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Welcome!

A focus on the moves in the US dollar and gold over the summer

June 9, 2015

A special for Kitco we chat about the slow downward move in the US dollar and related support for the precious metals. We then move into the gold:silver ratio that is now at just over 73:1.

Click download link to listen on this device: Download Show

Discussion
77 Comments
    Jun 09, 2015 09:33 AM

    Doc Fall of 2016 or 15.. ??

      Jun 09, 2015 09:28 PM

      Agatha, I believe we have a minor rebound this fall but the next bull to start no sooner than 2016. One of these weeks I plan on putting out some charts to outline why I think that way—-I may be wrong but we’ll see. I’ve felt that way for months and so far it’s working out that way. With the long term charts I attempt to work out most probably scenarios.

    Jun 09, 2015 09:34 AM

    I TOTALY AGREE ! Tank’s ! BOYS ! COOL IS THE WAY BUY BUY BUY !

    Jun 09, 2015 09:42 AM

    Doc as a chartist of 40 years please put up your chart that tells you the gold bull resumes from the fall of 2016, I’m all eyes!

    Jun 09, 2015 09:49 AM

    I understood Gary saying gold turn around in Fall 2015 late 2015 I thought Doc said the same with 2016 being the acceleration from the bottom consolidation in Fall 2015..

      Jun 09, 2015 09:57 AM

      Agreed. That’s the way it was laid out on many shows Agatha.

      Jun 09, 2015 09:30 PM

      That’s the way I see it—-as mentioned above I’ll put some charts up at the end of July if June and July do what I think they will. And I’ll mention then what will change my mind.

    Jun 09, 2015 09:02 AM

    Doc – I’ve been watching Yamana Gold (AUY) as well, but think some of the trouble that they got into was during thebidding wars where they finally partnered with Agnico Eagle to Complete Acquisition of Osisko Mining Corporation and the Canadian Malartic Mine. Right after that they’ve had their Argentine legal dispute around the construction of Cerro Moro project. As a result I’m not sure they are the best proxy for the whole gold industry, but I am definitely looking for a place to enter a position if it pulls back further.

      Jun 09, 2015 09:12 AM

      Doc – I think your previous tracking of Newmont Mining is probably a more fair representation of the quality gold miners (like Claude, Kirkland Lake, Guyana Goldfields, Detour gold, Pretium Resources, Primero, or Sandstorm).

      Honestly, the ETFs (GDX), (GDXJ), (SGDM), (SGDJ), and (TGLDX) are better proxies for the overall Gold mining industry as a average, over an individual stock.

        Jun 09, 2015 09:44 PM

        good point………………

          Jun 09, 2015 09:10 PM

          Thanks FFM…..Das Boot.

    Jun 09, 2015 09:23 AM

    Doc this trickle down for full year in gold would be terrible. I hope you’re wrong and we get final wash out with V spike upon hitting 1000 or so. This market is untradable and terrible to hold so what’s the point in bother unless it goes up or down. Hoping for quick resolution to this bear. I fen tired of this price action even watching it from side lines.

    Jun 09, 2015 09:57 AM

    Shad- if Im understanding correctly are you referring to docs yamana sentinel… versus Newmont…??Cause I think NEM is a more accurate sentinel…
    Stewie– thats NOT what Doc said or anyone else…

      Jun 09, 2015 09:04 PM

      Doc said gold will be slowing going down until fall of 2016 so yeah…..
      I don’t have anything against Doc’s opinion and I always respect it but I DO HOPE for everyone’s sake he’s incorrect hehe

        Jun 09, 2015 09:44 PM

        Stewie, I do too—-I just call them as I see them. I must admit though that trying to figure out the long term is more treacherous then short term where your chance of accuracy is much higher. I can remember last November when we had some that don’t post here too often saying it was time to board the train and I mentioned that I felt it wasn’t—I took a little grief for that and encouraged folks that there would be no hurry getting on the train since a nicer one with a better dining car was on its’ way. Well, that nice dining car is not that far off but you still have time to brush your teeth and comb your hair for dinner.

          Jun 09, 2015 09:00 PM

          You can dress him up but you can’t take him out! LOL

            Jun 09, 2015 09:14 PM

            DT; I’m sure Stewie will find that quite humorous.

            Jun 09, 2015 09:10 PM

            Funny DT. Good train analogy Doc and we still have time for grooming which is a plus.

