How sustainable is the pop in gold and the drop in US Markets?
The moves today are due to political news which typically is not sustained. However there is a continued trend on people turning their back on Trump. Doc and I look at the gold move vs the lack of a move in silver plus the drop in US markets and continued fall in the USD.
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David, you’re correct about that. I’ll check with Cory to see if he has any recent info.
Also would like comments on uplisting. (Assuming positive results for phase 1b trials.)
Doc, silver did go to near 16 and we are having a bump which you believe will not last. Do you think there is a better than even chance that silver will eventually go down to the 15 region or lower? Do you also think the stock market will continue a bit lower and if so, how low is your target?
Pardu, it appears the PMs have a little more juice to them and then I believe the summer sees them falling back in the doldrums and moving lower again. The 15’s for silver is a real possibility.
Do you also think the VIX has more room to go up at this point or is this move down in stocks going to be short lived until the big drop later?
Doc . i Agree with you on Gold and Silver ; I Disagree on Trump Trump will no GO !
SLV:GLD has pulled back hard to get some gaps filled. I like it.
http://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=0&mn=7&dy=22&id=p90966871143
GDX is trading at the same price it was 4 years ago. Boring.
Doc if the FED doesn’t raise there will be extreme pressure on the USD and major upward flight in the PM’s? No??
The Dow would have to rise 160% vs gold just to get back to its true all-time high of almost 18 years ago. Boring.
GDX is currently up 11.3% YTD while DIA is up 5.5%. Less boring.
Well djia up 25.90% in that same time period, while gdx is unchanged from 4 years ago. All this panic selling of gdx at the recent bottoms is quite amusing, to be followed by panic buying at the recent tops. Resulting in a net zero gain/loss. You talk about herded morons in these markets. Sell, sell, sell……no buy buy buy. Manic depressants all the way. You go trade em, make the commissions and see ya at the same price in 1 month. Its all laughable.
imo there is only one thing more insane than being long term bullish on gold stocks, that is being short the djia.
I paid five figures in commissions last year but the amount was minuscule (no exaggeration) when compared to my gains. The Dow would be around 100,000 today had it kept up.
Nice work. Agreed.
Hard for the DOW to compete with 500-800% gains.
Trump vs Swamp
Matt,
Rambus over at GoldTent is soiling himself on what the Canadian Banking cartel chats are saying. Best not to read that stuff as it is truly frightening!
Well now I’m curious!
Sorry gang, I mean CHARTS not chats
It doesn’t look good for stocks. Notice the major bearish divergences:
http://stockcharts.com/h-sc/ui?s=DIA&p=D&yr=1&mn=11&dy=0&id=p27838664274&a=524458006
I love hearing all these negative commentators on gold. So bullish!
Cory/Doc:
Any news coming on Theralase? Should be closing in on the 30 day window on all 3 patients.