A good jobs report and some major moves in all the markets
Click download link to listen on this device: Download Show
Biotech/Big Pharma ETFs include:
IBB, BBH, XPH, HQH, XBI.
Some are getting a bit overbought, but the trend is still up.
(And the trend is a friend)
XON is up slightly also and made the 50 bucks.
No one wants to sell bio techs it seems.
WAKE UP CALL…………HSBC….closing gold vaults in LONDON…………..
You guys are hilarious, gold up a few days and predictions of more rally. Gold down a few days, and “we’re going lower”. LMAO! Couldn’t just be in a range, could it?
And to Al’s diversification, everything getting smacked across the board today. You name it, stocks, bonds, commodities and everything else. Lot of good your diversification is doing!
Well that is exactly the problem we saw during the credit crisis nitwit. You cannot blame anyone so I would not criticize Al on this score. When the system unwinds then everything falls together just as we saw yesterday. Stocks, Bonds, Metals and all major currencies went down while the dollar soared. This is what we expect will happen during the next panic wave but we can also include widespread business losses, art, precious stones and housing to also collapse in price. Lenders will not be spared. In fact virtually no area of the investment world is safe at that stage of the game. What begins then is a deep recession or depression followed by steep jobs losses. It cannot be avoided and this particular bust will be epic. So fasten your seat belt and pray you get through it with less than the average declines.
Diversification tends to be safe, but in a 1929 style crash, CASH is KING.
I’m thinking the RNB included.
I diversified out of many of mining stocks in Jan and Feb, anticipating the PDAC curse in March and now we have it. March and May are seasonally rough months for the PMs, but this coincides with the bottom in commodities we expected in the spring/summer in the whole commodity complex. What was odd is how weak February was, when it is seasonally a great month for gold/silver.
It seems the gold market will whipsaw from here with lower targets at 1137 and 1131. If those don’t hold, then 1044.70 is next support.
Yes CFS. All the signs are present. We cannot be complacent.
Too much global QE for stocks to crash.
That’s what I think too. Agree Gary.
But this chart if for you Gary. Thought it might give you a good laugh.
Screw it…….I am all in!! — From ZeroHedge.
http://streettalklive.com/images/1dailyxchange/misc/Nasdaq5000-031615.png
Very telling chart of the typical retail investor. Tragic comedy.
Gary;
There appears to be an increased amount of big money herding.
i.e. hedge funds/banks doing the same thing.
If the markets start a significant down trend, it is not clear to me that we will not have the herd jumping on and trend-following down, regardless of money being pumped in by global QEs.
Can hedge funds outspend central banks? Maybe not in long run. But with leveraging, for a short time period, I would not bet on it.
QE has done nothing to gold which should be more sensitive to monetory event.
Lawrence,
I’ve been trying to warn people for a couple of years that the gold market is being rigged. Why stand in front of a rigged market.
Sure I agree with you on this. But if you really not in the market ， when rigging fails, you are outside and no one will tell you it failed. Only way you will know is the price has jumped and gold is not available. So I still have part of my money in it. Gold is the only asset to protect against monetary event. When Zimbabwe hyper inflated, the stock market run like mad but the average portfolio could buy 3 eggs at the end.
Also they have been rigging since 1950s but gold still up over 30 times. US does not have unlimited gold in its vault.
Gold crashed before the report by two minutes. Put horse before the cart.
Advance, inside information? Would not be the first time.
No, on the time the report supposed to come but report was slightly late. So it is preprogrammed.
Nice how Gary just ignores his last prediction when it doesn’t pan out, like with oil, then just moves onto the next one with the tone of an expert.
I’m definitely going to keep tuning in as long as Al doesn’t censor any comments with truthful observations and criticisms. The entertainment value alone is priceless!
nitwit
Your 1000% right in what you just stated.
Don’t know why the rest of the crowd can’t see that 🙂
Peter
Hello..nitwit , & welcome..You keep your comments coming, & “NO”..The Big Fellah , …
WONT censor your comments.
