Markets and Metals – We breakdown recent market reversals and new investing trends
It was a relatively slow week in the markets until Friday when the jobs data was released. That’s when we saw investors go risk on and sell of treasuries and gold. Since the summer trading sessions always have volatility we focus this Weekend’s Show on what matters to investors heading out of summer.
Please keep in touch by email Shad and I at either Shad@kereport.com or Fleck@kereport.com. We hope you all really enjoy this Weekend’s Show!
We also have a webinar coming up on Monday at 1pm PT with Novo Resources. To register click here. Be sure to send me your questions!
- Segment 1 and 2 – Mike Larson, Editor of the Safe Money Report kicks off the show with a big picture look at the markets. We focus on the bond markets, US equity markets, and gold.
- Segment 3 – Trader Vic Sperandeo is up next with an extended segment to outline why he thinks all the markets are manipulated. We discuss inflation data and how the Fed is playing its roll.
- Segment 4 – Marc Chandler, Managing Partner at Bannockburn Global ForEx wraps up the show by recapping the moves in the markets on Friday and some of the new trends to watch as we move through summer.
Exclusive Company Interviews This Week
- Nomad Royalty – Recapping Q2 Revenues of $4.6million and Asset Updates Toward Production
- Thor Explorations – The first gold pour at the Segilola Gold Project and exploration work at both Segilola and the Douta Project
- An Exclusive Company Introduction to Aurion Resources, an exploration focus in Finland
- Mantaro Silver – Recapping recent news on exploration and land acquisition at the Santas Gloria and San Jose Projects, in Peru
- Palamina Corp – Updates from Peru, including drill plans and election results, and a strategic $5 million financing
- Libero Copper & Gold – Drilling updates from the Big Red and Big Bulk Projects, and an exploration update on the Mocoa Property
- GR Silver Mining – A focus on the upcoming Resource Estimate and the large exploration drill program ongoing
- Novo Resources – Previewing the upcoming webinar and Michael Spreadborough appointed as Co-Chairman
Several folks, including you Marty, had asked for Trader Vic, and it was nice to have him back on the weekend show.
I don’t know what trader Vic is talking about as the federal reserve isn’t tightening. Their balance sheet continues to soar higher all the time!!! https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
Others have been talking about this reverse repo business and TV puts it simply. The Fed is draining cash out of the market with these reverse repos…that’s it.
Space Flights are on sale now
There is many options like the Ron Fellows Performance Driving School for less than $5000.
Lunar Shuttle Tickets
My guess at the end of the week is that Retail buying and Computers selling.
Totally off topic but I’m wondering what folks think about an issue – I finally got an Brokerage account where I can trade in Canadian dollars. If you are a US resident is better to buy a Canadian miner on the Vancouver or Toronto exchanges or through the PINK sheets? I assume that it complicates taxes but orders seem to move much faster.
There is more liquidity and better market makers for the primary trading tickers in the mining stocks, (be they on the Canadian exchange, Australian Exchange, London Exchange, etc…) so the bid/ask spreads are far tighter in that kind of environment, and the pricing doesn’t get pushed around as much as on the OTC markets.
However, because of that tendency for the OTC markets to get pushed around too far in either direction, and make exaggerated moves from really wide bid/ask spreads, or people putting through “market orders” instead of “limit orders” then sometimes there are interesting arbitrages in value between the primary ticker and the over-the-counter ticker that can be exploited, which can be a reason to favor the OTC in US dollars in those kinds of arbitrage situations.
Another thing is that when there are company mergers, or stock consolidations, or name changes, or ticker cusip changes, they tend to happen right on schedule with primary tickers, but can be drawn out ordeals with OTC tickers, especially on the pink and grey sheet ones. The OTCXB and OTCXQ are far more liquid, have much tighter bid/ask spreads that are usually in tune with the primary ticker, and have more transparency and guidelines, so those are far easier stocks to trade for the majority of investors.
