Here’s what the bottom of markets look like
Gary kicks off today with his comments of what bottoms look like in markets. He is saying the best move today is not watching the markets when things get volatile after (and possibly right before) the Fed announcement.
Click download link to listen on this device: Download Show
now now
FWIW……….not worth reading………
Free speech is a good thing………….
THANKS AL AND CORY FOR A WONDERFUL SITE ….appreciate all you do……..OOTB
What blog is that?
Don’t worry folks, I ain’t going anywhere… Anybody here like NSRPF(Jay Taylor’s favorite stock) ?
JJ thinks he is leaving us, but no one leaves here anymore than they leave the Hotel California or the Roach Motel. We are trapped! Abandon all hope ye who enter herein.
“Roach Motel” Mr. Barzini?
Common man!
I personally enjoy your comments, by the way!
Al, as you live in Washington you may not have seen the Roach Motel ads for a contraption that you put on the floor. Roaches check into the Roach Motel but they never leave. Those who live down south in roach country know those ads. Perhaps I should’ve said the Bates Motel instead. I assume we’ve all seen Psycho.
Now, that was an interesting movie!
No offence to Jay but at one time he was espousing san gold.
YES
BB..YES I like NSRPF
Hi Dan and Bonzo Barzini –
I’ve not really followed Novo Resources. What aspects do you find appealing about their project, management, share structure, potential takeover target, etc..?
I think this a great site. I stopped going to other blogs long ago as you have some of the best expert advice right here and it helps make sense of the market so you don’t end up making panic decisions. Rick focuses on short term trading profits while Gary focuses on the short to medium term. Doc always a lot of sense and predicts things quite accurately. Chris is a great common sense guy who makes you think about the big picture.
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Good thoughts Paul L!
+1
I will try to post two charts per week but Listener can’t open them …
funny………… good one……….. 🙂
Lol…. +1
thank you Paul L!
original jj – you are sounding hurt. We all feel hurt or down at time… or downright depressed… best to shrug, drop your shoulders, take a deep breath and try to forget about anything that is hurting you.
I can tell from your posts that you feel passionately about things… and I suspect that you would miss posting here as much as many others would miss you if you stopped posting here.
I think with any internet site the thing to do is to pause for thought, count to 100 and then go make a cuppa before posting… We all say things, or have things said about us, online that can look far more harsh in print than perhaps they would face to face. I have lost count the number of times that I said stupid things online. I probably could win an award for doing so.
As for the general world event stuff… I quite like it. There are some sinteresting people posting on here and it is great to hear their views on things. I can miss all the American political stuff thought but, ssssh, don’t share that with any of the Americans here 😉
Remember, life is just a game that nobody wins so just, every now and then, drop your pants and slide on the ice.
Nice post Bob.
original jj says, “I believe you shouldn’t be allowed to share what you believe.” That, ladies and gentlemen, is nonsense. What makes more sense is this: Al is the master here, he will decide what should be posted or not, because it is his blog.
ditto
as a NON technician here I could understand your frustration… i tend to focus on fundamentals!!
Try Investor Hub
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THis is a wonderful SITE…..AND THANKS AL AND CORY FOR THE GREAT JOB AND HARD WORK YOU DO DAILY……………………….OOTB
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Sorry to see you go.
I personally enjoy the give and take. Speaking of “take” I had to take HH off for good as some (unfortunately too many) of his comments were simply not acceptable.
No follow-through on gold today.
Certainly was SB Dave!
42% in two days for AXU:
http://schrts.co/Ddbav2
I’ll bet you’re sorry you sold that 3%, eh?
😉
I am, but that didn’t stop me from selling more today. 😐
I’ll get my shares back though. Maybe not at a better dollar price but I am confident they will be cheaper relative to the juniors I bought with the proceeds.
Rebalancing is a good idea but speculators have to be careful not to overdo it and should have a core position that is left alone.
