Daily Market Wrap – Wed 6 Jan, 2016

Weakness is taking over the markets

What more can you say. The US markets are dropping over 1% each day and oil just closed at a new low not seen for 11 years! Gold is getting a buy and continues to move closer to $1,100 but the real play is finding those solid mining stocks.

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Featuring:
Richard PostmaAl KorelinCory Fleck

Comments:
  1. On January 6, 2016 at 1:47 pm,
    Frank from moscow CCF says:

    Silver -gold ratio……………..78 to 1………

    • On January 6, 2016 at 7:23 pm,
      Chris says:

      Much higher and it will show severe stress in the financial system……….always has in the past.

      • On January 7, 2016 at 5:18 am,
        Frank from moscow CCF says:

        THURS…………GOLD UP……..$1106…………….NY.

        • On January 7, 2016 at 5:19 am,
          Frank from moscow CCF says:

          Ratio going higher

        • On January 7, 2016 at 5:20 am,
          Frank from moscow CCF says:

          TODAY THE STRESS BEGINS………………………….JMHO

          • On January 7, 2016 at 1:10 pm,
            Frank from moscow CCF says:

            Another down day for the DOW……over 300pt……

        • On January 7, 2016 at 5:20 am,
          Frank from moscow CCF says:

          Silver still at $14 per oz.

  2. On January 6, 2016 at 2:17 pm,
    Agatha says:

    Please have LPG on more often- as a regular… he is very knowledgeable & articulate.

    • On January 6, 2016 at 7:01 pm,
      Big Al says:

      We plan to do that.

  3. On January 6, 2016 at 2:19 pm,
    Agatha says:

    if its not endorse and not criticize… what is it…?!
    its not geo political for the 11th time…

  4. On January 6, 2016 at 2:26 pm,
    Agatha says:

    thanks doc!

    • On January 6, 2016 at 3:03 pm,
      RICHARD (DOC) says:

      Agatha; you’re welcome.

  5. On January 6, 2016 at 2:54 pm,
    Dragonite says:

    FED Fischer has admitted market manipulation by the FED. Can anyone argue against him and clear the FED from manipulation?

    http://news.goldseek.com/GoldSeek/1452112241.php

    • On January 6, 2016 at 6:40 pm,
      Big Al says:

      Interesting read, Dragonite.

      Thank you

    • On January 6, 2016 at 7:05 pm,
      Mark says:

      Quick answer………………NO!

  6. On January 6, 2016 at 3:03 pm,
    Sd marc says:

    Gold will move when it’s good and ready!!! Gold makes the rules….u and we and I dont…the world the west is going to get a history lesson..refresher!!! Pay attention!!! It’s coming…brutal

    • On January 6, 2016 at 3:09 pm,
      RICHARD (DOC) says:

      Marc, indeed it is coming—-I’m starting to get just a whiff of it. I believe we’re now finally in the last innings of this gold move down.

      • On January 6, 2016 at 3:11 pm,
        Dragonite says:

        We must be close to the low.

      • On January 6, 2016 at 4:37 pm,
        Brian says:

        See the chart I posted below, please.

      • On January 6, 2016 at 5:56 pm,
        Sd marc says:

        Happy new year DOc and the entire Postma family!!! Peace!!

        • On January 6, 2016 at 6:33 pm,
          RICHARD (DOC) says:

          Peace, Marc.

    • On January 6, 2016 at 3:10 pm,
      Dragonite says:

      To run an economy, we have to follow economic laws. Fight the law will result in serious consequences. It must end badly.

      • On January 6, 2016 at 6:11 pm,
        Big Al says:

        Agreed Dragonite.

  7. On January 6, 2016 at 3:19 pm,
    Mark says:

    BALTIC DRY INDEX continues to fall………now gown 467 points!

    • On January 6, 2016 at 3:23 pm,
      Mark says:

      Down 467 points!

  8. On January 6, 2016 at 4:36 pm,
    Brian says:

    SPOCK has declared: 90% sure that both gold (the metal) and the associated PM stocks have bottomed

    http://goldtadise.com/wp-content/uploads/2016/01/xau.png

    • On January 6, 2016 at 4:40 pm,
      Dragonite says:

      Very bloody even it is the bottom. Stocks have been very disappointing.

      • On January 6, 2016 at 4:48 pm,
        Brian says:

        PM stocks? Really? See my post below.

