After once being a legend in my own mind, I’ve easily accepted the fact I will never be the smartest, second smartest, etc., guy in the world. Instead, I realized if I could find individuals and groups who have demonstrated to me a special skill, I could incorporate all of them into my thoughts and hopefully then have something good going for me. A case in point would be my belief that Mr. David Walker is a 21st century financial prophet and it paid handsomely incorporating that into my work.
Here’s two links to a super service I believe just about all readers can benefit from. You can begin receiving it free by just providing your email address. I fully support their comments on the gold and the U.S. stock market.
Hi Peter, I really enjoyed seeing you in Vancouver on Saturday. This service is great. Thanks for the links!
Hello Peter,
You mentioned in your update on October 22nd that even if a 5% to 10% correction takes place your target remains 10,500 to 11,000 for the DJIA. Since we have broken below 1,050 on the S&P 500 has your outlook changed at all (based on Adam Hewison’s S&P 500 video that your link pointed to)?
Do you think there will be more than 10% downside in the short term?
Your response would be much appreciated!
Thanks
i am using marketclub service by Adam, it is a gr8 service
Peter can you please tell me how you can support both gold going higher and the US markets going lower ? If the markets hit the targets he has set for the S&P pull backs , won’t the flight to saftey kick in driving up the dollar ?
An Interesting Gold Analysis (Audio)
http://www.youtube.com/watch?v=ehmFl1sjkXg
Hey, the recession is over. I’m sure that’s a huge relief to all of the people unemployed, underemployed, losing their home in foreclosure, homeless, down to their last food and tank of gas…
http://news.yahoo.com/s/ap/20091029/ap_on_bi_go_ec_fi/us_economy
All we have to do is keep printing money and bailing out industries that cannot compete every quarter from here on out and we’ll be good.
Roger.
Nice bounce in NAK, NSU and TGB today. I had a feeling NAK would get hammered below $6.50…I shouldn’t have rushed to fill my rolling block at $6.85. Oh well…after being down 50 cents yesterday, I’m now even less than 1 day later. I expect to roll out at $7.35+ by the end of next week…”like taking candy from a baby”
yeah unfortunately i missed the boat on nak but i got into EAS and EVG this morning just before their bounce. hopefully kmk falls 2 a couple more cents and ill load up there as well.
Lurking versus posting is where you would usually find me but I had to note how uncanny Peter’s blog posts are most of the time. His gold comment over the weekend and yesterday’s big rally forecast are just one of numerous calls he has made since I started visiting this blog last November. Pity his naysayers as they have little opportunity to take shots at him. I am a big Peter fan and only to happy to post that fact!
http://www.foxnews.com/politics/2009/10/29/economy-grew-percent-quarter/
Economy Expands 3.5 Percent in Third Quarter, Biggest Growth in 2 Years
The much-awaited turnaround ended the streak of four straight quarters of contracting economic activity, the first time that’s happened on records dating to 1947.
Doctored Numbers
There’s A Monster In The House Revisited
Unkle Sam Won’t Die Peacefully
Sadly, everything that the government reports is dummied up in some way or another. Does any one remember my little essay, ‘There’s A Monster In The house’? It compared Unkle Sam to a drug crazed compulsive gambler, desperate to get his hands on the families health care insurance premiums to go out and shoot it up and gamble it away. It concluded that ‘We Are Locked In a Death Struggle With Unkle Sam, And It’s Him Or Us.”
It’s a reasonable conclusion that the government is attempting to get its hands on the nations healthcare Dollars to integrate into general revenues. Then watch them dole out stingy expenditures for health care playing the role of a villainous insurance company. If they can pay out 50 to 60 cents on the Dollar of what they collect in revenues, they might be able to survive and that’s what the Socialized Medicine shennanigan is all about in the U.S.
Next year, far ahead of schedule, the Social Security surpluses will disappear as people take early retirement due to economic conditions.
