Chris Temple from The National Investor – Wed 13 Mar, 2019

Just How Powerful Is The Powell Put?

Chris Temple joins me to weigh in on Jerome Powell’s interview with 60 Minutes over the weekend. Powell, who Chris argues has turned political like all of his predecessors, has driven home the fact that the Fed is worried about the markets and will not hesitate to jump in and save them. Listen in to find out just how weird the market reaction has been.

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Comments:
  1. On March 13, 2019 at 5:26 pm,
    OOTB Jerry says:
  2. On March 13, 2019 at 5:27 pm,
    OOTB Jerry says:

    Certain facts have become obvious to anyone with any sense over the past year. First, as the Federal Reserve began tightening stimulus policies by raising interest rates and cutting assets from their balance sheet, the global economy began to return to steep declines not seen since the credit crisis. I predicted this outcome in my article ‘Party While You Can – Central Bank Ready To Pop The Everything Bubble’, published in January of 2018. The plunge has started in almost every sector of the economy, from housing, to autos to credit markets to retail. Now, even jobs, numbers which are highly manipulated to the upside, are beginning to falter.

  3. On March 13, 2019 at 5:27 pm,
    OOTB Jerry says:

    The assertion in the mainstream media is that this recessionary downturn is new. This is not the case. What began in 2008 was an epic implosion of multiple national economies, and what we are seeing in 2019 is the final culmination of that process – The end game.

    It is not a coincidence that the downturn started right after the Fed began tightening stimulus measures in 2017. With only a minor increase in interest rates and moderate cuts to their balance sheet, all the conditions the economy suffered in 2008 are suddenly returning. What this tells us is that the US economy and parts of the global economy cannot survive without constant and ever expanding central bank stimulus.

  4. On March 13, 2019 at 5:28 pm,
    OOTB Jerry says:

    Does this mean that central banks will try to keep QE going forever? No, it does not. So far, the Fed has not capitulated at all from the path of tightening. In fact, the Fed nearly doubled its normal balance sheet cuts from January 30th to the end of February, dumping over $65 billion in a 30 day period. The Fed also has not changed its dot plot projections for two more interest rate hikes this year. This means all the talk the past two months of the Fed going “dovish” was nonsense. Setting aside their rhetoric and looking at their actions, the Fed has been as hawkish as ever.

    The only people who might find this to be news are most stock market daytraders, who ignore all other failing indicators and seem content to base their economic projections on equities alone. Set aside the fact that stocks plunged in December into near bear market territory. The bounce in January and February has convinced them that the Fed is stepping in and will not allow the economy to tank. But the “plunge protection team” is about to pull the rug out from under their feet after training them like Pavlovian dogs to salivate at the sound of the word “accommodation”

  5. On March 13, 2019 at 5:29 pm,
    OOTB Jerry says:

    Their mindset is based on a host of incorrect assumptions.

    To be clear, while the Fed paid lip service to “accommodation” in their public statements, it was not the central bank that stepped in monetarily to stall falling stocks. That was actually the Chinese central bank, pumping billions in stimulus into global markets at just the right moment.

    Chinese stimulus coupled with pension fund buying at the start of this year saved stocks from losses beyond 20%, but markets have met resistance on the way up. Without renewed stimulus measures from the Fed, equities have topped out multiple times and refuse to move towards their previous highs. This suggests that the two month bounce is over, and that stocks will now fall back down to December lows and beyond. If the projections I made in January are correct, then the Dow will fall into the 17,000 – 18,000 point range from the end of March through April.

  6. On March 13, 2019 at 5:30 pm,
    OOTB Jerry says:

    The facade is slowly but surely melting away, not just in economics, but everywhere. I predicted both the success of the Brexit vote as well as Trump’s win in 2016 based on the theory that the globalists would allow or even help populists to gain a political foothold, only to crash the economic system on their heads and then blame them for the disaster. So far my theory is proving correct.

    Trump’s trade war continues unabated despite claims by many that it would be over quickly. Currently, there are no plans for a March summit between Trump and Xi, and the possibility of a summit anytime soon has come into question as Trump’s negotiations with North Korea fell to shambles last month. The negotiations are a farce and are not meant to succeed. I continue to hold to my position that the trade war is a planned distraction and that Trump is playing a role in a globalist scripted drama.

