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Chris, Doc and LPG recap the markets

Big Al
July 6, 2016

No, folks, we didn’t forget about the Fed Minutes…they were a “nothing” and don’t change the fact that the Fed is frozen. Beyond that, we discuss today’s turnaround for stocks and oil. . .and Europe’s banking mess.

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Discussion
62 Comments
    CFS
    Jul 06, 2016 06:55 PM

    James Comey to be question by Congress tomorrow!

      Jul 06, 2016 06:09 PM

      Just another dog and pony show ,……..term limits……What a joke…..

        Jul 06, 2016 06:33 PM

        DOJ…..says it is over…zerohedge

      Jul 06, 2016 06:44 PM

      Trump, will be the next President, his values are what we all should consider, family first! DT

        Jul 06, 2016 06:47 PM

        Teflon Hilly vs.The Don

          Jul 06, 2016 06:11 PM

          Debt going to $36 trillion under Hilly….per year.

      Jul 06, 2016 06:33 PM

      They should ask Comey if he had a secret meeting with Bill Clinton and was offered a bribe.

    CFS
    Jul 06, 2016 06:57 PM

    Platinum is sneaking up unnoticed compared with gold today.

      Jul 06, 2016 06:12 PM

      Big Bob M. Has already put the word out…a few days ago..

    Jul 06, 2016 06:57 PM

    Laurent – Patrick-Gally . You still think i worry to much ? Europe ? The whit Europeans HATE the EU and start to HATE the EURO ! ?

      LPG
      Jul 06, 2016 06:47 PM

      Hello Franky,

      Hope all’s well.
      I think you are writing here/following up based on my last comment to you… Am I correct ?

      In my last comment to you (monday last week), I didn’t write “You worry too much Franky”… but I wrote:
      “When it comes to precious metals you worry too much FOR ME Franky.”
      (the quote is from this interview: http://www.kereport.com/2016/06/27/big-al-doc-lpg-opine-brexit-time/ ).

      These words from me were in response to your advice to me: “Buy same real gold Man baed think’s are coming !”

      So what I meant by “you worry too much FOR ME” is that you don’t need to worry about me buying real gold, coz I’m good on that front.

      Hope I am clear now, and apologies if I didn’t express myself clearly in the first place.

      Luv’

      LPG

        Jul 07, 2016 07:43 AM

        Bombing in Europe and Saudi Arabia , Turkey next ? And real peiphol in France and Belgium are Fed Up ! European EU ! You take thinks very jokey ! All the best !

    Jul 06, 2016 06:00 PM

    The market simply turned as oil turned up from a triple bottom and is up over 4% from the bottom.

    CFS
    Jul 06, 2016 06:14 PM

    Angela Merkel is in a catch 22 dilemma, but it does not matter in the long term, because she is out of a job next year.
    She will try to do the minimum necessary so that failing banks do not bring down DeuscheBank until after the German elections, but she cannot appear to allow Germans to bail out the EU to stop disintegration, because she still has hope for the election next year (false hope, IMHO)
    Germans do admire resolve and strength shown by their leaders, however.

    Jul 06, 2016 06:14 PM

    Great comments Mr.Propane…Lpg

      LPG
      Jul 06, 2016 06:47 PM

      lol Jerry.
      Hope all’s well on your side.
      Best to you,
      LPG

      Jul 06, 2016 06:26 PM

      Irish TONY ,you are on a roll,got anymore

        Jul 06, 2016 06:42 PM

        Hi Jerry…I read a lot & if I see something that I think might be of interest to the people on here, then I just pass it on…But I expect most on here just skip past the links that I post….Take care you old Scallywag…HaHa

          Jul 07, 2016 07:37 AM

          It is appreciated IrishT.

      LPG
      Jul 06, 2016 06:48 PM

      Thanks for the article Irishtony.
      Interesting & appreciated.
      Best to you, and hope all’s well.
      LPG

      Jul 06, 2016 06:14 PM

      This is why Royal Gold popped today.
      Thompson Creek’s Mt Milligan is their billion dollar baby….literally.
      Having a healthy stream partner for a key asset is huge.
      And what if somehow Pascua Lama comes back somehow?

    Jul 06, 2016 06:29 PM

    Good to see the fund getting active.

    Jul 06, 2016 06:30 PM

    Dear Mr. T.
    Thank you for some very interesting editorials.
    I read an interesting theory regarding the S&P and DJ.
    These indexes contains more stock-buy-back than any other index in the world. And therefore they do not behave like other indexes… And here comes the interesting part: An important reason for the companies to buy back stocks is that it a way to bring back profits to the US from abroad, with out paying tax.
    If possible, I’d like to hear your opinion on this argument.
    Best Regards.
    Andreas

      Jul 07, 2016 07:32 AM

      Andreas — very good point. It’s been well chronicled that big buy backs in the recent past have boosted per-share earnings, etc., even if gross company-wide earnings have stagnated. And it’s why the stock market — even the Dow and S&P — have slowed down, with the level of buy backs having started to decline. There’s just not enough organic, legit earnings growth on its own to push stocks higher.

      As for the tax angle, not sure about that. . .

    Jul 06, 2016 06:33 PM
      Jul 06, 2016 06:36 PM

      Hope they get delisted……also.

