So do many hosts. Big Al often gives his thoughts on the markets as well.

Personally, I enjoy hearing Cory’s thoughts, and it happens to be their show, so they can conduct it however they see fit.

Cory is being a voice of reason. There is nothing wrong with that as a host/moderator.

You have a good point. I know Corey is very knowledgeable, but I hear his commentary more as an echo to the guests. I think he might want to trim that “echo” slightly and give a few more seconds to the guests. I hope that doesn’t sound too harsh Corey….it comes from a good place. For some interview tips take a look at how the hosts on BNN operate.

$879…….down a little more……..

I bought $100 worth of BITCF the other day and because the float is so small my sissy purchased caused the price to go up 150%.

Guppy,
That’s not actually what I said. I said at major turning points (intermediate or yearly cycle lows) the technicals will fool you. Everything will say that price is going lower and that’s when the turn comes.

Perfect case in point. At the bottom in August everyone was bearish on oil. The technicals were pointing down, the fundamentals were pointing down, it then bottomed and rallied 35% in 5 days.

The same happened for gold in July.

+1 Agreed with a big yeup!

ditto……….and well said……………

Jerryck,

The only guest yesterday that wasn’t a daily guest yesterday was Avi, so I assume you are referring to him.

Here’s the way I see things.
1) I find Avi to be an extremely valuable contributor and I value his calls. He is very open minded to various scenarii playing out in various markets. I suspect this has SAVED him and others who follow him a bunch of money.

Avi doesn’t get all his calls right, but no-one does (G.Soros is wrong roughly 1 time out of 3….)
More importantly, more often than not, Avi seems to be on the right side. I’m not one of his subscribers, but I tend to consider that I “closely” track what he says and does.

2) Maybe you considered that Avi’s comment that J.Sinclair has (quote) “no clue” was lacking substance and was disrespectful.
Personally, if someone is wrong for 4 yrs talking about something, that suggests to me that he doesn’t have much of a clue. That doesn’t mean that he’s an idiot. It means that he doesn’t have much of a clue. That’s in my book. People can disagree w. that, I understand.
Those who bought gold near the top under strong advice of “gold” legends are now down about 40-45% from these levels. Which means that to go breakeven on these purchases near the top, they need a 70%+ move up in gold.
Those who bought silver near $50 are down 72% from that level. To breakeven on this last purchase, they need the price of silver to more than triple from here.
If some of us are ok with that, I, personally, am not. Everyone’s different.

*******

One of the investors I respect the most is S.Druckenmiller.
Why ?
Because in 40+ years in the business, he doesn’t have any single year down.
Not any single year down.
NOT ANY SINGLE ONE.
Even when he made a massive bet on the Nasdaq at 1hr from the exact top back in the days – his most horrible call – he still finished the year up. This commands UTMOST respect.
But the key to S.Druckenmiller’s performance is that, IMHO, among other factors, he recognizes when he is wrong – QUICKLY. If he had kept his long Nasdaq position for 3,4 yrs…. he would have been down under seriously. He could have justified that by saying “I believe in US tech companies, the internet is here to stay etc…” and he would have been right.
But buying near the top and not recognizing the tide is turning is NOT what I expect from someone advising or managing money. I have no issue w. people being wrong. Those who recognize this quickly are typically those who last in the business.

Recall Warren Buffet’s golden rule of investing: don’t lose money.
Easy but tough, right ?

So back to the topic of gold and J. Sinclair & others.
I have lots of respect for J.Sinclair. I truly do.
But he’s been wrong for 4 yrs. That’s quite a long time.
To me, that doesn’t mean he knows nothing or is an idiot. He actually knows a lot of things. But being wrong for 4 yrs means that he has no clue when it comes to gold prices. And to this, I totally agree w. Avi.

Here’s one of my favorite say of Wall Street:
“A fool and his money are soon parted”.

Nothing wrong w. being wrong, IMHO.
But IMHO, it’s wrong to do nothing to correct it when one realizes one is wrong.

My 2 cts.

