A focus on what is driving the equity markets
On the market wrap today Doc and Cory focus on what is driving the equity markets. We look domestically and internationally for what forward looking investors are seeing that gives them confidence to invest.
Click download link to listen on this device: Download Show
Why do you think Osbourne is in the US, if not to say UK is open for trade deals independent of the EU?
Well, that is obvious.
Doc, I sold 1/9 of my AG@16.5 today after seeing it rise from 2.57 to 16.8 this year. Now i’ll have some powder if there is a pullback this summer.
One stock I’ve been unsuccessfully chasing is now up 70.73% this month alone!
(Probably because I’ve been increasing my bids!
Close Update: S&P 500 Closes At Record High on Upbeat Labor Market Report, Japanese Stimulus, Q2 Earnings
04:47 PM EDT, 07/11/2016 (MT Newswires) — The S&P 500 closed at an all-time high of 2,137 as investors’ appetite for risk continued for a second day on signs of robust U.S. job market growth. Friday’s report from the Labor Department contributed to solid gains across Wall Street with the Dow Jones Industrial Average at its highest level in more than a year and the Nasdaq flirting with 5,000 for the first time since December.
Wall Street was also buoyed by expectations for upbeat Q2 corporate earnings, starting with Alcoa (AA). The steel maker reported above-consensus adjusted earnings of $0.15 per share on better-than-expected sales of $5.3 billion, driving AA shares up nearly 4% in after-hours trading.
Stock futures were trading higher following the lead of their overseas counterparts after newly re-elected Japanese prime minister Shinzo Abe announced plans to introduce additional stimulus measures. Abe said that his government will capitalize on near-zero interest rates to issue construction bonds for infrastructure projects. In response, the Nikkei rallied 4%, spilling onto Euro-zone bourses which closed nearly 2% in the green.
UK equities got a shot-in-the-arm by the selection of a new British prime minister. Home Secretary Theresa May was chosen by parliament to succeed David Cameron, and navigate the UK through the post-Brexit landscape. Although May was in favor of staying in the European Union, she does not endorse a second referendum, telling reporters “Brexit means Brexit.”
Monday’s economic data was extremely thin with only the labor market conditions index. After June payrolls increased 287,000, the LMCI improved to negative 1.9 from a revised negative 3.6 in May.
Tuesday’s calendar is also light with just the May report on job openings and labor turnovers (JOLTS), and wholesale inventories for May (expected +0.2%).
Here’s where the markets stand at the close:
US MARKETS
Dow Jones Industrial Index was up 80.19 points (+0.44%)
S&P 500 was up 7.26 points (+0.34%)
Nasdaq Composite Index was up 31.88 points (+0.64%)
GLOBAL SENTIMENT
FTSE 100 was up 1.40%
Nikkei 225 was up 3.98%
Hang Seng Index was up 1.54%
Shanghai China Composite Index was up 0.23
Volatility Index VIX And SP500 Comparison Vis-a-vis 2008 Market Top
>Chris Vermeulen – July 11, 2016
http://www.gold-eagle.com/article/volatility-index-vix-and-sp500-comparison-vis-vis-2008-market-top
But what percentage was due to investor buying,mane what was initiated by the Treasury’s PPT..
I have noticed increasing amounts of momentum following nowadays.
A lot of hedge fund managers seem, as Chris might say, to put their finger in the wind each morning then then pile in.
Have you ever asked the question “if I was the government and had $ 1 trillion, and wanted to make the people feel good, what would you do”?
I think I might just buy a chunk of Dow or S&P ETFs first thing in the morning, wait for the momentum to build up before I pull out my original stake, plus maybe some profit if the momentum is strong enough.
Market up, people feel good.
Put money in banks, drive down interest rates, mortgages get cheaper, people feel good.
The only problem is that bubbles develop.
What is real and what is mirage?
Certainly the mirage can be maintained much longer with a sympathetic press, but it does not stop it being a mirage.
I do not doubt we have bubbles in property and stocks, because by any historic, rational metric they are now excessively expensive.
(Property more so in some areas than others.)
Here’ s something that has not been discussed much.
During 2015 the bureaucracy in India made decrees in several regions that silver jewelry had to have a minimum concentration of silver of 70%.
