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The US Market Selloff Intensifies and Metals Pushed Down As Well

Cory
March 1, 2018

Criag Hemke from TFMetalsReport joins me to first focus on the US market selloff which has escalated in the past could hours. We also look at the metals complex which is also selling off but at least the stocks are holding up decently. We debate the sentiment for the metals and if it could actually get worse.

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Click here to visit Craig’s site for more metals focused commentary.

Discussion
50 Comments
    Mar 01, 2018 01:41 AM

    GDXJ just turned positive while the Dow is down over two percent. So much for the views of the countless people who were sure the two sectors would go down together.

    GDXJ:DIA daily:

    http://stockcharts.com/h-sc/ui?s=GDXJ%3ADIA&p=D&yr=0&mn=7&dy=9&id=p16620380414

      Mar 01, 2018 01:24 PM

      Don’t put any money into bitcoin that you can’t afford to lose. But I don’t think we should ban it — the green bills in your pocket don’t have an intrinsic value, either. The value is based on what others think is its value. That’s true of any currency. Regulation should be focused on good disclosure, education, warding off fraud, and making sure it is not used for illicit activities. Let the market figure out what it’s worth. That is what it is doing now.

        Mar 01, 2018 01:25 PM

        OOTB,
        She should have said: Don’t put any money that you can buy everything with, to buy a crypto currency (that’s not a currency) which you can buy nothing with (except other crypto currencies that you can buy nothing with)

          Mar 01, 2018 01:50 PM

          green bills in your pocket don’t have an intrinsic value, either……..KEY WORDS….

            Mar 01, 2018 01:22 PM

            The block chain is going to commodities that will back up currencies. Remember, Bitcoin and the rest are not currencies.

            Bitcion started out as a “virtual currency” (virtual being, not reality) and then the name crypto became secret and somehow almost sexy. Of course, anything that goes up in value that fast is sexy…

        Mar 01, 2018 01:27 PM

        I don’t have much interest in buying the actual coins, but have no problem holding the largest crypto miner and letting them create new virgin coins and hold them in deep storage. More of a royalty co accumulation method, rather than just buying a coin and hoping it really goes up in value. It’s the same reason I like the leverage of metals miners over the underlying commodity.

        ________________________________________________________

        HIVE BLOCKCHAIN TECHNOLOGIES INC. (V-HIVE) (HVBTF)

        All Cashed Up and Raring to Go – PI Financial

        http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1d9h4mi-hive-mar01-18.pdf

          Mar 01, 2018 01:28 PM

          Crypto/blockchain world takes a breath as HIVE Blockchain (HIVE.V) releases full quarter results

          Chris Parry February 28, 2018

          https://equity.guru/2018/02/28/crypto-blockchain-world-takes-breath-hive-blockchain-hive-v-releases-full-quarter-results/

            Mar 02, 2018 02:51 PM

            Slamming the Door On Your Competition

            by @currencyfrontier on March 2, 2018

            “HIVE Blockchain Inc. (HIVE-TSXv) was very smart to go out and raise CAD$151 million from the capital markets in 2017 when cryptocurrency was in full mania.”

            “As they released their first REAL quarterly on March 1—with real revenue, almost $100 million cash on the balance sheet and fast rising revenues on the immediate horizon as they deploy that cash to get big fast, they showed the Market that crypto-mining is a real business.”

            “This quarterly really separates themselves from any public company competition…for the simple reason that the equity window—the ability of public crypto-companies to raise more money to expand—is now firmly shut.”

            https://ceo.ca/@currencyfrontier/slamming-the-door-on-your-competition

    Mar 01, 2018 01:26 PM

    Part of today’s selloff in the conventionals could be that some are considering the effects of a world trade war which trump is beginning today with steel and aluminum. jmo

      Mar 01, 2018 01:14 PM

      Yes, some part of it might be BUT this action is perfectly consistent with the topping process that started over a month ago.

      For example, here’s DIA (Dow):

      http://stockcharts.com/h-sc/ui?s=DIA&p=D&yr=1&mn=1&dy=22&id=p32540202952

      Mar 01, 2018 01:17 PM

      And here’s gold in 2011:

      http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&st=2010-02-01&en=2011-12-01&id=p40515447747

      Gold looked stronger/better in its topping process than the Dow does now yet we all know what happened.

      Mar 01, 2018 01:31 PM

      Of course his tariffs are a dumb idea, btw.

