Chris Temple from The National Investor – Fri 14 Jul, 2017

Understanding What The Data Out Today Means for Investors and The Fed

We have weak economic data but Chris Temple thinks it’s important to take a step back and understand what this means in the big picture. Everyone is trying to predict what the Fed will do with this weak economic data but all we have to do is understand that this data has been weak for a long time and it hasn’t mattered.

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Comments:
  1. On July 14, 2017 at 9:43 am,
    Jason says:

    Somebody bite that hook on PALAF for me so maybe I can go green today. They really baiting the hook with that spread they have been running since the bell!

  2. On July 14, 2017 at 9:50 am,
    CFS says:
  3. On July 14, 2017 at 9:55 am,
    Bonzo Barzini says:

    What’s up with Dominion Diamond DDC today?

    • On July 14, 2017 at 10:54 am,
      CFS says:

      Shares of Dominion Diamond Corporation (NYSE:DDC) (TSE:DDC) have been assigned an average rating of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $14.78.

      There is also a rumor going around on the street of a buy-out.

      • On July 14, 2017 at 12:29 pm,
        Bonzo Barzini says:

        They halted trading in DDC after it went up 6% today

  4. On July 14, 2017 at 11:24 am,
    james says:

    When you din’t know . You don’t know what’s coming to you . https://www.youtube.com/watch?v=XHKkzuU2qtE

    • On July 14, 2017 at 11:41 am,
      CFS says:

      The problem, James, with MOABs or similar GPS-guided bombs is that there are Korean satellites that pass over the US every day. Although they were officially classed as communication satellites, they are, in fact, not.
      If either of these contain an EMP weapon, the US will be driven into the dark ages.
      It it also possible that US GPS satellites can be targeted.
      The Chinese now have their independent GPS system.

  5. On July 14, 2017 at 11:32 am,
    CFS says:

    An English documentary on Politically-motivated, scientifically-moronic concept of man-made global warming:
    https://www.youtube.com/watch?v=DJBDI7jVMqM

    • On July 14, 2017 at 6:02 pm,
      Dan, calgary says:

      Thanks CFS, I watched it all the way through. The 30-40 minute and 1:05 till the end bit got me the most.

  6. On July 14, 2017 at 11:58 am,
    Markedtofuture says:

    Environmental Nightmare! Dozens Of Highly Toxic Substances Have Been Found In Tap Water All Over America

    After reading this article, you will never look at tap water the same way again.

    http://www.zerohedge.com/news/2017-07-14/environmental-nightmare-dozens-highly-toxic-substances-have-been-found-tap-water-all

    • On July 14, 2017 at 12:22 pm,
      Wayne says:

      Good news is food is not toxic. So, don’t worry, eat all you want.

      • On July 14, 2017 at 12:27 pm,
        Bonzo Barzini says:

        Most processed food is toxic and is full of high fructose corn syrup and hydrogenated fat.
        Stick with organic food.

        • On July 14, 2017 at 1:31 pm,
          Excelsior says:

          Agreed Bonzo Barzini.

        • On July 14, 2017 at 1:40 pm,
          Wayne says:

          Everything is toxic if you get too much. Everything is NOT toxic if you do NOT get too much. The world is a lot more complicated than EPA’s gubmint goons know.

    • On July 14, 2017 at 12:25 pm,
      Bonzo Barzini says:

      I have not drunk crap from the tap for 15 years. I even gave spring water to my dog and she lived to 19 1/2.

      • On July 14, 2017 at 1:29 pm,
        Excelsior says:

        Just get a good filtration system and have the toxins and sediments removed.

    • On July 14, 2017 at 12:25 pm,
      OOTB Jerry says:

      Just large corporations wanting and forcing people to buy bottle water.

      • On July 14, 2017 at 12:27 pm,
        OOTB Jerry says:

        Rainwater is free

        • On July 14, 2017 at 5:03 pm,
          CFS says:

          I can’t remember the last time it rained where I am……at least 3 months ago.

  7. On July 14, 2017 at 12:03 pm,
    spanky says:

    GDX:GLD falling apart intraday. Today was nothing but a sucker’s rally.

  8. On July 14, 2017 at 12:06 pm,
    spanky says:

    GDXJ looks pathetic. Should be ringing alarm bells.

  9. On July 14, 2017 at 12:23 pm,
    OOTB Jerry says:

    Read the Act of 1871 ….

