Gold moving up nicely and the stocks are flying!
To wrap up the markets today I am joined by Doc. We focus on the precious metals and more specifically the stocks that are really moving today. The technicals have taken a turn up and we could see this move continue throughout this month.
Click download link to listen on this device: Download Show
Is the KKK extremist christianity?
Those Odens warrior people might be considered extremist christianity too.
Not that I like any religion but just maybe its the extremists that people need be concerned with more than the religion.
hmmm, I guess that might be debatable.
I am not a Christian, but do you realize how moronic it sounds to compare a lunatic fringe KKK with a major religion that outnumbers the total number of Christians in the world?
Of course not all Muslims follow Islamic teachings fanatically, but which is the larger faction? Tolerant, passive muslims or intolerant active muslims?
Is The Trump Administration Already Over? — Paul Craig Roberts
by Paul Craig Roberts, Paul Craig Roberts
All known Muslim terrorists are creations of the US government. Al Qaeda was created by the Carter administration in order to confront the Soviet occupation of Afghanistan with jihadism. ISIS was created by the Obama/Hillary regime in order to overthrow Gaddafi in Libya and then was sent by the Obama/Hillary regime to overthrow Assad in Syria,
Just a paragraph of the article
And to get the numbers of christians and muslems in perspective
“As of 2010, Christianity was by far the world’s largest religion, with an estimated 2.2 billion adherents, nearly a third (31 percent) of all 6.9 billion people on Earth,” the Pew report says. “Islam was second, with 1.6 billion adherents, or 23 percent of the global population.”Apr 2, 2015
And besides, when ya die for allah the virgins ya get have never been touched by man or gini.
How can ya get a better deal than that?
I don’t believe in Christian churches anywhere they teach burning witches, or slashing the throats of non-believers.
Can anyone say that is true of Islam in this day and age?
The central problem with Islam is the fact that Mohammed, the founder, was a very bad guy. If he lived today, he would be considered a violent criminal for sending assassins to people who made fun of his claims, for beheading prisoners, for raping female captives, for selling children into slavery, etc. etc. You name a capital crime. Mohammed has committed it. He was that bad.
Jay – I’m not usually one to play the man instead of playing the ball…but the opinion that you just expressed is one of an imbecile
Nick, you are very ignorant about Mohammed. Read Ibn Warraq’s book, “Why I am Not a Muslim.” Listen to Jay.
Really? Tell me what you know about Mohammed.
There are estimated to have been 137,000 FGM’s in the UK in the past 15 years BUT BUT BUT not one person has been arrested… not one person interviewed by the Police…. and not one person brought to trial.
Shocking how politicial correctness is rotting our country.
CFS:
When a Zionist judge found that the IDM committed 34 different war crimes in the Gaza massacre of 2014 would that qualify Zionism as being the religion of peace or do you only count Muslims as evil?
By the way, you never answered my question about the fake news from Israel on the fiction of an Iranian nuclear weapons program that we both know doesn’t exist. Do you just ignore the inconvenient questions that show that there are two sides to the issue.
Are Zionist extremists any different in substance than Muslim extremists?
WOW!! I am just speechless.
I let your anti-Jew hatred stand alone.
I hope the war-criminals in Gaza were punished.
CFS:
That’s ok I will respond to your Anti-Muslim hatred. You act like hating Muslims is just wonderful.
What do you suggest we do to them? Throw them into concentration camps like the West Bank and Gaza or should we gas them?
Please don’t confuse my protest of a “religion” and some of its teachings and practice, with a hate of people.
CFS:
There is no confusion. You are a Muslim Hater.
Mr Moriarty as I did say the other day,I don’t believe a religion that calls for an eye-for-an-eye is a religion of peace.
CFS:
Wow! Have you forgotten that “an eye for an eye” came from Exodus and it’s a tenant of both Judism and Christianity?
Not that I disagree with you this time. Throughout history the worst crimes have been committed in the name of religion.
Only the uneducated think it is a true eye for an eye. There has NEVER been an eye taken out in any jewish court in history . . it is the VALUE of an eye when is taken from one who takes out someone else’s eye.
AS they say, a little knowledge is a dangerous thing.
Mr. Moriarity,
I think you meant tenet not tenant.
“Wow! Have you forgotten that “an eye for an eye” came from Exodus and it’s a tenant of both Judism and Christianity?”
A commonly used defence of islam and bashing of christianity. However.. this practice is NO LONGER practiced and was abolished how many years ago? Since the days of Christ. You need to learn the difference between the new testament and the old testament. Why is this relevant? Your bringing up practices that havnt been used and are no longer even remotely valid whereas common practice like throwing gays off a building for the sin of being gay ARE practiced in ISLAM and ARE CURRENT commandments. Sharia law is the threat not useless not even applicable crap old testament stuff no one follows and has not been a commandment for more years than you can even count. Let me help you out with an example.. Eye for an Eye was REPLACED in the New Testament with “Turn the other cheek”. So this is bad how? This is not a good teaching for society? Sharia law is better?
Avi:
How about kidneys? If the Zionists harvest kidneys, is there such a thing as a kidney for a kidney? And don’t even tell me they didn’t.
I am simply floored at the ignorance I am reading here.
