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Higher targets for the markets with one potential warning sign

Cory
December 5, 2016

Today with Doc we take a closer look at the US equity markets. As the markets continue to rise investors seem to be more and more confident that this will continue. When we look at the charts as long as there is not a significant drop in January then we expect this upward trend to continue for months. Listen to find out some of the upper targets.

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Discussion
45 Comments
    CFS
    Dec 05, 2016 05:42 AM

    U.S. Journalists and Professors Appearing on RT America Get Blacklisted by US Main Stream Media.
    And so it goes….freedom of speech? Not.

    CFS
    Dec 05, 2016 05:50 AM

    Location, Location, Location….
    http://www.321gold.com/editorials/moriarty/moriarty120516.html
    It matters.

    CFS
    Dec 05, 2016 05:56 AM

    SGE closing prices today:
    Gold $1197.90
    Silver $18,20

      Dec 05, 2016 05:12 PM

      On the positive side – many Silver miners had a great day despite the slump in prices lately. That is an encouraging sign that the miners are out-performing the metals.

      Silver Stocks Symbol % – Chg

      MAYA GOLD MYAGF 25.72%
      DEFIANCE SILVER CORP DNCVF 18.15%
      MAX RESOURCE CORPORATION MXROF 17.87%
      SILVER BEAR RES INC SVBRF 15.63%
      AURCANA CORPORATION AUNFF 12.28%
      MINCO SILVER CORPORATION MISVF 9.27%
      LEVON RES LIMITED LVNVF 7.57%
      OREX MINERALS INCORPORATED ORMNF 7.06%
      SILVER BULL RESOURCES INC SVBL 6.47%
      DOLLY VARDEN SILVER CORPORATION DOLLF 6.10%
      SILVERCREST METALS INC SVCMF 5.27%
      SILVER GRAIL RESOURCES LTD SVGAF 5.20%
      SILVERCORP METALS INC SVMLF 4.10%
      COEUR MINING INC CDE 3.61%
      GOLDEN MINERALS COMPANY AUMN 3.52%
      BEAR CREEK MINING CORPORATION BCEKF 3.48%
      ENDEAVOUR SILVER CORPORATION EXK 3.06%
      SOUTHERN SILVER EXPLORATION CORPORATION SSVFF 3.04%
      AVINO SILVER & GOLD MINES LTD ASM 2.90%
      SILVER STANDARD RESOURCES INC SSRI 2.88%
      SANTACRUZ SILVER MINING LTD SZSMF 2.81%
      TREVALI MINING CORP TREVF 2.51%
      HECLA MINING COMPANY HL 2.20%
      ALEXCO RESOURCE CORPORATION AXU 2.16%
      CANASIL RESOURCES INC CNSUF 1.75%
      METALLIC MINERALS CORPORATION MMNGF 1.14%
      IMPACT SILVER CORPORATION ISVLF 1.11%
      FORTUNA SILVER MINES INC FSM 0.92%
      SILVER WHEATON CORPORATION SLW 0.86%
      PAN AMERICAN SILVER CORPORATION PAAS 0.73%
      MAG SILVER CORPORATION MAG 0.46%
      SILVER RANGE RESOURCES LTD SLRRF 0.43%
      KOOTENAY SILVER INC KOOYF 0.30%

        Dec 05, 2016 05:30 PM

        Yes, even among gold stocks, that divergence has been going on for weeks. Gold made yet another multi-month low today while GDXJ didn’t even manage to take out last Thursday’s low.

        http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=9&dy=13&id=p80928961001&a=490609580

          Dec 05, 2016 05:38 PM

          This is very constructive that we are still just having a correction in the new bull market. If this was a true Bear market then the miners would be selling off much harder than the metals, and that is not what we’ve seen the last few weeks.

          Cheers!

        Dec 06, 2016 06:32 AM

        Excelsior:

        When you post prices of Canadian shares using the US symbol, it may not represent the real price action of the shares as the US symbol is a derivative and far more illiquid than the Canadian symbol. After a big decline, there may be days the US symbols don’t trade at all. i think that if you posted the movement in CAD using the Canadian symbol, it would be more representative of real price action. For example, the US symbol for Defiance shows an 18.15% move in the shares but the Canadian symbol only shows a 10% move higher.