Stewie keeps on telling you guys that 1080 is coming and you guys keep thinking stewie is a troll….hahahahah…Well maybe now you be believers that stewie is here to conquer the world ahahahhahaha
I also told you about the murk and here we are lol
well Gary, what happened to your much touted US dollar pull back As I pointed out since your call several weeks ago with a projected top of dxy 94, it makes no sense to forecast a pullback at the precise time of rate rise and employment increase. Well it’s been on a tear after a brief consolidation at your forecasted top. At top momentary pop in oil at beginning of Feb, you called for a rally to commence with some kind of cycle end blah, blah,. Wrong again as oil will move opposite dollar in short run and again it’s never seen that momentary pop price as has gone sideways to down since. With gold you last predicted any one of three possibilities, up, down or sideways, and you’ve been right one of them. Now you keep predicting a blowoff top in the markets to some unknown level. I’ll take the opposite view as you are a great contrary indicator and say with fumble around here with continued US dollar strength and go DOWN into the second half of the year most likely into the fall.
Im incline to go with these views as far as as second half of year. Unless the dollar sells off then gold catches a bid and if not, no way in hell both dollar and equities rise together. Bank those words.
Or credit Union those words 🙂
John,
Gold doing exactly what I said. Stocks doing exactly what I said. Oil doing exactly what I said. Granted I was early on the dollar. But 3 out of 4 ain’t too bad.
Gary, you are a real head case. You say one thing, you then change your mind two days later; and then you change your mind again. You flip flop like I have never seen, but according to you, your virtually always right.
You could not be more right about Gary. If we were in the ring he would be introduced as Gary, the flip flop, Savage!
The Euro has done an absolute nosedive today.
Stewie,
It’s going ..way….. below 1080…..
I just 1 upped ya on troll, lol
hahahahah…it’s not going to 900 i can tell you that right now. 1000 will not be broken and Gary is right we will get rally from around that area. My guess would be 1050-80 as 1000 is nice psychological number and also our previous high.
Stewie,
Im not sure why the lol/hahahaha’whahawwhahwa :(..
Who is this anger intended for as everyone on here is pretty cool with each other. I actually like some of your calls no need for that nonsense of lol murky murky crap lol 🙂
Anyhow what is your time frame for murky/murking? 2 weeks?end of month?
The reason I ask is because RSI is exactly were you were wanting it few weeks back and so are you entering or waiting for rsi to blow up?
Thanks
Glenfidish i’m just having some fun with this. That’s all. I’m actually not angry but happy as i exited on top i will get opportunity to nail another rally soon. I know i noticed RSI 5 is at 10 which is nose bleeding territory. On 14 we’re not there 35 yet but i go with 5 most of the time. Since i know 1308 was just another bear rally and we will make lower low this is not it yet. It will bounce up on Monday and Tues probably as it’s oversold but i has a date with 1100 within 3 weeks like Doc said. If you look at last peak and first murk it was actually 2 weeks but maybe it will stretch a little so i see Doc gave another week. I also now like Gary’s time frame of summer for the low although i don’t think it will take that long to get to 1050 as we’re almost there. Radomski put out good article with Euro going to parity with dollar and most likely that is where dollar will top and euro bottom. That will probably be bottom for gold and euro. Naz is 100 pts from top like Gary said. I like Avi recent calls too. If gold goes to 1050 and HUI goes to 100 that would also be capitulation phase Rick Rules been looking for a year now or as i often say ultimate Murk. Murk’em lol
Everything is aligning nicely now for golds bottom. Good luck gentlemen and let me have some fun along a way. lol. Thanks to Gary, Doc, Avi, Rick, Al and Cory.
Glenfidish i’m just having some fun with this. That’s all. I’m actually not angry but happy as i exited on top i will get opportunity to nail another rally soon. I know i noticed RSI 5 is at 10 which is nose bleeding territory. On 14 we’re not there 35 yet but i go with 5 most of the time. Since i know 1308 was just another bear rally and we will make lower low this is not it yet. It will bounce up on Monday and Tues probably as it’s oversold but i has a date with 1100 within 3 weeks like Doc said. If you look at last peak and first murk it was actually 2 weeks but maybe it will stretch a little so i see Doc gave another week. I also now like Gary’s time frame of summer for the low although i don’t think it will take that long to get to 1050 as we’re almost there. Radomski put out good article with Euro going to parity with dollar and most likely that is where dollar will top and euro bottom. That will probably be bottom for gold and euro. Naz is 100 pts from top like Gary said. I like Avi recent calls too. If gold goes to 1050 and HUI goes to 100 that would also be capitulation phase Rick Rules been looking for a year now or as i often say ultimate Murk. Murk’em lol
Everything is aligning nicely now for golds bottom. Good luck gentlemen and let me have some fun along a way. lol. Thanks to Gary, Doc, Avi, Rick, Al and Cory
+1
🙂
Mark ALAN…ditto on the smile.
