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S&P 500 weekly close

Posted by redneckokie1 @ 23:00 on August 2, 2019  

S&P 500 weekly close is below the previous six weeks closes. Looks like a major correction may be on the way.

rno

Economist David Rosenberg toda

Posted by Richard640 @ 22:31 on August 2, 2019  

Eric Rosengren is chasing a lagging metric. Hard to fathom. It is the mfg workweek that is part of the index of leading economic indicators, sinking 0.7% in July and has shrunk at a 2% annual rate in the past 6 months. Only 1 other time since the Great Recession has this happened

Payroll report: flat average weekly earnings; three months in a row of downward revisions; 0.3% slide in the workweek; contraction in factory hours and overtime. What’s not to like?

 

https://twitter.com/EconguyRosie

treefrog–Kee-rect=208.65–here. is. the best link for the HUI

Posted by Richard640 @ 22:27 on August 2, 2019  

https://finance.yahoo.com/quote/%5EHUI?ltr=1

hui=looney toons

Posted by treefrog @ 22:09 on August 2, 2019  

hui is showing over 8,700 !

this has to be a glitch.  does anybody have the real number for today’s close??

 

the one day chart at bigcharts indicates something like 208.75 .  that seems more reasonable.

COTs-I see the gold commercials unusual action as bullish

Posted by Richard640 @ 17:30 on August 2, 2019  
The Commitment of Traders Report

Silver

*The large specs increased their long positions by 1,153 contracts and reduced their shorts by 8,383 contracts.

*The commercials increased their longs by 2,481 contracts and increased their shorts by 10,259 contracts.

*The small specs reduced their longs by 404 contracts and increased their shorts by 1,354 contracts.

The commercials are now net short 83,916 contracts.

Gold

*The large specs increased their long positions by 333 contracts and decreased their shorts by 2,805 contracts.

*The commercials reduced their longs by 34,621 contracts-[fear rises with price-disbelief in the bull] and reduced their shorts by 34,493 contracts.[indecision-but if it keeps going up, don’t wanna be caught short] 

*The small specs decreased their longs by 8,774 contracts and reduced their shorts by 5,764 contracts.

The commercials are net short 287,967 contracts.

The JP Morgan crowd continues to get more short silver. What stands out in gold is what Harvey O and James Mc have mentioned, and that is a reduction of spreads in the commercials category. 

here’s the 5:15 pm gold close as per the FOX feed=FRIDAY—DEC GOLD 1452.50 UP 20.10

Posted by Richard640 @ 17:20 on August 2, 2019  

Yes, we’ve seen way worse

Posted by Buygold @ 17:17 on August 2, 2019  

I’ll take my chances and think next week will be solid unless there’s some miracle China trade deal over the weekend.

COT is interesting, especially in gold. Not that it matters.

Hopefully we’ve let out enough air this week to get moving higher again next week.

Maddog–Yes, today. was frustrating…but. I accept it. as part of the. PM game…since u. last posted

Posted by Richard640 @ 16:06 on August 2, 2019  

the. 10 yr note is 10/64ths-…the $. index is. down .279…stocks are weakish going into the close…gold’s firming a bit…nothing has changed regarding the “inevitability” of. gold…there is. no event that can resolve the zero-bound/infinite debt problem…which is now in the “full recognition” stage…O, sure, some. type of. inadequate tariff deal could pop up…but odds of that are…nil…actually if stocks. come charging out. of the gate sunday nite and continue. monday…what’s the problem? Gold and. stocks went up together. for 6 weeks with the $ firm…I don’t want to be smug…but. I’m willing to give. gold the. benefit of the. doubt…bottom line: I don’t know if I’m gonna make a zillion bucks but I sure don’t want to be out. of gold. under the urrent macro. set up.

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

China’s UN Envoy Says “If US Wants To Fight, We Will Fight”, Warns Beijing Will No Longer Allow Hong Kong Protests

Hong Kong protests are “really turning out to be chaotic and violent and we should no longer allow them to continue this reprehensible behavior.”

Great weekend one and all

Posted by Maddog @ 15:48 on August 2, 2019  

Seen way worse….but miles to go yet…..and the No Follow thru rule was in action all day.

Watch what happens

Posted by Maya @ 15:47 on August 2, 2019  

The Empire is Coming for Tulsi Gabbard

 

OK – what used to be the worst hour of the day….

Posted by Buygold @ 15:04 on August 2, 2019  

lately has been the best!

Let’s see if we get a Friday afternoon gift.

Sprott weekly wrap up

Posted by ipso facto @ 14:43 on August 2, 2019  

You guys remember the panic about rare earths with China?

Posted by Buygold @ 14:32 on August 2, 2019  

Glad we didn’t chase that headline. I guess it’s not a problem anymore.

https://stockcharts.com/h-sc/ui?s=REMX

Hey Maddog

Posted by Buygold @ 14:28 on August 2, 2019  

Yes, the miners are a tough game. When they get going they can make you rich but more often than not they break you.

