Slurry Al and Gary discuss the markets.
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Good interview, I wonder how high these markets can actually go, there is a lot of money out there and as Al says, MR/Ms America could be getting involved too.
I think this is going to be a key week for both conventionals and for gold/silver.
I think the precious metals will fall quite a bit this week. Whether it will be, as Gary says, a short term thing before going back up I don’t know. As for conventionals, I would like to say that it is about to top out and give us a correction but, gee, we have been waiting a while now for such a correction.
Hope no one has been holding their breath.
I agree that this is going to be a key week to see what support or resistance levels get tested in Gold to see if it will push higher into mid-April, or keep correcting down into it’s daily cycle low as Gary highlighted.
As for the Conventional stock market, it is really just been stuck in a range, which has many postulating it is putting in a topping pattern. I just don’t believe we’ve put in the blow off top needed for the 7 year bull to be over, but feel we get it this year (September time frame).
One thing I am watching is the Russell 2000 and the small cap stocks blaze higher and if this accelerates further, then we are getting close. The indicator will be when the Russell 2000 goes parabolic, and corrects first, then the Dow, S&P, and Nasdaq will follow with a 20% correction.
What do you think about Doc’s 2016 timeframe. I happen to agree with it.
I think we get at least a 15% but maybe up to 20-25% correction in the general markets later this year, but could see an even bigger correction in the global stock markets in 2016, so I agree that could be “the big one”.
I will ask you the same question, what do you think about Doc’s 2016 timeframe?
Big Al, I didn’t realize about your stroke. God bless you, sir, and your family. I am glad to hear that you on the road to recovery. I had a head trauma brain bleed and know brain things are quite scary, but patience is the most important thing with head recoveries. Prayers out to you!
Thank you very much Wiseguy. Your comments do prove that you are wise!
When I was 3 1/2 years old I fell out of the second story of my parents house when my mom was cleaning windows, and luckily hit my dads car headfirst on the way down (which broke the fall more than if I had hit the driveway headfirst).
I was supposed to be paralyzed for life, and couldn’t walk or speak for a while, but the body is amazing at healing, and now you can’t shut me up!
Maybe all these head injuries are why we think outside of the box 🙂
I can relate to that Shad. I fractured my skull when I was a kid by diving head first into a shallow swimming pool. Blood everywhere. I had agonizing headaches for ages. But what the heck…I survived that one and then a few more near misses since then. You know, the usual. Head on collisions, falls of rock faces. Like Gary, I used to climb when I was younger. But that first dive into the pool was the WORST! A friend of mine made the same mistake and he was paralyzed for life. Sits in a wheelchair to this very day. Guess it is just the luck of the draw that some of us escaped the worst outcomes.
Yep, I am noticing a trend here on this site. We are all damaged in the heads!!
Literally and metaphorically.
It was just a matter of time before we traded head injury stories!
I am starting to truly realize what “the luck of the draw” means to me!
Kind of interesting isn’t it Al. When we look back at all the people that have gone before us. Many in the prime of life and totally unexpected. Only by the Grace of God some of us are still here to reflect back on it. I know for me it is a miracle I am still here. Dodged more bullets than most I suspect.
I would bet that I have a couple on you!
CFS is right! Mandalay MND.TO is a good buy at these prices….there is a $1.25 target on it. Not sayin when just it’s a good buy.
Yes I am looking into Mandalay now that CFS mentioned it on Friday in Gary’s Blog.
Here was that thread for anyone interested in Silver miner chat:
On April 10, 2015 at 10:04 am,
CFS says:
My belief is Mandalay MND.TO is the best (mostly) silver miner.
Rarely mentioned on Kereport, but look it up.
On April 10, 2015 at 10:08 am,
CFS says:
I do not believe silver miners are due to rally significantly in the near term, however.
On April 10, 2015 at 3:15 pm,
Shad says:
I am not familiar with Mandalay CFS, so thanks for the recommendation.
Brian, here are my top picks for silver companies:
Hecla, Endeavour, Fortuna, Great Panther, Silver Wheaton, Sierra Metals, Scorpio, and when things stabalize in the price more then I also like McEwen, Santacruz, Silivercrest, and I still own a little Aurcana and hope their problems are behind them.
On April 10, 2015 at 3:19 pm,
Shad says:
Many of those have operations or properties in Mexico, because it is one of the best places in the world for Silver mining. Hard to escape some exposure to Mexico if you like silver mining. Even the majors like Coeur, Pan American Silver, and Silver Standard Resources have a balance in different areas, but some exposure to Mexico.
On April 10, 2015 at 5:46 pm,
CFS says:
Amazingly…..off the top of my head even SLW is not nearly as profitable as Mandalay.
In general I like all the streaming and royalty companies.
On April 12, 2015 at 9:32 pm,
Shad says:
I went and checked out Mandalay is in interesting jurisdictions, and is produced 154,810 “Gold equivalent” ounces for 2014. A big piece of that was in Silver, and they also have an Antimony credit, and another gold/copper exploration project. I didn’t have time to check out their cost of production and financials at this point.
Yes, I love the streaming companies as well and like the new Sprott Gold ETF (SGDM) because of the heavy weighting towards Franco Nevada, Royal Gold, and Silver Wheaton. They are not dependent on just 1 or 2 projects but have their assets spread out over the streaming agreements or royalty NSR with 50-100 projects each = much more stable.
Thanks guys. Time to check it out.
Gary….check out rough Rice. It has been in a nosedive most of 2014. (Best seen on a long term chart). Anyway, it now has a destiny with its old 2010 lows so its worth keeping an eye on for the coming weeks. I will try to link the chart I am using below and hopefully what I am seeing will show properly.
Rough Rice — Latest Price & Chart for Rough Rice – NASDAQ
http://www.nasdaq.com/markets/rice.aspx?timeframe=6y
And you just knew that this was coming next:
China to Face Rice Shortage in 2015 Following Disasters: Official
http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20110124000053&cid=1102
Bird, sill no rice focused etf s as far as I can see. Stuck with futures or do you have any other suggestions re this sector? Cheers
Jay, had you clicked through on Bird’s topmost [of 2] links above [the nasdaq link, not the wantchinatimes link], you’d have seen, directly below the rice chart on the nasdq site, the following :
Rice Related ETFs:* RJA [ http://www.nasdaq.com/symbol/rja ]
*This ETF includes farm commodity products, including Rice.
—LFP
LFP, Cheers!
Thanks LFP. Here is a 5 year chart on RJA. Notice it is also bottoming. I think this is worth putting on the radar.
http://finance.yahoo.com/echarts?s=RJA+Interactive#
Agnico,Alacer,Centerra, Detour, Endevour Silver, Fortuna Silver, Franco-Nevada, Guyana Goldfields, Kirkland Lake, Mag Silver, Mandaly, Nevsun, PAA and SLW all have pretty good charts….just waiting for the prices to move up. So many good plays on the table by so many of the Korelin folks!
That’s a healthy looking list of companies Confused. Good luck to you when the PM prices do rise.
There was a good press release out on the results from Fortuna Silver today:
Here is the link:
http://www.fortunasilver.com/s/news_releases.asp?ReportID=703563
🙂
I have been a strong supporter of the KER since I met Al & Cory at a Casey conference in the Fall of 2013, so take this following comment in the spirit intended. After reading all the comments this weekend I am concerned there are just toooo many off topic comments! I for one do not like to visit a PM,economic site that drifts off the subject matter very far. For me it’s time to “tighten up”.