Are we in a full on panic stage for the metals markets?
Jordan Roy-Byrne joined me to share his thoughts on the rush for cash in the markets that has also hit the metals and metals stocks. We look at where GDX and GDXJ stand in terms of support levels. The biggest question deals with when a good time will be to re-enter the metals stocks.
Click here to visit Jordan’s site and keep up to date on his metals outlook.
This interview was recorded late in the day yesterday.
A squirrel got into the underground bus at the stock exchange and shorted two phases. LOL! DT
So far it is shaping up to be a frightful day!
Thank heavens I sold my COP @48 last week as it is 29 now! And yesterday I sold my DGMLF@ .14 I bought it @.09 and watched it fall to .02 before it shot up to .17 last month. Now I have some cash to buy the amazing bargains out there. My portfolio is melting…
Minnesota Star and Tribune. March 112020
FDA stops inspections of overseas plants.
The Food and Drug Administration on Thursday halted nearly all inspections of overseas plants that ship drugs, medical devices and other consumer goods to the U.S, citing the spread of the coronavirus.
This is troubling as I remember when China was busted sending us farm raised fish with high lead content.To get around, China sent the fish to Canada and was brought in from there.
There is no way……..that any american should buy anything chinese at this stage of the game……of course the chinese, got the virus from the Gates Foundation…..
Believe it or not, some of the most toxic farm raised fish comes from Norway.
Monsanto, once again the culprit
Good point……….Monsanto with the laced soy bean……..I think you can thank Reagan and Carter for that one…….
And speaking of those not so brilliant Japanese, they have surpassed China as the largest purchaser of U S Debt. What could go wrong?
Fish everywhere…….is toxic………FUKI took care of that…….
The chemicals are in the feed (bait fish). They are used to keep the fat from going rancid.
Not regulated.
I was the Uranium stock genius after the summit in Vegas.Only to be humbled watching FUKI blow up on the T.V.
Last I read…….FUKI is still leaking…….that was about 3 months ago, I think….
Another Brain Dead : Back up generators below sea level next to the ocean. What could go wrong?
LOL…….. 🙂 Not funny , but, what a joke……pay back for WW2…..
And now Japan has surpassed China as the largest purchaser of U S Debt.
What could go wrong?
China produces the raw components that go into drugs manufactured in The US and elsewhere. That means if you are in need of medication you better make sure you stock up ASAP.
THe US DRUG INDUSTRY……..needs to be temporarily nationalized at this point……..plenty of good drug companies in the USA……..Lilly….Roche.
Of course this is now a state of emergency……
China can no longer be trusted for anything…..
Made in the USA……return to full employment…….at LIVING WAGE…..should be the DEMAND…..No politician should be re elected at this stage, they are ALL corrupt.
China can no longer be trusted?
I remind you, Israel and the U.S. are the biggest terrorists in the world, thank the bank of England for the debt.
The americans are placing nukes in Poland aimed at Russia.
There is no longer time to determine if a launch is an error, whats Russia going to do should a blip happen on their radar screens?
Whats the priority?
b……..go back and do some history lesson on opium…1877….., china is just getting us back……or maybe, just getting england, pilgrim society back…..same characters in play, as then……but, overall fake jews have been behind it for centuries, so, then the fake jews, get paid back……
the controllers have been in charge for centuries……Act of 1871…….
Again……china , is going to stick a fork in your eye…….and they just did, in directly.
Did you ever put in any contaminated dry wall a few years ago, from china…..lol
It, is not the americans……it is the nazi….under ww2…..kissinger group………since 1947., ……but, kissy is a fake jew…..I think….lol
I told you a few weeks ago……..Gates created the virus……and the chinese are now aware of that fact, ….I am sure…..Gates is a mad man……and his group…just so happens to wants total control of all info from the us govt…and every citizen in the us…..
