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The up and down moves in the conventional markets are simply signs of stupidity

March 12, 2015

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110 Comments
    Mar 12, 2015 12:14 AM

    Might be of interest to readers:

    ‘The FTSE 100 will fall 20pc, then I’ll buy’

    http://www.telegraph.co.uk/finance/personalfinance/investing/11463661/The-FTSE-100-will-fall-20pc-then-Ill-buy.html

      Mar 13, 2015 13:10 AM

      “It will fall 20%” was a mantra among analysts in early 2000 before the Nasdaq crashed by about 75%. In bubbles, markets do not correct by 20%, unless they are going to new highs before the real crash comes later. If this is a bubble, the market will crash. The FTSE cannot get to a new high properly but if it does maybe it will do what the DAX and S&P 500 have done. It would be interesting if the FTSE breaks down – it might mean that the breakouts in the Dow and the DAX would be false.

    Mar 12, 2015 12:46 AM

    THE USDX HIT THE 100 MARK OVERNIGHT, and if this continues this will not be good for CHINA……………expect a DEPEG from the DOLLAR in the future, there are so many BLACK SWANS in our sites that everything MARTIN ARMSTRONG said about the COLLAPSE starting this FALL looks to be TRUE. JUST LOOK AT THE EURO………..what do you think ALL OF THIS is going to look like 6 MONTHS FROM NOW !!!

      Mar 12, 2015 12:49 AM

      I have had the 100-102 level targeted for a few months for the dollar as where it would run into resistance and do a short term correction. This will coincide with the Euro bottoming, and should give the PMs a brief pop. It will be interesting to see if last night was the top, or if the dollar will try to get up to the 101-102 range and then roll over.

        Mar 12, 2015 12:02 AM

        OH it will get to 102 and more……….stay tuned it wont be long.

          Mar 12, 2015 12:05 AM

          For sure. I just meant on the short term, that I had targeted 100-102 as the resistance zone for the dollar in Dec/Jan and have been waiting for it to hit that and retreat. After that I think it will go quite a bit higher before topping in May or maybe June.

          Just a short term correction for a week or two is all I am looking for, so I can play the run up in metals.

            Mar 12, 2015 12:07 AM

            WHEN CHINA DEPEGS, you will really see a run up in GOLD!

            Mar 12, 2015 12:13 AM

            That will be like Swiss to the third power!

        Mar 12, 2015 12:22 PM

        Shad,

        It will be fraught with much garnishing of teeth and disbelief, but,

        The dollar will test 102, and then take rest.

        Next stop for the dollar is 105-106, and then it will take another rest or short back-test.

        If 106 is taken out on strength your likely next stop is a 110 handle. If 110 is achieved then world leaders will very likely be under extreme pressure to admit publically that sovereign debt defaults are taking place and cannot be stopped, as well cascading unserviceable interest rate derivative contract payouts being triggered and cannot be contained or services.

        The grand “Black Swan” is right in front of everyone’s face. It is the US Dollar itself. Not war, not goofy 7 year cycles, not Obozo and Putin fighting in the school yard and not 1000 other possible worldly triggers.

        If the dollar becomes so parabolic that it powers to 110, there is nothing to stop its upward thrust to the old highs of 120 in a complete world wide bankruptcy panic into false perceived safety of the last man standing which is US Treasuries and US markets.

          Mar 12, 2015 12:18 PM

          I tend to agree Vortex. When I started saying at the end of last year that the dollar would test the 100-102 support zone in the spring of 2015 people kept saying it wouldn’t even get to past 96, then it wouldn’t get past 98, and now it hit 100 last night. We are very close to where I would expect a pullback, and it will coincide with Euro/Loonie/Aussie bounce.

          Then after about a month of grinding sideways, I do expect the dollar to target the 108-110 zone as a final blow off top in May/June. At that point, I completely agree that the bankers will need to explain to the world what a mess has been created, and that the emperor is wearing no clothes.

            Mar 12, 2015 12:42 PM

            P.S. – Vortex, I think you meant Gnashing of teeth not Garnishing of teeth : – )

            I’ll take cilantro or parsley as garnish, but not actual teeth.

            Mar 12, 2015 12:14 PM

            Good catch Shad. I’ll eat a little garnish with that crow. 😉

            Thanks

            Mar 13, 2015 13:40 AM

            funny Vortex!