    The facade of Donald Trump as a “populist candidate” is quickly ending. His cabinet is loaded with think-tank ghouls and banking elites, so this should come as little surprise. But there are still some analysts out there that naively believe that Trump is playing “4D chess” and that he is not the pied piper he now appears to be. What I see is a president that claimed during his campaign that he would “drain the swamp” of elites, then stacked his cabinet with some of the worst elites in Washington D.C. What I see is a president who argued against Fed stimulus measures and the fake stock market during his campaign, and who now has attached himself to the stock market so completely that any crash will now be blamed on him no matter the facts. What I see is a willing scapegoat; a president that is going to fail on purpose.

    • On March 13, 2019 at 6:17 pm,
      larry says:

      OOTB nice analysis…It does seem correct….November 3, 2020 is about 20 months away…Seems like one would want to crash the markets very near the election to block Trump as a fall guy…..No idea but just saying…I actually think Trump is best served if the markets have their 4 year cycle low here and now soon….That allows a reset and rally into the elections…Only G-d knows and she ain’t talking…Good luck all….

      • On March 13, 2019 at 6:36 pm,
        OOTB Jerry says:

        Larry….thanks….but, the above was all written by the guy at zero hedge….(at top of page)…..I think the article is indeed a great summary and thought of what is planned by the FRAUD BANKSTERs

  7. On March 13, 2019 at 6:26 pm,
    Charles says:

    Good thoughts OOTB. I can’t say I disagree with your analysis. Ever since the crash in 2008/09 I have been working to understand what was going on. When the Fed went to QE and interest rates kept getting lower and lower I knew something was not right. I was too busy before then to really focus on the macro. Since I have been following it has just gotten crazier and crazier.

    • On March 13, 2019 at 6:46 pm,
      OOTB Jerry says:

      Hello Charles…….see my note above to Larry…..I would like to take credit for the above, but, a gentleman at zerohedge wrote the article….and I think it is excellent….JMO
      and thanks for reading it , glad to share.

      • On March 13, 2019 at 6:54 pm,
        OOTB Jerry says:

        Charles and Larry……..you guys might want to go and finish reading the article….some really interesting points in the article which I did not post……

  8. On March 13, 2019 at 7:24 pm,
    larry says:

    No troubles at all…i scan this stuff fast….I appreciate you posting it…OOTB

  9. On March 14, 2019 at 12:01 am,
    Excelsior says:

    Haywood Securities – Positioning Your Portfolio For A Nuclear Decade

    March 1, 2019

    https://clients.haywood.com/uploadfiles/secured_reports/UXMar12019.pdf

    • On March 14, 2019 at 12:05 am,
      Excelsior says:

      Haywood #Uranium Playbook – Quant Rankings Table:

      https://mobile.twitter.com/SNS5500/status/1104477853477978112

      • On March 14, 2019 at 12:51 am,
        Excelsior says:

        Upon further reflection, that list from Haywood above is not that great.

        Some of the more prominent Uranium companies like Energy Fuels, Ur-Energy, UEC, Cameco, Denison, Nexgen, Fission, etc… are on it and the quants look correct on those, but there are some companies listed that don’t even have meaningful Uranium reserves or projects, and other notable companies like Paladin, Anfield Energy, Appia, ALX, etc… that aren’t even listed (??).

        I’m not sure why so many pundits and commentators struggle to put together a list of the Uranium companies. We here crap like there are only a dozen companies or 20 companies and garbage like that all the time from well respected resource investors that clearly have not done their homework.

        • On March 14, 2019 at 12:54 am,
          Excelsior says:

          This list of companies with at least some meaningful Uranium projects may not be perfect, but it’s way better than most of the lists I see from funds and pundit mouth pieces parading around as professional analysts.