Avi:
Very true and those who don’t understand what “an eye for an eye” really means don’t understand that justice has to be in proportion. An eye for an eye is a maximum penalty, not a minimum. CFS confuses it with Islam and it has nothing to do with Islam. It came from the old testament. And it did not call for judges to pluck out eyes. It called for judges to be reasonable.
For example, bombing Gaza for weeks in response to a so-called “rocket attack” instead of the bottle rockets they really fired would be not in proportion with an attack from a country with all the power of the most powerful army in the mIddle east would be excessive and both illegal according to the Geneva convention and wrong morally.
For a policeman in the US to shoot someone because he had a busted taillight would be excessive and not in accordance with “an eye for an eye.” Justice and warfare has to be proportionate.
bottle rockets???? Bob . .. I am not sure where you get your information, but you really are sooooo off base.
Avi:
I got my military experience from two years in combat against a brave enemy who shot back. How about you?
Does not make you any less ignorant Bob.
Wake up, Robert. When a country keep shouting Death to America, you gotta pay some attention, man. When they say they are going to wipe out Israel, you gotta ponder a bit. Hmmm…. what could they mean???
Jay Linn:
When a country keeps shouting Death to the Arabs, do you need to pay attention? You guys keep pretending this is a one sided issue and it’s not.
I’m actually shocked at the irrational hatred of Islam displayed by a lot of people on this board. I’m not defending the fringe Muslims but you are defending the fringe Christians and fringe Jews. There was peace in the Middle East for 500 years when Europe was in a constant state of warfare. The US and Israel have totally disrupted the Middle East in the last 70 years and everyone wants to blame the Muslims and ignore the actions of the US which started 82% of all the wars in the world since 1945 and Israel who has been clamoring to overthrow Syria for 35 years.
There are refugees from Iraq, Syria, Libya, Sudan, Somalia, Pakistan and Afghanistan but we created them. And no, I don’t want them in the US or even Europe but you can’t keep creating refugees and not accept that your actions are a giant part of the problem.
We have to stop fighting wars for Israel. It’s going to destroy both Israel and the US if it doesn’t directly lead to WW III.
Bob, I respect you as a veteran and a combat hero. But who is shouting death to Arab? Nobody. I mean seriously. Israelis are not shouting death to Arab! There are things wrong with Israel. But from my standpoint, they are just trying to survive in a very tough neighborhood. But guess what? Iranians are out there daily shouting Death to America and Death to Israel and their religious leaders are encouraging such hatred. We gotta pay attention!
https://www.buzzfeed.com/jerusalemcenter/sworn-to-destruction-20-threats-iranian-leaders-m-hys5
I am not a Jew, and I do not read many Jewish publications.
Maybe, it is scare tactics of the Israeli Press.
I have never visited Iran, but I have been staying in a Israeli hotel and been woken by Palestinian rockets being randomly fired in.
https://www.buzzfeed.com/jerusalemcenter/sworn-to-destruction-20-threats-iranian-leaders-m-hys5
Jay Linn:
If you can’t see things around you it could be because your head is stuck somewhere dark. If you use google, all you have to do it plug in “death to the Arabs” but since you have an irrational hatred of Muslims, perhaps you will trust a Jewish newspaper.
LOL. My hatred is restricted to this dumb religion of Islam. Most muslims are ok. Many are quite ethical. I had several Iranian friends during my grad school days.
Jay Linn:
And given that the CIA over turned their democratically elected government in 1953 and foisted the Shah on them with his secret police and Israel has been in a state of war with them for 20 years, I wouldn’t surprise me if the Iranians greatly fear the US and Israel but they are not shouting Death to America and Death to Israel daily. They are going about their lives hoping to not get nuked.
And while I was not a hero, after all I wasn’t fighting enemies of the US, I do happen to understand military aviation and all its limits. Iran is a very big country and not a pushover like Iraq or Syria or Libya. Any attack on Iran by either Israel or the US would by necessity have to go nuclear.
The idiocy of the US and Israel threatening a nuclear war on Iran to eliminate a “nuclear weapons” program that doesn’t exist is beyond criminal. To advocate war crimes is to be a war criminal and I hope all the bastards behind such an attack would be given a fair trial for war crimes.
Iran is not the enemy of the US and never has been. The US and Israel on the other hand have been the enemy of Iran and there is a difference. Iran would be our best ally in the Middle East and a major trading partner if we just stopped being so stupid.
There is a thriving Jewish community in Tehran and they refuse to move to Israel because Iran has been their home for a thousand years. Iran does not hate Israel and never threatened to wipe them off the earth.
Iran has never threated to wipe out Israel? WOW!!! This must be in some alternative universe . . . but, back I reality, it is hard to understand how someone can have their head buried this far . . . or maybe simply just delusional.
Honestly, I think the issue revolves around “forcing one’s opinions upon others” so far as I read these comments.
It doesn’t matter whether it is Islam, Judaism, Christianity or some leftist ideology (as evidenced by the violence at the Berkeley University campus recently.
I think we can have a rational, honest, and calm discussion of beliefs along with any evidence that supports our positions, with those who are open to discussion.
It seems that no one is open to discussion anymore, though.
“YOU MUST AGREE WITH ME BECAUSE I AM RIGHT!” … this seems to be the leading argument of anyone pursuing a discussion (well, “discussion” is hardly how I would characterize it … but, you get my meaning).
Anyway, as far as I am concerned, you may all believe what you will … I am not here to tell you anything (especially not something that you don’t want to hear).