          Mar 13, 2015 13:10 AM

          Did anyone here ever follow the site NotQuant? I enjoyed reading the articles, then suddenly in July no more new stories appeared. This article about the dollar back in July was a great read:
          http://notquant.com/will-there-be-an-epic-final-dollar-rally/

      Mar 12, 2015 12:53 AM

      The problem of USD is its selection as the composite. It is >50% euro. It does not even include the second largest economy. Both Eurozone and Japan have problems. This makes USD looks strong.

        Mar 12, 2015 12:00 AM

        Agreed Lawrence. China needs to be in the mix. With the Euro and Yen coughing and wheezing it makes the Dollar more inflated in value, and they are both disasters. The rate cuts in many countries like Canada and Australia and 15 other countries in 2014 strengthened the dollar even further.

        However, the US debt load will eventually come home to roost when countries like China, Russia, Brazil, India, Thailand, Vietnam, and the Middle East pressure the US into dealing with it. Also, the debt load prevents the Fed from raising interest rates in a “meaningful” way. I don’t think a 25 or 50 point raise in rates is anything to worry about. Eventually, our debt could be downgraded, and the BRICS may pressure the dollar.

          Mar 12, 2015 12:02 AM

          In the short-term, the dollar is getting a bit frothy and needs a smack-down for a week or two.

          Mar 12, 2015 12:05 AM

          LIKE I SAID………..so many black swans ahead.

            Mar 12, 2015 12:12 AM

            Absolutely. The late summer will surprise and be anything but doldrums this year as the dollar will top, so big financial disaster will surface from the oil marketplace, bank losses on the oil patch, and multi-national losses from the currency imbalance doing business overseas (June/July/August).

            Then in Sept/Oct I think we get the 20-25% correction in the conventional markets (Dow, Nasdaq, S&P, Russell 2000).

            Black Swans are typically events that surprise the marketplace, and I would find it odd if any of these scenarios are a surprise, but the news event they attach as the reasoning will be the “surprise” that makes them a Black Swan. It will just be the excuse needed for the technical levels to play out.

      Mar 12, 2015 12:35 AM

      Rise of US Dollar would hurt US the most. US already suffers from huge trade deficit and exit of industry. Strong dollar will make it worse. I am curious that how can a few hundred billion dollar deficit can last for decades. There must be a limit how bad it can be, In a long run a pure consumer society will crater. For China, Yuan follows the dollar so it makes the export more expensive but at same time import of raw materials are much cheaper than before. Overall China’s trade surplus hits new highs. On the current stage, no exporter can compete with China on the scale and price yet. So for China it may mean reduction of surplus and but for US it means destruction of industry, as long as it does not last very long.

        Mar 12, 2015 12:03 AM

        Great points Lawrence. It is mind-boggling that things have continued like this as long as they have with record debt and trade deficits. It’s a wild world out there!

      Mar 12, 2015 12:02 PM

      I don’t know how old your are Mark, but let me tell you in the last 60 years or so I have never seen as many indications (black swans) for tumultuous times as I have seen in just the last few years.

      Really makes a person stop and think!

        Mar 12, 2015 12:58 PM

        THEY’RE EVERYWHERE…………that’s how you know that we are getting CLOSE TO THE END!

    CFS
    Mar 12, 2015 12:14 AM

    Never forget Keynes was a socialist/Marxist and that Marxist states have never worked.
    In other words KEYNES WAS WRONG.

    http://sprottglobal.com/thoughts/articles/common-citizen-new-businesses-get-no-help-from-false-notions-dr-mark-skousen/

    Keynesian economics is wrong and always will be wrong.
    Just my opinion, or maybe not just my opinion.

      Mar 12, 2015 12:04 PM

      No Professor, not just your opinion!

    Mar 12, 2015 12:16 AM

    It’s funny that $USD rallied 14% since gold bottomed on November 7th yet gold is still up, not down.

      Mar 12, 2015 12:18 AM

      Great point Matthew.

        Mar 12, 2015 12:20 AM

        Part of the reason is that from Nov – Jan that Gold and the US dollar moved up in tandem and broke the normal inverse correlation.

      Mar 12, 2015 12:32 AM

      I was thinking the same thing this morning. There is far less correlation between the US$ and gold than most people think.

