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PAAS and SSRM beat forecasts and r up @12 % HL meanwhile is dn 0.5 % it missed a week ago
Nem beat and jumped big time…seems earnings are the only thing driving PM stox here…so all are seriously cheap as none are trading a bull mkt in metal….yet.
R640, Capt. hook
R640 – looks like you’re getting your wish on the SM deteriorating in the last hour – what I wanted to see as well, along with the metals strengthening of course. Funny that the USD has lost its bid as the day has gone on. Shouldn’t that be a flight to safety?
Capt. Hook – yeah I think we’re on the same page as well. Theatre of the absurd, likely to cover up the real story on how they are probably screwing us in one form or another.
Gotta give it to Jeff Gundlach, he called it again with his long VIX, long gold scenario.
Finally, JNUG is saying screw the Comex price-which has been frozen for hours-and is
nearing its earlier morning high…I wanna see the DOW swoon this last hour–2 floor traders-as I write–on FOX BI, are breathlessly talking about buying amazon and other FANG stocks–and if stocks fall more they will be buying more…that’s been the thing to do so far…so far the correction in stocks has been a joke…meaningless for a DOW at 21,908…PAAS up 11.34%–any news?
Pan American Silver Corp. (PAAS) +11.34%
Wanka Address
From my bottomless file comes this:
j murphy
c/o conch coin
po box 5904
key west fl. 33045
Maddog
You maybe right. I was looking at silver futures. Gold does not look as good (could be an a b c correction completing soon). What’s more, my view corresponds to a likely worsening COT situation that may need to be worked through now. This is why I like passive stacking, because such talk is moot. If it goes down — buy more.
Buygold — I hear you. I think we are on the same page. But at the same time I think it’s all Kabuki. China does not want to rock the boat until its handlers give it the OK. Who knows — that could be soon if stocks and bonds do top out this fall.
Cheers
Gold Chart, This Can Not Be A Coincidence, One Month Up One Month Down, Repeat
What are the central banks up to? Why would they do that?
Kabuki
Tend to agree that this is all theatre, maybe just an excuse to let some air out of the SM. While I agree there’s not likely to be a war, it doesn’t appear there will be resolution either.
The China vs. India situation might actually breakout first.
Regardless, the shares aren’t really buying the rally so I don’t think we get past $1300 unless some shit really does hit the fan. Doubtful.
Captain Hook
Re E wave…..what I see …both Au and Ag have done 5 up from July 17 lows and then 3 dn recently …this jump up shud be a mini 3rd and strong action cnfms.
That means the move from Jan ’16 to July ’17, was 1st and 2nd of 1st of Cycle 3rd…now we are in 3rd of 3rd of 1st of Cycle 3rd and action cnfms…so far.
In short doubt we see too large a correction for a while yet.
Cheers
Equisetum
Great idea.
That said, be careful about buying here (especially the shares), because this recent bout of buying is the result of more North Korea Kabuki, where Kim is a CIA construct armed (nuclear) by the Clintons in the 90’s (for which they were well paid). Because this latest round of escalating Kabuki (to get speculators to buy more equity puts and justify their existence) should be over soon – again meaning be careful. (i.e. because there’s no way Trump or Kim will let nukes fly.)
That said, if I’m not seeing things, silver just put in a bullish five-wave impulse (as a result of this latest rally) within the context of the extremely bullish monthly close last month, meaning once we have an a – b – c correction some time over the next month or so, it could (should?) be off to the races as we move into next year.
Cheers
Post-it reminder, Thur 10th.
Stop for P. butter, pickles, milk, marg. listerine. Pick up Ag rounds
Maddog-I hope u r right–and, yes, the hands of the FED & PPT are definitely in
evidence–as I write I see they are trying to turn stocks and PMs–actually a rally now in stocks could turn out to be quite bearish if it fails and we get a good sell off the last hour or so…I am giving my JNUG every benefit of the doubt and lowered my stop to break even.
Richard640
The PM shares are too thin to knock down, so u can buy, look at Nem the other day, or PAAS tdy…that’s what happens when u get serious buying. The shorts are dead meat here if they try to cover, they may as well get the short sword out, it would be less messy !!!
Their only hope is the scum, who are very much around sitting on the likes of Nem and GG, which stops the Hui getting any traction/headlines.
