OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

Mandalay Resources’ (TSX:MND) mine in Chile is now completely flooded, including a shelter rescuers were hoping two trapped miners had reached, the officer in charge of the search said.

General Fernando San Cristóbal, head of the rescue team, said the results of a drilling probe conducted to locate the two missing miners found water at level 55, which is where they were supposed to be at the time of the accident and where the emergency shelter is located, EFE news agency reported (in Spanish).

A waterproof camera is expected to reach the area Monday, the officer noted, which will allow searchers to see the actual conditions of the section where the miners are believed to have been working.

cont. http://www.mining.com/mandalays-mine-fully-flooded-trapped-workers-unlikely-alive-chiles-army/

Concur on the shares. Better hold the HUI 180-185 level or it’s deep trouble.

$1250 gone again, $17.35 miles away again.

and the beat goes on….

Was up around 4;00 this morning looking at most of those same charts. Plenty of red warning flags using the 10/20 cross. Seems this could be a pivotal week for the PM’s. I was not encouraged. Seems to me we either a a quick bounce or things will get really ugly in the mining patch.

Have to take a friend to the doctors office this morning so will be out of the loop for awhile.

Thanks for posting that article. Lets hope for a reversal in the downward trend the charts are indicating.

Russia to treat US jets in Syria as ‘targets’ after America guns down first regime warplane

Russia has said it will treat US warplanes operating in parts of Syria where its air forces are present as “targets” amid a diplomatic row caused by the downing of a Syrian jet.

The country’s defence ministry said the change in position would apply to all aircraft, including those operating as part of the US-backed coalition.

It will also suspend a hotline between Russia and the US set up to prevent mid-air collisions.

The ministry said in a statement: “All kinds of airborne vehicles, including aircraft and UAVs of the international coalition detected to the west of the Euphrates River will be tracked by the Russian SAM systems as air targets.”

The warning followed after a US F-18 Super Hornet shot down a Syrian army SU-22 jet on Sunday in the countryside southwest of Raqqa.

http://www.independent.co.uk/news/world/middle-east/russia-shoot-down-all-flying-objects-in-syria-us-regime-warplane-isis-terror-a7797101.html

Precious Metals (and macro discussion)

Gold is weakening and in only inching (literally) above the April high has not made a qualified higher high to April. Therefore it does qualify as a double top as well. Silver remains technically bearish on the daily time frame as do all mining indexes/ETFs.

The weekly chart of HUI held below resistance last week and so it also remains bear biased.

HUI/SPX ratio nudged below the trend line. This does not mean the stock market is bullish, but if the ratio breaks down it could be another 2008 analogy.

Here is what I mean. Note that the 2 charts are not all that similar, but the main point is that in Q4 2008 (which also happened to be the very first 3 months of NFTRH’s existence), the last table pounding ‘all-in’ BUY on gold stocks came as they were crashing while their fundamentals were improving by leaps and bounds (gold rising vs. commodities and stocks, inflation signals non-existent, yield curve rising and systemic stress all around). In that circumstance gold stocks led the SPX to the downside…

…even as gold vs. stock markets was exploding upward.

While the Gold/Silver ratio (GSR) led the whole bearish shootin’ match.

The rise in gold vs. silver came in conjunction with the deflationary rise in USD.

And so, there is a reason we follow the 2 Horsemen (GSR & USD). The US dollar has been declining since last year and the Gold/Silver ratio has more recently popped above resistance (now support, which it tested a couple of weeks ago). The USD is also at the long-noted support zone in the mid-90s.

If the 2 Horsemen ride again, it is anything but assured that they will spare stock markets this time. But over the course of the post-2008 cycle that is exactly how market participants have been trained to think, and would-be bears – myself included – can be excused for having their doubts about the stock market’s potential vulnerability.

I am going to skip the daily miner stock charts this week. We’ll show some weekly charts in the NFTRH+ Notes segment, as usual.

The Daylight resurrection… then and now.
http://railpictures.net/photo/620210
http://railpictures.net/photo/616326/