          Uranium Stocks

          A-CAP RESOURCES
          ALIGATOR ENERGY LTD
          ALX URANIUM CORP
          ANFIELD ENERGY INC
          APPIA ENERGY CORP
          ATOM ENERGY INC
          AURA ENERGY LTD
          AZARGA URANIUM CORP
          AZINCOURT URANIUM INC
          BANNERMAN RESOURCES LTD
          BELMONT RESOURCES
          BERKELEY ENERGY LTD
          BLUE SKY URANIUM CORPORATION
          BOSS RESOURCES LTD
          CAMECO CORPORATION
          CANALASKA URANIUM LTD
          CANEX ENERGY CORP
          CENTRUS ENERGY CORP
          CLEAN COMMODITIES CORP
          DEEP YELLOW LTD
          DENISON MINES CORPORATION
          ECLIPSE METALS LTD
          ENERGY FUELS INC
          ENERGY RESOURCES OF AUSTRALIA LTD
          ENCORE ENERGY CORP
          EROS RESOURCES CORPORATION
          FISSION 3.0 CORP
          FISSION URANIUM CORPORATION
          FORSYS METALS CORPORATION
          FORUM URANIUM CORPORATION
          GEIGER COUNTER LTD
          GLOBAL ATOMIC CORP
          GLOBAL X URANIUM ETF
          GREENLAND MINERALS
          GOVIEX URANIUM INC
          ISOENERGY LTD
          KHAN RESOURCES INC
          LARAMIDE RESOURCES LTD
          LIGHTBRIDGE CORP
          MARENCIA ENERGY LTD
          MAWSON RESOURCES LTD
          MEGA URANIUM LTD
          MESA EXPLORATION COR
          MKANGO RESOURCES LTD
          NEXGEN ENERGY LTD
          NORTHERN URANIUM CORP
          NX URANIUM INC
          ORANO
          PACIFIC BAY MINERALS LTD
          PALADIN ENERGY LTD
          PENINSULA ENERGY LTD
          PLATEAU URANIUM INC
          POWER METALS CORP
          PUREPOINT URANIUM GROUP INC
          ROUGHRIDER EXPLORATION LTD
          SENATOR MINERALS INC
          SKYHARBOUR RESOURCES LTD
          STRATECO RESOURCES INC
          SUMMIT RESOURCES LTD
          THUNDERLARRA LTD
          TORO ENERGY LIMITED
          U308 CORP
          UEX CORPORATION
          URANIUM ENERGY CORPORATION
          URANIUM PARTICIPATION CORPORATION
          URAVAN MINERALS INC
          UR-ENERGY INC
          VALORE METALS
          VANECK VECTORS URANIUM & NUCLEAR ENERGY
          VIMY RESOURCES LTD
          WESTERN URANIUM & VANADIUM CORP
          WESTWATER RESOURCES INC

          >> If anyone can think of any companies not on this list with meaningful Uranium deposits or projects or JVs, please list them below. Cheers!

          • On March 14, 2019 at 5:50 am,
            Charles says:

            Hi Ex – With such a long list, it would be great to know your favorites. I like the following in no particular order:

            ANFIELD ENERGY INC.
            CANALASKA URANIUM LTD
            DENISON MINES CORPORATION
            ENERGY FUELS INC
            GOVIEX URANIUM INC
            NEXGEN ENERGY LTD
            URANIUM ENERGY CORPORATION
            UR-ENERGY INC
            WESTERN URANIUM & VANADIUM CORP

            I am currently invested in Energy Fuels, but have invested in the past in Dennison and UR-Energy Inc.

          • On March 16, 2019 at 2:47 am,
            Excelsior says:

            ENERGY FUELS INC
            UR-ENERGY INC
            URANIUM ENERGY CORPORATION
            DENISON MINES CORPORATION
            NEXGEN ENERGY LTD
            ANFIELD ENERGY INC.
            PENINSULA ENERGY LTD
            AZARGA URANIUM CORP
            PUREPOINT URANIUM GROUP INC
            UEX CORPORATION
            ALX URANIUM CORP

            > and for nuclear fuels companies:

            CENTRUS ENERGY CORP
            LIGHTBRIDGE CORP

      • On March 14, 2019 at 1:06 am,
        Excelsior says:

        Trump’s Energy Budget Makes Coal and Nuclear a Priority Over renewables

        by John Siciliano – March 11, 2019

        “We are requesting $2.3 billion to secure energy independence, to fund innovations for more affordable, viable and efficient energy sources, such as new nuclear and fossil energy investments,” said a senior Energy Department official on a call with reporters.

