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Are the summer doldrums officially here?

Big Al
August 8, 2016

Doc joins us to wrap up the markets on what turned out to be a slow day from start to finish. It seems to be that the summer doldrums are finally here. We look to the week ahead to find what data points and stories will drive money flows. Retail sales on Friday are the biggest ticket item and we all have some comments on where those have been.

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Discussion
161 Comments
    DFS
    Aug 08, 2016 08:08 PM
    Aug 08, 2016 08:44 PM

    I think now’s the time to rebalance your portfolio, there will probably be no big moves for a few weeks so its a good time to position because when it kicks off again the moves will swamp you before you have a chance to think

    Aug 08, 2016 08:50 PM

    The doldrums right before the calamity.

    The tightening of the BBands on SPX and JNK tells a little story. The STOX50 and DAX are starting to get pretty tight too.

    The Duetsche bank story is about to play out. DB has been the pillar of A rated bank paper for pension funds and insurance companies for many years. When the announcement of a downgrade comes (usually at market close on Friday’s) there will be the black swan. And when oil drops, this time the junk bonds go…

    This article pretty much sums up the inevitable that’s has been brewing for a while now. Warren Buffet exits all junk bond and muni bond CDSs. When Buffet pulls out, look out!

    Either this coming Friday or the next, we will see fireworks! And that will bring us the the system change or reset that is needed.

    http://www.zerohedge.com/news/2016-08-08/buffett-exits-entire-credit-default-swap-exposure-citis-appetite-derivatives-surges

    Aug 08, 2016 08:55 PM

    My big issue (i have with myself) is to put more money in gold – currently £1023 – could have bought it at £700 one year ago – feels painful to pay that price – ummm I don’t know

      Aug 08, 2016 08:56 PM

      As far as I can tell gold is still doing nothing more than following along a pattern that says this is still a bear market rally. If that is correct then it has a long way to fall back before we get to the real bottom. Gold must break out above 1400 and stay there for a while before I can consider agreeing this is a real bull market in precious metals that is now underway. It looks toppy here fortunately and the downside is beckoning. So another chance to buy at old lows prices way still await.

        Aug 08, 2016 08:09 PM

        Hi Birdman, I don’t agree or disagree, I wave my head going ummm, my gut says its going to break higher, my head says it will be forced lower, the one thing I do think is when it breaks higher from this level or a lower level it will be so quick you cannot time it, Birman what do you think? I’m not sure bottoms happen as you expect, but i’ve been around long enough not to predict bottoms so I’m stuck in ummm

          Aug 08, 2016 08:22 PM

          What do I think Nigel?

          Well I think gold is still in a bear market Nigel, that’s what I think. Silver too for that matter. And I think if it turns out I have been correct all along and the rest of this site (most of the world now in fact) is wrong, that my critics be prepared to invest as much energy and time complimenting me as they have criticizing!!!

          (as if that will ever happen) Ha ha ha!!! 🙂

          But this is it Nigel. The last line in the sand. If gold gets above 1400 its all over for my theory and I will be the one admitting he was wrong. Even I will “officially” agree this is a new bull market in precious metals.

          Thankfully that isn’t going to happen since we have that lovely megaphone pattern in both gold and the Yen to contend with first and both look like they will finish with fairly sizeable declines.

          Not that I care all that much from an investment point of view. I only want to hear Robert Bloviarty eat some of his words and apologize for being such a blowhard all the time.

            Aug 09, 2016 09:02 PM

            Birdman:

            I thought you were going to stop being a giant loudmouth asshole all the time.

            Aug 09, 2016 09:03 PM

            I lied. 🙂

          Aug 08, 2016 08:40 PM

          Getting serious now Nigel, both gold and silver have entered August with a left translated double top and are now preparing for a significant declines into the fall. The widespread assumption in the gold community is that metals will merely correct a little at this stage before taking a moonshot beginning as soon as December.

          The belief hinges on the idea that once the “serious money” sees gold has staying power then the big boys will pile in and send metals and miners to the moon, baby. And they would be right if gold holds up (but it won’t).

          The bugs are just wetting their pants in anticipation because they picked up stocks so dirt cheap already that some of them will be retiring on this trade before 2017 is out. And G-d bless them all since they got so punished for the past 5 years waiting.

          But I am sorry to say I think disappointment awaits. Gold stands the chance of collapsing in price one more time if that broadening pattern is now being confirmed. And if that is the case it is still possible for both gold and silver to yet see lower-lows before putting in the *real* final bottom.

          Aug 09, 2016 09:31 AM

          Platinum is pretty much done too. Check it on a monthly chart. She’s cooked and suffering from the same expanding wedge (daily chart) that is going to sink silver and gold. Even copper when viewed on the weekly is still in decline. Not at the bottom yet. Nobody wants to believe that around here but sorry we are still in deflation until this ends.

