Craig Hemke discusses Brexit
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Does the reality of Brexit mean that it is time to “load up on gold” Here is what Craig Hemke of The TF Metals Report has to say.
LOL, the commercials are hedgers so the losses you quote don’t consider that they have longs as well. not all commercial bank positions are for their prop desk, some can be for miners, jewelers etc. you are so funny mr “paper’ man.
First the Magna Carta,
Then, don’t forget the US Constitution was written by a bunch of revolting Brits!
Now Brexit. Saves the real Europe.
What a great point, CFS!
Superb comments from Craig. I believe one of the most astute commentators out there. It looked like the second hour of markets was going to be one of ‘buying the dip’ in the conventionals. Now, I’m not so sure. Also, I was surprised by the recovery in the VIX. True, it shot up but seemed to be capped considering the real ramifications of what just happened. Let us not forget though, the counter party on TVIX as an example is a large European bank. They don’t want it to run.
Thanks Al for your earlier show and for having Craig comment again.
Concerning volatility, I’ve been busier than a one-legged man in a butt kicking contest.
I made a nice chunk yesterday shorting volatility because I thought the “stay” vote would win. I cashed out in the after-market yesterday, and bought some (UVXY). Today I’ve day-traded (UVXY), (SVXY), and (TVIX) a number of times each, and racked up some of the best gains trading volatility since last August. I’d messed up a with a few stinker trades in volatility a few weeks back, but after the last 2 days of trading, I’ve recovered those losses and made some serious hay while the sun was shining…..
In addition to day trading 3 different volatility vehicles all day long, I’ve been in and out of different Gold & Silver & Lithium & Uranium stocks, and haven’t even had a chance to catch my breath yet from all the trading action in today’s session.
Tonight I’m going to celebrate by popping open a bottle of bubbly for the Brexit vote, for Gold finally closing above $1307.80, and for one of the most fun days trading I’ve had in a while.
*One last thought…..
I really want to thank everyone on the KER that offers advice, charts, and technical analysis. Some of the information has sunk in after all these years, and TA gave me the tools to totally ignore the news flow and endless stream of opinions today and just trade using the charts.
It was very tempting to come up for air and read what everyone thought about the Brexit and the ramifications, but I chose to completely block out all opinions and just trade using the technical indicators today (zoomed in using the 1 minute charts with a 4 hour time horizon).
Now that I’ve wrapped up the day, I can finally get the scoop on what everyone thinks will happen next. I just wanted to thank those here on the KER that have offered assistance in teaching different aspects of technical trading because it worked great in a news vacuum (where it would have been far to easy to be swayed by every other article, news cast, video, and pundits 2 cents worth).
Cheers to the UK, to Gold finally closing above the Jan 2015 peak, and profitable trading to everyone next week!
Profitable trading to you,Excelsior!
You as well Pete. Hopefully you had some nice moves in your miners as the PMs popped.
Next week could get very interesting….
Yes,i had some nice moves in my miners,lets see about next week,i don´t know but, it feels like i want to trimm some more at/near this level,that could change of course.
Maybe its time to go on vacation.
Thanks,Excelsior
And, thank you for posting all the great info, and articles.Excelsior.
Pete – Glad to share info on mining companies that are stepping out from the rest of the crowd, or developments with established mining names where interesting opportunities are developing.
There have continued to be a nice number of mergers, acquisitions, equipment and mine acquisitions, and asset sales the last few months:
– Kaminak Gold’s takeover by Goldcorp – showcasing other opportunity in the Yukon
– NevSun’s takeover of Reservoir Minerals
– Seabridge/SnipGold merger
– Barrick/Coral Gold merger
– Parmount/Calico Resource merger (still a nice arbitrage in the Calico shares BTW).
– Hecla/Mines Management merger
– Teranga Gold/Gryphon Minerals merger
– Aura’s acquistion of the Ernesto Pau-A-Pique project to compliment their Brazil mine
– Aureus Mining’s restart of operations at their New Liberty Mine via JV with MNG Gold Jersey Limited
– Minera Alamos purchasing all kinds of equipment and processing plant to move their Gold project forward, and some of it will be applied to their copper project.
– Rye Patch’s acquisition of the Florida Canyon Gold mine
– Goldcorp acquiring 20% of Independence Gold
It has been wild trying to evaluate the new make-ups of many established producers with new assets, and counter-balance that with any debt created raising the funds or dilution to shares to conduct the transactions.
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Pete please keep sharing you great ideas on miners, opportunities, and analysis because it’s a big investing universe to keep tabs on, and the contributors on KER help highlight the stories to follow.
Thanks Al for your time, effort & expense. Favor & health in your household.
Maybe Craig is right about interventions because somebody really put their foot on the Yen and slammed it back down today. I am still amazed at how much it moved out of the blocks. You have to go all the way back to March 2011 to find anything even remotely similar. But back then gold responded by soaring over a hundred dollars right after the big Yen drop. How things change.
A2A with Greg Mannarino
http://www.tfmetalsreport.com/podcast/7695/a2a-greg-mannarino
Made some good money on miners and silver today. Lost 15$ on B-exit.
I’m a simple fiscally conservative 50 guy. I make 35k a year and buy silver when I can. I agree it’s money and our dollar bills are fiat. I see that silver is rising…
My question is this:
What would you do or have you heard what others would do in this situation;
Buy (stack up on) .69 over spot rounds
Or buy 2.00+ 4.00 over spot gov coins ?
Is silver just silver? More bang for the buck?
Or buy pricier coins that are gov backed ( and aren’t there dozens of different coins?
Craig ROCKS!