Gary Savage – Wed 16 Sep, 2015

Gary thinks this is a big day for gold!

Gary is kicking off today with some very bullish comments on gold and the commodities. He is offering a special guarantee to those who subscribe to his newsletter. Click below to check it out.

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Featuring:
Gary SavageAl KorelinCory Fleck

Comments:
  1. On September 16, 2015 at 8:20 am,
    Paul L. says:

    Oil has broken above the 50 day as I expected it would very soon after the long consolidation. It is headed toward 48 to 50 soon and then to the 200 day within a week or two if we can get a massive short covering panic. This should get the s&p above 2000 soon. I have buying XOP and BP. XOP has recently fallen from 56 down to 35.

    • On September 16, 2015 at 8:30 am,
      Big Al says:

      We asked rick this question today.

  2. On September 16, 2015 at 8:22 am,
    Dave says:

    Definition of mutually exclusive.

    Gold and up.

    • On September 16, 2015 at 8:28 am,
      Big Al says:

      Right now anyway you seem to be in the minority

  3. On September 16, 2015 at 8:25 am,
    Matthew says:

    I agree with Gary.

    • On September 16, 2015 at 8:27 am,
      Big Al says:

      Lot of folks seem to right now.

    • On September 16, 2015 at 8:28 am,
      Gabriel says:

      I agree with Matthew so I agree with Gary.

    • On September 16, 2015 at 8:32 am,
      Frank from moscow CCF says:

      ditto +2

      • On September 16, 2015 at 8:50 am,
        SD Marc says:

        ditto

        • On September 16, 2015 at 9:17 am,
          Excelsior says:

          I agree with SD Marc’s “ditto” of Frank From Moscow’s “Ditto +2” of Gabriel’s agreement with Matthew, about agreeing with Gary.

          Cheers!

          • On September 16, 2015 at 11:27 am,
            Frank from moscow CCF says:

            And we agree with you ….”.EX” TRA…………….

          • On September 17, 2015 at 8:41 am,
            Excelsior says:

            🙂

  4. On September 16, 2015 at 8:30 am,
    Paul L. says:

    I missed the GDX move but will try and start a position on a dip.

  5. On September 16, 2015 at 8:34 am,
    Matthew says:

    The dollar is not confidence-inspiring.
    http://schrts.co/flwjuO

    • On September 16, 2015 at 8:37 am,
      Paul L. says:

      The dollar is having a small bounce from the 200 day and should break down quite soon within a few days.

      • On September 16, 2015 at 8:43 am,
        Matthew says:

        I can’t get live quotes on the dollar but right now it’s just .01 above yesterday’s (rising) 200 day. I agree that it should break down soon if it isn’t doing so now.

        • On September 16, 2015 at 8:58 am,
          Paul L. says:

          It is at 95.39 now -.39%. 11:58am est.

  6. On September 16, 2015 at 8:35 am,
    Dai Uy says:

    In my geographical area, AG still unavailable, as it has been for several months, at a reasonable premium. Not the case for AU.

    • On September 16, 2015 at 8:44 am,
      lawrence says:

      I was waiting for my 100 ounce bars for almost two months in 2008. Scotia bank did not even take order. Eventually I paid a premium from Royal bank and got the bars.

    • On September 16, 2015 at 8:51 am,
      Big Al says:

      Interesting, not the case over here.

  7. On September 16, 2015 at 8:36 am,
    Jay Linn says:

    Technician and chartist Clive Maund is talking about ‘Laugh in your face’ contrarian indicator because people would now laugh at you if you ever talk about investing in gold sector…

  8. On September 16, 2015 at 8:36 am,
    PF says:

    Gary, where can I find this sentiment data about gold?

    • On September 16, 2015 at 8:46 am,
      Gary says:

      sentimentrader.com

  9. On September 16, 2015 at 8:39 am,
    lawrence says:

    Gary, I second your opinion. If today is not the reversal, we are not too far from it. I remember you predicted that this summer WILL be the weakest period in this cycle and it turned out true (so far). Hope you are right on this prediction as well. Regardless what, I am staying in. So far, all my persistent holdings have worked even include China “A” shares. Most of my positions are added in the last three years and I am holding to the end. For PM shares my loss is around 90%-30%, I will wait for them to turn positive. I still hold a profit with ETF and physical.

  10. On September 16, 2015 at 8:41 am,
    Gabriel says:
  11. On September 16, 2015 at 8:42 am,
    Gabriel says:
    • On September 16, 2015 at 8:53 am,
      Big Al says:

      So which scenerio is going to be correct, Gabriel?

  12. On September 16, 2015 at 8:43 am,
    Andrew de Berry (Rev) says:

    Gary sounds genuinely excited. I’ll just pretend that I bought all my stock at current prices! Thanks for your report.

    • On September 16, 2015 at 8:53 am,
      Big Al says:

      Pleasure Reverend.

  13. On September 16, 2015 at 8:51 am,
    Silverdollar says:

    Avi Gilburt’s comments to subscribers last Saturday seem only slightly more cautious than Gary’s. I’m uncomfortable enough to buy some HL this morning. Also like URA……….
    http://news.goldseek.com/GoldSeek/1442347416.php

  14. On September 16, 2015 at 8:51 am,
    SD Marc says:

    Rev
    exactly ha. hahaha..me too!!!

