Exclusive KE Report Commentary – Tue 12 Feb, 2019

Are Market New Highs Coming Before New Lows

I am happy to introduce a new guest to the show Joel Elconin. Joel co-hosts the Benzinga Pre-Market Show with Dennis Dick. As this is the first time having Joel on the show we stick to some high level comments on the state of the US markets and the current earnings season. We also look at the general weakness globally and how that continues to pull money into the US markets.

To checkout the Benzinga Pre-Market show click here.

  1. On February 12, 2019 at 10:48 am,
    Dick Tracy says:

    Gold is the only real form of money, Americans need to see this. I would much sooner see gold being transported to The US, that would be a much greater barometer of the state of The US economy than fiat money flowing into US markets.

  2. On February 12, 2019 at 11:50 am,
    Scott says:

    Everything is fake………you have 50-70 million American’s living pay check to pay check but the economy is great…….you have homeless rates in the millions but the economy is doing great you have dozens and dozens of companies lowering guidance and cutting estimates but the economy is doing great you have the united states basically bankrupt but the economy is doing great…………..i could go on and on

    • On February 12, 2019 at 12:36 pm,
      OOTB Jerry says:

      Ditto on EVERYTHING IS FAKE………..

      • On February 12, 2019 at 12:37 pm,
        OOTB Jerry says:

        The entire World is Bankrupt……….Japan going on 20 yrs. at Zero interest rate….

        • On February 12, 2019 at 12:39 pm,
          OOTB Jerry says:

          If, Japan can go for 20 yrs…….so can the FAKE USofA……..If, the World does not break the Central Banking System…..everyone is Toast…if, they owe fake Debt.

    • On February 12, 2019 at 1:33 pm,
      spanky says:

      This has been going on for 10 years. Welcome to reality, finally.

      Buy some gold miners and lose some money along with the rest of us.

      • On February 12, 2019 at 9:07 pm,
        Ebolan says:

        But no matter what happens the MIC wins…

        Pentagon Seeks Massive Increase for ‘Slush Fund’ War Account

  3. On February 12, 2019 at 1:04 pm,
    Dick Tracy says:

    If Mueller fails to indict Trump, the public will not be willing to listen to politicians using the red scare as a means of fear mongering in the future. That will be a much welcome change.

    • On February 12, 2019 at 1:09 pm,
      Dick Tracy says:

      At least that should eliminate the fake Red scare. Bolshevism is not coming to America ever and The Democratic platform of socialism will be a gift to the Trump re-election platform.

      • On February 12, 2019 at 1:16 pm,
        OOTB Jerry says:


  4. On February 12, 2019 at 1:16 pm,
    OOTB Jerry says:

    Oh my Omar…….Trump got your tongue , junior league congress little person for a foreign land…..with little to no respect…..jmo https://www.zerohedge.com/news/2019-02-12/trump-calls-rep-omar-resign-conservatives-fume-over-democrat-double-standards

    • On February 12, 2019 at 1:18 pm,
      OOTB Jerry says:

      “What Congresswoman Omar said is so deep rooted in her heart, that her lame apology wasn’t appropriate. She should resign from Congress.”
      -President Trump

      • On February 12, 2019 at 1:19 pm,
        OOTB Jerry says:

        Freedom of speech………not freedom of hate…..get along or get out……..jmo

        • On February 12, 2019 at 1:23 pm,
          OOTB Jerry says:

          Good that some Dems have condemned the disgraceful anti-Semitic remarks of Rep. Omar—but their words are empty unless Dem leaders remove her from the Foreign Affairs Committee. No one with her anti-Semitic views should be allowed to represent US foreign policy on that committee.

          • On February 12, 2019 at 1:24 pm,
            OOTB Jerry says:

            While some have defended Rep. Omar’s right to criticize Israeli money in US politics,

          • On February 12, 2019 at 1:25 pm,
            OOTB Jerry says:

            I think she should question the money part………..jmo
            Why does Israel need $700 Billion of tax payers money…..just wondering…. 🙂

  5. On February 12, 2019 at 4:38 pm,
    Matthew says:

    Stewart nails it: “The current US government plan to reverse its insane debt growth with tariff taxes, a single corporate tax cut, a few regulatory red tape chops, no more rate hikes, and a border wall… is like trying to stop Niagara Falls by throwing a few popsicle sticks into the water.”