        • On January 6, 2016 at 5:03 pm,
          Dragonite says:

          I mean long term. PM stocks delivered no return while PM has quadrupled.

    • On January 6, 2016 at 6:09 pm,
      Big Al says:

      Thanks Brian.

  9. On January 6, 2016 at 4:38 pm,
    Brian says:

    DOC
    Did you see that spike in CLAUDE at the close? This stock will be a leader out of the bottom (Stage 2)
    Brian

    • On January 6, 2016 at 4:47 pm,
      Brian says:

      Stage 1/2 PM PRODUCING miners were very STRONG today (on a TERRIBLE general market day).

      Claude:
      +12.35%
      Richmont:
      +5.99%
      Lake Shore Gold:
      +10.06%
      Klondex
      +2.59%
      Kirkland Lake Gold
      +7.2%

      JNUG (3x GDXJ)
      + 4.94%
      (just to give perspective on trying to pick the “out-perfomers”)

      • On January 6, 2016 at 6:07 pm,
        Big Al says:

        We picked Claude and Richmont, thanks to Doc, quite a while ago.

        • On January 6, 2016 at 6:20 pm,
          Brian says:

          Yes, Al. DOC has been consistent with his frequent and informational comments about both Claude and Richmont.

          To be very clear: I would NOT know about Richmont without DOC. Period.

          • On January 6, 2016 at 6:47 pm,
            Excelsior says:

            ….and I would not have given Kirkland Lake such a close look without your comments earlier in the year Brian. Thanks man.

            I like every company on that list you posted Claude, Richmont, Lake Shore Gold, Klondex, and Kirkland Lake. I still have not ever taken a position in Richmont, but I’ve traded the rest this year. Now I’m wishing I would have had taken a position in Richmont a while back. There are just too many good deals right now!!

          • On January 6, 2016 at 8:24 pm,
            Glenfidish says:

            If I may add and if I’m not mistaken, Matthew was the first or one of the first to talk about Claude resources a good while back.

            Keep those discussions going I’m lurking in the background.

          • On January 7, 2016 at 5:21 am,
            Excelsior says:

            Exactly. Matthew first put Claude on my radar back in 2012. I remember celebrating that they poured their millionth ounce of gold as a great mile marker, but then the stock went down. I remember posting about how they were selling their Madsen Gold project in 2013 which was wise, or the improvements and exploration successes they were having in 2013/2014 with the Santoy Gap and Santoy 8, and Big Al said they had a “nice little mine”. They’ve been making steady improvements for years, but suddenly in 2015 everyone saw them as a turnaround story just because the management had a change up. They’ve been doing the right activity for years, but they got caught up in a declining Gold bear market. It is fitting that they should come out of the gates first before most of the other gold equities.

            Thanks again Matthew for all your insights.

          • On January 7, 2016 at 7:02 am,
            Matthew says:

            Thanks guys. Here’s an old monthly chart that I put up a long time ago and it looks better than ever.
            http://schrts.co/ZG0GhA

    • On January 6, 2016 at 6:08 pm,
      Big Al says:

      I believe that we discussed that Brian

  10. On January 6, 2016 at 6:12 pm,
    LPG says:

    Hope everyone is well.

    Just sharing some perspective​…

    Although I understand some might be proven right a few weeks down the in getting excited by the PMs, I’m gonna share what I’ve told Richard/Doc today:
    Gold started to run this week almost 1yr to the day where it started last year.

    If you look at last year, gold started to run from the get go on the first trading day of the year. This year, same thing.

    Instead of going all-in with geopolitical explanations – I personally don’t subscribe to them – please consider:
    x There was no North Korea H-bomb buzz,
    x There was no Iran-KSA escalation
    BUT
    x Conventional markets were a bit weak to start with – same as this year. They moved sideways all month… then decide to move up at the end of Jan.

    The rally in both gold and silver lasted about 3 weeks:
    x Gold topped on Jan 22nd. From the Jan 2. low to the top on Jan 22. it was a +$140 move (and Jan 22nd marked the high for the year)
    x Silver topped on Jan 21st – one day before gold.

    As for PM stocks, I’ll repeat what I mentioned a few times here, and that I heard form Chris Temple first:
    [MOST QUALITY] gold stocks bottomed in 2013. Either during the summer 2013, or in Nov-Dec (gold did a kind of re-test of the $1180 region in the last week of December in 2013).