OOTB: I didn’t use any of the Chinese drywall, but a sh*tload od it was hung in the Twin Cities Metro. The black mold problem was so bad that the MN Legislature raised the warranty period on Spec houses from two years to ten. The Insurance rates blew me out of the water and I had to get out the Trade I had just spent 25 years learning.
of
opium wars,drywall,1871 or gates.
Nothing will end this like a nuke at Russia.
Prioritize, what kills people fastest.
I agree 100% the Jewish influence needs to be dealt with, so do the other issues, but the U.S. under the direction of Israel is pushing for war big time and now they have brought nukes into play.
All issues are secondary to american tactical nukes in Poland.
Seriously, these Christians for Israel are insane, course maybe they look forward to an armageddon.
Iran is now attacking american troops in Iraq, the americans have pushed China,Russia,Iran, and a host of other nations by their warmongering for profit to the point the world isnt going to put up with it anymore.
And the american people sleep or worse, like mr m believes, killing children allows people their freedom, they actually believe that.
Maybe unfair to suggest only americans sleep tho, so do the cdns,ozzys,brits etc.
oh well, hope gold goes up. 😉
First……….if, you want to stop the killing…….expose the source……in the usa…..
which is the CIA.of 1947…..real simple………until people figure that out……..wars will continue.
Everyone wants to peck around the edge, without understanding the total problem.
Cut off the MONEY…..LIKE END THE FED, no money and war will stop.
This is not the beginning of a washout, is it?
What do ya think Matthew? Did it hit speed line support yet?
Bitcoin down 25%, today.
Are the banks nationalized yet………..REPO at $198 Billion…..
If you weren’t a fraudulent “chartster” you’d know the answer to that.
https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=5&dy=0&id=p37991639928&a=726659079
Yesterday’s low for GDXJ was precisely at speed line support…
https://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=5&dy=0&id=p26837606441&a=726660097
GDXJ really sold off hard today down over 25% . What a day!
I have hit the lowest low of the last 10 years in my miners, after 4 or 5 lowest lows of the same period. They always seem to happen when I am thinking “maybe this break-out is for real”. I wouldn’t mind so much if I hadn’t been watching the eleven year 45 degree walk up in the General Markets for no apparent reason.
Agreed David. This is the worst rout I remember in the miners and is far worse than anything seen in the last decade.
I luckily participated in the 11 year, 45 degree walk up in the general markets, but that doesn’t make the recent carnage any more enjoyable, and doesn’t change the tsunami of selling in the miners since the end of February.
This is truly an UGLY market.
Yeah I saw that Bitcoin was down 25% today. So much for it being a Safe Haven 😉
DO NOT FORGET KIDDIES……….TOMORROW………COMEX IS CLOSED …..CME closed for FRIDAY THE 13th……(I posted that yesterday)…Hummmmmm
Wonder if they had advanced notice …..by Jamie and Co……
Forget metals markets, we are in a full-on panic in every market just about. Sell everything! Sorry guys but Im gonna say it, silvers done for the interim unless somethong miraculous happens in the next 24 hours. Its encountering bear-market territory again in the midst of this bloodbath. The relentless take down over the last 2 weeks shows how weak it was during the often noted muted moves when gold was climbing. Speaking of, its got its own issues but should hold ok with its safe haven alternative status in the near term. Bitcoin- crash, oil- crash, palladium- crash, PMs juniors- crash, general markets- wanting to crash. Hold tight everyone!
Oz………like you said………Hold tight………relax……everyone in the stock market knew this could happen…….Bitcon, what a joke……..palladium has been extreme for years…
oil is a con game since 1909……History is just being made , and those who are unaware of history are being taken to the wood shed……….JMO
And GOLD IS THE FOUNDATION at the moment…….JMO
BTW………I do appreciate your thoughts……..IRON SHARPENING IRON……
Keeps us all hanging tight…. 🙂
Gold is now testing its upper quarterly Bollinger Band. It had to fall a long ways to get down to it which shows just how strong it has been.
