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…another chart guy that I like is named Clive Maund (although I fully admit that the algos have somewhat diminished the effectiveness of technical analysis).
A snippet of his latest….
Lastly, while the medium and long-term outlook for the sector could scarcely be better, we should be aware that it is overbought after its latest runup with somewhat bearish candles appearing on the charts late last week, especially on Friday. We should therefore not be surprised by a period of consolidation or reaction over the near-term. However, any such reaction, which is not expected to take GDX below about $43 – $44, will be viewed as a major buying opportunity.
The SM is saying Tariffs will fail and wreck the economy….which means that Trump cannot solve the debt issue….so why are rates falling apart, yes a weak SM usually means rates ease….but only in normal times …in a debt crisis rates only go up….Idiot Algo’s aren’t programmed for that….
The US mkts tend to lead the Worlds mkts……so who decided in the US to dump stocks based off Trumps Tariff decisions…..It sure wasn’t the general public, he is very popular and obviously trying to help the US economy…you don’t dump stox on that basis.
So the phones won’t be ringing off the hook on Wall st today as investors, tell their brokers to get ’em out, nor will people be dumping their 401 K stox allocations.
Which makes me think, this is a hit by the Globalists…whose Currencies are exploding …WHY ???????and as Buygold said…..the MSM will be screaming for weeks, about how Trump wrecked the World……
The Dollar move vs the Euro/UK is the one that makes no sense …The Euro’s want a war with Russia, are totally defence less…yet this move is saying the Euro/Pound is the safest bet, vs the Dollar…..when the US is armed to the teeth…..
Re BEF…..indeed…but remember we still had the worlds biggest navy, vast numbers of men in the army etc….what we didn’t have was any decent equipment as u say, it was only when the US came in, that we were shamed into making decent kit…like the Churchill tank, that could compare to the Sherman.
Plus Hitler was advancing all, over the place….Wheras Putin is only in Ukraine and peace talks are starting.
I think there would be some major resignations, from the Armed forces, if they were told to take Russia on …..Don’t get me wrong, vast numbers of people would cheer such a move …war would have started had we the forces…thank God we don’t.
What these times have shown me, is how people can go mad collectively and start wars, based on lies, …….once evil people get control.
And sent the BEF off under-equipped to be routed by the Germans resulting in that triumph of propaganda over reality, Dunkirk …. but hey, now we’ve got 260 warheads.
of course it’s the globalist banksters that are pulling the plug. It will be blasted all over the media for the next week how Trump’s tariffs have crashed the markets.
Problem is that the economic data this week has been surprisingly good in the US. Companies are hiring.
If he can right the ship with some short-term pain. God bless him.
Silver is hanging on, only down $.25. It was down over a buck for about two minutes.
There’s a discrepancy between SLV and spot this evening. Seems to be around $.20 in favor of SLV.
Gold still reigns supreme. Hope it stays that way.
Remember all those years we were told that gold crashed with the SM because traders had to sell their gold to cover margin calls in the SM? Must’ve changed this time around.
Re war…..Nobody in Europe has any armed forces worth spit….and what they did have in terms of equipment, much has been sent to Ukraine and blown apart….
The UK army is now max 75,000 men/women and that is counting everyone…..Russia has 700,000 just in and around Ukraine, not counting another 1 million and vast reserves……..I live under a major RAF flight path, we used to see RAF aircraft flying over us most days…now we see the odd helicopter and the odd transport plane…say once a month…..We have run our forces down to nothing….no way can we start a war.
Good commentary, maybe maddog has it right, it’s just gold that’s going to really benefit because of a revaluation, and silver only gets a little of that bump because it’s less monetary and more industrial, as Goldie mentions. In which case, for silver it’s going to boil down to supply and how big a problem that really is.
If Trump revalues gold, he’s not going to get much bang for the buck if he just revalues to spot. Seems if he wants to make a dent in the debt, it will need to be multiples of that. Even at 5X he’s only got around $4 trillion.
Whatever though, these shares gotta move at some point – one would think.
All that being said, if whatever is happening in the spot market right now continues, those shares will get creamed. They’ve pulled the rug on silver.
Take beef, for example. The US cattle herd is at its lowest levels in forty years. It’ll take six years minimum to recover, in the meantime import prices increase by at least 10%.
Or steel. When did America last build a new steel mill, or aluminium, or oil refinery (1970’s for the last one I think) – so not only will import prices rise by 10% minimum (much more if from China, SK, Japan, India, Finland) but if you reopen shuttered mills you’ll be running at a competitive disadvantage using outdated production techniques. Lose-lose on the inflation front.
Or IP. I worked for a company making specialised, patent protected equipment, best in its field bar none, essential to the running of, for example, your aircraft carriers but with multiple other high volume applications. We had American warehousing and sales offices. All that will now cost you another 10%, 20% for similar situations from the EU, and we wouldn’t be setting up a factory in the US because, if for no other reason, the stainless steel is only made in Finland which would then attract a 20% tariff!
Tariffs. Great theatre in the hands of Trump, but be careful of the unintended consequences.
I don’t know how far these drones can travel but people don’t look up. This injured Russian soilder just happened to be laying on his back when a operator of a drone dropped a grenade on him but he threw it before it exploded.
A slow down was in effect way before the tarriffs due to inflation getting out of hand and still is. Trump’s not looking at immediate hand to mouth games that run out with the money but the end of free rides with tarriffs that been ripping us off for years. But just like they used Covid to bury the debt crisis or perhaps the insurance policy to stop the angry citizens when they find out the swamp bankrupted the countries or this time using war. Lol
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