      Jun 09, 2015 09:29 PM

      Yes Agatha. That was what I was referring to above. I feel Yamana had abnormal market issues with the drawn out battle for Osisko Mining, then the Argentina Cerro Moro project litigation, and as a result their stock was hit harder than most.

      I also feel the Newmont is a much better sentinel stock to track, and Doc used to post that he used it as a leading “canary in the coal mine”.

      My point is that if people want proxies for the mining sector then the EFTs are a very easy way to see which way the overall trend is going. The ETFs (GDX), (GDXJ), (SGDM), (SGDJ), and (TGLDX) are better proxies for the overall Gold mining industry as a average, over any individual stock in my opinion.

        Jun 09, 2015 09:33 PM

        I’m not a huge fan of using the HUI because I’m not thrilled with the makeup or weighting of it as much as the other composite ETFs and it leans very heavily on the primary top 4-5 Majors.

        HUI Makeup:

        Company name Symbol Weighting[nb 1]
        Barrick Gold NYSE: ABX 16.49%
        Goldcorp NYSE: GG 16.20%
        Newmont Mining NYSE: NEM 9.89%
        Agnico Eagle Mines NYSE: AEM 4.61%
        Compañia de Mínas Buenaventura NYSE: BVN 4.50%
        Sibanye Gold Limited NYSE: SBGL 4.47%
        AngloGold Ashanti NYSE: AU 4.25%
        Randgold Resources NASDAQ: GOLD 4.09%
        Kinross Gold NYSE: KGC 4.05%
        B2Gold Corp. NYSE: BTG 3.97%
        AuRico Gold NYSE: AUQ 3.95%
        Yamana Gold NYSE: AUY 3.93%
        Eldorado Gold Corp NYSE: EGO 3.91%
        New Gold Inc NYSE MKT: NGD 3.84%
        Alamos Gold Inc. NYSE: AGI 3.51%
        Harmony Gold Mining NYSE: HMY 3.30%
        Gold Fields Limited NYSE: GFI 3.22%
        Iamgoldcorp NYSE: IAG 3.12%

          Jun 09, 2015 09:37 PM

          GDX in comparison is more well-rounded on the majors:

          Holding Ticker Shares Market Value % of net assets
          Goldcorp Inc GG US 24,499,648 $424,088,906.88 6.90%
          Barrick Gold Corp ABX US 35,071,942 $401,924,455.32 6.54%
          Newmont Mining Corp NEM US 15,028,902 $388,346,827.68 6.32%
          Agnico-Eagle Mines Ltd AEM US 10,304,722 $323,568,270.80 5.26%
          Newcrest Mining Ltd NCM AU 30,813,964 $318,638,615.75 5.18%
          Franco-Nevada Corp FNV US 6,156,370 $305,417,515.70 4.97%
          Randgold Resources Ltd GOLD US 4,279,352 $302,550,186.40 4.92%
          Silver Wheaton Corp SLW US 15,503,586 $288,986,843.04 4.70%
          Royal Gold Inc RGLD US 4,268,472 $275,700,606.48 4.48%
          Anglogold Ashanti Ltd AU US 29,205,024 $254,667,809.28 4.14%
          Eldorado Gold Corp EGO US 51,556,027 $236,126,603.66 3.84%
          Yamana Gold Inc AUY US 67,465,673 $233,431,228.58 3.80%
          Cia De Minas Buenaventura Sa BVN US 19,830,935 $211,992,695.15 3.45%
          Kinross Gold Corp KGC US 82,348,958 $208,342,863.74 3.39%
          Gold Fields Ltd GFI US 55,975,525 $181,360,701.00 2.95%
          Zijin Mining Group Co Ltd 2899 HK 419,728,000 $169,043,809.57 2.75%
          Detour Gold Corp DGC CN 12,149,595 $143,677,074.43 2.34%
          New Gold Inc NGD US 36,598,571 $116,383,455.78 1.89%
          B2gold Corp BTG US 66,272,611 $113,326,164.81 1.84%
          Sibanye Gold Ltd SBGL US 16,422,942 $103,464,534.60 1.68%
          Centerra Gold Inc CG CN 17,012,035 $102,776,062.02 1.67%
          Pan American Silver Corp PAAS US 10,910,223 $100,483,153.83 1.63%
          Centamin Egypt Ltd CEY LN 82,890,168 $88,586,332.87 1.44%
          Osisko Gold Royalties Ltd OR CN 5,961,214 $85,245,719.38 1.39%
          Hecla Mining Co HL US 26,577,353 $80,795,153.12 1.31%
          Northern Star Resources Ltd NST AU 42,622,319 $72,362,010.02 1.18%
          G-Resources Group Ltd 1051 HK 1,905,849,000 $70,015,555.63 1.14%
          Iamgold Corp IAG US 28,129,306 $60,759,300.96 0.99%
          Semafo Inc SMF CN 21,123,748 $58,886,849.21 0.96%
          Alamos Gold Inc AGI US 9,162,953 $57,818,233.43 0.94%
          Aurico Gold Inc AUQ US 17,980,892 $56,460,000.88 0.92%
          Oceanagold Corp OGC AU 21,676,792 $50,670,905.24 0.82%
          Primero Mining Corp PPP US 11,623,382 $48,469,502.94 0.79%
          Alacer Gold Corp ASR CN 20,924,809 $46,901,158.55 0.76%
          Zhaojin Mining Industry Co Ltd 1818 HK 62,861,000 $45,556,514.85 0.74%
          Harmony Gold Mining Co Ltd HMY US 31,375,524 $42,043,202.16 0.68%
          First Majestic Silver Corp AG US 8,460,531 $41,371,996.59 0.67%
          Coeur D’Alene Mines Corp CDE US 7,435,051 $41,190,182.54 0.67%
          Other/Cash 0 ($3,701,883.08) -0.06%