        Mar 12, 2015 12:41 AM

        It seems that when the US $ and Gold are moving in tandem, it is when they are both acting as “Safe Havens.” When they are normally correlated inversely, it is because that is when Gold is an insurance from currency debasement & central bank madness.

        At present, the safe have demand is down, so the narrative has returned to Gold as a store of value during the currency wars. In the absence of a War or Disaster, then it is most likely that Gold and the Dollar will trade inversely over the short to mid-term.

      Mar 12, 2015 12:05 PM

      The key word of late is resilience!

    CFS
    Mar 12, 2015 12:17 AM

    The problem with socialism is that sooner or later you run out of other people’s money.

    WE DID.

    So now we print it, but while the public is fooled for a while that will not last.

    CFS
    Mar 12, 2015 12:21 AM

    In many dying thingd including empires, just before the collapse there is extreme volatility.
    There’s even a name for it:
    “The Death Throws”

      Mar 12, 2015 12:27 AM

      Time for your book CFS – “The Death Throws”. #1 Bestseller!

        Mar 12, 2015 12:07 PM

        Speaking of books, our discussion group is current reading James Bovard’ “Public Policy Hooligan”.

        Funny and a lot of interesting points!

          Mar 12, 2015 12:40 PM

          I’ll check into it. Always interested in a different perspective. Thanks Al !

      Mar 12, 2015 12:06 PM

      Good point, Professor!

      Mar 12, 2015 12:27 PM

      And death throes…

    CFS
    Mar 12, 2015 12:22 AM

    thingd = things…….just my typing ….. thick thingers.

      Mar 12, 2015 12:35 AM

      Hey CFS…..did you see this story? Kind of blew my mind when I first read it as the idea initially seemed so improbable. But turns out it is true….Egypt is shutting down 27,000 Mosques and licensing the Immams who must not be permitted to spread dissent. Must be part of controlling the Islamic Brotherhood and other extremists who used Mosques as the hotbed of recruitment.

      Egypt closes 27,000 places of worship — Almonitor – Egypt Pulse, March 2015
      http://www.al-monitor.com/pulse/originals/2015/03/egypt-endowments-decision-close-worship-places.html#

        CFS
        Mar 12, 2015 12:43 AM

        Unfortunately, Bird, that won’t work….merely drives subversive elements more underground and slightly slows recruitment.

        CFS
        Mar 12, 2015 12:12 AM

        Bird, I had not seen your cite, but heard about it via USA Watchdog:
        http://usawatchdog.com/we-are-headed-for-war-because-there-is-no-truth-warren-pollock/

        The equivalent to closing mosques in Egypt, is in the US controlling the internet…..
        which may be about to happen.

          Mar 12, 2015 12:52 AM

          That’s actually a good analogy bb. In North America we are more solitary and spend a huge amount of our time online or surfing the web to keep in touch whereas in places like Egypt it is face to face contact and congregating with peers to get news and ideas.

          This particular story was obviously a lot bigger over here than in the US but it is interesting it was picked up in your neck of the woods nonetheless. Can you imagine though….a headline in the US that read “Obama closes 27,000 Churches to end dissent!”.

          That would be a WOW moment and yet the same fact passes in Egypt with not much objection. This is a classic case of controlling people through limits to their rights to assembly.

          Did you know they have also closed all their major soccer stadiums, ostensibly as a result of rioting and stampedes? The Premier league will now only play to empty seats for TV viewing after 20 people died when police hurled tear gas into waiting crowds and a stampede erupted. Hmmmm…..was that an accident created to end public sporting assembly?

          Egypt soccer league to restart matches, but without fans
          http://www.washingtonpost.com/sports/dcunited/egypt-soccer-league-to-restart-matches-but-without-fans/2015/02/25/86f6c9a2-bce1-11e4-9dfb-03366e719af8_story.html

          You know there is a lot of odd news in the Middle East lately. Another big story is that Saudi is expelling as many as a million foreign workers from its country. They say it is because their own citizens need jobs however I have my doubts because this is happening in conjunction with a major beefing up of their border control and the biggest arms purchases in the world today.

          I think these things are all linked and they are trying to reduce possible internal unrest in advance of……well in advance of what? That’s the part we can only guess at but it is peculiar they would be suddenly making such major moves all at once.

          You figure they know something we don’t?

            Mar 12, 2015 12:13 PM

            Do you happen to read Strator?

