Insiders selling and Corporate buybacks falling – Is the Trump rally over?
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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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.
Good read on healthcare from Bob’s page: https://market-ticker.org/akcs-www?post=231928
Whatever passes, the ‘real’ problems will remain!
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.
Congress…….all of them need a kick in the arce……get um the heck out of there……TERM LIMITS………
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.
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.
Congress need to have the same healthcare……..people should revolt on this issue…..congress is not the elites anymore……..
Again TERM LIMITS……the people are really dumb on this issue.
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.
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.
Seems to me the shorts are getting some serious pain today in the conventionals.
So far today is another day to not doubt the markets.
$gold rejected right on the 50 month MA.
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.
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
Spanky, are you named after the bad boy on the little rascals. LOL! DT
yes
Spanky
What do you think J Turks cup and handle means in relation to the head and shoulder?
@kwn if you havnt seen it.
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…
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.
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%
first majestic ……looks slow compared to the others…….come on Keith get with it… 🙂
Yup, the bugs are going to have a tough spring and summer. But this fall (and after) will be awesome. Bargains galore.
Whats new………been tough for 5 yrs…..
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 🙂
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
On the weekly chart, GDXJ is above the 200 week simple moving average, and that moving average will level out over the next month, barring a sharp drop in GDXJ.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=8&mn=0&dy=0&id=p24645045764&a=501069308
looks to me like it’s consolidating it’s position above the 200 weel sma and gathering strength for another leg higher…
Maybe sideways action until about the end of April? Two sets of fibonacci time zone lines fall in very close proximity at that time:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=8&mn=0&dy=0&id=p88050520869&a=512026479
Blue arrows indicate number of nearly overlapping lines
Gold has entered a cyclical bear relative to the gold miners:
$HUI looks is looking strong vs $SPX:
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?
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.
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
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
I don’t mind at all.
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
Boring day? Have yiu looked at Pd?