            Jun 09, 2015 09:39 PM

            Here is SGDM which I like even better with the heavier weighting in the Steamers.

            Security Symbol Weight
            FRANCO-NEVADA CORP FNV 12.33%
            RANDGOLD RESOURCES LTD-ADR GOLD 11.45%
            NEWMONT MINING CORP NEM 11.05%
            GOLDCORP INC GG 10.42%
            ROYAL GOLD INC RGLD 4.70%
            AGNICO EAGLE MINES LTD AEM 4.51%
            BARRICK GOLD CORP ABX 4.30%
            ELDORADO GOLD CORP EGO 4.27%
            YAMANA GOLD INC AUY 4.22%
            GOLD FIELDS LTD-SPONS ADR GFI 3.43%
            PRIMERO MINING CORP PPP 2.86%
            KINROSS GOLD CORP KGC 2.79%
            ANGLOGOLD ASHANTI-SPON ADR AU 2.69%
            SANDSTORM GOLD LTD SAND 2.63%
            AURICO GOLD INC AUQ 2.37%
            IAMGOLD CORP IAG 2.37%
            NEW GOLD INC NGD 2.27%
            NOVAGOLD RESOURCES INC NG 2.27%
            PRETIUM RESOURCES INC PVG 2.16%
            SIBANYE GOLD- SPON ADR SBGL 1.93%
            SILVER STANDARD RESOURCES SSRI 1.10%
            SILVER WHEATON CORP SLW 1.09%
            FIRST MAJESTIC SILVER CORP AG 0.90%
            COEUR MINING INC CDE 0.87%
            ENDEAVOUR SILVER CORP EXK 0.85%
            DREYFUS TREAS PRIME CASH MGMT/INST 0.17%

            Jun 09, 2015 09:08 PM

            That should have said Streamers not Steamers….:-)

            Franco Nevada, Royal Gold, Sandstorm, Silver Wheaton was who I was referencing.

        Jun 09, 2015 09:38 PM

        Here are the holdings in GDXJ:

