Rick Ackerman and Technicals – Wed 11 Oct, 2017

Comments on Gold and the Dow

Rick Ackerman is with us today to outline his targets for gold and the US markets, specifically the Dow. Rick is actually quite bullish on the gold price but still has a stop in place that he shares with us. As for the US markets, Rick and his subscribers have a level they would like to short but picking the mother of all tops is a dangerous game.

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Featuring:
Rick AckermanCory Fleck
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Comments:
  1. On October 11, 2017 at 11:40 am,
    Matthew says:

    It’s usually a bullish sign when “risky” leverage plays lead the way as Seabridge Gold is doing now…

    http://stockcharts.com/h-sc/ui?s=SEA.TO&p=W&yr=3&mn=0&dy=13&id=p16051128805&a=549752498

    • On October 11, 2017 at 12:07 pm,
      spanky says:

      It bottomed six months before the larger gold miners and silver miners in 2015. This tells us nothing that we didn’t already know–miners are stuck in a tightening consolidation until they aren’t and there is plenty of wiggle room on the monthly chart to send them to a new yearly low. And silver miners, my word, there is lots of air to play with on the monthly charts for many of them. You buy a silver miner now, be prepared to see any number you can imagine on the downside.

      • On October 11, 2017 at 12:15 pm,
        Matthew says:

        Spanky, you don’t have a clue. On that chart above, that’s called a breakout. Your fear-driven approach to investing will only get you into trouble.

        • On October 11, 2017 at 12:17 pm,
          Excelsior says:

          Bingo.

        • On October 11, 2017 at 12:19 pm,
          spanky says:

          Not if I do the opposite! lol

          • On October 11, 2017 at 12:21 pm,
            Matthew says:

            True.

  2. On October 11, 2017 at 12:12 pm,
    spanky says:

    The Fed and BoJ knew exactly what they were doing in 2012-13. They needed to put a lid on commodities and they did a damn fine job. As long as the BoJ bends over for the Fed, commodities are going nowhere. Sure we could get a bounce or multi-month rally, but any upward movement will be glacial and small. They know that is commodities start rising, growth is dead and the working stiffs will be out with pitchforks for them.

    • On October 11, 2017 at 12:25 pm,
      Excelsior says:

      The FED wants inflation, and commodities will rise as part of inflation. Once the inflation starts (and it already has in many services, food costs, education cost, event tickets, etc….) , the chumps and chimps at the FED aren’t going to be able to just keep it at 2% (ridiculous notion).

      You place FAR too much confidence in the central banks and central planners, as if they had a freakin’ clue what they are doing. Mother Felon just admitted she doesn’t understand where the inflation is, and that their projections have been off for years.

      What gives you any confidence that they have any inkling what they are doing?

      As for the Bank of Japan – they’re in a fine mess as well. Euroland – also a mess.

      The monetary metals Gold & Silver will only continue to get a bid as the world wakes up to the fact that the central banks are buffoons, and all the kings horses and all the kings men are going to be able to put Humpty Dumpty back together again.

      • On October 11, 2017 at 12:27 pm,
        Excelsior says:

        all the kings horses and all the kings men are NOT going to be able to put Humpty Dumpty back together again

        • On October 11, 2017 at 1:49 pm,
          JohnK says:

          You will be proven correct over time I’m sure. One has to step back and wonder how the “Powers that be” have managed to keep the precious metals suppressed as long as they have.
          One must wonder why you don’t hear more objection from the major Producers? Is it because they get there cards dealt to them face up?I would like someone to challenge me on this one.Any takers?

          • On October 11, 2017 at 1:53 pm,
            spanky says:

            Because the commodity complex is at 40+ year lows! Gold may outperform commodities as it has in the past, but when the complex is sinking like a stone, so will gold! The Fed prints up 4.5 trillion and the commodity complex is at 40+ year lows!!! Masterclass!

          • On October 11, 2017 at 1:58 pm,
            JohnK says:

            Spankmeister:
            Things could change later on this month.If they don’t expect more of the same.
            Until someone can tell me what happened to the Gold from the 9/11 heist and the 290 Billion in Brady Bonds,I would say they are full of crap and guessing at best.

          • On October 11, 2017 at 2:09 pm,
            Excelsior says:

            Spanky – I think you mean they are setting up for a “Master Crash” not “Master Class” 🙂

            As for the “commodity complex sinking like a stone” – that is just Master Sass.
            What in the world are you smoking man?

            Since early 2016 Copper has been ratcheting higher and higher.