How are you my Irish Friend? What’s real estate like over there? May have to stop by and say “hello” whenever I get my “hind quarters” in gear.
Charts,
You still calling for the 600/700 number? You said it would take two weeks I’ve written it down as of today.
Good call this week it broke that wedge. Now as of today you have two weeks to reach those targets you said would be 600/700/800 can’t remember.
Glen,
I’m saying from 500 to 650 being bottom. It should happen pretty quick now. Bottom being late march to mid April.
Can I hold you to this? If it does not happen, please don’t scare us with washout next week type of prediction.
ditto on that! Do you agree charts? If it don’t happen stop posting bottom basement prices. 🙂
Are you expecting a pop off those prices back 1200?
Chartster i like your time frames and time wise that should be nice bottom but not price wise. I see 1030-1080 being nice bottom and rally to 1240.
I have nothing against your price but chartster’s makes me laugh
And the dollar is going to be ” a dollar “
Good one Chartster! Kind of made me laugh when I read that.
Now that is funny..
On Friday March 6th 2009 the DJIA hit the long time low of 6,443 loosing 54% of it’s value.
It looks like a deleveraging day today with the dollar sharply up.
However gold is not really up versus commodities – and the fall in gold has actually been more than in silver in percentage terms so it’s not that straightforward:
Gold -2.55%
Silver -2.50%
as of now on Kitco.
At the moment, gold is down more than silver…
Burn!
Great contribution 🙂
How long is everyone going to keep calling these reports with above consensus job gains, but falling labor force participation rates and past gains revised lower “awesome.” Really getting old.
Put the pasture in front of the heard and they all run for it. Basically they all believe what is told.
Gary:
You still believe that miners have put in an ultimate bottom?
Tom,
No he does not. He says lower low come june. He said miners would probably not make a lower low.
Maybe. We’ll see how they hold up when gold reaches 1130 again.
FRESNILO tanked on Friday in London. Back below £7.00. Anywhere below £7.00 has proved to be a good buying opportunity in recent years.
I will be keeping a close eye on it next week as, if gold does drop down to $1130, I will watch how FRES reacts. If it does not crash along with gold then I will assume that the big boys are preparing to pump gold back up.
If FRES goes to new 52 week lows then… look out below IMPO.
I’m glad I rolled up my gold carpet while that micro pop in gold happened yesterday. I thought $1168 was an entry point but this is really getting ugly. Walk away and come back in the summer or when ever this falling knife hits the marble floor! I know it is very dangerous to enter the rigged stock market but this is exactly what the mobsters at the Fed want. Cash is King until further notice.
Smart move.
AS I HAVE STATED IN THE PAST….ITS ALL ABOUT THE DOLLAR..THE HOLY GRAIL…..
THEY WILL RAPE YOUR GRANNY , & YOUR TWO YEAR OLD CHILD …TO KEEP THE F$$$ING DOLLAR ALIVE…..ALL “THEIR ” WEALTH IS IN THE DOLLAR…DESTROY THE DOLLAR & YOU DESTROY “THEM”…………………………………………………………….
Picking a bottom in anything is a fools game.
for certain.
******* ANOTHER BULLS@%T JOBS REPORT FROM THE BLS AND HERE’S WHY *******
http://www.zerohedge.com/news/2015-03-06/did-bls-once-again-forget-count-tens-thousands-energy-job-losses
******** LIKE I SAID, LIES,LIES AND MORE LIES ***** AND DOWN GOES GOLD $40.00 ******
HEADS UP……………….HSBC…CLOSING gold vaults in London………….kwn.
Hey, three extra fake jobs were created last month. That’s as good a reason as any for the manipulators to raid gold again. They could take gold to zero if they had created a few hundred more fake jobs. LOL!!!!!!
Well, my thinking is still the same as it was all the way from 1800.
I think the Chinese increase buying at about $1000.