MADDOG=Comex gold just made a new high at 12.93–and JNUG is getting pounded–so are other gold stocks
same ole action but I think it’s not gonna work–are they shaking the tree so tha they can get long at a discount or is this just capping? My stop is set-I watch and wait–looks like stocks may not come back today–I think there’s a chance for a mini-black Monday as the traders in the Hamptons fret and pow-wow over the weekend.
Alex Valdor @ 9:47
I remember Ghaddafi’s nose getting bloodied very well … and after that he reined in all his terrorist support.
No one knows how NK would respond to a limited strike. Seoul or parts of the USA could get nuked. I’m hoping some insider takes him out, although as Maddog was saying yesterday this would be difficult task.
Cheers
Morning Buygold
Re shares…..someone is sitting on ALL Juniors…both GDXJ and SGDJ are up jack for the metal move…I wonder if the Ultra short boys are trying to hold them back….cus they are in a world of pain if they have to cover serious Vol…with NO sellers.
Morning Farmboy
Yes, I do think that we need to see the shares really breakout to confirm this is nothing more than a war drum bounce that will fade as soon as peace breaks out. I did see that the China-India saga on the border is heating up as well.
Last time gold was up around these levels the HUI was approaching 220 – currently sitting at 196 – not good.
Nice to see a little fear in the SM though. VIX now up 3 straight days.
IPSO – re: new poll
Appropriate in my view .
I would like to see our military do something of the order of what was done in Libya in (1986 ?) . Libyan fighters were threatening our air force flights in the Mediterranean , claiming extended territorial limits . Reagan launched a surgical strike in which a missile ‘found its way’ into Ghaddafi’s bedroom window after a strategic phone call was made warning him to get his family out of the palace post haste . He pulled in his horns about territorial limits in the Mediterranean after that , as I recall . Of course the ‘International Community’ was enraged . France wanted him removed , and forbade our military to overfly France during the strike . Ghaddafi was left in place as a neutered pussycat for a couple of decades until Hillary screwed things up to put the Muslim Brotherhood in his place .
I think with our more modern military technologies and satellite surveillance , we could surgically upset the next ICBM launch ( blow it up on the pad ) while Fat Boy watches , and perhaps take out his Mercedes limo in the parking lot at the same time to send him a meaningful message . That would certainly be better than a lengthy repeat of the SNAFU in Korea in the 1950’s – although the DC Establishment and their Military-Industrial Complex buddies would prefer a more expensive route – in dollars , but also in lives .
FYI-[klik to enlarge chart]
Rick’s Pick for Thursday
Calculating the Risk of War
Updated Wednesday, August 9 at 6:05 p.m. EDT
I once joked here that it would take an outbreak of nuclear war to slow down the buying that has impelled this bull market relentlessly higher since 2009. We now know that even a credible threat of a nuclear attack on U.S. soil is not sufficient to deter buyers for long. Late in Wednesday’s session, short-covering bears couldn’t wait to get ’em back. Their panicky buying, even as Kim Il Un was threatening to nuke U.S. air bases in Guam, turned what had been a badly losing day for the S&Ps into a small winner
A Dangerous Stalemate
Will the short-covering panic continue? I have my doubts stocks can go much higher unless the conflict with North Korea is resolved peacefully, and soon. But neither do I expect the broad averages to plunge anew unless the threat of war escalates. That can happen in two foreseeable ways: movement of troops into battle positions, or the launching of a nuclear warhead by North Korea. The U.S. seems unlikely to strike pre-emptively because that could provoke a retaliation that would put millions of lives at risk in Seoul. Even so, Trump will have to respond to Kim forcefully because no leader, even those of China or Russia at their most menacing, has ever made such pointed threats before. Iran is surely watching closely, and a soft response from the U.S. could leave the world in even greater jeopardy than it faces solely from the psychotic despot who rules North Korea.
Good morning Oasis …. MUX buys Black Fox Mine from Primero
Primero Announces Sale of Black Fox Mine and Complex
Buygold, I’m With You,
Show Me The Rally ! Need to see some excitement in the PM stocks to confirm. Fingers crossed.
Moggy @ 20:21 Moggy and All
Wanka suggested we use the Tent-A-Thon address to send him notes and cards. I scoured the Tent-A-Thon archives and found those two addresses that I posted. If I, or anyone, can confirm a current working address to send him mail I will post it. Sorry about that folks!
Last I heard prayers are still getting through. 🙂