Weekly Market Close for Friday, October 14, 2016
Click download link to listen on this device: Download Show
U.S. dollar closes the week up while the U.S. markets are down for the week, but up for the day.
My eyesight! Wee
My eyesight! wee should be see
That fat finger stuck again.
When gold goes up you go buy new phone. mine like yours with cracked screen. one day you make some money cfs and no more fat fingerr.
On the futures market, with cash silver dropping 6 cents today, July 17s and Dec 17s bucked the trend and went up in price. (I have not the foggiest idea why….probably low volume and random buyer behavior). Other futures behaved as might be expected.
Using US Data for gold:
Price Support Pivot Point Resistance
1,250.51 1,247.32 1,257.00 1,266.68
Made a whole 4.68 net on DUST today. Riding XIV & DWTI over the weekend.
36 pages on the macro picture, and then many of the Jr Miners are reviewed. Very dense, but very informative for those that may like a little weekend reading. Cheers!
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The Weekly Dig – October 14, 2016
Haywood Securities – Mick Carew, PhD
http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1c02j84-MMOct142016_CEO_secured.pdf
I thought it would be appropriate to combine the VXX:XIV as a determinant in the volatility trade for comparison purposes:
Doc you said 2000-2012…did you mean $1200 -1212 in gold price?…or were you talking about sp500 …mid way through the interview
Proud, thanks for the correction—it was in reference to gold.
Mr. Big Al Korelin demoted?
Demoted? No. Enjoying semi-retirement, having passed on knowledge to a younger generation.
Klondike Gold completes drilling at Lone Star
2016-10-14 09:31 ET – News Release
Mr. Peter Tallman reports
KLONDIKE GOLD UPDATE: DRILLING COMPLETED AT LONE STAR, ASSAYS PENDING
Klondike Gold Corp. has completed drilling at the Lone Star target and has provided a drilling update at the company’s Klondike project located near Dawson City, Yukon.
The 71st drill hole of the 2016 Klondike project exploration campaign and the 23rd hole of the third and last phase of 2016 exploration, is complete. Geological, geotechnical and sampling work will continue until approximately end of October. Assay results from the first holes of the third phase program are anticipated to be received from the lab around Nov. 1, 2016, and the assays from samples of completed holes yet to be processed are projected to be received in December.
CFS – Agreed with your first sentence – Big Al should enjoy semi-retirement and the new grandchildren in the family.
Big Al has done a great job passing on the knowledge to a younger generation and I’m so thankful to have heard commentary for years. I started listening in 2011 but started posting in 2012 and have missed very few days of at least listening since finding this site.
Cory is doing a great job on interviewing the number of top-notch guests and has developed some great technical analysis skills to compliment the fundamental and macro economic commentary.
As always – well done guys.
OFF TOPIC:
Jessica Leeds, the feminist who accused Trump of attacking her on a plane, clearly has no mirrors in her home. She accuses him one year after he had just married a good-looking Icanka, having models in his life, has Ms Leeds ever looked at herself? I cannot imagine anyone ever molesting he Really!
And now a fellow passenger on the plane negates her.
http://nypost.com/2016/10/14/trump-camp-puts-forward-witness-to-refute-sex-assault-claim/?utm_campaign=SocialFlow&utm_source=NYPTwitter&utm_medium=SocialFlow&sr_share=twitter
My eyesight again!
Ivanka not Icanka
I see now your iPad is replacing “My iPad” with “My eyesight”!!!!! 🙁
He has no money to buy new phone. But government gives eye glassses free.
“he Really” was my iPad Incorrecting “her. Really!?”
Dang, usawatchdog.com sight down.
Fatal error: Call to undefined function mts_meta() in /home/usadog/public_html/wp-content/themes/usawatchdog2/header.php on line 7
Someone hunting Greg Hunter?
sight
Dang iPad!
CFS, you can still get to his youtube site so you can see this week’s WNW.
Thanks, that YouTube USAWatchdog is a blast today.
He shoots down all the MSM.
I do not want to see gold close a week below the 89 week MA (currently 1203).
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=6&mn=5&dy=0&id=p25999149377&a=480942586
That coincides with the 50% Fib arc support based on the move up from the December low.
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=4&mn=7&dy=0&id=p49230382083&a=369192745
Agreed. The first support I don’t want to see gold break is the $1216.50 (Rick Ackerman’s mid-point pivot). Next $1210 is roughly the 50% retracement of the recent leg up, and $1207 was the pre-Brexit low. $1203 at the 89 week MA would be the last line in the sand before the round $1200 level is taken out, which would do considerable technical damage and thow a wet blanket on sentiment in the sector.
On the daily chart, gold is struggling to take back the 200 dMA.
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=2&dy=0&id=p73891160370&a=443006542
GDM (Gold Miners Index):
http://stockcharts.com/h-sc/ui?s=%24GDM&p=W&yr=4&mn=7&dy=0&id=p27616751382&a=412121831
The loonie had a decent week:
http://stockcharts.com/h-sc/ui?s=%24CAD&p=W&yr=5&mn=7&dy=7&id=p59484423399&a=426052108
OFF TOPIC
HRC has repeatedly vilified Trump’s tax proposals.
So I got to thinking.
Can anyone nane a country, any country, anytime in history, that has improved its economy by increasing taxation?
(I’m talking about taxation rates. Of course, the amount collected can increase in a booming economy.)
How can theft ever improve an economy?
Exactly, and Pence let that Kaine dirtball get away with pinning the recession on Bush’s tax cuts. The masses prove everyday that ignorance is the root of evil.
