Does anyone have any stats that show how many baby boomers are to retire over the next decade or so on a yearly basis?
Since baby boomers have began to retire on a larger scale now, they retire and are taken out of the labor force and no longer counted as unemployed which is makes sense, but their positions are often replaced which makes me wonder how does that affect the current monthly non farm numbers if we're seeing 150,000 new hires, how many of those are not new job created but basically position replacements due to elderly retiring?
Has anyone check out the weekly charts on USD? We're at the neckline of a large H&S and dollar gets hit, so does gold and silver follows. It look like the bankers are still in control of the PMs, they broke through the support of 1686 or so and were able to bring the POG close the the monthly support line that goes all the way to '09 which sits around 1660.
Either way, things are getting more interesting and should resolve themselves shortly. Buy puts as insurance if you can't stand the pressure of PMs moving much lower because if 1660 POG breaks we should see 1630if not 1608 in a short time frame.
Christmas is almost never very merry for PMs and even worse for PM stocks.
The West controls the PM market, they always did. At present the bankers are pushing PMs lower and you either hold and wait or go with the bankers and short PMs. Once you see PMs start to rise during NY time slot, you change your strategy and go long. The market is rigged and has been for years, can someone prove it? No, but the action is very telling. Watch the COT reports end of Fridays and see what is taking place. Last week was a nice week for gold covering shorts, and it would be nice to see this week's COT drop off some shorts as well.
The short position is still historically high so the bankers, I'm guessing Goldman and JP are shaking the market regardless what USD or Euro is doing. The risk of fiscal cliff is also causing liquidation which helps bankers shake the weak PM market more than usual.
Overall SLW thus far has been doing amazingly well when compared to other PM equities. Anyways we have about another month of typical weakness unless general markets take a nose dive, mid Jan should be turn around for PMs.
Also, watch 1685 gold, if they manage to break this support we may slide to 1630 fairly quickly, as it appears we have a nice triangle on charts with support at 1630 and resistance around 1737. And volume is higher on the moves down.
Until PM miners get together and fight the manipulation we're going to be played. From today's gold being up and majors being down I'm guessing tomorrow gold is going to be down $5-10.
GG should stop the monthly dividend and start buying back the shares since they've released shitload of them ever since wht (wheaten river) acquisition. Updates won't do nothing permanent. SEC doesn't care about manipulation in PMs or miners which is difficult to prove, plus requires huge sums of money to take MM to court over this "assumption".
This period is another bleeding time for year end tax loss taking so until Jan, we can't really expect much in regards price increases.
Trading miners for last 8 years its not getting easier or less frustrating but worse when compared to the price of metal vs miner's share.
This is year end, I far back as I can remember, year end is never good for miners, I think '07 was an exceptional year. This is a good time to accumulate miners at a discount and let second week of January move this unloved market higher.
You can day trade, you can swing trade, but investment in gold miners is tough ride. For those you are riding this thing until GG hits $60 or better, better play options game so at least there is some cash recovery. On that note, IMO we'll see GG @ $60 next year.
SLW is not a miner but a dealer, a middle man if you want to call it that. If the producers don't have enough silver ready for delivery, slw is out of luck and can sit and hope that there will be more silver for them in the coming weeks, months dependent on the suppliers.
I would imagine that if slw continues to be short on silver deliveries for some time, they would invoke parts of their contracts to force the supplier(s) to cover the losses due to the contractual obligation of deliverable silver per quarter, but I'm sure slw won't play hardball every quarter or unless they have to since they understand that you can't guarantee silver outputs or timely deliveries on timely basis as long as the suppliers are doing their best to fulfill the contract with slw.
SLW had these problems for a long time, nothing new. Maybe next quarter there will be more sales than expected or not, either way, slw price has done better than majority of miners so there is no point of crying about the price of slw at this point.
Take profits where you can, buy on corrections.
Looking back at '08 I think collapse won't take place any time soon as things are. CBs will continue propping up governments through either direct purchasing of govnt debt or through purchasing bank's MBS who in turn buy treasuries propping up government debt and the money created slowly flows into the system through govnt expenditures or Feds credit goes into the capital markets where banks feel it's safer than lending to the public.
If you feel like you want to take some cash off the top, you can have core holdings and trade small quantity when you feel there's going to be a correction or buy puts to protect your assets.
There is no guarantees in anything especially stock market where computers run the show and don't care about valuations of a company when there is a run for the doors like we've seen in '08.
If economy is slowing, industrial metals should also turn lower which should put pressure not only on silver but also on the output of industrial miners which would impact slw which doesn't have its own mines but buys silver which is bi-product of ... So if zinc demand drops, and zinc output drops, its logical to conclude the silver output of said mine would also drop and slw won't get the silver as they agreed upon. How long will this lag last?
Mind you, a lot of slw silver comes from GG which are mostly gold miners and shouldn't be too badly affected by slower demand for industrial metals.