Should you be interested, I’ll gladly share what I think (and believe) … along with why.
But, I’ll try not to be in your face about it (hopefully) and ask you to call me out on it should you ever see otherwise in anything that I post.
Was Iran better off under CIA backed Shah or under the current crazed mullah dictatorship?? Are Iranians freer now? More human rights now? You gotta give our CIA some credit!
Look at today’s Turkey turning to oppressive dictatorship of Erdogan due to this dumb religion of Islam!
Iran has never said they wanted to destroy Israel, people sure like to jump to conclusions.
They did say they would like to eliminate the Zionists.
As usual, propoganda twists things.
“Death to….” is common, if a person gets caught in a traffic jam he might say
“death to traffic”
Death to america doesnt mean what people keep insinuating.
Might I remind people, the dominant christian churches (not just catholic) were murdering,torturing and raping children in residential schools, all christian government sanctioned, right up until 1986.
The argument things have changed from the old testament doesnt wash.
Maybe Jesus was a lousy teacher.
Hmmm… Interesting…
It’s also home to the largest Jewish population in the Middle East outside of Israel and Turkey. Iran’s Jewish population topped 100,000 in the years before the Shah of Iran was toppled in 1979 by the country’s Shiite Muslim clerics. Today, the number of Jews has dipped to below 9,000. Feb 19, 2015
90% decrease in population is not exactly ‘thriving’. Most populations GROW in 40 years….
This is like asking how may Hindus remain in Pakistan? Or how many Buddhists in Afghanistan?? LOL
Your “Jewish newspaper is interesting. I know nothing of the incident reported therein, but….
Quoting the newspaper:
“Several violent incidents targeting Arabs were reported in Jerusalem on Saturday night in the wake of a terror attack that killed two ultra-Orthodox Jews and wounded two others in the capital.”
Am I crazy, but I see reported NOT ARABS KILLED, but two ultra-Orthodox Jews as those that were killed.
I do not see Jews randomly killing Arabs.
Avi:
Yes, Iran never threatened to wipe out Israel and you know it. They did however promise to defend their country. Iran is not the aggressor in the Middle East, Israel is. But you know that, you just want to see how stupid the rest of us are.
Bob, some of the posts I read here show me just how stupid people are.
I would much rather be taken hostage my Zionists than by muslim terrorists.
Doc, I thought the metals are going no where anytime soon? 🙂
Metal purchasing is less and less controlled by the US.
It does worry me slightly that Asian demand appears to be dropping off though.
Like I said yesterday…
On February 5, 2017 at 9:33 am,
Matthew says:
GDXJ is up 43% since mid December and 23% year-to-date. To some, that qualifies as “taking off” and if there isn’t much of a pullback soon, it will be hard to argue with that.
Dips should definitely be bought but there just might be a mini melt-up before we see much of one.
My new Primero position is off to a good start:
http://stockcharts.com/h-sc/ui?s=PPP&p=D&yr=0&mn=5&dy=0&id=p74031770132&a=503312006
I agree —–that’s the stock I was referring to. The BBs were just asking you to purchase it.
Thanks, Matthew, as I bought PPP last week at .746 after you mentioned it.
Good job, that’s a couple cents better than my average price!
Matthew, fine call!
Silver Bear anyone? SVBRF
Well, Avi, if you look at the monthly charts this move by the PMs is not even close to breaking out over the high last summer. We’ll see when we break out that high. This is just a “blip” on the monthly chart.
I believe your post was in response to my expectation for a move through 17.85 in silver to the august highs . . . so . . .
Doc, Avi – don’t have a row. It is my bedtime here in the UK and I won’t sleep if I suspect that the two of you are fighting. 🙂
You both offer wonderful and valuable insights on here which, combined, helps an awful lot of us mere mortals and, at the end of the day, you are both on the same wavelength when it comes to this being a good time to accquire PM stocks.
Now, I need to go and sleep as I have to be up in a few hours to decide whether I am going to buy some London listed silver miners likes Fresinillo, Hochschild Mining, SOLGOLD and Highland Gold when London opens or just wait to buy into some more of those rampant US listed miners.
I will not be happy if I wake up to discover that the two of you have been fighting 🙂
(Yes, I have opened a bottle of beer tonight.).
lol don’t worry about me. I was just a bit surprised to see Doc posting that he did not expect it to go anywhere when I said in the interview there is a set up to take it up REALLY fast. He can certainly disagree with me, and he could be right at the end of it . . . silver takes out 17.85 . . and its gone.
Haha that’s what made me sell last week prematurely only to buy it back higher!
CFS, maybe re read the christian books, and the jewish ones, dont forget the talmud.
There are psychopathic “wackos” and pedophiles in all of ’em
An interesting idea, if all the religous and science books were destroyed, the religous ones wouldnt come back as people forgot about them, but all the science info would.
There are thousands of gods worshiped, a christian believes in one, all others in his opinion dont exist.
an atheist simply disbelieves in one more god than a christian.
Having a pop at Christianity, Judaism or any other religion is missing the fundamental point about Islam. You are just doing some virtue signalling to sound clever on the internet.
All the religious books have awful things in them because they were written thousands of years ago in different times. But the Sikhs, Christians, Jews, etc, are not going around today mass raping and mass murdering people in the name of their holy books. The followers of Islam are and they are doing it in vast numbers. Vast numbers of muslims believe the Koran is their law and that they must obey it – even if that means rape, the murder of gay people, treating women like animals, etc.