    Silver names are a different story. The few names I’ve got in my radar made multi-year lows in Sept 2015.

    GL to all investing/trading.

    LPG

    • On January 6, 2016 at 6:32 pm,
      Brian says:

      LPG
      Do you believe this to be a TRADEABLE event for either the metals or PM stocks?
      I ALWAYS appreciate your perspective
      Brian

      • On January 6, 2016 at 6:51 pm,
        LPG says:

        Hello Brian,
        I apologize but I am not sure I understand your question correctly.
        Can you specify which event you are referring to please ? Then I might be able to provide you some input.
        Best,
        LPG

    • On January 6, 2016 at 7:11 pm,
      Excelsior says:

      LPG – Great post, and I agree that this bounce in gold was technically overdue, and I don’t attribute it to just the geo-political concerns (although they aren’t hurting gold).

      Here’s a re-post of a thread from Dec 28th where Gabriel & I were expecting a Jan rally:
      __________________________________________________________________________

      On December 28, 2015 at 2:18 pm,
      Excelsior says:

      Doc, do you place any credence on the idea that Gold has double bottomed in the $1045.40 area and may actually rally in the month of January?

      Historically the beginning of the year Jan/Feb is a strong seasonal period for the PMs.

      On December 28, 2015 at 2:21 pm,
      Excelsior says:

      We were discussing yesterday that Gold may rally up to the upper trend-line in the falling wedge pattern…..somewhere in the $1142-$1146 zone. It seems like January would be when that would happen, but I know you’ve been anticipating a grind down to a lower low in Jan.

      Just curious what you think about the idea that Gold is ready for a mini-rally for a few weeks, instead of the decline.

      On December 28, 2015 at 2:46 pm,
      RICHARD (DOC) says:

      Excelsior; excellent point and I wouldn’t be surprised at all if your scenario happens—after a rally, the odds could be a final move lower into spring/summer. My thoughts favor what you just mentioned.

      On December 28, 2015 at 4:48 pm,
      Gabriel says:

      Again, this is what I am expecting …

      https://www.tradingview.com/x/jQCJvtv3/

      • On January 6, 2016 at 7:14 pm,
        Excelsior says:

        Continuing that thread…….
        ________________________________________________________

        On December 28, 2015 at 7:24 pm,
        Excelsior says:

        Yes, Gabriel, it was actually our discussion yesterday and the Clive Maund article and the great charts you posted that I was referencing.

        http://www.clivemaund.com/article.php?art_id=68

        Matthew also posted a good chart a week or two back on the blog highlighting the potential double bottom in Gold. I replied that $1044.70 was a strong support target I had for over a year, and Gold had bounced right off the $1045.40 level (close enough), so that would be a logical place to build a strong layer of support. The question is, will it get tested and break down to the $1000 level later in 2016 as many pundits feel may happen.

        Jordan Roy-Byrne & Doc & Clive have been pointing out the descending Wedge or falling wedge pattern in Gold for a while now, and it seems most likely we’ll bounce out of this double bottom and head up to the trend line. Your chart is spot on with a visual of this…..”

        • On January 6, 2016 at 7:24 pm,
          LPG says:

          Thanks for these Shad.
          Best to you and best wishes for 2016.
          LPG

          • On January 6, 2016 at 7:26 pm,
            Excelsior says:

            Right back at ya man. It’s gonna be a good year!

  11. On January 6, 2016 at 6:13 pm,
    Mark says:

    ********** BREAKING NEWS: CHINA HALTS ALL TRADING AGAIN, DOWN ALMOST 8% ***********
    Dow Futures falling fast again!

    • On January 6, 2016 at 7:48 pm,
      Ebolan says:

      Yup, after it hit the trigger they shut their market down for the day. Their market is down 12% in the last 4 trading days.

  12. On January 6, 2016 at 6:16 pm,
    Mark says:
  13. On January 6, 2016 at 6:18 pm,
    gary says:

    I have been saying that all the intervention would just cause another market crash. It’s better to let markets take their natural course and stair step down. But the Fed had to try and prop the market up after QE3 ended and again so they could start the rate hiking cycle.

    Stocks need to finish the move into the 7 YCL and get everyone bearish. Then we can start the bubble phase of the bull market.

