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David Morgan Urges Investors to Obtain REAL Money outside the Banking System Immediately

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Posted by SilverSeek.com

on Wednesday, 07 September 2016 08:16

David Morgan tells us how long he thinks the correction in the metals will last, why he believes this November’s election is less important than you might think and also talks about a key event coming up that could put a lot of pressure on the U.S. dollar - M/T Ed

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Listen to the Podcast Audio: Click Here

Mike Gleason: It is my privilege now to be joined by our good friend David Morgan of The Morgan Report. David, I hope you've been having a good summer and welcome back. It's always a pleasure to talk to you.

David Morgan: Thank you very much, and yes, I have been having a wonderful summer. Thank you.

Mike Gleason: Well, as we begin here, David, please give us your thoughts on the recent pullback in the metals. We've maybe been overdue for a correction for a while now. I know in following your work, you've been calling for one, and we're getting it here. And after a fantastic first six or seven months of the year for gold and silver, we're finally starting to see some real selling pressure emerge. What is your take… what have you noticed during this mini-correction, and what are some of the reasons for the pullback?

David Morgan: Well, I'll start with the reasons. In any market, even in a non-manipulated market, which there is probably none. The stock market, bond market, metals markets, futures markets, options… just about everything out there is geared and leveraged and pretty much manipulated by the trading algorithms, and other means, but regardless of that, all markets move up and down. Nothing goes straight up or straight down, and so there are periods where there's profit-taking, there's periods where there's consolidation, that type of thing. So regardless of manipulated or not, all markets ebb and flow.

So the metals markets are no different in that aspect. What we saw in the silver market was over the last two months' time frame, we peaked out in the spot month around the $20.50 area a couple times, and now we've dropped as far as about $18.50, so we've had about a $2 drop over the last couple of months. Specifically, the most recent drop's really over a one month period. I want to be correct on that.

The idea that I've had is similar to many others, and we're kind of overdue for correction as you stated, Mike. So this is actually a healthy thing. The metals stocks certainly have leveraged both directions, so anybody that's invested in the resource sector, particularly gold and silver stocks, is going to see a multiple percentage-wise on the drop. And some of these stocks actually gave us a clue that the consolidation or the correction was coming, because some of these sold off before the metals actually had started to sell off. What's interesting, Mike, is that the selloff, even though it's been a fairly good drop, $2 on a $20 commodity, you're looking at about 12% or so, hasn't dropped the commitment of traders… or the open interest, I should say, on the commitment of traders… very much, which means that the bulls and bears are still pretty equal. There's still a very strongly held commitments to the silver and gold paper paradigm that futures markets more than I would've seen in a very, very long time for this kind of a price drop.

So let me restate that. The $2 drop in silver and a correspondingly percentage-wise drop in gold, normally, you would see a pretty good sell off in the open interest. In other words, the shorts would be winning the battle. That is not what I'm seeing at this point in time. We could see something different after the Labor Day holiday. I'm not sure, but right now, these metals for the whole year, and even during this correction, are acting extremely strong.

Mike Gleason: So in your view, it sounds like the correction might not be terribly long lasting. Is that what I'm hearing?



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Personal Finance

Denier Pride

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Posted by Bob Hoye - Institutional Advisors

on Friday, 22 July 2016 07:18

1425043199966455469It wasn't until a couple of years ago that the full meaning of today's usage of the term "Denier" got through to me. Of course, the Left's connotation has been the accusation that anyone who would deny catastrophic anthropogenic global warming would also deny the Nazi holocaust.

This is just plain nasty, and unsupportable.

Political Correctness is the most versatile authoritarian dogma ever invented. There is no limit to its intrusion. Anything the Left does not approve or like can be condemned. Imposition of power does not depend upon any rigid concepts in political or religious theories.

Skepticism has been the foundation of science and the Left condemns it as "denial".

Anything old is revised, anything new is attacked. As the saying goes, "Orwell was right but got the date wrong".

Some Earth-scientists would respond to the fervent message about Global Warming with "It's been warming since the end of the last Ice Age. What's your problem?" Finding this dismaying, climate politicians shifted over to Climate Change. Any weird weather could be blamed upon modern industrial life. The new original sin.

In today's world, trying to control people through concepts of ethics or morality won't advance your career. Being on the correct side of anything will advance your career.

