A thought provoking conversation with Rick dealing with both economic indicators in the U.S. and international political events.
Big Al and Rick disuss the following: Gold, inspite of negative events going on around the world, highlighted by serious saber rattling from North Korea, has dropped from the significan level of $1250; the frothy U.S equities markets now appear to be including individual investors; and, the domestic housing market also appears to be in a “bubble top”.
Click download link to listen on this device: Download Show
No, Disneyland is not nearly as crazy as the market!
I think a more fitting description is two steps forward, 1.5 steps backward. Gold is still way off the lows. Struggles to keep moving up but continues to despite everyone’s frustration.
Many of the problems in the world today are a direct result of The United States thinking that they are responsible for establishing a just democracy in other parts of the world. I don’t know whether they have truly consider if they have a just democracy at home, to me they don’t and their meddling in Korea in the 1950’s has gotten us in this predicament with North Korea. America doesn’t want China to help negotiate a solution with what’s going in Korea because they are worried that The Chinese might want The Island of Formosa back now present day Taiwan. Without Chinese backing North Korea will cease to exist.
consider should be considered
Spreading democracy. Lol. Brother with all due respect. You’re naive.
Give him a break, he’s Canadian. 😉
And he’s bang on.
Are you Canadian, too?
Joking aside, the U.S. has been spreading its empire, not democracy.
Well that is, afterall, what it says on the marquee of the movie theater.
True news, Dick. Besides, US NEVER won Korean war. Just made It more stronger. That little country has even nukes ans is completetly isolated and independent.
Mr. Tracy, that is an astute comment regardng China and North Korea. The water just keeps getting muddier and muddier, doesn’t it?
The real question is how has contact with Russian government officials become criminalized, grounds for removing a National Security Adviser, an Attorney General, and impeaching a President himself. President John F. Kennedy had ongoing contact with Khrushchev, the head of the Soviet government, in order to resolve the Cuban/Turkish missile crisis without nuclear war. President Nixon had ongoing contact with the Russians in order to achieve SALT I and the anti-ballistic missile treaty. President Carter had ongoing contact with Russians in order to achieve SALT II. President Reagan worked with the Russian leader in order to end the Cold War. I know. I was there.
But if President Trump wants to defuse the extremely dangerous tensions that the reckless Clinton, George W. Bush, and Obama regimes have resurrected with a powerful thermo-nuclear state that only wants peace with the US, President Trump and any of his appointees who spoke to a Russian are unfit for office! This madness is the position of the idiot liberal/progressive/left, the CIA, the Democratic Party, the right-wing morons of the Republican Party such as Lindsey Graham and John McCain, and the two-bit whores that comprise the Western media.
Dear reader, ask yourself, how did communications with Russians in the interest of peace and the reduction of tensions become a criminal act? Have laws been passed that it is forbidden for US officials to speak with Russian officials? Are you so utterly stupid that a presstitute media that has never in your entire life told you anything that was truthful can convince you that those who seek to avoid a conflict between thermo-nuclear powers are “Russian agents”?
pce of a pcr article
The Russia hysteria makes more sense when viewed as a cover story, while the political opposition monitored Trump & Co for months, either illegally or at the very least unconstitutionally. The Russia non-story is unravelling, and here we are.
This is a long, in-depth article that details some of the legal lines that may have been crossed with surveillance. It is somewhat ironic that the creation of a FISA Court and establishment of the Privacy Act of 1974 were direct results of the Watergate fallout.
http://lawnewz.com/high-profile/yes-obama-could-be-prosecuted-if-involved-with-illegal-surveillance
Obama thought he was safe from prosecution with assistance of BUSH CLINTON thugs covering his trail……..
Obama better get a better attorney than HOLTER, eric…….
The Left, possibly lead by Clintons, has painted a picture that no one wants to look at realistically.
The comments about Russian connections simplly relates to them supossidly throwing the election.
?????????
Sorry, I am under heavy hacking attacks today. Both my laptops with different firewalls AND different operating systems have been penetrated. (On one of them I can access no bookmarks). I am down to one computer on a different wireless system plus my Ipad.
I will try to find the intended post.
No problem Professor…….
https://www.nytimes.com/2017/01/19/us/politics/trump-russia-associates-investigation.html
Of course there was no investigation into Obama palling around with communists and convicted terrorists his whole life.
The Right simply chose to let sleeping dogs lie and the Left is definitely not willling to do that even though it is throwing our country into complete disaray. History will judge them as I said in the Market Wrap.
Lefties are convinced that the Right was equally vicious to Obama!
A Lefty friend in the Beltway echo chamber actually denied my assertion that the attacks on Trump have been unprecedented. No sense debating a true believer. Though he might have dialed that position back over the past couple months.
Big Al is in denial about his BOY Clinton paving the way for North Korean nukes…
http://nypost.com/2016/01/06/you-can-thank-jimmy-carter-and-bill-clinton-for-north-koreas-nukes/
Jason, how can you possibly say: “Big Al is in denial about his boy, Clinton?” Your comment is crazy, my friend!
Just teasing a little Al. You did seem to question my Bill Clinton Korean nuke claims yesterday.
Thanks Jaon. I do not have a lot of respect for many of the past actions of the Clintons and I am not putting their daughter into that category. She has to find some of these actions to be terribly embarasing.
Where do you think silver will bottom in the near term?
A reason why Flynn was scuttled by the Obama administration may be explained herein:
I bet Flynn is still working behind the scene…….
