Jobs and savings, major concerns for Americans
President and CEO of Wood Financial Group Wesley Wood joins me on the KE Report to give a first hand look at the struggles Americans are having saving money. Wesley advises people entering retirement as well as high net worth individuals (both young and oil) on how to best prepare for retirement. He comments that after the 2008 crash people do not have enough to retire. This is keeping them in the work force and they are having trouble finding jobs that pay well enough to support moving into retirement.
Click download link to listen on this device: Download Show
Absolutely. $1140 is in the cards at this point. Monthly candle is going to look awful to boot. No way we won’t be making at least a marginal new low in December. I hate this sector. lol.
doesnt seem to be enough money interested to push the gold price higher at this time.
especially with such a drastic drop in demand in India.
The New Cold War Extends Into Mainstream Media
By Turd Ferguson | Wednesday, November 30, 2016 at 9:37 am
The New Cold War took a dark and startling turn last week when the venerable Washington Post published a front page story that listed websites that are supposedly on the take from the Russians. This new McCarthyism was quickly noted here last week last week and it drew the attention of John and Steve during this week’s show.
And much of this program is devoted to the War Party’s management of news and information. Not only have the websites of several friends of TFMR been caught up in the slander and libel, the mainstream media is now actively adapting the nomenclature of its narrative in order to enflame the tensions. This is devious and diabolical stuff and you MUST become aware of these steps being taken in their efforts to deceive and “manage” you.
This is another terrific, informative and timely podcast and we all owe Mr. Batchelor and Professor Cohen an immense debt of gratitude for their ongoing efforts.
http://www.tfmetalsreport.com/blog/8014/new-cold-war-extends-media#new
They did everyone a favor by providing a decent list of media outlets that aren’t pure establishment propaganda!
Agreed. Sadly, the vast majority won’t take it that way.
Thanks for that Marked. A
As expected, loonie sellers showed up at the 74.70 – 74.85 area this morning…
http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&b=5&g=0&id=p51733955521&a=487491837
GDXJ:GLD is at resistance…
http://stockcharts.com/h-sc/ui?s=GDXJ%3AGLD&p=D&yr=0&mn=7&dy=0&id=p21729873547&a=490095165
Notice the big black candle on the 25th. While we could go higher in a relief rally, I can pretty much guarantee we are going to break below the November 14 low at some point.
Huge black candle in $cdw today. Again, a short covering rally is maybe in the cards, but a cascade lower is equally probable IMO.
We are also below the 61.8% retrace on the yen. Again, a short covering rally can come at any time. But a cyclical bottom at this point??? No. There is literally no floor on yen until the Fed is forced to fire up QE. Good luck on timing that one.
Gold has plunged another $40 since it hit $1211 on 11/14 yet the miners have not gone lower and, in fact, have made higher lows while gold has made lower lows. This is very positive action. It is also very positive that silver has not fallen apart versus gold and the junior miners continue to show more strength than the seniors.
If gold does get whacked further before the Fed meeting, it will be a great opportunity for those who failed to buy last Dec/Jan.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=9&dy=13&id=p70615831684&a=490609580
slv:gld will break the 200 dma within the next month guaranteed.
I’ll concede that the 50 and 100 WMAs could provide support, but since these are the metals we are talking about, we are guaranteed to pierce below major support by a signficant margin. If you are willing to ride out these moves, good for you. I have held onto these POS miners since October 2015. unfortunately I bought near the highs after the summer plunge on that initial sucker’s rally. I have basically given back most of my gains at this point. Yeah I know, you are up big and have done well, whatever. I am at the limit of my risk tolerance and have limit sales order in today to liquidate my portfolio. I could honestly care less if they go to the moon starting tomorrow, I cannot risk going underwater after holding these things for so long. Good luck to you.
If we want a shot at huge gains, we have to accept the fact that we can’t expect Dow type action.
Those who can’t handle the volatility or are unable to buy weakness should simply bet a whole lot less. You can risk it all in the Dow to make ten percent or risk ten percent in junior resource companies to make one-hundred percent or more.
I respect your fortitude, but like I said, I am not willing to risk another 2013 cascade. I actually can’t, it’s as simple as that. This is by no means a low risk set up, IMO.
No hard feelings. I was swinging for the fences and I knew it would be volatile and rough, but I did not honestly expect this (especially the ridiculous drop in yen). I gave up huge gains in August because I thought I was in for the long haul and wanted to lock up long term capital gains after holding for many years. But it just was not in the cards. The tree-shakers apparently know exactly the right buttons to press apparently. best of luck and keep posting. If you end up being right, you will be a legend.