            Interesting commentary that Chris Temple turned me on to about six months ago.

            Mar 12, 2015 12:31 PM

            Sure Al, I do from time to time.

        Mar 12, 2015 12:09 PM

        Thanks Bird,

        I did not see that earlier.

    Mar 12, 2015 12:11 PM

    Averaged down on NUGT today. WAY over-sold so I am getting in while it’s bouncing off the bottom splattering blood all over. lol

      Mar 12, 2015 12:43 PM

      wow – splattering blood all over….what a mental picture.

      It may be good for a short term 1-2 week pop in the PMs Jason if the Euro & Loonie bottom and the dollar tops. Good luck!

    Mar 12, 2015 12:27 PM

    Based on the POG interaction with the Fibonacci arcs, tomorrow would be a good time to test 1130.
    http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=8&dy=0&id=p50081017579&a=369193490

      Mar 12, 2015 12:26 PM

      Well Matthew, I guess I am outnumbered between you and Glen. You both feel tomorrow could be the big down day where we test 1130. Glen felt today was a headfake and that the dollar may go higher, the Euro/loonie/gold lower tomorrow.

      I am open to that playing out, and again, it would be better for gold to test 1130 tomorrow because I believe it would bounce off that Nov low. However, I feel it is more likely we will save the test of 1130 until after a 1-2 week pop in the PMs.

      You never know what is going to happen as the last few weeks have been brutal in the pre-market sessions. If gold fell to test 1130 in the premarket, then that would be a wildcard, because it could continue down once the markets open, or bounce up as the markets open. Tomorrow will be interesting to see what levels are hit.

      P.S. – Nice chart btw.

        Mar 12, 2015 12:46 PM

        Now Bob UK feels tomorrow will be a big down day on the other blog. It may be time to deploy some dry powder tomorrow if that is the case. Heck, it may be time to deploy some dry powder tomorrow if it is an up day as well, because then I think we’d have confirmation that we’re in the dollar correction zone for a week or two.

          Mar 12, 2015 12:48 PM

          I think yesterday might be a good time to buy. 🙂 😉

            Mar 12, 2015 12:01 PM

            Well, I’ve been in wait and see mode, and don’t feel I missed any big opportunities, but you may be right. However, if tomorrow is projected to be a big down day, then that is when I’d rather buy. I just feel naked without few good gold and silver stocks, and have been overly focused on the Palladium and Platinum stocks the last few months.

            Mar 12, 2015 12:19 PM

            You could get a very good deal, but gold could also be finished falling before stocks start trading. The miners looked a lot better than gold today, that’s for sure. I’ll be happy with either outcome so good luck!

          Mar 12, 2015 12:49 PM

          basically I am going shopping tomorrow for a few quality stocks that may do well in brief upturn for PMs while the currencies do their thing. I just feel something brewing.

            Mar 12, 2015 12:30 PM

            Shad,

            For what its worth, a well known long-term gold bull who has been bearish recently, and a person who everyone here hates just closed out his short position on GLD and has turned slightly bullish.

            He expects we are in for a bounce, but gave no specific numbers or targets. I’m thinking maybe a pop in the area of $1200 – $1220 if we get some nice momentum players to come in.
            I’ll be nibbling on a favorite or two that have huge leveraged swings both up and down with excellent liquidity.

            Just some food for thought.

            Mar 13, 2015 13:44 AM

            Thanks Vortex. Yes it seems like we are due for a short leg up in the miners and metals prices for a breather. There are a few stocks I am eyeing that have come off some since January, and may be a good short term trade.

            Best to you.

    Mar 12, 2015 12:37 PM
    Mar 12, 2015 12:58 PM

    Silver continues to act better than gold. It found some Schiff fork support this week:
    http://stockcharts.com/h-sc/ui?s=$SILVER&p=W&yr=4&mn=11&dy=0&id=p67052208027&a=398349731

    Mar 12, 2015 12:54 PM

    Good charts on Alexco Matthew. What is your take on them – Bankrupt, takeover, or will it rebound with the rest of the sector?

      Mar 12, 2015 12:07 PM

      I think yesterday’s huge rebound was just shorts competing for shares with people like me who wanted to grab what they could near 0.2x book.
      I would be much more concerned about the terms of a coming (and inevitable) financing than bankruptcy. It’s a risk I’m willing to take because I think it can rise sharply before one is announced. Management has been smart in the past when it comes to timing them. They raised about $30M at $8 when it was doing well. Too many companies finance when they have to rather than when it’s best to.

