what its all about π
kidding…hehehe
Are you a ? BIRDMAN ? https://www.youtube.com/watch?v=4wqHdR1tDD4
Nice one Glenfidish π
Best to you and GL for the rest of the week.
LPG
thanks Matthew…. I think you nailed it and thought the same thing but also was not sure I was “missing something” Thanks for responding! Much appreciated!!
You’re welcome.
Good luck to you Dan. I mean that…good luck with your star maps.
Matt,
what level do you prefer gold to close today at?
what is the line in the sand for gold close today?
I gotta tell ya its hanging on by threads at that 1207/1208.
chartster believes 1198 is the line.
I would like gold to hold the current level.
http://stockcharts.com/h-sc/ui?s=GLD&p=W&yr=2&mn=11&dy=0&id=p93532193436&a=389024280
A move to the 1204 area would fill a little gap in GLD.
http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=7&dy=0&id=p96183188367&a=390317474&listNum=1
Thanks Matt..
You can see that the dashed blue line on the following chart is more than just a H&S neckline:
http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=3&dy=0&id=p93601016309&a=385060100
No blue pitchforks today?
The real “Birdman”
http://thecorner.typepad.com/photos/uncategorized/2008/11/07/gadfly.gif
Cute, Matthew
He is cute. i tried to date him once but his ex-wife warned me off.
Was the closet getting too confining?
Birdman and the real SCHOOL ! https://www.youtube.com/watch?v=MoaJsWIybI0
I’m thinking 1206 is the line. I just want a iron clad close under the line. It’s been testing this for two weeks now. Git r done already..!
So charts your saying if it closes below 1206 today its headed where? Give me price and timeline?
Thanks
Glen,
It’s possible we could get a big gap down tonight. I would have been convinced of that if it was to close lower, but it’s a wait and see thing. By tomorrow night or Wednesday morning gold will either break down big, or go up a little and bounce around. It’s in a wedge that’s gonna break by Wednesday.
And yes, this could be the coming wash. Gold is not hanging around this support for nothing.
And there is a lot of background ( physical things happening ) to cause the wash.
Wash that sh1t down to 1080 please. Bull sh1ting around for another 2 years in this range only gets you 2 yrs old and no money made. Murk that sh1t down so we can move on to 2000 gold. 1130 is coming next then 1080. Deal with it.
Hey Al,
it would be nice to hear an episode where Docβs, Gary and Ricks thoughts about Andrew Maguireβs take on what this new Chinese gold fix will do?
Do you think it is really something that will fundamentally change the corrupted gold suppression scam the West/China has been running? More importantly what will the effects be on their charts? Will a higher gold price be the result? I think China might be ready to announce their holdings.
Here is a Reuters article about it: http://www.reuters.com/article/2015/02/27/gold-china-fix-idUSL4N0W04Z220150227
This guy has been saying the same stuff for the last three years. I wouldn’t pay too much attention to him.
Ditto…he is a fraud.
Be careful Gary.
Sometimes by saying the same thing every day…one day one becomes right ! π
Best to you,
LPG
Ain’t that the truth!
We need to get you back on the Show. How about recording something on Friday?
Confused,
Good article! Exactly what’s happening!
Fair enough confused.
Al
It’s looking uncomfortably like gold has been successfully capped at $1220 and this may be all the rally we are going to get out of the cycle low.
Gold bulls getting fleeced again by the bullion banks. Ouch!
Glad I got out first thing this morning with a profit.
Gary,
do you ever consider some of us have longer time horizon then a day’s trade? Also the ouch is unnecessary! I know your better then that.
I wonder if Docs “pop” is still coming.
Doc was talking very short term re: the pop. Mid to long term he is not at all positive.
I can see someone like you directing cheap shots at me but im cool with it π
For someone who allocates 25% of bullion “Of which he claims” this type of comment is not a suprise. Easy to separate sheep from cattle.
glen
My response was also in defense of doc!
At this rate we could be at NASDAQ 5,100 by the end of the week. So is it looking like no dip until that is broken?
If we get to 5,100 then surely there will be no dip but, more likely, a sizeable profit taking drop will come sooner than later?
Just thinking out loud.
Gary,
thanks for your input. Even with the new physical exchange the Chinese will manipulate the price like the Americans; to protect their policies, currency and power. I guess they will also like to keep a cap on the price for as long as they can.
I heard a Chinese friend summarizes the policy of Chinese government, it kind of makes some sense: they don’t want gold to go too high since they are accumulating. They don’t want to go too low since gold holders in China will get unhappy.
But I am sure they cannot suppress price as western government do since they are buying. Buyers cannot drive price down, only sellers can.
This is does make sense but infuriates me nonetheless.
I guess the conventional “manipulated markets” are the place to be right now then. Well, at least until they can keep the sham going eh!
The population don’t now GOLD ! Saddam Kadaffi Ukraine All go where ?
AND NOW FORE THE EX (EX) Sovjets ! https://www.youtube.com/watch?v=Veyt5_1kOaU
China will not be interested in higher priced gold until they can’t buy anymore. Why would they? They are not in a hurry. They look at the long term only. I feel that gold is going to trade lower or sideways for the medium term. If we get a market accident we might finally find the old lady’s bottom.
Murk it to 1080 now so i don’t lose another 2 yrs of my precious life being stuck in metals. I already lost 3 yrs. murk it.
What does D I V E R S I F Y mean?
Off Topic:
http://www.theguardian.com/world/2015/feb/25/al-qaida-planning-kamikaze-attacks-ships-mediterranean-russian-cables