danny-TOM DEMARK WITH RICK SANTELLI. plug that into youtube search. it should be good for your stomach ache. i am going to try and dump my positions around 2nd week of jan and start slipping into gold.
Time (ET) After Hours
Price After Hours
18:20 $ 13.45 400
18:19 $ 13.45 800
17:12 $ 13.40 Low 200
17:12 $ 13.41 600
17:04 $ 13.46 22,644
17:04 $ 13.46 30,670
16:57 $ 13.47 High 300
16:36 $ 13.4627 169,000
16:35 $ 13.47 300
16:30 $ 13.4633 117
16:25 $ 13.46 2,900
16:10 $ 13.46 21,440
16:10 $ 13.46 10,600
16:06 $ 13.47 1,100
and the final piece of the puzzle, the taper and interest rates. first the fed is sill in the printing biz big time. couple with that they are not going to raise rates, and gold still looks valuable. but keep an eye on interest, at 6%, folks will go to cash in the bank rather than gold.
""The Fed also sought to enhance its commitment to keep short-term interest rates low for a long time after the bond-buying program ends. Fed officials inserted new language in the policy statement that stressed they will be in no rush to raise rates once unemployment reaches the 6.5% threshold the central bank has set out as the point at which they would start considering raising rates, as long as inflation remains in check.
The Fed said that “it likely will be appropriate to maintain the current target range for the federal funds rate well past the time” that the jobless rate dips below the 6.5% threshold, “especially if projected inflation continues to run below the Committee’s 2 percent longer-run goal.”
The details of the $10 billion cut: The $10 billion reduction is split in half, with plans to spend $5 billion less per month on long-term Treasury bonds, lowering the central banker’s purchases to $40 billion per month, and a cut of similar size in purchases of mortgage-backed securities, to $35 billion per month.""
oth, i figure at $1100, pog, about half the miners can't make a profit, (jmo). if true, that can't be good for nugt.
"Darby also has a surprising outlook on what will happen with a drop in gold prices. While some have argued that production will automatically stop now that prices are below $1,250, Darby says the opposite will occur – at least in the short-term.
"Ironically, as we break through our target, we will start to see companies actually initially trying to produce as much as they can because they start to face some cash flow problems," says Darby. "But, we think that around about this level, over the next 12 to 18 months, companies will be forced to cut back on production as, unfortunately, their cash costs start to turn negative."
i'm seeing the strategy of holding nugt, it is now about pe relative to other comps, not where gold is going. have you checked on miner pe's, are they indeed too cheap here?
Morgan Stanley’s Paretosh Misra, Piyush Sood and Marcus Lindberg today are building a bull case for gold-mining stocks based in part on cheap valuations following the selloff.
They also note that gold miners managed to expand their EBITDA per ounce of gold by about $50 per ounce on average during the third quarter even as the price of gold was falling — the fruits of recent cost-cutting efforts. See the chart to the left.
If those miners are making deep cuts today, tomorrow’s earnings are that much likelier to reflect the benefits of being lean.
ok, i just filled dgaz ah and they couldn't have filled it faster and a penny below my bid of 7.77. maybe 6's and rs is coming.
i think you get a relief rally regardless what fed does, prolly a bigger one if no taper, but any taper would be small, giving gold a green light.
yest was my biggest red day in recent memory, quickly they are taking back my aamrq profits. tax selling, need a santa rally or i could finish this year flat. no more cash to add, i am all in. want to dump all positions but don't want to miss santa. is he coming? put your red robe on duy.
wlt, gnk, xco, aal, tsl, exk, fnma, oclr.