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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.

 
 

Monday, September 22nd, 2014

 

Anyone looking for decisive action in the silver market got it this past Friday - but it was not the kind of action the bullish investors wanted to see.  Beginning mid-morning, silver encountered heavy selling near $18.50 which drove the white metal down to about $18.20 at which point it broke below support levels which had held since early 2013.  When that occurred, as can be seen on the very short term silver chart, the selling turned into a rout and silver ultimately fell Friday by over 80 cents, top to bottom, from a peak near $18.60 to a daily low under $17.80 - the lowest price recorded for silver in over four years.    Read Article


 

Friday, September 19th, 2014

 

Several years ago one of the most popular Country & Western music stars was Buck Owens and perhaps his greatest hit contained the immortal line, "If it weren't for bad luck, I'd have no luck at all!"  Somehow, when I look at the six month charts for gold and silver, those sentiments appear to be particularly timely - unless, of course, one had adopted "short" positions during the past several weeks.  Read Article


 

Wednesday, September 17th, 2014

 

According to Ambrose Evans-Pritchard, famed financial writer for the UK Telegraph newspaper, the world may now be at one of those "damned if you do, damned if you don't" moments.   Read Article


 

Monday, September 15th, 2014

 

I just read a most interesting report in this morning's (on-line) edition of Canada's Financial Post and while it may seem surprising to include this discussion in a newsletter geared toward the precious metals, I believe it raises an issue worth considering.  I am talking about the continuing proportionate diminishment of paper currency transactions while increasing the proportion of computerized activities.   Read Article


 

Friday, September 12th, 2014

 

First, during the past two days, the price of gold has dropped below the level of late June and now sits close to its yearly low.  Worse yet, gold is now only $50 or so above truly important technical support in the $1,180 to $1,190 zone and a break below that chart area could have important negative consequences - particularly since a break of that nature could induce heavy selling by large numbers of chart watchers.   Read Article


 

Monday, September 8th, 2014

 

Since our primary focus has always been action in the precious metals, we also observe price action in those widely-used commodities that serve as indicators of present and future price inflation since the outlook for inflation is one of the major components of the fundamental case for gold and silver.   Read Article


 

Friday, September 5th, 2014

 

I noted a most interesting column in Wednesday's "National Post" newspaper authored by Terence Corcoran and entitled, "Terence Corcoran:  Why do we have insider trading laws?"  The article questions a series of laws which I personally believe do much more harm than good.  The laws in question relate to "insider trading" which is portrayed by many bureaucrats as an insidious evil. It is my personal belief that not only is insider trading perfectly rational and reasonable but the very existence of such trading - and traders - constitutes one of the most reliable of all trading signals for astute investors - particularly including investors who trade mining securities.   Read Article


 

Wednesday, September 3rd, 2014

 

Despite renewed weakness in the price of gold, there is one bullish interpretation available for those who remain optimistic regarding the precious metals.    Read Article


 

Tuesday, September 2nd, 2014

 

Quite frankly, during the past week there have been few important moves which represent any change from the status quo which has been established for some time.  As an example, the US Dollar Index, one of our most important indicators, continues along the trend toward higher quotes which has been established for some time.  Clearly, this index has now broken out to a new high for the past twelve months.   Read Article


 

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The information presented on companies herein is based on data and information which we believe to be true and supported from reliable sources. However, the accuracy of this information is not implied nor can it be guaranteed. All objective reports contained herein are those of the editor and are offered for a fee and are to be used for information purposes only.

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