          And it will end. Just nobody can time it properly. Inflation is still a fantasy though.

            Aug 09, 2016 09:28 AM

            Here’s a monthly chart for those who can view it:

            http://schrts.co/ddyWeR

            Platinum looks fantastic.

            *I do not own platinum or platinum miners.

            Aug 09, 2016 09:20 AM

            Nope, Can’t see it. Well that saved me a lot of wasted time. Better luck next time champ.

            Aug 09, 2016 09:35 AM

            I didn’t post it for the Birdman. “Champ”

            Aug 09, 2016 09:47 AM

            Here is a chart of you…..

            Can you see it buddy?

            http://schrts/blah blah blah

            Aug 09, 2016 09:54 AM

            Sorry, I’m not interested in your delusions. Thanks anyway, though.

            Aug 09, 2016 09:55 AM

            Thanks Mathew.. platinum is doing fine

            Aug 09, 2016 09:58 AM

            I thought that was pretty funny actually. Where is your sense of humor?

            Aug 09, 2016 09:14 AM

            Matthew I agree on Platinum, but I’m very constructive on the PGMs.

            I posted below that Polymet and Northern Shield have had nice moves up today.

            Polyment is a Nickel, Copper, PGM development story in the Duluth Complex nearing the final permitting for construction.

            Northern Shield has become the most speculative (and highly anticipated) exploration play for PGMs.

            I still really like the prospects for Wellgreen Platinum, and Platinum Group Metals.

            Aug 09, 2016 09:09 PM

            Birdman:

            As usual, you are dead wrong again when you said, “Just nobody can time it properly.”

            Have you ever made a call that matches this? I said, “It May Well be Time to Dump Gold And buy platinum.

            http://www.321gold.com/editorials/moriarty/moriarty062116.html

            Gold was $331 higher than platinum then, now it’s $186. That’s not saying I’m smarter than anyone in the room, I point out in my book that anyone can make investments like that that are low risk and high potential if they know where to find the information. That is anyone but you. You pass a lot of hot air but nothing that someone could actually make money from.

            And when you finally get caught in a lie, you flip flop about what you really meant.

            You need to go down to your local Walmart in East BF or whatever hell hole you live in and get a life.

            Aug 09, 2016 09:19 PM

            Oh look….Bloviarty is back!

            Aug 09, 2016 09:27 PM

            Anyway Bob….gold has got to break 1400 and stay there a few days before I will agree this is a new bull market. Unlike you I have rules that I follow so as to stop me from just pissing in the wind like an old gas bag every day. We are still within the bear market until we get above that level. I am not saying that it won’t happen either. Frankly I am still pretty surprised we got this far but the deal is not sealed until that hurdle is crossed. Not that someone like you knows much about it anyway. You made some of the WORST stock picks the past few years I saw anywhere on the web. People might have gone broke buying your trades. Until January when all boats rose you were a complete loser in that department as far as I could tell. Now you are just plain lucky. Like a monkey throwing darts.

          Aug 09, 2016 09:55 PM

          Birdman:

          And when gold does spend a few days over $1400 you will deny every saying it would mark a bull market.

          You don’t say anything that people can make money from. You act as if everyone here is dying to hear what your opinion is. And when you have been wrong 100% of the time, you prattle on about how everyone here would fail to honor you if you ever happened to be right.

          Well, there isn’t much chance of that happening. You aren’t even smart enough to know when you are dead wrong and have been dead wrong for a year.

          All you do well is snipe at everyone else and then whine about being a victim. Now what country did you learn that from?

            Aug 09, 2016 09:05 PM

            You are hilarious Bob. Lets party together one day.

            Aug 09, 2016 09:30 PM

            Birdman, you’ve tarred and feathered yourself with your calls but don’t even realize it.

            FYI – those rules that you claim to have should be discarded immediately if you plan on ever making a little money.

            Aug 09, 2016 09:03 PM

            You assume far too much. What gold stocks I bought or sold is not part of the discussion and as you know I rarely comment on that. I like to leave all the bragging to guys like you who seem to get a thrill from it even though you are completely anonymous (in other words its a complete waste of your time since nobody here cares anyway). This discussion however is about the point at which I will agree this is a bull market. Check your charts. We are still technically within the bear which began in 2011 and until we see a break above 1400 we are not there yet. And that’s a fact Mac so I am hardly tarred and feathered. Actually there is meaning and purpose to following some technical rules. They can often keep guys out of hot water. I won’t bother with the details though since your type prefers to shoot from the hip and invest by gut feelings or anticipation. Usually that’s a bad combination which is why you had such poor performance for the four and a half years up until this January.

            Aug 09, 2016 09:20 PM

            And you said Bob was hilarious?!