There is no guarantees, and time objectives may vary for you as short term corrections may not reflect long term possibilities for this stock which also applies to economy which depends are we talking about a year, five or 10 years down the road. This financial mess can continue on for quite some time but who will get slaughtered first? Will USD, Yen or Euro get thrown under the bus first and who will benefit and with what ramifications and periods are all up in the air.
A lot of unknowns which always bring stress when it comes to equities, physical gold never gave me anxiety like stocks - but that's me and I trade stocks quite often.
When you see US market start to pull the gold price up that's a good sign. Watch Thursday as it's seems to be a day when a lot of reversals take place.
Haven't bought any for some time now but I might be a buyer tomorrow. My average is below $1000/oz. The parabolic move in gold had to be corrected, take a look on the monthly or weekly charts. The support lies between 1490 and 1530 going back to 2008 low. Today, was an interesting day for miners, looked like shorts were covering but one day is too early to tell, we need a good strong bounce off the support either tomorrow or Friday.
Would I worry if gold dropped to $1000/oz? No! This isn't 1980! We have so much debt that as soon as Europe either inflates or collapses, US will be put under the microscope. US is over 15trillion in debt and rising fast. There is no way for them to pay that debt off without inflating. So deflation or inflation at this point of the game is irrelevant as we have debt problems that cannot be solved without either defaults or inflation.
What will governments do? Deflate and risk riots and violence now or face inflation several years from today, maybe under the next president, or prime minister? I will guess the latter so despite what the governments say today, they will inflate. This goes for all governments, we've seen riots in Greece due to austerity measures, this will spread without credit injection. Only thing that bankers and governments fear more is desperate public which we've haven't seen since the '30 and with desperate times you risk having Hitler style leaders rise to power and challenge the establishment.
Not only I might be buying physical tomorrow but I might close some puts as well.
Anyone waiting for the opportunity? If we see 1500-1550 I'll be buying a bunch of maples again. Haven't bought any bullion since 1200s so I have my fingers crossed at the possible opportunity coming. Bankers were hitting every rise in gold today and gg might bleed for another month or so as January is usually a bottom fishing month. EU is taking their time in solving their mess, which they won't solve but will most likely do either semi default or inflate through whatever means they can.
Ya, sold some Nov 17 options today, but may short more on Monday as this thing is getting overbought on daily charts but close was still strong. A quick 2 or 3 dollar drop will probably do the trick before we move higher - let's see what the Fed has to say on wed.
Why, isn't the entire market manipulated? The stock market isn't based on supply and demand model any more. Maybe at one time it was but it isn't today. When a computer program trades based on "technicals" that have nothing to do with real world, when a marketmaker moves a stock to their advantage IMO that's manipulation while it is allowed it isn't fair to a regular individual. I've seen this in trading the miners over the years but a small guy can't make a difference in supporting a position when a MM want to move the stock down - the stock will move down.
In same manner the bullion may be manipulated even as some can point out the legality of it.
Personally, I think they should eliminate all of naked short trading, and any uncovered option trading. You either have the goods to sell or you don't. In real world you couldn't sell something you don't have so why is this practice allowed in the stock market? If this vehicle is to be used as investing, you want to know you're buying something not a make belief and IMO uncovered sales are make belief. I'll sell you something I don't have and IF I need to I'll get it but until that time I'm happy to take your money and hope that you don't get your goods.
just my 2 cents worth
Can anyone recommend any actual in depth articles regarding GG and/or their management? I'm doing a project and would appreciate if anyone would recommend anything of substance as most interesting sources date back to when McEwen "discovered" the Red Lake mine. Other than that, there just isn't much of substance that I can find on the net but maybe anyone knows of periodicals that have something of interest on GG and their management.
When was the last time silver was in 16:1 ratio? 1980 when Hunt brothers cornered the market? Before that? I vaguely remember but I think it was over 100 years ago. Historically it's true but that was prior to the fiat currency being introduced.
Silver can be viewed as both precious and industrial which in the currency crisis may be a good thing or a bad thing. It has a good chance of outperforming gold when so called economy is doing well and commodities are rising but it will crash and burn if the markets melt as was seen in 2008. Mind you gold was smacked down as well but nothing compared to what silver suffered.
Now, if we can look at the ratio when silver got hit hard in the fall of 2008 and it was 80:1 or so but when we look at the spike of 2008 and the ratio then was around 44:1. Today we're around 40:1 ratio.
I own both in physical bullion and am not parting with either any time soon.
Why is it trending lower while PM are moving higher? Is there any bad news in the cards or what was the negative that is driving this stock lower? Or simply a MM play?
SLW was a steal at 2.50
$18 may not sound bad when we seen 20s not that long ago but when markets melt you don't know the bottom. While I have no problem holding gold etf or physical I am cautious of holding stocks without being at least hedged.
you have to remember they are dependent on their "suppliers" who may be late or their mines didn't produce as expected and so forth. That's also why slw hasn't been posting profits as in theory should have been over most of its history. I'm holding to my core position right now and will see what comes out of the earnings in the next little while.