            Zinc has broken out to it’s highest level in years along with it’s companion metal Lead,

            Lithium & Cobalt have been soaring due to the interest in Battery Metals (and Manganese is right behind them),

            Palladium has broken out above Platinum to it’s highest level in years,

            Specialty metals like Niobium, Scandium, Vanadium, Tungsten, Neodymium, Dysprosium, etc.. are moving higher again,

            …and yes even good old Gold & Silver have been moving higher since their major bottom in Dec of 2015.

            Since early 2016 most commodities (barring the energy components like Uranium, Oil, Gas) have been moving higher, basing, moving higher, consolidating, moving higher….

            Does that sound like “flat-lining” to you?

            I’ll agree that in Jan 2016 Commodities were a decades (maybe even centuries) lows relative to other assets classes. That is what we call a Bottom. There is only one direction to go after a bottom and that is UP!

            If you believe any of your Master Sass then you should have had an insane short position in place all year long, and should be shorting the commodity complex at present.

            You’ve never responded back when I’ve asked you about this the last few times, so I’m still waiting to find out if you have the conviction of your endless rants about the commodities getting ready to go down the toilet or nose dive. Do you have a massive short position against the commodity complex, or is the only thing short your conviction?

        • On October 11, 2017 at 2:00 pm,
          Xriva says:

          Excelsior
          Just a quick hello, and to say glad to see you online.
          Hadn’t seen you on CEO.CA lately.
          Hope all is well,
          Kevin

          • On October 11, 2017 at 2:19 pm,
            Excelsior says:

            Hi Xriva. Yes, all has been very well and thanks for saying hi. I haven’t seen you posting as much either, but enjoy all our energy discussion.

            I was traveling for a week in the Olympic Mountains and Snoqualmie Mountains, and then site-seeing in Seattle, and got very busy upon my return. Everyone got obsessed with NFL players knees, Las Vegas shooters, and other such debates, which held very little interest to me, so I thought I’d take a breather from blogs for a little while.

            It was nice to have views like this for a while instead of a computer screen:

            http://cdn.ceo.ca/1ctsmkk-DSC02624.JPG

          • On October 11, 2017 at 2:21 pm,
            Excelsior says:
          • On October 11, 2017 at 2:22 pm,
            Excelsior says:
          • On October 11, 2017 at 2:22 pm,
            Excelsior says:
          • On October 11, 2017 at 2:23 pm,
            Excelsior says:
      • On October 11, 2017 at 1:26 pm,
        spanky says:

        The Fed wants inflation, huh? That is why they are tightening, right, because they want higher inflation? Please!

        Watch what they do, not what they say. They are 100% liars. They are in nirvana. financial assets are headed to Uranus, and PMs and commodities are as a whole at 40+ year lows and flatlining at best. They have pulled of a masterclass.

        • On October 11, 2017 at 1:48 pm,
          Matthew says:

          There’s been no real tightening, Spanky. The Fed wants inflation because the system (debt-based Ponzi scheme) can’t survive without it.

          Interest rates went up throughout the 1970s and gold went up 25 fold at the same time. It’s the same this time, rates hikes have given us gold rallies.

          • On October 11, 2017 at 1:50 pm,
            spanky says:

            Yeah, I know they want inflation–and they have it. It’s just in the stock market right now. They have successfully directed liquidity into the stock market and away from other asset classes like commodities, thanks in large part to the BoJ and ECB.

          • On October 11, 2017 at 1:51 pm,
            Matthew says:

            It is everywhere but they get away with it because people have short memories are ignorant.

          • On October 11, 2017 at 1:52 pm,
            Matthew says:

            AND are ignorant.

        • On October 11, 2017 at 2:00 pm,
          Excelsior says:

          After 3 minuscule hikes they’ve barely even moved the needle on rates, but yes for years they’ve claimed they want 2% inflation. (but I’ll agree with you that they are 100% liars).

          They are hiking to give them some wiggle room when inflation does start to pick up (according to their metrics – as erroneous as they are). They’ll just end up cutting them again.

          As for “financial assets are headed to Uranus”…. (yes, they are getting a bit stinky)

          As for the “FED being in nirvana” – (I think you meant to say they are in a coma)

          As for them having “pulled off a masterclass” – (I think you meant engineered a fake market in response to a monster crash).