            Aug 09, 2016 09:55 PM

            Exactly.

            Notice I have never said that about you?

    DFS
    Aug 08, 2016 08:58 PM

    http://www.zerohedge.com/news/2016-08-08/crfb-calculates-what-donald-trumps-revised-tax-plan-will-do-us-debt
    It over-estimates by using static, as opposed to dynamic accounting, but nevertheless Trump’s tax plans are crazy cuckoland dreams. He clearly has never operated on a tight budget, which explains his use of chapter 11 bankruptcy so often
    HINT: Mr. trump, bankruptcy does not work very well for a country!

      Aug 08, 2016 08:09 PM

      CFS…You have been on a roll for the past two weeks , keep it coming , you clever man.

      Aug 08, 2016 08:29 PM

      Chapter 11 and repayment plan is a little different than a Chapter 7-which the US government should claim ,let alone most TBTF banks……and a few American cities ,at least it is not against the law

        Aug 08, 2016 08:34 PM

        Kick the bumbs out.

          Aug 08, 2016 08:45 PM

          The USA is broke.

          Aug 08, 2016 08:14 PM

          Bums ,.this phone has a mind of it’s own

          Aug 09, 2016 09:54 AM

          The DEEP STATE, may not want HILLY, zerohedge

    DFS
    Aug 08, 2016 08:09 PM

    Not verifiable yet.
    According to the Turkish newspaper Yeni Safak Daily, the failed military coup in Turkey was staged by the White House. The newspaper is providing details regarding who exactly was behind the preparations of this bloody event, noting that due to rapidly deteriorating relations between the Obama administration and Turkish leader Tayyip Erdogan, Washington launched an operation to create preconditions for the toppling of the Turkish president.

    It’s noted that the massive propaganda war against Erdogan coupled with the extensive amount of pressure that was put on German Chancellor Angela Merkel and other European politicians who are heavily influenced by Washington to prevent Turkey’s accession to the EU, despite a string of encouraging promises that have been fed to Ankara for the last three decades, was but the first step. This push was followed by the demand of former US ambassadors who published a former appeal to Tayyip Erdogan in the White House mouthpiece – The Washington Post, demanding Erdogan to step down immediately.

    The new phase of confrontation between Ankara and Washington started last April, once Turkish officials threatened to ban US military personnel from using the Incirlik military base. Yet, the main reason behind the failed military coup that was prepared in much haste, was rapprochement between Ankara and Moscow that was perceived by the White House as a major threat to US domination in the Middle East.

    According to a recent journalistic investigation, US intelligence services spent over 2 billion dollars on the preparations of the failed military in Turkey. The mastermind behind the coup, we are being told, is the former commander of the International Security Assistance Force (ISAF) in Afghanistan, General John F. Campbell. He was behind the planning of this operation and instructing Turkish military officers at the Incirlik military base. It’s been reported that this American General acted under the direct supervision of the CIA and in close contact with the movement of the self-exiled cleric Fethullah Gülen, who resides in Pennsylvania. The 2 billion dollars that Washington decided to spent on the coup was transferred to Campbell via Nigerian bank UBA. This sum was used to bribe Turkish officers who decided to participate in the failed coup attempt.

      Aug 08, 2016 08:19 PM

      Turkey / Russia…A strange marriage… Arranged by the USA.
      Roadrunner cartoons come to mind…BEEP-BEEP. Everybody loves “ACME” INC.

      Aug 08, 2016 08:12 PM

      Well, it was a very badly planned and executed coup so, if true, any American military involved should be sent off for early retirement.

      Aug 08, 2016 08:14 PM

      Can you believe anything that comes out of Turkish media these days considering that so many journos have been locked up by Erdogan?

        DFS
        Aug 08, 2016 08:23 PM

        That why I started with “not verifiable”

          Aug 09, 2016 09:17 AM

          In other news, man wearing tin foil hats says that he was probed on spaceship by aliens.

      Aug 08, 2016 08:14 PM

      Just another Bay-of-pigs for Obama.
      His failures are adding up……that is unless he intended the results.

    DFS
    Aug 08, 2016 08:15 PM

    We do know it follows similar processes to the installation of a puppet government in Ukraine, which was then overturned by the people. Russia, of course, never left its naval base in Crimea, despite obama’s lying claims of Russia invading and seizing back Crimea.

    DFS
    Aug 08, 2016 08:25 PM

    Mill rock, a company one-time recommended by Jay Taylor, MRO.V was up 24% today.
    I don’t know why.

      Aug 08, 2016 08:38 PM

      ‘Cause it’s a damn good prospect generator…..