        Mar 13, 2015 13:49 AM

        Good thoughts Matthew. It is one I have been watching for a while, but I had not seen that spike down and rally back up this week until you and some others pointed it out. I am going to keep an eye on it and may start a small position in it, but many silver miners are way down (Great Panther, Aurcana, Scorpio Silver, Endeavour Silver, Fortuna Silver). Hecla is probably still my favorite, but it has held up better.

          Mar 13, 2015 13:20 AM

          I have noticed that someone bombs Scorpio at the end of most days. Volume has come down significantly as the sellers from the merger dry up. I own some.

            Mar 13, 2015 13:05 AM

            Yes, I have noticed that Dan, and think a great deal of what happened recently was people selling that were part of the merger with US Silver and Gold. It is fairly typical that the company taking over another suffers a little in share price when a merger is announced and implemented, but that is mostly over now and they have a lower share price with even a better asset base and picked up another mine.

            I do have a position in Scorpio (around $.19) that is just a little underwater since the merger. I was actually thinking of adding to that position just to average down a bit, because once the silver price recovers some they should be set up for a nice bounce. What has been helping them lately are their base metal credits.

            I like Scorpio and don’t think they’ve been properly valued and went down with the sector, but hey, almost everything in the silver mining space is way undervalued. Just look at Endeavour or Aurcana or Great Panther.

            Mar 13, 2015 13:16 AM

            Thanks Shad, I like Scorpio also and have owned them for 10 years off and on. I have seen them this low before and they have come back each time. I am in at about .21 so I may average down a bit too. I think the merger is a great deal for Scorpio and will be patient with this one.

            Mar 13, 2015 13:48 AM

            Agreed Dan. I have owned them since 2010 and it has been a wild ride, but they usually deliver close to the guidance, have improved things every year, have lowered their costs, and with the merger now have more stability.

            I could also see them getting taken out by a larger Gold, Silver, or even Base Metals producer at one point down the road.

          Mar 13, 2015 13:22 AM

          I don’t know much about Hecla, but after taking out a decent gold miner in Quebec called Aurizon, they appear to be hedged for the current environment.
          Silver does appear to be bottoming vs gold:
          http://stockcharts.com/h-sc/ui?s=SIVR:SGOL&p=D&yr=0&mn=11&dy=22&id=p74666441044&a=389406012&listNum=1

            Mar 13, 2015 13:57 AM

            Yes, I was a huge fan of Aurizon and they had some amazing properties a number of joint ventures. They pulled a Jaguar mining episode and their price spiraled down too far, they got in over their heads and Hecla took them over (with minimal fanfare or news). That was an amazing acquisition that nobody seemed to notice or care about. Hecla will be sitting pretty for years based on that, and have done a lot to reduce costs at their primary mines. They are solid, and way undervalued at present.

            Mar 13, 2015 13:01 AM

            I used to own Aurizon too. Hecla has continued the JV with Typhoon so I’m happy about that.

            Mar 13, 2015 13:09 AM

            Yes, I still hold a small position in Typhoon that has done nothing in years, with thought that Aurizon would buy them out. Now it is the same plan on waiting for Hecla to buy them out. Hecla has a great deal of new acquisitions from Aurizon to sort through, so I don’t expect that anytime soon, but they’ve had some interesting drill results over the years on that Fayolle property.

            Mar 13, 2015 13:22 AM

            It did pop to .27 last year from a low of .06, I believe. It has serious “optionality” so market sentiment has a huge impact on how (or if!) it trades.

            Mar 13, 2015 13:54 AM

            Yes I and Typhoon has those other JV projects that have potential beyond Fayolle. I figured Agnico-Eagle could be plan B for a takeover. Lastly, they could also sell some of the 100% owned projects off to raise capital, so I see them as able to survive the rough marketplace.

            From their website:

            “Typhoon Exploration Inc. has important interests, these properties are Faille 1 (100% Typhoon Exploration Inc.), Aiguebelle-Goldfields (51% Typhoon Exploration Inc. / 49% Agnico-Eagle Mines Ltd.) and Destorbelle (50% Typhoon Exploration Inc. / 50% Axe Exploration Inc.).