          As for commodities “Flatlining at best” what in the world are you smoking? since early 2016 Copper has been ratcheting higher and higher, Zinc has broken out to it’s highest level in years along with it’s companion metal Lead, Lithium & Cobalt have been soaring due to the interest in Battery Metals (and Manganese is right behind them), Palladium has broken out above Platinum to it’s highest level in years, Specialty metals like Niobium, Scandium, Vanadium, Tungsten, Neodymium, Dysprosium, etc.. are moving higher again, and yes even good old Gold & Silver have been moving higher since their major bottom in Dec of 2015.

          Does that sound like “flat-lining” to you?

          • On October 11, 2017 at 2:03 pm,
            spanky says:

            Nice way to cherry pick. Look at the unweighted commodity index (GCC) for the clearest picture of what is happening to the complex as a whole.

          • On October 11, 2017 at 2:44 pm,
            Excelsior says:

            Spanky – I follow what I invest in – (what a novel concept).

            Following the commodity index offers little value to individual mining stocks, so if I’m going to invest in Silver stocks, then I watch Silver. If I’m going to invest in Copper stocks then follow Copper. If I’m investing in Zinc stocks then I follow Zinc.

            As I already wrote you the last time you banged on about the GCC and CRB that they are very heavily weighted towards Oil/Gas and also include Soft Commodities that I have 0 interest in. I just don’t see using them or the TSX Venture Index is relevant to sector specific moves.

      • On October 11, 2017 at 1:46 pm,
        spanky says:

        Yellen knows damn well where the inflation is! It’s in the stock market!!! They can keep a lid on headline inflation by keeping a boot on commodities. Heck, falling commodities are great for real growth/productivity gains. The Fed is in total control.

    • On October 11, 2017 at 4:26 pm,
      Dick Tracy says:

      Spanky, you shouldn’t be talking about bending over, even if it is The Fed bending over for The BOJ. LOL! DT

  3. On October 11, 2017 at 12:17 pm,
    JohnK says:

    Somebody just stepped up and purchased a 100,000 shares of Carlin Gold,who has a JV with Barrick and waiting for the results of a holes they drilled a mile deep.
    http://stockcharts.com/h-sc/ui?s=CGD.V

  4. On October 11, 2017 at 12:22 pm,
    Matthew says:

    SLV needs to finish the week just above the current level:

    http://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=4&mn=2&dy=0&id=p08496250180&a=515155278

  5. On October 11, 2017 at 12:39 pm,
    Matthew says:

    Like I said this morning, I think GDX will reach 27-27.50 this quarter on its way to 38 in the first half of next year.

    http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=5&dy=13&id=p34805230075&a=549619228

    • On October 11, 2017 at 1:30 pm,
      spanky says:

      Your timing is extremely hopeful IMO.

      • On October 11, 2017 at 1:56 pm,
        Matthew says:

        Such calls always seem hopeful at a low but this sector moves quickly once a low is recognized.

    • On October 11, 2017 at 1:33 pm,
      spanky says:

      I’ll stick by my call of GDX hitting the lower monthly BB before the upper BB. Now, it could very well stay rangebound until the bands are extremely tight (tighter than now).

  6. On October 11, 2017 at 12:46 pm,
    olderman says:

    Off topic – Cory: You introduced us to Lexagene Holdings (LXG). It’s had a pretty good week so far now pushing on all-time high. Maybe another update would be appropriate?

    • On October 11, 2017 at 3:26 pm,
      Cory says:

      Good call olderman! I will reach out to Daryl for an update. They should be getting close to releasing their device for testing… This also might have happened. I’ll ask Daryl about it.

  7. On October 11, 2017 at 12:52 pm,
    Matthew says:
  8. On October 11, 2017 at 1:36 pm,
    spanky says:

    Another spike high close in the US indexes and the yen hasn’t even broken down yet.

  9. On October 11, 2017 at 1:37 pm,
    Markedtofuture says:

    John Kaiser talks Australian Gold Stories Including Novo Resources with Allan Barry Laboucan October 11, 2017
    |

    You’ve reached the page for the live and recorded version of the interview with John Kaiser.

    In addition to going deep into the Novo Resources (NVO.V) story, we also will discuss some of the others in the area.

    Join us at 1:30 PM PST, for the live broadcast.

    https://www.allanbarryreports.com/single-post/2017/10/11/John-Kaiser-talks-Australian-Gold-Stories-Including-Novo-Resources-NVOV

  10. On October 11, 2017 at 2:09 pm,
    spanky says:

    PCE Core relative to PCE deflator would suggest that commodities are going lower.

    http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/10/09/20171011_FOMC6.jpg

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