What you have done b, with all due respect, is make an excuse for the Nazis by pointing and shouting “Look at the Communists over there!”. It is a dangerous thing that you are doing because the real enemy right here, right now, needs to be acknowledged and addressed because it is despicable.
I never imagined that I would see, in my lifetime, civilisation heading so blindly back towards a darkness and those who speak out against it being labelled as racists. But then, as we all know, they ridiculed Churchill in the 1930’s when he warned of the growing danger of the Nazis.
I am having a go at you b but not for personal reasons. We need to shake ourselves out of glib statements and one upmanship by doing some virtue signalling online and feeling smug about it. Islam is a wicked, wicked evil that brings rape, mutilation, slavery and death wherever it spreads.
Our ancestors spent a 1,000 years fighting to stop it, and often failing, conquering parts of Europe. If we lose this battle there will be no re-match. No second chance. There will be only Islam and most will be too fearful to even question it.
Bob UK:
All crusades have unintended consequences. When you create 65 million refugees via a crusade, expect chaos right up until the time you end the crusade.
I don’t approve or accept what Muslims are doing but I do understand it. End the crusade, don’t intensify it.
There was nothing good about every past crusade and there is nothing good about the current one. Those who engage in crusades are shameful.
What ‘crusade’ are you referrring to? The one where millions of muslims are fighting one another and killing each other in a vile Sunni versus Shia hate thing that has been going on for 1,500 years?
Or do you mean the ‘crusade’ where they obey the words of the Koran and use violence, rape and lies to try to take over the world?
I see you make reference to the past crusades – I assume you are referring to those crsuades taken by Christian Europe to try and recover the Holy Lands after Islam rose up out of Saudi Arabia and conquered the Middle East, then the whole of North Africa from Egypt to the Atlantic coast, then the Balkans, half of Spain, half of France, threatened Italy, surrounded Constantinople, kidnapped tens of millions of Europeans and sold them into slavery in islamic countries?
Is that the crusade that you mean? The one started by islamic armies and waged over centuries?
If you were a European in 12th Century Europe you would have looked at a world around you where you were surrounded by Islamic armies attacking you, raiding your towns and cities, kidnapping your loved ones to take them as slaves, murdering vast numbers of people, in the millions and millions, and threatening to take over Europe and kill every Christian and Jew.
You would have seen Christian settlements in Israel/Palestine, Syria, all across North Africa fall to Islam, its people butchered, or enslaved or forced to convert and then seen half of Spain, half of France fall also, plus parts of Italy and the Balkans right up into Bulgaria and around the Black Sea.
People who apologise for Islam conveniently forget, or do not know out of ignorance, that all the countries that are now islamic were once NOT-Islamic. They were conquered by Islam and those people in them who did not willingly convert were forced to convert by seeing others tortured and murdered.
The Christian crusades were a desperate attempt by Christian Europe to help liberate and save the Holy Lands AFTER the indigenous people had been conquered by islamic armies.
I would love to know where you got the 65 million refugees from? I assume you are blaming the West for this – all around the world muslims are murdering other muslims and the West gets blamed for it? Hmm… Meanwhile, the most fervent islamic countries of Saudi Arabia, Qatar and Kuwait take in NOT A SINGLE REFUGEE!? Please.
I won’t say another word on the matter as this is a financial forum and I feel bad for saying this much – don’t want to hijack and didn’t mean to hijack it – but there are too many people in the West who are tolerant of the intolerant religion whilst knowing virtually nothing of the history of how it has attacked country after country and tortured, enslavement and murdered tens, if not hundreds, of millions of people over 1,500 years.
Bob UK:
Reach into your pocket and try to pull out a coin with only one side. Muslims have been the victims of the last 70 years not the aggressors. Who was the aggressor in Palestine, who was the aggressor in Afghanistan, who was the aggressor in Iraq or Libya or Sudan or Somalia? Yes, the West stirred up the hatred between Shia and Sunni but I was in Northern Ireland 40 years ago and you had the same exact hatred between the Catholics and the Protestants.
The crusades were wars of aggression by Catholics on Muslims. And the occasional Jew who got in the way got massacred as well. To suggest that Muslim religion is evil and Jews, Catholics and Protestants haven’t been just as evil is absurd.
In the last 70 years the US has encourage every fringe nutcase in the Middle East to take up arms and start killing. There is no difference between Zionist nut cases, Catholic nut cases, Protestant nut cases, Shia nut cases and Sunni nut cases. They are all evil.
If you doubt the 65 million figure, you can always google it.
There are more than 65 million refugees and displaced people worldwide. Nine out of 10 refugees live in poor and middle-income countries, not in rich Western nations. There are 2.8 million Syrian refugees in Turkey alone. Only about 18,000 Syrians have been resettled in America since 2011.
Do you seriously believe the Muslims are trying to take over the world?
The funny thing in these debates is that the numbers are clear. How many dead muslims over the past 70 years, killed by Christians and Jews, versus vice-versa? There’s no comparison, the answer is obvious.
And it seems that Westerners generally don’t take into account the simple fact that Bob mentions, that “In the last 70 years the US has encouraged every fringe nutcase in the Middle East to take up arms and start killing.” That the CIA trained what became Al Qaeda is not controversial, I think. And the US support for ISIS is clear for all to see.