    DFS
    Aug 08, 2016 08:47 PM

    Renewable energy consumption targets were mandated by the Energy Policy Act of 2005 that required 7.5 percent renewable energy consumption by 2015, and Executive Order 14323 that required 50 percent of statutorily required renewable energy consumption to come from “new” sources.
    I have been examining some of the projects initiated under these mandates as part of a knowledge build, prior to getting some solar work done on my CA home.
    I clearly should not have. It will be days before I calm down to just being livid at the waste of tax-payer money.

      Aug 08, 2016 08:16 PM

      Is this a solar power investment opportunity? That gobbledly gook you just wrote about US regs – what does it mean from an investment POV?

        DFS
        Aug 08, 2016 08:40 PM

        Yes, sorry I just got more upset, the more I looked into it. Mostly solar installations on Veterans Administration buildings, scattered around the country. I wanted to look at various different states. I tracked about 20 different installations from San Diego to New York State. The incompetence was incredible. Design changes, cost over-runs. Installation started in 2010 supposed to be finished 2013, but still not working. Installing solar panels is not rocket science!
        (Incidentally the government gave up on federal rocket science programs!)
        Assuming everything ends up working, the cost over-runs will be 400+ % if no more money is spent. Yet in private industry, one sees new solar installations done typically within a few months….the cost is not documented on the internet like government programs are, so I can’t look into their efficiency.

          Aug 08, 2016 08:48 PM

          The government is not efficient at running anything, so no surprise there from the ever-growing nanny-state….. Private industry has to actually compete and carry out business things with a real budget, so it will always be more efficient.

        DFS
        Aug 08, 2016 08:42 PM

        I was ramping up my knowledge of manufacturers, installers, etc.

          DFS
          Aug 08, 2016 08:53 PM

          I would share my findings with this site, of course.
          E.g. Not a recommendation, but
          Canadian Solar (NASDAQ:CSIQ) traded up 0.851% during midday trading on Monday, reaching $14.694. 573,485 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $14.94 and a 200 day moving average price of $17.83. Canadian Solar has a 12-month low of $13.56 and a 12-month high of $29.83. The company has a market cap of $836.10 million and a price-to-earnings ratio of 6.414.
          Is a company that installs major installations all over N. America.

            Aug 08, 2016 08:27 PM

            Thanks DFS.

            Have you ever looked into (UGE.V) (UGEIF) for the solar roof installations for large corporate clients and office buildings?

            http://www.ugei.com/

            DFS
            Aug 09, 2016 09:10 AM

            Ex, no, I have not looked at Uge, I have been sticking to companies with positive earnings, rather than negative.

            Aug 09, 2016 09:58 AM

            It is a relatively new player in the solar space, so it’s normal to have negative earnings as it grows. I’m more interested in quarter of quarter and year over year improvement.

      Aug 08, 2016 08:45 PM

      DFS – That was my point after the Paris summit, whether one agrees with the laws, programs, or new energy mandates, it doesn’t make sense to fight the trend. There are some good renewable energy companies run like actual businesses that are likely to grow substantially on a percentage basis.

      There are also some interesting energy efficiency companies like LIME or Orion Energy Systems, that help corporations reduce their power needs, and keep a portion of the savings. I find that to be an interesting business model.

      There are all kinds of interesting things happening in the energy space, and it isn’t just Oil and Gas…..

        DFS
        Aug 09, 2016 09:55 AM

        I’m still in recon mode, exploring possibilities…..very time-consuming, ramping up knowledge in a new area.

          Aug 09, 2016 09:34 AM

          Yes, there is a bunch of information to sift through in the Renewable energy sector.

    DFS
    Aug 08, 2016 08:49 PM

    The above was for Federal Buildings.

    Aug 08, 2016 08:49 PM

    Mexus Gold joint venture partner (MarMar) performs first blasts at Santa Elena mine
    08/08/2016

    http://www.mexusgoldus.com/news.php

      Aug 08, 2016 08:50 PM

      Kaboom! It’s about time they start blowing up some rocks and get that mine back into production….

      Aug 08, 2016 08:07 PM

      Here were a couple of fun gains in my trading account today that we’ve discussed on here a few times:

      Montan Mining Corp. (SAIDF)
      $0.06 up +$0.01 (+10.00% gain)

      Mexus Gold US (MXSG)
      $0.06 up +$0.01 (+12.28%)

      Aurcana Corporation (AUNFF)
      $0.49 up +$0.07 (+15.78% gain)

      Nicola Mining Inc. (HUSIF)
      $0.17 up +$0.03 (+17.76% gain)

      Millrock Resources Inc. (MLRKF)
      $0.47 up +$0.11 (+29.59% gain)

        Aug 08, 2016 08:15 PM

        Here’s how the Gold and Silver ETFs did….

