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Blue Train
https://railpictures.net/photo/807444/

Well I miss JD writings for sure ….. and for sure he made some amazing calls …….

Missed his  MJ recs because I was dead against it, same for Bitcoin ……..

I love to hear from all you “old dogs” ……. who were subscribers like me (even longer ) ……

More Dines Quotes ……. “who ever said life would be fair”

Two horrible down days for gold Ugh …. we have seen this kind of action lots of times

I like, on days like today, ………   to add to my  stack of motorcycle parts ……  🙂

Good evening Friends

Winedoc

An old friend still has it, he told me the new guys are like all these services now, they give you a broad overview of the markets and sectors but to get their newest, hottest recommendations you have to watch their video and pay more money for the deluxe letter. And, they do a lot of penny stocks, primarily mining and metals and cryptos,  I will not renew.

the scum will be very happy looking at those charts…we are right little Michael Angelo’s, they will be thinking.

and all of this based on the idea, they can raise rates even more…..which is pure wishful thinking, as with their debt levels that just can’t happen and that ignores the fact that the economy will crater and then they will be back to printing…which is all they know.

So this correction will just load Richard 640’s slingshot…..

When I first got into gold and silver, my “first year”, hit a couple good calls, portfolio was way up. I thought, this is the place to be….20+ years later, still waiting for another one of those years.

So Dines, then down the rabbit hole of gold, silver, money, currency, the creatures that run the world, then aliens etc. LOL

As I always have to tell myself, patience.

Today really stinks!  And I had such high hopes for an up day.

MG

I hope you’re right, a short, sharp correction, two or three days max.

If this is the real deal bull rally, that’s what will happen.

Moving down on heavy volume. Hoping the 50 dma holds on GLD, maybe just below it? SLV – Hoping the 200 dma holds there another buck or so down. HUI 220 wide open for a test now. HUI has been leading and needs to show some leadership and snap back first and maintain that uptrend with a higher low.

RSI’s 40 or below, an odd place for a selloff to begin.

Pretty brutal day. SLV has really gone sideways for the last two months, it’s a wonder the shares kept pushing higher. $24 is a huge line in the sand for someone I guess.

These selloffs always seem to go deeper and further than I ever expect.

Do shorts have to cover their shares in pm’s? Could use a little covering in the last half hour…

The News must have spooked those highly margined futures players into dumping all their long phantom gold silver contracts, afraid to go thru the weekend. There are probably other futures players with balls buying up the lower contracts.

with all the rallying we’ve done, gold never had a $50 up day. Elevator down as usual.

They destroyed the charts which were so ridiculously bullish.

USD and rates screaming higher.

It’s still the Chinese New Year, no help there.

Where do we go from here?

My friend and I got it because he got everyone into PMs first in the 1960s, and he was going to flash the MAVOOGAS, the much vaunted all out gold and silver sell signal. Unfortunately, he flashed it about a year or two, too late. He was good at getting people in early on great investments, but consistently too late, or never on selling calls.

I remember I got a mailgram in June 1982, to sell all inflation related assets and go into the Dow at 796. A perfect call, a 14 year Dow low. 21% rate peak. Dow under 1000 from ’68 to ’82. (as rates climbed 4% to 21% prime rate after dollar gold cut off) He also said, he never saw such a rare situation and recommended 30 year gov’t bonds paying 16.8%? for 30 years with no call back provision.

So from 1981 to 2000 and the Dollar up to 120? I think, they started a deflation in metals after 1981 until around 2000, Gold $800 ’80 peak to $250 ’01. I knew in 2000 that the USD was too high and they had to drop it. Steel and lumber was too cheap shutting businesses, and they put a tariff on them until the lower dollar raised the prices. Thats when I started getting back into mining stocks, 2000.

AS the Dot coms were busting in 2000, the miners started climbing. Then a recession, attracted the terrorists wanting to attack during a recession and the Fed lost control of all the metals after 9/11/01. And here we are today. $250/oz to $1,876 today.  A 10% annual straight line. $250,000 to $1,876,000 on a buy of 1000 ozs in 2021.

https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator

I dropped the Dinesletter after he died. I suspected somebody else was writing it. Or was training a son in law or something.

