Loading ...“I would think if the DOW has another 1K pt. down day today, the Fed may start to panic.”
If you look at the Dow chart I imagine they probably are already panicking! I don’t think we’ll see any tightening for about a 100 years!
out for a bit
Ipso
Well, in 2009 gold went down with the SM. We’re not seeing that, at least yet anyway.
What’s frustrating here is that when the SM ticks back up a little, gold ticks down, but the shares don’t tick up with the SM. That smells like classic scum action.
I would think if the DOW has another 1K pt. down day today, the Fed may start to panic.
Buygold @ 10:33
The dinero coming out of the SM has to go somewhere. Maybe some of it will find it’s way into our sector? I dunno. ( “I dunno” should be my motto. If I had a shield I’d print it on the front … and on the back in case I forgot.)
Talk about sucky!
SM investors I know say they are not going to stick around a la 2008-09.
R640, Ipso
Hook has been making the liquidity argument, ala 2009. the problem I have with that argument is that back then the HUI was at much higher levels. Now the sector is so tiny, just how much liquidity are they going to squeeze out vs. tech or something else in the market. Lastly, the biggest source of liquidity would be found in GLD, yet GLD continues higher.
So far I guess the liquidity argument is correct? My sense is it may have a lot to do with what’s going on in silver as well.
Ten Yr. down to 1.27%
Richard640 @ 10:18
Hope you’re right Rich. Us PM investors deserve a break!
A Wollie poster=
Thanks for all the CLX data. I know you’ll be selling puts down here like crazy.
I note that the 5 day cumulative TRIN finally went over 6 yesterday.
The up move is coming !
Why is this? So that the arms manufacturers can make more money by making the world a more dangerous place?
US rejected key talks on extending soon-to-expire treaty that limits strategic nuclear arms – Russia
Ipso-Buygold–gold is up$13 and the HUI is down 2…This is a classic RL640 buy signal…A guys gotta follow
his indicators even if his tape readers intuition tells him not to…I might just have to pick up some gold coverage today…JMO–DYOD….seriously folks…take my wife….actually my indicator has a spotty record but I have seen shares up following the divergence we see as i write…
Mining shares look like shi* once again
Perhaps the SM debacle is finally spilling over?
A poster over on Wolanchuks site..YM1! (DOW) Count Update. Here’s a wave count for this nasty decline. I think its in the final leg. Breeze
ya can’t see it on the chart but he has the 5th wave ending between 26,100 and 26.400–which is where we are as I writ
Don’t know if we will see it or not, but the 200 day SMA on the ES is 3024.23. This would roughly coincide with the July 2019 highs which preceded the August sell-off and the Sept 2019 highs which preceded the October sell-off.
We are currently at the 3064 to the 3067 area which happens to be the 9 month SMA and a monthly fib support on the S&P cash. Everything is moving slow motion so it is somewhat difficult to gauge. There has been little enthusiasm in any of the mild rally attempts on the way down here since last night’s scorcher off the 3091 level. . Buyers seem to have thrown in the towel for now.
On the RTY there is a convergence of several different types of Pivot supports between 1511 and 1515. If this minor 1525 support falls, I will take another shot at 1515 area
There are several support areas all bunched together down here on both the S&P and the RTY.
I usually do not hand out these numbers but I know many people are very nervous right now, so there is hope on the near term horizon, or so it appears. As always, any new positions should be stop protected especially once you get a little distance between your entry point and the market. . NEVER let a profit turn into a loss.
Cheif is also getting more positive on things in here, so check him out on Alexa for the final word.
***************************************************************************
YM1! (DOW) Count Update. Here’s a wave count for this nasty decline. I think its in the final leg. Breeze…[ya can’t see it on the charts but he has the 5th wave ending between 26,100 and 26.400–which is where we are as I write]
Gonna look stupid if the price keeps going up
OceanaGold Enters Into $78.5 Million Gold Prepayment Arrangement
MELBOURNE , Feb. 27, 2020 /CNW/ – OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the “Company”) is pleased to announce that it has entered into a forward gold sale arrangement with the support of members of the Company’s current banking group whereby the Company will receive a pre-payment of $78.5 million (approximately $1,635 per ounce) on February 28, 2020 , in exchange for delivering 48,000 gold ounces between September and December 2020 . The advanced gold ounces sold represents just over 30% of expected gold production across that period and 13% of the Company’s total 2020 full year production.
https://finance.yahoo.com/news/oceanagold-enters-78-5-million-083100877.html
SPX 200-day MA
It only took 4 days to get here. If stocks don’t bounce here Monday could be like the 1987 crash.
Hopefully that wakes some people up and they start buying gold and silver again.
Cheers all.
Morning newtogold
Thanks for the link. I’m about half way through but Janda has a really interesting theory, especially in that the Coronavirus is primarily affecting Asians and smokers or people susceptible to lung problems. When you look at the countries taking the biggest hit, it makes total sense. China, Japan , South Korea – all Asian with a huge population of smokers.
Thanks again.
Looks a little like yesterday
except the SM futures are down pretty hard. Ten Yr. down to 1.28% – yikes. USD getting hit pretty good too.
Once again we’re stuck with seeing if our premarket gains in pm’s and the shares are going to stick.
The plot thickens…
Anyone worried about reputable bullion sellers going broke.
There is one place won’t mention names I e bought plenty of pieces here and there including for gifts.
When Burmeister “spelling” last year or so wanted to sell off a few last pieces I mentioned this place to her. I decided to do a check first since I never sold anything to them although you could and seem to give fair quotes.
Someone posted they were filing bankruptcy. I called her back told her to put ahold on that just Incase.
They’re still going along seemingly with no problem.
I wonder if a time will come where tptb drive reputable dealers out of business.