Comments on silver from First Majestic; Big Al; Cory; and, Chris Temple
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Who was the major Japanese electronics firm that approached First Majestic? Is that known? F.M has done quite well this year by rising over 400% since the January lows. Its on a sell right now though so I would not touch it at the moment.
That’s a huge move yet Impact Silver still managed to blow First Majestic away. I knew it would and said so when it mattered.
WOW. Thanks Chris for discussing the ETHICS of PM mining and sourcing (It is rarely discussed).
And also, the Avino agreement is AT SPOT PRICE, not a streaming deal at a pre-set price.
This is why I restrict my PM miner OWNERSHIP to a VERY few countries (as in, NOT Africa)
I try to stay away from lousy ethics, those that destroy the envirnment or use slave labour.
Not sure it does any good tho Brian, oil for example, look what they have done in Nigeria,Uraguay and the gulf of Mexico to name a couple incidents.
Shares never stopped trading for 1 minute, most people dont care, its just profits that matter.
But, I stay away fom “unethical” stuff anyway.
It would be more honust to call it psychopathic or psychotic?
Well this sure has been the most dead I have seen this site in years. Since late Friday until now there is just over a hundred posts total. That’s more than three days and almost nobody has much too say of add.
Quite a change from a few weeks ago when the site recorded 500 comments on the weekend show alone.
It’s not just here either. There is a dearth of articles of any kind on precious metals. Sites like Financial Survival have even stopped updating with new articles altogether. Like a kind of suspense has set in and nobody is talking because they are all holding their breathe.
But to me that is just more evidence of the preponderance of a one-sided bias of the bull camp. They are loud and proud when metals and mines are on the rise….but quiet as a Tit-mouse when there is a reversal of fortunes.
Except when they want to tell you the decline is fabricated by the Fed and the Bullion Banks and its a great big manipulation (of course).
But no matter. I still have plenty to say and naturally enough I continue to avow that I am going to be proven absolutely correct that this rise in gold since January is nothing more than a big dead cat bounce.
The evidence continues to mount in my favour as the charts have turned especially negative recently as mining stock has begun to sell off with conviction. Given todays price declines and the look of so many gold stocks the bear trades like DUST and JDST could well gap up nicely come tomorrow.
Especially if gold finally drops below 1200 this evening or heading into the session tomorrow. And indeed that very bearish monthly outside reversal on the gold chart did grow longer today and establish itself as the black mark of death on gold during the seasonal weak period.
Miners are about to embark on a blood bath decline too. But they won’t be bouncing back with much force in my opinion and the trajectory of most will be right back to the December lows.
After that its new lows we should look for because this was just a grand suckers rally. But what amazes me is how many of the real experts ate it all up! How the hell can that be? Usually there are at least a few big names in disagreement but this time even the bears could not conceive of any situation that did not involve a strong bounce off this weeks declines.
I know that because of all the energy invested in buying the dips on miners.
The only thing the experts differed on was where the bounce would come from. Maybe 1200 or 1190….then there was 1175 and 1150 being bandies about. One guy thought we would get a big double bottom off the lows and then a rocket ride.
All wrong of course….they are all wrong.
I notice that Armstrong has tentatively come around to my view point in the last week. Until recently even he had been saying that a new bull might commence in 2016 but now he has moved his time forward to 2017 if May ends on a sour note as we would have seen the highs for the year.
Yes Martin, I agree with that. We have indeed seen the highs for 2016 already and those peaks look to be fading fast. When so many of these softening mining stocks hit their 50 DMA’s in the next while then automated selling will kick in and that’s all she wrote folks.
All we will hear is the sound of small pops as price breaks through and triggers stops all across the gold mining sector. Well, that sound and the cries of anguish as the usual gang of die-hards gets clobbered for having held tight in the poorly thought out belief that we would only have a pullback before launching much higher.
To new highs of course (good grief).
Hold Old Turkey my ass! I said to sell….but nobody would hear it even though the charts were damning and totally unsupported where a new bull market was concerned. Dumbest claim ever….and bought by 99% of the people.
Oh well, its not my money so I could care less.
