Are the conventional markets in a topping pattern?
Gary kicks off today with commentary on the conventional markets and where he thinks the best place to have your money is.
Click download link to listen on this device: Download Show
Time will certainly tell, Peter.
Gold is UP with the market down. Platinum is off a couple bucks… who cares? Since when does Platinum lead the other metals anyway?
Gary is consistently wrong, anyone who has been listening to him since Korelin started interviewing him knows this.
This dumb hick has been losing subscribers left and right, and for good reason. Follow him at your peril.
I guess that we can assume that you don’t think too much of Gary. Okay, it is definitely a free world.
Thanks for your comment.
I guess Joe likes to lose money 🙂
Every portfolio is up for the year so far except the currency portfolio. So if one did the opposite of me they would be losing money.
Joe…I have followed Gary for a long time and found him very reliable…
Gets my endorsement. I listen to Gary most days and agree he is a pretty sharp guy with some great insights. Go Gary!
I agree that Gary has a level-headed approach to investing when most people seem to get too emotional (including myself). Keep up the good work, Gary, and thanks for your daily contributions to the Korelin commentary.
I have no doubt Gary (subscribers) makes money (primarily on short term stuff I am guessing) but his intermediate and longer term calls are hit and miss.
Gary has a great deal of good market interpretations, cyclical analysis, and I listen to him every day. While I don’t base my trading decision on what any one pundit, economist, or newsletter writer says, I do weigh Gary’s thoughts, along with a handful of others, against my personal projects looking for areas where we agree and disagree. While any forecaster is going to be wrong 20-40% of the time, Gary adjusts direction quickly when new data presents itself, and does offer all of us on this site a great deal of insights we should be thankful for.
Joe,
Just in case you missed it, platinum has been leading the downward trend for months!
Gary was stating the obvious. And Gary might not be right all the time, but he’s right most of the time, which is better than most.
Agreed.
MASSIVE MONEY PRINTING, Debt, fiscal shaninigans, manipulations, bouncing money around different capital markets surrepititiously or otherwise…all sorts of stuff going on…cycles……forget it…LIKE MCCALVANY SAYS ……SOME CASH, GOLD(SILVER) AND…………PATIENCE….JUST LIKE THE FOOL AND HIS MONEY ARE SOON SEPARATED….FUNDAMENTALS – FINANCIAL TRUTH WILL SEPARATE FROM ALL THIS NON-SENSE – AND IT WILL BE BRUTAL, MESSY AND DOWNRIGHT DEVASTATING. Invest accordingly….:)
Most, including us, would agree with you SD
ditto
Went shopping in the week end. The price tag starts to scare me. My wife starts to complain how expensive everything is. I was shocked to see a can of fish used to cost 99cents now costs $6.29. The hot pepper bottle has shrinked from 382 million littre to 228. It looks tiny. How stupid people have to be in order to claim deflation.
These guys should talk to their wives before opening thier mouth, or do they have one?
+1
Deflationists exist because they don’t know how to define deflation. The brilliant Rob Arnott gets it, but brilliance shouldn’t be required!
http://kingworldnews.com/rob-arnott-broadcast-interview-available-now-5-17-15/
Central bankers tell the truth every now and then…
“…the U.S. government can also reduce the value of a dollar… under a paper money system, a determined government can always generate higher spending and hence positive inflation.”
~ Ben Bernanke
Of course, that is very true!
LOL.. Lawrence… million litre?… milli litre.. you meant!
I guess the cell phone did the trick. Yes, off course
These mobile phones are rewriting the English language.
Yes, they don’t allow any casual typing and changes the text as it goes to whatever it feels like without telling. The small window also makes it hard.
I blame it all on those Chinese cell phone programmers! 🙂
Me too 🙂
You crack me up Lawrence. Of course we are both right!
I agree with all of you guys regarding cell phones although my Kindle poses more problems.
Where do you live? I found tuna is very cheap right now (or maybe that was just a local deal here in TX). Deflation is occurring all over the place in technology. I saw an 900+ GB SSD on sale for under $300. Regular hard disks and televisions are dropping even faster in price. It all depends on how you look at what things I suppose.
I live in Calgary.
Definitely not Tuna country!
inflation is not determined by technology or tuna. Couldn’t think of two factors of less importance than tuna and a hard disk. I think you are mistaking deflation with a sale. big dif
Talking about cheap prices makes me mad because I have to pay more, a lot more for everything (not casual on sale price since it compares apple and oranges). Cheap prices are always somewhere else I can not access. House insurance goes up, tuition goes up, food goes up, dental fee goes up… Even electronics stops going down. You think those Chinese slaves should keep droping prices to kiss US a$$. They are doing it not any more. I used to be able to load a whole shopping cart using $100 even when Canadian S worth 70 cents. Now it worthes 82 cents and I cannot fill half of a shopping card with $100.
My wife has been really furious for a while since she feels price is getting very high. She does not care about economy but she remembers prices better than me. She remember what she paid for a pair of shoes 5 years ago.