No, I do not support resettling people from significantly different cultures en masse. What an utterly crazy (wo)man-made disaster with all this refugee B.S. in Europe. But the root of the problem is the criminal, murderous behaviour of the western foreign policy / military industrial complex establishments, aided and abetted by finance, the media, the government schools, and surely a great many multinational corporations.
Stop creating refugees. Start helping those already created, in place. Stop trying to overthrow Assad, and stop executing all the other plans of the neocons / zionists, and those peoples lives can start to return normal, especially if we help them.
Does the US not owe Iraq some restitution for destroying the country based on the false allegations of WMD? Libya?
Who do you think it is that is shredding the Constitution, if not the same people benefiting from endless war based on demonizing Muslims and Russians, surveillance, propaganda, fiat currency, corporate-written international trade agreements, GMO foods, a cashless society, etc.? You won’t fix all these things if you don’t focus on the root of the problem–the Russians and the Muslims are not the root of the problem.
Most religions, including Christianity went through a reformation, to use history pre-reformation is the act of an ill-informed person. Islam needs a reformation.
Yes, it does. But it can’t have one because it simply murders anyone who does not follow the strict tennants of what is written in its book. It either brutally kills them or it puts fatwas on them telling muslims that they will go to paradise if they kill the heretics.
This is what Catholicism did in the 1500s and it resulted in vast numbers of people burned alive at the stake for daring to question the Catholic Church. Islam seems to have learnt the mistakes of Catholicism and now simply denies hundreds of millions of women an education, denies them any rights and kills anyone who dares question it. It uses rapes, acid in the face and worse to intimidate and destroy. We all know this.
But the biggest weapon it has is political correctness and vast numbers of non-muslims who wish to be seen as ‘cool’ by appeasing it. Our schools and unis have been hijacked and our children brainwashed.
Oh dear.
CFS:
And bombing Iraq, Iran, Pakistan, Afghanistan, Libya, Sudan and Somalia will reform Islam? Just how does that work?
They have been attacked. Of course they respond. You would too. Israel has been claiming victimhood for 70 years and look at all the crimes they commit.
UK Bob
I am not having a pop at any particular religion.
I dont like any of them.
I view them as all the same, jew,christian and muslim, they are all god of abraham.
My point is simply…its NOT the religion, its the “nuts”, they use the religion, religion is just a tool to control people.
Bob M is right. its alot of “blowback”.
One thing that would help stop them (isis etc) is if the americans saudis and israelis would stop paying them and supplying their weapons.
Have I EVER called for ANY attack against Iraq, Iran, Pakistan, Afghanistan, Libya, Sudan, Somalia?
I might consider being in favor of using Napalm on the poppy fields of Afghanistan, but I have NEVER advocated violence.
Yes, I favor a strong military. But I have never advocated the USE of a strong military, however.
That is a distinction WITH a difference.
Incidentally, I have not even advocated gun ownership, although I would defend the second amendment.
Neither, do I personally own a gun, although I have shot many rounds historically and at one time was a good marksman.
My record is here on this blog for over a decade.
I will continue to speak out against Islam until I can shame its advocates into condemning its misogyny and Islamic terrorism.
Just tell those dumb muslims that Mohammed was a bad guy and they should stop following his examples !!
Isn’t this simple enough for you, Bob??? It is simple enough for many muslims!
Good grief Jay, you honustly think Mohamed came up with that stuff?
Islam is not a cult, its a religion, granted, at one time it was a cult, just as christianity was a cult before it was considered a religion.
Funny the things they have in common.
Yeah, dream on. There will be no reformation in Islam. Islam is Mohammed. And the guy was violent criminal. He created this cult of Islam and the gangster attitudes towards non muslims. Protection money ( Jizya ), second class status ( kaffir ). female oppression ( Sharia laws ), legitimacy of offensive warfare, selling slaves, rape of female captives, etc. etc.
Thank you Jay and UK Bob for your efforts.
Good grief Jay, you honustly think Mohamed came up with that stuff?
Islam is not a cult, its a religion, granted, at one time it was a cult, just as christianity was a cult before it was considered a religion.
Funny the things they have in common.
oops, posted in the wrong spot, sry for double post.
Islam is a religion? LOL The core of Islam is SHARIA LAWS. And Sharia Laws apply to you, b. You are under its jurisdiction – according to Islam. You don’t bow down to Mecca 5 times a day? You are an infidel. They are going to make your life unpleasant until you become a muslim. Islam is a massive, worldwide cult. Without the US Constitution protecting your rights, you will be treated like garbage.
“The technicals have taken a turn up and we could see this move continue throughout this month.” Yep. It was difficult to find any weakness at all in the sector today. Mostly a sea of green. Was hoping to buy a dip in early Feb. What dip?
From Bob Loukas:
http://thefinancialtap.com/2017/02/gold-traders
The bullish case looks compelling right here.
“Always look at the evidence as it stands, meaning the recent price action and what has occurred, not what might occur.”
In Doc’s defense Avi, I wouldve thought that the current move in gold and silver is nothing spectacular. Continued weekly closes higher on good volume would be a good sign. We all know how quickly the pms can do an about face in the opposite direction.
I have to admit, it looked pretty spectacular to me today.
