For the past few years much the angst of many experts we have consistently stated that the markets were not ready to crash. From late 2016 to early 2017, many former Bulls who predicted the direction of this market quite well, suddenly decided that the stock market was ready to crash. We, however, begged to differ, and we provided two very simple reasons for our stance. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 2 June, 2017
Given the media's obsession with some of the President Trump's communication challenges, it was utterly predictable that the President's declaration that his trip to Europe and the Middle East should be considered a "home run" was met almost universally with ridicule. In truth, the President actually did accomplish a series of victories overseas, or at least laid important groundwork that should help advance American interests in ways that prior Administrations have failed to do. It's a shame that these developments have been ignored among the din of partisanship. Full Story
By: Adam Hamilton, Zeal Intelligence - 2 June, 2017
Silver has suffered a lackluster year so far, really lagging gold’s upleg. Sentiment is still reeling following silver’s crushing selloff from mid-April to mid-May. But that plunge was largely driven by extreme silver-futures selling by speculators, including a blistering spike in short selling. The resulting excessive shorts have left silver with excellent near-term potential for a short squeeze, which would catapult it rapidly higher. Full Story
Gold’s consolidation is just above the moving averages commonly followed, and which chartists use to define bull and bear markets. From breaking down in bearish formation in early May to find support at $1220, gold appears to have reversed its trend, and now sits on the cusp of a bullish pattern. The price is above both averages, and the 55-day MA has crossed the 200-day MA in bullish formation. The only spoiler is the 200-day MA is still declining gently, and for a true “golden cross” it should be turning upwards as well. Full Story
Arch Crawford, head of Crawford Perspectives, outlines his take on the US equities bull market. He's concerned by the lack of breadth / confirmation in the broader indexes, such as the NY composite and Wilshire 5000. Dow Theory is also flashing warning signals; the new highs are actually declining according to his analysis, suggestive of potential market manipulation. Full Story
Prices for silver and the NASDAQ 100 rise exponentially as unbacked paper currencies are systematically devalued. Expect much higher silver prices because the silver to NASDAQ ratio is too low, along with dozens of other reasons. Consider taking profits out of the NASDAQ to buy silver. Don’t expect to hear this suggestion on Wall Street. Wall Street benefits from higher NASDAQ prices. Wall Street benefits little from higher silver prices, with the exception of JPM which, per Ted Butler’s data, has accumulated a massive hoard of silver bullion. Expect Wall Street to promote buying stocks and discourage acquisition of silver, as usual. Full Story
Though many Americans aren’t feeling it, the economy is quietly gathering forward momentum. With consumers gaining in confidence and real estate heating up on both the commercial and residential levels, the U.S. economy is much stronger than it may seem at first glance. One reflection of the strengthening economy is the equity market, which is in the eighth year of a bull market since the bottom of the credit crash. The bromide, “As goes the stock market, so goes the economy,” is something that hardly needs explaining, yet so many investors lose sight of this cogent fact that it bears repeating. Full Story
The astounding results of a groundbreaking, scientific study just released, the first of its kind we know of, confirms a lot we’ve suspected about mainstream journalists. Journalists are different than the rest of us. Researchers found journalists’ brains just don’t work as well as yours and mine. That’s a polite way of saying journalists are dumber than you and I. Full Story
Alternative economist, John Williams of Shadowstats.com discusses the debt-asset based global economy. Our guest agrees with the conclusions drawn by a griping article, How Debt-Asset Bubbles Implode: The Supernova Model of Financial Collapse. The global economic system began its collapse in 2008 and is no longer fully solvent; a subsequent financial supernova is inevitable. Full Story
Once those basic concepts are understood, one can start talking about portfolio construction. In our industry, we differentiate between financial planners, asset allocators and portfolio managers. A do-it-yourself investor might be wearing all these hats simultaneously. To make it clear, I have nothing against do-it-yourself investors because they are engaged. I would much rather see a do-it-yourself investor who is engaged than someone who has lots of advisors, but doesn’t listen to them or manage them. Just like any outsourced relationship, hiring an investment professional requires management. Full Story
The additional reason for us to view yesterday’s move as something negligible is the size of the volume – it was relatively small, which suggests that “up” is not the true direction of gold and that the buying power is drying up. The volume was not extremely low, though, so it doesn’t have to be the case that the top is already in (especially that the USD Index hasn’t moved to 96.4 yet), but it does indicate that even if another move higher is to be seen, it’s not likely to be significant. Full Story
Tonight I would like to update some charts for Natural Gas and oil which appear to be building out a topping formation. If these patterns play out there is a lot of room to the downside we can take advantage of. There has been a lot of backing and filling, but it looks like this may be coming to an end and we may finally get the impulse move down. Full Story
