Why do all markets in the US seems to be in slow motion?
Doc joins me for a general discussion on US markets and a couple other areas that seem to be moving in slow motion. The easy excuse is the Fed meeting tomorrow but there is an argument for this to continue even past tomorrow.
At $1431, gold is at quarterly Bollinger Band resistance (and $17 above monthly BB resistance).
For the first time in many years, gold finished the last quarter above the quarterly BB. This is a big show of strength and the yearly BB (currently $1833) will be hit far sooner than most think.
Louise Yamada Sees Gold Surging to New Highs
July 26th, 2019 – #VIDEO
https://www.bloomberg.com/news/videos/2019-07-26/louise-yamada-sees-gold-surging-to-new-highs-video
On July 29, 2019 at 4:44 pm,
cfs says:
Louise Yamada on gold:
https://www.youtube.com/watch?v=4GnDNUxAcbY&feature=youtu.be
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On July 29, 2019 at 5:00 pm,
OOTB Jerry says:
Dang , is she still kicking……..
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On July 29, 2019 at 5:07 pm,
OOTB Jerry says:
Louise……..is a great one………consider gold on the move and confirmed going higher…
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On July 28, 2019 at 11:04 am,
Matthew says:
Louise Yamada knows what’s up:
https://www.youtube.com/watch?v=4GnDNUxAcbY
😉
Great minds think alike…….but, maybe not all at the same speed…… 🙂
As the title of this editorial states – the markets are moving in slow motion.
Sorry, so is my mind…. 😮
ha, ha……..good one… 🙂
Gold closed at $1441.80 (currently at $1443 in after hours trading).
It is encouraging to see the better pricing now that the August futures contract rolled over to the December futures.
I posted the following chart recently because it shows gold closing the last two weeks above the bear market-based final speed resistance line. There’s nothing half-assed about gold’s action these days…
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=9&mn=5&dy=0&id=p72957876173&a=613254309
Nice to see Gold on the surge and break above the whole series of speed resistance lines. Strong action for sure.
It’s a real nail-biter going into the monthly close tomorrow with it being a FEDbabble rate cut day, where every word from Powell will get over-analysed.
Only 3 options:
– 25 basis point cut (baked in at this point)
– 50 basis point cut (may surprise the markets)
– no rate cut (there may be a serious tantrum if they hold out until September)
If gold can put in a strong monthly close tomorrow, then the miners should get even friskier.
I wouldn’t want to be Powell tomorrow either, as there is no way to keep the sheeple happy.
As many commentators here mentioned before they ever started initially raising rates in Dec of 2015… the central bankers have painted themselves into a corner.
The markets are addicted to cheap money, and the only answer at the time was
to raise rates, only to cut them again. And….. here we are…..
https://images.axios.com/yxmJGM8mcs1q7nuK_b5AVTjS8F4=/0x0:4922×2769/1920×1080/2019/02/26/1551191586837.jpg
#Gold, #Silver investing legend Eric Sprott on Junior Mining Spree
Frik Els | July 30, 2019
“The Canadian billionaire investor – also a pioneer in the gold-backed ETF industry – has splashed more than C$139 million on 16 gold and silver #explorers (and some nickel on the side) since May, according to junior mining finance authority Oreninc. $127m of the total found its way to Canada-domiciled companies.”
https://www.mining.com/gold-silver-investing-legend-eric-sprott-on-junior-mining-spree/
Something tells me that the rest of the week will be strong. We know a pullback is coming but there’s just not much suggesting that it will start this week.
An important resistance comes in at roughly 1470 tomorrow…
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=0&dy=9&id=p95045649160&a=678507175
Sprott recently said that he doesn’t buy the seniors so I’ve got that in common with him.
Yes, in fact Sprott sold a big chunk of his Kirkland Lake shares, to buy up that basket of Jrs.
Personaly, I steer clear of most of the seniors, as they tend to underperform, however some of the Mid-Tier producers can still have nice torque to underlying metals prices. My passion is more in the Jrs – small producers, development stories, and a basket of explorers, as that is where the outperformance is found.
Excellent Recoveries Demonstrated in Metallurgical Testwork from the Séguéla Gold Project
@newswire on 29 Jul 2019 – Roxgold (ROXG) (ROGFF) Gold producer in West Africa
https://ceo.ca/@newswire/excellent-recoveries-demonstrated-in-metallurgical
Doc, will you be rooting for Bernie or Pocahontas tonight? Either if elected would take gold to 10K.
BB;I’m ultimately rooting for Marianne Williamson. Her eyes pierce my soul and her soul and energy envelop my heart. Her love radiates and bursts like sun rays over the stage.
Doc…….someone needs to take your pulse……
🙂
Ya just plain cant dodge cupids arrows.
Marianne, is going to love us to death………I will have to say one thing…..she was spot on calling out the Large Corps, MIC, Congress
The Rest, were a bunch of idiots…..babbling …jmo
Doc, I felt the same way about Barry Goldwater.
A pity the Mifsud information comes out tomorrow, of the candidates might have some tough questions to answer.
Why the tumble in Pd today? -$40
Did automakers finally figure Pt was cheap?
This should be interesting………California Moron Gov and Trump going head to head…
https://www.zerohedge.com/news/2019-07-30/california-should-be-embarrassed-state-passes-law-banning-trump-ballot-unless-tax
Constitutionally doubtfully legal.