    • On February 13, 2019 at 7:41 am,
      OOTB Jerry says:

      There are some nice charts included in above post…….thanks………
      Good point, also, on the support zone…making no difference at 1280 or 1306

    • On February 13, 2019 at 8:17 am,
      spanky says:

      But Beezelbub said “Deficits don’t matter.” He’s got way more cred than Stewie.

      • On February 13, 2019 at 8:26 am,
        Matthew says:

        Debt is not quite the same as deficit. Anyone who might say that the debt doesn’t matter should obviously be ignored.

        • On February 13, 2019 at 8:32 am,
          OOTB Jerry says:


  6. On February 12, 2019 at 5:12 pm,
    Matthew says:

    This bull flag looks very good but GDX could drop 5% quickly if it doesn’t activate:

    • On February 13, 2019 at 8:22 am,
      spanky says:

      GDX looks textbook perfect in terms of cloud structure and MAs.

      It’s silver and silver miners, and the broader commodity complex, that concern me.

      FOFOA said that gold would crush silver (along with every other commodity) during the endgame. While I am obviously not of that mind, his rationale can’t just be blown off either.

      • On February 13, 2019 at 8:38 am,
        Matthew says:

        Who/what is FOFOA?

        We have no “endgame” to compare to so FOFOA’s guessing is probably based on his interpretation of the 1930s. I will gladly take the other side as the current situation is very different is key ways.

        • On February 13, 2019 at 8:41 am,
          Matthew says:

          This reminds me of the time I positioned myself opposite of one very confident Bob Hoye in the summer of 2010. Not only was he wrong, he was shocked that he was wrong and shocked by what the Fed announced in Jackson Hole that year. The “deflationists” simply don’t get it.

        • On February 13, 2019 at 8:44 am,
          spanky says:
          • On February 13, 2019 at 8:47 am,
            Matthew says:


          • On February 13, 2019 at 8:56 am,
            Matthew says:

            I have to point out that I do not expect silver to blow away gold anytime soon. The next 2010-11 is years away. Silver is still very likely to outperform gold, just not nearly to the same degree. So the next significant top for the metals might happen with the GSR reaching no lower than 55 and maybe more like 60-65. It is currently above 80. The 2011 top happened with a GSR of about 30.

          • On February 13, 2019 at 9:17 am,
            spanky says:

            That’s very surprising to hear from you re: GSR TBH. I would have assumed you would have though GSR was going to make a new low, certainly lower that what was hit in 2010.

            If you truly believe that GSR won’t even get below 55, then I have a very hard time understanding why you would even bother speculating in individual silver miners, most of which are located in very risky political jurisdictions. On a risk-adjusted basis it wouldn’t make any sense at all to me. You could lower your risk massively by just speculating in gold juniors and explorers and even add a bit of margin to close the gap.

          • On February 13, 2019 at 9:34 am,
            Matthew says:

            I know what you are saying and I would probably focus more heavily on the gold stocks if I were less sure of my outlook. Still, a move to a GSR of 60 represents silver beating gold by about 35%. Considering the AISC of the silver miners and the fact that the real price of both metals is much higher now than when they traded at the same levels almost ten years ago, that 35% will result in a very worthwhile performance in the silver juniors when compared to most of their gold counterparts.

            The GSR fell only 24% (to 64) in 2016 yet SILJ went up 110% versus GDXJ. My top three positions that year averaged over 1,000% and all were silver stocks.

          • On February 13, 2019 at 9:46 am,
            Matthew says:

            The GSR exceeded its 2016 high late last year and silver reached its 2016 low yet the silver stocks (as represented by SIL and SILJ) did not come close to testing their 2016 lows. This is a very positive divergence that tells us something about what to expect when the next bull move gets going.
            SILJ is a buy versus GDXJ following the SILJ:GDXJ parabolic drop into its recent low…

  7. On February 12, 2019 at 9:10 pm,
    Ebolan says:

    Our good friends the Israeliars…Jew bastards…

    Pro-Israel Lobby Caught on Tape Boasting That Its Money Influences Washington

    Get back to work tax serfs…someone’s gotta pay for those bastard Israeliars and it’s YOU.

    • On February 13, 2019 at 7:45 am,
      OOTB Jerry says:

      Ebo……..do not worry about those guys…..depart from wickedness in high places…
      If, you are worried about taxes, ….find some tax loop holes, ….there are plenty if , you look………….JMO

      • On February 13, 2019 at 7:47 am,
        OOTB Jerry says:

        Read ….Rich Dad Poor Dad……by Richard Kiosaiki..(sp)

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