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Insiders selling and Corporate buybacks falling – Is the Trump rally over?

Cory
March 23, 2017

Rick Ackerman and I chat this morning about the steady decrease in insider buying and corporate buybacks. A main driver for the markets has been consistent corporate share buybacks but this has been decreasing for a couple months. It is a very bearish sign when we see insiders net sellers of shares and corporations backing off of buying their shares. Overall this could be another sign that the Trump confidence bid is loosing steam.

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Discussion
38 Comments
    CFS
    Mar 23, 2017 23:46 AM

    Boring day? Have yiu looked at Pd?

    Mar 23, 2017 23:09 AM

    Bogus healthcare bill passes tonight. Stock market screams to new high; dollar gaps up. Gold and silver and miners finally collapse.

    Never ever trust a rally in the miners built solely on an FOMC day.

      Mar 23, 2017 23:18 AM

      Good read on healthcare from Bob’s page: https://market-ticker.org/akcs-www?post=231928
      Whatever passes, the ‘real’ problems will remain!

        Mar 23, 2017 23:23 AM

        It doesn’t matter. Deficits don’t matter.

        The stock market is going to scream higher.

        It will be the final nail in the coffin for gold and silver.

          Mar 23, 2017 23:22 PM

          Congress…….all of them need a kick in the arce……get um the heck out of there……TERM LIMITS………

      Mar 23, 2017 23:55 AM

      Yup, it’s a sham. Mostly Obammycare without the mandates. Does next to nothing regarding costs.

      But even if the House of Criminals…er…House of Clowns passes it, you think the Senate will? I am hoping not.

        Mar 23, 2017 23:40 PM

        Healthcare is going to be expensive for everyone…..the cat is out of the box, and the anyone that can pay, will be paying for the ones who can not pay. Twenty million are holding up three hundred and fifty million people.

          Mar 23, 2017 23:41 PM

          Congress need to have the same healthcare……..people should revolt on this issue…..congress is not the elites anymore……..

            Mar 23, 2017 23:42 PM

            Again TERM LIMITS……the people are really dumb on this issue.

            Mar 23, 2017 23:45 PM

            I ran into a state trooper at the coin shop today…..he did not have a clue on the debt , ….his comment was….everything will work out……the coin shop owner is very up to speed on current issues,….he just shook his head , after the cop left.

    Mar 23, 2017 23:15 AM

    EXK’s monthly candle is horrific and there is no way it is going to be salvaged next week.

    EXK will definitely see a new low next month. The monthly chart is completely wrecked. Even if the miners are in a new bull, it will be another year or more before it ever reaches last year’s high.

    In the the next few months, price could go well below the 20 month MA since the damn bollinger bands are still incredibly wide. Dead money. Deader than a doornail.

    Mar 23, 2017 23:23 AM

    Seems to me the shorts are getting some serious pain today in the conventionals.

      Mar 23, 2017 23:12 AM

      So far today is another day to not doubt the markets.

    Mar 23, 2017 23:36 AM

    $gold rejected right on the 50 month MA.

    Mar 23, 2017 23:45 AM

    On the slv weekly chart you have a gigantic head and shoulders being built right now with a neckline at $14.88. If that neckline breaks, silver is headed to single digits again.

      Mar 23, 2017 23:10 AM

      Interesting observation spanky. I see that possible head and shoulders pattern as well. The technicals that I watch there are some support zones on the way down but most importantly around $15 is big. So we agree this level is important… Before calling for single digits the biggest support would be at the low of 2015 – $13.62

      Mar 23, 2017 23:28 AM

      Spanky, are you named after the bad boy on the little rascals. LOL! DT

        Mar 23, 2017 23:01 PM

        yes

      b
      Mar 23, 2017 23:28 PM

      Spanky

      What do you think J Turks cup and handle means in relation to the head and shoulder?
      @kwn if you havnt seen it.

        Mar 23, 2017 23:12 PM

        Not sure. Of course it could play out, but there’s still nothing stopping us from selling off a buck or two here in silver, which would destroy the silver miners.

        You have to have massive conviction or money you willing to lose to be long or short right here, right now. For me it could go either way. I am hanging onto my silver miners against my better judgement, but I know how they can act in a bear. Oh, how well I know…

        Mar 23, 2017 23:16 PM

        Due to the huge difference in scale, the bearish H&S pattern is meaningless to Turk’s cup and handle. In other words, the significant short term pain that that H&S pattern might bring won’t diminish the long term bullish implications of the cup and handle.

