Recapping the markets this week

October 13, 2017

Doc and I recap the markets in terms of gold, gold stocks and the USD. We also address the consumer confidence numbers that are at levels not seen in 13 years. What does this mean for the markets? We think not a whole lot.

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    Oct 13, 2017 13:13 AM

    Gradual move up in the metals is what you want. Flash in the pan UP rallies come down as fast as they went up.

    Keep a close look on COT’s to determine short term direction. If huge build on short side…..consolidation we come. If not much change we continue higher.

    good luck.

    gold shares…acting pathetic imo.

      Oct 13, 2017 13:26 PM

      Guaranteed the short position was built up bigtime this week. Gold is at best stuck in a triangle IMO. On the final plunge before the triangle breaks out, the CoT commercials will reduce their short position disproportionately. This could take months to play out. Meanwhile the stock market will continue moonward.

        Oct 13, 2017 13:30 PM

        CoTs commercial shorts actually went down slightly in gold this week and up a bit in silver.

    Oct 13, 2017 13:14 AM

    What I Told Corporate Investors about “Weak” Gold Demand—and How They Reacted

    By Jeff Clark, Senior Precious Metals Analyst, GoldSilver … 10-10-2017

    Oct 13, 2017 13:18 AM

    Dang, all this talk about Bollinger bands reminds me I got to get the bands on my tranny adjusted. And that would be my truck, not Caitlyn Jenner.

      Oct 13, 2017 13:24 AM

      Funny. Bollinger didn’t do it for me. I keep hearing MACD and makes me think of a quarter pounder with cheese.

        Oct 13, 2017 13:25 AM

        Pulp Fiction | ‘Royale w/ Cheese’ – John Travolta, Samuel L. Jackson

          Oct 13, 2017 13:31 AM

          MACD (Moving Average Convergence/Divergence Oscillator)

          Developed by Gerald Appel in the late seventies, the Moving Average Convergence/Divergence oscillator (MACD) is one of the simplest and most effective momentum indicators available. The MACD turns two trend-following indicators, moving averages, into a momentum oscillator by subtracting the longer moving average from the shorter moving average. As a result, the MACD offers the best of both worlds: trend following and momentum. The MACD fluctuates above and below the zero line as the moving averages converge, cross and diverge. Traders can look for signal line crossovers, centerline crossovers and divergences to generate signals. Because the MACD is unbounded, it is not particularly useful for identifying overbought and oversold levels.

          Note: MACD can be pronounced as either “Mac-Dee” or “M-A-C-D.”

        Oct 13, 2017 13:20 PM

        Glad you thought it was amusing but if the left has its way in Commiefornia I could be arrested for hate speech for saying that.

        Heck, if they had their way even thinking that would be classified as a thought crime.

    Oct 13, 2017 13:30 AM

    Bayhorse Renews Drilling Silver Project, Kellogg, Idaho, USA
    Posted on Oct 11, 2017

    Oct 13, 2017 13:13 PM

    Very large swing upwards in the commodity complex the last two weeks. FWIW. Again, if this was a sustainable move (i.e., the beginning of the second phase of a supposed new bull) the miners should be reacting way better than what they have. More likely this is just going to end up churning for 6 months too. Just my cynical 2 cents.

    Oct 13, 2017 13:10 PM

    FWIW, I found it interesting how spot prices climbed a couple bucks just prior to the close of today’s markets.

    Oct 13, 2017 13:15 PM

    Doc, are you going to the Indiana-Michigan game? Those Hoosiers are planning a big upset.
    What do your technicals tell you? Will IU beat the spread?

      Oct 13, 2017 13:48 PM

      Pick Mi

        Oct 13, 2017 13:35 PM

        IU…..does not pay the coach $8million a year ether…………. 🙂

        Oct 14, 2017 14:56 AM

        But will Indiana beat the spread?
        Astros2-Yankees 1

    Oct 13, 2017 13:13 PM

    Bitcoin $5622.73
    Ethereum $338.81
    Ripple $ .2592
    Bitcoin Cash $317.
    ” I’m not going to talk about Bitcoin any more” Jamie Dimon

    Oct 13, 2017 13:16 PM

    Time for another Dinosaur Parade.
    Guess who’s aboard the Apatosaurus this week?