        Holding Ticker Shares Market Value % of net assets
        Osisko Gold Royalties Ltd OR CN 6,672,045 $95,410,645.51 5.89%
        Centamin Egypt Ltd CEY LN 64,826,255 $69,281,078.13 4.27%
        Hecla Mining Co HL US 22,678,951 $68,944,011.04 4.25%
        Northern Star Resources Ltd NST AU 38,164,759 $64,794,190.88 4.00%
        Iamgold Corp IAG US 27,419,283 $59,225,651.28 3.65%
        Novagold Resources Inc NG US 14,253,398 $58,296,397.82 3.60%
        Oceanagold Corp OGC CN 19,901,160 $47,484,591.44 2.93%
        Aurico Gold Inc AUQ US 14,929,036 $46,877,173.04 2.89%
        Semafo Inc SMF CN 16,759,736 $46,721,256.41 2.88%
        China Silver Group Ltd 815 HK 60,302,000 $44,732,069.26 2.76%
        Centerra Gold Inc CG CN 6,941,572 $41,936,631.00 2.59%
        Coeur D’Alene Mines Corp CDE US 7,541,866 $41,781,937.64 2.58%
        Torex Gold Resources Inc TXG CN 46,112,276 $40,749,952.68 2.51%
        Alamos Gold Inc AGI US 6,439,070 $40,630,531.70 2.51%
        First Majestic Silver Corp AG US 8,246,999 $40,327,825.11 2.49%
        Primero Mining Corp PPP US 9,485,588 $39,554,901.96 2.44%
        Silver Standard Resources Inc SSRI US 6,124,289 $39,379,178.27 2.43%
        Pretium Resources Inc PVG US 6,377,929 $38,395,132.58 2.37%
        Evolution Mining Ltd EVN AU 41,975,868 $35,975,018.03 2.22%
        Harmony Gold Mining Co Ltd HMY US 25,604,792 $34,310,421.28 2.12%
        Lake Shore Gold Corp LSG CN 33,026,898 $32,635,536.89 2.01%
        Romarco Minerals Inc R CN 89,173,959 $31,521,624.39 1.95%
        China Gold Inttl Resources Corp Ltd CGG CN 16,809,739 $30,520,192.92 1.88%
        Alacer Gold Corp ASR CN 13,044,351 $29,237,790.15 1.80%
        Koza Altin Isletmeleri As KOZAL TI 2,803,542 $28,672,256.97 1.77%
        Fortuna Silver Mines Inc FSM US 7,127,695 $26,158,640.65 1.61%
        Sandstorm Gold Ltd SAND US 7,663,994 $25,521,100.02 1.57%
        Rubicon Minerals Corp RBY US 21,755,801 $24,148,939.11 1.49%
        Regis Resources Ltd RRL AU 26,083,702 $23,205,238.59 1.43%
        Mag Silver Corp MAG CN 3,039,415 $21,536,565.82 1.33%
        Asanko Gold Inc AKG CN 12,681,258 $20,783,102.08 1.28%
        Premier Gold Mines Ltd PG CN 10,771,047 $20,594,570.68 1.27%
        China Precious Metal Resources Holdings 1194 HK 228,912,000 $20,067,316.70 1.24%
        Kirkland Lake Gold Inc KGI CN 4,045,951 $19,795,012.32 1.22%
        Guyana Goldfields Inc GUY CN 6,134,138 $17,297,308.20 1.07%
        Saracen Mineral Holdings Ltd SAR AU 47,840,509 $16,603,587.40 1.02%
        Seabridge Gold Inc SA US 2,449,038 $16,139,160.42 1.00%
        Endeavour Silver Corp EXK US 7,733,816 $15,854,322.80 0.98%
        Silvercorp Metals Inc SVM US 12,959,642 $14,903,588.30 0.92%
        Mcewen Mining Inc MUX US 14,867,377 $14,688,968.48 0.91%
        Endeavour Mining Corp EDV CN 29,310,913 $14,128,578.27 0.87%
        Dundee Precious Metals Inc DPM CN 6,645,843 $13,614,701.47 0.84%
        Teranga Gold Corp TGZ CN 22,728,227 $13,146,674.79 0.81%
        Continental Gold Ltd CNL CN 6,327,156 $13,114,330.17 0.81%
        Argonaut Gold Ltd AR CN 9,176,993 $11,869,820.23 0.73%
        Perseus Mining Ltd PRU CN 38,079,108 $11,471,914.44 0.71%
        Timmins Gold Corp TMM CN 15,594,560 $10,022,613.38 0.62%
        Medusa Mining Ltd MML AU 14,911,603 $9,968,423.67 0.62%
        Gold Resource Corp GORO US 3,048,518 $9,115,068.82 0.56%
        Kingsgate Consolidated Ltd KCN AU 15,862,461 $9,059,137.31 0.56%
        Resolute Mining Ltd RSG AU 31,372,271 $7,156,176.13 0.44%
        Beadell Resources Ltd BDR AU 51,451,264 $6,569,625.01 0.41%
        Highland Gold Mining Ltd HGM LN 7,425,857 $5,556,977.44 0.34%
        Great Panther Silver Ltd GPL US 10,584,218 $5,243,421.60 0.32%
        Drdgold Ltd DRD US 2,986,647 $5,107,166.37 0.32%
        Silver Lake Resources Ltd SLR AU 37,754,303 $4,970,831.14 0.31%
        Troy Resources Ltd TRY AU 15,759,596 $4,711,798.95 0.29%
        Real Gold Mining Ltd 246 HK 19,287,400 $3,561,503.36 0.22%
        Gabriel Resources Ltd GBU CN 10,337,554 $2,699,100.26 0.17%
        Bear Creek Mining Corp BCM CN 2,961,117 $2,140,996.42 0.13%
        Patagonia Gold Plc PGD LN 38,603,767 $1,542,988.07 0.10%
        Troy Resources Ltd .TRY AU 5,167,570 $1,538,116.33 0.09%
        Midway Gold Corp MDW US 11,661,357 $746,326.85 0.05%
        Sulliden Mining Capital Inc SMC CN 3,539,254 $597,102.50 0.04%
        Paramount Gold Nevada Corp PZG US 71,691 $106,819.59 0.01%
        Other/Cash 0 $8,194,416.39 0.51%

