Both Fundamentals and Technicals are suggesting a bad day in the markets today.
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Currently the DJIA, the S&P and the Nasdaq are down considerably. Will the momentum continue in this direction for the rest of the day. Gary does not seem to think so; however, Cory and I do. How about you?
I have been adding to position for oil on the dip. Not easy to capture the rebound these days since the move is so sharp. You most likely to capture the peak than the lows.
I wouldn’t go heavy Lawrence as the US Oil inventory data is out Wed (will want to see a big draw down of reserves=oil bullish), ECB is on Thurs (dovish will be euro$ negative oil negative) and US NFP data Fri ( strong numbers puts US$ higher off rate hike fears, not oil bullish) good luck!
A little at a time on extreme stingy bid only. And also on dividend paying company only. No shale play.
I like the dividend paying companies, with a DRIP PLAN. …..
Technical factors I believe are very important currently in this particular sector.
speculator fact sheet……….
Big Al, There’s nothing wrong with being short in a bear market.
Just don’t get greedy and gear.
As Trade geared shorts, or options, but for long term just buy a non-geared short ETF and enjoy the ride of ups and downs until you think the market has turned to a bull again.
Won’t make you rich, but neither will gold. Just preserving buying power sure helps though.
Ultimately we may have a Wiemar style collapse as Asia takes over.
In the Wiemar collapse stocks went up, but that did not save buying power.
Thanks CFS for the reminder about stocks not saving buying power.
I personally am a bit confused right now. Fundamental factors tell me that the markets (conventional) should absolutely tank right now. But the really important question is “do fundamentals matter at a time like this”? I personally believe that they do because of the definition of the word “fundamental”
Got an opinion?
I won’t post much today. I got up this morning and it is one of those days when my peripheral vision is not good enough to allow me to read.
Take care of yourself Professor. I would personally mosey on down to the Oakville Grocery in Healdsburg.
I do agree with you jj!
HOARDERS OR SPECULATORS……………
you missed one, sheeple
“sheeple”…..one who does not know his master…..which really does not apply to a HOARDER OR SPECULATOR
see the prior article, for definition of HOARDER AND SPECUATOR………
Funny, Sheeple usually refer to people who blindly follow their leaders. It should not apply to the contrarian investors, especially gold bulls.
:)…………..CCF
goldbugs are the #1 SHEEPLE example…..always buy never sell and keep following the same idiots who have been wrong forever!
OR contrarian’s contrarian frank
o jj………. turn on your light………and read the other article
I do think everyone needs to own other investments…………..just saying……..ccf
Completely agree with you Lawrence!
Thanks Al, Sheep follows the power, e.g. guard dogs or shepherd. They are fed until slaughtered. A Gold bugs is like tigers waiting patiently for the prey. He may starve to death but he definitely only following his own idea. No one force him to wait. So use sheeple to describe gold bug is funny. Not I agree with gold bugs but they are opposite of sheeple IMHO.
the CLAW………………
I have to assume that you are talking about gold and silver.
By the way on that not I had a long conversation with David M last evening. He recently spent an entire day on the telephone questioning dealer friends of his and they all verified a delay in getting product of up to six weeks and pretty significant premiums to them.
Go figure!
I like David Morgan. He is the only analyst who called the top and bottom(s :). He is a lot more practical than others. Can you bring him on soon?
Of course.
NICE TO KNOW……….the street told me three weeks ago……………
But a lot of people on this site told you not.
Gotta stick to my guns Lawrence.
I think the blog called today pretty well.
Buy VIX, Short conventional stocks, and get out of the way to avoid being run over.
At least so far Professor!
I’m worried about the silver I supposedly bought.
Not sent yet…..should have been last week. ……?
I kept my order small because some dealers are going to have problems.
THE checks in the mail……………
forgot the ‘s
Gary,
do you think will oil retrace to the $44 dollar level before working back up to test the $50 level now or are you seeing a -%68 retracement first before we head back up?
Confused
I was thinking the fib 61 retracement, because it was such a steep incline: $42.10?
(I know you want Gary’s opinion …)
No idea. It is pulling back from the 50 DMA. Where the pullback stops and the trend resumes is anyones guess.
Marty’s computer data on the DOW
Armstrong is so cryptic, with so many different targets that I have no earthly idea what he’s saying. Sounds kind of like Greenspan 🙂
Its a dry read for sure, targets are a simple read X falls = Y and if X holds = Z
Gary I meant %61.8 retracement
sorry
forgot the ‘s
I completely agree regarding debt and manipulation.
Just my opinion, but I really think that the majority will eventually stop the “new world order”. I still believe in the strength of the individual.
Currently the markets are going “deeper in the cellar” Any predictions as to where the close will be?
Big Al. My SPXS shares are up 8% today. I am holding for at least 20%.
First Mining Announces Business Combination With Gold Canyon Resources Inc. and PC Gold Inc.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sep 1, 2015) – First Mining Finance Corp. (TSX VENTURE:FF) (“First Mining”), Gold Canyon Resources Inc. (TSX VENTURE:GCU)(OTC PINK:GDCRF) (“Gold Canyon”) and PC Gold Inc. (TSX VENTURE:PKL) (“PC Gold”) are pleased to announce that the companies have entered into definitive agreements (the “Agreements”) pursuant to which First Mining has agreed to acquire all of the issued and outstanding common shares of both Gold Canyon and PC Gold. Under the Agreements, shareholders of Gold Canyon will receive one common share of First Mining for each Gold Canyon share held in addition to shares in a newly formed Spin-out company (“New Gold Canyon”) which will hold certain non-gold exploration assets currently held by Gold Canyon; and PC Gold shareholders will receive 0.2571 common shares of First Mining for each PC Gold share. Upon completion of the proposed transactions, the former shareholders of Gold Canyon will hold approximately 55.4% of the shares of the resulting company, former shareholders of PC Gold will hold approximately 9.6% of the shares of the resulting company and the current shareholders of First Mining will hold approximately 35.0% of the shares of the resulting company. The transactions imply a value of C$0.35 per Gold Canyon share and C$0.09 per PC Gold share based on the closing prices of each company’s common shares on the TSX Venture Exchange (“TSXV”) on August 31, 2015.
http://finance.yahoo.com/news/first-mining-announces-business-combination-161826617.html
Wow! Sound the bear raid warning! Dow down 400!