  15. On September 16, 2015 at 8:53 am,
    bb says:

    Nice if Gary is right but I dont see 20% as a big deal, (especially in 2 months) with the risks involved I dont feel profits are much worth even mentioning until 100% at least.
    (I know alot of guys here are after 2-5% trades etc, 2 itch his own)

    Market just opened and we have a few up close to 10% in 2 hours, I expect 100s of % gains in gold stock, other wise they not worth it.

    • On September 16, 2015 at 8:56 am,
      Big Al says:

      Market just opened? Where are you bb?

    • On September 17, 2015 at 8:46 am,
      Excelsior says:

      If you had together some base hits with 7-20% gains, then it doesn’t take many of those trades to be far in excess of 100% gains. Now on smaller explorers I just hold them to let them do multiple triple digit increases, but we need a rebounding metals market for that to happen, along with more mergers. However, this is not that kind of market, and if you want to make some coin at present it is only happening by trading both the long and short side of the trends.

      To each their own though, as I know many people are just looking to position in quality companies or ETFs when the sector hits it’s bottom. Nothing wrong with that other than you needing to have kept waiting the last 4 years and counting.

  16. On September 16, 2015 at 9:06 am,
    silverbug dave says:

    O love it when Gary gets excited!

  17. On September 16, 2015 at 9:23 am,
    silverbug dave says:

    I do love it when Gary gets excited about things.

    However, is there not still a possiblity that this gold rally is a pricing in of no Fed rate hike? That could make it a bit like the rally to around $1365 in late 2013 on the no taper decision, a one day daily up cycle. It’s a bit of an I will eat my hat moment!

    I hope that Gary is right though – and at least his opinion has been forming over a number of weeks which gives it some strength.

  18. On September 16, 2015 at 9:27 am,
    silverbug dave says:

    Hi Gary what happens if the $1000 in the mining stocks goes above $1200 and then goes back below $1000?

    I am guessing that the refund would be only if the $1000 never goes to $1200, because if it does go to $1200 at any time, that would still be a decent trade and you could get out there.

  19. On September 16, 2015 at 9:52 am,
    harry says:

    this is another big time prediction on gold, well I’ll take the opposite of that trade probably near week’s end.
    you said same on oil when it popped up to 50’s. It churned and headed back down well below 40. Now it’s trying to get back to 50.

    we’ll see but I do give you credit for not fence sitting.

  20. On September 16, 2015 at 10:44 am,
    Bob UK says:

    Can I hold my hand up and say that I have no idea.

    My gut tells me to sit and wait until we hear from the Fed and then, if they don’t raise rates, to jump onto gold and silver… and I suspect oil also…

    If they do raise rates then, well, I don’t know. I honestly don’t.

    I admire Gary’s call here – what he says here and on his website – makes a lot of sense but I don’t see how anyone can invest prior to such an important date. I want to but, um, I lack the courage.

    • On September 16, 2015 at 11:04 am,
      Big Al says:

      I also would not do anything until tomorrow. Strange things can happen.

    • On September 16, 2015 at 11:09 am,
      Brian says:

      Perhaps it will be a non-event?
      After waiting for several years, expectations are pretty much already accounted for in prices. There could be some volatility before/after, like the purported short-covering in gold this morning.

  21. On September 16, 2015 at 11:06 am,
    Brian says:

    TOPIC: (AXU, AXR). Interesting move on Alexco with very heavy volume today. As usual, I have no clue why. Anybody have a guess?

    • On September 16, 2015 at 11:39 am,
      Matthew says:

      Team shorty pants probably thought they were going to short it to zero and are now getting an education they won’t forget. If so, they might think twice the next time they’re certain about the imminent demise of a junior miner.

      • On September 17, 2015 at 8:47 am,
        Excelsior says:

        Nice!

  22. On September 16, 2015 at 12:01 pm,
    cmc says:

    I won’t be doing jack until the central planners finish their brouhaha and announce the result.

  23. On September 16, 2015 at 1:28 pm,
    Jason says:

    If not we will be waiting for Gary after school lets out. 🙂

    Hey BIG AL. My Bit Coin stock is up 85% today.

    BITCF 6,925 0.0029 +81.25% 20.0825 +9.0025 -238.22

    But I am still in the hole.

    • On September 16, 2015 at 4:16 pm,
      Big Al says:

      How do you feel about investing in that company?

  24. On September 16, 2015 at 3:24 pm,
    JMiller says:

    Kitco interview with Jordan Roy-Byrne (09-16-15) about precious metals and miners.

    https://www.youtube.com/watch?v=gz3prznHKLk

    • On September 17, 2015 at 8:53 am,
      Excelsior says:

      Good interview with Jordan, and I concur with his thought process.

  25. On September 17, 2015 at 7:07 am,
    Agatha says:

    how many X do you have to understand & look at history to see that gold goes HIGHER in a rate hike scenario…