Hope it continues to be strong……….what are your thoughts today……thanks….Jootb
or maybe , we should wait for closing……
I think the miners are way overdone unless gold is about to drop another $200 but either way, I think the miners are close to a big bounce and will finally lead rather than lag gold when the next move up begins.
The bullish big picture has not been negated but many of those who like to use portfolio margin have no doubt suffered extreme damage. I almost never borrow to buy juniors, especially the tiny caps on the TSX-V. As an aside, I’ve noticed that the volume in most tiny caps during these recent big down days has been pretty low so it is likely dumb money bailing out at this point.
BBB, for example, is down over 20% today on volume that doesn’t come close to matching my position. I bought more.
Thanks for the info………..appreciate………I think you are correct….JMO
The Dow should bounce from just under 20,000…
https://stockcharts.com/h-sc/ui?s=%24INDU&p=W&yr=6&mn=6&dy=0&id=p53968672583&a=726667863
This is not good; the conventional markets were at first impressed a little with the ‘Fed’s “shock and awe” announcement and then yawned and moved back down.
I’m with Doc on this call. Batten down the hatches & wait for rubble
$DOW, $SP500, $NASDAQ all down 9.5% today
$OIL down 6% today
$Gold down 4.4% today
$Silver down 6.5% today
$SILJ down 18% today
$GDXJ down 25% today
$Bitcoin down 26% today
$VIX up 40% today
“Bring out your dead…”
JNUG down 61%
Miners making a new multiyear low compared to gold this week.
If this plays out like the last 30 years, the 2016 high the miners made against gold will never get taken out.
To me bitcoin has never been a safe haven but just one big speculation. Gold is still and always has been a safe haven. These markets have put a scare into people that have never seen anything like this. Global debt is beyond comprehension with the amount of derivative positions massive. The Fed hit the markets with “shock and awe” and the market laughed. Some of the shale people are already running to the government. Can you imagine what is happening with public pension funds and what that means going forward? Then think about how corporate earnings are going to turn out this year and government revenues are going to suck. That’s going to have to be dealt with after everyone and their brother comes to the government with hat in hand to have the government bail out a debt laden system. The government is going to have to involve itself in “japanification”. There is no way they aren’t going to avoid buying massive amounts of treasury bonds and S&P futures. Gold should sell off for awhile but it will probably be the one asset class that doesn’t take a complete drubbing. It’s too bad the “sell everything” mentality resulted in the sales of legitimate producing mines that in the future should spew off great cash flow. Low energy costs will also help a lot of these companies. Let the companies bottom out here and if you have cash select carefully those companies unduly taken to the woodshed and purchase over time.
Agreed Doc 100%. That was more a tongue-in-cheek comment from me about “so much for Bitcoin being a safe haven”, because some ding-dong was stating Gold was no longer a safe haven but he is a fanatic Bitcoin lover, and has claimed it was Gold 2.0 and a better safe haven multiple times.
I had responded back to him with this earlier in the day.
___________________________________________________________
“What are you talking about? $Gold went up significantly on on the missile strikes in Iran, on the Coronavirus fears, and the recent Oil rout and has absolutely acted as one of the #SafeHavens along with #Bonds during all this.”
“$Gold is down 3% today, where as $Bitcoin (which some claim is a #SafeHaven) is down 25%.”
Yep agreed as well Doc. Buying S&P futures sounds like its a mere formality now going off what im hearing. The variable is how much they buy into the market, but isnt this just going to give them increased control of the market and the economy by having private assets on their balance sheet?
I think people are finally realising how corrupt and broken the whole monetary system is and they are freaking out. To blame this on the coronavirus is abit short sighted and convenient. So many here have been saying its only a matter of time before the global economy goes belly up. Interest rates have been so low for over 10 years now, people have become accustomed to it and treat it as though it is the new norm. Subsequently these latest rate cuts around the world have done little to quell peoples worries in the market. If anything it has helped contribute to the panic. Theres little ammo left before the 0% rate is hit so now we resort to tax cuts, cash injections, stimulus packages, nationalisation and bail outs? Debt has become the only answer and fundamentally yes it has to be repaid someday, unless we engage in a total reset and write it all off. I fear this will happen as there is no other conceivable way out of this debt laden mess.
