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Cory and Big Al opine on the market closing numbers.

Big Al
May 17, 2017

Ouch, a three hundred and seventy seven point drop in the Dow today!

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Discussion
68 Comments
    CFS
    May 17, 2017 17:14 PM

    http://www.cbsnews.com/news/doj-appoints-special-counsel-in-wake-of-comey-developments/

    Why was no special prosecutor appointed to investigate Hillary?
    Why was their no special prosecutor appointed for Pizzagate?
    Why is their no special prosecutor appointed for Fast and Furious?

    Because Trump is a wishy-washy incompetent amateur.

      May 17, 2017 17:23 PM

      CFS,
      The DOJ hired Mueler to make the swamp happy. Mueler will find no evidence, as there is none….I’m sure Mueler is put there to keep an eye on McCabe as well. The DOJ can focus on more pressing matters, like draining the swamp! It’s a good move IMO. And second guessing Trump hasent really worked out for anyone, now has it?!

        May 18, 2017 18:01 AM

        ditto…..on the swamp happy…….

          May 18, 2017 18:37 AM

          THE BIG WITCH HUNT IS ON………….Trump tweets his comments concerning special prosecutor., which I think are legitimate ….WHY DIDN”T THEY APPOINT A SPECIAL PROSECUTOR FOR HILLY,

            May 18, 2017 18:46 AM

            Comey did not do his JOB to begin with………

        May 18, 2017 18:40 AM

        Does anyone in their right mind think….a deep state creature is going to be fair…..DOJ, FBI………FBI did not do their JOB ON 9/11, Pizza gate etc……like duh

          May 18, 2017 18:41 AM

          JUST Keep the Sheeple happy…………lol

          May 18, 2017 18:41 AM

          Just RElease the 600,000 emails…………..

          May 18, 2017 18:42 AM

          How about some WEINER stories surface……..

          May 18, 2017 18:43 AM

          Unseal OBAMA’s SCHOOL RECORDS

    CFS
    May 17, 2017 17:18 PM

    How about a special counsel for Obama failing to enforce border laws?
    How about a special counsel for Obama over the Iran deal deal and his illegal fly-by-night plane-load of money?

    CFS
    May 17, 2017 17:22 PM

    But are Comey’s memos truthful or deliberately-written lies to be vindictive?

      May 18, 2017 18:47 AM

      I am going with lies to cover his A**

    CFS
    May 17, 2017 17:25 PM

    Cory, there is a lot of international money moving OUT of the US because of over-valuations.

    That is why the dollar is going down.

    May 17, 2017 17:28 PM

    Gold was up today because the Japanese yen got a major safe haven bid.

    May 17, 2017 17:37 PM

    Change ? Yes we can ? Trump ? Al WHY you still ? https://www.youtube.com/watch?v=vqYJRc0TJkQ

    CFS
    May 17, 2017 17:05 PM
    May 17, 2017 17:06 PM

    Al Its reality time. Comey was smeared , and has notes that show Trump lied [ AGAIN ] The Repubs will have to remove him the Dems cant they dont have the power . Trump will Resign , or be Impeached by end of 2017. He cant control himself, and is not the efficient businessman he said he was. Prayfor Sanity. .

      CFS
      May 17, 2017 17:33 PM

      It’s a he said —he said situation.

      Comey has lied in the p[ast and shows democrat-leaning bias.

      Trump also has lied in the past.

      SO WHO IS NOW actually telling the TRUTH?.

        CFS
        May 17, 2017 17:51 PM

        It is interesting that if Comey thought there was any Obstruction of Justice or may now claim this, he has committed a violation of U.S. code by not reporting it immediately to the U.S. Attorney General. (It will be interesting if his “memo” self-incriminates him.)

          CFS
          May 17, 2017 17:55 PM

          Correction: Replace Attorney General with Dept. of Justice.

            CFS
            May 17, 2017 17:58 PM

            Comey apparently has a track record of multiple lies to favor Democrats according to a book about to be published in July. (Author Gonzales)

      May 17, 2017 17:19 PM

      Russell, along with the neocons, your Dems would no longer exist if you get your wish for sanity.

      Democrat Hypocrisy On Firing Comey
      https://www.youtube.com/watch?v=u4G2N25Jp88

    CFS
    May 17, 2017 17:08 PM
    May 17, 2017 17:13 PM

    what did The American public do when they heard about the disclosures that The Clintons were corrupt. Did they rise in wrath to punish the offenders. No they reserved their judgement for those who insisted on bringing the facts to life. No they blamed people who tried to bring the facts to life as being “Bolsheviks”. America is in deep decline and they blame people who don’t agree with them as being unpatriotic. DT

    May 17, 2017 17:35 PM

    Speed line support for DIA is about 5% below the current level:

    http://stockcharts.com/h-sc/ui?s=DIA&p=W&yr=1&mn=11&dy=0&id=p19493826946&a=493833361

    May 17, 2017 17:48 PM

    Banker: “One Million Will March On Washington If They Impeach Trump. They Will Be Armed”

    Sometime contributor Bon Scott who happens to be not only a Trump supporter but more importantly a Constitutional expert and Big “L” Libertarian had this to say in response the ‘Impeach Trump’ escalation.