By: Steve St. Angelo, SRSrocco Report - 1 June, 2017
After the crypto-currency, Ripple, fell 12% yesterday, it surged over 20% in trading today. Folks, it’s the Wild West out there in crypto-currency land. I have been spending some time looking into these crypto-currencies because there seems to be a great deal of mystery behind them. And I like looking into and solving mysteries. Full Story
Last night, I was telling my wife of the frustration the past five years has wrought on Precious Metal holders – or, as they call them in the Bitcoin world, “hoddlers.” It’s been far worse, and longer, in the “paper PM investment” world – as the Cartel has not only annihilated mining shares, but the mining industry as well; as not only have reserves been decimated, whilst mine production has – perhaps, permanently – peaked; but share counts and debt burdens have exploded, limiting shares’ upside potential even under the best case scenario – which fortunately, must inevitably arrive. Full Story
The U.S. and other nations with “free market” economies got credit for defeating the communists in Russia. That is ironic, because it is now more clear than ever that western leadership actually shares the Soviet inclination for central planning, and they have been increasingly intervening in our markets since the collapse of the USSR. Full Story
As the metals market has moved sideways now for the better part of 2017, many have become more and more fearful of the next shoe to drop. You see, the bear market of 2011-2015 has struck fear into the hearts of metals bulls, and their frustration is quite evident in many of the posts I see in the public articles I write. Most of the other analysts I read are also swayed by their own recency bias, some trend line they believe will send the metals to lower lows, or whatever factor they view as “controlling” the market. Full Story
By: Steve St. Angelo, SRSrocco Report - 31 May, 2017
The once Great Chinese Dragon Economy seems to be burning out as its economic indicators continue to weaken and smolder. One such indicator is China’s rapidly falling industrial silver consumption. At one time, Chinese industrial silver fabrication was consuming nearly a third of the global total. However, this has fallen considerably over the past two years. Full Story
It was a whirlwind week. After attending two big conferences, I landed in Vancouver Friday where I presented at the International Metal Writers Conference. Markets continued to close at record highs, even as political uncertainty remained and the threat of terrorism loomed large over Western nations. Last Monday, gold flashed a bullish signal we haven’t seen in over a year. Full Story
Volatility has gone brain-dead, as today’s chart makes clear. What this implies is that ‘everyone’ has bet the opposite or is hedged up the wazoo with puts, calls or straddles against a stock market melt-up or -down. Such an event is inevitable, but not on any time schedule that traders have been able to predict with any particular success. We’ve got a small bet down ourselves, having hit .666 in our last three at-bats. Full Story
By: Peter Spina, President, CEO of GoldSeek.com and SilverSeek.com - 30 May, 2017
Operating in an environment of low silver prices requires companies to exercise cost discipline and lowering costs which will allow the company to improve margins and free cash flow in periods of higher metal prices. Silvercorp Metals Inc. (TSX: SVM) (NYSE: SVM) released on early Friday morning its fiscal 2017 annual results and the company is reaping the benefits of a disciplined approach and setting itself to gain from any increases in metal prices. Full Story
Gold tends to become a rather dull market as the summer approaches. Will this year be different? The summer doldrums are caused by seasonal softness in Eastern jewellery demand, but the next major Fed rate hike announcement and commentary is just two weeks away. This Fed meeting appears to be a win-win setup for gold. Full Story
Bloomberg’s weekly poll of traders and analysts show the trending heading toward bullishness, with 10 bullish, five bearish and four neutral. Analysts point to concerns over terrorism, probes into President Donald Trump’s links to Russia and doubts that the Federal Reserve will raise rates in June, as factors that may spur investors to choose gold. Full Story
If we look at gold from the long-term perspective, it’s clear that it hasn’t really done much in the recent months – it’s trading in the $1,200 - $1,250 range, which is where it was in the first half of 2016, first half of 2015, for most of 2014 and in the second half of 2013. Overall, despite short-term and medium-term price swings, not much has happened in the past few years. Full Story
If I can show you that economists, central bankers and stock analysts are blind in the area of their expertise to the most obvious setup for disaster ever, then you’ll realize we are perfectly poised for potentially the greatest stock market crash in history. Many times in the past few months, I’ve heard these people say that the present bull market cannot crash spectacularly yet because we have not seen the kind of irrational exuberance that is required to set things up for such a crash. I shake my head in amazed disbelief as I listen to the most irrational nonsense about a stock market rally that was by far the most exuberant we have ever seen! Full Story
What is most amazing, is that those who are presenting a bullish thesis about the market now are doing so because they believe the "fundamentals are now supportive of the bull market." So, again, I have to ask a question to those who siphon information through an intellectually honest prism: The fundamentals did not support the bull-market thesis at the last market consolidation low region in February of 2016, but, rather, were suggestive of what most viewed as an impending crash. Yet, when the market is 35% higher, the fundamentals are NOW starting to support the bullish thesis? Full Story