Should we go below that, its hello $400, and we could, we still don’t know the supply side of the equation.
No single gold company can dig gold out at $400.
bb,
We don’t know how much supply is going to hit the market comment, is spot on.
Gold doing what it does best, going down.
Martin Armstrong for president!
🙂 His computer certainly is something
Well, maybe I misunderstood his interpretation of his computer output. But US bonds this last month are diverging from his report of what the computer says. Like everyone, sometimes right, sometimes wrong. I don’t have the link, but about 6 to 8 weeks ago he indicated that the bond bubble was right on schedule. But 10 year Treasury from 1.64% to 2.24% last 6 weeks or so.
strange thing is, he loves to bash gold bugs. He enjoys ridiculing them day after day.
But they were the most supportive of him when he was convicted and thrown in jail.
I never heard one word of ill will toward him from the goldbugs.
He seems to have an unusual disdain toward a bunch of small time players trying to financially protect themselves. Who knows why, but I believe he is happy to see gold bugs lose it all.
No Dave, I recall him making a few good calls on where gold was going (down) but then in response he got a heap of hate mail from the gold cultists and that may have put him off because they come across as being so bloody stupid and rigid sometimes.
Suits all of us that those Neanderthals lose their shirts. Its a good lesson in market dynamics.
Not really. I know a lot of the gold bugs. They seem to be a pretty good bunch of folks. Honest, trying to protect themselves financially.
I certainly do not like to see anyone get hurt. You are wired differently birdman. You seem to take delight in others pain.
Oh well, just an ovservation.
Hhhhmmmm…
I’m going to have to disagree with you on that one Dave. From what I have witnessed over the past three-and-a-half years of following Armstrong, its CERTAIN famous goldbugs who despise Armstrong and its those that Armstrong makes a fool out of whenever they open their mouth about “this is it!” or “to da moon” or “this will change everything” statements that sucker in the less experienced, highly emotionally driven investors looking to get rich because some “expert” told them gold was a “no brainer”.
Also, less than 5% (maybe less?) of his posts are in regards to gold and they are unbiased.
Dave….He got out of jail by crossing to the dark side…He is now one of “them”
Dave, I have also known a lot of gold bugs over the years too. Some of them verged on violence in expressing their extreme beliefs. They were beyond poisonous, what I actually considered to be dangerous members of society with their extreme hatreds for all authority and government. I still find it utterly bizarre how nasty and vindictive they can be when anyone threatens or criticizes their little golden and silver treasures. So yes, I have no sympathy whatsoever for the nutcase crowd who are mostly anarchist, gun toting financial terrorists with greed in their hearts and no love at all for their fellow man. That’s why I get a kick out of golds price falling. Let the market teach those idiots and punish them for their lack of real beliefs as they follow their golden idol back to its intrinsic value.
He will turn US into a giant casino if it is not already.
Armstrong will miss the turn in gold just as he has missed the turn in bonds. It’s easy to extrapolate the current trend into the future. But difficult to discern the turns.
Thank you. It sure has seemed to me that he missed the turn in bonds. Could be he will be silent on that topic. Glad to get your corroboration re: bonds and Armstrong.
Are you certain its a turn in bonds? I’ve heard similar arguments from the goldbugs regarding gold and the same thing about the stock market from the perma-bears.
Mark Alan,
No, quite frankly I am not sure it is a turn in bonds. I admit I am a little upset that quite a bit of my paper gains in my bond ETFs have withered away. I contend, though, that unless I just do not understand his words, this bond correction has been more severe than expected.
Thanks for responding Derek!
You know it’s funny; a guy like Armstrong can make this pretty awesome computer, yet he can’t give simple explanations that the average person would understand. And to make matters worse, his grammar and spelling are terrible…sigh 🙁
But on a side note, I do utilize his PEI charts for the SP500 and DOW and they sure have helped enhance my technical analysis. Had some great short plays in the SPY for the week, so no complaints from me.
I bet poor Gare is REALLY depressed today since gold tanked. I’m red on both sides of the trade Gary so I feel your pain. Was going to average down on DUST but put a hedge in on NUGT. Got hosed. lol
Actually I’ve been short since early in the week.
Al, thanks for the reply. It was an interesting little article. I suppose there would have been a longer list of people after the tech crash in 2000-2002 who were billionaires and became millionaires.