        Mar 01, 2018 01:57 PM

        Tariffs are a dumb idea? How so? Educate me please.

          Mar 01, 2018 01:28 PM

          Your education is your job and one you should value highly if your own well-being matters to you. There is a lot of material on the subject out there and you’ll find it if you are serious.

          However, I did find a short clip that is to the point and easy to understand:

          https://www.youtube.com/watch?v=7njIlZ2xYq0

          -So, are you for more liberty/less slavery?
          -Do you think those who want your money in return for a good or service should have to compete for it?
          -Do you believe that cooperation rather than coercion is more likely to result in win-win transactions and sustainable prosperity for all parties?
          -Do you agree that affordable, innovative, high quality products are the result of freedom and competition, not government favors and/or threats?

          If you answered yes to those questions, your beliefs are at odds with those who want tariffs.

            Mar 01, 2018 01:49 PM

            I watched the video and say yes to those questions, however the teriffs are different than the video and the questions.

            The reason for the tariffs are to create jobs in America. The countries that compete for those jobs have an undervalued currency and an inferior product resulting in a weaker America, structurally and economically.

            MAGA / America First

            Mar 01, 2018 01:43 PM

            In other words, you don’t get it.

          Mar 01, 2018 01:38 PM

          Tariffs just make you poorer. Leave it to Tom Woods to deal with the question in just a couple of minutes:

          https://www.youtube.com/watch?v=t31z2s_NZQg

            Mar 01, 2018 01:58 PM

            Here’s the cosmic joke, Matthew. Donald Trump is going to give the Mises institute and the Ron Paul peace and prosperity institute nothing to talk about. Cause he is ” actually DOING IT”.
            LOL

            Mar 01, 2018 01:37 PM

            Yes, that claim is a joke alright.

            Mar 02, 2018 02:31 AM

            That was a good point about the candlemakers demanding people block out the sun because it was giving away light to cheaply, as an analogy for the recent tariff
            discussions.

            I generally agree with Tom in most of his talks or written musings, but don’t think he summed up Ben Shapiro fairly. I actually think Ben has made a number of great points over the last few years on his podcasts or in interviews.

            Mar 02, 2018 02:36 AM

            Ben Shapiro gives detailed explanation of why Tariffs are bad economic policy
            (12-22-2016)

            https://www.youtube.com/watch?v=-fjjbkNrwmc

            Mar 02, 2018 02:59 AM

            It was just the opposite for me. I was glad to see someone finally call out Ben for his cognitive dissonance. Like 90% of the population, he often contradicts himself. Tom Woods is the consistent one and the scholar.

            Ben is pretty good most of the time so his weak spots stand out when they appear.

            Mar 02, 2018 02:21 AM

            I agree that Tom is a scholar, and I’m not Ben superfan or anything, but he is one of the few voices out there that has some common sense behind him. He goes on the mainstream media quite regularly to challenge the herd-think, and drops a number of truth bombs on liberal news outlets and ones that claim to be impartial which has some value IMO. Does he contradict himself from time to time… I’m sure it happens, but his responses on racism & gender politics, micro-agressions / trigger points, and the hypocrisy of comments from politicians on both the left and right are fairly consistent.

            Anyway, I thought the video with Tom was good as per usual.

            Mar 02, 2018 02:38 AM

            Yes, “he goes on the mainstream quite regularly” precisely because Tom is right. The MSM would have nothing to do with him if he wasn’t part neocon in some important ways. For one small example, Ben thinks the Vietnam war was a good idea.

            You say “I’m sure it happens” as if it’s not a big deal but it’s a huge deal to me and, apparently, to Tom.

            On all the idiotic SJW/race/gender trash, he’s much better.

      Mar 02, 2018 02:15 AM

      Gold Appeal is Growing as Trade and Currency Wars Materialize

      March 01, 2018 By John Kicklighter, DailyFX

      https://www.nasdaq.com/article/gold-appeal-is-growing-as-trade-and-currency-wars-materialize-cm929132

      Mar 01, 2018 01:15 PM

      So what is he buying: “I want to own commodities, hard assets, and cash.

        Mar 01, 2018 01:16 PM

        I THINK THE WORM HAS TURNED>>>>>>>

          Mar 01, 2018 01:31 PM

          I THINK THE KANGAROO HAS HOPPED BACKWARDS.

