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Comments on Brexit from Jeff Pontius

Big Al
June 24, 2016

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DJIA now down over 500 points. Will this continue?

Discussion
31 Comments
    Jun 24, 2016 24:14 PM

    Boys Europe can’t take soo much foreigners ! The streets are FULL !!!! https://www.youtube.com/watch?v=9rBGmSc8YrE

      Jun 24, 2016 24:19 PM

      Diss movie is not over ! You will see killings and much more !!!!!

        Jun 24, 2016 24:24 PM

        I don’T think that the Brexit result will have anything to do with that.

    Jun 24, 2016 24:52 PM

    Yes good to hear you Al and Jeff talking up the American spirit. I agree. The stereotypical Yank (and here I use the term affectionately) is brash, bold, fearless generous to a fault and courteous. I also agree that there is an innate goodness in the vast majority of humanity across the globe, where here in the UK the Brexiteers won due to a sense of that innate goodness getting trashed. Of course there are millions on the Remain side who also have a keen sense of what is right, at least for them.
    But politicians world-wide get detached from the everyday needs of ordinary humanity. Pray God our Brexit ‘success’ has come at a time when countries, be they the U.S. or the U.K. have felt overcome by faceless bureaucrats who have lost all contact with the everyday needs and instincts of us ordinary guys. What makes me feel proud to be English right now is that we’ve managed to hoist these disconnected politicians by their own petard. Pray God too that the people of the United States have their own eureka moment when your leaders are reminded that they are your servants and not your masters.
    Best to all, Andrew

      CFS
      Jun 24, 2016 24:13 PM

      Amen, Andrew

      Jun 24, 2016 24:26 PM

      I share your thought completely Andrew

    Jun 24, 2016 24:53 PM

    Mr. Big Al Korelin, you have your finger on the pulse of the markets and economy. How do you see thinks shaping up (or falling apart?) over the next couple of years?

      Jun 24, 2016 24:28 PM

      It should be a disastet, but that will not happen. It really should though! Better chance now than evet before

      Stay nimble!

    Jun 24, 2016 24:10 PM

    The HUI was capped by the 233 month MA at 245 and the 233 month EMA at 240 today but still managed its highest weekly close since August, 2014.

    Is anyone ready for a melt-up?

    http://schrts.co/IgLQsQ

      Jun 24, 2016 24:12 PM
      Jun 24, 2016 24:54 PM

      Matthew

      Well,i am ready,but starting to feel a bit greedy for not cashing in,i have trimmed some pm stocks,but i am still about 70% in.
      When do you expect a bigger correction? 1392-1535?,maybe sep-oct time frame?

        Jun 24, 2016 24:20 PM

        Your guess is as good as mine but I expect well over 1400 and September/October makes sense to me.

        It is important to watch our indicators for signs that our expectations need to be adjusted.

        As everyone knows, I’ve been expecting gold to pull a 2013-style move but to the upside and this week’s action and huge volume tells me that the best part of the melt up has probably begun.

        http://schrts.co/F8LvTx

          Jun 24, 2016 24:38 PM

          Thanks Matthew, i appreciate the answer.

          Jun 24, 2016 24:51 PM

          No Matthew,your “allinchartwizardeduacatedguess”is much better than my grassroots technical guess.

            Jun 24, 2016 24:21 PM

            I’m not so sure about that but thanks.

          Jun 24, 2016 24:10 PM

          That’s strange, stockcharts is no longer showing the same huge volume on that chart.

        Jun 24, 2016 24:21 PM

        I am all in, btw.

        Jun 24, 2016 24:38 PM

        Of course, i didn´t mean “cash in all my chips” completely,but only leave my core miners.

          Jun 24, 2016 24:22 PM

          I definitely would have assumed that you’d keep a core.

    CFS
    Jun 24, 2016 24:11 PM

    Even “experts” are sometimes wrong?

    http://www.tfmetalsreport.com/podcast/7695/a2a-greg-mannarino

    CFS
    Jun 24, 2016 24:27 PM

    I feel so sorry for investors who hold stocks in Greece, Spain or Italy .
    4 or 5 times bigger losses then UK or US.
    Pension funds decimated in the original meaning of the word.

    Jun 24, 2016 24:29 PM

    Certainly, many are!

    Jun 24, 2016 24:45 PM

    http://www.zerohedge.com/news/2016-06-24/jean-claude-juncker
    The young boy is been very naughty & rude….But this time I will forgive him.

    Jun 24, 2016 24:51 PM

    The fecking bankers get bailed out again.

    http://www.birminghammail.co.uk/news/midlands-news/eu-referendum-bank-england-makes-11519317
    The fecking bankers get bailed out again.

    Jun 24, 2016 24:01 PM

    Let’s recap regarding gold and silver…

    The good and the bad.

    First the bad…

    I expected gold to go up much more, somewhere into the high $1300s at least.
    The fact it went down most of the day is not good.

    It also closed near the lows.

    Silver was very muted and a non event.
    Gone are the days when silver pops a buck or two or five.

    NUGT opened at 127 and went down all day closing near the lows.

    The good news…

    Gold did close above the $1300 level comfortably and also closed above the key $1308 many people were watching.

    I think this close trumps the fact it didn’t rocket up.

    So where do we go from here…

    I think now that the $1308 level has held I think we go higher.

    However my golden number level $1340 still needs to be taken out.

    It made a high of $1344 today but didn’t last.

    The fact that it breached it is a very good sign.

    But as I have been saying for a few years now, we must take out and hold $1340 for three consecutive days, that has not changed.

    Doesn’t mean you dont buy early, as I did, it just means in my book that is the final declaration the bear is completely over and the bull is true.

    Again I believe we are already in a bull market, this is just my key indicator.
    I’m confident we take it out and gold it for three consecutive days

    Jun 24, 2016 24:29 PM

    Doc,

    Off topic i guess but,i am watching big dog Cameco,i own some smaller uranium plays ,but i want to buy CCO.TO when it hits bottom,what does your technicals say about Cameco,could i go to 7-10 CAD?

    Jun 24, 2016 24:47 PM

    Will hold USLV long when she hits 20. Holding ASM even longer. Check out the ASM chart. B-exit had NO affect!

    Jun 24, 2016 24:58 PM

    Silver was capped by the 600 week EMA and didn’t quite make a new high weekly close but I think it will confirm gold next week.

    http://schrts.co/3W0rEu

    Jun 24, 2016 24:12 PM

    Well said Andrew. I think Brexit boils down to:

    1. How can you have unlimited immigration? It is absurd, especially if we have a
    generous welfare state (even though most of the immigrants do indeed come to work) We are not like the USA. We speak different languages and have different attitudes.

    2. The EU commission is the most powerful body, where all the EU legislation gets started and they are unelected. How can anyone justify that?

    Jun 24, 2016 24:33 PM

    I just thought I might add this. If you watch the video below you will see Peter Hitchens say that Labour and Conservative parties should fade away and we need new parties. I think the same applies in the USA. I know it will never happen but wish each MP would be independent so that they could not be so easily hijacked by big business , especially banksters.

    https://www.youtube.com/watch?v=LnCvl2T_o5o