What a BAD jobs number!
We kick off today with Chris Temple focusing on the horrible jobs number. The 38,000 added jobs that are reported are the fewest since September 2010 and tied in with downward revisions to the April and March numbers. We are seeing gold and the other precious metals pop and the US dollar down over 1.5%! The Fed sure does not like this data point!
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grrrr.. should have bought it back!! lol.. doing extremely well on some venture stocks.. tho! abr, cxo, gqc, dec,elt,ksk,rex, clz,ric,plg,abn,eqt,mts,sam, ssv, esk,…
Andrew, I don’t give advice but I did post the following two days ago…
On June 1, 2016 at 9:26 am,
Matthew says:
Fwiw, I bought back a little IPT at .54 today.
Btw, I bought back “a little” because I still had about half of my original very large January position (which I mentioned a few times a few weeks ago).
Bad news will eventually turn to good news once the market realizes no interest rate hike is possible this year.
We could get back to 2100 today but not much above that.
Al, AT&T pays about 5% dividend and it is up .77% today at 39.15. I regret selling this one in the low 30’s. A solid company.
There are lots of great companies that pay high yields and aren’t going anywhere. Look again at MPW and APTS that I mentioned on the weekend show a week or two back. Both recently increased their payments as well.
At&t is well above the moving averages. I think I sold many months ago near 32. I am hoping it will correct to 35 to 36 to start a position.
Could be…as long as there is nothing out of left field to start the deflationary dominoes falling, the stock indices should at least hold their own, and go sideways for a while just like they’ve done for going on 2 years now.
Do not worry, July is a live meeting.
Except the Fed’s idea of a “live” meeting is akin to the “live” beings on that AMC show so many people like
Are you referring to “Walking Fed”
Yep!
Their system is dead, bankrupt – but those zombie policy wonks don’t even know it themselves yet
tragically funny guys…. 😉
Mind control freaks.
I have bought back some Valeant as it is around 4 to 5 times estimated earnings only.
AT&T not a bad company, I would hold. However, I think the market is about to drop around 30% in next 6 months so, not sure what is a good buy anymore
Big gold move today. Wow. This is a fantastic turn of events. Only wish I could make a devil-face emoticon with a sly smile to make my feelings more obvious. You guys will just have to imagine I made one.
Because this is PERFECT.
Birdman…..perfect….as in gold is starting its move to the moon? Or perfect setup to sell gold before it drops further?
Action today opened a lot of gaps in stock prices that will most likely get filled before a real move higher occurs….today is kind of amazing, but I am not convinced that gold will not move lower still this summer….
You were bearish at the low as usual, Bird – just like the rest of the retail herd.
There’s a difference Matthew. I’m a long term bear.
This is just a knee jerk reaction to very short term
oversold condition. It was to be expected.
ITS CALLED – WHIPSAW.
One day does not make a trend. The bulls were in
charge today but for 3 weeks the bears pulled off
the biggest bull trap in years.
“the biggest bull trap in years” — how so? Could you elaborate? I mean this as an honest question.
To my eye it has looked like a standard topping and pullback process, following one of the biggest bull runs in years, or history for that matter…
You are right trader jake.Like I said many times before the rise to 1303 level has been the mother of all bulltraps 🙂 Call writers are rubbing their hands with glee atm.Bulls are gonna get trapped and butchered.
https://www.youtube.com/watch?v=-CH4wZmsmtk
GH, could be a pull back. Also, it was a bull trap and anyone who was long 3 weeks
ago was taken to the wood shed. Whether gold can break out or not, we won’t know
for a few weeks. If we break 1200, gold is heading down. We could even test the low
last year. Personally, I am a long term bear. Cost of necessities are falling sharply.
Don C. seems to believe it was the mother of all bull traps. Don also believes gold
may fall to 800.
GH, so far gold is unable to break out. We are now a lot closer than a few days ago.
This snap back too, gold was extremely oversold last 3 weeks. Jury is still out.
HA HA HA! You have NO IDEA why I am happy, Matthew.
That’s your linear thinking at work.
You’re happy because you don’t actually bet any money on your BS.
This is the retracement that I told you about birdman.Retracement targets are 1252,1264 and 1282.Nothing to write home about.Just a retracement.Gold is still in a bearish trend.