Oz:
For contrarians, skeptical is good. For contrarians, a 29 year low in bullish consensus on gold in December said we were going to have a barn burning rally. I may have mentioned that a time or two.
Sooner or later the mass will get it.
It was a pretty spectacular high-volume move that surprised most people. GDXJ is now up about 55% since mid December.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=7&dy=0&id=p83231331486&a=504703611
Dear Matthew
Thank you for your input which is gratefully received down under.
If you have a moment I wonder if you have any thoughts on the PRU.TO chart.
Its looking poor due to some poor announcements., Excelsior was following it too.
Many Thanks and Regards
Chris
Hi Chris,
Since I don’t follow it, maybe Excelsior can share some wisdom about the news you’re talking about but the technicals don’t look good. A move to .28, .25 or maybe even lower looks likely right now.
On the bright side, it trades at just .43x book and .85x sales so it is cheap. In addition, Van Eck Associates recently acquired 116,803,165 shares while Franklin Advisers added 11,108,712 shares to their 67+ million and M&G Investment Management Ltd. added 24,150,627 shares to their roughly 1.6 million share position.
Weekly:
http://stockcharts.com/h-sc/ui?s=PRU.TO&p=W&yr=5&mn=3&dy=0&id=p01452638868&a=456067336
Based on the daily chart and the December 28th gap that just got filled today, continued strength in gold could help it to reverse sooner.
http://stockcharts.com/h-sc/ui?s=PRU.TO&p=D&yr=1&mn=0&dy=13&id=p83046352497
I appreciate your thoughts Matthew
Keep Well
Chris
Matthew, I think you see the big picture better than most. I have been making great money the last year on my gold stocks. Even with the correction at the end of last year, I was up 55% overall on my portfolio. The XAU was up 115% for 2016. I wonder what it will take to turn some of the bears into bulls. I find it very encouraging that there are still so many bears in the PM markets on a site like KEReport. We have a long way to go.
Paul, that’s great that you’re doing well; you must see the big picture, too. You’re right to be encouraged by the fact that there are still so many bears and skeptics. We do have a long way to go.
Oz, as mentioned above —-this move is just a blip on the monthly chart—we are light years yet from the highs last summer.
And, my point, which some dismissed, is that it can happen a lot faster than most seem to be prepared for.
Agree Avi…have seen it before and will see it again..at any time…
Avi:
Ah, yes.
I’m satisfied that Doc & Avi and even Gary are basically on the same page with perhaps a slight difference in timing. I actually loaded up on JNUG several weeks ago based on Gary’s idea that they would fly………Have over 100% gain at the moment. Plan on holding it a while to see where Avi’s thoughts take us. I personally think things could run somewhat further than Doc is looking for before we see a pullback or consolidation. JMO and thanks to all three for their thoughts.
GDX is going to 31-33 before a multi month pullback happens again.
Largest Retail FX Broker FXCM Banned By CFTC, Fined $7 Million For Taking Positions Against Clients –
The CFTC on Monday fined Forex Capital Markets, parent FXCM Holdings LLC and founding partners Dror Niv and William Ahdout to pay $7 million to settle charges it defrauded retail foreign exchange customers and engaging in false and misleading solicitations. As part of the settlement, FXCM agreed to withdraw its registration and never seek to register with the CFTC again, effectively banning it from operating in the US. The CFTC found the retail FX broker had an undisclosed interest in the market maker that consistently won the largest share of FXCM’s trading volume, and was therefore taking positions opposite its retail customers.
California Senate Leader Admits: “Half Of My Family” In Country Illegally With “False Social Security Cards”
“I can tell you half of my family would be eligible for deportation under [President Donald Trump’s] executive order, because if they got a false Social Security card, if they got a false identification, if they got a false green card…almost entirely everybody has secured some sort of false identification. That’s what you need to survive, to work. They are eligible for massive deportation.”
Thankfully I got back in to miners late last Friday. Missed out on some profit by trying to dodge any potential drawdown. Big picture, I think miners, GDXJ, and JNUG will all be much higher before the end of this up-cycle, so I’m not gonna try to time the small stuff.
So Rob do you advocate a continued rally in the pms over the medium term (say the next 3 or 4 months)?
Oz:
The rally will continue until we hit a new high in OI for gold and silver or the daily sentiment reaches 95 or higher. You can track that here. http://trade-futures.com
Even most of the people here are way too bearish given the blistering rally since Dec 15th when JTL nailed the bottom in gold and top in the dollar almost to the minute. The best Matthew could come up with was an hour or so off the bottom.
It’s actually not hard to figure out either tops or bottoms, you have to learn to ignore the noise and focus on the signal. 95% do not, they want to cater to their fantasies.
Fair enough Rob. I suppose contrarian thinking is fruitful more often or not. Its an interesting observation that the crowd was more bearish December last year than December 2015 when gold was nearly $100 lower. Cheers for the link too.
OZ:
Actually contrarian thinking pretty much only works at major turns. If you go to Trade-Futures. com and subscribe, they send you a history of the daily sentiment. It nailed the turn in gold and the dollar on the 15th of Dec. And it came within a couple of days of nailing the top in April of 2011 for silver and Sept of 2011 for gold. But for much of the time it does not give a clear signal. Cots on the other hand give valuable information a lot of the time.