I’m not sure a state has the power to constrain a federal election.
Sounds logical …..
SILJ was capped again by two resistance levels today but will likely break out very soon…
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=1&dy=0&id=p63433661750&a=639264264
SLV is attempting a breakout of its own for the third week in a row…
https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=3&mn=3&dy=22&id=p43067388781&a=649322644
Ira’s metals
Despite becoming very overbought lately, SLV:GLD looks like it will continue higher…
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=5&dy=0&id=p73947886154&a=677075872
https://www.rt.com/business/465289-barclays-jp-forex-rigging/
UK banks under attack
YouTube Manipulated ‘Federal Reserve’ Search Results In Response to MSNBC Host’s Complaint
Watching the Democrat presidential debate, yet again pure LIES are stated about climate change.
If you simply want to talk about Co2 as the primary mechanism, the physics involved is on a log scale. (Rounding the numbers slightly from memory) In order to have a global rise in temperature, CO2 concentration went from 400 p.p.m. to 800 p.p.m.
WHAT concentration of CO2 do you need for the next 1 degree centigrade rise?
Answer: Another 800 p.p.m. to get to 1,600 p.p.m.
The next 1 degree rise requires another 1,600 p.p.m. to get to 3,200 p.p.m.
it is not a linear proportionality.
In another few decades of increasing CO2 it is a FACT that CO2 changes will NOT be the dominant cause of change in temperature, because changes in CO2 will have to be huge to be significant in effecting temperature change.
Also not well modeled is plant growth, which increases as CO2 concentrations increase.
(Plant growth is negative feedback on temperature increases)
And, of course, the big error is still the assumption of the Sun giving constant output.
If Trump wants to win the next election, all he has to do is mention: Baltimore
Canton , NY., Gary, In.,Flint, Michigan, Chicago, Ill, LA,California….just about any Democratic city…..and you will find mismanagement and high crime.
But, Republicans….are no better, just the schemes they play….
We are just kidding ourselves, the country is BROKE…..The elites have stolen the show.
MIC, CIA, FBI, Treasury, FED., Congress…….entire JOKE, but the joke is on WE THE PEOPLE.
Right you are. Placing so much hope in Trump or any president is infantile but here we are.
The idiocracy is in full bloom.
Funny thing happened on the way to the Forum……lol
Canton, NJ……sorry
Dang…..Camden, NJ…..
Remember this day, Thursday, October 24th 1929. On that day stocks opened moderately steady but in enormous volume, stocks went down with an amazing violence. Now exactly 90 years later October 24th 2019 falls on a Thursday and the conditions which result in serious depressions in the economy are present. DT
Should be interesting…….some others are calling for a real correction(Big Bobby M for one), but, …this economy is so managed, unlike 1929, who knows……
But, still a good reminder……….jmo
Corporate scum MONSANTO…….killing UK………
I thought the Brits. ban MOTO shema.
https://www.zerohedge.com/news/2019-07-30/life-expectancy-falters-uk
MONSANTO……..should pay every dime it has made back to the people
TOXIC HISTORY OF MONSANTO IN THE UK
Mason begins by offering a brief history of Monsanto in the UK. In 1949, that company set up a chemical factory in Newport, Wales, where it manufactured PCBs until 1977 and a number of other dangerous chemicals. Monsanto was eventually found to be dumping toxic waste in the River Severn, public waterways and sewerage. It then paid a contractor which illegally dumped thousands of tons of cancer-causing chemicals, including PCBs, dioxins and Agent Orange derivatives, at two quarries in Wales – Brofiscin (80,000 tonnes) and Maendy (42,000 tonnes) – between 1965 and 1972.
Life expectancy dropping in UK probably has nothing to do with monsanto and due to immigration policy.
Import millions of people from middle east, and ex-commonwealth countries, such that “Anglo-saxon English” are a minority and statistics have little meaning.
I disagree…………
The immigrant just started showing up…..in the last 20 yrs……(at least the poor ones)
Cancer takes a little longer to work on the population in general……jmo
Monsanto is in the water and food…..
Just like lead in the water, did not kill off Rome all at once……
Lead in the mugs and drinking cups…..of the roman citizens…..
Humm…….
The victims’ lawsuit has been slowly moving forward for years, especially after Congress in 2016 passed the Justice Against Sponsors of Terrorism Act (JASTA), allowing US citizens for the first time to sue a foreign state if that state sponsored international terrorism which harmed the victims.
This was ex post facto…..looks like an attorney gravy train…..just for the insiders of course….jmo
Only the little people pay taxes……
“Trump didn’t drain the swamp, he is now the leader of the swamp.” — Peter Schiff
https://www.youtube.com/watch?v=fO1yXCZvNdQ
There sure are a lot of people all over on one side of the boat.
Has anyone ever heard of “Buy the rumor, sell the news?”
There’s been an awful lot of top-calling in the miners for weeks now and that by itself can keep the move going, but I do think a short term top is coming soon. BUT we both know that the miners can squirt significantly higher in a short time.
https://stockcharts.com/h-sc/ui?s=%24BPGDM&p=W&yr=11&mn=11&dy=0&id=p43521319635&a=679805091
Silver is still moving.
Debt is so high everywhere. Printing forced to cover interest everywhere.
What happened to the tea party?