      Jul 06, 2016 06:40 PM

      Irish TONY beat you to it….see above

    Jul 06, 2016 06:30 PM

    Well here it is in black & white…The whitewash, & we had one here today in the UK with the Chillcot report…..The “BASTARDS F–K US EVERYDAY.
    http://www.zerohedge.com/news/2016-07-06/its-all-over-doj-accepts-fbi-recommendation-ends-probe-clinton-email

      Jul 06, 2016 06:38 PM

      Just saw that…jokers have gone mad..

        Jul 06, 2016 06:42 PM

        Teflmon queen….gets away with another one.

    CFS
    Jul 06, 2016 06:34 PM

    Is this the right Kyle Bass interview?

    https://m.youtube.com/watch?v=muHaeTOFYDs

      LPG
      Jul 06, 2016 06:05 PM

      CFS,
      That’s the right one indeed.
      But that’s a free summary. The interview itself is >1hr long.
      Best,
      LPG

    Jul 06, 2016 06:48 PM

    For my pennyworth, after all this time of bailouts the banks seem to be bust again, without anything happening…just look at the Deutsche Bank and Credit Suisse share prices…I don’t know the answer, but very weird

    CFS
    Jul 06, 2016 06:43 PM

    If you want to discuss immigration with knowledge, you owe it to yourself to watch this:
    https://m.youtube.com/watch?v=GSSSRx5FiQ8

    Jul 06, 2016 06:52 PM

    Hi Doc,
    Youve stated many times that this would be a big U shape recovery in gold. That doesnt appear to be playing out.

      Jul 06, 2016 06:58 PM

      Doc Fan, you’re totally correct—-I do know one thing, this will be a long second leg up. The move higher as far as gold and the PMs is still more grinding up then 2009.

        Jul 06, 2016 06:02 PM

        I might add that if we correct here for a couple of months we’re still in somewhat of a U-shape. However, it looks more and more this move may continue slowly up–we’ll see.

    Jul 06, 2016 06:11 PM

    Here’s why silver is shining brighter than gold
    Cecilia Jamasmie | 2 days ago

    http://www.mining.com/heres-why-silver-is-shining-brighter-than-gold/

    Jul 06, 2016 06:33 PM

    WHAT ARE YOU GOING TO BUY?

    If you are thinking about taking profits from the PM run up….what are you going to buy?

    Jul 06, 2016 06:15 PM
      Jul 07, 2016 07:36 AM

      Newt Gingrich is nearly as accomplished a liar as was Bill Clinton. If Trump picks this totally sold-out Establishment pied piper (who once again now is fooling many ignorant conservatives/populists) he’d better be wearing a LOT of body armor.

      Jul 06, 2016 06:46 PM

      Hillary didn’t need to use the twinkie defense, her and Bill have eaten so many of these nasty treats over the years that Comey just gives her a pardon.

      Jul 07, 2016 07:39 AM

      Yes I saw that too DT. Funny & Fattening!

    CFS
    Jul 06, 2016 06:11 PM

    In preparation for the weekend show:

    https://youtu.be/CLQsT9BPHpg

    Jul 07, 2016 07:04 AM

    My Calico shares are halted at present, but I was expecting something to happen on July 7th based on their press releases that today was the day of the merger.

    MATTHEW – Thanks so much for posting that article a few weeks back from Jayant Bhandari, where he pointed out the arbitrage between the share price in Calico and the share price in Paramount Gold.

    Because of reading that post, I acquired my shares in Callico at $.086 and they closed yesterday at $.1293 (which I believe was still undervalued since the calculation for the conversion is .07 X PZG {2.12} = $.1484 current value. Sometimes a stock will trade at a discount to the conversion ratio, but Jayant was spot on a few weeks back about the arbitrage. This was a no brainer easy 50%+ gain in 2 weeks and I posted on this a few times thus far. I hope others were also able to capitalize on this lay-up of a trade.

    _______________________________________________________________________

    Paramount Gold Nevada Corp Completes Acquisition of Calico Resources Corp. and its Grassy Mountain Gold Project
    Marketwired – 50 minutes ago

    http://www.marketwired.com/press-release/calico-completes-business-combination-with-paramount-tsx-venture-ckb-2140466.htm

      Jul 07, 2016 07:19 AM

      While I’m doling out Thank You’s to KER contributors, I wanted to thank BRIAN again for his post about a month ago on Sabina Gold & Silver (SBB.TO) (SGSVF) on the day when they ran into the permitting snag.

      I had been waiting and waiting for a good entry into that stock, and I knew investors would over-react to that news. I mentioned this a few times on here on KER that this would be a nice snap-back trade. I picked up shares a few times in the $.89-$.83 range and trimmed most of them back yesterday in the $1.10-$1.12 zone. Now I’ve got a cost basis at $.67 on a small core position and can enjoy the ride, and weather any pullbacks. Brian – thanks again man!

      Jul 07, 2016 07:46 AM

      Paramount Gold Nevada Corp. (PZG)
      2.54 Up 0.42(19.81%) 10:44AM EDT – Nasdaq Real Time Price

      Update to post above. Now the Calico shares would be valued at (PZG @ 2.57 x .07 = $.1799). Gadzooks!!

        Jul 07, 2016 07:51 AM

        Sorry the quote kept changing when I was posting that. PZG went from 2.54 to 2.57 so that post came out weird.

        Let’s just use the $2.55 that PZG is currently trading at (multiplied by the .07 conversion rate) = $.1785 per Calico share. They closed yesterday at $.1293, but are on hold today, because I believe they are going to convert over to PZG shares today or tomorrow? If anyone else has any shares of Calico that already converted in your trading platforms as a confirmation please let me know.

        Cheers!