‘David Schectman’ Archives
There is a Big Difference Between Being Disappointed and Throwing in the Towel
READ THE FULL NEWSLETTER A note from my friend, Trader David R on gold and silver: “I told you silver going MUCH lower but gold looks like it will see $1550 soon and see from there. I like gold more than silver here.” Ted Butler, on the other hand, is recommending that now is the time to buy and even suggests call options (which we do [...]
What Bad Economy? It Looks Pretty Good Down Here in Miami.
READ THE FULL NEWSLETTER Monday’s daily was without my personal comments. I lost four pages by not paying attention to what I was doing and didn’t have the energy to re-write it. On Tuesday, gold was down into New York and then the bullion banks pulled their bids and dumped contracts and the computer-driven hedge funds bailed, as [...]
Monthly Gold Price Chart Since 2001
READ THE FULL NEWSLETTER Here is the monthly gold price chart since 1999. The chart shows that gold is consolidating. I’m betting on an upward breakout just like in 2006.
Comments on Sinclair and Murphy
READ THE FULL NEWSLETTER One of my close friends is furious with Jim Sinclair. He says, “He’s lost all credibility with me forever.” “How on earth will we ever beat them?” I guess no one has a lock on the short-term price of gold, up or down. Not even Jim, “the greatest gold call of all time” Sinclair. After his $1,650 [...]
I Will Not Fall for Slick Videos that Promote New Stocks
READ THE FULL NEWSLETTER I happened to ask my son Andy about promoting junk silver in the newsletter. He told me that there was none available. There is a month or longer wait at the wholesale level. The premiums have jumped up enough where it costs as much to buy junk, per ounce, as a new Silver Eagle. Junk silver is only available on [...]
It is Very Difficult to Get Wealthy People to Listen to Hard Money Arguments
READ THE FULL NEWSLETTER It reminds me of an arm-wrestling contest: one participant nearly wins, then it reverses and the other one nearly wins then they end up back with neither one in control. Sooner or later, one of the two will prevail. That’s what the gold market looks like lately. The neutral point and the battleground is [...]
The Turn-About in Gold and Silver Today is Very Encouraging
READ THE FULL NEWSLETTER Laura, who does such a superb job of editing and producing the Miles Franklin Blog, is tied up interviewing for a position at Miles Franklin, and she asked me to please get her Tuesday’s article by 4:00 on Monday. What I am writing, below, was early in the day, on [...]
Physical Gold vs Mining Shares
READ THE FULL NEWSLETTER One of our clients sent me an email and I will paraphrase it and then offer my comments. He wanted to know where are the silver “shortages” that we write about and he wondered why we do not recommend mining shares at these low prices, since it makes sense to buy low and sell high. Let me work backwards here. [...]
The Fed is Merely Accommodating the US Government’s Monster Borrowing Needs
READ THE FULL NEWSLETTER Technically speaking, gold needs to reach the $1600 - $1625 area to confirm the uptrend. Better yet, once gold reaches the 200-DMA at $1,664, and silver at $30.70, they are going to blow to the upside. They stay the course – they will continue to purchase $85 billion worth of Treasuries and [...]
Is the Fed Really About to Take Away the Punch Bowl?
READ THE FULL NEWSLETTER Does this look like the Fed is about to take away the punch bowl today? With the markets still unsteady, after the Cyprus “surprise,” what chance is there that the Fed will announce that there is no longer a need for their $85 billion a month gift to the banks (yes, European banks too) and the bond market? If [...]