Oz, I think you are right on. The corona virus was just a convenient reason for this conventional market to get its’ come uppins. If we had a real economy, we wouldn’t see carnage like this as quickly as we’ve seen it.
If we didn’t have so many High Frequency Trading algo machines, it wouldn’t happen so quickly and steeply either.
Yes the Coronavirus and the Oil production/price/pissing contest was just the excuse the the general markets needed as a scapegoat to roll over and have a correction.
Cheers Doc. These are certainly interesting times to say the least. Theres plenty more bloodshed to be had on the markets. Coronavirus is looking more and more convenient by the hour.
ex, I would much rather own gold in this situation and we holders are going to be just fine since there are no longer any alternatives for the government and the Fed except print a ton of money. The next 5 years, IMO, are going to be great for those who own gold and eventually the miners even though it looks bleak now.
Doc:
I have already been chasing the corrupt transfer of wealth since 2001. I think soon I will be challenging the actuarial tables more than the corruption. I think it is time to stop banker wealth accumulation and get back to regulating.
The Regulators gonna regulate:
https://i.pinimg.com/originals/a4/85/54/a485541a9b369a37755ab047ab84523a.jpg
Yes, agreed 100% Doc.
This guy is a looser. He suppose to be a technician. I was a subscriber and he said buy the dips, hold on, but as technician never said that these stocks would be sold in crisis. Portfolio is down big.
Hope this isn’t some nutty coup type move for the Fed to buy the markets, bankrupt the people, suspend all activity, declare marshal law and announce the new fascist state. That would be really depressing.
Bankster puppet FDR made the great depression much worse to vastly expand the powers of the federal government and consolidate the banking sector. Close to 10,000 banks failed in the 1930s.
“When the President signs this act [Federal Reserve Act of 1913], the invisible government by the money power — proven to exist by the Monetary Trust Investigation — will be legalized. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.”
~ Charles A. Lindbergh, Sr.
This time, I think it’s safe to say that more liberties will be lost while the supranational bankers grab a lot more power.
Great comment but, effectively, nothing but whining.
Stating the facts is whining? Really?
Yup. Talk is always cheap.
The ‘old man’ and his colleagues
could have stopped it, but failed to.
Little blood then means torrents some day.
Now?
That old man tried and lost his grandson for it. Waking the masses brings change without a drop of blood being shed. Why do you think so much effort is spent on cradle to grave indoctrination from every single angle you can think of? Here’s why:
https://thatgirlisfunny2.com/wp-content/uploads/2021/01/full-horse.jpg
That flimsy plastic chair is the bankers and that half-ton horse is the people. The ONLY problem is, the people are stupid so they don’t throw off the shackles that they don’t know exist. That’s the beginning and end of it. The bankers power would literally evaporate if enough people woke up since it is the people that carry out their wishes.
It would have been almost impossible for the likes of Lindbergh to enlighten the masses back then since the media was already owned/controlled by the bankers so appeals to colleagues was the focus. Of course those colleagues were mostly bought and paid for buffoons just like they are today.
Louis T. McFadden also tried and was killed for it (after being poisoned three different times).
Neither you nor I have any business expecting anyone to sacrifice everything for “the greater good.” That’s each individual’s decision to make.
Did you know that many sheeple actually wanted the Federal Reserve? The propaganda in the years leading up to it told them that it would protect them from the bankers and that the bankers were against the Federal Reserve Act. Sheeple will eat up anything so those who do speak out are risking a lot for virtually nothing.
100% Matthew.
The circuit breakers are popping, there must be a dead short in the system. Even the fuses backing up the markets panels have melted. DT