Now that he has recovered from last night’s circus, The Doctor is In!
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Given the job numbers, the domestic conventional markets are not, at least so far today, acting perhaps as some would have thought. The same scenario seems to hold true for precious metals. Doc comments.
Jim, I don’t have a blog of my own. Some of the followers through Al have my e-mail address and they will occasionally e-mail me personally with questions. If you have a question you want to ask me personally, you can e-mail Al and he can forward it to me. I also have one contributor to the blog site that communicates with me on Skype frequently and we converse back and forward on markets, charts, etc.
Off Topic:
I was listening to the BBC world news radio. They are talking about Mozambique business.
Every day, it exports 35,000 tonnes of coal just to China. In light of that FACT, what sense does Obama’s environmental policy make;? ( regardless of whether global warming is true or not.)
Chinese are just going to keep stoking coal……….and the American coal companies are going to go out of business, or export
Where was this major drop earlier Al???
Just before market open, from about 1092 to 1084.
The “failed attack” was when it spiked down from $1092.40 to $1083.40 and then reversed right back up to $1095.30. The take-down was a “failed attack” because it failed to break the July 24th low at $1076 (which would have triggered the sell-stops), and it never made it there. It came right when the markets were opening, like it has the last few weeks. No dice this try.
See the Gold chart below:
Doc, if oil is going down to mid 30s then surely that means oil resource stocks – you can tell what is coming next – such as RIG are going to follow it down?
Surely this bounce in RIG, which seems to have set off a bounce in some of the other rig companies, is merely short covering on the back of RIG’s good results this week? I read that 30% of the RIG float is short and, on normal market volume, that would take 2 weeks to work through.
But if oil goes to mid 30s then surely RIG, and all the other oil resource companies as well, have to go down as well?
Bob, I purchased RIG recently and will hold it as long as it doesn’t take out certain technicals. But you could be right about the oil resource companies. Also, some of the major resource companies still have further to fall in my opinion.
I think RIG is a good longterm bet. Whilst oil may go down into the 30s I doubt that it will be there long.
Rig is one of the oil stocks I want to own at the bottom for the long term. Their quarterly earnings were a lot better then expected.
Still in the sell the rally mode.
There are $100’s of billions (possibly $400 billion) tied up in margin accounts at what point will they start to be called if the markets keep falling. DT
You have to wonder don’t you. I suspect that it is not yet.
If anything calling in margin debt would only accelerate the sell-off so I suspect some ‘leniency’ to continue re margin debt.
Doc,
I agree with everything you said about every asset class. Thank you! I feel better now. Lol,, I usually loose betting against your predictions.
Have a great weekend.
Chartster, you too.
If you can’t beat ’em, should you join ’em?
I have been looking at MOM.
Interesting….no mother’s boy jokes please.
MOM SEA GUY with SAM in SAND….OMY…………
Don’t you folks find it interesting that the dollar is about to go down, and oil too…! That’s a fundamental change..!
Everything will go down into the deflationary death spiral
Like I said yesterday this is game set and match
As the world implodes now all asset classes will go down.
The commodity complex will continue to be hit especially hard.
Stocks will get hit, but will fair better than commodities
Real estate in certain areas will still do well
The $ will go nowhere
People will make money cherry picking for a short while, but that will come to an end.
we are now entering a new world where we teeter on the abyss
After the gay marriage bill ! Day will lower the Age of Consent ! God will give the DEVILS PLAY ! By on your guards BOYS ! Crazy thinks are Coming !
The bottom of metals is just a couple months away, James.
NOT!!!!
fknA, Listener… Great explanation of why, Not!
Sorry to disagree with you. OK….so I have written extensively in the recent past on why gold WILL NOT MAKE A RECOVERY anytime soon and pretty much nobody here pays attention. I have posted a great many charts and gone to the trouble to explain what they portend. I don’t give a shit if anyone believes it or not because I have no interest in whether they win or lose. It is my opinion and it is based on the the facts as I see them. So far (since the peak in 2011) I have been correct in the assessment. If anything, I was not bearish enough. But no matter. I don’t want to argue with you. All I will add is that we had all best prepare for a nasty decline in precious metals that will eventually take us well below the 1000 dollar level. The charts tell it like it is…..I don’t write the charts. I only interpret them and the message is pretty damn clear (to me anyway).