        “The administration it committed to “revitalizing” the U.S. nuclear industry, with the hope that Congress will expand the nuclear energy sector by supporting the president’s spending request for advanced nuclear technologies.”

        https://www.washingtonexaminer.com/policy/energy/trumps-energy-budget-makes-coal-and-nuclear-a-priority-over-renewables

    • On March 14, 2019 at 12:57 am,
      Excelsior says:

      (AEC) (ANLDF) Anfield Closes Transaction With Cotter To Significantly Expand Its Uranium And Vanadium Portfolio

      by @nasdaq on March 1, 2019

      Anfield’s CEO, Corey Dias, commented: “We are excited to close this transformational transaction. We now look forward to creating both an ISR uranium mine-and-mill complex in Wyoming – underpinned by our resin processing agreement with Uranium One – and a conventional uranium and vanadium mine-and-mill complex – underpinned by Anfield’s Shootaring Canyon mill – within Utah and Colorado. As uranium and vanadium markets continue to trend upwards, buoyed by burgeoning demand and declining supply, we are now even better-positioned for production at the appropriate time”.

      http://anfieldenergy.com/anfield-closes-transaction-with-cotter-to-significantly-expand-its-uranium-and-vanadium-portfolio/

      • On March 14, 2019 at 12:59 am,
        Excelsior says:

        (AEC) (ANLDF) Issues a Letter to Shareholders Outlining Its Plans for 2019 and Its View on the Uranium Market

        March 04, 2019

        “In 2019, global trends with regard to nuclear power are positive, with China pushing to increase its capacity in the near term. Challenges remain, however: the low uranium spot and term prices do not incentivize current or future uranium production – as shown via the shuttering of mines by a number of uranium producers worldwide – while the continued reluctance of US utilities to enter the long-term uranium market means that there seems to be no near-term path to an increase in pricing. Nevertheless, it is important to note that there remains a shortfall of uranium in the global market today. Primary supply cannot meet current demand, and secondary supply continues to dwindle. Utility contracts are not being renewed, which has left uncovered demand of greater than 75%. It is clear that the current market position is not sustainable.”

        http://anfieldenergy.com/anfield-issues-a-letter-to-shareholders-outlining-its-plans-for-2019-and-its-view-on-the-uranium-market/

  10. On March 14, 2019 at 1:29 am,
    Excelsior says:

    Alex Molyneux – Uranium Will Continue to Climb Higher

    by @PalisadeRadio on March 12, 2019

    https://ceo.ca/@palisaderadio/alex-molyneux-uranium-will-continue-to-climb-higher

  11. On March 14, 2019 at 6:47 am,
    Charles says:

    Energy Fuels Issues Letter to Shareholders

    LAKEWOOD, CO, March 14, 2019 /PRNewswire/ – Energy Fuels Inc. (NYSE American: UUUU; TSX: EFR) (“Energy Fuels” or the “Company”), a leading producer of uranium and vanadium in the United States, is pleased to present the following Letter to Shareholders from President and Chief Executive Officer (“CEO”) Mark S. Chalmers:

    Dear Fellow Shareholders:

    Well, a full year has gone by since my first shareholder letter as President and Chief Executive Officer of Energy Fuels. The past year has been very exciting for the Company, and I believe we achieved a number of significant milestones as we continue to pursue our strategy of building Energy Fuels into a uranium mining and energy company of major global significance. Moreover, on behalf of the Board of Directors and my Management Team, I thank you for your continued support of Energy Fuels.

    Last year in my letter to shareholders, I introduced a light-hearted phase: “Energy Fuels might be small, but we’re mighty!” I ended my letter with a goal to report that we would be “larger and mightier” in 2019. I am pleased to report to you that I believe the Company has made significant strides in this regard, despite a continued difficult uranium market.