But seriously folks…..you need to look at the charts with more objectivity.
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PS: Don’t ever trade based on my comments. None of this is advice either. Just personal opinion. I am obviously in the minority 1% and pretty much the whole gold world would disagree with me if the read my remarks.
Birdman
You now include a DISCLAIMER on your posts? Why?
Brian
I often do Brian. Just in case I convince anyone (unlikely but still possible). The point though is that no matter how sure we can feel about an idea it still does not guarantee we can’t be wrong. It’s worth pointing out once in awhile that these are all opinions and not trading advice just in case anyone is confused on that point.
Probly because he knows that 1 o2 people actually have been noticing the % of calls people are correct on.
I know enough not to listen when Bird says down.
Alot of the posts here Bird were simply the names of miners.
In any case, I dont know how you get a 50 day moving average that you talk about, could you mention it when it gets crossed?
I kinda think if a waterall is gonna happen it will be when 1200 gets broken. that should be psycological, except Ive read guys saying to expect that and the bounce will be at 1180-1175.
M Fulp is still saying a low should be mid June to mid August, somewhere in there by historical charts.
Personally, Im betting on doldrums then higher after summer, sure I could be wrong but thats what I intend to bet on.
Baby needs new shoes.
oops, not “not to listen” lol
but take notice.
Spot gold has already fallen below 1200 dollars. Very ominous sign. Meanwhile the rising Yen megaphone pattern finally cracked and she went down better than a percent today indicating even more trouble is coming for gold. I saw in the news that Saxo was now bullish PM’s! So add them to the list of other major banks that are suddenly sounding goofy on gold and throw in a few popular billionaires who got hot and heavy over GLD and suddenly we almost have a conspiracy 🙂 to trick the retail set into buying metals at the top. Ha! Just might work too but I am not biting. Short positions are hardly a growth area either as far as the COTS go. Not as much as I expected anyway so there must be a lot of doubt. Longs were substantially reduced but an equal number of shorts were not initiated.
What do you mean you don’t listen to me when I say “down”?
My record is almost flawless!
it was a typo.
My chart shows 1202.31 as the low, kitco has 1200 right on as the low.
Birdman, this is a link test. It originated at Cometgold. You said drop the http on the others, when there are muliple links. Example with 3 links provided.
au_nb: Gold spot: It just may be finishing an ABC correction as a second wave. A third wave UP to follow. http://i.imgur.com/KYerwe9.png i.imgur.com/e8BsKPC.png i.imgur.com/zyqbUAm.png We’ll c. fwiw, jmho, icbw
Yes bb….It was on Kitco when gold fell below 1200 intraday Monday to 1199.95 but then this morning there was an article on gold futures having hit 1199.00 even.
http://www.kitco.com/news/2016-05-30/-Interest-Rate-Expectations-Pressure-Gold-Below-1-200-In-Holiday-Trading.html
So. YPOu want someone to argue with , then ?
“one-sided bias of the bull camp”
AS of today, completely the opposite, IMO
Are you in my camp then?
No. I am not agreeing with you.
Bird. I disagree with you that we have seen the highs for 2016….So confident am I that I am willing to bet you a peanut that you are wrong.
Make it a peanut butter sandwich and I might look you up next time I’m in town.
Bird…I will raise your peanut butter sandwich, with a British Gold Sovereign.
Your bid……….
Sorry, I don’t do the hard stuff 🙂 . How about I raise you strawberry jam on top?
Good day Birdman. Could it be they are trying to get DUST into their computers. Just a few days ago they said you were trying to get DUST out of yours. I wish I had more in mine and had not put it a little to early.
Has The Industrial Silver Panic Begun? Major Japanese Electronics Firm To Lock In Silver Supply From First Majestic, Citing Supply Concerns
by The Doc, Silver Doctors:
Its at sgt report too.
Mines do sell at a fixed price, should silver be going to $140 that would kinda be a dumb move right now, locking in a price generally means the miner figures the price could go lower. $140? locking in price? hmmm
Another thing, they may not be purchaeing everything First Mjestic produces.
I forget now who it was, a billionare wanted gold, he bought an entire produceing mine. Probly got his gold at a good price.
