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MELMAN MINUTES

MINUTE ARCHIVES

 

We are pleased to inform new readers of this important service. Three times each week (usually Monday, Wednesday and Friday), unless travel or health conditions interfere, we will continue to write a timely commentary on current market conditions. These comments are entitled "Melman Minutes" and it is our hope that they will be of value in providing political and economic background information to assist in your interpretation of market conditions.

 
 

Due to a major incident which affected the Amtrak train on which I was riding, I arrived in California many hours late and therefore have been unable to get much rest - so this will be a brief summary report this morning.

Gold is currently trading near $1,244, still some $64.00 above the recent low, but we are still unsure whether this is merely a modest rally from an oversold condition or whether it is the beggining of a new and powerful bull move. Unfortunately, two indicators suggest the former as the more
likely scenario.

First, silver is sometimes a better trading indicator than gold and silver is demonstrating new weakness by falling below $17.20 this morning, giving back much of its recent gains.

Next, although gold is near its recovery high, mining share indexes have lagged badly with the average mining share index down about 2% already this morning.

There is one other note which is worth discussing and that is the pattern in the U.S. securities markets. The pattern of the latest gains since the panic bottom of a few days ago is virtually the identical pattern which we have seen several times during the past few years, namely a sharp decline
which raises many negative possibilities, followed by directed political statements which rouse the market to return to a bullish stance. That is precisely what we have seen during the past few days which strongly suggests to us that the securities market could have some further strength in the near term.

.....

Sorry for the brief nature of this report, but all problems should be resolved by Friday and I plan to write a lengthy submission in order to review our markets and the news background over the past few trading sessions.


 

 

Friday, October 17th, 2014

 

It has been almost amusing to listen to commentary from many financial channels and even 'conventional' newscasters.  If you listen to their tone, you might expect that the financial markets have been putting on a strong performance of late.  After all, day after day we have been hearing material such as "…the Dow recovered from its worst levels of the day…" or, "...the Dow rallied sharply into the close…" or, "…buyers showed up after early selling…"  Read Article


 

Wednesday, October 15th, 2014

 

I know I have a propensity for using song lyrics to make a point and I apologize if the stratagem has been over-used, but here I go again, remembering the famous line, "What a difference a day makes!"  I believe that line is fully applicable regarding the present gold market.  Read Article


 

Friday, October 10th, 2014

 

Quite a few years ago, a popular singer of the 1950s named Peggy Lee had a hit song entitled, "Is That All There Is?", meaning how little real emotion was generated in her life by a series of events which should have been earth-shaking.  That is precisely how it appears to me that the world of gold has . . .  Read Article


 

Wednesday, October 8th, 2014

 

Well, at long last the selling in gold and silver has abated and we are witnessing a modest rally as indicated by the daily charts for both metals.  Read Article


 

Monday, October 6th, 2014

 

For many months, it seemed we were waiting for truly decisive action to take place in the metals and in other associated commodities.  The wait is over.  Decisive action has abounded over the past few  . . . Read Article


 

MINUTE ARCHIVES

 
 

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