Sorry having a dyslexic moment… That should have said OTCQX and OTCQB.
Those are the main 2 OTC for liquidity and easier for investors to trade.
There are still platforms (like Robinhood and not sure about others like WeBull or Stash, etc…) where US investors can not trade OTC listed companies and are limited to primary exchange-listed stocks. That is what gave true Canadian/US dual-listed companies a big advantage during the “Silver Squeeze” for that reason.
There are a few trading platforms that allow for trading on primary exchanges in the appropriate currencies, and that is an option if folks want 2 have a separate account for that. For example Interactive Brokers facilitates this kind of trading.
Ex –
Thanks again for the thoughts –
One of the things that pushed me to do this was even if a company has symbol on the pink/grey sheets Schwab and others may want $50 for a transaction or the order placed via their 800 number. So, I open up an account at IB thinking I could escape that issue and yes I can exchange $’s for a number of currencies for a fee and buy directly on either the Vancouver or Toronto Exchange. All fine and good but one note on IB – it ain’t know for customer service. Frankly I’m still not sure that it actually exists but then that is a whole other issue —-
Yes, understandable Mike, as I’ve heard some mixed reviews back about Schwab’s platform and fees. I believe you’ll find Interactive Brokers to have a lower fee structure, and the ability to buy the primary ticker is a big plus.
On both I.B. and T.D. I’ve rarely needed to phone in an order for many years, unless there is some kind of glitch, preferring to place my limit orders directly through the platform. As mentioned above, the only times these glitches have showed up were actually over at TD on the OTC tickers I’ve traded, and not on the primary company tickers at IB, where there are rarely issues.
Finding the Best Battery Metals Investments with Analyst Chris Berry
Mining Stock Education – Aug 4, 2021
0:00 Introduction
0:30 Carbon Streaming Royalties
4:18 Nuclear power to fuel green movement?
7:40 Battery recycling
10:36 Dangers of battery recycling
12:07 EVs with battery fires
14:13 Advice for mining stock investors in battery metal miners
18:08 Manganese as a battery metal
whoops… I meant for this post to go down below.
Hi Mike, Ex has a lot of knowledge to share with investors, if he doesn’t know something he finds out really quickly and shares his findings, I like to think of him as an Exipedia on the markets.
Ex, I left you a post this morning on TG Watkins from yesterday.
Thanks for the heads up DT. I replied back there on the TG blog, and appreciated getting your thoughts on the “surprise.”
Haha! Thanks DT.
Mike, for years I did both simultaneously and did “scalp” a lot of discrepancies but I switched to Canadian only about 11 years ago because it is simply better. IB automatically computes your taxes in your currency so your tax preparer won’t have any extra work to do.
If you make enough money for IB (trade a lot and/or use enough margin), you will be presented with a phone number that will provide you with much better customer service. You’ll get an actual person when you call and will not sit on hold.
Aside from that, use a “Web Ticket” when possible to get questions answered.
Gold Stock Summer Doldrums Ending? with Pro Mining Investor David Erfle
Mining Stock Education – Aug 2, 2021
0:00 Introduction
1:45 Current Jr gold stock market
6:26 Gold price consolidating huge 2016 to 2020 move
7:08 Putting gold/silver juniors valuation in perspective
11:22 Don’t buy gold stocks that aren’t cashed up
14:53 Marathon Gold and Rio2 capex financings
19:03 Peru as mining jurisdiction
21:18 “It’s a great time to buy”
Why Did Gold Price Drop 2% Today? More Downside Coming?