        VanEck Vectors Gold Miners ETF (GDX)
        $30.50 +$0.27 (+0.89% gain)

        VanEck Vectors Junior Gold Miners ETF (GDXJ)
        $50.23 up +$0.82 (+1.66% gain)

        Global X Silver Miners ETF (SIL)
        $51.54 up +$1.00 (+1.98%gain)

        PureFunds ISE Junior Silver ETF (SILJ)
        $18.68 up +$0.40 (+2.19% gain)

          Aug 08, 2016 08:01 PM

          Ex,
          I’m a big SILJ and GDXJ fan. But right now I’m a ZSL fan. My TA says metals are headed south. The trend will be south for a while. Just sayin

            Aug 08, 2016 08:09 PM

            Hey Chartster – Yes, that could very well be the case. 50% of people expect one more big surge higher, and the other half are expecting the breakdown to continue. I guess that is what makes a market 🙂

            May you be incredibly prosperous in your trading sir.

            Aug 08, 2016 08:09 PM

            Well, the “trend” is north, the “swing” is south.

            Aug 08, 2016 08:13 PM

            We’ll just have to swing-trade the trends then…., and trend with the swings…..

            Aug 08, 2016 08:15 PM

            Hey, great comments over the weekend regarding uranium!

            And may your trading be easy in,and easy out😏

            Aug 08, 2016 08:17 PM

            Thanks man.

        Aug 08, 2016 08:18 PM

        Here’s one that I wish I would have pulled the trigger on last week……

        Silver Bear Resources Inc. (SVBRF)
        $0.306 up +$0.036 (+13.33% gain)

        Like Brian says…. “If you can’t own all of them, at least own some of them.”

    Aug 08, 2016 08:44 PM

    Osisko Mining Announces Acquisition of Common Shares of Barkerville Gold
    TORONTO, ONTARIO–(Marketwired – Aug. 8, 2016)

    “After giving effect to the Transaction, Osisko will have ownership of a total of 50,000,000 Barkerville Shares, representing approximately 17% of the total number of issued Barkerville Shares.”

    http://www.marketwired.com/press-release/osisko-mining-announces-acquisition-of-common-shares-of-barkerville-gold-tsx-osk-2148888.htm

      Aug 08, 2016 08:37 PM

      Any comments on the deal?
      I acquired shares of Osisko when they merged Ryan Gold.
      This one is kind of a head scratcher for me.They paid up for the shares and E.Sprott was the seller.Things that make you go hmmm.

        Aug 08, 2016 08:47 PM

        I just think it is clear that Osisko Mining is getting more interested in Barkerville Gold, and with them raising their ownership to 17%, that’s going to put some wind in the sails of BGM.V.

        There was the interview with Sean here on the KER that Cory did last week, and he talked about their increasing interest in Barkerville Gold and Falco, and how their technical teams were lending help to those teams. Looks like they are putting their money where their mouth is 😉

          Aug 08, 2016 08:49 PM

          Osisko Gold Royalties has also invested in NuLegacy Gold, so they are staking out partial ownership in companies they like. Now I want them to buy out Golden Valley Mines GZZ.V as a back door into half of Abitibit Royalties…..

          Aug 08, 2016 08:51 PM

          Here’s the link back to the show where Cory interviewed Sean….

          AN EXCLUSIVE INTERVIEW WITH OSISKO GOLD ROYALTIES
          Recorded live from the Sprott Natural Resource Symposium Cory had the opportunity to sit down with Sean Roosen, Chairman and CEO of Osisko Gold Royalties (TSX:OR).

          http://www.kereport.com/2016/07/30/exclusive-interview-osisko-gold-royalties/

            Aug 08, 2016 08:28 PM

            Thanks for the link Shad.
            Sounds like Osisko Gold Royalties is one to keep your eye on.

            Aug 09, 2016 09:26 AM

            Yes sir. Even though Royal Gold, Franco-Nevada, and Silver Wheaton are far more established companies, I think there is more upside potential in Sandstorm Gold and Osisko Gold Royalties.

      DFS
      Aug 09, 2016 09:57 AM

      I’ve owned Barkerville for a while. Had forgotten about it.

    Aug 09, 2016 09:39 AM

    So is 2016 starting to look a little like 2015 to anyone else here?

    Last year around this time the VIX was at a similarly low point. It was in mid July actually when VIX futures dropped to the same kind of lows we are seeing today. By mid August the market was in a tailspin and the S&P fell almost 300 points before it was rescued when traders came back from summer vacation.

    This year the VIX is looking like it will make a double bottom near 12 dollars…..just a few cents away from there now and right in the same range as last year this time. And if the past is an indicator of the future we may well see the markets start to sell-off by the start of next week.

    Keep your eyes on it.

    Wall Street likes to start September with some meat on the bones to make the year end look good and oversold stocks are not really what the doctor has in mind. So it suits the boys well to pull out the rug during slow times like now and during thin seasonal trading.

