Gary Savage – Tue 17 Mar, 2015

Tuesday Thoughts from Gary

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Al KorelinGary SavageCory Fleck

  1. On March 17, 2015 at 8:21 am,
    Matthew says:
    • On March 17, 2015 at 8:27 am,
      franky says:
      • On March 17, 2015 at 8:33 am,
        Matthew says:

        Nice! Bye bye!

      • On March 17, 2015 at 9:12 am,
        Dan, calgary says:
        • On March 17, 2015 at 10:17 am,
          Big Al says:

          Thanks man!

          • On March 17, 2015 at 10:41 am,
            Dan, calgary says:

            It’s in my iTunes library now too (;-)

    • On March 17, 2015 at 8:50 am,
      J........THE LONG..............OOTB says:

      VERY INTERESTING………….SOMEBODY with deep pockets….
      .getting ready for OPTION EXPIRY?

      • On March 17, 2015 at 8:51 am,
        J........THE LONG..............OOTB says:

        BTW ….thanks for posting Matthew………………………j

  2. On March 17, 2015 at 8:46 am,
    gabrielB says:

    Manipulation to the upside? YES!! When spec short level is extreme (like present), very simple for The Banks to squeeze them for fun and $$$

    • On March 17, 2015 at 9:49 am,
      Mark Alan says:


  3. On March 17, 2015 at 8:58 am,
    agatha Gisty says:

    Al- the why do you state we’re doing this for our friends at Kitco…..???

    • On March 17, 2015 at 9:08 am,
      franky says:

      Al Korelin has long standing relationship with KITCO and Roger and you remember John Nedler John always say GOLD wil drop ! from 2001 to 2013 John say GOLD wil DROP ! You remember ?

      • On March 17, 2015 at 10:27 am,
        Big Al says:

        Actually it is Jon and gold did drop!

        Which Roger are you referring to, Franky?

        • On March 17, 2015 at 10:38 am,
          franky says:

          AL ! You know Kitco is mainstream media controlled by government ! And almost all mining CIO’s of big companies !

    • On March 17, 2015 at 10:18 am,
      Big Al says:

      Cause some of them are friends!

      • On March 17, 2015 at 10:39 am,
        franky says:

        No problem for ME AL !

    • On March 17, 2015 at 3:55 pm,
      Shad says:

      Agatha, for years Al has had select daily commentaries posted on Kitco, so they have a friendly relationship. Many contributors post articles or audio on Kitco every week. Palisade Radio and Mickey Fulp also post their interviews on there most weeks and that doesn’t mean that they are sponsored or in bed with Kitco.

      Al’s website is not sponsored by Kitco and it is fairly obvious for any intelligent person who the sponsors are on this site. This is not a main-stream media conspiracy and Kitco is not out to get you.

      You have been beating on the anti-Kitco drum for a while now and keep thinking the speakers on this show, or Al have some ulterior motive in cahoots with Kitco. It is very tiring and if you don’t like Kitco or this site then go listen to someone else.

      I for one think Kitco has a range of charts, articles, company news releases, and stats all in one place. Overall they cover many different perspectives and interview some of the biggest pundits, economists, mining CEOs and analysts in the business, who know a heck of a lot more than most of the planet on the PM markets.

      Rather than constantly complaining on a daily basis or looking for the conspiracy with Kitco, why don’t you offer something of value on the blog (information or at least comedic relief).

      • On March 17, 2015 at 3:57 pm,
        Shad says:

        Many listeners and people on this blog found Al’s site through the links on Kitco, (me included), so it is a brilliant agreement to have links to this show from their webpage as it has been for years.

        Al keep up the great work and don’t let the haters get you down.

  4. On March 17, 2015 at 9:13 am,
    agatha Gisty says:

    Frank… why do you bother..??

