DIA down .22%, QQQ down .26%, HUI down 2.85%, SLV down .1.1%,

GLD up .04% but fading fast, can’t have gold up in a down SM.

Funny how in down markets pm’s always outperform to the downside by a wide margin.

… on the Gold / Silver Ratio is just a touch over-extended (heavy on the sarcasm).

And open interest (OI) in futures for both gold and silver are coming down.

Metals Daily Exchange Volume & Open Interest – CME Group

Should find a bottom sooner rather than later … whatever that means these days. (~450K in Comex gold OI)

This is very good considering gold is still vexing $2400 and acting like a stallion today in spite of the algos and other crap the commies throw at it non-stop.

Cheers all

Day 4

As a subscriber to Michael Oliver , he attaches his sons Jr mining picks and he had Lion & Eloro  on his list.  The old man uses more momentum charts and he is more of  the type who  mostly buys calls on gdx , slv, and some sprott  au/ag funds.

His son had Eloro and Lion on on his list in late July and uses 40 week average on whether he buys them and most his other picks are under that 40 week avg.

Anyone that was new to pm Jr shares that I know and bought jr’s has already took their losses and ain’t ever buying them again.

Well, here’s one I just made up: “One man’s CRASH is another man’s PLEASURE”!

Stop crying and start buying….and enjoy the day with Silverngold! ;o)

EDIT:

is silver. That little mini-crash on Monday in the SM is already over (although I doubt it really is), but silver just keeps going in the tank. Silver is now in a bear market from the recent highs already. Geesh. Mission accomplished.

BTW – there was an interview with a Harris operative on FOX yesterday. He claimed that the Fed will be coming out with a .50 or .75 basis point cut in September. What the heck does he know?

…. for your insightful thoughts. And thank you Buygold and ipso for the daily insights that you both provide!

Eloro is collapsing because of two reasons.

Increasing political instability and the propagandized perception silver is still under control – and will be tamped down yet again. (it’s a high-cost producer so this is important)

And there is no arguing – with the recession not allowed to be announced due to the commies attempting to cover it up in order to get re-elected – it could be tough slugging right into early next year (with lags involved) – who knows. We still must go through the apparent discovery – yes Virgina – everybody except the bankers and their cronies are likely in recession – if not worse.

So, no need to print money – right?

Well, in case nobody noticed the yen carry trade debacle over the past few days has shot that theory, narrative, scam all to hell.

So let’s hope the CIA is unable to destabilize Bolivia in yet another soft coup.

That would really put a bee in Eloro’s bonnet.

The people of Bolivia are well grounded. But they are under a lot of pressure. Commodity prices must rise.

I am optimistic next year should be better.

Now let’s just get through another Fall crash season.

Cheers all

Looks like the BOJ pissed themselves over Monday’s crash and the Yen carry trade is back on for now. So, we have a little dollar strength that we’ll be fighting again. Metals getting a little (very little) dead cat bounce after getting smashed 3 straight days. Silver continues to be the dog that won’t bark. The pm shares are firm in premarket, at least until 9 am EST rolls around and they come in and smack us around.

10 yr. has come all the way back to 3.93% crazy action for bonds. SM futures soaring, after selling off toward the close yesterday. I suspect it will be reversed again today. Oil moving up nicely above $74. Bitcoin has recovered from $50K to $57K. And then there’s pm’s, the pox on humanity, but mostly on goldbugs. 🙂

Iran and Israel should be dropping some bombs pretty soon in the never ending middle east wars. Wonder how much they’ll hit pm’s on that news? How many thousands of points will the SM rally? SM loves war more than rate cuts.

What a life. What a world. Would most people choose this if they knew what it was like? Food for thought.

I know and agree. I just track the HUI, and simply to gauge where the metals may be going. The shares decimated me, the gains I’ve made in the metals over the years are not even close to the losses I’ve taken in the shares, easily wiping those gains out plus some.

I saw Eloro yesterday and had added it to my watch list when you mentioned it before, same with Lion One. Both of them like so many others have performed terribly. AG is almost a large cap, and it has been decimated as well, although they can blame themselves for that. I wish I had the answer to when they will perform, I don’t have a clue what it will take. There’s clearly no interest in the pm mining sector, even the big boys like RIO and BHP haven’t done anything.

The HUI as well. Here we sit at 287 hoping it holds 285, when it was over 600 in 2006! Can’t say that about any other index.

The frustrating thing is having to watch these endless corrections that come out of nowhere after we’ve had a little bit of strength. Even today, the SM is set to open higher and will at least initially, wipe out all the losses it had on Monday. PM’s of course, have nowhere near recovered the losses, silver is still down $1.50 on the week, gold around $50. The HUI hasn’t either, and won’t come close unless the SM continues to move up.

The manipulation and corruption is even more blatant than ever and just like our government, they don’t even try to hide it anymore.

This sector is a loser until it’s not. I so wish we had realized that 15 years ago.

She’s not stupid. “Unbeknownst to her”: yeah, right. I bet she knows exactly who the goons are!

For those who may be interested, an hour or so with Jim Willie.

He’s pretty much on track, and not shouting himself hoarse,

covers so many relevant topics.

if you click, go to about 13 min in to get to the meat.