Btw, not a Bush fan – he’s not the point here.
If interest rates go negative, then presumably you don’t have to pay any taxes on the debt, because the bankers pay the government.
Commodities look good (GNX):
http://stockcharts.com/h-sc/ui?s=%24GNX&p=W&yr=2&mn=5&dy=0&id=p54216102478&a=422940314
OFF TOPIC:
You know there are Russian subs off the US coast.
Want to guess where their only aircraft carrier is?
http://www.telegraph.co.uk/news/2016/10/14/russian-aircraft-carrier-expected-in-english-channel/
The Brits should think again about annoying Moscow!
Dangerous Crossroads: Britain’s Royal Air Force Pilots Ordered To Shoot Down “Hostile” Russian Jets Over Syria
OFF TOPIC:
Insanity…..The Bush-Clinton_Obama Oligarchy
http://www.nbcnews.com/news/us-news/cia-prepping-possible-cyber-strike-against-russia-n666636
Brought to you by the Devil Incarnate: Budget deficit jumps 34%
http://www.mcclatchydc.com/news/politics-government/national-politics/article108285582.html
Inspite of the fact that the gummyment plundered $3.27 trillion dollars from the tax serfs…
http://freebeacon.com/issues/government-collects-3-27-trillion-taxes-fiscal-year-2016/
If MSM distortions aren’t enough to win the election, there’s a back-up plan:
http://thefederalist.com/2016/10/13/voter-fraud-real-heres-proof/
I don’t know why everyone is so doom and gloom on gold. As far as I am concerned, it is doing great. The USD is rising a great deal the last week and gold is keeping up with it. In 4 of the last 5 days, gold is up in foreign currencies.
So in light of the above, here is a scenario worth pondering. I think all gold has to do is stay level with USD for the next few months. The USD index is currently at 98. Let us say that the USDX ends up at 100. The last time this happened, exports fell and it killed emerging markets who have debt in USD. The FED knows this. The large multi-nationals get killed, and then they do something to get the USD back down again. Possibly QE for the people. This then drive the USD back down and then gold explodes higher.
So in conclusion, it is my belief that gold staying level or keeping up with such a strongly rising USD is nothing to be discouraged about. It is actually very bullish for gold. I think I will be wrong if 98 or 100 on the USD index is OK for the world economy and won’t effect money flows or corporate profits in a negative way. I don’t think I am wrong.
I don’t know either, Paul, but I’m glad they are. I guess it shouldn’t be a big surprise after the worst bear market in decades but that kind of sentiment (doubt/fear) is just what a bull market needs to stay healthy.
So true. The Bullish Gold Miners Percentage is now at the extremes of last January. I remember everyone being bearish then as well.
Doc & Cory,
You both are spot on, IMO.
IT’S OVER: Hillary’s LEAKED ISIS Email Is Worse Than Anyone Could Have Imagined…
“the governments of Qatar and Saudi Arabia, which are providing clandestine financial and logistic support to ISIL…” Clinton wrote
from Friends of Syria:
Wikileaks released what is, by far, the most devastating leak of the entire campaign. This makes Trump’s dirty talk video looks like an episode of Barney and Friends.
Even though when Trump called Hillary the ‘founder’ of ISIS he was telling the truth and 100% accurate, the media has never stopped ripping him apart over it.
Today the media is forced to eat their hats because the newest batch of leaked emails show Hillary, in her own words, admitting to doing just that, funding and running ISIS.
Read More
Dont know if the links work, I found this on “sgtreport”
Wikileaks released what is, by far, the most devastating leak of the entire campaign.
Irrelevant. The lamestream media will not cover it. The Amerikan sheeple are oblivious to it and instead when Hillary speaks they baa with alacrity.
The sad thing is that the mainstream media media will ignore all the bad things HRC has done, all the lies she says, and only report bad things about Trump.
The media controls the ignorant sheep lie and through them the country.
My darned iPad is liberal! It incorrected sheeple into sheep lie.
What should I expect, from a company headquartered in California’s?
Media spin goes both ways. If you read the article, she is actually complaining about the Saudi’s funding ISIS. Nowhere does it say she is funding or running them. Having said that, I am not defending Hilarity…she has a lot to answer for. Namely why is she getting so much money from the Saudis? Doesn’t that just scream conflict of interest? And why did she not do anything about the Saudi’s? Oh never mind, I forgot. Money talks as principles walk. How silly of me. Let’s talk about Kim Kardashians butt instead.
Sd weekly market wrap:
http://content.blubrry.com/silverdoctors/SD_Wrap_10-14-16.m4a
Copper fell precisely to a Schiff fork support today:
http://stockcharts.com/h-sc/ui?s=%24COPPER&p=D&yr=0&mn=9&dy=22&id=p77878302754&a=451232211
The HUI priced in gold found support at the 89 week EMA for the second week:
http://stockcharts.com/h-sc/ui?s=%24HUI%3A%24GOLD&p=W&yr=5&mn=3&dy=0&id=p32838723134
I have stated this before, but I believe it needs repeating.
I think you guys should do technical analysis on SGE gold and silver prices.
Again gold held above $1260 and silver above $18.
I don’t monitor gold as closely as silver, but believe $1250 I strong resistance on the SGE.
And as unbelievable as this may seem to be, I wee volume come in very strongly every time silver approaches$18 on the SGE, in RMB equivalent. So it is going to take extreme news to penetrate $18. (Despite dollar strength, which I believe is only temporary)