There’s nothing more that they would like than to restrict health expenditures for retired citizens, pocket the premiums paid, and send the old folks to an early grave through medical neglect. Don’t be nieve and trust this monstrous government that has behaved so badly.
The FDIC (which is depleted), does not have a seperate set aside account for it’s funds. Even those premiums paid by banks are integrated into general revenues. Now they want the troubled banks to advance three years insurance premiums for deposits on hand and it’s a large chunk of change, perhaps 5% of deposits on hand.
Unemployment? It’s closer to 20% than the 10% reported. Inflation? They say it’s non-existent. Tell that to a housewife or check John Williams’ Shadow Statistics that probably show it’s running 5 – 7% per annum. Economic growth? Check out United Parcel Services third quarter revenues which were down sharply compared to the year before. They ship 1/2 of all the packages in the United States. John Williams also has differing opinions about economic growth. It’s smoke & mirrors.
These fat cat government people are determined to sit there and milk everything dry to continue living an Imperial Lifestyle. Now they’re saying that if any financial institutions become insolvent, it will be their problem because they’re too big to save. Of course they realize that they can’t endanger the lifestyles of the government employees paid far more than the private sector.
$1.2 Trillion Dollars ‘Stimulus’ was thrown right out the window and we got little or nothing for it. That’s about ten percent of GPD if I’m not mistaken. Sure it was like a shot of Heroin in the arm for the stock market, but ‘The Fix’ is about to wear off. One of the government’s economists is stating that the bulk of the stimulus occurred in the second and third quarters of ‘09. There will be a small benefit to the economy in the fourth quarter and after that the stimulus will be negligible.
So let’s see how far we can go from here with enormous residential ARM’s resetting next year. There’s also an absence of huge Capital for refinancings in the Commercial Real Estate Sector. That’s expected to drag down the banking system. They know what’s coming before long.
Be careful if you keep money in the banks. When they fail, the F.D.I.C. charter has the option to pay out depositors over 30 years. They can also convert deposits into common shares of banks. Depositors might get a combo-deal that they’re not expecting. You can’t be complacent with the banking system’s difficulties any longer.
So once again, we are locked in a death struggle with Unkle Sam and it’s him or us. In the end, Hyperinflation should finish him off for good, but in the meantime he just won’t die in peace, trying to take us out with him.
SCGroup,
that commentary on gold was the superman theme – is that what you meant?
Sorry, SGGroup not SCGroup. Mybad.
Jair… It was no mistake. Gold hit 1025 – 1027 which is the first support level, earlier identified in my posts, marking the ‘Rising Neckline’. At the same time, the US Dollar traced out a five wave advance and it may have turned down again. As the day progressed, Gold strengthened and it does seem that ‘The Superman Theme’ was an appropriate analysis coinciding with an apparent bottom.
What should happen now? So maybe a final test is in store of 1025 support in November and then — Here’s another analysis that you may appreciate..
http://www.youtube.com/watch?v=hdjL8WXjlGI&feature=related
Please tell me what you think of buying Canadian ETF’s that come close to mirroring the TSX (mostly commodities) at this point? I assume you still see a pullback with the DOW at 10,500-11,000. Does this naturally mean a strengthening $US and falling commodity prices?
Gartman on gold and agricultural stuff – now this is downright scary. Knowing what many of my blogger friends here think of Gartman to see this video today on Bloomberg titled “Gartman says he’s bullish on gold, grains” gives me pause given my recent posts about that same subject. Please friends for those of you who think he’s a “twirp” (that’s a Michigan term) don’t then put me in that same catagory.
Sorry but for some reason I could not paste the link – maybe you all feel that’s a blessing!
Susan…here’s your link on gartman
http://www.bloomberg.com/avp/avp.htm?N=av&T=Dennis%20Gartman%20Says%20He%27s%20%60Bullish%27%20on%20Gold%2C%20Grains&clipSRC=mms://media2.bloomberg.com/cache/vNQ_.xK3qAmk.asf