Hey Bird thanks for the Vancouver/Toronto realeatate take.
By the way this is the cazynees I’m talking abooot
http://v3.torontomls.net/Live/Pages/Public/Link.aspx?Key=d7dbbbeea0cc4d46adc75cb28d7de202&App=TREB
A serious question Chris what a good price to start buy Sarepta Therapeutics Inc ? 10 to 12 % ?
My Members bought it in the $12 area, give or take. A bit over a week ago sold 1/2 around $23. So I’m suggesting to ride the rest.
This is still a good company longer term. But they will shortly need to raise $ – or they will get bought.
Well, as Chris said, it looks like anything over 2100 is out of the question now.
But we can’t just hang around here for the next 6 months so we either do go up eventually or we go down.
The dollar’s countertrend relief rally fooled a lot of people but it shouldn’t have.
Thats because it could be a bear trap. Where you going
to put your money. USDX is the only game in town.
Like you predicted it.
Didnt a list of higher dividend paying stocks get posted here awhile back?
Think I posted about 2 dozen that were paying around 10%
They were all on the american exchange.
The dollar fell a whopping 2% on March 18, 2015. I owned puts at the time so it’s kind of hard to forget. 🙂
That’s funny. I don’t recall you saying you bought puts on the dollar. The reason its funny is because you always tell us *after* the fact. You have a perfect 20/20 rear-view-mirror success rate.
How amazing. You really should write a book. We can find it in the fiction section.
Ok so where do we sit now do you think that the correction is over for the metals and that will start moving back up or is this just a one day spike? By the way this question is for anybody just wanting to get thoughts. TIA
Lewis
I need to see the weekly close, then see what happens early next week.
If I had to guess? There will be opportunities to buy PM stocks at lower prices sometime this summer. I have some unallocated cash, so I am waiting on a couple purchases (just so you know I have money involved in my prediction)
Brian
On May 31 this is what I posted under Doc’s interview
On May 31, 2016 at 3:55 pm,
James The Lesser says:
I loaded the boat on NUGT today.
Let the chips fall where they may.
Reply to this comment
This is how it’s done!
The chips fell alright
And I have a whole big big pile of them!
No hedging , no playing both sides, no equivocating.
I send it in and I send it in big
Looks like we may close positive on the s&p.
$50/Barrel Oil Won’t Last: Why Chances of a Breakdown Are High
Source: Clive Maund (6/3/16)
Three Buying Opportunities in a Resurgent Gold Market
Gwen Preston (6/3/16)
Rye Patch Announces Cdn$40 Million Private Placement of Subscription Receipts to fund Florida Canyon Gold Mine Acquisition
Vancouver, British Columbia, June 2, 2016
Pretivm to Complete C$5 Million Flow-Through Share Private Placement
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 1, 2016)
Since Gwen brought up Victoria Gold near Kaminak and Alexco, I’ll post this update on them. They were also just featured at their investment conference with Eric Coffin and Brent Cook.
__________________________________________________________________________
Victoria Confirms High Grade Results at Olive including: 46m at 2.5 g/t and 47m at 1.5 g/t gold and Expanded Drill Campaign
June 3, 2016
http://www.vitgoldcorp.com/s/news_releases.asp?ReportID=751321
Hey Trader Jake, I’ve just seen your post on the flame throwing Lambo….all previous posts about Ferrari F 40s and Astons ancient history.
I’ve just got to have one of dem Lambos!! Best, A
I hope you have your pilots license Andrew.
Before you decide on your new hot rod.
Test drive the new Enso at 225 MPH.
https://www.youtube.com/watch?v=9O6Gh6q4tHc
Sorry Boss, the Lambo is taken. Unless of coarse
you want to ante Up !!!!
Enso is drop dead gorgeous and it’s available.
https://www.youtube.com/watch?v=Z-4v4I7Gzk0
1.00 minute mark on the video. Your going to love it.
GUARANTEED !!!
Bad jobs numbers? Heck, you listen to Obammy and you’d think the economy is booming.
Thanks Chris.
Hey Ann you’ll be happier still with today’s Impact Silver price. As for you Matthew you should have issued a fatwa telling all KER readers to buy the stock! That said, we’re all pretty pleased with how the PM stocks are doing.
Best to all, A