Is the Dow ready to move higher for the rest of the year?
A recent stat caught my eye this morning so I wanted to hear what Doc had to say. The stat shows that over the past 120 years when the Dow falls in October the average gain from the lowest level in October vs the close through December 31st, is 6.8%. Doc addresses this as well as the lack of news stories and fundamental factors to drive the precious metals markets higher in that time.
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We are devoting the entire second hour of the upcoming weekend Show as a preview to our new one hour political who which will air shortly. The second hour will be devoted entirely to Dr. Paul and Mr. McAdams. Should be a lot of fun!
Paul Ryan Blasts FBI: “Mishandling Bears All The Signs Of A Cover-Up”
Yesterday we noted a potential “quid pro quo” arrangement between the FBI and State Department whereby Patrick Kennedy, a senior executive at the State Department, offered “additional slots for the FBI at missions overseas” in return of “altering the classification” of certain Hillary Clinton emails (see “Lawmakers Find “Quid Pro Quo” Between FBI And State Over Altered ‘Classified’ Clinton Emails”). Now, House Speaker Paul Ryan released the following statement saying that efforts of the State Department to pressure the FBI “bears all the signs of a cover-up” which, he says, is exactly why he called on the Director of National Intelligence to deny Hillary access to classified information.
WASHINGTON—House Speaker Paul Ryan (R-WI) today responded to new documents released under a Freedom of Information Act request related to the FBI investigation of former Secretary of State Hillary Clinton’s private email server:
http://www.zerohedge.com/news/2016-10-17/paul-ryan-blasts-fbi-mishandling-bears-all-signs-cover
I will be very interested to see Ryan’s response.
I will go out on a limb and suggest that we know just how really strong the Clinton Family has become. I would guess that Ryan’s response will be more ineffective bluster!
Big Al, It’s getting to the point where there is overwhelming evidence. He cannot turn a blind eye without voters bailing on him. MSM and the dems are throwing the kitchen sink at Trump. If he had of been a politician, it may have been different. Congress with an 11% approval rating doesn’t get much traction.
Hillary’s Server Hacked After All? FBI Docs Reveal A Confidential File Was Found On A Romanian Server
The latest document release by the FBI, which contains a further 100 pages of “302s” or summaries from interviews conducted with various parties close to Hillary’s private server, reveals a troubling fact: according to an interview conducted on June 6, 2016 with an unnamed employee working for a US defense contractor specializing in the areas of “missile, space and intelligence”, classified documents linked to Hillary Clinton’s private server were discovered in Romanian during a broader search for confirmation whether Clinton’s private server had been breached from the outside.
http://etfdailynews.com/2016/10/17/dont-underestimate-indias-appetite-for-gold/
The SGE is hanging right in about $1260 for gold and above $18 for silver, and we are just coming up to seasonal buying.
So, we will see just what happens. Any thoughts on that?
Paul Ryan is a punk and a weasle.
Nice dw jones. Classic Base Metals education from the Simpsons. Well done sir.
I think it is a big mistake to think that the mining stocks will do what they did in 2014 or 2015 for the rest of the year. In those years, all the mining stocks were down on the year and sitting on huge losses. It is a completely different situation for 2016. The mining stocks are almost all up, even with their recent corrections. I don’t think you are going to see much tax loss selling. If anything the funds will buy to show they have these stocks in their customer’s portfolio.
Paul W. – I agree with you that with so many miners still up for the year, there won’t be nearly as much tax LOSS selling as the prior 4 years of the bear market, since there weren’t many losses.
I could also see some funds buying a bit before year end to show that they had some exposure to the metals and miners, but I wouldn’t expect that trend to become more prevalent until the next few years when metals surprise the main-stream media talking heads by heading even higher. Then the funds will scramble to into positions. When the sectors that outperformed are noted they’ll have filed into position at much higher prices (fueling the move) so they can say “we were part of the movement too!”.
Another point….I think too much emphasis is being placed on the FED and the rate hike. This is a narrow, US-centric view. Gold has been hit hard by lack of India buying. For the first time in a long time, gold in India is now at a premium. They had some good crops this year and buying in India may be finally picking up. China Yuan has also been very weak lately. This may spur even more gold buying.
http://piercepoints.com/mining-investment-exploration-gold-india-price-premium-buying/
Indian gold buying season is expected to be higher than normal. Possible catalyst. Short covering may be a catalyst. Geopolitical events may be a catalyst. Not to mention a black swan type of event.
Off topic:
https://www.spreaker.com/user/radiosputnik/russia-bashing-becomes-americas-new-nati_1?utm_medium=widget&utm_source=user%3A8544886&utm_term=episode_title
FromRon Paul Institude.