> Gareth Soloway On Metals, Stocks, Bitcoin
Kitco News w/ David Lin – Aug 6, 2021
0:00 – Gold price action
4:40 – Stocks
10:20 – Gold price outlook
12:56 – Valuations and inflation
15:00 – Bitcoin
Ira Epstein’s Morning Flash Video for (8/6/2021) [lots of comments on the Labor reports]
Commodities, Futures Trading, Online Trading, Technical Analysis, Stock Indices, S&P 500 Index, NASDAQ, Russell 2000, Treasuries, Finance
Rick Rule: Gold, Silver, Mining Stocks & Uranium and The Currency Crisis
I Love Prosperity w/ Jake Ducey – July 28, 2021
“In this video, we talk about mining stocks, gold, silver, commodities and Uranium. Rick explains what he’s investing in, and how to get rich during this currency crisis.”
Rick Rule | The Fed Is Sending the Wrong Signals to Society
Stansberry Research – July 28, 2021
Rick Rule founder of Rule Investment Media speaks with our Daniela Cambone about the Federal Reserve’s next moves after hitting $8 trillion on its balance sheet. “The Fed is in a box…they have placed themselves in a box with their policies,” Rule explains.
I would like to see Chris Temple and Trader Vic have a discussion together.
And I’d like to hear James Dines, Jim Sinclair, and Alf Field discuss gold and silver stocks.
Thanks for the return of Trader Vic. I wonder what they think about Novo and Wits2…
Steve Penny (@SilverChartist): Will Silver Stocks Crash With The Market? Some May Crash Less Than Others
BABY Investments w/ Antonio Atanasv – July 31, 2021
“I was curious to figure out whether silver stocks will crash with the market or not, and I asked Silver Chartist about it in my recent talk with him. Steve seems to think that although a market crash would be hurtful to silver stocks, they might be crashing less than the broad market, because they are at a relatively low starting point this time around, relative to the last time, relative to broad market equity.”
“I was also curious about figuring out which silver stocks will crash less than others, and Steve told me that silver royalty stocks will likely perform better during a stock market crash, but he doesn’t expect those to be the best performers during a silver bull run. He told me that although silver royalty stocks might be protecting you on the downside, they might also be costing you some upside.”
“Nonetheless, the royalty & streaming business is one of Silver Chartist’s (and mine) favorite businesses. There’s many reasons for that. The main ones include stability of income, diversification and often times dividends.”
“I had the chance to ask Steve Penny, the Silver Chartist, about the one silver company he would like to own, if he was only allowed to only buy into one silver stock, and he told me….”
Yes, and there is a lot to like with Metalla, and have a position in MTA as well.
However, when pressed on if he could only own one silver stock, Steve picked First Majestic, which is an understandable pick as a silver senior with Keith N. at the helm.
If manipulation is so grotesque, we should abandon trading PM sector once and for all? Maybe KER should focus on technology sector like AMDs, NVDAs like?
https://www.youtube.com/watch?v=yXHeORUsEFw
Warren agrees if MMT is a way to go, stocks are ridiculously cheap.
https://ibb.co/3Y2T0Sn
https://ibb.co/SQ9HTBX
https://ibb.co/jw1JBG3
I’m certain that these gaps gonna get filled.
Thanks for posting those charts CaliJoe. Good levels to watch on Hecla, PanAmerican, and Barrick and those gaps should be levels where support comes in and good spots to add to positions in many different miners.
That Hecla one you mentioned lined up pretty close to where Doc was waiting to add, so I’ll keep an eye on that as well, as I’d like to add a bit more to my Hecla position, but am holding just a starter position for now.
Much appreciated!
I get speculative fever when I start seeing gaps on stocks! Thanks CJ
There is a thrill in seeing an abrupt break in a stock, watch the gap get filled and then recover. The same sort of a thrill when a big short trader gets wiped out.
I guess that’s what gives reddit traders their jollies.