(Previously in some areas it had been 50%)
I don’t know, but suspect this contributed to an increase of about 18% in silver consumption.
This increase is probably permanent, because silver concentrations are not going to be lowered.
Jewelry purchases are, of course, dependent on the overall economy.
Newmont Mining continues to divest non-core assets:
Newmont’s Mining’s sale of its stake in the Batu Hijau copper and gold mine in Indonesia is credit-positive for the company, Moody’s Investors Service said.
The sale eliminates substantive investment requirements, decreases political risk for Newmont and eliminates the need to renew its licence to export copper concentrate from Indonesia every six months, the ratings agency said in a report on Monday.
Newmont agreed late in June to sell its 48.5-percent stake in PT Newmont Nusa Tenggara (PTNNT) – the holding company for the Batu Hijau mine – for $920 million to Indonesian bank-backed company PT Amman Mineral Internasional (PT AMI). Contingent payments could reach $403 million, taking the deal to worth $1.3 billion.
Someone asked where my Italian bank ATM posting came from.
Here it is (now also called exaggerated)
It is interesting how much news is gathered from social media nowadays.
E.g. NY95fm newsroom channel.
https://www.superstation95.com/index.php/world/author/973-newsroom
Peter Grandich:
http://radio.goldseek.com/nuggets/grandich.07.11.16.mp3
Sprott Monthly Market Update: Two Yellow Metals: Gold Is Good; Uranium Is Great
BY RICK RULE & COLLIN KETTELLON JULY 10, 2016
This is a great talk from Rick Rule and worth the time – Gold/Silver/Platinum/Uranium.
Many great points, and the end section on the Uranium Market is critical for contrarians.
Good luck everyone with your investing.
Ex, have you been following NDM, apparently Sprott is.
Northern Dynasty has an interesting Copper/Gold/Moly project in Alaska, but they’ve had some set-backs the last few years. I haven’t stayed up to date with what is going on, but if the analysts at Sprott are taking more of an interest, then, I’m willing to look at it again myself.
Thanks for the heads up DT.
Hi Shad :
Turns out NDK has acquired Mission Gold.
Sprott has taken a 5.4% stake in NDK.
I was hoping this was because of some development with the Pebble project but I doubt it.
Ever since Anglo pulled the plug,NDK has been dead money.
Rio Tinto also owns a 16% stake in NDK.
I’m afraid environmental concerns will keep Pebble idle for some time to come.
The exploration by former Mission Gold,now NDK is the play.
Thanks JohnK,
I was wondering what was up, and thought I remembered the Pebble project getting stalled out for a quite some time. I had not heard about the Mission Gold acquisition and will go do some homework into how that project may develop.
Much appreciated.
Well I just looked at the Northern Dynasty Corporate Presentation from June, and they don’t mention the Mission Gold takeover, but they have a number of slides regarding the legal proceedings, the EPA and BBA flawed conclusions, Water issues being better than forecast, and the main roadblock was environmental concerns about the fisheries, which they address in detail.
Maybe the play is that they’ll be evaluating the Pebble project with these new scientific findings on the water sourcing, impact on downstream wildlife, and for exposing the biases of the EPA and BBA. (?)
They still have a very large resource defined, so maybe Sprott feels they will turn the corner on this and get development going again. Seems like an optionality play….
http://www.northerndynastyminerals.com/i/pdf/ndm/NDM_DA_Corp_Jun2016.pdf
Here was an article from January where Northern Dynasty criticizes the EPA decision:
_________________________________________________________________________
Pebble: EPA Inspector General’s report whitewashes serious bias at agency
January 13, 2016, Vancouver, BC
http://www.northerndynastyminerals.com/ndm/NewsReleases.asp?ReportID=736679
In June they raised capital to pursue the EPA and the wildlife & water concerns.
