This Too Shall Pass
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The DJIA is, as of this recording, down over 300 points; the European Markets continue to fall; while, the Asian Markets are increasing in value. Rick Ackerman comments.
Great comment Fran Six
Your target was $1382 not $1362
Now you are saying your target was hit.
Please respond
Al, why are you going out of your way to bash gold?
You say this isnt the time to back up the truck on gold, ok then when is?
I am talking very short term James. The Brexit situation, in my opinion, needs to stabilize a bit and I believe very strongly that it will. As it stabilizes, I think that gold will weaken a bit from the drama that affected it the last few days.
Am I down on the miners? Absolutely not! Sensibility regarding Brexit will do nothing but strengthen the miners within the audience of astute investors.
You really believe what treasury secretary Lew says?
I don’t know Al, your are acting very funny if you want my opinion.
You continue to down play brexit, you are bashing gold, and pumping stocks
To me James it is simply common sense. I think that Lew’s opinion is valid. I am certainly not pumping stocks, I simply believe that “this too shall pass” as far as the U.S. markets are concerned.
I understand the agenda that you are referring to. Trust me James, No one in this world believes in individualism more than I do!
Big Al, how do you balance fundamentals with your belief the current fluction in the stocks are transitory.?
I would maintain stocks are over-valued and the Brexit vote instigated a re-evaluation downwards, which could develop into a trend.
This too shall pass?
Not according to Blo Pony….er…dang Ipod…er Ipad…Bo Polny.
Crash of All Crashes Coming-Bo PolnyPolny also is predicting the Dow will eventually grind down to around the 5,000 level. Polny explains, “Basically, after the Dow hits that 5,000 or 6,000 point, it never recovers. This is the crash of all crashes. This is the one where there is no recovery.”
http://usawatchdog.com/crash-of-all-crashes-coming-bo-polny/
Never is a long time.
He is simply a great showman who used to be a chiropractor. Nice guy. In the past three years when has he been right?
The ‘Brexit’ is NOT going to happen, and gold will be down $50.00!
But Jorge, it did happen.
I do t know if it is the crash of all crashes, it could be.
But many people are playing it down so much it makes me wonder.
Al keeps saying “business as usual” and “this too shall pass”
He seems to be taking the opposite extreme position of complete complency.
IMHO
Just common sense, in my opinion, James.
My iPad too discomfits me
Al, please have Rick respond to his $1382 call that became $1362
Rick’s pattern of 1362.6
GCQ6….A (6/3) = 1209.1, B = 1318.9, C = 1252.8, Target D = 1362.6 to the dime.
Ebolan- appreciate the link!! 252 year cycle?, never heard of it,252×8.. 2016, wow!.. interesting.
Uranium´s bearish message for Gold.
http://www.mcoscillator.com/learning_center/weekly_chart/uraniums_bearish_message_for_gold/
Pete – Thanks for that post.
That interesting on the 7 month lead Uranium price to the preceding Gold price action.
Yes,and Mclellan had some interesting articles in Dec 2015,i have found his work a useful piece of the puzzle over the years.
Recession…
“This Is A Recession” – Dallas Fed Workweek Hits 7-Year LowThe Dallas Fed Business Outlook has now been in contraction for 18 straight months. The underlying components are mixed but the average workweek has collapsed back to its lowest since Nov 2009. As one respondent noted, “This is a recession… Fed policy has us locked into a lethargic and tenuous position… We cannot have millions of people out of the workforce and be healthy economically – they are a burden not a benefit.”
The biggest drop in Dallas Fed workweek since 2009!
http://www.zerohedge.com/news/2016-06-27/recession-dallas-fed-workweek-hits-7-year-low
I think it began last quarter.
It is at least very close to being one. Do remember; however, that this started way before the vote last Thursday.
Rick, you called for a $1382 target for gold.
How are you saying your $1362 target was hit to the penny?
Brexit impact will be worse than the 2008 crash
https://theconversation.com/brexit-impact-will-be-worse-than-the-2008-crash-61648
After watching how the EU has put the thumb screws to Greece and forced austerity on other countries in order to bail out irresponsible (or, more likely, criminal) banks; supported the US/NATO in aggression that has caused a refugee crisis, and then allowed huge #s of these refugees into the EU without proper controls…
Why would the people of any nation want to give up their sovereignty to remain a part of the albatross that is the EU?
It was poorly designed from the start with a mis-match between a central currency and decentralized fiscal policy, probably with the notion that they would force unification of fiscal policy at a later date. Die already, EU!!!
Now is a good time to buy stocks?
Wow, has this place changed.
Is the world outta goldbugs?
I wish the conversation pilot edition would put a date on articles.
Going into Brexit vote US stocks were more over-valued than UK stocks.
The results in the two countries may not be equivalent and certainly the financial impact short-term and long-term has little reason to be other than because of a domination of the condition of the world economy.
I’m following Al’s market advice and selling my FNV to buy Spanish banks.
That was too funny! Spanish banks… how about wall street?
The Market Just Held a Stress Test: Morgan Stanley, Met Life and Citigroup Flunk
Wall Street On Parade has reported on multiple occasions that the Federal Reserve has no idea what it’s doing with its stress testing of the largest banks on Wall Street. Last Friday’s market action, following the Brexit vote in the U.K. to leave the European Union, proved just how feeble the Fed is when it comes to assessing systemic risk and capital vaporization at the deeply interconnected Wall Street mega banks.
Bonzo, was that his advice or his opinion?
Spanish banks?
Why on earth would you want to buy Spanish banks.
All they have is non performing loans.
The stress tests are a joke.
Branco Santander is a disaster
Buyer beware
James, I was joshing. I ain’t selling my FNV till gold is 10K/oz
Gold to platinum ratio
http://www.safehaven.com/article/41834/gold-to-platinum-ratio
Another interesting article. Thanks Pete.
Thanks,Excelsior i fell asleep..
http://www.digitaltrends.com/computing/bank-worker-falls-asleep-on-keyboard-transfers-millions/
What the RU referendum looks like to me is that the UK did the right thing at the right time, while Eurozone markets get monkey-hammered, the FTSE 100 has nary a scratch.
Another thing that should be a prominent part of the discussion is that dollar competitors such as the Pound and the Euro got their devaluation against the US dollar, while the PBOC also jumped in to devalue the Yuan. Co-incidence? I think not.
Canadian-domiciled gold miners handed yet another windfall gain.