I use a very similar approach Matthew. There are times where I buy a big position to hold for a once and done “trade”, but normally I tier into a position over time on the way up or down in price. Then I sell into strength in a tier out approach. Many times, I’ll continue to hold a core position at a much lower cost basis after executing this approach and roll the proceeds into another asset that is more undervalued.
Good heads up on Alexco Brian. I missed the move, but have had some nice gains in a few of my other mining stocks. Longer term, I’ll likely have about a dozen good Silver mining companies in the mix with my other investments, and Alexco will be one of the silver companies I own for the next bull run.
Just as a heads up:
Streaming companies have been doing more and more deals to get financing to the mining community, and I’ve been watching more larger sized deals being done. I agree with Rob McEwen that streaming deals may impact the mining company’s future profits, but you got to admit that the Streaming companies are filling the void left by sparse capital available to move projects forward. Longer term I still love the streaming company business model.
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Glencore In Streaming Talks Over Peru And Chile Mines – Reuters
Thursday September 17, 2015
Did you get in? Where do you think is a good target? Or is this one of your long term holds that you have held for a while?
I was already in and bought a lot on the scary down days below .30. My best price was .25 or .26 (it’s fuzzy now).
If you’re nimble you can probably trade the move up, otherwise I would just hold until the indicators start to turn.
It is overbought on the daily chart but looks like it is going to trend higher, possibly much higher, before consolidating or correcting. I will lightly fade the whole rise until it looks untenable. Then I will consider selling heavily. A substantial core position will be held through thick and thin, probably for years.
http://schrts.co/HbKFe5
Welll done sir.
Btw & fwiw, what I consider a “substantial” core position varies from one situation to the next based on many factors. It’s usually not less than one-third of my original position and often one-half to two thirds.
For me it is 30-50% of my original position that I’ll leave in core, but as you say….it differs from asset class to asset class, and is company specific for me in how I want to “weight” my private EFT. 🙂
I always use my experience with GORO to highlight the risks I am sometimes willing to take. I started buying in ’06 at around $1.30 and had to average up (I hate that in this sector) to an average price of about $2.30. It reached just above $6 before the fall of 2008 hit and I sold nothing. On its plunge back to $2 I bought a little more (the details are now vague as to the amount and price). By the middle of 2010, it hit $10 and I finally sold enough to take back my initial investment (production started on July 1st that year). The vast majority of the rest was sold in the mid $20s but a little was sold in the teens and a tiny amount above $30.
So I kept a roughly 75% core yet still had a free ride since I waited for a quadruple before taking my capital back.
I’m tempted to try it again now that GORO is $2.50 again and still paying a monthly dividend.
Thanks for sharing that story. It reminds me to hang onto maybe a larger positions on my winners but also take some profits into the strength. Yes a few on here have mentioned GORO a few times somewhat recently. I’ll have to give that a look see…
You had to be laughing about waiting almost 4 years to take my so-called “free ride!”
Yeup….that’s a long wait… but it was free in the end….
There was a press release, but is just another astonishing drill result.
Alexco Drills 5 Meters (True Width) of 7,462 Grams per Tonne Silver (240 Ounces per Tonne) at Bermingham, Along With Other Significant Silver Intercepts
But the CEO makes a readable, understated claim at the end:
“The discovery of this open ended, very high grade silver and gold bearing zone within the Bermingham area may be a game changer for the future of Keno Hill. Clearly, grades ranging from approximately 0.8 kilogram to more than 7.0 kilograms per tonne of silver with up to 2 g/t of gold over sizable true widths in several drill holes is a significant discovery. Although Keno Hill is historically known for the presence of local high grade zones, the style and tenor of this discovery is consistent with zones often associated within the largest and highest grade silver deposits in the District. Simply stated, this is a relatively shallow, very high grade discovery in the immediate neighborhood of large, high grade silver deposits; namely the adjacent Hector Calumet, Elsa and other historical deposits.”
I’ll bet JJ’s charts did not predict AXU’s 40% rise the last 2 days, but we did discuss AXU 3 days ago and liked it.