          Jun 09, 2015 09:41 PM

          Here is SGDJ, which again I like better than GDXJ but it isn’t as liquid (yet).

          Security Symbol Weight
          CENTERRA GOLD INC CG 8.07%
          HECLA MINING CO HL 6.41%
          B2GOLD CORP BTO 6.25%
          NEW GOLD INC NGD 5.88%
          PAN AMERICAN SILVER CORP PAA 5.76%
          AURICO GOLD INC AUQ 4.99%
          SIBANYE GOLD- SPON ADR SBGL 4.94%
          SEMAFO INC SMF 4.76%
          CHINA GOLD INTERNATIONAL RESOURCES CORP LTD CGG 4.22%
          PRIMERO MINING CORP PPP 3.84%
          ALACER GOLD CORP ASR 3.68%
          IAMGOLD CORP IAG 3.42%
          COEUR MINING INC CDE 3.12%
          SILVER STANDARD RESOURCES SSRI 3.02%
          OCEANAGOLD CORP OGC 2.89%
          OSISKO GOLD ROYALTIES LTD OR 2.75%
          NOVAGOLD RESOURCES INC NG 2.64%
          LAKE SHORE GOLD CORP LSG 2.49%
          FIRST MAJESTIC SILVER CORP AG 2.43%
          HARMONY GOLD MNG-SPON ADR HMY 2.34%
          KIRKLAND LAKE GOLD INC KGI 2.26%
          FORTUNA SILVER MINES INC FSM 1.95%
          KLONDEX MINES LTD KDX 1.90%
          PRETIUM RESOURCES INC PVG 1.60%
          SANDSTORM GOLD LTD SAND 1.54%
          TOREX GOLD RESOURCES INC TXG 1.45%
          MAG SILVER CORP MAG 1.00%
          RUBICON MINERALS CORP RBY 0.88%
          GUYANA GOLDFIELDS INC GUY 0.84%
          SEABRIDGE GOLD INC SA 0.68%
          ASANKO GOLD INC AKG 0.66%
          PREMIER GOLD MINES LTD PG 0.63%
          CONTINENTAL GOLD LTD CNL 0.53%
          DREYFUS TREAS PRIME CASH MGMT/INST 0.16%

        Jun 09, 2015 09:48 PM

        One last fund or ETF that doesn’t get as much Hype is the Tocqueville Gold Fund:

        MV Weight Company Name
        90,137,704.00 6.75% ROYAL GOLD INC
        70,401,133.00 5.27% GOLDCORP
        69,866,388.00 5.23% AGNICO EAGLE MINES LTD
        62,060,754.00 4.65% RANDGOLD RESOURCES LTD
        49,923,154.00 3.74% ELDORADO GOLD CORP LTD
        43,295,579.00 3.24% SILVER WHEATON CORP
        36,161,958.00 2.71% TAHOE RESOURCES INC
        31,983,064.00 2.40% MALA NOCHE RESOURCES CORP
        30,574,697.00 2.29% SEMAFO INC
        27,961,823.00 2.10% PAN AMERICAN SILVER CORP
        27,649,550.00 2.07% NEW GOLD INC
        26,176,611.00 1.96% YAMANA GOLD INC
        25,337,116.00 1.90% B2GOLD CORP
        22,086,822.00 1.65% MAG SILVER CORP
        21,007,795.00 1.57% NEWMONT MINING CORP
        15,596,249.00 1.17% NOVAGOLD RESOURCES INC
        13,662,076.00 1.02% RUBICON MINERALS CORP
        13,038,667.00 0.98% IAMGOLD CORP
        9,572,545.00 0.72% CORVUS GOLD INC
        9,492,000.00 0.71% KINROSS GOLD
        9,334,320.00 0.70% BEAR CREEK MINING CORP
        8,237,734.00 0.62% ROMARCO MINERALS INC
        8,178,475.00 0.61% INTERNATIONAL TOWER HILL MIN
        7,469,177.00 0.56% IVANHOE MINES LTD
        6,984,003.00 0.52% STILLWATER MINING CO
        1,129,299.00 0.08% PREMIER GOLD MINES LTD
        62,060,754.00 4.65% RANDGOLD RESOURCES LTD
        1,133,234.00 0.08% ROCKHAVEN RESOURCES LTD
        8,237,734.00 0.62% ROMARCO MINERALS INC
        90,137,704.00 6.75% ROYAL GOLD INC
        13,662,076.00 1.02% RUBICON MINERALS CORP
        4,063,394.00 0.30% SCORPIO MINING CORP
        30,574,697.00 2.29% SEMAFO INC
        43,295,579.00 3.24% SILVER WHEATON CORP
        6,984,003.00 0.52% STILLWATER MINING CO
        36,161,958.00 2.71% TAHOE RESOURCES INC
        26,176,611.00 1.96% YAMANA GOLD INC
        5,717,407.00 0.43% ~SUNSHINE MINING & REFINING

          Jun 09, 2015 09:11 PM

          Shad,
          This is much appreciated info. Thank you!

          I hope Doc is wrong. I’m thinking bottom of metals in September?
          The bottom in 2016 just seems light years away.. Grrr

            Jun 09, 2015 09:17 PM

            great effort on Shad’s part……………thanks

            Jun 09, 2015 09:25 PM

            We’ll see how it all shakes out. I thought people would like to see the makeups of the major gold mining EFTs and can see that there are 5 good options that are well-rounded enough to use as proxies for the mining marketplace. I always like to see how each funds weights these equities too, as they are paying a team of people big bucks to manage these composites.

    Jun 09, 2015 09:05 PM

    Just to check Doc was talking about Yamada Gold (AUY) being his sentinel stock –

    Just looking at the chart they are at or near a 10 year low. That in and of itself doesn’t make them a screaming buy but they may be a safe place to be – I doubt we will see it on Gary’s list of dying gold companies anytime soon –

      Jun 09, 2015 09:54 PM

      Yes. Yamana Gold (AUY) is what he mentioned. See above for better sentinels (use Newmont or use the ETFs).

      Yamana is looking very attractive at these levels, but I’m curious to see if it may even fall further in the washout.

        Jun 09, 2015 09:36 PM

        Shad, it will fall further. Doc.

          Jun 09, 2015 09:13 PM

          I agree. Do you have a target for the downside you are watching for, or will you be watching for just a bottoming confirmation pattern or technical indicator (MACD) to play out?

            Jun 09, 2015 09:17 PM

            Rick A. is excellent at price points with his pivot point methodology—that’s not my strength although I’m thinking about learning his techniques—-I do know some of it. I’ll look for a bottoming pattern (as you mention) on some of the indicators I use.

            Jun 09, 2015 09:56 PM

            Thanks Doc. Good thoughts as always!

            Jun 09, 2015 09:48 PM

            AUY – Yamana chart looks like it is riding the lower Bollinger Bands down, below its moving averages, and in the neighborhood where it has put in lows on 2 other occasions in the past.

            Jun 09, 2015 09:48 PM
    Jun 09, 2015 09:30 PM

    Doc must be working on that chart showing the gold bull resuming fall of 2016, need some help Doc!?