  5. On March 17, 2015 at 9:20 am,
    Confuesed says:

    After prognosticating for 12 years John Nelder finally got it right. Goes to show you stick with something long enough……maybe this will eventually happen for us doom and gloomers:)

    • On March 17, 2015 at 9:55 am,
      Dick Tracy says:

      Nadler not Nelder!

      • On March 17, 2015 at 10:11 am,
        Birdman says:

        It’s OK, Confused is also spelling his own handle wrong.

        • On March 17, 2015 at 10:28 am,
          franky says:

          And the INFO John give’s 13 YEAR’s WRONG ?

          • On March 17, 2015 at 6:57 pm,
            Shad says:

            Yes Franky. For 2001-2011 he was wrong, and in 2012 and 2013 he was marginal because he was still bearish during the upswings in those years, and just remained a perma-bear that took glee in gold falling to an audience of gold bugs (not a popular reaction from people all those years).

            The Kitco commentaries are much more balanced now with Peter Hug and Jim Wyckoff, even though many on this site are not their fans either. I usually listen to what each of them say even if don’t always agree, but place a bit more stock in what Jim Wyckoff has to say about support and resistance levels.

    • On March 17, 2015 at 10:29 am,
      Big Al says:

      I think that there is a bit of a difference.

      We are talking about much more serious issues. These issues, I believe, cannot end well. Hope I am wrong.

    • On March 17, 2015 at 3:45 pm,
      Shad says:

      funny Confused. I used to listen to Jon Nadler every day on Kitco for years, and it would bother me how smug, arrogant, and so sure he was that gold was going to crash and burn all through 2009, 2010, 2011, and even in 2012 and 2013 when gold had started to correct, he took great joy and glee in this.

      He wasn’t a very impartial “analyst”, and say what you will about Peter Hug or Jim Wyckoff, but they are much more balanced in their approach and don’t have as much of an ax to grind as Jon did.

  6. On March 17, 2015 at 9:37 am,
    CFS says:

    On the Euro front, with a probable Greek default on Friday, I would expect high volatility until the situation is settled. Angela Merkel has clearly been targeted by the European press (for the most part composed of economic imbeciles) as the person to blame for not being more accommodating to Greek incompetence. I do not know if this is affecting the U.S. stock market, which seems to be driven by the whims of banks and hedge funds, backed by a Government that wants it higher regardless of fundamentals. I expect high volatility until a trend is firmly established.

    • On March 17, 2015 at 10:30 am,
      Big Al says:

      Great point, CFS

      • On March 17, 2015 at 4:06 pm,
        franky says:

        CFS ! Volatility is the new Norm ! The control freaks love dis computer game IDIOTS ! Day will kill dear children !

  7. On March 17, 2015 at 9:41 am,
    Derek says:

    Broke my unwritten rule – made a move based on fomc expectations. Sold half my UUP holding. Until this week it had seemed to me that market was expecting a June rate hike. With the action this week in Treasurys and dollar, seems to me the expectations might have changed to later. Decided to hedge a bit, which actually might be what the market is dong too. Had profits in UUP. Decided it a good thing to lock in some. 24 hours to go, and the markets will hang on every word Janet utters. Silly, but I guess one must play along.

  8. On March 17, 2015 at 9:45 am,
    Bob Moriarty says:

    “I think it is a truly scary time,” Andy Redleaf, CEO of Whitebox Advisors, said in an internal memo Sunday night obtained by

    Redleaf wrote that the stimulus used to put fresh money in markets could end poorly, just like loose credit standards in housing before 2007 crushed that market.

    “We do not know exactly where all the credit creation of this cycle has gone. Certainly money sits idly as excess reserves, but just as certainly money that would not exist but for unconventional monetary policy has distorted prices and resource allocation,”

    I’m not sure if there are any safe investments, all we are doing is playing the slots while waiting for the casino to catch fire and burn down.