    In this year’s letter, I wish to introduce another light-hearted phrase I routinely use around the office: “Energy Fuels punches above its weight!” In addition to thinking big and pursuing great goals, we seek challenges and opportunities that many larger organizations would only hope to achieve. I want all of our shareholders to understand that, working as a team, our competitive spirit drives us to always be the very best we can be, creating shareholder value wherever we can find it, regardless of what challenges come before us.

    Make no mistake about it, our primary focus remains – and always will be – large-scale, profitable uranium production. All of our activities support this focus. We continue to maintain our industry-leading uranium production capabilities, including licensed and permitted projects that we believe can resume and increase production quicker and on a greater scale than any of our peers in an environment of improving uranium market fundamentals, and hopefully the successful conclusion of our efforts supporting the ongoing Section 232 investigation into uranium imports into the U.S.

    So let me get started on some of our major accomplishments over the past year and provide some insight into our thinking for 2019:

    Leading U.S. Uranium Producer: In 2018, Energy Fuels remained the largest U.S. producer of uranium having produced 917,000 pounds of U3O8 from a combination of production from our Nichols Ranchin situ recovery project in Wyoming and from our White Mesa Mill in Utah. We decreased uranium production in 2018 in order to conserve cash and in-ground resources, and our uranium production in 2019 will decrease further, because we expect vanadium production to supplant uranium production at the White Mesa Mill. We expect to temporarily focus on vanadium production, because significant cash flow from vanadium may be available to us for as long as vanadium prices remain strong. But, as I stated above, Energy Fuels’ primary focus is uranium, and everything we do supports this focus – including vanadium production.Stronger Balance Sheet and Share Performance: In May 2018, Energy Fuels qualified for inclusion on the Russell 3000 Index. This allowed the Company to experience a several-fold increase in share liquidity. This, along with the significant catalysts ahead of us, also put the Company ‘on the radar’ of a number of larger funds. Another benefit to being included on the Russell indices is that the Company was able to raise funds through our at-the-market facility during the annual rebalance at a very cheap cost of capital. As a result, we were able to repay, in full, all our Wyoming Industrial Development bonds totaling $8.7 million and save significant interest expense. During the rebalance period, our strategies significantly strengthened the Company’s balance sheet to one of the best in the sector, while at the same time our share price outperformed our peers.Bolstering U.S. National Security: In January 2018, Energy Fuels and Ur Energy co-petitioned the U.S. Department of Commerce (DOC) under Section 232 of the Trade Expansion Act of 1962, asking them to look into the threat of increasing quantities of uranium being imported into the U.S. from state-owned and state-subsidized enterprises in Russia, Kazakhstan, Uzbekistan, and China. In July 2018 the DOC initiated the investigation. We are seeking a remedy which will limit imports into the U.S., effectively reserving 25% of the U.S nuclear market for U.S. uranium producers. It is the Company’s belief that a report will be delivered to the President of the United States in mid-April 2019. The President will then have up to 90 days to adjust trade, if he sees fit. While there is no guarantee of the outcome of this initiative, we feel our position is extremely compelling, and that the President can protect U.S. national security by helping to support the domestic uranium mining industry at a negligible cost.Capturing the Vanadium Opportunity: The possibility of Energy Fuels resuming vanadium production was introduced in my past shareholder letter. Vanadium is a mineral used in high-strength steel, titanium and other alloys, in the chemical industry, and in batteries used in renewable energy systems. During 2018, vanadium prices rose dramatically, reaching a peak near $29 per pound. Today, the price remains strong at over $17 per pound. Thanks to the excellent technical work of our talented and dedicated staff at the White Mesa Mill, the team tested and designed an innovative means to recover the substantial solubilized inventory of vanadium contained in our tailings solutions. Late in 2018 and into early 2019, this system was commissioned and is now performing exceptionally well, producing commercial quantities of very high quality V2O5 with an average purity of 99.6%. Assuming vanadium price strength continues, we estimate we can recover approximately four million pounds of V2O5 during 2019 and 2020. This has the potential to generate significant revenues and cash flows for the Company during the next two years that we intend to reinvest toward further strengthening our industry-leading uranium capabilities. In addition, the Company embarked on a test mining campaign at our La Sal mine complex to determine if certain vanadium ores can be more selectively mined to capture higher vanadium grades by using modern “real-time” analytical equipment. While final results are still pending, I am happy to note that significant improvements in grade-control have been observed, which have the strong potential to improve the economics of these uranium/vanadium mines in the future.Steady Alternate Feed Material Business: Our alternate feed recycling business, which has been a mainstay for the Company during periods of low uranium prices, continued to contribute materially to Energy Fuels’ bottom line. We collected approximately $7 million in fees (or uranium value equivalent) during 2018, and we recovered 424,000 pounds of uranium for third parties during the year. As a point of reference, this program effectively recycled a years’ worth of fuel for a nuclear reactor. Due to our focus on vanadium recovery, we do not expect to earn any alternate feed revenue in 2019. However, we continue to pursue multiple opportunities, and this remains an important part of our business plan over the long-term.Abandoned Uranium Mine Opportunity: We continued to advance the potential for Energy Fuels to participate in the clean-up of Cold War era abandoned uranium mines. We offer the U.S. government one of the most cost-effective and ‘shovel ready’ solutions for this cleanup. As of the writing of this letter, the EPA has collected approximately $1.7 billion in trust from various parties to pay for the cleanup of these abandoned mines. While the Company has not obtained any of this work to date, our White Mesa Mill is in an excellent position to assist with these cleanups, while also recycling the cleanup material to recover uranium. As a company which values sustainability, and responsible cradle-to-grave principles, this opportunity remains a high priority for us looking to the future.
    Lastly, in addition to the initiatives mentioned above, Energy Fuels continues to seek other sources of revenue, cost-cutting measures, and catalysts, which will support our uranium production over the long term.