    • On January 6, 2016 at 6:38 pm,
      Mark says:

      I agree…………..wonder what they are thinking now, tomorrow will be an interesting day!

  14. On January 6, 2016 at 6:22 pm,
    gary says:

    I sure missed the call on oil though. I thought we had the 3 year cycle low back in Aug. Obviously it’s going to ocurr sometime this year instead.

    • On January 6, 2016 at 6:27 pm,
      Mark says:

      You bet………..now look at gold and silver, on the move!

    • On January 6, 2016 at 7:17 pm,
      Mark says:

      Oil heading to 32……..will we see a 29 handle on Friday?

    • On January 6, 2016 at 8:40 pm,
      Glenfidish says:

      Gary

      Good to hear from you! Im yet to see someone who has not hit a blank from time to time.
      As far as oil goes, I have stated in the past that 30/35 wit weekly close would give me the signal the bear is done. Some believe we get into the high 20’s possibly intraday.. My thoughts remain the same, wti 30/35 weekly close and gold below 1000 going into election year. I like September/October for a final low in gold/miners.

  15. On January 6, 2016 at 6:25 pm,
    LPG says:

    Thanks for the heads-up Mark re: China.
    Best,
    LPG

    • On January 6, 2016 at 6:27 pm,
      Mark says:

      Sure!

  16. On January 6, 2016 at 6:28 pm,
    Mark says:

    It’s going to be a long night!

  17. On January 6, 2016 at 6:34 pm,
    Mark says:

    ****** NOTE: It only took 15 minutes this time in China for the markets to tank! Wow!

  18. On January 6, 2016 at 6:41 pm,
    Mark says:

    ******** WAIT A MINUTE……didn’t China just spend 22 billion to prop this market up!

    • On January 6, 2016 at 6:55 pm,
      Big Al says:

      Have you listened to the interview with Richard Fisher?

      • On January 6, 2016 at 7:12 pm,
        Mark says:

        YES I DID………………just goes to prove that I was right all along about all the gold manipulation! IT’S ALL RIGGED!!!!!!!!!!!!!!!!!!

        • On January 6, 2016 at 7:16 pm,
          Mark says:

          ….and so is everything else! THANK YOU MR. FISHER FOR ADMITTING IT! ( in my Muhammad Ali voice ) I TOLD YA!!!!!!!!!! I TOLD YA!!!!!!!!!!!!!!!!!

          • On January 6, 2016 at 8:25 pm,
            gary says:

            Fisher just admitted that I have been right all along and there has been massive manipulation of the US stock market.

            It would be nice if they would now just get out of the way and let it do what it needs to do.

          • On January 6, 2016 at 8:47 pm,
            Birdman says:

            That’s ridiculous Gary. We all listened to that interview and Fisher did not admit anything like what you have been saying and none of his comments prove you were “right all along”. You are reading too much between the lines. Give it a rest man!

          • On January 6, 2016 at 10:12 pm,
            Big Al says:

            Bird,

            People can certainly believe whatever they want. Purely and simply a bad call was made. Who Cares?

          • On January 7, 2016 at 3:30 am,
            gary says:

            Bird,
            Nonsense. I said last summer that the interventions in the stock market to keep it propped up after QE3 ended would cause a crash and it did in Aug.

            Then I said the interventions to stop the crash and prevent the natural move down into the 7 year cycle low would just cause another crash, probably in January.

            Well here we are….

          • On January 7, 2016 at 3:38 am,
            Mark says:

            YES GARY……I remember, you did say that!

          • On January 7, 2016 at 3:47 am,
            Mark says:

            This guy Birdman is just mad because of all the turmoil that is now taking place……and the fact that these horrible events are happening at such a fast place! He is also mad that I said all along that you Gary were right, and the ONLY reason that you were not is because of all the manipulation! NOW………….he won’t even acknowledge what Fisher admitted this on CNBC!

          • On January 7, 2016 at 3:49 am,
            Mark says:

            I meant……..admitted to on CNBC!

          • On January 7, 2016 at 7:08 am,
            Birdman says:

            Of course they can Al. People can believe anything they like. Even the absurd is possible with enough alcohol and a fantasy of grandeur.

        • On January 6, 2016 at 7:22 pm,
          dragonite says:

          You, I as well, are right despite some self righteous people attacking us. These people will later kick themselves for not taking the historic opportunity. Or they may claim they get 100% of the up move again.

