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Eric Parnell, CFA  

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  • Crossroads, Will They Ever Let Stocks Go? [View article]
    Hello Joseph,

    Thanks for your excellent comments as always. I agree with your perspective here. I also enjoyed reading your most recent article on SA (I've included a link below for readers in case they missed it) and look forward to your upcoming posts on SA.

    http://seekingalpha.co...

    Thanks again.
    Apr 21, 2013. 11:29 PM | Likes Like |Link to Comment
  • Crossroads, Will They Ever Let Stocks Go? [View article]
    Hello contrarianadvisor,

    Thanks for your comment and excellent points. I agree with you, Stanley and Joseph that this is a very real risk facing the market right now and going forward. And precisely to your point, if we do see a break of this nature where institutions all trigger sell signals at the exact same time, the subsequent downside in stocks could make the recent liquidation in the precious metals complex look very mild in comparison. This is a topic that I wrote about a few days ago in a recent article. I've included a link just in case.

    http://seekingalpha.co...

    Great comment. Thanks again.
    Apr 21, 2013. 11:25 PM | Likes Like |Link to Comment
  • Crossroads, Will They Ever Let Stocks Go? [View article]
    Hello vraykin,

    Thanks for your comment and for your question. I appreciate it and you are actually reading my mind, as the question that you've raised here is actually the focus of an article I hope to submit for publication sometime this week.

    I am interested in some of the names that you are focused on and the approach that you are taking. If you have the opportunity and are willing, please let me know.

    Thanks again.
    Apr 21, 2013. 11:21 PM | Likes Like |Link to Comment
  • Crossroads, Will They Ever Let Stocks Go? [View article]
    Hello uncensored patriot - Thanks for your comment. I appreciate it!
    Apr 21, 2013. 11:19 PM | Likes Like |Link to Comment
  • Crossroads, Will They Ever Let Stocks Go? [View article]
    Hello Stanley,

    Thanks for your comments both here as well as on my other recent articles. I always enjoy reading your commentary and perspectives. And I believe that your conclusions are correct that market forces will prevail in the end, as any efforts to influence capital markets can only be sustained for so long until underlying fundamentals finally take over. And to your point, once this break finally occurs, the subsequent downside could be quite significant.

    Excellent points as always. Thanks again.
    Apr 21, 2013. 11:18 PM | Likes Like |Link to Comment
  • Crossroads, Will They Ever Let Stocks Go? [View article]
    Hello animalspirits,

    Thanks for your comment. This is an important point that the seemingly endless flow of liquidity from global central banks over the last several years have distorted financial markets to the point where it has compromised the effectiveness of both fundamental and technical analysis to a meaningful degree, which is problematic from a health of the markets standpoint.

    Great point. Thanks again.
    Apr 21, 2013. 11:15 PM | Likes Like |Link to Comment
  • Crossroads, Will They Ever Let Stocks Go? [View article]
    Hello tampat,

    Thanks for your comment and for making this very important observation. One of the things that has been troublesome about the rally over the last several months is the fact that momentum and relative strength have been fading not only for the market as a whole but most of the sub-components that make up the market. And to your point, this does not bode well at all from a technical standpoint for the sustainability of the recovery much longer unless these readings suddenly start to reaccelerate.

    Excellent point. Thanks again.
    Apr 21, 2013. 11:13 PM | 1 Like Like |Link to Comment
  • Beware The Risk Of Stock Liquidation [View article]
    Hello thucydides123,

    Thanks for your comment and for raising an excellent point. You are absolutely right that this is a very possible outcome that increased commodities supplies is leading to an environment of sustainably lower input costs, which would not only keep inflationary pressures in check but would also be supportive of increased corporate profit margins and higher profitability. This, of course, would be supportive of higher stock prices.

    So I absolutely agree that the scenario that you've described here is definitely a possible outcome. I suppose the keys to it playing out in a sustainable way is that global economic growth accelerates while all of the liquidity that's been pumped into the financial system does not spill over into commodities markets and commodities producers do not pull back on supplies due to prices falling below cost of production. This will be something that will be interested to see how it develops in the coming quarters.

    Outstanding points as always. Thanks again and I hope you are doing well.
    Apr 18, 2013. 10:30 PM | Likes Like |Link to Comment
  • The 3 Faces Of Silver [View article]
    Hello tunaman4u2,

    Thanks for your comment and for sharing your insights and perspectives. I went and checked this out on your recommendation and this another very notable development indeed. The demand on the physical side is certainly telling a very different and decidedly more positive story right now for the PMs.

    Thanks again.
    Apr 18, 2013. 10:23 PM | 1 Like Like |Link to Comment
  • The 3 Faces Of Silver [View article]
    Hello Tas 2010,

    Outstanding comment and thanks for raising this point. The fact that PSLV is trading at a discount to its net asset value most notable, as it has traded at a roughly 10% premium to net asset value on average since the inception of the product two and half years ago and now marks the first time that it has ever traded at a discount. This is particularly notable given the recently hefty premiums widely reported in the physical market.

    http://bit.ly/VOuhkZ

    Outstanding point. Thanks for mentioning it.
    Apr 18, 2013. 10:18 PM | Likes Like |Link to Comment
  • The 3 Faces Of Silver [View article]
    Hello dnpvd51,

    Thanks for your comment and for raising a very good question. As a long term holder of precious metals, I prefer the Central Fund of Canada and Sprott products for the transparency associated with these holdings and clarity of their prospectus information. But for those interested in trading gold and silver, incorporating options strategies or establishing a short-term position in the metals, both GLD and SLV do work well, particularly given their historically low tracking error relative to their underlying metals prices.

    Great question. Thanks again.
    Apr 18, 2013. 10:11 PM | Likes Like |Link to Comment
  • The 3 Faces Of Silver [View article]
    Hello Emmet,

    Thanks for your comment. I appreciate it.

    Thanks also for your recent articles on the precious metals and the miners. The insights and detail are always excellent. I look forward to reading your upcoming articles on SA.

    http://bit.ly/11owLo7

    Thanks again
    Apr 18, 2013. 10:07 PM | Likes Like |Link to Comment
  • The 3 Faces Of Silver [View article]
    Hello Michael,

    Thanks as always for your excellent comments. You have been spot on with your recent calls and I look forward exploring your current perspectives and strategy in more detail.

    Thanks again and I'll talk to you soon.
    Eric
    Apr 18, 2013. 10:04 PM | 1 Like Like |Link to Comment
  • Beware The Risk Of Stock Liquidation [View article]
    Hello RM13,

    Thanks for your comment and for making a number of great points. Whether the market activity over the last few days marks the beginning of a sustained correction remains to be seen, but once we enter the final washout phase at some point, the big question will be whether it is a swift and sharp correction or if it is a slow and steady grind lower. I suspect with all of the continued efforts to prop up markets by policy makers, the final cleansing would be an initial spike lower followed by a slow, steady and uneven grind similar to the 2000 to 2002 period. Part of the key is where the final correction starts from, as it could just as easily end up being a few hundred more S&P points higher from here too depending on how much longer the market decides it wants to run. It will be interesting to see.

    Thanks again.
    Apr 17, 2013. 11:06 PM | Likes Like |Link to Comment
  • Beware The Risk Of Stock Liquidation [View article]
    Hello fishfryer,

    Thanks as always for your comment. To your points, I remain perplexed at the persistence of the U.S. Federal Reserve in somehow viewing the stock market as a vehicle to try and achieve their dual mandate of full employment and price stability, particularly when the pass through benefits have proven minimal to this point several years after the outbreak of the financial crisis. Moreover, while some in the media may continue to think the stock market is a relevant barometer for the economy, I believe the American public, less than half of which is even invested in the stock market today, has tuned it out long ago, as the stock market in no way reflects the reality that so many people are living today. So much risk associated with endlessly expanding the Fed's balance sheet with so little sustained economic benefit to show for it.

    Thanks again.
    Apr 17, 2013. 11:03 PM | 5 Likes Like |Link to Comment
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