        As a rule, I always trade US stocks on a US exchange and Canadian shares on a Canadian exchange for the best execution. I have found Penntrade in Coeur d’Alene to be the lowest cost and most convenient. They are back in business.

        I love what you do but it could be a tiny bit better.

          Dec 06, 2016 06:26 AM

          I agree. The otc data isn’t good for much and I always go to the most liquid listing for trading and charting. For most of my miners that means trading them on the TSX/TSX-V but for others, like Alexco, Goldcorp, and Pan American Silver, it means trading them on the AMEX, NYSE, or the Nasdaq.

          Dec 06, 2016 06:49 AM

          I completely agree Bob M. about the illiquid OTC stocks having catch up to do on certain days, and thus outsized moves on certain days. My posts are more for the general trend, and for those poor souls stuck trading the OTC markets. At present my trading account has watch-lists I built that I can easily export to excel spreadsheets, and then cut and paste them.

          I’d have to build the lists with primary listings on the Canadian, Australian, and London exchanges manually otherwise, and I’m a bit too lazy.

          My goal is to get everything onto interactive brokers by the first of the year. Right now I just post the tickers I trade, but I agree it could be better. Working towards that goal. Cheers!

            Dec 06, 2016 06:58 AM

            I’d also add that at times very interesting arbitrage trades set up in the OTC for just the reasons discussed where a move has happened on the primary ticker but isn’t teflected yet in the OTC yet. The only challenge is liquidity and out of wack bid/ ask spreads sometimes.

            Dec 06, 2016 06:02 AM

            Until early 2011, I used to have many duplicate positions in the otc market for exactly that reason.

            Dec 06, 2016 06:46 AM

            There’s a trader I like Jay Fi Fighter that sometimes runs parallel tickers on the primary and OTC for the same reasons. Sharp dude. I’ll post his portfolio as it is public info:

            Notice that in the 2nd table “My Actual Portfolio” You’ll see a few double holdings for Critical Elements, eCobaltSolutions, and Goldquest mining….

            http://www.fifighter.com/stocks/portfolio/

    Dec 05, 2016 05:04 PM

    Us$ down big…-1.22……..

    Dec 05, 2016 05:24 PM

    Bill HOLTER on Dr Dave Janda…..said..”Gold in India,was selling for $3000USD on Friday.”

    Dec 05, 2016 05:30 PM

    I’m tell’n ya Bitcoin is where it’s at right now. I own physical gold and silver, paper miners, and paper silver. Bitcoin is gonna be my $ maker this year.

    Dec 05, 2016 05:45 PM

    Off topic:

    Secession Is for Morons, Says Ben Stein (the ridiculous shill)

    https://www.youtube.com/watch?v=wR6baUcfZ_A

    Dec 05, 2016 05:26 PM

    Doc,
    I think you’re right about these markets. Sideways up and down until sometime in January looks like the deal. However, the cycle is way long in the tooth, and the free money-debt bunnies/debt bubble deniers, are gonna take a ..cold…shower…!

    I wouldn’t be in the top 500 stocks for squat didly.

    A six month run upward makes zero sense. ( not hapnin )

    Dec 05, 2016 05:47 PM

    Beware – all these “technical guys” are (in the end) trend followers. They portend to have a secret “sauce” which supports a special insight, however, at the end of the day they are simply trend followers. So when markets are moving higher, you will hear – “the markets are poised to move higher, except for one possible issue. So if the market turns – they simply point to that one little issue. Pure nonsense!

      Dec 05, 2016 05:13 PM

      Technical divergences and strength/momentum indicators, along with price action, can indicate that a turn is coming and we probably have a turn happening right now — at least short term. The pieces will have to fall into place on the weekly chart and I believe they will do just that very well.

      Dec 05, 2016 05:13 PM

      I gotta say i agree David… to an extent.

    Dec 05, 2016 05:53 PM

    Ok here we go again…

    Ben Stein is a “ridiculous shill” because you don’t agree with his position.

    More personal attacks.

    I’m the first one to defend states rights, but that doesn’t mean I would welcome secession without a very long serious soul search.