I guess that being all-in on resources including gold is the new way to be an ex-billionaire turning into a millionaire. Your message of diversification is well taken, Al.
Not ever having been a billionaire or even a millionaire, that isn’t likely to be a problem for me, ever!
I like it when Cory says, “Gold is not performing very well.” That’s beginning to sound a bit like an understatement, unless you are in the Eurozone and even after today, gold looks not to bad because the Euro tanked half as much as gold did! For the world’s second biggest currency (supposedly) to fall 1.5% in a day is fairly remarkable. On my trading screen, it appears to have fallen 1% in the span of one single 2-minute bar on the chart around 1315 Greenwich Mean Time. (0815 NY Time?)
HSBC……….shutting down GOLD VAULTS IN LONDON……….kwn…
HSBC is the only British bank involved in massive decades long manipulation. If they are out, GB is out too. At least we see some action. If this is way to force their clients to sell, not only they will bring law suite, they hurt their credibility a lot as well. No bank wants to go this route and this must be the last method before out-right default.
GOOD question…….CFS and I are discussing this in another section…..Cfs, notes, that there is no mention of the closure on HSBC home page……..
Guys take with a grain of salt anything out of kwn. There is no credibility there.
Well ………I will have to think on that one………
Eventually kwn will be correct, assuming gold actually runs out.
But I think they all should have known and advised that gold/silver would turn down after parabolic moves. Since all parabolic moves turn.
That goes for Keiser too, $500 silver was his call for a very long time.
I think all they proved is they are not as wise as they hope people will believe.
I figure they show something else, with all their claimed experience and knowledge, they just show they really don’t understand markets as well as they come across.
Actually there is one well known person who owns a company that sells PMs and manages portfolios. I am sure you all know that and know who I refer to. With some of these people I wonder about conflict of interest. Don’t listen to them anymore but I did until early 2013, unfortunately.
TFMR Podcast – Friday, March 6
Given this latest string of extraordinary events, I thought I’d just go ahead and make today’s podcast freely available to everyone. Not that it contains any special information…these podcasts are something we do for subscribers every day. However, given the beating the metals have taken over the past month, I thought some non-Vaulters might find this helpful.
http://www.tfmetalsreport.com/podcast/6669/tfmr-podcast-friday-march-6
WOW! A forecast of gold 500 to 650 by late March or April. If you believe that you should be heavily short to make a fortune! You will need a derivative blow up in the banking system for that to happen. And if it does, prepare for the Dow to be about 5 thousand points lower.
As side note guys negative sentiment is slowly creeping in on this site. This is exactly what i’m looking. When most will get bearish here i will be in. That’s not there yet but when 1050 rings it will be blood here and Chartster calling for 850 within 14 days that will be THE BOTTOM IMHO !!!!! hahahahah
gary, I read your response stating you were correct on gold, bonds, market but early on dollar top. I do respect you responding to some harsh criticism, however, check back on your blog, you stated oil bottomed following a three day rally, oil has not seen that high in early February, but topped at that point and not bottomed and has since gone sideways to down. as for gold you have had an opinion a day, now apparently it’s going down to 1050 or so by end of spring. we’ll see how long that prediction sticks. as for the general market, you predict a blow off top before a serious sell off. we’ve had a blowoff top, unless you feel any potential 1% rally as a blow off. this thing is going to be much lower by end of summer than it is now irrespective of gyrating short term
Stewie,
Well thanks as always for your thoghts. I have tracked you moves somewhat from what you have said and your not to shabby I gotta say :).
Do you play s&p? How do you see it playing out Monday/tuesday?
cheers
Glenfidish probably beginners luck. I listed to myself this time. I never did before. If i did i would make nice change. I think i will do from now on as i see it paid off last time.
I don’t play s&p but i probably should. To me trying to get last few pieces of pie and looking for quick abbys is suicide so i don’t play that game. Its been way better market then gold i know but at this time you playing Russian roulette.
Sorry my intial post ended up above your comments.
Monday’s telegraph headline.
‘A mini-Greece is about to go off in Europe’s heartlands, and markets don’t even know it’
Meanwhile biotech still goes on:
AVEO today, watch CALA tomorrow and Keep your eye on EYES.
Safety is in an ETF though.