Finally.

Another leg down in the SM might even push gold over the $1260 mark.

Will be interesting to see if the boyz try to bring the SM back yet again or just turn off the algo’s and let it fall.

Zimbabwe contemplates restoring its own currency with gold backing

http://www.gata.org/node/17370

Re: SM meltdown affecting mining shares. I think that this is possible, may even be holding us back today … but in the longer run I think an SM decline will help the PMs and the PM shares. A falling SM implies a weak economy and that implies more loose money policies and negative real rates of interest.

Cheers

I’m with ya on the wider war scenario, although it sure seems the wider war may be more likely to come in the form of a Constitutional crisis.

Hoping you’re right about the shares. You sure would think that if this continues for a few days some buyers might show up.

The worry as always is that the shares and metals get sold with everything else in a SM meltdown like in 09′, although this time around the shares aren’t anywhere close to being overbought. Crazy.

I’m just hoping that Trump’s beleaguered situation doesn’t result in a wider war someplace. That’s the big question mark for me.

The performance of the PM shares has really been poor but I think it will improve. It’s a fickle public and they’ll come back like flocks of swallows changing course.

Hi Richard,

I had to laugh at myself – your 7:00 post described me perfectly.

It makes me sick to my stomach to watch positions that I finally puked up (after carrying them through thick and thin for YEARS) climb out of reach, while I wait to buy them back cheaper.

Who knows – maybe we have truly seen the bottom.

Someone way back on the old Gold Eagle Forum once said this would happen.  The Gold Bull will carry as few passengers as possible.

I’ll still be on the train, but not with as many shekels as before.

the USD/Gold ratio at 3x’s is holding up for a change.

USD down .51%, Gold up 1.63%

http://www.cnbc.com/2017/05/17/watch-speaker-ryan-and-house-gop-leadership-hold-news-conference.html

Sounds like a good strategy.

The USD is getting dumped with vigor and no one seems to be willing to step in and defend it yet.

Shares are still a problem. Wave after wave of selling comes in to keep them in check. To me it looks like they are going to roll over. They’ve got to confirm this move up IMHO.

There is an unlimited offer of 50K shares sitting on GDX $23.45 – 23.50

Trump should have gone after Hillary and Pedogate the minute he got into office. This will not end because Republicrats and the MSM will continue to throw him under the bus.

silver $17.

Had put the trading account in ‘Neutral’ last evening at the close, expecting some sort of pullback since volume in the miners was not impressive. Dumped most of the JDST first thing this morning, and added more JNUG, looking ahead to the next few days. What I am keeping an eye on, the two things I will base my trading on:

1.) See if the volume in miners show some excitement with todays jump in gold

2.) I fully expect the Cabal to defend the Gold 1250 marker with vigor. If they fail to beat gold down significantly below 1250 by days end, then I think we have ‘Lift Off’.

Another day, another dollar, and maybe a happy surprise.

Yes, it should. I would’ve thought that the criminals would have been happy enough with the Neocons and Goldman alumni that permeate and control his cabinet – but that’s just not enough for them.

The SM knows something – it always does.

If we get a series of selloffs like this we’ll know something wicked is coming.

If they succeed in ousting Trump, will his supporters riot in the streets?

I think it’s doubtful because most are working all day, maybe weekend riots?

Really bad situation if they pull it off. I guess they can collapse the economy and blame Trump and Russia….

Thoughts?

These shares really need to get moving.

The Globalist Elites don’t try to ‘impeach’ one of their own. What is currently happening should put to rest the rumors that Trump was ‘won over’ to the dark side. More like, they are going to try anything and everything to ‘take Trump out’.  America has never faced this level of High Treason. Ever !

Nice way to wake up. Who was expecting a nice rally today?

Shares having some proving to do still but survived the first “sell out of the gates attempt” We’ll see. Here comes another one.

No doubt they are trying to remove Trump. Hope he can make it.

[this is exactly what I was trying to say]

by The_Real_Fly

May 16, 2017 10:32 PM

Steven Cohen, Professor of Russian studies at Princeton and NYU (an obvious Russian spy) was besides himself tonight, in sheer disbelief over the witch hunt of gigantic nothing-burgers that are being used to assault the Presidency of Donald Trump.

He declared, “today, I would say (the greatest threat to national security) is this assault on President Trump. Let’s be clear what he’s being accused of is treason. This has never happened in America, that we had a Russian agent in the White House. Cohen believes Flynn did nothing wrong by talking to the Russian ambassador, describing it as ‘his job’ to do so.

He then illuminated the indelible fact that there is a 4th branch of government, the intelligence community, who have been meddling in American foreign affairs, obstructing the other 3 branches of government.

“In 2016, President Obama worked out a deal with Russian President Putin for military cooperation in Syria. He said he was gonna share intelligence with Russia, just like Trump and the Russians were supposed to do the other day. Our department of defense said it wouldn’t share intelligence. And a few days later, they killed Syrian soldiers, violating the agreement, and that was the end of that. So, we can ask, who is making our foreign policy in Washington today?”

http://www.zerohedge.com/news/2017-05-16/professor-cohen-says-assault-trump-presidency-our-greatest-national-security-threat-

Riot Police on Venezuela’s Front Lines Seek a Way Out

“She and many of her exhausted colleagues say they are wavering as protests enter a seventh week with no end in sight.

“One day I will step aside and just walk away, blend into the city,” she said. “No average officers support this government anymore.”

https://www.wsj.com/articles/riot-police-on-venezuelas-front-lines-seek-a-way-out-1495013403

$1,250 in the rear-view mirror !!

in the media who even acknowledges it as anything of consequence is a disgrace and traitor to their profession & country’s democratic tradition–Trump needs to address the nation and say he is suspending daily briefings and stating that he and his staff will entertain no discussion of any of these matters–Comey. Russians etc

we’ve been warned about the “deep state” wanting Trump out–

The latest Trump-Russia leak suggests that there is a sustained effort to remove him from office.

• Trump has been sloppy and made many mistakes but this is tantamount to a coup.
• The attempts to push Trump out of office may be illegal.

http://www.cnbc.com/2017/05/16/this-latest-trump-russia-leak-smells-like-a-coup-attempt-commentary.html

He just lays it out there matter of fact. Enjoyed the calm,  and extremely timely,  presentation of the facts.

Good Job !

Little spit on the hands, getting up some momentum, and then we clear the 1250 Gold hump. Today?

Should get the eff out of manipulating whole markets in commodities. Why do government dickweeds always think they can control everything? This is a group of losers and I think they’re going to cause the United States to collapse

[approximately] 22 out of 25 up days….

yes….yes…I know…this rally UP TO NOW has been ragged and divergent–with stocks and ETFs outperforming gold futures–with each day gold being sold off the high yet clinging to a few dollars of gain–with silver under performing….this is why so few traders catch a bottom in gold…the charts always look scary with broken support and projections of 700 or 800 gold….and those that do, usually jump ship in the first 3 to 5 days as the rally looks like it wants to fall apart.

I am NOT saying this is anything more than a weak oversold bounce….but I would not be surprised to see this rally start an acceleration phase and go much further than I would think–with  more than a $9 gain so far as I write, today may  be the kick off….all gold rallies begin in  “hopeless & friendless-ville”.

JNUG has gone from about 14.20 to over $19 this morning in pre-market trading–a 30% move…figuring in the 4 to one reverse split, JNUG could hit $80-$100 if it equalled the $34 high of the last 12 months.