Live coverage on the Fed rate hike
Here are a couple links to some live coverage on on the Fed’s rate hike.
Click here to watch coverage from Bloomberg.
Click here to the MarketWatch coverage.
More importantly what does everyone here think of the 25bp increase and the lack of market movements…
25 demographics?
Gold dropped and then spiked
So far, anyway!
Loving it baby!
Where’s the cartel? Why/how is gold going up? Maybe someone needs to file missing persons reports (what are their names, anyway??)
What do you mean Chris? Gold has to go down every day because of cartel? Somedays gold has to go up. Cartel cannot fight the long term trend.
Ha! Good one Chris. We had a beautiful technical set up on metals though and yours truly picked off the bottom almost to prefection. Now I just hope it holds but so far so good and I am having a GREAT day!
Bird, hope you don’t sell again like previous bottom calls 🙂
What previous bottom calls Lawrence? I think you are referring to Gary. Most everything I have ever written on gold the past 4 years related to short side trades. It is only very recently I got bullish.
I remember you mention several times that silver was bottomed during the last year. Did you buy?
oh — Maybe they took a late lunch and are back at their desks. Gold is $10 off its high now.
If you are talking about TRADEABLE bottoms Lawrence, then maybe. But certainly not FINAL bottoms. I hope you know there is a big difference between the two. Maybe you don’t read me that accurately but to my recollection I have never called a final bottom in either gold or silver.
Don’t you know I am a 99% metals bear?
I guess this is not the final bottom call either.
Nope. It is not. My longer term target remains 968 on gold.
I have to say it is very possible. Good luck. I am ready with my cash.
Do you think it will happen at the end of this month?
You mean 968?
Not a chance. That is down the road. I am a buyer of miners right now. The charts are turning bullish and the price outlook leading into January is positive. Even the pullback on gold today has not upset my apple cart as gold posted healthy bullish reversal candles.
Smart, capture the short term tax loss selling low, right? I got some HSE for oil and waiting for more oil stocks. I am also have bid for sprott silver ETF. But I doubt I will get it.
The same place your forecast of stagflation (about a year and a half) went. Disappeared.
Gone, Wrong.
Another place to look for the cartel would be at wrigley park, since the cubs and rate hikes can be found there.
Wise Ass.
Suggest everyone consider subscribing to Craig Hemke’s podcasts at TFMetalsReport.com ($9.99/mon or less for a full year…and I don’t get a comish…I’m just a regular subscriber 🙂
He’s the best i’ve seen at timing the moves (not necessarily the magnitude) in gold within pretty good bounds (few days/ week or so) and he explains clearly and factually how the manipulation works.
To see the manipulation of interest rates, foreign exchange, etc. (Google bank fines for manipulating forex, LIBOR, etc., etc.) and dismiss the potential, even likelihood, of gold manipulation is just being purposefully ignorant, IMO.
BTW, take a look at the CME’s discount program for central banks here http://www.cmegroup.com/company/membership/files/CBIPFAQ.pdf
Nope, central banks (owned, in most case by private banks, remember) can use the CME to manipulate markets openly, but gold?
No way. Just not possible that that could be happening.
they control it both ways Chris…..
confidence regained………………joy to the world……………….lol
“the Lord as come” to finish the song.
Much to do about nothing. All the business channels are giddy about their supposed expertise.
Expertise, heck that makes you and I absolute geniuses!
funny.
The Fed is raising rates in order to ‘end’ ZIRP and to begin to provide themselves some maneuvering room out of the policy corner into which they had painted themselves in their thrashing within a credibility trap of lack of reform, top down stimulus, and thereby a continuing lack of broad, organic recovery.
From Jesses
Thanks for these links Cory…perfect timing as I was trying to find some live commentary on it.
Thanks, Agatha
Wells Fargo up their mortgage rate to 3.5% but their saving rate doesn’t go up.
The Canadian dollar retested the day’s lows on the Fed statement and appears likely to have bottomed. For those who can see a 60 minute chart:
http://schrts.co/DxF3OX
I guess you are saying oil and commodities are bottomed too. Canadian dollar follows the commodity price especially oil.
Right on Matthew. That just happens to be how I see it too but am waiting for a confirmation on WTI which looks like it will post a minor double bottom tomorrow.
trying to say demographics are going to kill us so says Harry Dent
As expected, the dollar sold off on the announcement:
(60 min UUP)
http://schrts.co/3kQT4o
Sarcasm? You might have been the only one who felt that way. The long trade is so crowded lately that nobody can even turn around anymore without bumping into another bull in the arcade.