  10. On July 14, 2017 at 12:33 pm,
    spanky says:

    Look at that beautiful ramp into the close in $indu. Mining stocks–gap up and then fading well below the open is what we get.

  11. On July 14, 2017 at 12:41 pm,
    spanky says:

    EXK, what a POS.

    • On July 14, 2017 at 1:23 pm,
      Excelsior says:

      EXK was still up on the day and positive like most Silver miners.

    • On July 14, 2017 at 3:42 pm,
      Bonzo Barzini says:

      I think EXK is a great little company and own it.

      • On July 14, 2017 at 5:24 pm,
        Excelsior says:

        Ditto. I just picked up a position in EXK this week/

        • On July 14, 2017 at 5:28 pm,
          Excelsior says:

          I”ve traded in and out of it about a dozen times over the last year and keep telling myself that when I feel the metals are going to turn up for an extend period of time that I’m going to let it ride and keep a core position in place. It is so liquid though, that it is easy to trade, and sometimes I use it fund smaller iliquid trades and then rotate back into it when trimming those.

  12. On July 14, 2017 at 12:49 pm,
    spanky says:

    Miners being faded hard into the close, relatively speaking. Nothing bullish whatsoever about today’s action. More shorts piling on on every uptick or gap up.

    • On July 14, 2017 at 1:37 pm,
      Excelsior says:

      “Miners being faded hard into the close” ??

      There were tons of stocks still rallying into the close today as well, but overall it was very fairly distributed where most miners gained on the day and simply held the gains.

      There was a minimal dip in the ETFs and funds at the end of the day/week before the weekend but it was negligible in the overall move on the day.

      • On July 14, 2017 at 1:39 pm,
        Excelsior says:
      • On July 14, 2017 at 1:42 pm,
        spanky says:

        GDX put in a black candle on a day gold was up $11-12. That’s not bullish action. Certainly not indicative of some major low having being struck. We are going lower into August. The July 10 low is toast. We are going to get a monumental washout before any bounce.

        • On July 14, 2017 at 3:11 pm,
          Matthew says:

          You put a lot of weight on a single candle, Spanky. Have you ever noticed that those black candles happen only on days when there’s been a gap-up at the opening of the session? Did you also notice that the December low was marked by two black candles?

          The market typically hates gaps so maybe big money is painting them in an effort shake weak hands out of their shares and their convictions. Whatever is going on, black candles haven’t meant much in the recent past.

          http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=0&dy=13&id=p33149166004&a=534426959

          • On July 14, 2017 at 4:14 pm,
            Excelsior says:

            Matthew I was thinking the same thing about the over significance being placed on black candles.

            They mark bottoms as often as they mark tops, and many times are just sandwiched in the middle of an uptrend or downtrend. Basically they aren’t very predictive in nature.

            Personally, I place very little importance on black candles because they simply mean that that today’s close was lower than the open, but that the close was higher today than yesterday’s close. If anything they are a mixed signal and more neutral.

            Also, after following candlesticks for years, it is always difficult to put too much emphasis on one candle. The trend or pattern is ultimately more important. Having said that a Hammer or Inverse Hammer or a Doji candle can be significant in marketing a turn in direction, so I place much more importance on those than the color of a candle.

          • On July 14, 2017 at 4:22 pm,
            Excelsior says:

            For example, in the 2nd chart you posted pointing to Dec 19th it was a Doji candle the marked the turn in direction, where there is a long wick and a sliver of a candle where the open and close are in a narrow proximity. This is far more important to watch for than candle color in my experience.

          • On July 14, 2017 at 4:39 pm,
            Matthew says:

            I agree but would place more significance on them when they don’t follow an upward price gap.

  13. On July 14, 2017 at 12:54 pm,
    Excelsior says:

    @Goldfinger – “There is a very good chance that $1204 is a low that will hold for some time in $gold. Price has held up well given a substantial liquidation has taken place. Bullish seasonality should also begin to kick in soon. Gold has a lot of things going for it here including sentiment; many fewer reasons to be bearish given seasonality, CoT positioning, sentiment, etc. ”

    @Goldfinger – “Very constructive $gold CoT report with large specs liquidating more than $4 billion in net notional length. Open interest also increased more than 18,000 contracts which is consistent with the theme that trend followers have been shorting into the decline earlier this month. ”

    http://cdn.ceo.ca/1cmi79l-Gold_CoT_7.14.2017.png

    • On July 14, 2017 at 1:13 pm,
      Excelsior says:

      Sprott predicts gold will rise by end of 2017, driven by equity correction

      KRISTINE OWRAM – Bloomberg News – Friday, Jul. 14, 2017

      “The next move on gold will be driven by an equity market correction,” Chief Executive Officer Peter Grosskopf said in an interview at Bloomberg headquarters in New York. “It’s a pretty safe bet that if equity markets start to look volatile and dangerous then a lot of money will flow into gold as a hedge to that.”

      https://www.theglobeandmail.com/globe-investor/investment-ideas/sprott-sees-next-gold-bull-market-driven-by-equity-correction/article35692134/

    • On July 14, 2017 at 1:38 pm,
      spanky says:

      I have a feeling commercials loaded back up with shorts this week and especially today.

      Even if we are close in time to a low, a lot of technical damage can be unleashed in just 1 week. The monthly charts are already bearish enough, but one price drops sufficiently below the 20 MMA, the chance of a reversal is slim to none.

      • On July 14, 2017 at 2:14 pm,
        Excelsior says:

        That’s a valid point, but the converse is also true. If there is a short squeeze for all those that loaded up on shorts earlier this week, then it could really move things to the upside. We’ll see how it goes….

  14. On July 14, 2017 at 1:03 pm,
    spanky says:

    Really nice H&S pattern forming in gdx:gld 5 minute chart. Down she goes next week.

    Today was nothing but an opportunity for smart money to dump/short shares all day after a large gap up.

  15. On July 14, 2017 at 1:37 pm,
    GH says:

    GDX is at a significant juncture

    http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=6&mn=6&dy=0&id=p13267368240&a=480387695

    In general I like what I’m seeing in the precious metals charts.

  16. On July 14, 2017 at 1:39 pm,
    GH says:
    • On July 14, 2017 at 1:50 pm,
      spanky says:

      There is a giant head and shoulders on the $XJY chart, with the neckline starting at the 2015 low and slanting upwards diagonally.

      • On July 14, 2017 at 1:59 pm,
        GH says:

        I added the neck line. But I’m skeptical that H&S will materialize.

        • On July 14, 2017 at 2:40 pm,
          Excelsior says:

          Good chart GH. That doesn’t really look like a H&S pattern to me either.

          Thanks for the trend-line showing where Yen support should materialize if there is any more downside left.

  17. On July 14, 2017 at 1:43 pm,
    GH says:
  18. On July 14, 2017 at 3:11 pm,
    Ebolan says:

    You boys behaving today???? Well then…maybe you saw this…

    Pocahontas is on the war path….going to get some Kid Rock scalp…but maybe all she gets is a hot foot…ought to be awfully entertaining and worth a laugh.

    See you around the tepee…I’ll be wearing my best moccasins…

    http://www.bostonherald.com/news/us_politics/2017/07/liz_warren_sounds_fundraising_alarm_over_kid_rocks_potential_senate_run

    • On July 14, 2017 at 3:24 pm,
      Matthew says:

      I’ll take an auto-tuned senator over a fake Pocahontas any day. 😉

      https://www.youtube.com/watch?v=0DQup4hd1_o

    • On July 14, 2017 at 3:31 pm,
      :OOTB Jerry says:

      She is one among many who need to be run out of office

  19. On July 14, 2017 at 3:33 pm,
    OOTB Jerry says:

    She is one among many who need to be ran out of office

  20. On July 14, 2017 at 3:38 pm,
    OOTB Jerry says:

    Bitcoin takes a hit..zh

    • On July 14, 2017 at 4:17 pm,
      OOTB Jerry says:

      I bet Yellen is going crazy….no she is crazy….

  21. On July 14, 2017 at 3:41 pm,
    OOTB Jerry says:

    Trump had a great day in Paris today.

  22. On July 14, 2017 at 4:02 pm,
    Matthew says:
    • On July 14, 2017 at 4:25 pm,
      Excelsior says:

      Nice Arc support in full effect on GLD. Thanks Matthew.

    • On July 14, 2017 at 5:35 pm,
      Steele says:

      That chart is almost hypnotizing. I agree that the sector is going higher next week.

      • On July 14, 2017 at 8:06 pm,
        Matthew says:

        The green arc has been in play a lot over the last year.