    Calling him a ridiculous shill doesn’t serve any good purpose.

      Dec 05, 2016 05:07 PM

      NO he’s a ridiculous shill because that’s what he clearly is. Unlike you, he knows exactly what he is doing. Most people (that’s you if you’re lucky) don’t detect shills like him because most people are products of the establishment that he is shilling for and aren’t interested in thinking.

      Dec 05, 2016 05:24 PM

      And it serves a very good purpose to call him a shill. This is the guy that was pumping the hell out of the big banks as they were collapsing. He called them bargains and the chance of a lifetime when they were still $30-$70 away from the big zero that they were heading for.
      If you had a clue about your own country’s history, you’d see why he’s shill re my earlier post, too. So my advice to you is this: get a clue.

      https://youtu.be/zz_yw0kq3MM?t=239

    Dec 05, 2016 05:06 PM

    David, bingo.

    You know it and so do I.

    Of course some people will attack you if you start calling them out so be careful!

      GH
      Dec 06, 2016 06:06 AM

      Reasoned argument is welcome. Spanky could teach you how it’s done.

      Your m.o. is very different. Crowing the same opinion over and over. Disinterested in making or hearing logical arguments based on evidence. Acting like you have far more insight into the markets than it is clear that you really have. Throwing insults left and right (XXX must go!). What a surprise you get attacked.

      Troll.

    Dec 05, 2016 05:11 PM

    The whole stock market is a “debt swap”, plain and simple!

      Dec 06, 2016 06:30 AM

      Can you embelish please? Ie explain and what are the impacts? I’m interested to hear your thoughts. Thanks

        Dec 06, 2016 06:49 AM

        Sure, Nick. I guess a fifty thousand foot flyover is ok.

        In 2009 when the Dow hit 6,500 the Bernank announced he would save us with QE. So, he propped up the markets with trillions of dollars (our dollars) buying stock of the big corporations. The ZIRP works great if you have the right DNA…
        So now we’ve seen trillions of dollars in the form of buybacks. This money rotating in the markets, which has kept them propped up. So, the corporations are buying back the QE money they where given. You can tell its game over because the f’ed is about to raise rates.
        So, the owners of the fed used the people’s money to prop up the corporations that they also own to get rid of any pesky competition and making those whores in congress rich. Actually I’m wrong about congress. A whore offers value for a service ( so they say ).

        Funny how the bond, commodity, and other markets tank to make people stay in the general stock market, eh?!

          Dec 06, 2016 06:59 AM

          I guess they like taking the people’s money and using it to take more of the people’s money. And the ghost of Thomas Jefferson says, I told ya this shit was gonna happen..😉

    Dec 05, 2016 05:26 PM

    Whatcshowing me Matthew, a video of Peter Schiff getting the only thing he ever got right?

    You had to be comatose not to know housing was a bubble and subprime wasnt contained.

    He WAS WRONG BIG TIME ON THE $
    He WAS WRONG BIG TIME ON GOLD
    HE WAS WRONG BIG TIME ON US STOCKS

    Dec 05, 2016 05:41 PM
      Dec 05, 2016 05:08 PM

      Alzheimer’s James? Ben Stein was the subject and you are still this swamp’s pollywog.

    Dec 05, 2016 05:15 PM

    Ben Stein being a subject of any meaningful discussion is hilarious.

      Dec 05, 2016 05:42 PM

      Who said anything about meaningful? I’m dealing with James the lesser here!

    Dec 05, 2016 05:15 PM

    Chartster, do you see how things can devolve discussing anything with Matthew…

    He digs up you tube videos on Ben Stein.

    The title of the article was “Apologize to Peter Schiff”

    That’s why I referenced Peter Schiff. He should be apologizing to all the people who lost money following his crack pot ideas.

    Beuller. Beuller. Beuller.

    Matthew. Matthew. Matthew.

      Dec 05, 2016 05:26 PM

      You went on a tangent James. Stein was the subject and the real crackpot is the amateur who’s been giving gold an “F” for years but refuses to sell it. What a joke.

    tom
    Dec 05, 2016 05:21 PM

    CCI looks good. Nice dividend.