No, not sarcasm but I was speaking for myself.
Good call man. You were right.
The Fed is one and done.
Election year in 2016 and the weak global economy will not let them raise rates.
Yellen’s best go to line is:
I can’t tell you………..this or that. LOL
Because she has no clue.
wrong…. yellen wants to create inflation… take from the govt and give to THE banks..
US bonds could implode…
Agreed at least up a couple is points, Agatha
The equally weighted NYA (NYSE):
http://schrts.co/3kQT4o
I think we’re entering a period in which stocks will trend down despite any good economic news. Investors didn’t appear to care about bad for the last few years as they were busy pricing-in future good news. Now they are done and it’s time to “sell the fact.”
Of course, the current move up could last the rest of the month/year.
I am thinking about shorting high yiend bond. Anybody has an opinion about ProShare ETF SJB?
https://ca.finance.yahoo.com/echarts?s=SJB#symbol=SJB;range=5y
Oh sod it, I was WRONG again…Re the rate hike….Why am I always so bloody wrong when it comes to making calls ? Still I will console myself with the knowledge that with the law of averages rule I will at some stage get it right.
Tony, Are you talking about this fund? I feel junk bond will explode soon. Unless government bail the shale producer up, they have no where to go but bust. If FED has to drain liquidity, it is deadly for the junk (high yield ) bonds. This will be worse than sub prime mortgage, at least there is a house to back it up. For a lot of companies, they borrow to waste or pay themselves with nothing left. In good time the bond will be rolled over but in bad time, it will lock up and default.
I placed some bid at 28.55 for SJB.
Keep the silver low loader gently revving Irish!
Behave Andrew…..HaHA
There is always hope Mr Irish at least for old guys like us
Al…With age comes hope.
Nice to see Ag back above $US 14. I was getting a little bit nervous, there. The silver stocks are up 3x silver today (Alexco +9%, for example)
Yep Brian, it’s a good day for the Silver miners. Here’s a few I own or am watching:
Hecla Mining Co. (HL) -NYSE
2.09 Up 0.17(8.85%)
Coeur Mining, Inc. (CDE) -NYSE
2.7416 Up 0.1816(7.09%) 3:52PM
Mandalay Resources Corp. (MND.TO) -Toronto
0.70 Up 0.05(7.69%) 3:21PM EST
Americas Silver Corporation (SPM.TO) -Toronto
0.1250 Up 0.01(8.70%) 3:41PM EST
PureFunds ISE Junior Silver ETF (SILJ) -NYSEArca
5.3799 Up 0.2699(5.28%) 3:01PM EST
First Majestic Silver Corp. (AG) -NYSE  Watchlist
3.41 Up 0.22(6.90%) 3:53PM EST
Silver Standard Resources Inc. (SSRI) -NasdaqGS  Watchlist
5.30 Up 0.20(4.03%) 3:53PM EST
Pan American Silver Corp. (PAAS) -NasdaqGS  Watchlist
6.8440 Up 0.4240(6.60%) 3:55PM EST
Silver Wheaton Corp. (SLW) -NYSE  Watchlist
12.86 Up 0.31(2.47%) 4:00PM EST
Global X Silver Miners ETF (SIL) -NYSEArca  Watchlist
18.87 Up 0.57(3.11%) 3:52PM EST
Excelsior, Tahoe might be one you want to add.
Absolutely, I like Tahoe and a number of other silver stocks, I just got sick of posting… 🙂 I own Hecla, Coeur, Mandalay, Americas Silver Corp, Jr Silver ETF (SILJ), Avino Silver and Gold, and a few other gold companies that have nice silver credits.
