Chris Temple from The National Investor – Thu 3 Jan, 2019

US Markets Falling, A Flash Crash In Currencies, and Weak ISM Numbers

All the factors mentioned above are pushing down US markets however there are a number of sectors that are performing well. Chris Temple joins me today to share his insights on why China is such an important story for the overall heath of the markets.

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Chris TempleCory Fleck
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  1. On January 3, 2019 at 9:35 am,
    Matthew says:

    The miners can add significantly to their gains before having a meaningful pullback. The RSI(14) for GDX is not close to overbought:

  2. On January 3, 2019 at 9:38 am,
    Matthew says:

    The dollar has a long ways to fall:

  3. On January 3, 2019 at 9:53 am,
    Bonzo Barzini says:

    Matthew, I’m thinking I should’ve bought SLB@35 a couple of days ago. Do you think oil has bottomed? NGD looks to me like it has bottomed.

    • On January 3, 2019 at 10:05 am,
      Matthew says:

      Bonzo, yes, I think oil has bottomed – and NGD too…

      • On January 3, 2019 at 10:06 am,
        Matthew says:
      • On January 3, 2019 at 10:10 am,
        Bonzo Barzini says:

        Thanks, Matthew. Doc thought oil would drop to 40, but if it has bottomed we will wish we had bought SLB and SU last week. But if trader Vic is right about a bear market coming we may see SLB back@35 or lower in a crash. And silver stocks may do a lot better than oils.

        • On January 3, 2019 at 10:44 am,
          Matthew says:

          Doc could still be right about oil to $40. The daily chart points to A low but not necessarily THE low. The weekly chart still needs to improve significantly before I can say objectively that $40 is unlikely. A falling dollar should help oil here so there should be at least a decent bounce even if it is going lower.
          Silver stocks should do far better than oil stocks.

          • On January 3, 2019 at 10:47 am,
            Matthew says:

            I should have said: “The weekly chart still needs to improve significantly before I can say objectively that $40 is out of the question.” Because I do think it is unlikely.

          • On January 3, 2019 at 12:49 pm,
            Matthew says:

            Captainwave agrees with me about a big bounce here but is then looking for a retest of the 2016 low:

          • On January 3, 2019 at 12:58 pm,
            Bonzo Barzini says:

            Captainwave’s oil chart is instructional. Think I’ll wait on buying any oils till oil is under $30, as I already have plenty of them with huge capital gains. Think I’d rather buy tobacco stocks yielding over 8% or silver.

          • On January 3, 2019 at 12:59 pm,
            Matthew says:

            I like his silver chart:

            I don’t know if his target will be reached this year but I do think silver will take out the 2016 high before the year is over.

          • On January 3, 2019 at 1:06 pm,
            Matthew says:

            It will be great for the gold miners if he’s right but I doubt it will get there.

          • On January 3, 2019 at 1:07 pm,
            Matthew says:

            Talking about oil in the last comment.

          • On January 3, 2019 at 1:09 pm,
            Bonzo Barzini says:

            I expect silver will go above 50 in 3 years.

          • On January 3, 2019 at 1:43 pm,
            Matthew says:

            It will end the bull market way beyond $50.
            It’s been a long time since we’ve seen a quarterly MACD buy signal and that’s what’s coming…

  4. On January 3, 2019 at 9:53 am,
    Matthew says:

    IPT breakout:

    • On January 3, 2019 at 11:06 am,
      spanky says:

      looks like a pretty nasty reversal candle now.

    • On January 3, 2019 at 11:09 am,
      spanky says:

      Someone stepped in and sold it hard (heavy volume today).

      • On January 3, 2019 at 11:26 am,
        Matthew says:

        The selling started right after hitting .35 — the exercise price of the new warrants. I’ve seen such warrant “resistance” get sold many times. There’s probably some top-calling going on, too.

        • On January 3, 2019 at 12:24 pm,
          spanky says:

          Note the black candle on the IPT weekly chart from a coupe of weeks ago. A close below .29 this week will clear it out, and it will have a clean looking chart on both the daily and weekly charts off the low.

          • On January 3, 2019 at 12:29 pm,
            spanky says:

            AXU has a black candle on the weekly chart from a few weeks ago too. It hasn’t left behind a black candle since the 2016 low. I’m hoping this time is different, but I’ll bet it closes below .79 at some point in the next few months. I’m not selling, but that candle is disappointing after such a thrashing.

          • On January 3, 2019 at 12:31 pm,
            Matthew says:

            I’m glad to see so much demand at almost 50% above the late November low. Today’s VWAP with 921,000 traded, is .29 and change…

          • On January 3, 2019 at 12:35 pm,
            spanky says:

            Not a fan of the black candles in this sector as you know. Call it paranoia or whatever. I would be a buyer on any weakness in IPT from here, even today.

          • On January 3, 2019 at 12:38 pm,
            Matthew says:

            If anyone is wondering, I sold less than one-sixth of 1% of my position at .3175 this morning.

          • On January 3, 2019 at 12:40 pm,
            Matthew says:

            That was for rebalancing purposes.

  5. On January 3, 2019 at 10:01 am,
    Matthew says:

    GDXJ double bottom:

  6. On January 3, 2019 at 10:13 am,
    CFS says:
    • On January 3, 2019 at 1:49 pm,
      snowbird says:

      I was going to watch the video and in the first minute the host is referencing his appearance on Fox News. I didn’t have to go any further. What part of the FOX news agenda don’t you get?

      • On January 3, 2019 at 1:53 pm,
        snowbird says:

        Just think shiny object and monkey.

  7. On January 3, 2019 at 11:58 am,
    snowbird says:

    The analogy I’ll use is that of my Doctor. I don’t believe in Physical therapy, but I’m going to send you anyway.
    Xi has come out and stated that Taiwan must be re-united with China. This I don’t think can be ignored. During the 08 fiasco I learned that when China catches a colds everybody gets sick. This just lends more credence to the statement that Markets and Politics aren’t connected and need to be viewed as such.

  8. On January 4, 2019 at 8:47 am,
    Bonzo Barzini says:

    I agree that Taiwan should be part of China, just as soon as the Marxist tyrants are overthrown in Red China and truly free elections are held.