      Mar 01, 2018 01:54 PM

      Paul Tudor Jones: Own Commodities & Hard Assets, Avoid Stocks & Bonds

      by @Goldfinger on March 1, 2018

      “Legendary investor Paul Tudor Jones (PTF) offered a bullish view of commodities in a wide ranging, pointed interview with Goldman Sachs. He also made it clear that he is negative on bonds and certainly not a fan of stocks right now as the US engages in deficit spending to fund fiscal stimulus in a low interest rate environment. ”

      “PTJ compared the current policy actions in the U.S. to the late-1960s, when interest rates were low and the government enacted fiscal stimulus measures in order to stimulate the economy and help pay for the Vietnam War. There is a key difference between now and then; the economy isn’t in recession and the U.S. isn’t involved in a massive war effort. Jones believes that “we are setting the stage for accelerating inflation, just as we did in the late ’60s.”

      “If PTJ is correct we should see the CRB Index break-out above 200 over the coming weeks which should lead to a quick 15%-20% in major commodities:”

      https://ceo.ca/@goldfinger/paul-tudor-jones-own-commodities-hard-assets-avoid-stocks-bonds

    Mar 01, 2018 01:35 PM

    I think the dog is trying to figure out what day it is, so he knows if he can have it (
    or not)

    Mar 01, 2018 01:34 PM

    ARV: Granting of Elysian Tenements for Conglomerate Gold Two key exploration licences, E47/3443 and E47/3564 (61 Blocks), granted by DMIRS and which don’t form part of the Novo Resources Corp. JV. Contains the well known 47 Patch conglomerate hosted gold find, which has been chosen as the preferred site to conduct Artemis’ first large bulk sampling program of gold bearing conglomerates.

    https://www.asx.com.au/asxpdf/20180302/pdf/43s3k19475xp0j.pdf

    Mar 01, 2018 01:38 PM

    Youtube is under ATTACK ! No more free talk Western World ! Love the electronic money system ???? Put Bankers in Prison ore you DEAD !

    b
    Mar 01, 2018 01:28 PM

    Try mentioning credit/debit cards and cash in a grocery line.
    Altho I see the occasional person use cash everyone I have mentioned it to has said they prefer digital, its so easy.

    We are going digital because thats what the people want.

      Mar 01, 2018 01:06 PM

      People have ( NOTHING TO WANT ! ) Slaves Obey the world satan Rulers EVIL is Coming and WEEPING and GNASHING of TEETH !!!! Hypocrites will be Burning in HELL ! Bankers you have it coming ! GOD is not mocked BANKERS !!!!

    Mar 02, 2018 02:46 AM

    (ABRA) (ABBRF)AbraPlata Announces Diablillos PEA Results with 30.2% IRR

    March 02, 2018 (GLOBE NEWSWIRE) —

    https://ceo.ca/@nasdaq/abraplata-announces-diablillos-pea-results-with-302

    Mar 02, 2018 02:50 AM

    (JAG) (JAGGF) Jaguar Mining Reports Updated 2017 Mineral Reserves and Mineral Resources
    March 2, 2018 /CNW/

    > Rodney Lamond, President and CEO of Jaguar Mining stated:

    “We have achieved solid growth in our mineral resources at our core gold production operations, Pilar and Turmalina mines. At Pilar, we replaced two years of mining depletion following a highly successful drilling campaign completed in 2017. Our continued investment in drilling has allowed us to maintain mineral reserves equivalent to over three years of reserve production mine life. Strong drilling results to date offer additional perspective and are impressive as we have significantly advanced the principal system containing Orebodies BA, BF and BFII in a short period of time…”

    https://ceo.ca/@newswire/jaguar-mining-reports-updated-2017-mineral-reserves-fd751

    Mar 02, 2018 02:34 AM

    USDJPY at 105 now! It has been on a tear, yet silver and the miners are whimpering. What happens when yen takes a breather???

    Mar 02, 2018 02:52 AM

    SLV:GLD weekly chart put in two black candles back to back. It’s going down further in the weeks ahead, that is for sure. It’s possible the miners bottom ahead of this ratio, but who is going to take that bet?

    Mar 02, 2018 02:15 AM

    Silver won’t do anything as long as the stock market is selling off. It’s fallen and it can’t get back up.

    The CoTs are the only factor that suggests a total collapse in silver isn’t imminent.

    Mar 02, 2018 02:52 AM

    SLV precisely filled its December 22 gap yesterday and acted very bullishly afterward:

    http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=5&dy=9&id=p00445743602