OK Dragonite, here’s a few more I’m watching (and I’ll include SilverCorp too):
Silvercorp Metals Inc. (SVM.TO) -Toronto  Watchlist
0.71 Up 0.03(4.41%) 3:55PM EST
Tahoe Resources Inc. (TAHO) -NYSE  Watchlist
8.74 Up 0.34(4.05%) 4:02PM EST
Hochschild Mining PLC (HCHDF) -Other OTC  Watchlist
0.76 Up 0.04(5.56%) 12:48PM EST
Great Panther Silver Ltd (GPL) -NYSE MKT  Watchlist
0.49 Up 0.03(5.38%) 3:34PM EST
Endeavour Silver Corp. (EXK) -NYSE  Watchlist
1.45 Up 0.05(3.57%) 4:02PM EST
Excellon Resources Inc. (EXN.TO) -Toronto  Watchlist
0.24 Up 0.01(4.35%) 3:38PM EST
Fortuna Silver Mines Inc. (FSM) -NYSE  Watchlist
2.38 Up 0.07(3.03%) 4:02PM EST
Fresnillo PLC (FRES.L) -LSE  Watchlist
673.50 Up 14.00(2.12%) 11:35AM EST
MAG Silver Corp. (MVG) -NYSE MKT  Watchlist
6.64 Up 0.13(2.00%) 4:00PM EST
Sabina Gold & Silver Corp. (SBB.TO) -Toronto  Watchlist
0.74 Up 0.04(5.71%) 3:59PM EST
Avino Silver & Gold Mines Ltd. (ASM) -NYSE MKT  Watchlist
0.9144 Up 0.0124(1.37%) 3:49PM EST
Kootenay Silver Inc (KTN.V) -TSXV  Watchlist
0.2150 Down 0.0050(2.27%) 3:42PM EST
Aurcana Corporation (AUN.V) -TSXV  Watchlist
0.11 0.00(0.00%) 3:42PM EST
IMPACT Silver Corp. (IPT.V) -TSXV  Watchlist
0.1350 Down 0.0050(3.57%) 3:42PM EST
Sierra Metals Inc. (SMT.TO) -Toronto  Watchlist
1.02 0.00(0.00%) Dec 15
Santacruz Silver Mining Ltd. (SCZ.V) -TSXV  Watchlist
0.10 Down 0.02(16.67%) 3:41PM EST
Dolly Varden Silver Corporation (DV.V) -TSXV  Watchlist
0.13 Down 0.01(3.70%) 3:42PM EST
Minco Silver Corporation (MSV.TO) -Toronto  Watchlist
0.3750 Up 0.0050(1.35%) 2:59PM EST
* I just realized the biggest mover of the day was Defiance Silver up 18% since it is a penny stock and thinly traded. But promising…. Thanks Bob M. for the heads up.
Defiance Silver Corp. (DEF.V) -TSXV  Watchlist
0.0650 Up 0.01(18.18%) 3:14PM EST
This one is for Dan Calgary if he’s out there…..
We used to discuss Wildcat Silver….who became AZ Mining……well now they have changed names again to Arizona Mining. They had a nice jump for the day.
Arizona Mining Inc. (WLDVF) -Other OTC  Watchlist
0.2310 Up 0.0310(15.50%) 1:12PM EST
Like the name Defiance Silver Corp. 🙂 🙂
Bob Moriarty pointed it out to me and Matthew mentioned he like it as well. If you go spend some time on their website you’ll see what a monster discovery they may have close to surface and a large land package that had previous production very near by in the past. It’s a speculative exploration play, but it’s stock does get a little attention from time to time, and should be a good “optionality” play for their ounces in the ground if Silver prices recover.
Panoramic View of the San Acacio Deposit
https://www.youtube.com/watch?v=DEqtbHzMeYw
What worries me is that their website won’t come up for me (typically not a good sign), but it may just be my computer. They did just have a news release in mid Nov.
Yeah, I’ve tried to access the Defiance Silver website from a few different sources, including 321gold under the links section. Can anybody else click on this website?
Maybe it is just down, but my experience in the past hasn’t been overly positive when websites go down on a miner.
Still it was the top performing Silver stock of the day because it went up a penny, so people are still trading it.
Well… This may be one explorer that finds themselves in the middle of a financial restructuring. For now they may be one of the casualties of the inability to access financing, but the asset and project still looks amazing as you can see by the video posted above on that link. However, based on these last 2 press releases (posted below), they look like they’re going through a changeover of management.
This will be an interesting story to follow, because if they reorganize under a new name and get some money in the bank to ride out the last of this bear market, then I’d be a buyer. Glad I waited though.
Defiance Silver Corp. Key Developments
Defiance Silver Corp. Appoints Michael Kinley as Chief Financial Officer
Nov 17 15
Defiance Silver Corp. announced the appointment of Michael Kinley to the position of Chief Financial Officer. Mr. Kinley has been the President of Winslow Associates Management &Communications Inc.
Defiance Silver Corp. Auditor Raises ‘Going Concern’ Doubt
Oct 28 15
Defiance Silver Corp. filed its Annual on Oct 28, 2015 for the period ending Jun 30, 2015. In this report its auditor, Davidson & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
OK,
I stand corrected. I finally went back into my trading account and realized that Americas Silver Corp was actually my top performer in the US OTC version of the stock. Up over 19% so it takes the crown for the Silver stocks today.
