Financial Sense Newshour: Big Picture

Jim welcomes back noted technician Tom McClellan of The McClellan Market Report. Tom sees some near-term problems in the markets through the summer, but is optimistic long-term on the stock market for the balance of the decade. Tom sees gold cycling up, and notes that junior gold stocks are widely disliked, and thus present a great opportunity. Also, Ryan Puplava has the Market Wrap-up this week, Erik Townsend discusses commodities, and Rob Bernard looks at the fixed income market. (Click here for charts)

Jim welcomes renowned geologist Keith Barron, PhD to the program. Keith was co-founder of Ecuadorian gold explorer Aurelian Resources Inc. and made the colossal Fruta del Norte gold discovery in 2006. Keith is currently founder and Exploration Geologist at U308 Corp. Keith and Jim discuss the new “gold stock paradigm” that is emerging, where companies are becoming more investor-friendly, relying less on the old “acquisition of ounces” model, and more on increasing shareholder value through cost controls, and emphasis on quality over quantity.

Jim is pleased to welcome back legendary technician Ralph Acampora, Director of Tactical Investments at Altaira Wealth Management. Ralph sees the market in a corrective mode, which could last a month or so. He notes divergences in the Transports and the DAX. He sees the US and Japan as the best places to invest, and believes the secular bull is still in the early stages. However, Ralph sees the bond bull-market in the 9^th inning of its long 30 year run. Also in this segment, Ryan Puplava wraps up this week in the markets, Erik Townsend discusses gold and commodities, and Rob Bernard looks at bonds and interest rates in the Fixed Income Report.

In this segment of the Big Picture Jim looks at the large decline in gold and silver, and gets into the reasons behind the carnage, as well as the huge difference between “physical gold & silver” and “paper gold & silver”.  Jim notes that investors should know why they own gold, understand it, and then leave it alone. Also, Kathy Derbes CFA, and CEO of KDerbes Precious Metals LLC, joins Jim in this segment. She notes the current record buying of physical precious metals, last seen during the Lehman crisis, and says her firm is “completely out” of Silver Eagles. Kathy is not even taking orders for more Eagles, as it may take six to eight weeks or more to acquire them.