            Typhoon Exploration Inc. also owns the Nordair Property (100% Typhoon Exploration Inc.), located in James Bay, in the heart of the Plan Nord territory and Monexco (100% Typhoon Exploration Inc.), a property with a diversified potential (gold and base metals), located in the Chibougamau mining camp and also on the Plan Nord territory.”

            Mar 13, 2015 13:26 AM

            The jury is still out for me on Palladium, and I follow it every day and have for years. Personally, I have made more money trading in and out of Palladium & Platinum stocks over the last few years than Gold or Silver.

            2014 was a wild year up until August, but luckily I missed most of the giant pull back in late Aug-Sept. I got back in and rode it back up through year end.

            In 2015, when it took a nosedive down to close at 754 (intra-day 747) in January it got my attention. I think we actually were discussing it on the blog back in Jan and I stated that since it bounced off the support levels targeted, that I felt it would rebound hard and get back over 800. That is exactly what it did.

            Palladium has a pattern of higher lows and higher highs, which is still bullish in my opinion. The low of 754 on Jan 19th was higher than the previous two lows of 751 on Oct 17th, and 753 on Oct 3rd. The recent high of 826 on March 2-3rd, was higher than the odd triple top Palladium put in at 812 on Dec 12th, 815 on Dec 26th, and 814 on Jan 13.

            It has been a wild ride, but with higher highs and higher lows, and much of Europe starting to convert from diesel to gas, then Palladium is gaining in importance over platinum. Also China is using mostly gas powered cars putting more demand into the Palladium space.

            As far as it’s relationship to Silver – I don’t know. I usually group silver in with Gold, and keep Platinum, Palladium, and Rhodium as the PGM group doing their own thing. The PGM group is really quirky, because sometimes it travels with Gold and Silver, sometimes with the base metals, and sometimes it is non-correlated to any of the metals. Auto sales, supply deficits, Russia, and South Africa can be big movers in the space, which is unlike Gold or Silver.
            I think we discussed this bac

            Mar 13, 2015 13:38 AM

            Matthew, since you are the chart master : – )

            Do you have a way of charting what $10,000 invested in Palladium versus $10,000 invested in Silver would have done over the last 5 years?

            When the charts are commodity x commodity in a combined line it is more confusing to my feeble mind. If I can see the $10,000 and how it changed over 5 years in one color, versus the how the $10,000 in the other commodity changed over the 5 years in a separate color, it makes more sense to me.

            Mar 13, 2015 13:51 AM

            I can tell you that palladium is 80% since March, 2010 and that silver is down more than 6% for the same period. So $10,000 in palladium would be $18,000 and $10,000 in silver would be about $9,400. 😮

            Palladium has obviously been stronger lately and might continue to be, but silver looks a lot less like to deliver a surprising plunge at this point, imo.

            Mar 13, 2015 13:44 AM

            Good thoughts Matthew and thanks for the response. I guess that was very simple way of doing it, but I was hoping there was a way to see the movements of the chart patterns super-imposed on top of each other to look for correlations.

            Yes, I think Silver has been punished a great deal and has more upside potential and less downside potential. Palladium has just been marching to the beat of its own drummer and there are some interesting advanced exploration plays that may benefit if it can stay in an upward drifting range.

            Mar 13, 2015 13:15 AM

            I see, you meant something like this:
            http://stockcharts.com/h-sc/ui?s=$PALL&p=W&st=2010-02-13&en=today&id=p70369419070
            You can see on the left of the chart that silver went up over 200% but is now down .70% (since Feb.2010) and that palladium is up 88% right now.

            Mar 13, 2015 13:17 AM

            Notice that the two used to be correlated? Whether silver falls less or rises more, I expect it to outperform.

            Mar 13, 2015 13:29 PM

            Yes, that is exactly what I was hoping our Chart guru could find. I saw where they used to be more correlated in 2011-2012 and then actually moved in different directions, but then got synched up from Mar-Oct of last year, and now are moving inversely. I guess what I learned is that there is no real correlation between Silver & Palladium, and that is why it is a good idea to have both in your portfolio.

            Again, I think Silver has a much better chance at a larger percentage increase, and Palladium could fall more. However, the fundamentals for Palladium have been strong the last few year and I expect that to continue into 2017.

            Thanks Matt, I wish I was as fast as you at creating charts. You da man!

