Daily Market Wrap – Fri 8 Jul, 2016

The Dow Jones Industrial Average; Standard and Poors; and, Nasdaq all closed up today after the unemployment rate came in at 4.9%

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Al KorelinChris TempleRichard Postma

  1. On July 8, 2016 at 2:49 pm,
    OOTB Jerry says:

    Exactly Chris, on the big Gold move this morning

  2. On July 8, 2016 at 3:10 pm,
    CFS says:

    You guys seemed not to notice Pt and Pd…….much bigger rises than gold!

    • On July 8, 2016 at 3:29 pm,
      irishtony says:

      Pt & silver appeared to move in lock step today, anybody else notice.

  3. On July 8, 2016 at 3:38 pm,
    james says:

    ONLY GOLD ! DAY ARE PUPING WATER !!! https://www.youtube.com/watch?v=UbjVJTfugLY

    • On July 8, 2016 at 3:53 pm,
      james says:

      Water make humans work !

      • On July 8, 2016 at 4:02 pm,
        james says:
        • On July 8, 2016 at 4:09 pm,
          james says:

          I a Good Man! Buy real gold 1 stock i hold 5 years BUY ORVANA MINERALS ! Can’t lose !

          • On July 8, 2016 at 4:15 pm,
            james says:

            Buy silver ! Don’t buy stocks buy real silver !!!!!!!!!!!!!!!!!!!!!!!!!!!!

          • On July 8, 2016 at 5:26 pm,
            trader jake says:

            James, real silver in hand. +9

            No mining shares. They are going
            to zero. No notice. One day the
            system will lock up. Or enjoy the
            ride while it lasts. Live everyday
            like its your last. For high risk players
            who have no regard for eternal things.

  4. On July 8, 2016 at 3:56 pm,
    Dennis M. O'Neil says:

    It is going to be a long night for police officers all over the nation.

    • On July 8, 2016 at 3:57 pm,
      Dennis M. O'Neil says:

      It happens every week……….it is Friday.

  5. On July 8, 2016 at 6:41 pm,
    Matthew says:

    The NYSE Gold Miners Index just had its highest weekly close since early April, 2013. So even the worst market timers are up if they spent the last three years accumulating their positions. However, those who bought the best companies on serious weakness have done extremely well.

    You can buy wrong or sell wrong and still make money but you can’t do both and get away with it – yet most will keep trying.


    Notice that the 200 week EMA has crossed above the 200 week simple MA.

  6. On July 8, 2016 at 6:43 pm,
    CFS says:
  7. On July 8, 2016 at 6:45 pm,
    Matthew says:

    Silver finished another week bullishly above its weekly Bollinger Band and finally took out the 200 week MA as well…


  8. On July 8, 2016 at 6:53 pm,
    Matthew says:

    The USDX is down about 26% since late November when priced in gold…


  9. On July 8, 2016 at 10:56 pm,
    Bob UK says:

    Sounds like Chris and the Doc are saying that even now, after some miners have seen 500 or 600 percent increases in just 6 months, that it is still time to get into loads of the miners?

    Are some of the miners actually still going to double from here?

    • On July 8, 2016 at 11:04 pm,
      Skeeta says:

      Many of the Juniors will still go many, many multiples of just a double Bob. ESPECIALLY those whose COSTS are based in currencies other than the $US.
      Its important (imo) to look at not only good mining prospects, management & cash burn……but also the currency the costs are based on.

      • On July 8, 2016 at 11:27 pm,
        Bob UK says:

        I was watching several US miners, such as Coeur, this week and it just kept going up despite silver going down at times. It is, as an example, up about 6 or 7 times from its start of the year low – it seems crazy that it could still double in price from here.

        So is a US miner like Coeur an example of one that could double, or more, from here or are you talking about miners in places like Oz, South America, etc?

        • On July 9, 2016 at 12:09 am,
          Skeeta says:

          Bob, I have no holding nor follow Coeur.
          I’m talking about miners whose COSTS are based in currencies like the Aussie, the Rand, the Looney etc.
          Many of whom that have benefited already…..& will benefit more so imo in time to come.

          • On July 9, 2016 at 12:10 am,
            Bob UK says:

            Ah, OK. Understood Skeeta.

          • On July 9, 2016 at 12:35 am,
            Skeeta says:

            Its also about a currency play Bob, not just a gold price rise in $US.
            Look no further than the Pound’s reaction after the Brexit leave vote.
            Local Mining currency costs versus a $US gold price are two different entities.
            The gold spot price in $US can be falling/going sideways but rising elsewhere in other mining jurisdictions.
            Its a currency play.

          • On July 9, 2016 at 3:20 pm,
            Excelsior says:

            Skeeta – I agree with your reasoning on the currency advantages for certain miners operating in Canada, Australia, Africa, and S. S. America. This has been true all year and will remain so moving forward, unless the US Dollar falls out of bed for some reason, (which I’m not really expecting). For the mid-term, I see the greenbackcontinuing to trading in a range where it has been between over the last year or so.

        • On July 9, 2016 at 6:26 am,
          Bonzo Barzini says:

          I sold my Coeur@12.06 on Thurs, so it will probably double from here.

          • On July 9, 2016 at 6:46 am,
            Bob UK says:

            Ha ha ha Bonzo – at least you should have made some excellent profits?

            Out of interest, why did you sell up?

  10. On July 17, 2016 at 9:06 pm,
    Donte says:

    I have been so belwederid in the past but now it all makes sense!