Probably a good move. I have to agree that gold could get to sub 1290. Hoping not but WTFDIK? – Absolutely nothing…

Not a bad day for the metals considering the persistent USD strength, but not a good day at all for the shares considering the metals strength.

The USD is up 1% this week and the metals have hung in there. The shares are listless and not confirming anything. The strength in the small cap silvers disappeared today.

One more day of the Chinese New Year, tomorrow could be really ugly or half way decent but somehow I doubt it will be “listless”

Most trade in the US market too…CPG, BTE MEG Vermillion, Tourlamine on and on DYODD.

Here Are The Most Shocking Proposals From Ocasio-Cortez’ “Green New Deal”

https://www.zerohedge.com/news/2019-02-07/here-are-most-shocking-proposals-ocasio-cortez-green-new-deal

I am looking to put some punting positions on in the shares, basis Gold sub 1290…..maybe the shares will lead this time….

One point is that the sector is so beat up, is there anyone out there to buy…maybe it takes the metal to really get going first, this time.

Very true.

We didn’t see much of a rally in the shares and that is concerning.

I have no clue what comes next

20 day moving average is 9.86.  Don’t panic.

rno

Yup Nem is doing ok….but all the shares are doing ok, in this pull back in metals so far…..However they never did great in the rally, in that they did not storm higher, leading the charge.

They are a puzzle here.

Your NEM has been holding up pretty well lately. What I’m hoping to see is the HUI reversing off the 160-165 area and not looking back.

Not sure if it will, but that’s what I’d like to see anyway.

to be followed by March BOTTOMS   example AG stock has a Seasonal high in FEB and a bottom in March.

In this metals Bull Market some may choose to ride out short

term dips others may try to trade them,that is difficult in this market volatility.

JNUG is showing some weakness also short term top @ 11.62 ..Last year I tried to trade the WPM fEB TOP AND ALMOST MISSED GETTING BACK IN IN TIME…i AM NOT A SHORT TERM TRADER ,YOU MUST WATCH IT EVERY DAY

i HAVE THE TOOLS and the proper signals ..There is lots of weakness showing up here .March is a very weak month for all stocks and after March bottoms we tend to drift into June lows just before JULY BANG up in Metals through the end if year ..My 80 year old eyes are getting to old to stay glued to the screen all day..

I fear being out of the Metals Markets more than taking a short term hit in this environment .WE are in a multi year bull market and are about to have a SHORT term hit in my opinion..Good luck to short term traders.

Re JNUG

GDXJ is 5 % above it’s 200 day Av…so JNUG could drop 15 % and mean diddly.

https://www.zerohedge.com/news/2019-02-07/wirecard-shares-sink-theranos-style-whistleblower-exposes-accounting-fraud

When a UK company Patisserie Valerie recently blew up, due to employee fraud, a professor of Finance, said the problem is the accountancy Co’s are corrupt from top to bottom….with no -one going to jail over the 2008 crash…I think we can say that there must be thousands of Co’s out there riddled with fraud……the SM’s may well be time bombs waiting to blow.

Looking at JNUG, wondering if you guys think it will hold at the 200 DMA around $10.30 or so.

So tough to call these things.

Re Dollar…all the chatter appears to expect a strong dollar, tks as u say Brexit and other Euro probs, like Italy….but they don’t seem to think it will hurt PM’s too much !!!!

Should the US use military force to oust Maduro?

No (88%, 46 Votes)

only covertly (6%, 3 Votes)

Yes (4%, 2 Votes)

I don’t know (2%, 1 Votes)

Total Voters: 52

The damn thing just doesn’t die and it looks like we need it to die if we hope to have a pm rally.

BRASILIA (Reuters) – Brazil’s mining agency plans to ban upstream tailings dams used for storing mining waste, a director at the National Mining Agency (ANM) said on Thursday, after such a dam burst last month, likely killing at least 300 people.