On King World News:
From one of Bill Fleckenstein’s readers:
“On Wednesday I had the opportunity to hear Stan Druckenmiller speak at Purdue University. He covered quite a few topics from investments, interest rates, the Fed, entitlement spending, philanthropy, health care and politics. I found it all to be quite interesting and really enjoyed his stories. He was asked a question about selling his gold holdings after the election and I thought his response was quite interesting:
He (Druckenmiller) said he was long gold and short stocks going into the election as he thought Hillary would win and we would get higher taxes and more regulation which he viewed as negative. When it became clear that evening that Trump was going to win and gold was up big and equities were down big, he sold his gold and got long stocks. It didn’t make sense to him that gold was up big and equities were down as he thought Trump would be in favor of lowering the corporate tax rate and paring back regulations, which he viewed as positive for equities. He said he has been able to do a fairly good job of not getting emotional when it comes to investing and joked that his friend George Soros may have not been able to do the same thing over election night. I also thought it was interesting that he said since selling his gold he has bought it back. He didn’t make any comments as to the size, but said it was an interesting story and unfortunately he didn’t have the time to go into it. It was a real treat to get to hear him share.”
This seems to me just like last year. By the time most of the technical traders and pundits on KE Report called gold a bull market and started really getting excited, I was already up a good 40 to 50% on many of my stocks. The time to jump in was during tax loss selling in December.
I really miss the discussions and give and take with Gary Savage. If you look at his site, he has been calling it right.
E.g. Gary Savage:
https://youtu.be/I7rtg-u5YGM
I have been posting Gary Savage in the forum, and he has NOT been getting it any better or worse than Rick or Doc. IMHO.
I agree. It has been a tough market. So many whipsaws in January and then this one day rocket move up. Not easy at all.
I have been listening to this podcast for many, many years. Maybe I am confusing a trading position with a core position but I don’t see the consistency in the calls. I really think it is a matter of perception. Cory seems to me to be a perma bear. It seems to me that Doc goes back and forth with every move of the charts. Like I said, maybe he is only talking about a trading position but he was very bearish on Friday, saying gold was struggling, over-extended and calling for a breakdown. In the forum, he called for 1160 gold and 16 to 16.50 silver. Anyone who listened to the podcast for the first time would get a very negative impression and think of selling all their gold stocks. Today, if you listened to the podcast, it is the exact opposite. It is like they are ringing a bell saying all aboard for the next run. Did anything really change?
Gary seems much more consistent with his calls.
I don’t follow Gary but I agree with the rest of your comment. We are in a new cyclical bull market and few seem to have appropriately altered their approach.
I am still holding out for 16 to 16.50 silver….. Doc has street cred that I respect so I pay attention to his thinking. Gary Savage is pretty good too. But trading is a tough business. Every analyst is often wrong. We are trying to make money based on very imperfect systems!
Paul W, it is a good thing when most people, including the experts, miss all the signs that a great rally is at hand. It is a hallmark of a bull market and is what a bull market needs in order to stay strong.
I believe that this year is going to be better than last year and will not bring a similar correction.
The Savage has been saying for folks who do not have the stomach and are not accurate traders to hold an old school buy and hold “TURKEY” position. I didn’t sell much through the last correction and will not sell going forward. I’m pretty much an “all-in turkey now:) with an eye to investing in a couple of uranium and copper/gold companies.
Thanks. We are in a bull market so Gary is right, most would be better off to do a lot less trading and a lot more holding. I do both. I trade a lot to manage risk but I stay invested in the sector. For example, I move out of overbought or technically less appealing plays and into one’s that have less downside and/or more upside.
My portfolio is way above last year’s peak and has been for weeks now.
OFF TOPIC:
Government Mismanagement, Freddie, Fanny and Obamacare:
https://btr-grass-04.blogtalkradio.com/1000498868-1531385652.mp3
I take back what I posted earlier about Asian gold demand “seemed to be dropping off”
GolD :
US $1232.30
Shanghai $1238.98
Vietnam $1320
India data n/a
The Rightwing Michael Savage Radio Show today:
https://btr-nnj-grass-1.blogtalkradio.com/1000498612-2119897412.mp3
Sorry for the included ads.
macrovoices.com
Interview with David Rosenberg: Opportunities and Outlook for 2017
Created: 26 January 2017
Please note this was transcribed to best of the ability of the transcriber and may have minor errors. Please refer to the podcast itself to clarify anything.
Erik: Joining me next is Gluskin Sheff Chief Economist David Rosenberg and of course Dave is the author of “Breakfast with Dave” probably one of the best and well known newsletter that’s produced every single day in the industry. So, Dave thanks so much for joining us. I wanna start with your outlook on equities and frankly I’m not sure if I need to talk to an economist or a psychiatrist to get my head around this equity market but you know let’s go back 3 to 6 months, we had the smartest guys in the room, Ray Dalio, Stan Drunkenmiller, Carl Icahn, they were all saying, I thought for very good reason’s this market’s overdone, it’s over bought, you know it’s gone too far. And now Donald Trump gets elected, this guy’s gonna have more headwinds in terms of political opposition than any president in recent history, yet it seems that everybody has just decided that it’s trade up and away from here. Overnight last night S&P futures touched 2999.50 so if the cash index had been trading, it would have broken 2300. Is it just me? I mean everybody’s talking about the analogy to Trump is the new Ronald Reagan and I can’t help but think wait a minute, first 2 years of Reagan’s presidency was a massive bear market and recession. Am I missing something here Dave?
