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Gold analyst Michael Ballanger just posted an article noting how much things have changed — perhaps for the better — in the gold market. Here’s an excerpt...

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  • A New Balance Of Power In The Gold Market
    By on June 25, 2016 | No Comments  Comments
    Gold analyst Michael Ballanger just posted an article noting how much things have changed — perhaps for the better — in the gold market. Here’s an excerpt: Commercial Traders Have Just Gone Over the Top (24hGold) – With Friday’s Commitment of Traders Report, the ridiculous has just metast...
  • Gold-Stock Summer Breakout?
    By on June 19, 2016 | No Comments  Comments
    The red-hot gold stocks surged again this week in an apparent early-summer breakout.  This strong buying is defying their seasonally-weak odds this time of year.  Investors are flocking back to the miners as gold powers higher on also-counter-seasonal strong investment buying.  Such unprecedented...
  • Technically Speaking: The ‘Low Rate’ Trap
    By on June 18, 2016 | No Comments  Comments
    In this past weekend’s commentary, I discussed the failure of the market to hold its breakout above 2100 last week. “The short-term outlook suggests more vulnerability to selling. Importantly, the markets must hold support at 2080, the short-term moving average, or 2040 which is the recent bott...
  • Big Names Are Bailing…
    By on June 16, 2016 | No Comments  Comments
    The list of heavy hitters who are saying bad things about this world and its financial markets — while acting aggressively on their pessimism — is growing to alarming proportions. A few examples: Stan Druckenmiller: The bull market is exhausted; move to gold (MineWeb) – Legendary investor Sta...
  • Banks and Markets…
    By on June 16, 2016 | No Comments  Comments
    We have taken banks and financials to max underweight. We have raised cash in US ETF strategies. Bullets: Brexit is a risk to banks. If the referendum passes and is implemented, banks lose. LCR issues mean more pressure on banks to meet Basel III. See our recent piece on LCR and the Fed’s balance ...
  • First Majestic Silver Soars
    By on June 16, 2016 | No Comments  Comments
    First Majestic Silver has been one of the world’s best-performing stocks in 2016, nearly quintupling at best in recent months.  This outstanding Canadian silver miner runs extensive operations in Mexico, and is one of this metal’s purest producers.  Despite its blistering run this year, First ...
  • Something Big That Always Happens Right Before The Of...
    By on June 16, 2016 | No Comments  Comments
      What you are about to see is major confirmation that a new economic downturn has already begun.  Last Friday, the government released the worst jobs report in six years, and that has a lot of people really freaked out.  But when you really start digging into those numbers, you quickly find...
  • Market Remains Overvalued, Down Slightly from Last Mo...
    By on June 16, 2016 | No Comments  Comments
    Here is a summary of the four market valuation indicators we update on a monthly basis. The Crestmont Research P/E Ratio (more) The cyclical P/E ratio using the trailing 10-year earnings as the divisor (more) The Q Ratio, which is the total price of the market divided by its replacement cost (more)...
  • Technically Speaking: When Doves Fly
    By on June 13, 2016 | No Comments  Comments
    As I discussed in this past weekend’s commentary: “With the market now overbought on a WEEKLY basis, there is little “fuel in the tank” effectively to substantially drive prices higher in the short-term. Therefore, with risk outweighing reward at the moment, a more cautious stance to portf...
  • Massive Gold Investment Buying 2
    By on June 12, 2016 | No Comments  Comments
    Gold’s strong gains so far this year have been overwhelmingly fueled by one dominant driver, massive investment buying.  After shunning prudent portfolio diversification with gold for years, investors are finally starting to reestablish those essential positions.  And since their collective gold...
  • Junior Precious Metals Miners: Go With Who You Know
    By on June 11, 2016 | No Comments  Comments
    The first few months of this year gave a little taste of what’s to come for the junior precious metals miners, if this is indeed the start of a new gold/silver bull market. Some sample charts: There were dozens more like this, obscure little miners that soared when investors concluded that mayb...
  • Japan First To Panic, Won’t Be The Last…
    By on June 11, 2016 | No Comments  Comments
    The most widely-reported result of the recent G-7 meeting was Japan’s attempt to convince the other major economies to admit that a crisis is imminent and take appropriately radical steps. The response seems to have been a bunch of blank stares. As India’s Business Standard noted: G7 pact offer...
  • Regression to Trend: The Latest Look at Long-Term Mar...
    By on June 10, 2016 | No Comments  Comments
    Quick take: At the end of May the inflation-adjusted S&P 500 index price was 81% above its long-term trend, down slightly from 83% the previous month. About the only certainty in the stock market is that, over the long haul, over performance turns into under performance and vice versa. Is there...
  • Trickle-Down Crash? Trophy Assets Suddenly Tanking...
    By on June 9, 2016 | No Comments  Comments
    One of the defining traits of the past few years’ “recovery” has been the torrent of money flowing from big banks to favored clients, and from there into trophy properties like high-end real estate, superyachts, and fine art. This might be the first financial bubble to completely bypass the 99...
  • Unintended Consequences – Part 2: Easy Money = ...
    By on June 8, 2016 | No Comments  Comments
    It’s unclear what China was thinking when it was borrowed all those trillions to quadruple its capacity to make steel, cement and other basic industrial products. There’s no record of it checking in with the other countries that have such industries to see if a sudden surge of cheap imports was ...
  • Technically Speaking: What Has The Fed Wrought
    By on June 2, 2016 | No Comments  Comments
    Given the markets were closed on Monday, the analysis from this past weekend’s missive did not change. The important takeaway from that analysis was: “A couple of week’s ago I discussed the rather clear “head and shoulders” technical pattern that we developing in the market. These patter...

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