    10,000,000 people will march on Washington if they try to impeach Trump… they will be heavily armed. I will be one of them. No kidding
    While our colleague seems given to hyperbole consider this. Last year as early as February he said:

    “Trump can win. Ignore the polls. Polls are meaningless in an election with so many “shock events”. The truth is Donald Trump can win the election in a landslide.

    http://www.zerohedge.com/news/2017-05-17/10000000-people-will-march-washington-if-they-impeach-trump-they-will-be-armed-no-ki

    May 17, 2017 17:51 PM

    Trump-Xi Deal Could Fuel A U.S. LNG Boom

    The glut is still here, and there is no gas-related OPEC to try and do anything about it, so prices are bound to stay low for a while longer. For how long, it is difficult to say. Capturing a piece of the Chinese market may be a challenge but the rewards to be reaped sure look like it’s worth it.

    http://www.zerohedge.com/news/2017-05-17/trump-xi-deal-could-fuel-us-lng-boom

    May 17, 2017 17:28 PM

    Will gold soon take back the 233 week moving average? I don’t feel strongly that it will right away but that uncertainty is probably bullish. It often has been.

    http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=5&mn=6&dy=0&id=p54908082838

    May 17, 2017 17:32 PM

    TLT priced in GLD gapped down and spent the rest of the day filling that gap. I see no reason to think that TLT:GLD is not putting in a very large top and that will be great for the gold sector.

    http://stockcharts.com/h-sc/ui?s=TLT%3AGLD&p=W&yr=6&mn=9&dy=0&id=p30131537847&a=518122837

    May 17, 2017 17:35 PM

    I have no position in KDX but for those who do, it’s holding up well.

    http://stockcharts.com/h-sc/ui?s=KDX.TO&p=W&yr=4&mn=2&dy=0&id=p43218301782&a=519193700

    May 17, 2017 17:40 PM

    The dollar is well below the weekly lower Bollinger band and the RSI is at a one year low. It does not look good but let’s see how it finishes the week.

    http://stockcharts.com/h-sc/ui?s=%24USD&p=W&yr=3&mn=3&dy=0&id=p17898815384&a=520931764

    May 17, 2017 17:43 PM

    After a 13% run to the 200 day MA, the XAU looks like it needs a break:

    http://stockcharts.com/h-sc/ui?s=%24XAU&p=D&yr=1&mn=0&dy=13&id=p80406760350&a=522088160

    May 17, 2017 17:46 PM

    The Canadian dollar didn’t close materially higher than yesterday…

    http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=1&mn=0&dy=13&id=p71817255104&a=522641997

    May 17, 2017 17:56 PM

    Gold just had its highest volume day since January and the daily chart looks good…

    http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=1&dy=0&id=p39477348703&a=524385264

    May 17, 2017 17:05 PM

    Just to add my 5 cents, I’m getting a sniff, maybe not a smell, that this is a turning point, the attacks on DT are relentless and even Putin is finding it funny because its so stupid, anyway, I’m a PM person, haven’t bought any for a year, bought some today though, just one person’s opinion

      May 18, 2017 18:09 AM

      ditto on Putin…….

    May 17, 2017 17:39 PM

    Amicus Brief filed in the Supreme Court on behalf of Allied Nevada shareholders

    you can follow the case here:

    https://www.supremecourt.gov/search.aspx?filename=/docketfiles/16-1236.htm

    CFS
    May 18, 2017 18:16 AM

    ttps://mcalvanyweeklycommentary.com/wp-content/uploads/ica2017-0517.mp3

    May 18, 2017 18:11 AM

    Huge gap down in GCC this morning. Stick a fork in commodities for the next 4-6 weeks. Retest of the 2016 lows incoming. I expect at least a retest of the lows in GDX as well. Silver miners should be decapitated.

    May 18, 2017 18:13 AM

    Who has the smarts to buy the preeminent fascist stocks AMZN and GOOG on this dip? It’s free money, you just have to reach down and pick it up.

      May 18, 2017 18:36 AM

      You can have my share………just remember to pay it back….. 🙂

    May 18, 2017 18:19 AM

    Yen getting slammed today. I don’t know exactly how this right shoulder in $xjy and $gold is going to play out, but make no mistake we are building out a right shoulder for a trip down to Chinatown.

    May 18, 2017 18:33 AM

    There is absolutely nothing bullish about SLV:GLD on the daily or weekly charts. Nothing. If the cyclists are right and gold drops significantly from here, the ratio is going to get destroyed. We really should not be breaking below the 2015 lows if this is really a new bull. All will be revealed soon enough.

    May 18, 2017 18:36 AM

    Absolutely hideous topping candle developing on the weekly $silver chart. There will be follow through to the downside in the coming weeks unless there is a miraculous rally into tomorrow.

    CFS
    May 18, 2017 18:38 AM
    May 18, 2017 18:01 AM
    CFS
    May 18, 2017 18:27 AM
    May 18, 2017 18:51 AM

    $CDNX–they will never make it easy. Putting in a topping candle this week. I suspect that they will slam it down hard for at least one week in the coming few weeks to send the stochastics into oversold territory. I’ll admit the chart looks overall bullish to me, but in the short run, they can and will take it anywhere they want to create a bottom.

    If it rallies hard along with GCC tomorrow, then I could see us staying in a tight range even into the June FOMC. But when have they ever just let miners just gently rise from a neutral position. It never happens. There is always a shakeout that scares the bejeezus out everyone before any kind of breakout. I expect no different this time (if this is even a bull market).

      j
      May 18, 2017 18:20 AM

      lol…yah CDNX is so manipulated….look at your own chart as CDNX ran hard Jan 2016 into the pm sector top last summer most mining stocks put in 200-500–800% pops…manipulated.lol

      May 18, 2017 18:30 AM

      Spanky, a lot more than just precious metals, or commodities in general, are represented in that index.

      ftp://ftp.cdnx.com/SPCDNXIndex/Constituents.txt