I’m sticking with GPL, they’ve done well for me in the past and my cost is about $.90 this time around.

Biggest regret in the last 17 years as far as the shares go is not putting everything in RGLD and just leaving it there. It would’ve been fine.

Looks like we’ll need a strong last hour, hard to believe the PPT will mount any major rally in the SM going into the weekend but stranger things have happened.

Seems we’ve made it through what could have been a really dangerous week with relatively little damage. A rough road ahead for the SM might mean good things for us goldbugs. For the first time in a long time gold seems to be a safe haven.

R640

Posted by Maddog @ 13:03 on August 2, 2019  

The PM stox ain’t too bad here, as Au is up only a couple of bucks from the 3 pm close….44.70 versus 47.20 and with PAAS under the cosh today for the temerity to explode ystdy and NEM pulled back by 0.5 %…the action aun’t too bad.

Plus SM can’t hold a bid, the Dollar near ther days lows and Bonds going bid again…we may yet run….especially if the dealers still have metal to buy, as it looks like they have.

12:25–Just got home…how did I know they would. sit on PM stocks? They never give it a rest-!!

Posted by Richard640 @ 12:37 on August 2, 2019  

As I said earlier–the obligatory intraday. pullback. in gold would be bought…so stocks are sat on with gold up$27….monday gold will be up 5 or 10 and the HUI will be up 5 pts….it all evens out  in the course of a bull mkt…the. hardest thing to do in a bull mkt is to sit tight and let the profits accumulate…the $’s down .244…bonds are green only. 3 or. 4 64ths…what’s not to like…Summer time and the livin is easy….

Sng 23:42

Posted by goldielocks @ 12:20 on August 2, 2019  

It’s obvious why they’re against election ID. They want to import votes because they lost and one of the reasons and are mad. They’re one world of ” poverty vs them” didn’t work.
Screw the people they’ll import them to stay in power. ACLU no longer working for the US.
Whether you go to the doctors, hospital get a drivers licence even welfare you need a ID. This is about enabling breaching our elections same as the border that has nothing to do with amnesty which is a scam to get in. It’s apower play. They’ll see this country go to hell they say before Trump gets elected. Actually that’s a oxymoron because that what they are doing anyways. A rat infested poverty ridden Boston or Sf , Chicago for every city, and our country goes in the toilet. Literally
Pelosis brother and father once ran Boston, then Pelosis got in moved to SF and spread their rats to Calif next.
The new Typhoid Nancy. The whole corrupt system there and here needs to be cleaned out.

Fun watching gold just float higher … trending towards it’s natural level.

Posted by ipso facto @ 10:58 on August 2, 2019  

Top 10 Gold intercepts June 2019

Posted by ipso facto @ 10:35 on August 2, 2019  

https://www.mining.com/wp-content/uploads/2019/08/TOP-10-GOLD-drilling-intercepts-june-2019.jpg

Buygold

Posted by Maddog @ 10:28 on August 2, 2019  

Re GPL…..I think it was Mark Twain who said that a Gold mine, was nothing more than a giant hole, with an even bigger liar on top…..I think we can rephrase that, to an even bigger cretin on top.

Even most of the silver shares aren’t getting crushed

Posted by Buygold @ 10:22 on August 2, 2019  

except my piece of shit GPL that did the bought deal – still, I think GPL is a great buy here and $.75 is THE floor

Great Panther Mining Ltd Price Target Raised to C$2.00/Share From C$1.65 by Eight Capital

12:13 pm ET July 26, 2019 (Dow Jones) Print
Ratings actions from Baystreet: http://www.baystreet.ca

Sorry for the advertisement, but GPL will get dragged higher with everything else eventually.

Other than silver which is sort of coming back, I don’t see how this action can be construed as anything but bullish for pm’s.

JMHO…..JMHO….JMHO…. 🙂

Metals React To Fed Shockwaves – Ready For Next Move

Posted by ipso facto @ 9:50 on August 2, 2019  

https://www.thetechnicaltraders.com/metals-react-to-fed-shockwaves-ready-for-next-move/

and here WE come…

Posted by Buygold @ 9:49 on August 2, 2019  

Silver is going to need some serious help but everything else seems to be cooperating.

I’ve got to get over all my positivity…

Buygold

Posted by Maddog @ 9:49 on August 2, 2019  

Looks like we got some SM selling around, that is foreign, as they are selling dollars as well, that shouldn’t hurt.

Could be a very bad idea

Posted by ipso facto @ 9:25 on August 2, 2019  

Hundreds of bees drop dead around ‘5G towers’ in California

https://www.dailystar.co.uk/news/weird-news/795681/Hundreds-bees-drop-dead-5G-towers-California-Sierra-Madre-video

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.