      Jun 09, 2015 09:02 PM

      Did it ever occur to you that people have different indicators and methods than those you understand?
      I doubt you would be such a jerk with your Marty if HE said it would be the fall of ’16.

        Jun 09, 2015 09:58 PM

        Oh look its Mattie my little girl follower chiming in again.

        You really need to get a life, Doc said that the indicators he follows suggests the gold bull begins fall of 2016, so as I fellow chart technician I’m very curious as to what indicator he uses to come up with such a call. If its rubbish I’ll point out its weakness if its spot on I’ll congratulate him.

        I have no idea why Mattie you have such a hate on for the guy who has correctly called golds TREND since it topped in 2011 along with US equities as he’s far better than the likes of Sprott, Turk, Leeb , the guys you call hero’s

        I have 5 indicators and have been showing the very basic indicator of which works with great accuracy

        Still waiting for Doc’s chart unless is a big secret? ewwwww

        Jun 09, 2015 09:05 PM

        I have no idea why you’re such a sarcastic jerk to everyone. Who the hell is your low-IQ ass to call another approach “rubbish.”

        Get your facts straight. I’ve never called those guys heros I just happen to understand where they’re coming from. Unlike you, I use more than one little section of my brain.

        More people would have a problem with Marty if they had brains enough to recognize some of his shill work.

          Jun 09, 2015 09:22 PM

          you are so emotional, time for a nap buddie, thank god there are such smart people like you in the world Mattie who can point out the most useless crap, I can’t spell, my grammer is terable my iq is, whatz thad?

          WHO CARES its about making money not a speeling B, get over yourself little girl, go read one of your heros calls of silver skyrocketing any day now, lol

            Jun 09, 2015 09:48 PM

            What a laugh. You’re the most emotional guy here. If you’re like this while making so much money I’d hate to see you in action when you’re losing!

            Like I’ve mentioned before, you didn’t act this way a couple years ago. I think the problem is that you’ve found someone to worship and gain confidence from and are now trying to take on his attitude. Otherwise, what gives?

            You’re 65 going on 13.

          Jun 09, 2015 09:07 PM

          Matthew,

          I agree 100% that M Armstrong is nothing but a shill. The only reason why the trading community believes him is because they have no clue of real history and the financial system. They lean on Marty’s BS to lead them to a delusional state of stupid.
          The weird thing is, most of his followers are semi smart.

          You are spot on, Matthew.

          LPG
          Jun 09, 2015 09:40 PM

          I learned something today: “shill”.
          Thanks Matthew,
          Best to you & hope all’s well.
          LPG

      Jun 09, 2015 09:22 PM

      Great article from Gary Savage. I concur, but still have a few small positions on in tiny speculative explorers that are takeover targets, but have mostly migrated 80% over to other asset classes for the summer or to cash. My concern with getting out of the dozen takeover targets is that right as I did that, then a Major would come in an gobble them up because they’ll be going bottom fishing too, and I’d miss the explosive move up (even in an overall Bear market).

        Jun 09, 2015 09:22 PM

        BTW – thanks for posting the link Rev.

    Jun 09, 2015 09:50 PM

    Is ojj Birdman re-invented Matthew?

      Jun 09, 2015 09:58 PM

      Nah, I’d bet a lot against that possibility. The devil’s in the details.

      Jun 09, 2015 09:05 PM

      Andy, I thought the same for about one second…..then the spelling occurred that would be not possible, unless tweety got real wacked out…….

        Jun 09, 2015 09:06 PM

        and then again, that too is a possibility………… 🙂

        Jun 09, 2015 09:07 PM

        Lol…………………. That’s one simple indicator!

          Jun 09, 2015 09:08 PM

          The “literary” differences I mean. 😉

            Jun 09, 2015 09:10 PM

            🙂

            Jun 09, 2015 09:34 PM

            Makes total sense, Mattie, Revy and Frank the blank who has never ever posted anything worthy of making money here are ALL THE SAME ASSHOLE, too funny!

            Seriously how old are you losers, I bet you make fun of those in wheelchairs, those with little education, those less fortunate than you, you must be americans!

            Jun 09, 2015 09:17 PM

            JJo ……you would not know if it was positive or not, with you mental outlook so. Anything I would post would be over your head.