That was a few years ago, I just dont think buying straight from a producer is that rare.
b
Read my comment above. I am 99% sure that these are agreements (at least Avino) are for SOLE purchase at spot price (minus some small fees), and NOT a set-price streaming deal.
Correct time if I am wrong …
ALSO !
Matthew had found a nice Canadian company that was also sole-sourcing … not so much silver, as ZINC or LEAD.
Brian
It appears that the Bird …Is actually a chicken who likes strawberry jam, over gold.
likes..should read prefers.
GMX started the week with more strength and was up 12.5% this morning.
Hi Mathew:
I really appreciate the charts you post.
I was wondering how to get the schiff forks onto my charts.Is their a button or do I need to upgrade my membership at stockcharts?
Hi John,
You can access the Andrew’s pitchfork by clicking on “Annotate: Flash (Old)” below the chart on the left (I prefer the “old” one). You will then find the tool in the toolbar at the top of the chart by clicking on the icon that has three arrows pointing up and to the right. There is no tool for the Schiff or modified Schiff forks so those have to be done the hard way using the Andrew’s fork tool.
You will need to subscribe in order to save any of your work.
Here’s an interesting video on the subject:
Great link, Matthew. Always learning and stuff like this really helps. ~ Brian
Getting back to what this interview was about First Majestic.
These CEOs of these mining companies can pump with the best of them.
$200 silver, $10,000 gold.
What a bunch of crap.
They should all be horse whipped.
Never have so few managed to convince so many of something that isn’t happening.
I too will start posting a disclaimer
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I own 1200 shares of AG
Jordan Roy-Byrne gets it…
Eric Coffin too…
Brien Lundin knows a new bull market when he sees one…
Brent Kook rambles on about cons but fails to mention that HE peddles the massive global warming con…
Yep Matthew,
And BC loves him some big Gov DC style with all the same status quo Obama/Hilldabeast type scumbags that are in charge, staying charge.
Other than listening to what the guy has to say about rocks and mining, I wouldn’t spend one minute of my valuable time listening to what that guy is selling.
Pathetic!
Thanks Matthew – The Market Report on SGT with Alasdair Macleod is well worth a listen too. Needless to say the god-like Bird dismissed it.
Thanks Reverand-Matthew- for the links…
Thanks Andrew, Alasdair is always good.
TriMetals at that Forum is well worth a listen,
Matthew, thanks for the link.
Marty
Global warming con?
Noam Chomsky believes global warming and the potential of nuclear war right now are the 2 issues that need to be dealt with to preserve the existance of life on the planet. (just watched a few hours of u tubes)
David Susuki seems to agree with him.
Anyone check the starfish dying?,sealions? herring? Birds? (by the millions) the coral reefs? 51 degrees it got to in India,
and on and on it goes.
Maybe all the scientists are in on the con?
Their thermometers are defective?
Well, we could call it climate change.
If we keep argueing about it we wont have to do anything about it.
Personally, I like it warming up. But I live in Canada, normal has been freezing 1/2 the year for most of my life.
Chomsky is another con and tool of the Marxists.
You think warming would be bad for most life forms? That’s just more propaganda.
Oh ya, the young lady Ive had staying with me the last few months is an envirnmental scientist too, she seems to think things are warming up too. But lets be honust, she is around me alot. lol
Ha! Got yourself an environmentalist cutey did you? Good work bb. Maybe she can get you through the next Ice Age since we all know global warming is a fairy tale (except we are not allowed to say that anymore or the Flat Earth Society will get us).
I actually just found out she is a scientist, lol, I never asked and she never said. My daughter just told me today.
And no, not “my” girl, she has been renting, but she leaves end of June.
The company was nice and I didnt mind helping her out.
After reading all I could stomach, I came to the conclusion “I dont know” seems to me the evidence for both sides are logical.
Of course my renting scientist figures Im nuts, drives her crazy. lol
If you want future delivery only go for the best.
http://www.bloomberg.com/news/articles/2016-05-26/miner-sees-silver-price-surging-ninefold-as-global-gadgets-boom?cmpid=yhoo.headline