I’m not sure. See above OOTB. I may not be able to post anything soon.
got the message……..thanks…….
We are witnessing the deep state, globalist, and criminal media come unraveled. Exciting times for sure!!
http://www.zerohedge.com/news/2017-03-07/wikileaks-hold-press-conference-vault-7-release-8am-eastern
Ditto………it is about time………….CLapper, Carter, Comey….what a crew
Chartster, the world is getting less wramer and less fuzzier.
Soros and Obama are skating on thin ice ( far from shore and in deeeeeep water ….)
Ditto………the ice in the swamp does not last long………
Wonder who turns state evidence first……….on a Federal probe for Treason, sedition etc
The RULE OF LAW……..I think was a campaign promise……..
Seriously Chartster, why would you say that?
All due respect Al. You really should open your eyes. There happens to be a Lot going on.
Trust me Chartster, they are wide open!
I got fed up and went to all cash today as the market looks ready to correct as it appears to have reached the full year target of many institutions and my target too.. Had to take another large loss on gdx. I had stayed away from it for years as it is too difficult to trade.
Gold is likely to head below 1200 and may rally once the jobs report comes out but not likely to go beyond 1225 to 1230.
An interesting observation with 142 days up and 142 days down. Will it pivot here?
There’s a good chance that it will, but it could be just a bounce. Here’s a 2 hour chart of GDXJ, if you can view it:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=120&yr=0&mn=3&dy=13&id=p13551344313&a=511226861
Thanks. I only saw it as a highlighted daily candle, but believe we’re due for a bounce soon.
Bummer. Maybe GH will put post it like he did recently with one of my monthly charts.
That would be great. I really should just upgrade to Pro, but I generally just pop on for quick look at a chart and don’t save my annotations or anything.
GDM is oversold (daily chart) and at support:
http://stockcharts.com/h-sc/ui?s=%24GDM&p=D&yr=1&mn=1&dy=0&id=p92731610495&a=511249380
Here are several supports for silver…
http://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=1&mn=1&dy=13&id=p43571174880&a=449326423
I wouldn’t be surprised by a quick move to the intersection of fork, speed line, and Fibonacci supports around 16.77.
Such a move would send SLV to the following lower fork support (red arrow):
http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=9&dy=13&id=p77415747556&a=510232860
I like that it went down to the 38.2% Fib retracement.
Good catch on the possible symmetry. It seems a little soon for GDXJ to make a sustained move up at this time, barring some unforeseen catalyst. GDXJ might have a destiny with its 400-day average, which is currently 30.64 and rising. I’d be surprised if it went much below that, if at all.
On the other hand, the bulls scored a small victory today and GDXJ is now at a Fibonacci time zone:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=2&dy=13&id=p01340987620&a=511146714
Bulls have good reason to want the current level to hold (green arrow):
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=2&dy=0&id=p27180244656&a=511280093
My read on GDXJ is bullish from here. This down move has been extreme, and seems likely to result in a reversion-to-mean bounce at a minimum. Even if it tests the 200 week simple moving average, currently 31.33, I think there is good upside from here in coming weeks-to-months.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=10&mn=0&dy=0&id=p35527721908&a=501069308
If gold breaks 1200, odds are good it heads down towards Docs stated region in the 1160s. If so, I tip my hat to you Doc. You put it on the line several weeks back when gold was climbing to 1250. Many were questioning your figure but you remained steadfast. More of the certainty please, its great to hear. I know its hard in these times though.
Yep, the doctor is a great technician.
Oz; look for the next stop for silver at about 17.10—then we’ll see where it is most likely heading after that–I’m starting to nibble on some gold and silver shares but believe there’ll be better opportunities in the future—also purchased a uranium miner that has pulled back. The time to purchase is on pull backs. The beleaguered “gold bugs” are going to be pretty depressed after we get through with this pull back that is occurring but for the long term investor it’s going to be a great opportunity.
Thanks for the tips Doc but Im all out of purchasing at the minute. Only did the physical PMs as a small time investor. Now it is just time to play the waiting game. Luckily Ive got time on my side. Am waiting for the next oppurtunity in Australia for land. Plush always hold some cash for the inevitable rainy day
Big Al, Rick,
There has DEFINITELY been a trend change in inflation. I like to look at the $BCOM The change occurred in June of last year. the 50DMA crossed above the 200DMA and has stayed like that since. We’ll have to see how this plays out….
johnnygeneric
You are obviously correct. The deflationists generally don’t get it — even the good ones.
5-Year, 5-Year Forward Inflation Expectation Rate
Yes, it would be nice if people would define their terms and present slightly more nuanced views. This ‘Inflation!!!’ / ‘Deflation!!!’ debate has really gotten old.
I see deflationary forces from the crushing debt burdens slowing economic activity.
I see inflation from massive issuance of fiat currencies, necessary to make the crushing debt serviceable, making itself felt in all the thing we need to buy.
End result for regular working people: purchasing power of income going down.
Thanks to the central banks, we have an ever-inflating money supply which results in perpetual price-inflation. It takes a short memory or creative definitions to not see it. To make things worse, most people still think price inflation is natural and even good. “Demand pull” does not cause a rising general price level even in a robust economy unless the money supply is growing faster than the economy.
+1
Inflation is natural and good, and war is good for the economy–WWII ended the great depression, don’t ya know.
Good grief, the garbage that passes for respectable opinion in the US.
The market is a big Disneyland!