Daily Market Wrap – Tue 11 Jul, 2017

A reversal in gold and a select PM stocks popping today

Gold was looking like it was going to challenge $1,200 today but got a bounce mid day. PM stocks followed but there were a couple that had a very nice move. This could be due to the political news from Donald Trump Jr. but from aย  technical perspective we are due for a bounce. The question is how high can it go?

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Comments:
  1. On July 11, 2017 at 1:44 pm,
    irishtony says:

    The question is how hig can it go….
    To the moon i tell yeh, to the moon…………..
    Somebody please lower the moon.

    • On July 11, 2017 at 4:24 pm,
      Silverdollar says:

      Full moons are bigger, so closer; no?

  2. On July 11, 2017 at 1:58 pm,
    Bob UK says:

    BOE have a meeting this week where they are discussing interest rates also.

    • On July 11, 2017 at 2:09 pm,
      irishtony says:

      OH goody, cant wait to hear carny spew more garbage

      • On July 11, 2017 at 2:09 pm,
        irishtony says:

        ooops….carnEy

        • On July 11, 2017 at 2:14 pm,
          OOTB Jerry says:

          “E” for effort.

  3. On July 11, 2017 at 2:16 pm,
    OOTB Jerry says:

    Hard to believe people are so stupid..believing any Central bank

    • On July 11, 2017 at 2:27 pm,
      irishtony says:

      Yes batshit stupid people believe anything they are told, they have lost the will to think for themselves.
      Talking of batshit crazy…..Go long folks, go long……
      http://www.zerohedge.com/news/2017-07-11/whats-safest-investment-troubled-times

      • On July 11, 2017 at 2:34 pm,
        OOTB Jerry says:

        Short the sh##, not enough to go around, …,Owl has cornered the market on this trade.. ๐Ÿ˜‰

  4. On July 11, 2017 at 2:19 pm,
    OOTB Jerry says:

    Silver headed higher.

  5. On July 11, 2017 at 2:27 pm,
    OOTB Jerry says:

    Repubs are worried, cancel vacation for two weeks…the retards better get it together ,the SHEEple are ticked.

  6. On July 11, 2017 at 2:38 pm,
    Chartster says:

    Recall and replace, congress.

    • On July 11, 2017 at 2:43 pm,
      OOTB Jerry says:

      Spot on..term limits for those retards

  7. On July 11, 2017 at 2:40 pm,
    OOTB Jerry says:

    You’re not a SHEEple ,..more like ,keeper of the the Flock ed.

    • On July 11, 2017 at 2:45 pm,
      OOTB Jerry says:

      Posted in wrong spot…..

    • On July 12, 2017 at 8:40 am,
      Excelsior says:

      +1 IrishT is the “Keeper of the Flock” ๐Ÿ™‚

      • On July 12, 2017 at 2:26 pm,
        OOTB Jerry says:

        ๐Ÿ™‚

  8. On July 11, 2017 at 3:25 pm,
    CFS says:

    Bank of Canada to raise interest rates tomorrow?

    • On July 11, 2017 at 3:47 pm,
      OOTB Jerry says:

      Not going to help the real estate mkt

  9. On July 11, 2017 at 3:59 pm,
    Chartster says:

    OOTB,
    Real estate housing will be slow for the next few months. But we are currently at the bottom” of farms and land! It’s time to buy farms and land right now. I care not what others opinions are on that, I know what the market is doing.

    • On July 11, 2017 at 4:02 pm,
      OOTB Jerry says:

      I am not sure I agree with you..

      • On July 11, 2017 at 4:05 pm,
        OOTB Jerry says:

        Zerohedge has an article out….indicating suburbia is being hit with poverty .

        • On July 11, 2017 at 4:13 pm,
          OOTB Jerry says:

          The majority of people are paying close to 50percent of income for shelter. There are still parts of the country where people are still upside down on their property.

          • On July 12, 2017 at 7:46 am,
            OOTB Jerry says:

            The other portion is taxes ….then they become the slave…

    • On July 11, 2017 at 4:18 pm,
      OOTB Jerry says:

      Farm ground..still needs to be worked…machines are still expensive ,and if you are not working 1000 plus ,I doubt you will make it.