    With 2019 off to a quick and exciting start, we reflect proudly on 2018 when we believe we took major steps forward toward achieving our objective of being “larger and mightier” than the year before. While Rome was not built in a day, or even a year, we are passionate about seeking – and realizing – shareholder value and sustainability in every possible way.

    • On March 14, 2019 at 8:27 am,
      Excelsior says:

      Nice letter from the Energy Fuels boss and many great macro points delivered.

  12. On March 14, 2019 at 7:20 am,
    larry says:

    Nugt missed my stop by 5 pennies….so far….I want to stay with gold but you know…..some terrible fundementals with housing etc….that is deflationary…but interest rates are going down and bonds rising…..so dollar should weaken…crosscurrents?!..lol

  13. On March 14, 2019 at 7:24 am,
    larry says:

    If markets want to roll it would be here…Weekly Tom Demark 9 count…Weak volume and technicals…..Broken record i know , sorry

  14. On March 14, 2019 at 7:33 am,
    larry says:

    gold has done its first ab=cd up on the one minute chart…constructive…

  15. On March 14, 2019 at 7:48 am,
    Silverdollar says:

    Chris Martinson has some similar thoughts on the Fed: https://www.youtube.com/watch?v=b7m430TSKfo

  16. On March 14, 2019 at 7:56 am,
    larry says:

    UUP…..300 minute and daily have technical sells signals…..Volume past 3 days strong to downside…..could easily crack down here and now to goose gold

  17. On March 14, 2019 at 7:58 am,
    Matthew says:

    GDX and the XAU have filled their 3/12 gaps while GDXJ and the HUI have only partly filled theirs. I am buying several of my juniors today.

    • On March 14, 2019 at 8:08 am,
      larry says:

      Good eye Matthew…I cannot argue against adding here even if just a test of old highs….individual issues is way to go…but i like the indexes….good luck traders

      • On March 14, 2019 at 8:12 am,
        larry says:

        NEm on 2hour chart is also testing its gap and braekout bar of 3/12 on way lighter volumes…..looks like a test of suppoirt and a buying op…good luck

        • On March 14, 2019 at 8:20 am,
          Matthew says:

          JNUG found support right at the 200 MA on the 10 min chart while GDXJ is holding up a little better so far due to 600 EMA support (which probably won’t hold).