The best definition of an authoritarian system is by modern physicist, Murray Gell-Mann:



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Personal Finance

I need your help

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Posted by Michael Campbell

on Thursday, 16 June 2016 09:15

goldcorpauction

As you may know I’ve been volunteering with Special Olympics since I had dark hair (the 16th century) and the impact the organization makes on children, teens and adults with intellectual disabilities never ceases to amaze me. It’s exciting to see.

Special needs individuals seem to have taken on a political correctness, which is fine as long as it gets expressed in action – not words. Special Olympics athletes and their families deserve much more, which is why I am asking for your help.

The Goldcorp Invitational Golf Tournament is one of only two public fundraisers done by Special Olympics BC and hence is extremely important to Special O’s ability to provide programs for kids as young as two years old.  Obviously not everyone can participate in the golf tournament but we can all help by bidding in our online auction.

It runs for only a week and closes at noon on Tuesday, June 21st – and then all high bids go through to the live action at the tournament to see if anyone wants to put in a higher bid.

 Here’s an auction sample:

  • Turtle Bay Resort, on Oahu’s North Shore, is the original A List Resort, ranked in the top 75 in the World by Golf Digest. Famed golfer Arnold Palmer liked it so much he designed a golf course specifically to take advantage of Turtle Bay’s breathtaking natural beauty. Bid on a four-night resort experience complete with a range of activities including golf, spa, mountain biking and water sports.

And there is much more. Concerts, trips, dinners, signed jerseys, gift certificates - or just a straight ahead donation. Have a look at the first page of auction items by clicking here, and check out the full list of live and silent auction items too - http://www.specialolympics.bc.ca/goldcorp-invitational-auction

MC horz cropped - 2013It not only means a lot to me but more importantly your donation or bid provides help to some very deserving individuals.

Mike



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Personal Finance

From $4.5 Billion To Nothing

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Posted by Matthew Herper, Forbes

on Friday, 03 June 2016 10:05

thanosForbes Revises Estimated Net Worth Of Theranos Founder Elizabeth Holmes

Last year, Elizabeth Holmes topped the FORBES list of America’s Richest Self-Made Women with a net worth of $4.5 billion. Today,  FORBES is lowering our estimate of her net worth  to nothing. Theranos had no comment.

Our estimate of Holmes’ wealth is based entirely on her 50% stake in Theranos, the blood-testing company she founded in 2003 with plans of revolutionizing the diagnostic test market. Theranos shares are not traded on any stock market; private investors purchased stakes in 2014 at a price that implied a $9 billion valuation for the company.

Since then, Theranos has been hit with allegations that its tests are inaccurate and is being investigated by an alphabet soup of federal agencies. That, plus new information indicating Theranos’ annual revenues are less than $100 million, has led FORBES to come up with a new, lower estimate of Theranos’ value... CLICK HERE to read the complete article



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Personal Finance

The Most-Ruinous Mistakes Investors Make!

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Posted by Larry Edelson - Commodities, Stocks, Technical Analysis

on Wednesday, 20 April 2016 06:24

When I coach investors and traders, I’m often asked what I think are the most-common, most-ruinous mistakes that investors make. Unfortunately, there are a lot of them.

And these days, it seems like investors are making almost all of them at the same time.

There are mistakes like risking too much money on a single trade or investment … not using protective stops … not using disciplined money management … trading too often … not doing your homework … taking on too big a position in any market … not diversifying enough … and on and on.

Then there are mistakes like not knowing when to trade, and equally important, knowing when not to trade or invest, like today’s sideways markets. 

Over time, I will explore each and every one of the above in greater detail, and more, to help you learn how to become a better investor and trader.

But in today’s column, I want to cover what I think is the most-dangerous mistake investors make, bar noneIt’s having a set of preconceived notions about what markets can and can’t do.

Consider this weekend’s Doha meeting on oil prices. There was no agreement reached. And what happened Monday morning? 

Oil prices (logically you might say) crashed, nearly 7 full percent.

Screen Shot 2016-04-20 at 6.15.13 AMBut then what happened? Oil prices roared right back, ending the day virtually unchanged.

Why did that happen?

Because longer term, oil is already back in a bull market, and savvy investors are buying the dips. That’s why.

So you see, the fact of the matter is that markets can do whatever they want to do. But they are also never wrong. Markets are never irrational. 

They are what they are, and if you don’t understand a market, it’s not the market’s fault; the fault lies instead with your analysis.

For instance, have you ever heard someone say, "A market is defying all logic"? 

Or that a market is “disconnected from its underlying fundamentals”?



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