What a ridiculous last 45 minutes for the US markets today!
Here are my comments on gold and gold stocks, the US equity markets and oil. The real takeaway from today is when you think it’s a sure thing that the US markets will close the day down, even if it is not a huge down day, it can only take 45 minutes to prove you wrong…
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And, THE ESF HAS INFINITE RESERVES TO STABILIZE/move markets
Cory:
Good comments for the week’s ending actions. No fundamentals support where we are but it will go on until it doesn’t. Casey’s dispatch today is entitled: “No way in hell this end well”. I’d say a few shorts decided not to test their positions and reversed them. Oil (WTI) still sitting at $54. Todays report of crude productions showed US passed 9 M. last week. Maybe they’re storing it in the new pipelines!
Next week could be interesting. Miners continue to drift lower in spite of metals advancing. Obviously one of them is wrong at this juncture. The majority would be caught on the wrong side if metals jump next week and that’s what I’m thinking could happen. It really depends on whether the banks have secured their positions for the next run-up. That’s really Gary Savage’s thoughts but I am tending to believe him this time. We’ll see.
“Beware of pissed off Goldbugs!”: http://www.stocktipster.net/index.php/2017/02/25/another-day-another/
I don’t know why Billy thinks anyone should be pissed off. The gold miners have been falling versus gold for the last 13 sessions and the action is perfectly normal and healthy. They will fall some more…
http://stockcharts.com/h-sc/ui?s=GDXJ%3AGLD&p=D&yr=0&mn=6&dy=13&id=p56711260601&a=508976029
Wrap TA
(UUUU) (EFR) Energy Fuels’ Curtis Moore Interview
Curtis Moore, VP marketing and corporate development for Energy Fuels, explains how 2017 could be the turning point for Uranium prices.
February 23, 2017 – Melissa Pistilli
“At the Bar” – VRIC 2016..
Published on Feb 17, 2016
“Newsletter writers Brent Cook of Exploration Insights and Mickey Fulp of Mercenary Geologist are joined by guests Nikki Adshead-Bell, president of Cupel Advisory Corp., and Exploration Insights analyst Joe Mazumdar, in this latest installment of “At the Bar,” taped on the sidelines of the Vancouver Resource Investment Conference in January.
Along with guest host Lesley Stokes, staff writer at The Northern Miner, the group tackles the issue of how and why the gold industry is quickly changing and what companies may stand out above the rest.
Brought to you by Mining Clips, “At the Bar” strives to bring a casual but insightful look into the resource industry to help retail investors make better decisions with their investments.”
Gold’s Rally: Key Tactics For Profits
Morris Hubbartt – Feb 24, 2017
Super Force Precious Metals Video – Technical Analysis
(Click on the various blue links amongst the charts for the VIDEO segments)
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CAVEAT: Remember Cory, 80% of all trading is program and/or HFT