Dave: Well, you know the other thing, I don’t think you’re missing anything, no. I mean the Reagan presidency is well you know, and it goes to show in those first 2 years after the honeymoon period when the market is down 25%, that really basis-point-for-basis-point, what matters you know for the market is the shift in the market multiple as oppose to earnings growth and the Fed certainly showed its hands. Volcker raised and we had the recession starting 6 months after Reagan got elected. People looked benevolently of course and the entire Reagan regime entire 8 years and a lot of that wasn’t just his pro-business stance but also the fact that the FED continued to cut interest rates that reinforced the expansion of the market multiple. But I remember that the starting point in 1982 for the bull market was a multiple that was 8, you know, not the 17 on forward and almost 20 on trailing and that point the onset of the bull market occurred in 1982 after a huge recession. This time around, not only are valuations at 15-year highs but we’re entering it into the eighth year of the expansion of the bull market. You have to respect where were you are in the market cycle in the business expansion and we’re much more mature now than we were in that early stage of Reagan or you can argue the early stage of Bill Clinton or Barrack Obama. I mean the benefit of being elected at the bottom of the cycle, then you can just ride it up and just take credit for it. I think that the challenge for Donald Trump with all deference to the animal spirit rally they were seeing right now is that the multiples are really stretched and that maybe if were not even in the ninth inning of the game here, we’re certainly somewhere in or around the seventh inning stretch. So, the answer is no. It’s not like Ronald Reagan at all in that regard.
Erik: And in terms of where we are and what comes next obviously as much as you and I see a lot of reason for concern here, you can’t fight the tape and clearly the trend has been upward. So, are we gonna see several months do you think of exuberance over this election before reality sets in? And it seems to me like a lot of people seem to think we’re in a new inflationary boom. You wrote an excellent piece back in December saying wait a minute, there’s a lot of good reasons to think that Trump would bring back the disinflation trade. So, do you still see it that way and give us a little bit of background on where that viewpoint comes from?
Ira Epstein’s TA for metals today:
https://youtu.be/uZz1bHqIiCA?t=32
CFS, in the counsel of many there is WISDOM! Thanks for all your posts?
Here is a great site to watch the futures.
http://finviz.com/futures_charts.ashx?p=m5
Here is another good site for data.
I have print-out of this above my desk.
It is good to remind me to use Windex on my crystal ball.
I like Mr Clean
Who got the Last Laugh?
Matthew, im interested to hear of your opinion on what fresh impetus is going to drive gold (and silver by default) past initial strong resistence at around $1370 if indeed we are in a cyclical bull market?
Like the West in general, the U.S. is debt soaked, public and private, and cannot grow its way out of the problem. This means that we can count on real interest rates staying negative for a long time. This is always good for gold but it gets even better when nominal rates are rising at the same time — and they will be, albeit, probably slowly.
In addition to a massive debt bubble, conventional stocks are also in a bubble while gold is extremely under-owned and still comparatively cheap. Since prices are always set at the margin, it doesn’t take many players recognizing where the value is to have a significant impact (and those who do so first will enjoy the biggest gains).
The action in the miners during the first half of last year made it clear, technically, that we have a new bull market on our hands. The ensuing correction in the second half didn’t threaten that fact one bit.
Alex Jones tonight:
I keep the following above my desk. It comes via Grant Williams of Things That Make You go Hmmmm. Maybe it is all you need to know?
Good one. Thanks
5 out of 6 AINT BAD!
Nige from a university at which I taught a long time ago.
The latest Bix:
Off Topic:
https://www.youtube.com/watch?v=xr_yN18KUpg
http://www.marketwatch.com/story/chinas-currency-reserves-drop-to-near-6-year-low-2017-01-07
But China and Chinese Nationals are still buying massive amounts of real assets outside China.
Iranian-Chinese conspiracy?
Tick Tock
CHS, I chuckle at the $ to gold/silver ratios, 1913, present, in bottom right hand corner ON THAT DEBT CLOCK.
Primero is doing what I thought it would. I hope a few of you bought it when I pointed it out recently.
http://stockcharts.com/h-sc/ui?s=P.TO&p=D&yr=1&mn=0&dy=13&id=p63208337293&a=501562704
The 1.25 level marks fork resistance this week but it won’t matter for long, if at all…
http://stockcharts.com/h-sc/ui?s=P.TO&p=W&yr=2&mn=11&dy=13&id=p40888423924&a=501561639
For the U.S. listing, there’s fork resistance at 1.02 this week. I expect some kind of reaction there, whether it’s just a pause or a pullback…
http://stockcharts.com/h-sc/ui?s=PPP&p=W&yr=5&mn=0&dy=0&id=p34514997605&a=501668129
Prior to that, we have resistance at .95 to .97…
http://stockcharts.com/h-sc/ui?s=PPP&p=D&yr=0&mn=5&dy=0&id=p74031770132&a=503312006&listNum=6
Matthew, Thanks for all the good commentary & chart work. A few more arrows you’ve added to my quiver.
You’re welcome, Marty.
Ephesians 6:12
Coming to a Neighborhood near you?
http://www.breitbart.com/london/2017/02/06/cases-fgm-reported-every-hour-uk/
and you wonder why I oppose Islam? The peaceful religion?