@DT: Bob seems to have the same prediction for a crash in October as you have
He even sees a big one like 1929
Hi Thomas, my three favorite periods in history are 1.) The Age Of Napoleon 2.) The Industrial Revolution in Great Britain 3.) America in The 1920’s, and The Great Depression in the 1930’s. There are so many similarities between what is happening now in The United States in the 1920’s leading up to The Stock Market Crash that it really is scary. I will just name a few, The Big Red Scare, Bombs and Race Riots, War neurosis, struggle for Women’s Rights, Scandals in The Government, Harding and The Clintons, Prosperity, accompanied by new Technology, Gangsters like Al Capone then, The Drug Wars now, The Florida Boom in The 1920’s and The Real Estate Bubble now, The Big Bull Market then and Now, The Federal Reserve loses control of the Financial Markets then and now, Divisions and Disparities of Wealth Between Rich and Poor, Stock Market exuberance leads to The Crash of 1929, The Coming Crash of 2021………
Really good comment DT
I have the same feeling that we see a repeat of the 1920‘s
That’s why I think Bob is probably wrong with his prediction of a big crash this year. He is ten years to early, if the 1920‘s repeat. The 1920‘s were the most prosperous years (Age of Prosperity)
http://americainclass.org/sources/becomingmodern/prosperity/text4/text4.htm
With all the government spending around the world and all the new technologies coming (self driving cars, digitalization, space travel, …) the next ten years will be the best in our life.
There will be a last big party, before the reset
Do we get a post pandemic boom (like in the 1920‘s)
Lithium demand increases 10x – 55x
A PATHOLOGIST SUMMARY OF WHAT THESE JABS DO TO THE BRAIN AND OTHER ORGANS
The Nuremberg Code is absolutely being violated.
https://rumble.com/vkopys-a-pathologist-summary-of-what-these-jabs-do-to-the-brain-and-other-organs.html
Vaccines have side effects – some will eaven die – they are not a vitamin drink
Because COVID-19 is so infectious, you only have two options
– take the vaccine and risk the side effects
– get the virus and risk to get hospitalized
I decided for the first option. COVID-19 is not a flu. It is more dangerous than the vaccine.
If you don’t believe it, you should look a video what it means to get hospitalized with COVID-19
The “vaccines” are not vaccines at all; they are toxic and diabolical. They are NOT an option. I’ve done a thorough investigation and the shots are far more dangerous than the virus. The criminals in charge have kept ivermectin and hydroxychloroquine from the people because THEY WORK. Their motive for pushing the jab so relentlessly on everyone goes way beyond profit and has absolutely nothing to do with concerns for the wellbeing of the masses. Censorship efforts were ramped up massively the moment this scam began 18 months and that should be your first powerful clue that this is all a huge fraud. The science has been completely ignored and hidden by the dirtballs who keep claiming to be all about the science.
You haven’t done your homework, Thomas. The truth is well known all over the world but the powers that be are doing everything they can to hide it and smear it.
Matthew, think of how our blood supply has been compromised by these vaccinations. If you go into the Hospital and you need a blood transfusion and you haven’t been vaccinated, you will get the jab whether you want it or not.
It’s interesting you bring that up because a local mother halted treatment of her little girl for that reason and her doctor agreed with the decision though hadn’t thought of the risk himself. The girl was receiving a blood product, not transfusions.
GDX is sporting a bullish and uncommon megaphone bottom pattern (also called a broadening pattern)…
https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=1&dy=0&id=p06906244091&a=974962609
Oops, that was not meant to land there.
Matthew, thanks for this link to Dr. Cole. This is exactly what Dr. Mikovits, Dr. Tenpenny, Dr. Luc Montagnier, Mike Adams, etc. predicted over a year ago. This mRNA shot is a bioterrorism weapon. We can assume that this is part of Bill Gates and Klaus Schwab’s plan to depopulate the planet. This is genocide that will dwarf anything contemplated by Hitler by a thousand fold unless we stop these sociopaths from the W.E.F.
Bonzo, the masses can’t fathom that so many journals, magazines and other publications would go along with the big lie because they know and understand zero history. Businesses and institutions of any type are very unlikely to go against any government agenda for fear of retribution. It happened with the Kennedy assassination, 9/11, and countless other events all over the world and throughout history. Anyone who believes the MSM (including FOX, et al) are government watchdogs are beyond hopeless.