Tokyo Speed demon
https://railpictures.net/photo/845828/

The weaponized tendrils of the deep state now have Tulsi Gabbard under surveillance for her conservative views. Four federal goons follow her on her flights, unbeknownst to her!
https://www.zerohedge.com/political/federal-air-marshal-whistleblowers-report-tulsi-gabbard-actively-under-surveillance-quiet

CO2 has ticked up by 50% since the year 1800. And sea levels have moved by ……. ? Can’t claim to have noticed much difference, but I haven’t been around that long. However, places that have long, continuous records like Liverpool show no change. A report from the Chinese of the Indian and Pacific Island groups that are raking in $$$$ to stop flooding (how?) showed that the overall land mass had increased. Curiously google earth data for these islands is many years out of date.

However, we are out of the mini ice age. The earth is greener than we have ever recorded, and producing more food than ever. I’m not sure this is a good thing, as it is supporting population growth – when the climate cools and the situation reverses, the famines will be catastrophic. but almost certainly not in my lifetime, or that of my grandkids.

….I agree that certain shares have been holding up here fairly well. But the ones I look at ( junior explorers; Elero, Lion One, Irving Resources, Eskay etc.) are getting absolutely decimated. And now these shares are continuing to get drubbed on extremely low volume ( Elero went down almost .07 today on one thousand shares).

The scum have succeeded in keeping interest in the junior PM stocks at very low levels. I should just completely write these things off, but it’s very hard to see them go to zero. End of rant.

HUI back above 285, which should be support if you believe support is actually possible in pm’s?

Trying hard to hold $2400.

Have to think the bears are reloading in the SM today, yesterday was too violent to just go away quietly.

the sooner all these things come together, the better.

They’ve done a heck of a job papering over yesterdays’ mess around the globe. The QQQ’s are barely down now over the last two days.

They’ve done a good job keeping people out of pm’s. Endless losses have a tendency to do that I suppose.

War is coming. Chaos is coming. Financial turmoil I suppose is coming. Things can’t go on like they are. Everything is coming to a head and it has to be soon. They want war both here and abroad and will steal another election (or worse) to make it happen. (Hope I’m wrong!)

I don’t think gold will save us brother. The stakes are much bigger than just money now. This war is being fought here on earth, but the real battle is in the heavens, the dimensions that reside outside the 3 1/2 we live in, and it seems we are powerless to stop it. The best thing we can do is get our spiritual houses in order.

Jim Quinn of the “Fourth Turning” has a really good article on ZH. He is on the mark and describes what’s happened and what’s coming, but he leaves the spiritual out.

Jim Quinn: Everybody Knows

… no that’s Minesota … soon to be the USA if the commies get their way.

Breaking: Kamala Harris Picks White Bread Minnesota Governor Tim Walz as Her VP Pick for Some Reason | The Gateway Pundit | by Jim Hoft

Very predictable.

Let’s hope they don’t steal the election again.

That would not be good.

America would likely not survive.

Armed Migrant Gangs Stalk UK While Government Cracks Down On Native Brits

Nobody knows how far this will go in the US with the public still well armed – but they will try.

Best to fight for your country and future before it gets to this point.

Cheers all

Good to hear.

But it looks like the storm in debt won’t be so easy to get over if the breakout in credit spreads over the past few days is any indication.

ICE BofA US High Yield Index Option-Adjusted Spread (BAMLH0A0HYM2) | FRED | St. Louis Fed (stlouisfed.org)   This is the correct link

This has been a key missing ingredient in keeping investors out of PMs since trouble started brewing for some time now.

Open interest on both gold and silver futures is holding steady despite falling prices, which is a negative, so PM prices may not respond positively right away, but it’s coming once the stars become aligned – again with a huge missing support pillar for the sector – credit spreads – starting to show concern.

Metals Daily Exchange Volume & Open Interest – CME Group

And it’s unlikely they will be able to smash them back down like they do with other indicators they don’t like.

Not this time of year and not under present conditions.

Cheers

Sorry, just saw your post. Yeah, all good here for me and mine.

House and pool cage held like champs, thanks to the Lord. Power was out for a couple of hours, no big deal. The wind surprised me, we had some 90 mph gusts come through.

Hope you didn’t get too much rain there.

shares aren’t horrible premarket, so maybe we’ll catch a bid as the day goes on

I guess the dollar matters today.

….it looks like Silver is the tool for the scum to stem the flow of positive momentum and to get Gold to follow along to the downside…..

Didn’t know the carbon had ticked up a tenth. 🙂

I agree with your previous post to Ipso as well. I’ve never understood why the people from Israel and the US somehow cornered the “semitic” term.

Many so-called Jews are not Jews at all, in fact a very high percentage are atheists. They are either Israeli’s or Americans. They might practice Judaism and be Jewish Israeli’s or Jewish Americans but to be Jewish implies they practice Judaism. But I digress. Your point that words can be changed to mean anything they want them to mean is so true. Whatever fits the current narrative.

Kunstler believes the Demonrats will be blamed for the whole mess, but by who? The media certainly won’t blame them, in fact they’ll twist things to blame it all on Trump. They are unbelievable in their deceit. We just had an assassination attempt on Trump that was obviously a govt. hit. There’s zero accusations of that. Just a propaganda arm of the Government.

Disgusting.