The offense sputtered in the first quarter while Miami jumped to an early, 3-0, lead, but the Buckeyes, led by sophomore quarterback Braxton Miller and his receiving corps, scored touchdowns on three consecutive possessions to go up, 21-3, before the half. OSU didn’t look back. Miller set an OSU single-game rushing record for quarterbacks in the win with 161 yards and one touchdown, breaking Cornelius Greene’s 1974 record. Miller also tied Greene for the most 100-yard rushing games in OSU history with four. “The objective with Braxton is to make him from an athlete playing quarterback to a quarterback that manages,” Meyer said. “He has to be a leader and he showed that today. By game’s end, OSU junior Carlos Hyde collected 84 yards and two touchdowns on 17 carries and receivers Corey Brown, a senior, and Devin Smith, a sophomore, each collected a touchdown reception before a chorus of Buckeyes added scores of their own. There were frequent off-field reminders that Saturday was Meyer’s first game at OSU, from the game day program, which featured Meyer’s likeness, to a banner unfurled by the Block-O student cheering section. Meyer, squinting from the sideline, focused his attention not on the celebration that was his first game as OSU coach, but the Silver Bullets defense, which was on-field for the first official snap of his Buckeyes coaching tenure. OSU eventually forced a Miami punt on its first series. Then, at the 13:34 mark of the first quarter, Meyer’s spread offense made its Ohio Stadium debut. Miller took the first snap and rushed for three yards. The possession, which began deep in OSU territory, eventually stalled, ending in a punt. Twice in the first quarter, Meyer’s defense had its collective back pressed against its own end zone. In the first instance, Miami freshman kicker Kaleb Patterson missed a 24-yard field goal attempt about seven minutes into the game. OSU was unable to dodge a second bullet, however, and Patterson redeemed himself on Miami’s next possession with a 23-yard field goal that put his side up, 3-0, with 5:06 to play in the first quarter. The Buckeyes, perhaps fortunate not to be trailing by two touchdowns, staggered into the second quarter trailing 3-0. Meyer said the first 15 minutes were embarrassing. “Obviously, the first quarter was very poor football,” Meyer said. Not only was OSU’s offense sputtering early, but Miami’s offense was stealing the show. The RedHawks outgained OSU in the first quarter, 178-42, and the partnership of Miami senior quarterback Zac Dysert and junior receiver Nick Harwell gashed the Buckeyes’ defense several times. Dysert finished the game, 31-of-53 passing for 303 yards and two interceptions while Harwell ended the game with 8 receptions for 120 yards and a touchdown. The second quarter yielded different results from the very beginning. The first big blow for OSU came when Miller lobbed a 38-yard pass to Brown, allowing OSU to cross into RedHawks territory and down to the 23-yard line for the first time in the game. On the next play, Smith hauled in a one-handed circus catch in the back right corner of the south end zone to bring OSU fans to their feet – it was the first score and lead of the Meyer era. “It was definitely my best all time catch,” Smith said. “I’ve had some catches at practice but nothing like this one.” The touchdown catch by Smith, who dropped down on his side after corralling Miller’s pass with only his right hand, capped an 83-yard drive that put OSU up, 7-3. The Buckeyes came right back down the field on their next drive and tacked on another touchdown when Miller found Brown on a five-yard touchdown catch to cap a 57-yard drive. OSU’s offensive stagger was gone – now it was swaggering, marching to two touchdowns on consecutive drives that lasted a combined 3:25. Suddenly, the Buckeyes were outgaining Miami, 188-172. Then came another score. A 33-yard rush by Miller pushed the Buckeyes down to Miami’s 2-yard line and Hyde finished the drive two plays later with a 2-yard dive into the end zone. The cheers softened, fans began to walk about the aisles and stadium corridors – it was a comfortable lead that OSU would only add to. Then came Hyde’s desperate, goal line lunge as time expired in the first half. OSU lost out on a chance at more points in that instance, but Miller made up for it early in the second half. OSU was back on the offensive a mere 17 seconds into the third quarter. Miller dashed down the visiting sideline and stuttered at the tail end of a 66-yard run to shake the lone remaining Miami defender before crossing into the end zone. Make it 28-3, OSU, and counting. Meyer’s special teams unit, which contains a subunit referred to by coaches and players as “the freak show,” got in on the scoring action too. OSU forced a RedHawks punt on the visitors’ next possession, but a play that was officially scored as a “team rush” resulted in a snap that never reached Miami’s punter. The ball was loose and sophomore cornerback Bradley Roby came up with it in Miami’s end zone for another touchdown to make it 35- 3. At 10:24 in the third quarter, Miami struck back when Dysert connected with Harwell on a 44-yard touchdown pass to narrow its deficit to 35-10. The pace of the scoring slowed for both teams after that touchdown, and the 35-10 score line held into early in the fourth quarter. OSU senior cornerback Travis Howard intercepted Dysert for the second time at the 14:09 mark of the fourth quarter, setting the offense up at Miami’s 5-yard line. OSU redshirt junior quarterback Kenny Guiton entered the game for Miller, who twice fell to the turf with cramps, and handed the ball to Hyde who ran five yards for his second touchdown of the day. With 9:33 remaining in the game, the OSU points kept coming. Guiton drove the Buckeyes down and put the ball in senior fullback and captain Zach Boren’s hands. Boren ploughed into the end zone for the first rushing touchdown of his OSU career and extended his team’s stranglehold to 49-10. Lastly, freshman Bri’onte Dunn scored with 44 seconds to play in his OSU debut, and the Buckeyes led, 56-10. “Our offense is built to keep scoring,” Hyde said. “That’s Coach Meyer’s standard, and to have fun.” All the while, the Buckeyes’ defense stifled Miami’s rushing attack, allowing, if you can call it that, -1 yards in the game. And the Guiton-led offense did its job running out the clock, allowing OSU to finish the game with a comfortable distance between it and the RedHawks. OSU will host Central Florida next Saturday at Ohio Stadium. Kickoff is set for noon. With Ohio State leading Miami (Ohio), 21-3, a mere three seconds before halftime, first-year coach Urban Meyer tried for a touchdown from the 1-yard line rather than take the easy field goal. “Ohio State should be able to knock it in from the 1-yard line,” Meyer said after the game. “I wanted to see how they would do.” The attempt, a desperate lunge by junior running back Carlos Hyde, fell short and OSU came up empty handed at the stroke of half time. Nevertheless, an impression was made – Meyer and his aggressive play-calling style had officially arrived in Columbus. It was that same aggressive style that allowed Meyer’s No. 18 Buckeyes (1-0) to cruise to a 56-10 win against the unranked Miami RedHawks (0-1) Saturday at Ohio Stadium.
Booker-Nominated Jeet Thayil and Bengali novelist Subrata Mukhopadhyaya were among 24 authors selected for this year’s Sahitya Akademi Awards, which was dominated by poets. Twelve of the 24 awards went to works of poets, which included K Sachitandandan (Marannu Vacha Vazhikal), late Bal Krishna ‘Bhaura’ (Tim-Tim Karde Tare) and Makhan Lal Kanwal (Yath Aangnaz Manz).Thayil, whose novel Narcopolis was shortlisted for Booker Prize, was selected for his poetry collection Also Read – ‘Playing Jojo was emotionally exhausting’These Errors are Correct in English category.The Akademi said 12 books of poetry, six short story collections, four novels and one each of autobiography and criticism were selected for the awards this year, two of them posthumously.The awards were given to books first published between January 2008 and December 2010. The award carries Rs 1 lakh cash, engraved copper plaque and a shawl.Among the poets, other winners are Guneswar Musahary (Boro Khonthai Also Read – Leslie doing new comedy special with Netflix), Chandrakant Devtale (Pathar Fenk Raha Hoon), H S Shivaprakash (Mabbina Haage Kabniveyassi), Kashinath Shamba Lolienkar (Kavyasutra) and Darsan Buttar (Maha Kambani). Aaidan Singh Bhatti (Aankh Hinye Ra Hariyal Sapana), Ramji Thakkura (Laghupadhyaprhbandhatrayi) and Krishna Kumar Toor (Ghurfa-I-Ghalib) are the other poets who were selected for the award.Assamese writer Chandana Goswami was selected for her novel Patkair Ioare More Desh while Mukhopadhyaya was selected for his fiction Birasan. Other novelists are Jodha C Sanasam (Mathou Kanba DNA) and D Selvaraj (Thol).In Gujarati, Chandrakant Topiwala’s critical study Gujarati Sakshibhasya was selected for the award while in Maithili Shefalika Verma’s autobiography Kist-Kist Jeewan won the award.Six short story collections also won the award. Jayant Pawar’s Marathi collection Phoenixchya Rakhetun Uthala Mor, Uday Thulung’s Ekantvas (Nepali), Gourahari Das’s Kanta O’ Anyanya Galpa (Odia), Gangadhar Hansda’s Banchaw Akan Goj Hor (Santali), Late Indra Vaswani’s Miteea Khaan Miteea Taaeen (Sindi) and Peddibhotla Subbaramaiah’s Kathalu Vol 1 (Telugu) were the winners in this category.
The agreement with Sumitomo on the Fourth of July project is a great compliment to our recent agreement with Newmont Mining on the Wood Hills South project. We also have the Arabia, Golden Shears and some generative efforts being funded through our joint venture business model. We have enough capital in the bank to last two more years and no debt. The share structure remains at 33.5 million fully diluted. We are very well positioned to have a major win with an incredible share structure. Renaissance Gold has proven through the joint venture business model what exploration success with a tight share structure can do. Renaissance is the spinout of AuEx Ventures that sold in 2010 and made just shy of 100x their first private placement. It takes technical strength and fiscal conservatism to generate meaningful share holder returns in the high risk exploration business. Please visit our website for more information. Well, you don’t need me to paint you a picture The gold price was comatose until the HFT boyz showed up shortly after 9 a.m. Hong Kong time on their Thursday. Then gold proceeded to chop sideways under the $1,300 spot price mark until the 9:30 a.m. EDT open of the equity markets—and at that point “da boyz” peeled some more off the price, with the low tick of the day coming minutes before 11:30 a.m. in New York. It traded sideways from there into the 1:30 p.m. Comex close and then crawled higher during the entire duration of electronic trading. The CME Group recorded the high and low ticks as $1,305.60 and $1,287.50 in the August contract. Gold closed the Thursday session at $1,293.90 spot, down $10.10 from Wednesday’s close. Not surprisingly, net volume was pretty decent at 139,000 contracts. Platinum wasn’t spared, either—and it closed down $15. Palladium got a mini version of the same treatment, but managed to recover and only close down a buck. Here are the charts. The silver equities followed an identical path, but sold off a bit more than the gold stocks. By the end of the Thursday session, Nick Laird’s Intraday Silver Sentiment Index closed down 1.89%. The gold stocks sold down right at the open—and chopped quietly lower for the remainder of the trading session, but rallied a hair in the last fifteen minutes of trading. The HUI closed down 1.56%. The dollar index closed at 80.81 late on Wednesday afternoon—and chopped higher, with a 14 basis point down/up move thrown in between the London open and the London p.m. gold fix. The index finished the Thursday session at 80.87—up 6 basis points on the day. The CME Daily Delivery Report drew a blank yesterday, as there were no gold or silver contracts posted for delivery within the Comex-approved depositories on Monday. There was a fairly decent withdrawal from GLD yesterday, as an authorized participant withdrew 115,474 troy ounces—and as of 9:50 p.m. yesterday evening, there were no reported changes in SLV. But when I edited today’s column starting at 3:55 a.m. this morning, I noted that iShares.com had updated their website and showed that an authorized participant had added 815,847 troy ounces of the stuff. The good folks over at the shortsqueeze.com Internet site updated their website with the new short positions in both SLV and GLD for mid July. The increase in SLV’s short position was only 7.41% or 1.41 million shares/troy ounces. I was expecting a far bigger number than that. I’m inclined to think that it’s a reporting error—and I know Ted will have something to say about it when I talk to him later today. I’ll let you know what he says. Anyway, the current short position in SLV as of July 15 now stands at 20,437,900 shares/troy ounces, or a bit over 635 metric tonnes. The short position in GLD declined by a smallish 3.33%, or 50,600 troy ounces. The current GLD short position [as of July 15] now stands at 1.47 million troy ounces, or just under 46 metric tonnes. For the second day in a row, there was no sales report from the U.S. Mint. The gold movement at the Comex-approved depositories isn’t worth commenting on, but it was another big day in silver, as 1,264,979 troy ounces were shipped out. Nothing was reported received. The silver came out of Canada’s Scotiabank—and HSBC USA. The link to that activity is here. Once again I have a decent number of stories, most of them from Roy Stephens—and I hope there are some in the list below that you like. In little longer than two or three weeks, gold jumped more than $80 and silver by more than $2, only to revert to a flat price pattern over the next 5 weeks or so, even though world events and tensions have rarely been as nerve wracking over the past month. The price pattern alone seems surreal and the explanation for the sudden lack of volatility seems to prove manipulation without a doubt. But, of course, there’s a lot more pointing to manipulation than the unusual price pattern alone. The quick jump in price, followed by the flat line, also involved one of the most dramatic shifts in market structure in history. In round numbers, some 50,000 silver contracts and 100,000 gold contracts changed ownership on the COMEX, as technical funds bought and commercials sold. That’s the equivalent of 250 million oz of silver—and 10 million oz of gold. Rarely have such quantities of COMEX contacts changed ownership in such a short time, particularly in silver. In terms of magnitude, if I were describing an earthquake or a hurricane, I would use the maximum levels of strength to describe the COMEX ownership change. – Silver analyst Ted Butler: 23 July 2014 Well, you don’t need me to paint you a picture, as you’ve seen this movie before. The only questions remaining are how long will it take JPMorgan et al to slice the salami to the downside—and how low will that take the prices of the precious metals involved, silver in particular. As Ted told me on the phone yesterday, it’s not the final price at the bottom that’s the issue, it’s the number of long contracts puked up by the technical funds, along with the number of short positions that “da boyz” can coax these same brain dead technical funds into buying as they engineer prices lower. Here are the 6-month charts for both gold and silver updated with Thursday’s trading data. The silver price chart was similar, except the sell-off that began at 9:30 a.m. EDT was much more vicious—and the low tick didn’t occur until minutes before 2 p.m. in electronic trading. From there the price recovered a few pennies into the 5:15 p.m. electronic close. The high and low ticks for silver were reported as $20.97 and $20.35 in the September contract. Silver closed at $20.365 spot, down 54 cents on the day. Volume, net of July and August, was just under 67,000 contracts. But of the total volume, about 7,500 contracts was traded in December and March, so those may have been rolls out of the September contract. It’s a little early for doing that, but I suppose it is possible. With or without the volume, it was a pretty busy trading day. Sponsor Advertisement Silver touched its 200-day moving average, but did not break below it. Unless the powers that be allow a rally to occur from here, it’s only a matter of time before the remaining moving averages are broken to the down side. Then we’ll see some major volume and price moves as the technical funds dump their long positions in a panic—and probably get set up on the short side once again. Wash, rinse, spin, repeat. As Ted mentioned in his quote above, in the five weeks since the gold and silver rallies began on June 5, the 50,000 Comex long positions in silver, along with the 100,000 Comex contracts in gold that the technical funds have bought, are now in the crosshairs as the Commercial traders ring the cash register for fun, profit—and price management. We got a taste of what was in store for us on Monday, June 14—and again, but briefly, on the following day. Now we got the next slice taken out of the salami yesterday. So the question still remains—how long and how many contracts? Only JPMorgan et al know the answer to that. But could we blast higher from here? Absolutely, but it won’t be the forces of supply and demand that determines that, because as Ted Butler pointed out recently, the key Commercial traders have captured the price-setting mechanism for all four precious metals [plus copper] in the Comex futures market. They—and they alone, will determine what happens going forward. But there’s still that black swan out in left field that could come along and bite the boyz on the ass—and it’s a distinct possibility. This week I reread Roger Lowenstein’s classic tome from 2000: “When Genius Failed: The Rise and Fall of Long-Term Capital Management“. It was wall-to-wall black swans and fat tails in 1998—and when things come unglued now, it will make that incident a footnote to what’s coming our way this time around. And as I write this paragraph, London has been open for 45 minutes—and up until this point in Friday trading, not much has happened. Gold is down a dollar or so, but the other three precious metals are all up a bit from Thursday’s close. Net gold volume is very light—and silver’s volume is a bit heavier. The dollar declined a handful of basis points up until a few minutes before the London open, but has rallied sharply back to unchanged on the day. Today we get the latest Commitment of Traders Report for positions held at the close of Comex trading on Tuesday, July 22—and I’m not about to make any prediction as to what the report might contain. But whatever the numbers are, I’ll have them for you in tomorrow’s missive. And as I hit the send button on today’s column at 4:55 a.m. EDT this morning, nothing much has changed with all four precious metals. Prices have flat-lined, especially in gold and silver. Platinum and palladium aren’t doing much, either—and gold and silver volumes have barely budged since I reported on them about ninety minutes ago. There’s almost no trading going on at all—and I can’t remember the last time I’ve seen it this quiet. Does it mean anything? Beats me. That’s all I have for today. I hope your weekend goes well, or you enjoy what’s left of it if you live west of the International Date Line—and I’ll see you here tomorrow. As you can see, the price decline in gold broke through its 50-day moving average—and touched the 200-day moving average before rallying off that mark.
By Justin Spittler, editor, Casey Daily Dispatch Abercrombie & Fitch plunged 23% on Monday. It was the stock’s worst one-day crash since 2000. The sell-off began after the once-iconic American retailer shared bad news. It admitted that no one wants to buy the company. You see, Abercrombie is in turmoil. Its sales have been falling since 2014. It plans to close 60 stores over the next seven months. It desperately needs a lifeline. So, the company was trying to sell itself. But no one wants to buy it. The company’s too toxic. After Monday’s crash, Abercrombie is down 54% over the past year. It’s trading at its lowest price since the dot-com crash. But it’s likely headed lower. It could even go bankrupt. If it does, it will become the latest victim in what I’ve been calling the “retail apocalypse.” Regular readers know this is a genuine crisis. These stocks are a great way to profit from the online shopping boom. And they trade on the New York Stock Exchange like most other stocks.Regards,Justin Spittler Delray Beach, Florida July 12, 2017P.S. Mark your calendar… Doug will be speaking at the 10th annual FreedomFest later this month. FreedomFest is an annual festival where free minds meet to talk, strategize, socialize, and celebrate liberty.In this can’t-miss event, Doug will unveil his newest novel, Drug Lord. He will also be involved in several debates, including a popular mock trial, “The Police on Trial.” FreedomFest 2017 will take place July 19–22 at the Paris Las Vegas resort in Nevada. To learn how to register—and how to get $100 off the ticket price—click here. Shah Gilani’s Monstrous 95% WIN RATE Continues We’ve never seen anything like it… since April 21, Shah Gilani has helped Money Morning readers make more money than maybe anyone in history. His last trade recommendation closed out for a 995% win. And he’s got seven more trades lined up right now. To date, his win rate is 95%. And they expect him to continue this incredible achievement for at least the next 18 months. You have to see this. — • Traditional retailers are failing left and right…More than 3,000 retail stores have already closed this year. By the end of the year, more than 8,000 stores could close their doors. That would be the most ever in one year. This is why I’ve been urging you to avoid traditional retail and mall stocks. If you took my advice, great. You’re out of harm’s way. But I didn’t write this essay to tell you what you already know. I wrote it to tell you how to turn the retail apocalypse into huge profits. You won’t even have to short (bet against) stocks or do anything else sophisticated. You just have to buy a special kind of real estate stock. I’ll tell you more about that opportunity in a second. But let’s first look at why so many brick-and-mortar retailers are dying.• Americans aren’t spending money like they did in the old days…They’re visiting the mall less…and doing more shopping online. Just look at the chart below. You can see that online shopping has increased nearly tenfold since 2000. This is clearly bad for traditional retailers and malls. But online shopping has triggered a huge boom in a small corner of the real estate market. Regular Americans Getting Filthy Rich… Thanks to the Idiots in Congress A few everyday Americans are making a fortune… thanks to those morons in Washington. This might be Congress’ dumbest move yet… Click here to see what they’re doing. After you see this, you might want to send a “thank you” note to your Congressman. Recommended Link — Prologis (PLD) Duke Realty (DRE) • I’m talking about industrial real estate companies…These companies own and operate warehouses and distribution centers. It’s not a sexy business. But it’s essential…and it can hand you massive gains in the years ahead. After all, every dollar of online sales requires three times as much space as a traditional retailer. Plus, online retailers need warehouses to store and ship goods, now more than ever. Just look at Amazon, the world’s biggest online retailer. Its demand for warehouse space surged 35% per year since 2007. That’s breakneck speed. Walmart, Alibaba, Overstock.com, and many other major retailers have also invested billions in warehouses. According to research firm Jones Lang LaSalle, online shopping has accounted for 40% of industrial real estate demand.• The industrial real estate market is now booming…Rental rates for industrial space have skyrocketed. In the U.S., industrial rents have climbed 9% over the past year. They’re up 25% over the past three years. Meanwhile, occupancy rates for industrial space are at the highest level since the dot-com bubble. Online shopping has also given industrial real estate stocks a huge boost. Just look at the chart below. It compares the performance of warehouse stocks with the S&P 500 over the last 12 months. You can see that warehouse stocks are up around 20% over the past year. That’s better than S&P 500’s return over the same period. Now, you might look at this chart and think you missed your chance. But don’t worry. This bull market has just begun.• Online shopping is going to double over the next five years…If this happens, retailers will need an additional 600 million square feet of new warehouse space. There’s just one problem. Jones Lang LaSalle explained it in a recent report: There’s simply little to no industrial product available… The market is on fire today for industrial property owners. In other words, there won’t be enough warehouse space to supply the next leg of this boom. That’s great news for industrial real estate companies. It means they can charge sky-high rental rates.• You, too, can cash in on this industrial real estate boom…The easiest way to do this is to buy an industrial real estate investment trust (REIT). These companies own, lease, and operate warehouses and distribution centers. Here are five industrial REITs to consider for your portfolio: First Industrial Realty Trust (FR) PS Business Parks (PSB) Recommended Link DCT Industrial Trust (DCT)