    Oct 13, 2017 13:54 PM

    Sun Valley gold dumping Sabina?

      Oct 13, 2017 13:57 PM

      After this sale, they are no longer considered and insider.Sun Valley Gold LLC:

      Disposition of Common Shares of Sabina Gold & Silver Corp.
      2:55PM ET on Tuesday Oct 10, 2017 by GlobeNewswire

      Sun Valley Gold LLC (“Sun Valley”) announced today that it has disposed of an aggregate of 1,250,000 common shares (“Common Shares”) of Sabina Gold & Silver Corp. (“Sabina Gold & Silver”) for and on behalf of client accounts over which it has discretionary trading authority. The Common Shares were sold over the facilities of the TSX Venture Exchange for $2.20 per share.

      Following the disposition, Sun Valley exercises control and direction over an aggregate of 21,488,836 Common Shares for and on behalf of client accounts. The Common Shares over which Sun Valley exercises control and direction for and on behalf of client accounts represent approximately 9.51% of the issued and outstanding Common Shares. Because Sun Valley now exercises control and direction over less than 10% of the issued and outstanding Common Shares, it is no longer subject to ongoing early warning or insider reporting requirements in respect of its ownership of Common Shares.

      Sun Valley sold the Common Shares as part of its overall portfolio investment strategy. Sun Valley Fund may increase or decrease its ownership of securities of Sabina Gold & Silver depending upon future market conditions.

    Oct 13, 2017 13:57 PM

    Kaiser on Aussies, including Novo

      Oct 13, 2017 13:02 PM

      I had to give Mr Kaiser and his assistant the BOOT.
      Always complaining about the U.S.

    Oct 13, 2017 13:26 PM

    Break up this, “Will gold break out or not” tension with a real life story and gold as the hero. I just finished a book about my distant relative who started the Cincinnati Conservatory of Music. Here is the paragraph from the book I thought interesting.
    “In the summer of 1914, When Bertha Baur’s regime was well in it second year, she was beginning to show the strain of unrelieved responsibility. Her family concerned for her health, urged her to go abroad for a well-earned rest. Late in July, after the close of the summer school, she sailed for Europe. While she was vacationing in St. Moritz, Austria declared war on Serbia. She was staying in the same hotel where a score of Austrian army officers were spending a few days’ leave. On July 21, they received orders to report at once for mobilization, and advised Miss Baur to leave immediately, since there was little hope that the war with Serbia would remain localized. She left on the same train the officers took to Vienna. From Vienna she went to Hamburg, where she had a reservation on the S.S. Imperator. As she was preparing to go aboard, however, it was announced that no passenger ships would be allowed to sail. To complete an already distressing situation, her supply of gold was almost exhausted, and paper money was unacceptable. She was unable to obtain lodging because the hotels would not take her hundred-franc note. As she sat in the Lobby of the hotel wondering what to do, a German gentleman asked her if he could be of assistance. She explained her predicament, showing him the hundred-franc note. Without question he supplied her with the equivalent in gold. Later, recalling the incident, Miss Baur said; “I had never seen the man before, but his conduct was typical of all foreigners I met after the trouble began”. End of paragraph. Interesting.

      Oct 13, 2017 13:58 PM

      Interesting story clutchdog. I was a student in the CCM myself. Small world.

        Oct 13, 2017 13:25 PM

        I lasted one semester at Berklee School Of Music in Boston.

          Oct 13, 2017 13:42 PM

          Real world experience is far more valuable. Learning is doing.

    Oct 13, 2017 13:09 PM

    Ross Beaty – Video Interview
    The Hard Assets Alliance

    “You can’t print it, you can’t burn it, it is beautiful, it’s magic” {Gold}

    “Serially successful mine finder, geologist, and precious metals entrepreneur Ross Beaty talks about what brought him into the mining business, why gold and silver have timeless value (unlike other currency types), and how to determine if the gold price is going to go up.”