      Mar 23, 2017 23:20 PM

      Here were a few Silver stocks that had a nice green day:

      Silver Stocks – SYMBOL – % CHG

      Arizona Silver Exploration Inc. AZS.V +15.56%
      Silver Spruce Resources Inc. SSE.V +11.11%
      Orex Exploration Inc. OX.V +8.33%
      BAYHORSE SILVER INC BHS.V +8.11%
      Excellon Resources Inc. EXN.TO +5.99%
      Silver Dragon Resources Inc. SDRG +4.17%
      Santacruz Silver Mining Ltd. SCZ.V +4.08%
      Silver Bull Resources, Inc. SVB.TO +4.00%
      Golden Minerals Company AUM.TO +3.45%
      Nicola Mining Inc. NIM.V +2.78%
      Bitterroot Resources Ltd. BTT.V +2.50%
      SilverCrest Metals Inc. SIL.V +1.98%
      Golden Arrow Resources Corporation GRG.V +1.45%
      Metallic Minerals Corp. MMG.V +1.32%
      Brixton Metals Corporation BBB.V +1.11%
      Coeur Mining, Inc. CDE +1.02%
      Endeavour Silver Corp. EDR.TO +0.48%
      First Majestic Silver Corp. AG +0.25%

        Mar 23, 2017 23:21 PM

        first majestic ……looks slow compared to the others…….come on Keith get with it… 🙂

    Mar 23, 2017 23:13 AM

    Yup, the bugs are going to have a tough spring and summer. But this fall (and after) will be awesome. Bargains galore.

      Mar 23, 2017 23:15 PM

      Whats new………been tough for 5 yrs…..

    GH
    Mar 23, 2017 23:18 PM

    FWIW, sure, if that H&S formation completed, it would be likely to go much lower, but my read on the weekly silver chart is bullish.

    http://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&st=1980-01-01&en=today&id=p41992430627&a=404703724

    Silver put in an impressive impulse leg up in 2016, breaking upward out of a 5 year downward wedge, and topping a number of previous minor peaks. The correction in 2015, while severe, stopped well above key support levels, including the long term up trend line.

    These factors alone are strong indicators that we are now in a trading range or a new cycical bull up trend for silver, and I see lots of other bullish charts, e.g. $HUI:$SPX.

    Now it is challenging the upper rail of the cyclical bear’s down channel. It’s not surprising we’re getting a lot of back and forth here, with so much strong resistance overhead. But that it pulled back so slightly from its test of the 200 week sma and is now back knocking on the door again, with the 50 week simple moving avg crossing up over the 200 week sma….looks strong to me 🙂

    GH
    Mar 23, 2017 23:30 PM

    Gold, silver, gold miners — all look bullish to me.

    The miners are in a sideways triangle consolidation. My best guess is it drifts a bit more sideways to down, bounces up off the border of the ichimoku cloud and lower rail of the triangle, and breaks out to the upside. If so, this formation could lead to a pretty sizeable move.

    http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=6&dy=0&id=p57643359294&a=514391930

    GH
    Mar 23, 2017 23:35 PM
    GH
    Mar 23, 2017 23:39 PM

    $HUI looks is looking strong vs $SPX:

    http://stockcharts.com/h-sc/ui?s=%24HUI%3A%24SPX&p=W&st=1994-08-08&en=today&id=p03891287018&a=443798499

    It reacted well off key horizontal support, and is showing strength vs the declining 20 week simple moving average. Is that a golden cross behind the price label, of the 50 week sma crossing up over the 200 week sma?

    GH
    Mar 23, 2017 23:46 PM

    This is a kitchen sink chart of GDX

    http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=2&mn=0&dy=0&id=p44771819177&a=480387695

    Lots of resistance right overhead. The thick two-dot-dashed down sloping line is the long-term down trend line from the 2011 high.

    So this is a key level. Also in gold around $1250. Again, I lean bullish. I’m thinking maybe another month or so of frustrating price action, and then a break upward.

    Of course, I’ve been wrong many times before.

    GH
    Mar 23, 2017 23:20 PM

    Of course, it could move more imminently, too. The 60 minute chart is at an interesting juncture:

    https://www.dropbox.com/s/dgrcetkuz5wndt8/20170323_GDX_60min.jpg?dl=0

    GH
    Mar 23, 2017 23:35 PM

    Here are a few gold charts from the maestro (Matthew, hope you don’t mind):

    http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=5&dy=22&id=p52242164055&a=497736597

      Mar 23, 2017 23:41 PM

      I don’t mind at all.

    Mar 23, 2017 23:55 PM

    Trump just issued warning to Repub on Obama care…….change it by Friday, or it is over, and Obama care to remain as is. zerohedge