    Mar 12, 2015 12:22 PM

    The people over at SeekingAlfalfa don’t seem to be worried about the markets these days…
    https://sp.yimg.com/ib/th?id=HN.608029054483039195&pid=15.1&P=0

      Mar 13, 2015 13:27 AM

      I had an Alfalfa hair event yesterday morning

        Mar 13, 2015 13:00 AM

        lol 🙂

    Mar 12, 2015 12:53 PM

    For those who own Claude on the TSX, here’s a picture of power:
    http://stockcharts.com/h-sc/ui?s=CRJ.TO&p=D&yr=0&mn=9&dy=0&id=p11281628891&a=390636292

    Mar 12, 2015 12:59 PM

    For those with a subscription, the monthly chart looks great:
    http://stockcharts.com/h-sc/ui?s=CRJ.TO&p=M&yr=6&mn=5&dy=28&id=p76733702005&a=397216759

    Mar 12, 2015 12:01 PM

    I think two years of this CRJ weekly chart will be cut off for non-subscribers:
    http://stockcharts.com/h-sc/ui?s=CRJ.TO&p=W&yr=5&mn=3&dy=0&id=p15102886333&a=373914878

    Mar 12, 2015 12:19 PM

    The Federal Reserve in it’s policies to control the economy has brought about major changes in the make up of American society. It is now a country of different values brought about by the multitude of foreigners from non traditional parts of the world. I read today that one school in New Hampshire hosts foreign born people that speak 85 different dialects. Who know where this will lead but it is a significant sign of lasting change to the American way of life.

    Mar 13, 2015 13:52 AM

    ALL GOLD IS FOOL’S GOLD.

    Mar 13, 2015 13:42 AM

    I picked up more SGDM at 16.30.

      Mar 13, 2015 13:39 AM

      Probably a wise move sir.

      Mar 13, 2015 13:53 AM

      I bought several juniors too and sold a little more Claude at .4510 U.S. and will sell more.

        Mar 13, 2015 13:55 AM

        Btw, .4510 is the high so far 🙂

          Mar 13, 2015 13:30 PM

          It hit $.47 today. Claude is on fire lately. Now I feel like a real dummy for selling at $.41 but I had a huge gain and wanted to deploy those funds elsewhere. I had also been averaging down to $.28 over a 3 year period, and just wanted out while I was above water. Normally I leave one tier in place in case an equity really takes off, but I thought with the lower gold prices the last 2 weeks that Claude would come back some. Nope….it has been rocking and it is a well deserved re-rating and I am excited that so many on here are getting interested in it from the newsletter and Doc/Al/Cory’s endorsement. I knew it’s day would come.

          I’ll be waiting for a spring pullback, because I don’t want to chase it higher, but it looks like it could still run up above $.50 if PMs turn up after the FOMC meeting next week.

            Mar 13, 2015 13:19 PM

            My highest fill today was .4686 but my average was .455 —and I still have plenty more to sell.
            To me, it is an extremely good sign that it has stayed so well bid even though it was already very overbought as the sector went into the worst part of its recent decline.

    Mar 13, 2015 13:13 AM

    I don’t own any Argonaut now but it is oversold IMHO and could finish bottoming soon.

    http://stockcharts.com/h-sc/ui?s=AR.TO

      Mar 13, 2015 13:28 AM

      I also don’t own it right now but It looks very appealing. Do you happen to know of anything negative about it, because it looks like a bargain on paper.

        Mar 13, 2015 13:32 AM

        I don’t know of anything new. Short position was 9% in Nov. and now it is 6% as of the end of Feb.

          Mar 13, 2015 13:41 AM

          Thanks, I’m looking at their website now. They have a lot of exposure to silver, maybe that’s what’s holding the stock back. I just might have to buy some.

      Mar 13, 2015 13:28 AM

      I have been watching Argonaut for year now, and I think it is a great buy. It is on my short list of companies I will be taking positions in later this spring. It went up too fast, and came down twice as hard as things tanked. Still it is a great value.

        Mar 13, 2015 13:54 AM

        Thanks Shad, I just bought some at 1.42 and will buy more.

          Mar 13, 2015 13:01 AM

          I nibbled too.

            Mar 13, 2015 13:12 AM

            Thanks again Dan. I think you were the one that first brought it up when I had a good trade with it awhile back. I will happily buy more if it goes lower.