Initial Wednesday Commentary from Rick
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Dingbert thinks the Fedsters still have time to save the DemonRats so look for big “stimulus” announcements in the coming weeks. Gotta keep an eye on the lamestream media.
Eddie,
I had an interesting discussion with Rick earlier today about the media. Lame and lazy seem to really be the orders of the day.
i believe that is the same story that we have been preching.
Not exactly……..
Peter is talking emerging markets to take off, and US market are headed much lower.
Gold up……….1194……..up date.
up $6
The million dollar question is, “will this continue”? I personally believe that it will.
No doubt in my mind……………………………….J THE LONG
ABX……soft launch today……..
LONDON FIX………..move over………..
BDI at 291 and still dropping.
Rig count still dropping.
SCFI still dropping. (Shipping Container Freight Index)
Gold is still looking strong and correcting like it is in a bull market. I bought some gdx down at 16.3 as I missed the rally.
I would agree, Paul L.
My Netflix buy is up about 10% and helping my oil stocks.
Avi Gilburt points out something that I know to be completely accurate:
“I see some of you attempting to look at the overbought nature of the technicals on the miners and metals and view it as simply another topping pattern just like all the others we have had for years.
The issue that many overlook is that we apply those technicals differently during bull moves vs. bear moves. You see, if the market has truly bottomed and transitioned into a bull phase, then overbought indicators simply remain overbought as the market continues higher in a 3rd wave. This is when technicals imbed and why so many are caught off guard when a market transitions from bear to bull.
So, do not assume an overbought indication in the techncials will mark a top this time, and maintain an open mind to the potential that the market may have finally transitioned. Due to the potential of a bottoming pattern in place in GDX, we now need more than just an overbought indication on the technicals to confirm a top to a corrective rally. We also need to see a Fibonacci Pinball support level broken by an impulsive structure to the downside.
Thanks. It is a good reminder that the market will be using a different playbook moving forward. I’m going to work to “maintain an open mind to the potential that the market may have finally transitioned.” I was never closed-minded to it, but was still expecting another leg down. There is now the potential that these lower lows will never come, so this is why I am still holding core positions in some mining stocks (in case it’s a shock and awe campaign to the upside).
I’ll admit to trimming my mining stocks yesterday into the overbought conditions, but many of them pulled back today, and I could buy them right now for less, so it was advantageous. Maybe I’ll buy them back on sale today.
I bought some mining shares back today at a nice discount to where I sold them yesterday, so that’s a win-win. Holding for the next leg up that is supposed to leave people scratching their heads (I hope it is not me….. 🙂 )
Nice. I could have done some that today too, but decided to add to other positions.
At this stage, I’d rather get caught “in” than out of my spec juniors.
Here’s how I feel about having more of an exposure to the miners……
Good example of “staying nimble” Excelsior.
Yep. That’s why I didn’t sell my RGLD@41 after recently buying it @27.5. I know it’s due a pullback, but I don’t want to miss the ride up to 100.
thanks Matthew.
Gary has been saying this for almost a week. Now Avi is agreeing and taking credit for Gary’s calls and ideas??? What a joke. Give Gary the credit!
Were you referring to this article?
Has the Bull Market Finally Returned?
Avi Gilburt – Posted Feb 10, 2016
http://www.321gold.com/editorials/gilburt/gilburt021016.html
This chart deserves the benefit of the doubt. GLD couldn’t even reach the 5 day moving average on the dip this morning.
My juniors are up more than 2% today.
Make that 4%
Well done sir.
I was able to get many of my stocks back for less than I sold them yesterday, but you are a better stock picker than I am. I did have a good uranium trade today in URRE for 16.9% so that was positive.
Alexco looks like it could start Phase 2 any day now. Needs to break above $US 0.55.
Hi Brian.
I also think Alexco looks quite promising.
I have not heard of it befor on this site. Is it one of Brent Cook’s picks?
Anders F.C.
Alexco (AXU) is a Silver producer & explorer with a whole lot of upside, a big resource in the ground, and their mine is presently on care and maintenance. They believe when they come back into production their AISC will be down around $14-$15 (a big improvement). There will be a big multiplier effect to this stock price if Silver makes a move higher.
Here is their corporate presentation highlighting the optionality to the Silver Price:
http://www.alexcoresource.com/i/pdf/ppt/Alexco-Resource-Corp-2016-01-22.pdf
Check out page #14 on that Alexco presentation.
Will Alexco break out of the top support zone at $0.51on this rally? This is the 3rd time in a year it has attempted to break out. This time, AXU could very well reach higher highs if PMs get the boost upwards that some are expecting.
CFS
That chart illustrates the possible end of PHASE 1 (3 tests of the same resistance) PERFECTLY.
Beauty, chart, eh?
Yahh… you betcha
Alexco is not on the radar of most analysts.
The PROs are:
Pure Canada Silver (YUKON)
60M ounces
745 g/t
400 tpd mill (2M ounces per year) that is mothballed until $US 16-17 silver
Profitable Environmental division
CONs:
25% stream to SLW @ $3.90 per ounce
Almost no cash, to speak of
@ CFS andExcelsior: Cheers!
Insider Info is NOT good:
Sorry that the screws up.
As of 11:59pm ET February 9th, 2016
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction Volume or Value Price
Feb 1/16 Jan 29/16 Zimmer, Richard Norman Direct Ownership Common Shares 10 – Disposition in the public market -4,101 $0.510
Feb 1/16 Jan 29/16 Thrall, Bradley Allen Direct Ownership Common Shares 10 – Disposition in the public market -6,337 $0.510
Feb 1/16 Jan 29/16 Krepiakevich, Terry Direct Ownership Common Shares 10 – Disposition in the public market -4,526 $0.510
Feb 1/16 Jan 29/16 McOnie, Alan William Direct Ownership Common Shares 10 – Disposition in the public market -2,716 $0.510
Feb 1/16 Jan 29/16 McOnie, Alan William Direct Ownership Restricted Share Units 57 – Exercise of rights -5,000
Feb 1/16 Jan 29/16 McOnie, Alan William Direct Ownership Common Shares 57 – Exercise of rights 5,000 $0.515
Feb 2/16 Jan 28/16 Van Nieuwenhuyse, Rick Indirect Ownership Commomenu_tickersearch=Alexco%20Resource%20Corp.%20%7C%20AXR#sthash.APVAoC5z.dpuf
What was the transaction that Rick was involved in?
The amounts are small so I would need more info before I would consider the sales to be negative. Maybe they were just exercising options that were approaching their expiration. Or maybe they were attempting to time the market with a small part of their positions.
Agreed. Small amounts, some were the exercise of rights, and they were all around .51 which has been a top 3 times now. They may be selling right before things actually lift off. Just because they are insiders doesn’t mean they are stock geniuses.
The total amount of these transactions is US$ 13,840, at today’s close. Noise, in my opinion.
Yeup. Small potatoes….
Peter Schiff at usawatchdog……….says US stocks are going down, EM is another story ,and gold going up…..