It was Howard Ruff that got me interested in PMs. “The Ruff Times”

That was quite some time ago. We were supposed to fall apart then …

I once sent Dines a note wondering if he would put all those “isms” onto a poster. Would be a neat reference on the office wall.

I met him a couple times, very nice.

Not so sure about the firm that has taken over his client list, not a fan of how they put out information/recommendations. Going to let it expire.

Was a TDLer since 1999. He had some great calls and it was always a pleasure to read.

MG

LOL I’m sure looking forward to seeing that state of the union speech!

I’m sure it’ll be a masterpiece.

Good points. And this all happens a week before Mr. Magoo has his State of the Union speech…..how convenient….

We all know they don’t like high gold prices. So the Fed announced a wimp 1/4 point .25% hike on Wednesday, Obviously afraid to do 1/2 or 3/4point, so Thursday Gold gets brave and jumps $30 almost to $1,980/oz. So the job numbers are like a full 1% rate hike effect.

Then today they announce crazy high new jobs numbers, that “say” or imply, rates will go a lot higher, and push Gold down $88 from the high to todays low. Crazy highs and crazy lows are common in many things lately.  I see a big jump in the USD today too.

So Gold has been chasing the Fed so the Fed throws a chair in front of it. LOL.

I’ve been noting for years a lot of unneeded fake jobs created out of thin air. But Like I said from 2008, they have to bring jobs back and that trend started during Obama after 2008.

https://finviz.com/futures_charts.ashx?t=GC&p=h1

I find it hard to believe the Gold rally that started in November is over already?

https://finviz.com/futures_charts.ashx?t=GC&p=d1

A lot of damage has been done…..

https://www.zerohedge.com/covid-19/scandal-would-be-enormous-pfizer-director-worried-about-vax-induced-menstrual

Norway Finds Rare Earth Metals That Could Make Europe Less Dependent On China

Norwegian scientists have made a discovery of rare earth metals in the country’s northern region. The findings have the potential to transform the country’s economy and secure its place as a major player in the global market for high-tech and green technology. Furthermore, the findings could make Europe less dependent on China for the critical metals.

https://www.zerohedge.com/commodities/norway-finds-rare-earth-metals-could-make-europe-less-dependent-china

* Vice Admiral David Beatty at the Battle of Jutland 1916.

Demented babbles on Feb 7…no doubt he will be crowing about the great economy, he has ‘created’……look at all the jobs etc.

i-80 Announces US$50 Million Convertible Debenture Private Placement

https://finance.yahoo.com/news/80-announces-us-50-million-223000311.html

Snowline Gold Intersects 363.5 M Of 1.4 Grams Per Tonne Gold from Surface Including 129.9 M Of 2.0 Grams Per Tonne Gold at Its Valley Discovery, Rogue Project, Yukon

https://finance.yahoo.com/news/snowline-gold-intersects-363-5-120000344.html

Osino Receives Multiple Project Finance Offers For the Development of the Twin Hills Gold Project, Namibia

https://ceo.ca/@globenewswire/osino-receives-multiple-project-finance-offers-for

Reyna Silver Announces Further Upsize to Previously Announced Bought Deal Financing

https://ceo.ca/@globenewswire/reyna-silver-announces-further-upsize-to-previously

Silver Mountain Announces C$8.1 Million Bought Deal Prospectus Offering

https://ceo.ca/@newsfile/silver-mountain-announces-c81-million-bought-deal

Discovery Silver Graduated to TSX

https://ceo.ca/@globenewswire/discovery-silver-graduated-to-tsx

doesn’t compute. 517K Jobs created vs. 180K estimates – that’s a huge beat.

The talking heads are pointing out some anomalies that don’t add up.

Regardless, the damage has been done to the metals, $1900 in the frying pan.

Let’s just hope this is a short, sharp pullback before resuming higher.

Powell/Fed speaks and Gold falls apart…..anyone might get the impression he knows what he is doing.