We are in for some slow weeks ahead for the markets
Doc and Cory Fleck chat about the outlook for the markets up to the Fed meeting on December 15th and 16th. Don’t expect there to be any significant movements baring some major event.
Click download link to listen on this device: Download Show
PF, that’s a tough call. Normally the miners should make a bottom first. I don’t see why it would be different this time. For the miners, December should be a good time for an interim bottom or trade. Of course, it could also be THE bottom for some but I still believe we’ll have one final bottom for many of them later in 2016. I don’t want to get too cute and not take some position in the miners early in December.
Larry edelson says that the bottom in gold could be near or March.
http://www.moneyandmarkets.com/must-see-chart-eyes-gold-now-74196#.VkOepnarTnA
Could be.
Bottom can only be confirmed when gold is way up and years in the future. Otherwise it can just make another low and nullify the previous low. Just like we know year 2000’s $252 is a low.
Doc, how low do you think SA can fall. We’d better get some.
BB; no hurry if you’re a long term holder. I believe in 2-3 months, SA will be a 5 or lower.
Holy smokes! How low do you think GDX will go?
Bill, I can’t tell right now but we will be no higher then we are now in December. We in all probability will see GDX at 12 in December.
Doc, I don’t own any SA now, but I want to load up when gold finally bottoms, perhaps @1020 or so. I do own Pretium which is next door to SA. Which do you prefer?
BB; that’s a tough one. I would say SA when you just look at technicals. They’re both in the process of moving lower. I’ll most likely take a position in both come December.
PVG has much richer veins than SA, and may be able to build its own mine in 2 years. SA will have to find a major to joint venture its mine. They might also be taken over at any time by a major.
TURD F……..AT usawatchdog…., if anyone cares.
discusses………..300 to 1 crimex………..and fed rate hike.
I like Turd F. and will go check it out. Thanks Contrarian’s Contrarian Frank.
That interview makes me wonder if Greg is not working for gold promoters.
Turd explains paper/physical, Greg exclaims this is a revelation to him, hmmmmm.
Hes been discussing this market for how many years? PM is finite, how the heck could he be shocked? He has known how it works for years.
Heck Turd even explained the federal reserve is not part of the federal government.
Really sounds like a pumper to me.
I still like his interviews tho, just sayin
Maybe someone could say “you just figure that out bb?” lol
Everyone at this moment , needs to do their own DD, bb.
This is for bird (A.L.)—months ago I mentioned that we would have a good chance to see TCK at 1-2 dollars. Currently, TCK is breaking down again and the charts still strongly suggest that view.
3-4 is almost a slam dunk for TCK.
Nice. I’ve been waiting and waiting for a position in Teck but wanted a confirmation that the commodities had bottomed or would bottom soon. Vale is also feeling the hurt with this commodity rout. Sometime Doc, let me know what you think about Turquoise Hill.
Ex; like most of these resource stocks, there is no indication of any significant move to the upside in the near future. The path of least resistance is down and you should see it challenge the low in the next 2-4 weeks. Remind me to look at it when it double bottoms to see what the technicals say then.
DOC,
Where do you see the price of PAAS in 2-3 months? As usual, THANKS.
All The Best,
JIM
Thanks Doc. That does seem to be the present trend. I’m excited to look for good entry points into a number of these mining stocks and will be watching for them to test their old lows.
DOC,
Continuing my thought process with PAAS, instead of just a price forecast update, can you share some of the things I should be looking for with PAAS over the coming 2-3months. This would be similar to a TCK example you gave me last week. I’m trying to get more experienced on what technical factors to look for & consider which leads to either the price increase or decline. THANK YOU!!
All The Best,
JIM
Jim, PAAS is on the top of my list to purchase in the future. I do know that PAAS will move down to 6 again. My hope is that PAAS double bottoms in the future at about 3. If we close below the last weekly low around 6, we’ll go lower. I may take a position when we get down to 6 and then have a rigid stop if we break lower. then I’ll look for prices at about 3-4.
My worry is that these companies will accumulate large debt and even silver price rises later, it is too late for them. I am not sure any of them has hedged, I stop reading their financial now since it is too depressing. If they do that now, it will ensure they worth nothing in the future. Survival of company may not make them profitable in the future.
By silver going this way, pure silver producers have to go bankrupt. The market ignores their survival and push them to the brink disregarding the shortage of physical metal once they go belly up. Market has a mind of their own. I am truly scared of buying miners. I have no base metal mines either. The market is become mad.
tweedy is on holiday………govt day off
THE WHOLE THING IS FAKE !!!!!!!!!!!!