        • On March 14, 2019 at 8:22 am,
          Matthew says:

          That 3/8 gap is a big one!

  18. On March 14, 2019 at 8:24 am,
    Charles says:

    I have been buying a few juniors today also.

  19. On March 14, 2019 at 8:26 am,
    CFS says:
  20. On March 14, 2019 at 8:33 am,
    CFS says:

    Stock Options expirary tumorrow.

    affects gold price?

    • On March 14, 2019 at 9:23 am,
      Charles says:

      Thanks for posting Ex. Doesn’t Golden Valley own a portion of RZZ? I thought you previously mentioned they own a 45% interest correct?

  21. On March 14, 2019 at 8:43 am,
    Matthew says:

    GLD dropped to its 50 MA on the 60 min chart after reaching the 200 MA yesterday.

    • On March 14, 2019 at 9:41 am,
      larry says:

      GLD is helpful…5 minute chart shows low on340k shares retested on 54k shares!…..That should be the bottom or worst of this blowout…..buyers get cheap ones now?…lol

      • On March 14, 2019 at 9:55 am,
        larry says:

        /GC did a perfect .618 retracement of the run from 3/7……technically nothing is really wrong yet….AB=CD upside target would now be for 1:1 ,1323

  22. On March 14, 2019 at 9:59 am,
    Charles says:

    Hey guys – trying to follow along. Larry what is GC?

    • On March 14, 2019 at 10:18 am,
      larry says:

      Charles…/GC is the gold futures contract…it runs almost 24/7 and as such provides more data points for analysis than say gld does…i prefer options as the core and etf’s as derivations from the basis instrument…sorry

      • On March 14, 2019 at 10:23 am,
        larry says:

        Charles i ment to say…i prefer futures as the core…….i did not mean options…

        • On March 14, 2019 at 10:46 am,
          Charles says:

          Thanks Larry. I assume you are talking about the continuous contract ($GOLD on StockCharts). I look at $GOLD frequently along with GLD as a proxy.

  23. On March 14, 2019 at 10:04 am,
    larry says:

    Preakness…Running of the stops!

  24. On March 14, 2019 at 10:06 am,
    larry says:

    If /Es closes weak today a flush tommor would not shock me…in spxs…under a bit…not stressed…i see topping signals

  25. On March 14, 2019 at 10:34 am,
    larry says:

    it sure would be nice to see the gold miners decouple from the general equities markets…and outperform period…we await this

  26. On March 14, 2019 at 10:57 am,
    larry says:

    The way uup is structured on daily and intraday charts…IT is possible that this is an inside day of distribution inside a new downtrend…just saying

  27. On March 14, 2019 at 11:07 am,
    larry says:

    http://tos.mx/65MbiM
    first attempt to post chart….120 minute /GC showing .618 retracement and the 30 minute chart is beginning to recover now

  28. On March 14, 2019 at 11:20 am,
    OOTB Jerry says:

    CONGRESS…..gets 80% of their pay when they retire….with only 5 yrs in office….
    Retirement…$175,000per year for life,….and they can collect it starting at 62yrs.old
    https://www.zerohedge.com/news/2019-03-14/one-thing-congress-gets-right-funding-their-own-pensions

  29. On March 14, 2019 at 11:22 am,
    OOTB Jerry says:

    But did you know the taxpayer also foots the bill for insane retirement benefits for Congress?

    Each retired member can start collecting a pension at age 62 if they’ve spent just five years in Congress.

    And they’ll collect 80% of their $174,000 annual salary.

    That’s almost $140,000 a year, for the rest of their lives… for five years of service.

    Correction……

  30. On March 14, 2019 at 11:24 am,
    OOTB Jerry says:

    SCUM………
    They say it’s not fair that while the poor get poorer, Congress gets richer.

    The median American household net worth declined .94% per year from 2004 to 2012. And over the same period, 100 members of Congress watched their net worth gain 114% per year.

    Members of Congress added $316.5 million to their net worth during this time period.

    (But it wasn’t the Socialists in Congress who introduced the bill to address this wealth gap. They’re happy to ignore this prime example of the rich literally stealing from the poor.)