My wife too. I don’t know how she does it. But I suppose I do it too because I can recall the price of gold on dozens of major dates but if you asked me about the price of shoes or tomatoes last week I draw a blank!
Tuna costs me $45.00 a lb…takes $600.00 in fuel to get out and back from Port Canaveral to weather buoy 2 where the tuna hang out….another $ 200.00 in rigging and bait..another $300.00 for a first mate…12 hours on the water and 2 more to clean up…but blue fin is worth it…
We fish for the love of it Gator. Spare no expense. I never understood what anyone saw in Golf when fishing is the best pastime of all. 🙂 Maybe Barrack should give it a try. It’s easier to talk secrets on a boat than a golf course.
Silver looks bullish. Been a long time since I wrote words like that!
COT report was extremely bullish for silver.
Birdman –
R U DRUNK!!…:)
Now, now SD!
Funny one SD!….but no, quite sober actually.
I was just looking at the daily chart on silver though and it has turned up bullishly showing we now have two higher lows since the March bottom. Have a look yourself as silver is forming a bull channel going back 4 months. If it holds we could see prices near 18 dollars (or slightly above) by late July.
It actually would not surprise me to see metals beginning to turn positive right about now. Especially as there seems to be a growing, even widespread belief that markets will correct in the fall. That sentiment is appearing even in the mainstream, not just on metals blogs.
I suspect more than a few managers will be taking some money off the table between now and then “just in case”. But there is actually good reason for many to feel a little hesitation. From a historical perspective the fall can be turbulent and that combined with the fact this is such an overextended bull market in equities that now appears to be tiring suggests even the bulls exercise a little caution.
Ay such a time it would seem obvious that miners and some resources would catch a bid. Not everyone after all wants to retreat to cash and bonds. From that perspective this might actually be an ideal time to start accumulating the better miners. Just my opinion of course.
Anyone else? Maybe I am still sick!
I’ve continued to buy into this weakness. Insiders are apparently doing the same and have been for awhile now.
https://canadianinsider.com/
Brent Cook also thinks it’s time.
http://www.silverseek.com/commentary/its-time-start-accumulating-resource-stocks-really-have-value-14523
I am cautiously optimistic. To me, its really about where silver turned up on the daily chart that caught my attention but we need a few days to see if it keeps playing out in a positive way…..put another way; silver did not break down as I was anticipating.
Good posts Matthew.
Birdman…Bo Polny called for June to be a great month for the metals…
I won’t listen to a word out of that guys mouth. He is more witch doctor than analyst in my view. Don’t forget he also called for 2000 dollar gold before year end 2014 so his calls aren’t worth snot. The technicals however, combined with market sentiments do suggest the summer will offer some good entry points. But I guess it will all come down to whether we get a mild equities correction or something more severe. In the latter case, both gold and silver stocks would suffer. We do know though that we are coming step by step closer to a rotational back into resources so it will pay to keep watching the commodity index’s as they bottom.
(Sorry about not being a Bo fan)
Bo is becoming a joke. His method seemed working for a while before it failed. I remember his calls was quite good when gold was topping and a year after gold topped. He was with James Sinclair at that time. Once he came public, his work becomes funny.
Metals need a nice pop right here, before the drop.
Amen, Chartster!
BRAZILIEN MARKET NEWS!!!
George Soros sold-off all Petrobras positions!
wisely so. Petrobras looks like its teetering on the brink.
I can live with that Chartster…..this week is a MA directional change in gold forecast. In fact there are 2 more in the month ahead.
What if that directional change is up, not down?
That’s alright. Lots of volatility ahead this month.
It sure looks like the general stock market is moving sideways and slightly down . I expect to drift this summer , a mild retreat. Everyone expects Greece to fail on paying its bonds so that should not upset usa markets. Italian and german markets will take a modest hit. I expect the greeks will wait a few months before considering a new greek currency. i am doing well on my preferred stock investments and pipeline companys . Just bought DPS again Dr. Pepper is the best of soda pop companys which traditionally rally in hot summer months . Best of health and wealth to you all S
As well as I can read the Armstrong price indicators (which isn’t foolproof!) he predicted a pop in gold this week, down again next week, and a top the the week after next, then it should begin its decline to new lows (I’m guessing). I plan to start selling my physical this week if the local shop will give me near spot for it.
Sell your physical? That’s kind of puzzling to me you would say that. Gold and silver have been range bound for months near the cost of production. But unless you are expecting a big washout that sticks it makes no sense to unload physical here because the differentials between premiums and discounts probably would not work out if you were to want to buy it back in a years time. I know gold looks a little boring lately and it sure does not pay to be either a bear or a bull but if I was holding (I don’t bother with physical anymore) I would just keep it at this stage and wait.
Selling my physical will be last thing I will do. It add too much trading cost. This is what ETF comes in handy.
yep.
Here is the link if you wanted to dive into it:
http://armstrongeconomics.com/archives/31318
On the monthly charts, the conventionals are preparing to washout. I expect THIS IS THE BIG ONE this time. Big changes coming, inclusiv in chinas market…
http://www.chinadaily.com.cn/china/2015-06/15/content_21010593.htm