    That VIX reading as it fast approaches 12 bucks is telling us something interesting is coming our way and it could arrive very soon so stay on guard and be prepared. The big banks have after all been warning of some kind of correction for the past month or more.

    I do not doubt them for a second. Its in their interest to make sure it happens!

    VIX Daily Chart — A Curious similarity exists with last year. Just a month after VIX posted that 12 dollar and change number it was up almost 250% by Augusts end.
    http://finviz.com/futures_charts.ashx?t=VX&p=d1

      Aug 09, 2016 09:58 AM

      So I figure the stock market is going to take a pummeling this month and if I am correct, gold and silver stocks are going to get very bloodied right along with everything else as metals prices turn down coincidental to a more broad market decline.

      I am not making any bets on the intensity of an August correction though. It might be very mild or then again it could surprise. Watch the NASDAQ though because it too (funny about these patterns eh?) has formed a megaphone pattern that looks just about ready to pop like a boil.

      I am thinking NASDAQ 3800 (see futures chart below) is in the cards. Just get out your trusty ruler and follow the pattern of the expanding wedge both top and bottom and see where the lower boundary takes you.

      Nasdaq Weekly Chart — Notice the megaphone pattern that has developed during 2014 / 2016
      http://finviz.com/futures_charts.ashx?t=NQ&p=w1

        Aug 09, 2016 09:58 AM

        I meant to write 2015 / 2016 of course……

          DFS
          Aug 09, 2016 09:41 AM

          Birdman, riddle me this.
          As money comes out of the stock market, where will it go?
          Do you think, people will view it as safe in banks? (I include brokerage account cash, as being in a bank.)

            Aug 09, 2016 09:55 AM

            What do you think Riddler? Does it maybe depend on who the people are? They are not all created equal as you know.

            Aug 09, 2016 09:15 AM

            Never presume you have all the answers. By the way, what does the D stand for in your name? I was wondering because your arrogance has been rising as your IQ drops so its quite a puzzle.

            Aug 09, 2016 09:34 AM

            Now riddle me this Batman?

            Don’t you think its curious that the Commercials are holding record short positions on gold even as they are also record long Volatility via VIX? In other words they are betting on both a sharp rise in market instability and a drop in gold prices which is another way of saying short markets and short gold at the same time. The large money has also turned negative on the Dow in the past few months judging by the COTS.

            So don’t assume that there will be any rotation from stocks into precious metals anytime soon no matter how compelling that idea might sound. I don’t think that’s the immediate future anyway….more like baby out with the bathwater if I am getting a fair read on the future.

            DFS
            Aug 09, 2016 09:12 AM

            I assume the commercials assume they have sufficient power to drive the market where they want it, in order to make a profit.
            Usually they do. I don’t know, this time. Perhaps it is different, perhaps, not.
            I have not said gold is going up or down. I always ask question trying to probe and learn reasons why I should choose a direction.
            I do believe a longer time in the future the price WILL be higher, but between now and then, I don’t know. I have several times pointed out that during the twenties/thirties, gold did not hold value until wages and costs of mining plummeted to make mining profitable.
            (Actual price of the metal was irrelevant, due to government action.)

            DFS
            Aug 09, 2016 09:00 AM

            Biased, of course, but informed….

            http://www.milesfranklin.com/bs-nfp-attack-fail/

            Aug 09, 2016 09:15 AM

            Well Professor, VIX has come within a nickel of 12 dollars this morning.

            It arrived much faster than expected so kicking the tires on a volatility trade might now be in order. Fact is, I don’t know how long it can live at these low levels and I can’t say for certain it won’t see even lower-lows yet. But the odds are sure suggestive and if you follow this trade you know its usually just a matter of time before something gives as complacency reaches extremes.

            I give it a week tops. I am thinking this coming Monday the markets get a little more jiggy in a red kind of way. So its make or break time for precious metals and we get to see if money really rotates out of stocks and into gold as the bugs keep insisting will happen or if miners go down with the broad markets.

            You feeling lucky kid? (as Chris Temple was quoting the other day!).

            Then load up on miners I suppose although I wouldn’t take that particular bet right now but be my guest. What I love about VIX is its immediacy. It kind of runs like a clock if you notice the way it spikes up and down over time. So you can almost put the trade on the clock.

            What you don’t know is if volatility will be fierce or tame though. That part is just guesswork as far as I can tell. But you do know there will be action once a certain level is hit and I doubt this time will be any different.

    DFS
    Aug 09, 2016 09:38 AM

    The most important opinion piece on Zerohedge in a while:

    http://www.zerohedge.com/news/2016-08-07/7-steps-easiest-short-recent-history

    I still don’t understand why immigrants hate Sweden; it has not taken any significant part in Middle Eastern wars to my knowledge. (Perhaps I lack info in this regard)
    I certainly do not understand why European countries would allow any further immigration; as an alternative to setting up safe locations somewhere in the Middle East or North Africa for refugees.
    I do, however, still believe Islam to be an uncivilized sexist religion, which denigrates women, and in need of reformation.
    Clearly Sharia Law is not compatible with the US Constitution, so I do not understand why we allow any immigration of people who will not ever accept the Constitution, without having to give up at least part of their religious beliefs.

