Gary continues to be in the bullish camp for the precious metals
We focus on the precious metals and why Gary continues to think that this slow move up is showing more of a bull market move than just a bear market bounce.
Below is the silver chart referred to at the onset of the interview.
Click download link to listen on this device: Download Show
Image is updated as some of you were having trouble displaying the chart. We hope this helps.
Was it a drive-by shooting or a hit and run?
Hillary jumps out of her limo in front of a Trump building in Vegas, trashes Trump and then dives back in her limo and speeds–all off faster than you can say oral sex in the oval office! So we must try to understand her haste?????
Was she worried Trump might come out and engage her in an extemporaneous debate over things that really matter—or maybe worse; get invited in for a cup of coffee only to see Bill coming off the elevator with a smile on his face–all caught on camera! After all, what happens is suppose to stay in Vegas.
I know, this is off point, but this officially marks the beginning of silly season in presidential politics. I suppose Hillary’s next big move will be decorating Trump Tower with toilet paper. The only risk, of course, is blow back from the Greenies.
Totally OT.
+1
I don’t comment too often but I’d like to point out some things. I have watched the general markets tick for tick for over twenty years and the PM markets tick for tick for 10. I think Gary is going to be correct here. I also think he’s very correct with the couple of times he’s mentioned this bear market in PM’s may have been manufactured to facilitate a huge bull market at some point. Here’s some things I’ve noticed that haven’t been discussed on the show.
1) Some the better/most solid PM mining companies have had run here that far outstrip GDX and GDXJ. Think stocks like AUY or HL (one of doc’s “sentinelstocks”). We have not seen this for a long time and it’s circumstantial evidence of accumulation for the long haul.
2) Lately, we’ve been seeing large volume spikes in gold and silver yet the price barely moves. This is strange. Almost as if one team jumps in to buy and another team steps in and sells and sells and magically there’s a perfect equilibrium of buyers and sellers in spite of large volume. You need look no further than silver today. If Gary’s manipulation theory is correct, the reasons for that are obvious.
To me there are two things I’m watching like a hawk. First, Friday is options expiration and the mining companies have gone well above their “option pain points.” How will they handle it this week? Will it be different than what we’ve seen over the last two years. 2) Same thing goes for expirations at the end of the month for COMEX and LBMA. Will it finally be different? If they are, we may be on to something finally.
Many thanks Dutch.
Will you please allow Gary to talk…
thanks
Al:
Sounds to me as if you and Gary are almost in the same place. Gary mentions the fact that a intermediate correction looms in several weeks if we continue up and “traders” should be watching for it. Long term accumulators like yourself may not get out but on the next intermediate bottom or thereabouts, you will be buying more. Sounds like where I’m at and even though there is a degree of hope in that position, Gary’s logic is hard to argue with. Thanks for a good interview!
Looking forward to 530 pm eastern time to see Dem debate. I think lincoln chaffe or jom webb could do well in debate . Chaffe is well spoken , a more moderate democrat on some issues . He should rise in polls , and both could attack Hillary for her hypocracy . My investment in American Express is finally moving up. best to you all S
Hillary is not a hypocrite: “Bill is the greatest husband and father I know. No one is more faithful, true, and honest than he is.” 1998 🙂
I’ve tried viewing the chart Gary discussed in Chrome, Firefox, and IE. It shows an error with “displaying image 001.png”. Can it please be reposted?
Great interview, as always.
I saw the same but I can see the chart now. The guys have fixed it. Thanks Al’s IT team!
Gold is today trying to challenge the 1169.80 high from mid to late August 2015. Not quite there yet – currently topped at 1168.50 today.
OWL…..I had that CAT GUT feel two weeks ago, and posted the same……….Claw….lol
Ross Clark would agree with you on the change in the exuberance of the latest gold rally and he is a pretty cautious type of guy:
http://talkdigitalnetwork.com/2015/10/this-week-in-money-20/
Thanks Gary, for the ongoing great comments and insights.
I remember Rick saying several times that when the gold bear market ends, almost no one will believe it until it starts to get away from them.
Even if we have normal corrections from here on, It seems like we are at that point?