          • On January 6, 2016 at 7:27 pm,
            Mark says:

            You know it!

          • On January 6, 2016 at 8:17 pm,
            Mark says:

            I don’t know why but so many people seem to think that this collapse and whole end game is not real.

          • On January 6, 2016 at 10:13 pm,
            Big Al says:

            Oh, it I’d real at least for now.

          • On January 6, 2016 at 10:14 pm,
            Big Al says:

            You and who, Dragonite?

          • On January 7, 2016 at 7:56 am,
            Birdman says:

            Historic opportunity? What would that be exactly? Help me out here. I must be missing it!

          • On January 7, 2016 at 8:35 am,
            Dragonite says:

            Bird, you know as I do, the PM will go up and pass the old highs by far. You need to wake up the goldbug inside you.

        • On January 7, 2016 at 3:56 am,
          Mark says:

          Sure Birdman we can look at a lot of technicals and say that this will all reverse and pretend that these events are meaningless and that this can’t be happening………..but the bottom line is this – THIS SHIT IS COLLAPSING !!!!!!!!!!!!!

          • On January 7, 2016 at 3:58 am,
            Mark says:

            IT’S ALL BEEN FAKE, PHONY AND FALSE!…………………WE KNEW THIS WAS COMING…………….THERE WERE WARNINGS!

  19. On January 6, 2016 at 7:21 pm,
    Mark says:

    ********* MACY’S CUTTING 4,000 JOBS…….40 stores closing!

    • On January 7, 2016 at 6:00 am,
      Frank from moscow CCF says:

      I guess ….”shop till you drop is not in vogue anymore”

  20. On January 6, 2016 at 7:45 pm,
    Mark says:

    ******** JUST POSTED MINUTES AGO BY GREG MANNARINO ON CHINA BREAKDOWN **********
    https://www.youtube.com/watch?v=y3umrTaktcQ
    YES…………..it’s getting more and more serious each day now!

  21. On January 6, 2016 at 8:03 pm,
    MACDaddy (Jason) says:

    China got our market by the wontons.

  22. On January 6, 2016 at 10:23 pm,
    Mark says:

    Oil just hit 32.82……and falling!

    • On January 7, 2016 at 4:55 am,
      Dragonite says:

      Saudi just bombed Iranian embassy. Two major oil producers are at war.

      • On January 7, 2016 at 5:12 am,
        Frank from moscow CCF says:

        oops………..not good news………was that after the Chinese stock market circuit breakers went off……………

        • On January 7, 2016 at 5:16 am,
          Dragonite says:

          See zerohedge, it is in Yemen. Not sure when, -sometime today.

          • On January 7, 2016 at 5:37 am,
            Mark says:

            This was just reported on AlJazeera.

          • On January 7, 2016 at 6:29 am,
            Frank from moscow CCF says:

            Yee man………another one……..the plot thickens………

  23. On January 6, 2016 at 11:42 pm,
    Matthew says:

    Going DOW-N…
    http://schrts.co/Eej2pH

  24. On January 7, 2016 at 4:10 am,
    Mark says:

    ********* GOOD MORNING! PLEASE NOTE: CHINA REGULATORS CALLED AN EMERGENCY MEETING LAST NIGHT, AFTERWARDS THEY DECIDED: NO ACTION TO BE TAKEN!
    THEY DON’T KNOW WHAT TO DO! **********

  25. On January 7, 2016 at 4:14 am,
    Mark says:

    Look at Steve Liesman right now on CNBC…………….looking for excuses!

    • On January 7, 2016 at 5:15 am,
      Frank from moscow CCF says:

      who listens to him …………

  26. On January 7, 2016 at 4:15 am,
    Mark says:

    Where’s Peter Schiff !!!!!!!!!!!!!!!!!!!!!!!!!!!!

  27. On January 7, 2016 at 5:14 am,
    Frank from moscow CCF says:

    Trading ……CHINA ………closed after twenty nine (29) min…..

  28. On January 7, 2016 at 5:41 am,
    Mark says:

    You can’t even go to sleep anymore! There is so much happening……..lol.

  29. On January 7, 2016 at 5:44 am,
    Mark says:

    This guy Birdman is a Bird Brain! Notice there is always a guy like him around………..always in denial.