Good luck to you too, Spanky.
Cheers
Spanky:
In investing anytime someone uses the word “guaranteed” it’s fraud. Nothing in life is guaranteed except death and taxes.
Yes, I know full well there are no guarantees. I have been long gold since 2001 and been in and out of miners since about the same time.
I knew a huge retrace and long consolidation were possible. In fact, I was probably one of the only ones I can think of that was actually stating the 200 dma was a target when the HUI was 280+.
I was and am trying to catch THE bottom in the miners, and it look like a took a swing and may have missed. I am fine with that. I am just disappointed that the road to riches seem much much more distant as of today than 4 months ago, or even 8 months ago.
I have set limit sell order on my positions today, none of which have been hit yet. With my luck, none will get executed and we gap down 20 pts on the HUI tomorrow morning.
Beauty of a chart, Matthew.
Here’s the GDX chart I’ve been posting for a couple of months. It’s right in the zone, imo.
http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=4&mn=6&dy=0&id=p42343550332&a=480387695
Spanky, I feel your pain. I’ve considered adopting the moniker ‘Keelhaul’ after what I’ve been through, but I prefer the positivity of Excelsior’s ‘ever upward’.
I hope you understand that though I debate your points, I respect them, and it’s a valuable perspective to keep fresh in peoples’ minds. Getting stopped out isn’t the end of the world. If it does start back up, you can still catch it, if you can maintain your composure and manage a low-risk entry.
Btw, I have nearly quintupled my USA.TO position in the last several days and have added to most of my positions.
I’ve been adding to a few positions as well (including Americas Silver). It is at a great value proposition at current levels.
Here’s another positive divergence. GLD has taken out its 11/25 low…
http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=9&dy=13&id=p69260873061
…while SLV has not even come close to doing so…
http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=11&dy=0&id=p69183307568&a=451786106
I respect your fortitude, but like I said, I am not willing to risk another 2013 cascade. I actually can’t, it’s as simple as that. This is by no means a low risk set up, IMO.
No hard feelings. I was swinging for the fences and I knew it would be volatile and rough, but I did not honestly expect this (especially the ridiculous drop in yen). I gave up huge gains in August because I thought I was in for the long haul and wanted to lock up long term capital gains after holding for many years. But it just was not in the cards. The tree-shakers apparently know exactly the right buttons to press apparently. best of luck and keep posting. If you end up being right, you will be a legend.
http://stockcharts.com/h-sc/ui?s=GDX:GLD&p=W&b=5&g=0&id=p95478818355&a=490630183&listNum=1
Bearish black candles. It’s going lower.
Just a bog bear flag on $CDW since the beginning of the month. Drop to new lows is coming.
Many silver miners to test their 100 WMAs soon, which may end the bloodbath but that is still a huge ways away for most silver miners.
This is a carbon copy of 2013.
Household debt…..hits $12.4 trillion….as delinquencies hit highest in six yrs.
What we need to solve this problem is more immigrants and to raise minimum wage to $15! 😮 😉
Interesting chart on immigrant #s in US:
http://cis.org/sites/cis.org/files/camarota-profile-f1.png
Juxtapose this with the labor participation rate and send it to everyone you know who equates limiting immigration with racism. If they can’t understand it, they’re probably not worth wasting any time trying to convince. You can’t out-think a non-thinker.
Pelosi retains leadership. ( 🙂 ) what leadership
Maybe Harry Reid will come back..joker no. 2
Bite your tongue, OOTB. 🙂
And WTH is it going to take to see the back of that Pelosi woman!?
The dollar and oil….up.
PM down hoping for a bottom.
If oil price moves are influenced by OPEC speculation that we have witnessed, is the relationship between oil and gold via the CRB null and void? Seems to me there is now a disconnect between these 2 commodities, with oil regularly moving in tandem with the US$
Hey b.bnn clip about pot stocks.
http://www.bnn.ca/commodities/video/privateer-talks-marijuana-task-force-listens~1006438
Thanks wolfster. I’m big on West Africa at present and Roxgold is getting it done!
For any one with an interest in Trevali ,Dundee bought 4,473,857 in the last 20 minutes of trade…
Wow. There’s a vote of confidence in the Zinc sector. The Zinc stocks are still really undervalued considering the move in the underlying commodity.
Back below 1180, i thought we might get up to 1220-30 before heading back down.
Maybe we snap back, but looks to me 1140 is still a maybe and we see if its up or down from there if we hit it.