            Jun 09, 2015 09:39 PM

            What I was trying to imply, which you took the wrong way……..Was, tweety was always trying to belittle someone who would make a typing error or misspelling ………So, since you have a hard time spelling……I knew jj(you) could not be tweety. But, heck , like you said this is not a spelling B……BUT, your traits are very much alike……

      Jun 09, 2015 09:45 PM

      Rev,
      Bird would actually make a call. JJ is Monday-morning quarterback.

      Jun 09, 2015 09:55 PM

      I have to admit that I (briefly) thought OJ and BM were the same person. One goes away, the other arrives.

      If they are the same person (ANYTHING is possible on the internet), it would require extra-ordinary, high-level sociopathic skill set. Not to mention, lots of free time.

        Jun 09, 2015 09:58 PM

        So. Let’s just call him/her :

        OJBM (Orange Juice Bowel Movement)

          Jun 09, 2015 09:13 PM

          The original MMQ ( Monday-morning quarterback )

    Jun 09, 2015 09:38 PM

    The $hui looks very heavy right here and also be careful with GDX and GDXJ. I had hoped that the commodities would bottom this spring but it looks like it’ll be extended as late as the end of the year.

      Jun 09, 2015 09:47 PM

      Okay Doc, if I’m coming across as an arrogant *** I apologize but you said in your audio that according to the indicators you apply on your gold chart the resumption of the gold bull will start fall of 2016, I’ve been trading off charts for 40 years and know nobody who can make such a claim be it gold oil or the Dow using an indicator, sorry!

      Copy and paste the chart your looking at and walk me thru your call……….?????

      Jun 09, 2015 09:10 PM

      Thanks Doc,
      I was very tempted to buy FNV today but held off, as it looks as if it could go to $45 quite easily; only another $3 down isn’t much.
      But then, I said the same thing about RGLD, and it just keeps going sideways.

      “If they can’t break ’em UP, they break ’em down” and vice versa.

      http://stockcharts.com/h-sc/ui?s=FNV&p=W&b=5&g=0&id=p13223068222&a=411619163

        Jun 09, 2015 09:21 PM

        Irwin, you’re welcome—there is still some down pressure on FNV but we’re getting close to oversold all those some indicators are holding out the possibility of breaking oversold and staying in that area for a little while. There’s a lot of support at $45. Remind me to look at that stock again in about 2-3 days.

          Jun 09, 2015 09:25 PM

          Irwin, I just looked at the weekly chart—-be very careful with FNV at this time.

            Jun 09, 2015 09:27 PM

            Thanks again, Doc.

    Jun 09, 2015 09:58 PM

    I don’t have a problem with your “self-assurance”. I’ll know in the next few weeks if my scenario has a chance to pay off. Some of the silver stocks and gold stocks are starting to roll over and we’ll see how much that plays in the drop of the PMs—as I’ve said, I rarely make long term predictions from a chart basis but I like to develop possible scenarios and this is the best one I could come up with. I’ll post it after we see what happens in the near future—-if Gary gets his precipitous drop soon, then I won’t have to bore you. Either way, I’ll post it—it’s served me well so far since last year and we’ll see—-just give me a little time.

    Jun 09, 2015 09:23 PM

    One huge warning sign for gold was the last 2 weeks of commercials on the COT report. The sudden huge short position was a real cause for concern.

    Jun 09, 2015 09:59 PM

    exactly what I thought total BS, no chart backing up your claim, that is something I never do, ever

    LPG
    Jun 09, 2015 09:52 PM

    ***** REPOSTING THE BELOW ******

    Recommended quick read (and will post elsewhere):

    http://www.financialsense.com/contributors/chris-puplava/global-growth-stabilizing-right-on-cue

    Best to all and GL investing/trading.

    LPG

      Jun 09, 2015 09:15 PM

      LPG; this guy has something there—-the move up in rates could be signalling a pickup in the second half—-especially with y-o-y wage gains. They’re really starting to push the inflation button. Look at the pressure to raise minimum wages and Obama’s talking about forcing businesses to pay salaried for working more then 40 hours a week. They are getting desperate and are starting to pull out all the stops.

        LPG
        Jun 09, 2015 09:47 PM

        Maybe Chris T. shall check if there’s enough space in his fridge…
        ….coz soon he might need to put some champagne bottles to chill to celebrate the Cubs’ World Series Victory 🙂 🙂 🙂

        Best to all,

        LPG

          Jun 10, 2015 10:03 AM

          funny.