    • On January 7, 2016 at 5:47 am,
      Frank from moscow CCF says:

      Mark…………..on those retail sales employment figures………MACY CUT 4000 JOBS

      • On January 7, 2016 at 5:51 am,
        Mark says:

        Got ya………….I mentioned that earlier! Thanks!
        Macy’s store in my area is closing after 65 years!

        • On January 7, 2016 at 6:05 am,
          Frank from moscow CCF says:

          I saw that , sorry, ……I was going to add some more info….but decided not to…..keep up the great work……….should be an interesting open, and close.

        • On January 7, 2016 at 6:08 am,
          Frank from moscow CCF says:

          Hate to say it…………but, Macy has changed over the years…….and when they bought out Lazzarus (sp)….the stores started selling and providing a lot of junk . …JMHO

        • On January 7, 2016 at 6:21 am,
          Frank from moscow CCF says:

          The STORE CLOSING NUMBER IS a real story……………40 …..which will effect more than the 4000…….These stores are anchor tenants……..which draw shoppers. The others retailers will be effected also., as well as the mall owner.

          • On January 7, 2016 at 6:24 am,
            Frank from moscow CCF says:

            We have been talking about this for several years now…….commercial real estate is going to get some new space to raffle off.

          • On January 7, 2016 at 6:25 am,
            Mark says:

            Look out for a tidal wave of layoffs to come!

          • On January 7, 2016 at 6:26 am,
            Mark says:

            We ain’t seen noting yet!!!!!!!!!!!!!

    • On January 7, 2016 at 7:58 am,
      Birdman says:

      Bird Brain might be pushing it a little. Watch the dollar Mark. The world can change on a dime sometimes.

  30. On January 7, 2016 at 5:53 am,
    Mark says:

    *********** HERE’S PETER SCHIFF…….JUST POSTED! *************
    https://www.youtube.com/watch?v=0OjZneRpdtU
    Right again……….as things are moving fast!

    • On January 7, 2016 at 6:03 am,
      Frank from moscow CCF says:

      NO H. BOMB TODAY…………..wonder what the excuse will be today………..lol

      • On January 7, 2016 at 6:23 am,
        Mark says:

        Like Peter Schiff just said…………….and so it begins!

        Macy’s and all the rest………..the layoffs are coming!

        • On January 7, 2016 at 6:25 am,
          Frank from moscow CCF says:

          see my comments concerning commercial real estate……….other have been commenting on this………SAM ZELL for one.

          • On January 7, 2016 at 6:42 am,
            Mark says:

            Major store closings coming!

        • On January 7, 2016 at 6:27 am,
          Frank from moscow CCF says:

          YESTERDAY THE ……..H BOMB……….today the F BOMB……as the mall owners get the news of Macy.

  31. On January 7, 2016 at 5:58 am,
    Mark says:

    ******* NOTE: DOW FUTURES were down as low as 425 pts a few hours ago!

  32. On January 7, 2016 at 6:29 am,
    Mark says:

    Markets will open in 2 minutes………………..oh, oh!

    • On January 7, 2016 at 6:32 am,
      Frank from moscow CCF says:

      ringy dingy dong………………..or dang , dong, and gone…….

  33. On January 7, 2016 at 6:30 am,
    Mark says:

    Can gold hit 1120 today or better?

    • On January 7, 2016 at 6:43 am,
      Frank from moscow CCF says:

      might be to much to ask……….if it holds above $1100 …..new game ……

      • On January 7, 2016 at 1:12 pm,
        Frank from moscow CCF says:

        Held……&…..I think FRIDAY IS GOING HIGHER………

  34. On January 7, 2016 at 6:31 am,
    Matthew says:
    • On January 7, 2016 at 6:39 am,
      Frank from moscow CCF says:

      The added notes are interesting………sustaining cost………approx.$1200….. just skimmed thru the notes………

      • On January 7, 2016 at 6:42 am,
        Frank from moscow CCF says:

        nice average volume on the stock….

    • On January 7, 2016 at 8:23 am,
      bb says:

      I think tmm is producing 80k onces per anum and is selling for about 20 cents.
      They lose a little cash right now tho, but will probly survive 18 months.
      I would imagine they a 10-20 bagger once things turn around, heck maybe they drop to 10 cents by summer and they a 50 bagger. lol
      So many around its plain not even funny anymore.