PPT getting ready – any second now.
Here’s an article that reinforces most of the audio on this show: From our old friend Craig Hemke: http://news.goldseek.com/GoldSeek/1441118984.php
GREAT INFO…………….
If China is the problem, then consider GOOG or FB. Neither does any business in China.
yes, they are blocked there.
I doubt that GOOG will ever be allowed in ………..jmo
Possible since they tried to force US Law on Chinese government and Chinese government in turn accuse them spying.
Pretty arrogant on the part of our country. Do you agree?
Only some US companies do it. Everyone else tries to accustom to local law and habit. Some successful US companies there too. KFC and McDonald even have a large Chinese food.
I am sorry Lawrence, what is blocked there?
Hundreds of sites are blocked there Al. The list includes Facebook, Gmail, Google, Google Maps, Youtube, Twitter, Blogspot, Instagram and Dropbox among many many more.
Even your site may be blocked although I have never checked. You would have to go to Baidu (China’s Google) and punch it in to see if anything came up. I did this in the past and was amazed how much was censored.
Here is a partial list. It was a pretty big story at one time but not talked about much anymore. Call it the war on information.
Websites Blocked in China — Wiki
https://en.wikipedia.org/wiki/Websites_blocked_in_mainland_China
Hi guys,
I heard Corey mention the market close report and yesterday you mentioned you were going to have a market close report, but I never saw it on the site under the audio recordings. Did I miss it?
Oops, I misspelled Cory’s name. Sorry Cory.
Yes, we did do a market close yesterday.
Wiesguy-It’s under the “Industry News” section, and there were over 140 comments on it.
It looks like the Shanghai exchange and the CRB are going to find a bottom in the near future. Maybe 3 to 8 trading days or so. But the US market is a ..long…way from a bottom.
A long way regarding price and time..
We shall certainly see. I do, by the way, happen to agree with you.
I think the conventional market is a long drawn out crash.
Not a correction!
Semantics Chartster!
Al,
You always referred to the conventional markets and the USD being ” the prettiest pig on the farm “. …well..the pig is about to get the lipstick slapped off.
The emerging markets have bottomed!
David Morgan, yes please get him on the show so I can do the opposite!
Anyone can call a bull market, DM has called more bottoms in silver than most, $30 was his call in 2014 and $1600 gold as THE bottom was in….OMG
but a real nice guy!, lol
OJJ:
You are what contrarians look for. When you say “buy” as you will one day, I will unload ever ounce I own. You have been playing a one string banjo for years.
Bob you invented the 1 string banjo! play on old boy
Bob get someone to read this to you, you might even learn something, perhaps you’ll stop stringing the banjo while singing Hyperinflation’s coming, lol
OJJ:
You are trying to win an argument by putting words in my mouth. I am neither a permabull nor a hyperinflationist and anyone who reads the site would know that. Perhaps you should read a piece you obviously have missed.
http://www.321gold.com/editorials/moriarty/moriarty042511.html
OJJ:
At least Armstrong plays more than one tune. Actually it’s a lot more like talking out of both sides of his mouth.
Martin Armstrong Dec 2011
This is a global MELTDOWN in sovereign debt and public debt at the municipal, state, and federal levels. UNDER NO CIRCUMSTANCES BUY LONG-TERM DEBT FROM ANY OF THESE PUBLIC LEVLES OF GOVERNMENT! You WILL lose everything you invest PERIOD.
There are those still putting out the nonsense that gold will collapse because the economy will turn-around…
Gold should back off and retest the support… We should see gold at $5,000 by the end of 2015.
He also screaming for people to buy silver when the price was 4 and ask people to say when silver went over 40. You would be broke if you do the opposite. It is better to buy gold at 1600 then 1900. No one is perfect, don’t try to cherry pick.
Then why doesn’t DM have the balls to put up on his web-site his yearly returns? Gary Savage does
Does he ever publish stats? He seems not selecting stocks like Gary, he only provides information to investors. Also he is not a technical analyst either. I think you might be confused about what he does.
for someone who has a strong opinion about Morgan you certainly don’t know much about his service, he suggests silver miners jr-sr and has a fee for those that want to see what he trades daily
The two services are a bad comparison: investing/speculating vs trading.
When I speculate, I operate on a case by case basis. When I trade, I keep to the same rules for each position (like jj sells half on a double).
What are you talking about, man..? Gold is gonna be 2000 tomorrow! Lol
Get real , CHARTSTER……Its going to be 4000 the day after……..EH EH.
That’s good news!
I reckon if the Yen has a major rally then gold will. they have been very well correlated for 4 years and especially in the last 3 years since September 2012.
Looks like it’s ready to go…
http://stockcharts.com/h-sc/ui?s=$XJY&p=W&yr=5&mn=9&dy=0&id=p01906469242&a=411218747&listNum=1
Its interesting that oil is an easy trade it seems by that I mean you buy the breakout it pops 25% and you sell it, well done, yet if that was gold nobody would have sold cause its going to da moon you know, lol
Apply the same approach to gold, silver and the miners!