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Market Update PDF Print E-mail
Written by Steve Meyers   
Wednesday, 23 April 2014 19:49

 

Nothing happened that we didn't expect today. Stocks corrected and consolidated. We are in earnings season so we can consolidate for a day or 2 more then I think we have the last dying bull's gasp to an unconfirmed high in early May.

Gold and silver have option expiration tomorrow. If we spike down early, I think tomorrow will be the low spike then begin the long awaited rally. Buy of the year IMO.

 
Market Outlook PDF Print E-mail
Written by Steve Meyers   
Wednesday, 23 April 2014 11:23

The audio blog has not been working due to security concerns that are being addressed. I will give a written update until the problem is fixed.

Stocks most likely hit a short term top yesterday and should pull back for a couple of days. I am still focused on the early May time period where it is still possible that the big cap stocks hit a new high unconfirmed by their small cap brethren, This would be an ideal signal to short. This market is among the most dangerous that we have had. I do look for a crash and likely sooner rather than later.

Gold and silver are being subdued for option expiration which takes place on Thursday. I still maintain my opinion that this is the buy of the year (at least). We are long gold from 1305-1280 and long silver at 19.51. Hang in there baby!

 
Richard Russell - The Dollar Will Crash In A Matter Of Months PDF Print E-mail
Written by Steve Meyers   
Tuesday, 22 April 2014 17:53

With continued turmoil and uncertainty in global markets, today KWN is publishing another important piece that was written by a 60-year market veteran.  The Godfather of newsletter writers, Richard Russell, made this ominous prediction, “In a matter of months, I see the dollar crashing.”  Russell also stated that he is buying all of the physical gold and silver he can, “while they are still available.”

Read Interview

 
Does China Really Have 1,000 Tons Of Gold Locked Up In Shadow Financing Deals? PDF Print E-mail
Written by Steve Meyers   
Monday, 21 April 2014 11:42

There was lots of propaganda late last week explaining the most recent gold weakness. Control is not so slowly being lost by the west. Soon the price of metals will explode just like we have seen with food prices. The expected spike to 19.00 in silver appears to be underway. I feel gold and silver are buys of the year. Patience will pay off IMO. These low prices will soon be a distant memory.

Summary

  • Recent WGC report suggests that 1,000 tons of gold is being used as collateral in Chinese commodity financing deals.
  • Most of this information is based on conjecture and not fact since the Chinese gold market is quite opaque.
  • Serious questions remain as to why gold would make good collateral for financing deals in 2013 as it experienced significant volatility and high premiums.
  • Recent gold sell-off based on the WGC report may provide investors with an opportunity to buy gold.

Read More

 
Happy Easter PDF Print E-mail
Written by Steve Meyers   
Thursday, 17 April 2014 23:15

H A P P Y  E A S T E R

 
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