      • On January 7, 2016 at 8:24 am,
        bb says:

        Actually, I dont know if people compare to peers anymore, around here it seems to be all technical stuff.
        I prefer peer comparisons.

        • On January 7, 2016 at 9:42 am,
          Matthew says:

          Are you kidding? Claude is beating the heck out of TMM due to its superior “boots on the ground” merits. TMM does offer superior leverage but that is because it needs a higher gold price in order to do well. I no longer follow TMM but I don’t doubt that it has 10 bagger+ potential. It’s like a call option that just needs the gold price to take it “into the money.”

          • On January 7, 2016 at 10:00 am,
            bb says:

            yup, thats all it is.
            the hi for tmm was $3 with gold at 1900, should gold go to 2500 tmm could be $5.
            That will happen to just about all gold shares.
            I own a little tmm, not alot, but obviously imo its one to own.
            But, just about all of them are. lol
            the ones with cash to last 18 months, thats my #1 criteria now.

          • On January 7, 2016 at 10:08 am,
            Big Al says:

            That too is a great point, bb.

          • On January 7, 2016 at 10:02 am,
            bb says:

            the comparison of claude and tmm, tmm only needs a $3 price for 10-15 bags, claude needs almost $9.

            Each company has its interesting points.

          • On January 7, 2016 at 10:07 am,
            Big Al says:

            Good point, bb

          • On January 7, 2016 at 10:09 am,
            Matthew says:

            I believe your $3 and $5 estimates are quite conservative. TMM’s profitability will be incredible at $2,000 gold. When gold hits $1,900 again, it will be worth far more in real terms than it was when it hit $1,900 in 2011. The miners will also be in far better shape to benefit from it.

          • On January 7, 2016 at 10:34 am,
            bb says:

            Im sure your right Mathew, I have just been ballparking for over a year now.
            I dont even do DD on new companies I dont know anymore, I know so many good ones as it is.
            This gold bull is gonna be huge, imo.

            One caveat of course, you guys know already, I think buying increases around 1k gold, but I could be wrong and it tanks to $400.

            If we get the bull from about 1k, good grief, make sure you own a couple you paid 1 cent for. All you will need is liquidity.

            I might be wrong, but I figure it could be life changing for alot of people.

          • On January 7, 2016 at 10:52 am,
            Matthew says:

            I’m not worried about $400 gold but your point is still a good one. A lot of miners will be in trouble if gold merely stays near the recent lows for too long. In this case, you want companies with a lot of cash relative to any debt or enough cash and no debt at all.

  35. On January 7, 2016 at 6:31 am,
    Mark says:

    HERE WE GO………………

  36. On January 7, 2016 at 6:35 am,
    Mark says:

    Now Macy’s to layoff 4800 workers!

  37. On January 7, 2016 at 6:36 am,
    Mark says:

    DOW DOWN 315 POINTS!

  38. On January 7, 2016 at 6:37 am,
    Mark says:

    If this keeps going will the circuit breakers kick in?

  39. On January 7, 2016 at 6:48 am,
    Mark says:

    ********** BREAKING NEWS: CHINA SAYS NO MORE CIRCUIT BREAKERS! ***********
    So what is going to happen when those markets open later this evening!
    They truly don’t know what to do!

  40. On January 7, 2016 at 6:50 am,
    Mark says:

    China will let the markets go when they open………….WOW!

    • On January 7, 2016 at 6:56 am,
      Dragonite says:

      Mark, Chinese government has never been the friend of stock market. They has been suppressing the market since 1993 to stop people from gambling the the stock market. Chinese are gamblers. Last year was an exception. They were defending their power instead of market. It happened that the old faction used the stock market to challenge the new leadership. It was political.

      • On January 7, 2016 at 7:15 am,
        Dragonite says:

        It is possible that the top is going to let the market run to fish for more challengers. Chinese market is made up of 80% retail investors so the market is always volatile. Good thing is that it really has low participation due to the government suppression for decades so losing the stock market does not result in public revolt.

  41. On January 7, 2016 at 6:52 am,
    Matthew says:

    What a start for 2016. Three out of four trading days started with stocks gapping down and the gold miners gapping up. I can’t think of a better way to get clueless money interested in the sector.

    GDXJ:
    http://schrts.co/LUEStl

    • On January 7, 2016 at 6:57 am,
      Dragonite says:

      Ha!