    Aug 09, 2016 09:41 AM

    Jaguar Announces Q2 Financial Results; Achieves Strong Q2 2016 Gold Production and Development Success

    Q2 2016 Key Financial Highlights

    -Revenue increased 31% to $30.0 million, compared with $22.8 million in Q2 2015, due to a 25% increase in ounces sold and a 5% increase in the average realized gold price to $1,251 in Q2 2016 compared with $1,190 in Q2 2015.
    -Strong operating cash flow of $10.4 million (excluding cash tax refunds) compared to $0.3 million in Q2 2015.
    -Consolidated cash operating costs (“COC”) decreased 13% to $758 per ounce sold, compared to $876 per ounce sold for Q2 2015.
    -Consolidated all-in sustaining costs (“AISC”) of $1,203 per ounce sold, reflecting a significant increase in sustaining capital expenditures, consistent with AISC in Q2 2015…
    http://juniorminingnetwork.com/junior-miner-news/press-releases/1044-tsx/jag/23228-jaguar-announces-q2-financial-results-achieves-strong-q2-2016-gold-production-and-development-success.html

    Aug 09, 2016 09:51 AM

    Strategic Metals Announces Commencement of Drilling at Its Hartless Joe Property in Yukon Territory

    The phase 2 program has started with diamond drilling at the Hartless Joe property near Whitehorse in southern Yukon. The drilling will explore downdip of trenches at the King and Queen showings, where chip samples collected earlier this summer graded 44.3 g/t gold across 2.10 m and 462 g/t gold across 0.4 m, respectively…

    http://juniorminingnetwork.com/junior-miner-news/press-releases/412-tsx-venture/smd/23243-strategic-metals-announces-commencement-of-drilling-at-its-hartless-joe-property-in-yukon-territory.html

    DFS
    Aug 09, 2016 09:00 AM

    GSV up 24% so far this morning.

    DFS
    Aug 09, 2016 09:43 AM

    Silver:

    Price Support Pivot Point Resistance
    19.8450 19.3993 19.7103 20.0213

    Aug 09, 2016 09:49 AM

    Don’t let the title of this article from MiningStockReview fool you. 3 of the 5 JR miners they expect to outperform are Silver companies…..

    ___________________________________________________________________________

    Junior Gold Miners outperforming sector – MSR

    “A few Junior we are expecting to outperform the market which hasn’t had the full run that others had are.”

    Integra Gold Corp (ICG.V)
    Santa Cruz Silver (SCZ.V)
    First Mining Fiance ( FF.V)
    Americas Silver Corp ( USA.TO)
    Great Panther Silver ( GPR.TO)

    http://miningstockreview.com/junior-gold-miners-outperforming-sector/

      DFS
      Aug 09, 2016 09:07 AM

      Pure Gold Intersects 21.7 g/t Gold Over 6.0 Metres, Including 61.8 g/t Gold Over 2.0 Metres at the Madsen Gold Project

      VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 9, 2016) – Pure Gold Mining Inc. (TSX VENTURE:PGM) (“Pure Gold” or the “Company”) is pleased to announce additional drill results from the ongoing 51,000 metre drill program at the Company’s 100% owned Madsen Gold Project (“Madsen”). Results reported herein are from the ongoing three drill rig exploration program, designed to discover new resources and build continuity of high grade gold in close proximity to the existing permitted mining infrastructure.

        Aug 09, 2016 09:11 AM

        Nice drill results for Pure Gold. They’ve been doing great lately, but they have a solid management team, so there ya go…..

      Aug 09, 2016 09:17 AM

      Here’s another recent Article from Mining Stock Review:

      ____________________________________________________________________________

      Best Gold & Silver Stocks to Buy now
      August 7, 2016

      “Here is our List of the Top 5 Gold & Silver companies to Buy Now in 2016:”

      Barrick Gold (ABX.TO)
      First Majestic Silver ( FR.TO)
      Tahoe Resources ( THO-TO)
      McEwen Mining ( MUX.TO)
      Teranga Gold ( TGZ.TO)

      “These stocks are more Volatile and the stock prices move faster up and down as the price of Gold moves but I believe these companies have lots to offer and in this Gold Bull Market environment where lots of institutional and private investor money is entering the space these companies have a good chance of getting the attention and possibly seeing a rising stock price. Not to mention the possibility of being bought out by larger Gold companies looking to take advantage of the low stock prices available today. As I mentioned most of the companies have already seen a nice rise in price since the beginning of the year but i believe there is still room for them to go even higher.”