The MSM has been instrumental in making the virus appear to be something it isn’t and the money being given to hospitals behind the scenes has also done a lot to hide the truth. Then you have vaccine “fact-checkers” funded by big pharma and who knows how many other conflicts of interest.
The lack of protests in the US shows that Americans are some of the most gullible and hypnotized people in the West.
Of course, human nature is the greatest ally of those who seek power…
“The masses have never thirsted after truth. They turn aside from evidence that is not to their taste, preferring to deify error, if error seduce them. Whoever can supply them with illusions is easily their master; whoever attempts to destroy their illusions is always their victim.” — Gustave Le Bon
“Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.” – Thomas Jefferson
The following is more relevant than most currently realize…
https://www.lewrockwell.com/2021/04/no_author/how-empires-end/
The only reason you would want to treat a child (with the vaccine) is if you believe in child sacrifice. — Dr. Vladimir Zelenko
The G̶o̶l̶d̶e̶n̶ Silver Triangle of British Columbia
“Did you know that there’s six times more silver than gold found in the Golden Triangle? Should it be called the Silver Triangle?”
“In this live investment summit (DV) (DOLLF) Dolly Varden CEO, Shawn Khunkhun and Chief Geologist, Robert van Egmond will give attendees an update on the total resources of SILVER found in the Golden Triangle, past silver producing mines in the Triangle and why most silver deposits are found in Hazelton host rocks. Join us to find out where Dolly Varden is drilling 10,000 metres on its silver project this year.”
https://webinars.6ix.com/6ix/The-Silver-G-o-l-d-e-n-Triangle-of-British-Columbia?bmid=fb23f6664e18
(DV) (DOLLF) Dolly Varden Silver Has Commenced Diamond Drilling to Expand and Upgrade the Growing Silver Deposit at Torbrit
July 06, 2021
Shawn Khunkhun, CEO, President & Director of Dolly Varden Silver Corp. (TSX-V: DV | OTC: DOLLF) and Peter Krauth of The Silver Stock Investor discuss how the company is focused on the Dolly Varden silver properties located in northwestern British Columbia, Canada at the Virtual Silver Investor Forum in June, 2021.
Taj Singh, President, CEO & Director of Discovery Silver (TSX-V: DSV | OTCQX: DSVSF) and Peter Krauth of The Silver Stock Investor discuss the company’s flagship project, Cordero located in Chihuahua State, Mexico at the Virtual Silver Investor Forum in June, 2021.
Greg Johnson, CEO of Metallic Minerals Corp. (TSX-V: MMG | OTCQB: MMNGF) and Peter Krauth of The Silver Stock Investor discuss the company’s flagship project, the Keno Silver Project that is located in the historic Keno Hill Silver District of Canada’s Yukon Territory at the Virtual Silver Investor Forum in June, 2021.
Arturo Préstamo Elizondo, Executive Chairman & Interim CFO of Santacruz Silver Mining Ltd. (TSXV: SCZ | OTC: SZSMF | FSE:1SZ) and David Morgan of The Morgan Report discuss the company’s proven track records in discovering, developing and operating silver mines in Mexico at the Virtual Silver Investor Forum in June, 2021.
Ex, I’m glad to see you are up and running at full steam, and you mentioned Santacruz Silver. +1
Yes, things are moving right along…. well, except in the junior miners. Haha!
It seemed like a good idea while things have been trending sideways to down, to review some of the Silver stories that could really move when the worm turns in the sector, and the next PM leg accelerates higher, so I was digesting some of the Silver Virtual Investor forum videos, and, of course, had to share the one with Santacruz Silver. 🙂
Fred Davidson, CEO of IMPACT Silver Corp. (TSX-V: IPT) and David Morgan of The Morgan Report discuss the company’s high grade epithermal silver-gold zones in central Mexico at the Virtual Silver Investor Forum in June, 2021.