Eduardo Leão, a director at ANM, said the agency aims to issue an ordinance on Friday requiring that such dams be taken down or converted into other types of dams.

https://www.reuters.com/article/us-vale-sa-disaster/brazil-set-to-ban-upstream-tailings-dams-after-collapse-kills-hundreds-idUSKCN1PW1MY

One thing seems sure to me. The bond market isn’t buying the SM rally as yields on the 10 year continue to drop. What does surprise me a little is the strength of the USD although I guess it’s understandable with the Brexit saga playing out and the Euro and Pound so heavily weighted against the dollar in the USD index…

We’ll see what happens. If we do get to $1280, I hope it holds, if not, we’re probably in for another long year.

USD strong again this am, SM weakness may be keeping us afloat. I do like seeing us go inverse the SM.

I’ll believe the SM rally is over when ZeroHedge posts a bullish article. In the meantime:

That Italian auction was very smelly, I looked at the charts and rates were already going up, before the auction…plus I have seen a call for Italian 10’s to go over 4.00 % next, that is a 34 % move at tdys rates, a 42 % move on ystdys prices…..who the hell does that, who is either sane or not part of the rig !!!!

Lots of talk here about a coming Italian crisis, as the ECB/EU will push Italian rates way out, to try and wreck Salvini and the so called populists, as he has made it clear he is going to bring down the EU’s cozy club….and he/they have the voters.

Now this…..

France Recalls Ambassador From Italy After “Unprecedented” Verbal Attacks

https://www.zerohedge.com/news/2019-02-07/france-recalls-ambassador-italy-after-outrageous-verbal-attacks

As a reminder, Italy agreed a deficit target of 2.04 percent in December, averting a major fall-out with the EU, though this was based on a growth assumption of 1.0 percent. Slowing growth in Italy could make it harder for the country to remain within EU rules. As a result of the downgrade, Italian 10Y yields popped higher, rising near 2019 highs, which is notable because when the report first hit yesterday, markets were largely oblivious and instead were congratulating themselves on the 5x oversubscribed Italian 30Y bond that priced yesterday tighter than expected. Today is the hangover.

*************************************************************************

Interest rates could actually go down. Doesn’t mean it could but the message I got from that is as far on the other end is interest rates could stay the same or be a small hike.
Another caravan starting up in SA.I guess all this hoopla from Demos against walls is a invitation. Mexico is not liking it and knows how we feel now but a mayor there put a gag on the protestors social media.

1280 is an area a good Ewave analyst sees and u have some big Av’s @ there, the 65 week and 23 month are @ 1273.

Plus there has been no real reaction since 1160, so a decent pullback could be healthy……if we had a normal/real mkt !!!!

I agree. The left though is particular concerning. When the states were united it was under the constitution and rule of law. Many bodies one mind. People could have their own customs per state but United about being a American.
I saw how Abram was and it was happening in Florida too. The double standard didn’t work thank goodness.
Gov diversity means nothing without patriotism.
Yes both sides have failed us, both sides for sale in one form than another. That’s why we voted for Trump.
I went into a gold and gun shop today with Trump hats in the background. We had a interesting conversation.
The women in white your right they don’t represent purity but more like butlers or waiters on the Love Boat lol
It represented to me mockery of what’s good or pure along special interest and division. They’re trying to compare themselves with woman’s suffrage and making a mockery out of that too. Like I mentioned they want to put others on the hook to get a free pass and don’t have to earn anything. Our enemies would make short work out of them.
Notice how Pelosi worried about her own security after Trump canceled her free trip, but all for open borders and not ours. Exhagersted sense of self importance.

Thanks for the response.

I hope $1300 holds too, but knowing how gold reacts on pullbacks, I’m hoping $1280 holds. Once they get the ball rolling downhill, it always seems to go further than we hope.

I’d love for this time to be different, but I guess we’ll see. We’re definitely going to have to see that USDX weakness you are betting on.