GL to all investing/trading.

LPG

Soon. Nothing goes down in a straight line. Except silver.

Seriously though, I do expect a bounce, maybe a very large bounce, but then it’ll be straight down to single digits for the $Hui over the next 6 months. I think smart money would have come in a long long time ago if this wasn’t the case. Not to mention the dramatic deterioration in miner:gold ratio. They are being discounted for bankruptcy, and there is a reason for that. This isn’t the case of a panic low or margin call. This has been going on for 8 years!

agree………

I think Gary is right about gold’s not going below 1000. That was the top back in 2008 and it should give support now.

Most welcome Jerryck,

I hear your perspective on J. Sinclair. As I’ve mentioned, I’ve got a lot of respect for him/his overall achievements – truly.

I think that a few people on the site just don’t want to hear about “trading” and that’s ok with me.
I consider there’s a lot of confusion around what “trading” is – I bet if I ask 10 people what trading is I’ll get 10 different answers – but that’s another topic.

What I can say though, is that although Avi’s various services could be considered as purely “trading” – and again, I’m not one of his subscribers – I would highlight that he takes long-term positions TOO.

When silver reached $14 recently, he said (in a nutshell) “I’ve bought silver for the first time in years as this is the beginning of my buy zone”.
He also said over the week-end that he expects either a re-test of the low OR maybe a move toward his long-term target of $12.75 for the low to be made. This is also a level where he would deploy capital for the long run. To me, this doesn’t sound like “trading”.

So again, I understand that some of us don’t wanna hear about trading, that when they see/hear Avi, they think “trader”, but IMHO.. there’s much more to it. Much more.
Lastly, some of us are never ok w. the IF/THEN scenarii. I understand that.
It is an intellectual exercise. And if one is not used to it in the first place, it can be tricky to relate to it immediately.

Let me just finish with something a bit more broad on the PM topic, just to take a long-term perspective.
FWIW, I believe that gold, like silver, is insurance. Insurance against whatever people want feel it is an insurance for.
Personally, I like that physical bulion is capital that is not within the banking system. This is what I value most. So based on that insurance concept. people should not try to play too smart w. gold. That’s why I like Mark Farber’s approach: he buys some every month, without worrying about the price, and he rebalances the weight within his portfolio annually. What I like about this is that it takes away the speculation aspect of it.

When you hear me commenting once in a while on the site on gold, it is not so much that I care about gold itself: it is that its level has implications for the sector in which I deploy capital to invest: the PM sector.
So to me, the physical is for protection, the paper (ie equities) is for investment or even pure speculation.

My 2cts.

LPG

SPXS is a buy right now and appears to be putting in a reverse H&S bottom.

I used to buy in June and sell around new year. It hasn’t worked for so long

Dow weekly:

http://schrts.co/W8dsNJ

The problem with Frisby’s reasoning is that gold gets its strength from the very thing that weakens other commodities – a contracting economy.

At roughly 25 barrels of oil per ounce, gold is near a three-decade high. However, it would have to go up another six-fold to reach its 1930s oil valuation. Food for thought.

Gold is a monetary metal par excellence. The outperformance is a function of its monetary role, not jewelry or industrial demand. I expect gold to trounce all other commodities until Bretton Woods is replaced because of this.

bb=BIG boobs…………………Sorry people the devil made me say it .

Bill..If you have 10% to spare, just do it , could gold drop further > yes , but bear in mind gold at todays price is cheap…So yes if you have 10% to spend , do it & hide it in the cat litter tray it will be safe there………..

THEN GO LONG SILICON!!!!!!!!!!!!! ……..sorry, irishtony made me say it.

Mark – it has always been the same. The game belongs to a special few and the SEC exists to protect them from you not you from them.

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

Just goofing with you Mark.

I agree with you, Excelsior, Dragonite & Matthew.

In this case, going long the ‘fakeness’, I would say, is buying physical gold for the long-term. Among other possible ways of fading the fakers and going long real things that aren’t so easy for them to control.