When we had you on last you commented that you believed the market was pricing in President Trump getting virtually all of his policy agenda pushed through Congress, the tax cuts, repealing Obamacare, and so forth. To say Trump has encountered some resistance in Washington would be a major understatement. The establishment of the right doesn't seem to like him. The left and the mainstream media of course hate him. So, Michael before we get into the effects this will have on the markets here, first off, handicap for us the chances of Trump, based on what's been transpiring in recent weeks, miraculously gaining enough allies in Congress in order to get his initiatives passed. Full Story
Not only will the bear market in the dollar drive a new bull market in gold, it will also drive the bubble phase in stocks which will continue until a parabolic structure forms and then collapses. After that the inflation will move into the commodity markets. Full Story
Here we go again. In every cycle, destructive behavior like using home equity to pay off credit cards or take vacations or whatever starts to surge. And every time the banking/real estate complex trots out paid spokesmen masquerading as economists to explain that this behavior is perfectly safe because everything else is going so well. Full Story
John Scurci of Corona Capital Management makes his show debut. As Partner and Portfolio Manager, the JP Morgan veteran of Wall Street, utilizes decades of experience to better guide investment decisions. With US equities at a record zenith, Peter Grandich of Peter Grandich and Company advises avoiding paper assets, preferring the precious metals. Amid the cryptocurrency revolution where Bitcoin and competing digital currencies can climb 100s of percent, $100 invested in 2011 is worth millions. Full Story
Uncle Buck’s index is weak and the SMA 50 is crossing below the SMA 200. Before long we will be reading about it in the media. Now let’s consider a theme we’ve promoted for years; when the media trumpet a “DEATH CROSS!” * it is time to brace for the opposite implication to the media’s bearish promotion. Our view has after all, included a decline to the mid-90s for the index. Meanwhile, USD/JPY is decent right at the SMA 50, USD/EUR and USD/CHF are at lateral support and USD is at least neutral vs. the Commodity currencies. Full Story
You can make gains in gold if you bet successfully on the price moves in both directions. If you buy when the price is lower and sell when it’s higher, you will end up with more gold. The trick is to make sure you buy the gold again, otherwise you will have given up your gold and got only paper in exchange. Full Story
This monthly column looks at developments and trends in the world's major physical gold markets via a series of gold market charts created by the GOLD CHARTS R US website. In most cases, the charts featured capture data to month-end April 2017 from official data which has become available during May. Full Story
Last week I discussed what I think will be the fallout from the Great Reset, when the massive amounts of global (and especially government) debt and the bubble in government promises will have to be dealt with. I think we’ll see a period of great volatility in the markets. I offered a solution for dealing with this complexity and uncertainty in the markets by diversifying trading strategies. But that diversification must reflect a rethinking of Modern Portfolio Theory, including a significant reshaping of valuations in asset classes. We’ll deal with those topics today. Full Story
I’ll tell you when it’s time to buy miners and it’s not time yet. We need to generate some excessive bearish sentiment first. That will come only at the intermediate cycle bottom. And that’s not due until June. Full Story
For what seems like an eternity, even as it has only been about a year and half, one man has dominated the headlines: Donald Trump. This past week seemed to be no exception. The President embarked on his first foreign trip and while, overall, one could say it was controversy-free it had its moments. Possibly one of the most telling was the President’s praise for Saudi Arabia while selling them $460 billion in military hardware over the next 10 years. Full Story
In Wednesday’s “historic market manipulation setting the stage for catastrophe,” my principal inference was that, per the time old adage, crime never pays. Perhaps in the short-term; but the longer a scam is perpetrated, the more vulnerable it becomes to its inevitable demise. Kind of like Fargo, when the initial plan to ransom Jerry’s wife morphed into a heinous killing spree, resulting in essentially all participating parties dying; as crime, like market manipulation, has significant unintended consequences, which must inevitably be addressed. Full Story
By: Steve St. Angelo, SRSrocco Report - 29 May, 2017
Before the turn of the century, Central Banks sold a record 97 million oz of silver into the market in 1999. This was great deal of silver as it accounted for 17% of total global mine supply that year. Over the next 14 years, Central Banks continued to sell a substantial amount of silver to supplement the market. Full Story
A quiet week for stocks with the exception of Wednesday and Thursday after the Fed says a rate hike should come sooner than later, which increased the likelihood of a June rate hike. Markets, stocks and metals enjoyed this outlook and took off higher, so there really is no choice but to be long, still, and looking into the future. Full Story
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