Really enjoyed listening to Trader Vic again.
Yes, always nice to get Trader Vic’s thoughts.
Information security expert on revealed Pfizer agreements: ‘There’s good reason Pfizer fought to hide the details of these contracts’
“If you were wondering why Ivermectin was suppressed, it is because the agreement that countries had with Pfizer does not allow them to escape their contract, which states that even if a drug will be found to treat COVID-19, the contract cannot be voided.”
SILJ gained .52% vs GDX last week and remains net bullish vs GDX despite the ugly action of Wednesday thru Friday. Based on Friday’s price action (bullish divergences) and the oscillators, I would not bet on the possible short term bear flag activating or reaching its target if it does. But you never know…
https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=D&yr=1&mn=1&dy=0&id=p62020807338&a=1005949937
SILJ vs SLV managed to take back the important weekly “P” pivot after three weekly closes below it…
https://stockcharts.com/h-sc/ui?s=SILJ%3ASLV&p=W&yr=6&mn=11&dy=0&id=p02636847292&a=795168406
It will be nice to see the Silver miners really break out in a big way versus Silver, and of course investors should want to be positioned before that happens.
Stunning news from Iceland – among the world’s most vaccinated countries – today.
Facing a huge new #Covid outbreak that translates into ~100,000 new US cases a day, the country’s chief epidemiologist now says natural infection is the only way to reach herd immunity…
Want Ivermectin & alternatives to the mRNA shots?
https://www.siliconinvestor.com/readmsg.aspx?msgid=33431545
PFIZER AND MODERNA WARN THAT “MANY” PEOPLE “SHOULD NOT GET” THE SHOTS UNDER ANY CIRCUMSTANCES
The language is clear and unequivocal. The caveats have been studiously ignored by the media, Dr. Fauci, the FDA, and Joe Biden, who keep repeating the mantra “safe and effective” for all-comers.
https://coronanews123.wordpress.com/2021/07/22/urgent-pfizer-and-moderna-warn-that-many-people-should-not-take-shots-serious-and-unexpected-side-effects/
Some balanced thoughts on Covid/vaccinations from John Mauldin, a Texas republican: FWIW: https://goldseek.com/article/covid-consumer-headache
There’s never been anything balanced about Mauldin. It has been clear to me for the last 15 years or so that he is an establishment guy. You won’t catch him saying what needs to be said about central banking, either.
Every single element of the covid narrative is false. Watch the video contained in the following link and ask yourself why ALL of the MSM blacked out such a news story.
https://worldwidedemonstration.com/
Ditto…… Seems some where not fooled….. BIG FREAKING HOAX…..
Big algo attack already. Only an hour in…the alternative universe continues.
Waterfall decline happening now, gold going to 1500 and silver will probably break 20 by the end of the month.
Bear market in PMs is on and won’t end for years.
Really a bloodbath right now in the futures! Will be an interesting day tomorrow in the PM stocks………..and our portfolios in general.
Gold will be down over 100 by the the time the market opens here.
The shares will get decimated tomorrow.
I respect your opinion even if mine is slightly different. If your $100 down on the open is correct, I will have a couple of stink bids ready & accept the risk.
I’m very glad it’s gone this way. Way before the metals started trading today, I posted the following at another site:
More weakness does look probable for gold but it could be over quickly enough to see obvious and substantial positive divergences from our miners:
https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=2&dy=0&id=p09176101975&a=1004258693
Not likely to end and reverse, most of the fear that fueled gold and silver last year is gone and won’t return for years.
Years.
Are you yet another reincarnated Spanky? The market won’t recover for “YEARS” is pure Spanky talk and he always said it at the worst time.
Gold hit 1680 before quickly bouncing 40 and we now probably have a big symmetrical ABC correction in place and over.