I think the Fed will say it is too early for a rate hike and they need more time to review future improving economic data to decide for a possible hike in December or early next year of 25 basis points. The market is just not high enough. We need to be close to 2100.
ditto
This is way off course but wanted to mention it….
The name frank frank reminded me of a new hot dog restaurant that opened in central Florida called “franks a lot”…scantily clad waitresses in gay 90’s outfits…17 different hot dog dishes…
One hot dog dish is enough for me unless we are talking brats!
Who is frank frank……….?
It’s getting confusing because we had Franky (now Xing Xang), Frank From Moscow, and now frank frank. He also said “Ditto” like CCF.
Let’s change the name of the blog to Speaking Frankly…..
Silver is looking better than gold but let’s see if the Fed’s decision keeps it that way.
http://schrts.co/smWxef
Burkina Faso coup: Compaore ally named ruler
http://www.bbc.com/news/world-africa-34276807
Does this affect your thoughts on True Gold Mining in any way? I’ve been interested in nibbling at a position, but mentioned in our past discussions I was concerned about the political environment there. It may be a non-issue for True Gold though.
Just curious as to your thoughts on potential implications.
Based on my shallow understanding of the situation and a decent understanding of the price action, no, it doesn’t affect my opinion negatively.
I got several buy orders filled today and am considering trying for more.
Sounds good. Thanks Matthew.
5.7 % yield on AT&T and it did a nice dip today.
I am going to put a buy in on ECA today. Gone from about $22 down to about $5 in the past year. I am averaged in at $14.5, Chart looks like a buy at $7.55,
Jason, not sure you trade or hold. This company has big debt and it cannot change its negative cash flow yet, not for a long time. It might be take over target though.
The fantasy trade for a quick flip would have been to buy on the way up at $6 and sold at $7 for 15% profit.
Hmm. I am waiting to see what happens after Aunt B. announces her interest rate hike. Some think oil might go back down and if that happens I might be able to get in at a better price towards the end of the year.
Yellen is Aunt B. Funny.
I still like Mother Felon = Yellen = Mother Fellen = MF = 🙂
lol Made my hay fever feel better. Thanx!
Exactly what I wanted to see.
Important to watch now.
Holding rates at zero should scare the market. Very important next 1-5 days in here.
KUDOS to Gary Savage on being the only one of the 3 guests to predict no interest rate rise yesterday.
It must ruffle a few feathers that Peter Schiff was right again. Bill Bonner was right too. No one that I know of was as certain as those two that the Fed would not raise.
Yes , Peter Schiff is right again. He has unique capability to judge what government will do. He also say there will be another QE later. Let’s wait and see.
On yesterday’s market wrap…..Gary said the Fed would not raise. Nice call.
Yes he did; good call Gary.
Dollar just fell to 94.88 to below the 200 day as expected. Oil and gold on the way up. I added more gdx today.
I might buy JDST if it gets down around $7 for a short flip.
Yep…also the miners are rallying nicely. I think the others pundits must of had their charts upside down. I wouldn’t call the last month sideways to down on the miners. I’ve got some nice gains now. Thanks Gary!
Gary, nice call yesterday. You are not a hindsight guy. Keep up with good work.
Andrew Hoffman on FSN says mining industry has nowhere to go but down. 12 mins 19 secs into interview: People’s thoughts please.
Agree, in a longer term
Andy and Andy ………always a good listen to…… “)
if he sells bullion then whats he talking about….
Agree Agatha – btw Ned Schmidt on the same site says precisely the opposite. Gold and PM stocks should take off by year end.
FWIW I too will no longer post here whats the point?
I’m at a blog that’s 100% technical but I had to be invited by a member and provide charts for two weeks to be excepted, I can’t invite anyone until a year passes.
There are blogs out there that only deal in making money and religion is never ever a subject or politics or manipulation (nobody cares) I’m a chart junkie so I’ll crawl back to the site where technicals rule over bull sh!t OPINIONS