I was posting the tickers in the Silver stocks above that most traders probably used, but neglected to look at how the currency changes may have affected the percentage increase in certain stocks. CFS would be disappointed with me right now….
Americas Silver Corporation (SMNPF) -Other OTC
0.0925 Up 0.0154(19.97%) 3:41PM EST
so SMNPF up almost 20% today. Nice.
….And I can post it’s website but I won’t………. 🙂 🙂
Instead I’ll post their corporate presentation…….
http://www.americassilvercorp.com/i/pdf/presentations/presentation20151128.pdf
Gogold, Primero, Torex and even Barrick all took off as well (TSX). All up between 7% and 12%.
Bird I like Gogold, Primero, and Torex. I could see Torex getting taken over soon by a Mid-tier producer.
coeur..?? watch out.. higher costs …?
I figured it would be a first mover when Silver prices moved higher. It was up 7% today and is very liquid, so I can trade out quickly if there is trouble.
Coeur has also had a couple of interesting acquisitions lately, and are part of the Silver ETFs, so they aren’t going to 0 anytime soon. I’ve been thinking of swapping it out with another like First Majestic or Silver Standard Resources.
I like Keith Neumeyer as a CEO so it will probably be First Majestic for more of pure Silver play.
Good point Brian. Its almost always that way with miners magnifying the move. I had a great chart I would put up but cannot link it for some reason. Maybe one of the other guys can. It is a Stockcharts overlay of gold versus gold mining stocks for the past 6 months and it is a real beauty. What the chart highlights is how fast miners move when gold is starting to rise and it proves that almost all the gains are made in the very beginning of the move. In other words, if you don’t act fast during a bullish turn you end up missing most of the action.
The housing market here is Whacko, semi detached houses with 16 foot wide lots with a parking pad are selling for a cool million. The standard reply these days is that’s what everyone pays and you need a place to live. The robots won’t even be noticed by the zombies. DT
Ah…But will the zombies notice the robots , or the people who are turning them into zombies
where r u..??
I think the Fed is intervenin – yes, manipulation – to push up the markets today. They can’t have the conventionals crashing within seconds of Yellen putting the rate up.
But there is always next day, next week, next month.
With a weak global economy, the Fed has a problem, big problem.
Yep, I think it will take a few days to settle down… Probably not until the New Year will we get an idea of what is happening.
Or is it conventionals to the Moon for 3 months?
BOB…No it’s Peke to the space station for the next six months.
******** INTEREST RATES RAISED AND THE BALTIC DRY INDEX BREAKS TO RECORD MAKING LOWS ********
http://www.bloomberg.com/quote/BDIY:IND
I can’t wait to see what the BDI will close at today! It is now officially down hill from here…………and wait until after Christmas! There is going to be a lot of sad faces!
Mark…Sad faces & empty ships.
They’re empty now!
Good point – it had not crossed my mind. If the BDI is this low just before Christmas what will it be like come Jan/Feb. Ouch!
By the end of this week?
Ha ha! Presumably all the ships full of Christmas tat from Santa’s factory in China will no longer be needed.
Got that right!
Chinese steel factories should send iron bars to the US. The US could then bend them and send them back to China for straightening.
Maybe we should start shipping all that junk back to China. That will do wonders for the BDI.
Lets set the record straight here, shall we?
Chris Temple has been dead wrong in two fronts.
1. Stagflation would occur.
2. Interest rates would rise when the cubs won the world series.
So your smug comments on the cartel are inappropriate.
So if you dish out the arrogant comments, be prepared for some push back.
………….by the end of the year, in two weeks!
TIDAL WAVE of layoffs to come in Q1 of 2016………as well as Q2!
******* DOW CRASH TO 6000 BY END OF 2016: HARRY DENT LIVE NOW ON FOX BUS CHANNEL *******
He has been some what right so far!
He said that everything is in a massive bubble right now and are now going to pop……..he seemed more serious than ever before!
Not a big fan of Harry Dent………..but I have to say after that so “sure of himself” interview, I have to agree with him…………I never seen him more serious, even the female host said the same!
Al, Bob Moriarty posts here why can’t you get him to come on your show. Is it because you don’t agree with what he is saying or he has turned you down. DT
If you would rather not say just be forthright. DT
yawn……. .25 demographics are going to kill us