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Trader Rog tells Big Al that technical indicators indicate increased buying in the junior resource sector

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July 5, 2011

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Discussion
15 Comments
    Jul 05, 2011 05:55 PM

    Great show. Excellent analysis of the Junior gold chart. I have a noticed myself some pick up in strength as well the past few days in some companies I own with the exception of Premium Exploration. Do you feel that the warrant overhang on PEM is going to mean a low, grinding share price til the warrants are exercised>

      Jul 06, 2011 06:07 AM

      Hi Seamus,

      That is a puzzle to me. I do own Premium and I am not planning to sell anywhere in the near future. If I change my mind I will certainly let listeners know.

      I look for big things to happen in the mining industry in Idaho.

      Best,

      Big Al

        Jul 07, 2011 07:54 AM

        Hi again Seamus,

        I am in Vancouver and will be meeting with the folks from Premium for lunch at 11:30 a.m.

        Will get back to you regarding that meeting.

        Best,

        Big Al

    Jul 05, 2011 05:40 PM

    Hello Al & Roger,

    I just have a basic question not really related to any particular show.

    I’d like your opinion on the Silver margin increases that we had last May. Both Gold and Silver are worldwide markets last time I checked. But with the Comex margin increases, it seems as if the United States Comex decides when a commodity is too ‘volitile’ and decides to increase the margin requirements to drop/crash the commodity. (They did the exact same thing to Crude Oil)

    Do you think it is fair that the US Comex can control the price of a commodity that is traded worldwide? What gives the Comex the right to determine and control the price of a commodity, especially if it is a worldwide market?

    I do not remember the Comex increasing margin requirments when Gold was in a solid uptrending rally (Or any other metal commodity) and dropping the price 30%+ in 5 trading days.

    On a side note, I read that George Soros sold his position in GLD right before the Comex margin increases. He must have a 6th sence or a really great trader…

    I’ll stop by and say hello at the S.F. Hard Assets conference in Nov. Keep up the great program.

    Glenn

    Jul 05, 2011 05:02 PM

    I have owned GDXJ since it’s inception. It is not a question as to whether it will go up. But rather, when it will explode to the upside. As demand increases, seniors will need in reasingly more resource. Not all will go parabolic but if you do your homework and stay in the loop, you can make a lot of money.

      Jul 06, 2011 06:27 AM

      Hi Jed,

      I completely agree with you.

      Big Al

    Jul 06, 2011 06:09 AM

    Here is a comment from a listener in Germany regarding one of our sponsor companies, White Tiger:

    Hello Al,-
    as shareholders of White Tiger we have to be patient……..
    What do you expect about the further development of this year……..do you expect significant higher share prices, too ?
    Greetings from Germany
    Harald

      Jul 06, 2011 06:10 AM

      Hello Harald,

      I will be meeting with White Tiger later today or tomorrow. I will give you my opinion after those meetings.

      Best,

      Big Al

    Jul 07, 2011 07:44 AM

    Nice popups in gold and silver yesterday! Anyway, I noticed last night that the GDXJ:GDX ratio on stockcharts.com

    http://stockcharts.com/freecharts/gallery.html?GDXJ:GDX

    has had a lovely row of updays with nice outperformance of seniors by juniors.

    Now I listen to Rog and he is liking the action in the GDXJ itself. Great Stuff – I hope!

      Jul 07, 2011 07:53 AM

      So far Trader Rog has been right on.

      Very valuable guy for our show.

      Big Al

    Jul 07, 2011 07:48 AM

    Hi Al and Rog,
    We have not heard about Extorre Gold much lately, so I went and looked at the chart. Good grief – it’s flying! I wish I owned some.
    It’s flying while all the others have been correcting in the last 6 months. Any comments?

    Jul 07, 2011 07:50 AM

    Extorre is flying while Exeter slumps in the opposite direction. They seem to be a hedge for easch other. Any comments on Exeter? It seems like a high grade smaller discovery is trumping a low geade big discovery big time.

      Jul 07, 2011 07:52 AM

      Good Morning silverbug (Dave)

      I have invited Yale to come on the show to discuss this issue for the Weekend Program.

      Here’s my take as of this moment: Extorre continues to have great exploration results. Exeter is currently working on advancing engineering issues which will be announced in the fourth quarter. Exeter, therefore, is kind of in a state where we are all waiting for results.

      Listen to the weekend show.

      Best,

      Big Al

    Jul 07, 2011 07:54 PM

    Well, I’m not sure what buying Trader Rog is seeing in the Junior Resource sector but it certainly hasn’t began in any of the Juniors in my Portfolio. I own 7 or 8 and all of them except one is at its 52 week low or within a penny or two of it. The losses over the past 3 months has been devastating and I would be elated to see any sign of Buying coming into this market but apart from the large cap US stocks in the Dow Jones, I simply dont see it. Most Juniors are down 50% or more in the past few months and yet the Dow is close to 52 week highs. Something is very wrong in the Resource Sector and I dont know what the solution is.
    Great show though, I love hearing the various discussion topics and one of these days our sector will not be the ugly sister it has been for a considerable time now.
    thanks
    Robb

    Jul 08, 2011 08:20 AM

    and today it gets even worse with one of my core holdings, Finlay Minerals down another 17% to a new yearly low.
    Is there really any point in putting any money in the resource sector at all? The odds of losing all or most of your investment is just so high, I’m seriously thinking about quitting this sector altogether. Even with record commodity prices, most of the companies stock performance is just abysmal and being down 50% in your portfolio during a ‘commodity bull market’ is sole destroying.
    Hope others are faring better.
    Good luck to all here.