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=3&mn=0&dy=0&id=p61273919228&a=1006056230
As a true “gold bug”, well, I think I should get a couple of stink bids ready
$17ll.00 on nearest future gold contract. Fugg it. Let’s get it over with. Remember this, IT WILL GET BETTER!
//www.zerohedge.com/markets/gold-flash-crashes-almost-100-4-billion-sell-order-hits
Maybe DOC’s Candy man has arrived!
The action of gold doesn’t surprise me one iota and why it was good for investors to hold their ammunition. The candy store door will be ajar tomorrow morning and will be a good time to take first time positions and add to the stocks already held. This action will be very similar to the March 2020 plunge and I hope it endures for a few days since this could probably be the final washout. It doesn’t mean we’re destined to go skyrocketing higher right away but it will not deter the ultimate path of the metal in the not distant future.
DOC,
You predicated this a long time ago so I have to give credit where credit is due. Do you anticipate gold going down below $1600? We’ve been hearing a murmur that Fed wants to kill gold bull to extinguish prevailing inflation. Gold’s down now, what now??
Ditto on Mauldin.
Cali, it could happen since the 200 week MA is down around 1520 which would create a REAL beautiful double bottom based on the move down in March of 2020—as mentioned before I was not impressed with that March 2021 double bottom everyone was talking about since real good double bottoms occur usually at longer time frames. If it occurs this time it will be a great buying opportunity and one of the best I’ve seen in years (IMHO).
Wow Doc. So if Gold goes below $1500 doesn’t mean Gold bull is dead?
There would be nothing beautiful about a move to that level or anywhere near it. Luckily, it is extremely unlikely.
Kitco right now doesn’t show a tremendous sell off ($31) and there is support at about $1700. We will probably challenge that price and the odds are we may hold there (at least for awhile). It really doesn’t matter to me since I’ll be in a buy mode when we get down to around $1700. I will more then nibble but not go 100% into the stocks since on the weekly chart there are indications we could over the next weeks move down to that sub $1600 level. The stocks have been screaming this scenario for weeks.
Cali; I do not believe the gold bull is dead in the least—-this is just noise in an interim bear market —-however, a lot of chart damage has occurred and it takes time to repair this kind of damage—-once again, it will be a great time of purchase for those that were patient.
Actually doc we discussed this long ago so no suprise. I’m on record as well.. $1480/$1520 is a very good possibility as many will continue to be in denial from August 2020 top. I guess our viewers will live and learn when call names lol..
Glen
Well said Doc! Gold bugs like Gary days at times are dumbest of the bunch. They don’t understand and never will how markets work. They are all buyers and bag holders at tops and then proclaim they buy the lows endlessly lmao.
Glen
It’s all manipulated…it could be up $100 by morning. It is not a free market but a casino for the bullion banks. Call tour mother…might be the only person that cares. I am looming for green next week.
Always looming, never looking…
Gold price looks to be recovering somewhat, tomorrow may not be that bad.
Both metals have already retraced nearly their entire declines which is a very good sign. Let’s see what this action causes some to do tomorrow morning.
Aussie mid tiers down 4-5% this Monday AM
I posted the following chart here or elsewhere and tonight’s plunge in silver would’ve been more than enough for SLV to fill it’s huge December gap had it happened in market hours. Gap in the metals’ ETFs have proven less reliable than stock gaps and for good reason.
https://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=11&dy=0&id=p78892622791&a=870048854
Gold price stabilizing a bit. Although I have my doubts attacks will resume tomorrow.
With all due respect your verse has been the same since august 😉 2020 top..
Yawn!
For the many who have short memory! Glen said I don’t trust double bottoms never have only v shaped powerful explosive moves for “ long bull moves”.. we are breaking this double bottom as it should have been always.