Chartster, the Bird Listener is hitting the bottle again and it shows. He’s even confusing Shad with Glenfidish lately (and his turtle for his mistress, but let’s not go there). It’s just plain sad.
DID NOT REALIZE ……SILVER ……..popped thur $15.02 at close of LONDON
SILVER CLOSED …….up and higher than last FRIDAY’S CLOSE…….
COT REPORT:
https://www.dropbox.com/s/919e4diks8bbq96/COMEX%204-08-15.jpg?dl=0
Well at least, we must have a bounce here …
Kingworldnews.com
will have Gerald Celente on tomorrow giving precise predictions of stockmarket crash.
Silver: going, going, Gone…..
http://www.silverdoctors.com/bill-murphy-silver-shortages-in-the-fall/#more-56455
I see a THEME happening………….the story line……….SHORTAGE…………..
The comments section on that post are quite interesting. Thanks for posting thoughts from good ole’ Turd.
maybe you could get TURD, to donate some money to your new company METAL DEPENDS
Yes, I can see it now…..
Precious Metal Depends spokesperson Turd Ferguson says:
“Expand your wealth at every blow off….In case you have a blow out!”
For the investor that is easily surprised by the wild swings, or just doesn’t want to leave their easy chair during normal trading hours….
Don’t dirty your drawers on a big bounce. Wear Precious Metals Depends.
🙂 ………..funny
But, then I am young at heart………….
Ha!
Doc has often mentioned watching the Bollinger bands narrowing on a monthly chart and which implies a major move. Has anyone here looked at the bands on NUGT, whether the 1 yr. or on up to the 5yr. ?
Silverdollar, thank you very much for drawing attention to NUGT. Not only are the BBs starting to narrow (they have a long way to go) but also other variables are starting to show that gold is finally starting its’ trek up. Now, this does not mean that it’s going higher anytime soon. This chart is telling you the healing process has now started and that currently there’s not a lot of downside unless the variables change. The reason it’ll take awhile yet is because the momentum indicators are in very negative territory and have a long ways to get to parity or zero. Also encouraging is the fact that the strength indicator for the move down is now starting to wane and the slow stochastics are starting to move up. We have a long way to go but this chart is now telling you the healing process has begun.
Silverdollar and Doc,
Great stuff!
Silver, I might mention I’m referring to the daily chart. That can change on a dime.
Also, the weekly and monthly charts are showing a slowing of the momentum of gold to the downside. But they are saying we have a long ways to go—-just another reason why I believe you won’t see the earliest flicker of the next leg higher for the PMs until at least the fall of 2016. Fall of 2016-2017 look promising.
Doc:
Thank you for the time you took to explain your ideas on NUGT. I never listen to or read your comments without learning something. It’s the subtleties that you bring to the explanation in TA that separates you from everyone else who claims to know the subject. I highly admire you for that. You are a teacher, and a good one, whether you know it or not. Something many strive for but few attain. I’ll be saving your comments. Hove a good weekend.
+1
Good thoughts on NUGT Doc.
Guy Fawkes making a comeback?
Did he ever go out of style?
V for Vendetta Opening Scene (Guy Fawkes)
CFS – This is likely the scene that inspired the Anonymous movement you posted.
V For Vendetta – ending
It was suggested I upgrade to Windows 10 on my laptop for FREE. Yeh, Right.
http://www.wnd.com/2015/08/windows-10-spies-on-emails-images-credit-cards-more/
Design flaw or NSA-mandated backdoor?
Chinese central bank spending……Whoa!
http://www.irishtimes.com/business/economy/china-pays-144bn-to-bolster-stock-market-1.2309330
SILVER: going, going, GONE!
http://investmentresearchdynamics.com/provident-metals-defaults-on-delivery-of-rcm-10-oz-bars/
The RCM 10 oz bars are the bee’s knees. I have mine, do you have yours? Evidently … NOT.
I SMELL A SHORTAGE…………………………….
I would love to see gold go up $200 a week! And what was that about $75 oil?
Thanks Doc always like to hear your projections. Where do we find your blog or website?