    • On July 12, 2017 at 5:39 am,
      OOTB Jerry says:

      Mortgage applications plunge….zh

      • On July 12, 2017 at 7:49 am,
        OOTB Jerry says:

        Rick might want to have his real estate agent read the report…. she should also be told it is not always location,location location…

      • On July 12, 2017 at 8:34 am,
        OOTB Jerry says:

        RBS….settles ,$5.5 billion mortgage security fraud…..zh

        • On July 12, 2017 at 9:15 am,
          OOTB Jerry says:

          Just more of the criminals running the asylum

  10. On July 11, 2017 at 4:28 pm,
    Chartster says:

    Land is going to blast off.

    • On July 12, 2017 at 5:36 am,
      OOTB Jerry says:

      Land is a big tax target…. ๐Ÿ˜‰

    • On July 12, 2017 at 9:18 am,
      OOTB Jerry says:

      The federal gov’t owns 85 percent of the land in Utah….interesting l think

    • On July 12, 2017 at 9:19 am,
      OOTB Jerry says:

      What price and where are you looking?

  11. On July 11, 2017 at 5:52 pm,
    Matthew says:

    It looks like it’s time for a rally in the gold miners:

    http://stockcharts.com/h-sc/ui?s=%24GDM&p=D&yr=1&mn=0&dy=18&id=p85244989602&a=528708013

  12. On July 11, 2017 at 5:54 pm,
    Matthew says:
  13. On July 11, 2017 at 5:57 pm,
    CFS says:

    Amust listen.
    by G. Edward Griffin

    https://www.youtube.com/watch?v=-BSUXsimOyY

    • On July 11, 2017 at 6:42 pm,
      Ebolan says:

      Real gem you found there, Mr. CFS.

      I’ve heard a bunch of Griffin speeches and presentation. Never heard that one.

      • On July 12, 2017 at 5:34 am,
        OOTB Jerry says:

        How many SHEEple would even take time to listen to this subject matter…more would rather play golf,or watch cnn

        • On July 12, 2017 at 8:30 am,
          b says:

          Not listening might be wise.
          There is nothing to be done about it.

          Well, other than Eisenhower using the 8th army.

          • On July 12, 2017 at 9:20 am,
            OOTB Jerry says:

            Protect yourself…

    • On July 12, 2017 at 5:27 am,
      OOTB Jerry says:

      Really good….THANKS

      • On July 12, 2017 at 5:28 am,
        OOTB Jerry says:

        Abolish the Fed and 16th

  14. On July 11, 2017 at 6:01 pm,
    CFS says:

    I believe Prof. Griffin has missed one point.

    Part of the purpose of the income tax is to allow politicians to curry favor with certain citizens and thereby gain votes.

    • On July 11, 2017 at 6:22 pm,
      Matthew says:

      No matter the details, the entire purpose can be summed up in one word: control.

      • On July 12, 2017 at 8:45 am,
        Excelsior says:

        absolutely.

    • On July 12, 2017 at 7:27 am,
      OOTB Jerry says:

      Term limits might eliminate the “curry”.. ๐Ÿ˜‰

      • On July 12, 2017 at 8:44 am,
        Excelsior says:

        Political curry can be quite stinky….

        Agreed on placing term limits, so they get in, take the hard stand that they were elected for, get work done is a limited time, and get out so someone else has a go at it.

        Lifetime politicians that foster relationships with lobbyists and special interest groups is what spawns the corruption, and their desire to get re-elected quite often stands between them voting for what is right versus what makes them look good. 4 years or 6 years and bu-bye….