    • On March 17, 2015 at 10:21 am,
      Birdman says:

      Agree with that conclusion Bob. This is an asset bubble every which way to Sunday. Stocks, bonds, land, yacht’s, artwork, antique cars, gemstones……. and it has seeped into every corner of the world as well including here in my part of Africa which has an astonishing housing and property bubble. I just shake my head in disbelief. You can’t even go to Africa of all places without encountering a bubble. My wife and I bought a condo as an investment. It has doubled in value even before we took possession and construction was complete. How bloody crazy is that!

      • On March 17, 2015 at 10:32 am,
        Big Al says:

        Shades of the real estate bubble over here, Bird!

        • On March 17, 2015 at 11:13 am,
          Birdman says:

          Indeed Al. All these things shall pass knowing what you and I know about how bubbles are created and how they end. I talk to locals here about it once in awhile. Tough crowd so I don’t push the point.

          They simply refuse to believe that prices will ever deflate.

          Showing them charts of parabolic prices rises does not move them at all. They think I am the crazy one. It’s just like it was before housing in the States busted an artery. People called guys like us alarmists for fretting over the bubbly nature of the R/E market and the crazy relaxation of lending standards in the US.

          So not much ever changes with human nature. Not here and not there. Its like they are all running a program or something. But it is the same program regardless of borders, language, religion or even education. Like an unseen code that we are born with.

          The majority of people seem unable to look ahead into the future and understand the consequences of their own herd behavior as long as prices are rising. I really wish I understood why its such a small minority that sense the danger and swim against the trend. There is more to this than just education.

    • On March 17, 2015 at 10:31 am,
      Big Al says:

      That final sentence, Robert J, is great!

  9. On March 17, 2015 at 10:14 am,
    Dick Tracy says:

    At least if you are playing the slots you win or lose immediately there is no waiting to get your money back, try folding your positions in the market now to take your money out, the wait time here in Canada is three days, that makes markets more dangerous then casinos.

    • On March 17, 2015 at 10:21 am,
      Bob Moriarty says:

      Perfectly true. Better odds, too.

  10. On March 17, 2015 at 10:24 am,
    Dick Tracy says:

    I find it interesting that a so called smart company like Apple has recently finished it’s headquarters in Cupertino California. You would think that they could see that the silicon valley will be renamed the sand oasis when California’s water supply runs out.

    • On March 17, 2015 at 10:33 am,
      Big Al says:

      I am hearing that it is getting quite serious down there Machine Gun!

      • On March 17, 2015 at 11:09 am,
        CFS says:

        The water situation in California is entirely due to left wing environmental nut cases who would rather see humans die above any snail, ant or fish.
        They have been decreasing water storage facilities and forcing water to be used for fish rather than meeting the needs of an increasing population of illegals and their offspring that they inflict on society by refusing to control the border.

        The quality of life is, in fact, being seriously degraded by the scum politicians and lack of planning for the future.

    • On March 17, 2015 at 7:02 pm,
      Shad says:

      Great point about the California water storage issue DT. Unfortunately, I think they’ll have rougher and rougher times ahead.

  11. On March 17, 2015 at 11:05 am,
    Paul L says:

    Economic data has been getting weaker leading up to the Fed meeting. I wonder if this is set up to give an excuse for delaying rate hikes and protecting the market.

  12. On March 17, 2015 at 2:55 pm,
    r scott hamilton says:

    I had the nerve to do it. Yes i shorted 500 shares of a mid size oil producer. the symbol begins with U thats all i am saying. and i shorted at 25.79 it closed at 25.50. i intend to put in a limit buy to close order at 23.50 . i normally never short. but this is so certain, tha oil goes lower here. How low ? maybe 40 or even 38 . i will look to cover in the next 60 days. i still own 4 oil royalty trusts and 2 producers . mostly i am in preferred stocks earning nice dividends . best of health and wealth to all S

    • On March 17, 2015 at 4:31 pm,
      Wiseguy says:

      You think GDP (Goodrich Petroleum) will survive this, R Scott?