Impact silver guaranteed glen price of .46-.48 will hit. But the scary part is the stink bid that’s coming. Blood shed is not over
Glen
LOL, every time you’ve said it’s not over you’ve marked a significant low. Nothing will change the fact that you proved you can’t read a chart too many times to count. Two examples: You were nothing but bearish at the early March low and then at the late March low before gold went up about $250 and GDX went up more than 30%. If analysis and detail were your thing, you would have dumped IAMGold years ago and never looked back. 😉
If gold does hit $1600 ipt will be lucky to hold 46-48 imo.
We will know it for sure once its over.
It would be a bad development if gold were to take out its March low (1673), contrary to those here who think it would be great.
Looks like Magnus/Spanky was almost right with his prediction on silver testing 500 ma, indeed this 1 year+ consolidation and final capitulation looks like 2000-2011 market pattern in silver
Precious Metals : Gunned Again In August
https://saturationtiming.blogspot.com/2021/08/pms-gunned-again-in-august.html
Streamlined PM Miners: https://tinyurl.com/apjx59rc
Saturation Tuesday/Wednesday could mean a major turn.
” HAPPY OBOZO ” …….. The stuff of nightmares !!!!!
https://www.zerohedge.com/news/2021-08-08/happy-obozo
I really enjoyed this half hour docu from Petrodollars.
I don’t have sufficient imagination to see what happens next, so I keep adding to PM stocks.
Breaking News, CNBC, first thing…9:00AM EST: Gold weak because crypto replacing it (some waffling by Cramer): the orchestrated take down beginning last night, continues…I think this BS started when Nixon closed the Gold window. The lies we have to endure!
Shocker: only 4 of my 40 miners positive at open… the plan continues. Let us see how long the false effort to twist truth continues today…what attack comes next?
I bet the Fed is either directly or indirectly buying crypto today…
hammer time!…..https://tos.mx/uZv7vYQ
buy mortimer buy
weekly Tom Demark support hit exact…..daily RSI signal…now await a bullish reversal candle to cement the bottom…caveat is that some margin calls may unwind for a few days holding miners down…glta
FWIW….Gary last evening.
https://blog.smartmoneytrackerpremium.com/
Think we were typing at the same time.
Nobody is fright all the time but Gary did point our that the cartel would likely try and bomb gold last Friday. I think he got it right this time. Personally, I’m pleased that the miners aren’t really buying the big downdraft. If the selling is done, maybe directions will change shortly! Hang in there. Don’t let them scare you out!!!
https://goldseek.com/article/gold-update-bloodbath-begins
I’ve got a job open for a proof-reader. Any takers?
Not much volume in the tiny caps today but I got some orders filled. Like we saw on Friday, it is a good sign that the silver miners are still providing no downside leverage to silver.
SLV is down more than SIL and a little less than SILJ at the moment.
SLV has come within a couple cents of its S2 pivot support but more evidence is needed to call the low.
https://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=11&dy=0&id=p94670573649&a=870048854
As on Friday, SIL is up versus silver today…
https://stockcharts.com/h-sc/ui?s=SIL%3ASLV&p=D&yr=1&mn=6&dy=0&id=p07501638181&a=1006390967
ok ../gc is now oscillating between today’s hammer low 1680s and the 2 hour chart swing high at 1774s…could an AB=CD down form from the 2 hour high of 1919.1…yes..and that would be big super big…so risk to down does exist here and now…..let this settle down for clearer direction odds…… imho…let the big money volume show you their preferred jab direction…lmao…the 2 hour ABC down targ 1:1 is 1590…not saying but get proof of a low imho
1837.5 is the two hour chart high for another ABC down…not 1919.1…….i appologize
first /gc buy approaching…10 minute chart shows price below OUL red…below VWAP white ..below 50ema green…but leg g down that has an RSI divergence…so less down force at this low…probably wait to see how it clears the OUL…with price below VWAP the institutions are not yey hitting buy…i do not know why…
https://tos.mx/qsmFFnU
Trader Vic “ SIMPLY THE BEST “