    Getting rich at the taxpayers’ expense, collecting a salary 3x the median household income, and getting a six-figure lifetime pension…

    That’s Congress’ reward for sinking the US government $22 trillion in debt… for creating debt bubbles in housing and student loans… for utterly failing to address a broken Social Security system… for wasting billions on things like a broken Obamacare website, defending Congressmen from sexual assaultlawsuits… and fighting like children during a government shutdown while millions of Americans were out of work.

  31. On March 14, 2019 at 11:31 am,
    OOTB Jerry says:

    Sorry I find this more important than a few mining stocks….bouncing up and down, with no end in sight…….Rigged game…..with the CFTC, CRIMEX and JPM…..nothing has changed.
    Where is that Trumper……END THE FED…..LOL.
    No wonder Paul….didn’t do anything to upset Washington ….vested with $140,000 retirement package for LIFE, do not cause any waves….or you will get booted, but who cares after 5 yrs…You are GOLDEN……….
    RANT OF THE DAY…………………. 🙂

    • On March 14, 2019 at 11:36 am,
      larry says:

      OOTB…makes me walk around talkin to myself….used to be people earned far less for the privaledge of working at government jobs…now the government is shilling the public full time….sorry….

      eventually America will cave from the liberal majority voting in socialism…

      • On March 14, 2019 at 11:40 am,
        OOTB Jerry says:

        THE NATION IS TOAST….
        Take God out of the equation and all bets are off……..

    • On March 14, 2019 at 1:20 pm,
      Matthew says:

      Jerry, there’s probably not a crooked bone in RP’s body. Don’t you remember that he rejected his retirement and called it immoral?

      https://theplanetprisoner.wordpress.com/2012/04/12/ron-paul-refuses-to-participate-in-immoral-pension-system/

      • On March 14, 2019 at 1:23 pm,
        OOTB Jerry says:

        No, I forgot that one……….Ok…….I will retract my statement……thanks for the reminder…

        • On March 14, 2019 at 1:31 pm,
          OOTB Jerry says:

          OK….I am back liking Ron P…….if, I owe him an apology …I apology for any statements that might be harmful and any character assassination .

  32. On March 14, 2019 at 11:33 am,
    larry says:

    is this a normal sucker punch for gold miner longs…prior to a time period when gap ups rather than gap downs are the new normal?…we shall see…

    • On March 14, 2019 at 11:55 am,
      OOTB Jerry says:

      Get use to it………this has been the format for years…….JMO

  33. On March 14, 2019 at 12:03 pm,
    OOTB Jerry says:
    • On March 14, 2019 at 12:05 pm,
      OOTB Jerry says:

      The Senate has voted to block President Trump’s emergency declaration for southern border wall construction funding by a margin of 59-41.

  34. On March 14, 2019 at 1:13 pm,
    OOTB Jerry says:

    Ultimately, a dozen Republicans joined Senate Democrats in supporting the House-passed resolution of disapproval: Lamar Alexander of Tennessee, Roy Blunt of Missouri, Susan Collins of Maine, Mike Lee of Utah, Lisa Murkowski of Alaska, Rob Portman of Ohio, Mitt Romney of Utah, Marco Rubio of Florida, Patrick J. Toomey of Pennsylvania, Rand Paul of Kentucky, Roger Wicker of Mississippi, and Mr. Moran.
    SCUM BAG LISt>>>>>>>>>>>>>>

  35. On March 15, 2019 at 7:48 am,
    larry says:

    GDX…no volume behind this little pop…right now does not look good to retest the intermediatte highs at 23.70 area…at all…certainly no buying urgency

    • On March 15, 2019 at 8:22 am,
      Matthew says:

      The lack of volume could be due to the big gap up this morning. Let’s see what happens after it’s filled.

      • On March 15, 2019 at 8:26 am,
        Matthew says:

        And it has now been filled to the penny.

        • On March 15, 2019 at 10:42 am,
          larry says:

          GDX right now is below the point of control TAS number of 22.26…That means the bottom of the box at 21.58 comes into play next….not bullish for daily time frame…Also gold up .58% and gdx barley holding on and diverging negatively

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