        • On July 12, 2017 at 9:08 am,
          OOTB Jerry says:

          Eliminate the Fed…

          • On July 12, 2017 at 9:11 am,
            OOTB Jerry says:

            The above Griffin pod cast …is a great listen to

          • On July 12, 2017 at 9:13 am,
            OOTB Jerry says:

            Until the criminals are kicked out, nothing can change

  15. On July 11, 2017 at 6:43 pm,
    CFS says:

    Goldman Sachs warns that oil could plunge below 40 dollars per barrel. The reasons are obvious ….. increasing supply from all avenues are just too great to handle the decreasing demand for oil.
    (providing no breakout of war)

  16. On July 11, 2017 at 6:58 pm,
    Matthew says:

    IPT finally reached a level that I’ve been watch for a long time (it wasn’t long ago that I doubted it would make it):

    http://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=3&mn=3&dy=22&id=p30048681076&a=533531451

    • On July 12, 2017 at 8:46 am,
      Excelsior says:

      Thanks Matthew. It may be time for me to throw another round of IPT shrimp on the barbie…

  17. On July 11, 2017 at 9:31 pm,
    CFS says:
  18. On July 12, 2017 at 7:09 am,
    Matthew says:

    Ross Clark recently mentioned that the Canadian dollar would make it to about 78 before taking a break but it looks like it will go significantly higher…

    http://stockcharts.com/h-sc/ui?s=%24CDW&p=W&yr=4&mn=2&dy=0&id=p58037566296

  19. On July 12, 2017 at 7:25 am,
    Bonzo Barzini says:

    Anyone here load up on TAHO this week after its tumble from 8.5 to under 5? I felt I should buy at 4.95 but just stared like a deer into headlights.

  20. On July 12, 2017 at 8:03 am,
    Matthew says:

    For the third time since March, SLV found support at the same 50% Fibonacci fan line:

    http://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=5&mn=6&dy=0&id=p91740751892&a=532172659

  21. On July 12, 2017 at 8:24 am,
    Matthew says:

    The Canadian dollar is showing more strength than it did during last year’s big run:

    http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=1&mn=7&dy=0&id=p78284186485&a=477198301

  22. On July 12, 2017 at 9:06 am,
    Excelsior says:

    Palladium has continued to look very strong, and hardly anyone has been discussing this industrial and semi-precious metal all year long. The stocks that actually mine or explore for both Palladium and Platinum have not had a very good run either so there is a real disconnect going on in the PGM space. Platinum should actually start to perform better relative to Palladium and Gold over the next 12 months, and I’d expect a few of the miners to begin recovering a bit.

    Chart – Jim Wyckoff
    Wednesday July 12, 2017

    http://www.kitco.com/commentaries/2017-07-12/Wednesday-s-Charts-for-Gold-Silver-and-Platinum-and-Palladium-July-12.html#palladium1

    • On July 12, 2017 at 9:07 am,
      Excelsior says:

      Darn – that chart I posted from Jim defaulted to Gold, but if you go down under the chart and click on “Palladium 1” you’ll see how well it has performed as of late.

  23. On July 12, 2017 at 9:10 am,
    Ebolan says:

    They’re keeping Bammycare…next stop, single payer after Ryancare implodes…

    Exclusive โ€“ Sen. Rand Paul: Senate GOP Decides to Keep Obamacare

    http://www.breitbart.com/big-government/2017/07/12/exclusive-sen-rand-paul-senate-gop-decides-keep-obamacare/

    • On July 12, 2017 at 9:24 am,
      OOTB Jerry says:

      Really…….that should prove the entire 535 scum bags….need to be kicked out. Term Limits….

      • On July 12, 2017 at 9:25 am,
        OOTB Jerry says:

        Sad…..so sad

        • On July 12, 2017 at 12:08 pm,
          Ebolan says:

          Here’s what Ryancare, McConnelcare, Trumpcare, Romneycare 3.0, Bammycare 2.0…whatever you want to call it will do


          And . . . the best that is offered is Obamacare-lite: keeping the Obamacare subsidies, keeping some of the Obamacare taxes, creating a giant insurance bailout superfund, and keeping most of the Obamacare regulations.

          • On July 12, 2017 at 2:28 pm,
            OOTB Jerry says:

            Part of the scum ville for politicians………wealth to the politicians, lobby groups, and to hell with the American people……

          • On July 12, 2017 at 2:31 pm,
            OOTB Jerry says:

            Problem is that generation z……is broke…….no way to pay.

          • On July 12, 2017 at 2:35 pm,
            OOTB Jerry says:

            Generation z, 54% of that group…..are upside down on credit card, and student loans, and the basement dwellers are not going to be put on mommy and daddies healthcare plan.