    • On January 7, 2016 at 8:30 am,
      bb says:

      Not sure clueless people will have much money left now.
      My guess is the people that are really gonna make coin in the PM market went long the American dollar some months back, when they feel the time is right they will enter the PM market.
      Actually, because they were right on the dollar they will have the coin for lithium,cobalt,graphite, agriculture and a few of the other opportunities out here as well.

      • On January 7, 2016 at 8:53 am,
        Birdman says:

        Clueless money abandoned long gold positions and miners 4 years ago. Not sure what is meant by clueless! But others like to fight the tape for a challenge I suppose. On that note my gold positions are doing pretty OK ……but getting ready to bail over here…..tick tick tick…..we shall see what the next hours or day brings.

        • On January 7, 2016 at 9:15 am,
          Dragonite says:

          Time to sell Bird.

          • On January 7, 2016 at 9:15 am,
            Dragonite says:

            Sorry, missed comma.

        • On January 7, 2016 at 9:30 am,
          bb says:

          Im buying what I dont mind keeping, I could sell of course but if I miss the opportunity its …oh well, anything is gonna be good and look cheap at these prices once gold turns.

          Guess Im coverin my butt for being a lousy trader. lol

          • On January 7, 2016 at 10:31 am,
            Birdman says:

            We have a bounce but gold is still in a bear in the big picture. As long as you know that its no problem. This is NOT the final bottom nor is it the start of a new bull. I would only play it as a short term trade. Get in…get out…avoid the carnage that will inevitably come.

          • On January 7, 2016 at 10:55 am,
            bb says:

            I agree with you Bird, my recent buys tho are good companies at about their 52 week lows, they not falling much from here.

            The american etfs might be a better way to catch the bounce.

      • On January 7, 2016 at 9:05 am,
        Matthew says:

        There’s always mountains of clueless money. $Trillions at the moment.
        One tiny example: AXU raised 30 or 35 million dollars at $8/share in 2011 from “accredited” (high net worth) investors. Now you can buy AXU for 34 cents.

        Bird – Market tops form when clueless money is no longer able to buy. Market bottoms form when clueless money is no longer able to sell.

  42. On January 7, 2016 at 7:14 am,
    Matthew says:

    CRJ just hit the 600 week EMA for the first time in four years — 688% above its 11/13 low.
    http://schrts.co/gEYPeO

    • On January 7, 2016 at 7:50 am,
      Excelsior says:

      Very nice.

      • On January 7, 2016 at 8:09 am,
        Matthew says:

        Like the current action in the conventional stock markets, Claude’s action over the last two years shows that fundamentals DO matter.

  43. On January 7, 2016 at 8:02 am,
    Matthew says:

    Gold is up 1.25% and silver is up 1%. Copper is down 3.2% and even platinum is down slightly. Days like this make it even clearer that silver has more in common with gold than the base metals —which include platinum and palladium.

  44. On January 7, 2016 at 8:03 am,
    Matthew says:

    Copper will do better than most think over the next few years.
    http://schrts.co/b1BNE2

    • On January 7, 2016 at 8:31 am,
      Dragonite says:

      My target for copper is $1.

      • On January 7, 2016 at 9:06 am,
        Matthew says:

        You’re not alone. 😮

        • On January 7, 2016 at 9:39 am,
          Dragonite says:

          I just feel it has been over produced. I remember it used to cost 60 cents to produce and they sold the product at $5-6. People went crazy to set up new projects. Now it is the time to take those capacity offline.

          • On January 7, 2016 at 9:50 am,
            Matthew says:

            I think it will do no worse than about $1.65 or so.
            http://schrts.co/LzjSdc

          • On January 7, 2016 at 10:15 am,
            Dragonite says:

            Maybe but 1.65 cannot turn off most of the production. We are in an easy credit environment.

          • On January 7, 2016 at 10:45 am,
            Matthew says:

            Remember that $1.65 today isn’t nearly what it was in 2001 and head grades have been falling substantially since then.
            Since markets are forward looking, I think renewed interest in hard assets alone will be sufficient to keep the price up. A bear market in paper will see to this renewed interest so we don’t need the economy to do it. But lookout once the economy does turn, even modestly.

  45. On January 7, 2016 at 8:05 am,
    Matthew says: