Watch for a stair step move for gold
Doc and Cory focus on gold. Doc is sticking with his call that a pullback in spring/summer will occur and we will need to see how deep it will go. Big picture though is Doc saying “this is the first year in a long time that I am starting to feel good about the precious metals”.
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the only thing about a pull back tomorrow……..it will be Friday. Is the London Fix, fixed.
Yamada……….says…….gold is in accumulation mode.
Much preferred to distribution mode (if one is thinking long)!
ditto…………………….J the long………
Oil should be spending more time in the bear hug than gold, since gold has been in the bear hold for four yrs. and is now getting an escape claws……..just saying THE CLAW
Hi Doc
Can you please share some names of the miners you’re looking at? Not as investment advice, but it would be great to have some ideas for my own research. Thanks for any ideas.
I currently have taken a position in GPL and will add on pullbacks. I’m waiting over time to take positions in EXK and PAAS. Also, possibly in CDE. These are all silver names. For my shot in the dark gold companies, I’ve a position in XRA. I’m considerng KOR when it bottoms and will start purchasing MRZ on the next pullback. TGM is another one of my speculative plays as regards miners. I currently have a large position in Claude. I also own RIC and HMY and NMI and OGC. I’m watching to purchase PG, PVG, and NG on their next pullbacks. I also will take a position in KDX when I feel it’s bottomed. AUY and SAND are also on my watch list. There are others but these are just some.
Doc, I appreciate your insights on all of these things. Would you believe that I bought HMY near .60 and sold around a dollar thinking it will give it all back soon? I hope it retraces again for my own sake. How do you feel about GORO? It’s looking nice to me as well.
Wiseguy, I don’t know fundamentally that much about GORO but the technicals are telling me it’ll head back down to 1.20 again—it appears you don’t have to worry about it getting away from you here. I might add that another stock I like is KGI based on purely technicals—It’s in my 200 week MA stocks to buy—I’ve about 6-8 that are in that classification.
Kirkland Lake has been one of the stocks outperforming the sector, and it is an interesting fundamentally as it is technically, and is why it has been outperforming.
Thanks a lot Doc. Some great ideas to dig into and I appreciate it. PVG is also very intriguing to me.
First MIning Finance FFMGF and Midas Gold MDRPF also look very interesting fundamentally once things turn (I’m not a technician).
Sprott is invested in both and I think Brent Cook is also positive on Midas, if I’m not mistaken, FWIW.
FF is interesting but it is new, untested. I have some Sprott Precious Mineral fund as the bet for small and medium tier of gold and silver sector.
Rick Rule, brilliant, as always:
“So one thing I’ve learned over 40 years in this business is that not mining is much easier than mining.”
Doc, are you buying PPP today? It’s down 27% on word the Mexican taxman is going back on the deal it made several years ago. PPP’s lawyers say they will win the case. This could be a good chance to buy.
Bonzo, thanks for that info—I’m going to technically watch this company very carefully over the next few days and weeks and if it continues to move down as an over-reaction, will probably become interested in purchasing shares.
Thanks, Doc. I’ve owned PPP for years and made a lot and then lost it all and now have a loss. It’s a good company with mines in Canada as well as Mexico, and today’s plunge looks silly. Let me know when you think it’s time to buy. You are watching EXK and PAAS,which I also have owned for years. If you like silver you should also look at AG which I also own, as well as Alexco, HL, SSRI, and SLW. They are all better than CDE in my opinion. I’ll be glad when you join me as a holder of PVG. I also own DRGDF, VGZ, NSRPF, EGO, TGD, MUX, OKSKF, SAND, FNV, RGLD, NEM, GG, AUY, DRD, and NGD. I am ready for gold to go to 5K.
Bonzo, I forgot to say that I own alexco.
And I forgot that I also own GORO.
Yep. Saw that. Genius. Very funny.
Great video with Rick Rule on optionality and he makes some great points. Some of my more speculative strategies are very much in alignment with this same thinking.
Doc, I remember when you said it wasnt going anywhere. You said gold would be range bound 950-1100 for 2016. Now were at $1155 on Feb 4th.
Ronny, this is just another move up for gold like many other years. Expect it to move down into May in the near future. I believe I said that by the end of the year gold (as a guess) would be about 1100. You asked me to guess and I guessed—not based on any technicals. Gold isn’t going significantly higher in the near future—it’s topping out and will head lower. Just remember; asset prices go up and down; they don’t stay at one price forever.
Could you please let me know how I can follow Richard Postma? What is his web site?
Thanks a million,
Farhad
this is it…………….
GOLD final bottom with reversal pattern:
Cup & Handle with 38% Fib retrace
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&b=5&g=0&id=p56353798585&a=444048629&listNum=1
looks more like a cup for tea, with a bag holder on the side………. 🙂
ATAC Resources has a bullish H&S bottom in play and is up 55% since its December low.
I don’t own it directly but have exposure through Strategic Metals (SMD).
Doc..Matthew… any thoughts on NMM or ONVO?
NMM lost the divy and BID at new lows. ONVO hit the upper BB, but has a good story behind it or a Bio stock that has a habbit of being sold off with 3D stocks.
Matthew – thanks again for the heads up on Strategic Metals. I’ve been reading up on them more on their website.
The only way I can try and repay the favor is by recommending Eurasian Minerals as they have a similar kind of approach. I’d be curious to see what you think of their royalties, JVs, and partial investments in a number of different mining companies.
Thanks Ex. EMX sure has a large asset portfolio. I did notice that cash was low until the sale of the Haiti JV interest and that it trades at book value (which can be an almost useless metric in this space).
Looking at the stakes held by the largest shareholders, it must have fared well in the due diligence requirements.
Stephens Investment Management, LLC 10,547,867
Sprott Inc 7,142,150
Sprott Asset Management LP 6,874,901
Mason Hill Asset Management Incet AL 1,676,200
Euro Pacific Asset Management, LLC 1,446,213
I’ll have to take a closer look.
NMM is going lower—it certainly is looking tempting. I understand they’re going to end their distributions (dividends) by the end of the year. It tells you they’re worried about losses and cash flow going forward. One wonders about bankruptcy when companies become desperate. ONVO looks like it’s going to rally a little bit more and then it’ll in all probability fall back again toward its’ recent lows. Then we’ll see if it moves lower over time.
Thanks Doc!
I banked twice on NUGT this week Doc based on what I have learned from you and Phil Grande. Might try for a scalp in DUST.
I’ll take two weeks……………..and then a vacation………..