Yes, we can see it since it is slapped on our face. But we really cannot do anything. We can get out of the gold market , but this is exactly the rigger want us to do. It is why I never predict when and how high gold will go. It is not a free market. But is there free market any more?
I got out of trading gold, not buying physical gold………….I’m no fool, this ship is dead in the water, and as mighty as the fed is as a central bank they are backed up against the wall…….they don’t know what to do, they shouldn’t have never met with Barack Obama two years ago and took the price of gold down now they are fucked! Paper is only good for one thing and the whole world knows what that is……..and my computer system is still flashing green for gold! DAMN FOOLS!
Here’s John Williams to break it all down:
https://www.youtube.com/watch?v=AQ8nebtMPGU
Then they have succeeded.
Sorry……….I’m still buying physical gold!
Ok it make sense though.
Platinum……….200 bucks cheaper than gold…….just saying……….
Jerry,
Do you have a favorite platinum coin / bar that you collect?
All The Best,
JIM
I like platinum graded coins……….but, you can pick these coins up , without extra premium if you are patient. I see this as a good time to pick up graded coins now, because a lot of people will be throwing in the towel. Buy at spot, do not pay the extra.
I like all the different denominations, started in ’97, my most favorite would be the
$100 one oz. platinum US., burnished are nice. Always look for mintage quantity , the less minted is usually better.
This is about powers in the west against gold/silver and nations in the east holding gold. The west ‘must destroy’ any appetite for gold to save the ‘paper substitute’…if
not, the west loses. At this moment in time, there is no free market! We can guess, read the charts, compare yesterday with today, but not of that really matters. The war is on, and it is a matter of time, shortly, before the market crashes, and the economy of the west fails.
‘simply said’
wyn
The problem of this strategy is time. Time is like integrator. It accumulates the incremental increase in the money supply. Then it will pressure gold up. After a period of time , gold will have to rise, otherwise demand will dry up the above ground supply. Unless they buy back the gold they have sold, they will have less and less in hand to supply the difference between the Mine production and demand. Low price will reduce the supply and increase demand. Then there will be a gold fast rise period and a weak period and the time gap in between will shrink.
Lew and Tom Take Apart GOP Debate Number Four
Does anyone know if there has ever been another ten down days in a row for silver?
It has declined precisely to important fork support (so far):
Here, I took a Schiff fork to the entire 4+ year downtrend and added some parallel lines (dashed):
There seems no panic selling, the volume is lower than usual.
I am bidding $5.49 for Sprott silver trust in TSX. It is the current bid price. Tomorrow will be in.
I never heard 10 days in a row decline at a straight line. I will take the chance. This is too artificial.
That will prove to be a great price and is just .33% above NAV.
Let’s hope silver drops the 11th day in a row.
Yes, I would like a scary plunge.
The 11th day decline, especially considering the small magnitude of the decline, is statistically improbable. The volatility of silver price must result in some up days. Unless someone big makes it so. It is like to see tossed coin face up 11 times in a row. It is hard to do unless you put it on the ground instead of tossing it.
Silver is proving mathematics is a fake science 🙂
Matt, here is the answer
http://kingworldnews.com/we-are-now-witnessing-unprecedented-action-in-the-war-in-the-silver-market/
I am no big fan of Zero hedge but I saw an article there today which seems to be close to reality.
http://www.zerohedge.com/news/2015-11-11/energy-credit-risk-spikes-back-above-1000bps-no-one-putting-new-capital-here
Canadian dollar weekly:
I don’t watch news a lot. I mostly browse web for information. I don’t see much report about the progress of Russian and Syria government troupe against ISIS. How about people here who do watch the television? DO you see anything? I saw quite a few reports about the current situation from Chinese news. In Google, even I type Russian Syria news, it seems only political stuff shows up not military. It is pretty quiet.
This is unrelated topic.
These are several samples but I have no time to translate.
THE WAYS THINGS ARE GOING NOW………..I JUST CAN’T SEE THIS WHOLE THING GOING ANOTHER YEAR……………IT’S JUST TO MUCH FRAUD!
AMERICA: ” THE UNITED STATES OF THE BANANA REPULIC “
Year end should be interesting……..just fold up the card table and wait. The fat lady is in warm up. I have to agree with MARK, ….a banana plantation might be in order.
IF WE MAKE IT to the end of 2016 without a major collapse……………I will be amazed!
LOOK AT THE BALTIC DRY INDEX NOW AT 599 POINTS……………it’s over!
Big V bounce, at 9:45…….nice recovery….maybe to soon to start the banana crop
We filled that August gap-down on the S&P. I just doubled my principle and share position on SPXS with a 6% stop on 1/2 of those shares.
Doc, do you think the metals or the miners make a final bottom first? Or do you expect them to bottom at the same time?