      Integra Gold ( ICG.V)
      Americas Silver Corp (USA.TO)
      Monarques Gold ( MQR.V)
      Red Eagle Mining ( RD.V)
      First Mining Finance (FF.V)

      http://miningstockreview.com/best-gold-silver-stocks-to-buy-now/

    Aug 09, 2016 09:25 AM

    What is your opinion on silver Matthew? TIA

    Aug 09, 2016 09:29 AM

    Some one must have gotten nasty

    DFS
    Aug 09, 2016 09:36 AM

    Economy not so good?

    US wholesale inventories rise 0.3 percent in June
    By JOSH BOAK – AP – 1 hr 25 mins ago

    Aug 09, 2016 09:44 AM

    Ivanhoe Mines has continued to charge coming out of the Sprott Conference, now that there is some awareness around their high grade PGM, Copper, and Zinc assets.

    Is it getting a bit frothy though in the short term?

    http://stockcharts.com/h-sc/ui?s=IVPAF&p=D&yr=1&mn=0&dy=0&id=p85851830435

    Aug 09, 2016 09:53 AM

    Polymet Mining Corp. (PLM) is up nicely today.

    $0.93 +$0.11 (+12.73% gain)

    DFS
    Aug 09, 2016 09:58 AM

    London closes, Commercials hit…..

    Aug 09, 2016 09:03 AM

    Pullbacks in the gold space are buying opportunities. Don’t let the “gold is going to collapse” crowd scare you.

    http://schrts.co/2L6MXA

      Aug 09, 2016 09:14 AM

      BTFD!

        Aug 09, 2016 09:21 AM

        Indeed. Buy it. 🙂

          Aug 09, 2016 09:25 AM

          That should have been a sarcastic winky face btw!

            Aug 09, 2016 09:43 AM

            Fine I’ll throw you a bone…… BTFVIX

            Aug 09, 2016 09:49 AM

            😉

            Aug 09, 2016 09:50 AM

            So now you are the bone giver? With or without Viagra?

            Aug 09, 2016 09:50 AM

            😉 !!!!!

            Aug 09, 2016 09:04 AM

            If the VIX pops like it did last year in August, then Viagra will not be required…..

            Aug 09, 2016 09:16 AM

            Right about that. I will be pretty surprised if this year fizzles since there is some seasonality to volatility. Take a look at August 2011 as another great example when it rocketed above 45. Anything similar this year would be one hell of a shock. I am not predicting anything that severe though. But I think we are good to go for a pre-September adjustment……with or without pharma enhancements.

            Aug 09, 2016 09:18 AM

            I’ve started buying back the UVXY position that I sold during the Brexit madness.

            Aug 09, 2016 09:56 AM

            Probably a good idea. I am looking at TVIX again. Maybe the guys will make mention of VIX trades this week and some of the charts.

      DFS
      Aug 09, 2016 09:15 AM

      I have a number of bids in hoping to pick up bargains.
      Time and again they sell at my bid, but won’t give it to me (Because of spread)
      NVDEF, Avnel, several others.

    Aug 09, 2016 09:06 AM

    GDXJ:

    There’s no sell signal here:
    http://schrts.co/KY3zZ7

    Aug 09, 2016 09:32 AM

    In January, James Flanagan at Gann Global stated that he didn’t think that this bull market in the gold and silver miners would be as good as the one that started in 2001. I disagreed then and I still do. Flanagan doesn’t seem to realize that that bull was the least impressive of one of the last 40 years or more in real terms.

    XAU:GOLD monthly:
    http://schrts.co/9O65JZ

      Aug 09, 2016 09:34 AM

      The gold/silver mining bull market of a lifetime has begun…

      http://www.graceland-updates.com/images/stories/16aug/2016aug9xaug1.png

        Aug 09, 2016 09:47 AM

        The miners definitely have some room to run based on that XAU:Gold ratio chart.

          Aug 09, 2016 09:49 AM

          That’s why, despite the large gains in the PM miners for 2016, they are really just closing the first chapter of a multi-year rise, so investors that feel like they’ve missed the boat don’t need to worry at all for the longer term.

            Aug 09, 2016 09:11 AM

            Despite gaining 145% this year, XAU:GOLD is only at its 2008 crash low. The upside from here remains huge and far greater than what we experienced in the run that ended in 2011.

            http://schrts.co/EB1NM6

            Aug 09, 2016 09:47 PM

            Agree…..Ditto

    Aug 09, 2016 09:06 PM

    Long term…has more highs coming. IN A Multi decade high bull market…says Greg Weldon . KITCO

      Aug 09, 2016 09:08 PM

      Might see pull back to 1250 on gold.per GW