________________________________________________________________________
Northern Dynasty Closes $17.1 Million Offerings
June 10, 2016, Vancouver, BC
“The net proceeds of the Offering will be used to fund the Company’s multi-dimensional strategy to address the United States Environment Protection Agency’s proposed pre-emptive regulatory action under the United States Clean Water Act and to prepare the Pebble Project to initiate federal and state permitting under the United States National Environmental Policy Act, costs to keep the Pebble project in good standing, costs to advance a potential partner(s) transaction and for working capital and general corporate purposes…”
http://www.northerndynastyminerals.com/ndm/NewsReleases.asp?ReportID=751944
Here’s the link Shad:
http://www.northerndynastyminerals.com/ndm/NewsReleases.asp?ReportID=735223
Thanks JohnK – I didn’t go back to 2015 to check because I got the impression it was a very recent event. 🙂
It still seems most of the focus in news releases, the website, and their corporate presentation is focused on resolving the water/wildlife issues at Pebble.
Fwiw:
* Sandstorm Gold Ltd: CIBC raises to sector outperformer; raises target price to C$7.5
* TD Securities raises to buy; raises price target to C$8.50
* MAG Silver Corp : Raymond James resumes coverage with outperform; target price C$22.5
(I do not own either MAG or SSL)
Sandstorm is a fantastic company, and I have huge respect for Nolan Watson.
MAG Silver will likely get taken out, but much of that is already priced in, so it is a bit too pricey for me…… compared to the smaller silver producers that have multiple-fold increases in front of them. MAG is a solid company though for sure.
I noticed SAND was up big today. Thanks for telling me why.
Sandstorm has been rather conservative and lost some of its potential financings to SLW (even with gold companies)
Oops, that was supposed to be SAND:SLW Weekly.
That is just business and competition, but there is no denying the quality of some of the streams and royalties that Sandstorm has been able to pick up as part of their portfolio:
Year To Date – TOP 10 SILVER MINING STOCKS:
Canasil – up 977.78 % !!!!!!!!!
Silvercrest Metals – up 768.75 % !!!!!!!
Impact Silver – up 750 % !!!!!!!
Southern Silver – up 680 % !!!!!!
Defiance Silver – up 658 % !!!!!!
Silvercorp – up 536.17 % !!!!!
Bear Creek Mining – up 510.45 % !!!!!
Orex Minerals – up 500 % !!!!!
Silver Range Resources – up 485.71 % !!!!
Alexco – up 470.59 % !!!!
Year To Date BAR CHART – the Next 10 SILVER MINING STOCKS (11-20):
AZ Mining – up 441.54 % !!!!
Silver Bull – up 425 % !!!!
Santacruz Silver – up 416.67 % !!!!
Coeur D Arlene – up 415.32 % !!!!
Hochschild Mining – up 404.66 % !!!!
First Majestic – up 403.06 % !!!!
Minco – up 389 % !!!
Excellon Resources – up 343.04 % !!!
Dolly Varden Silver – Up 342.86 % !!!
American Silver Corp – up 325.68 % !!!
Year To Date BAR CHART – Next 10 SILVER MINING STOCKS (21-30):
Aurcana – up 312.94 % !!!
Aura Silver – up 300 % !!!
Fortuna – up 294.22 % !!
Golden Minerals – up 275 % !!
Endeavour Silver – up 252.11 % !!
Mines Management – up 249.87 % !!
Avino Silver & Gold – up 223.33 % !!
Hecla Mining – up 220.61 % !!
Mirasol Resources – up 212.50 % !!
Great Panther Silver – up 209.38 % !!
Year To Date BAR CHART – Next 10 SILVER MINING STOCKS (31-40):
Silver Standard – up 187.07 % !
Pan American Silver – up 186.93 % !
Levon Resources – up 171.43 % !
Kootenay Silver – up 152.63 % !
Fresnillo – up 150.72 % !
Nicola Mining – up 146.15% !
Silver Wheaton – up 113.57 % !
MAG Silver – up 111.19 % !
Bayhorse Silver – up 100 % !
Tahoe Resources – up 93.33 %
As an investor may note, as an overall theme, the Silver Jrs have out-performed many of the larger Silver companies that are household names. This shows the marketplace is finally starting to value exploration results, improvements in cost with the smaller producers, and the pent up value in development stage companies…..
What is also fascinating to note is that if you invested in Silver miners at the beginning of 2016, and held until this Monday, then your returns would have averaged between (977.78%-93.33%); with the vast majority of stocks up 150-500+% .
I wonder how many other asset classes had the entire sector up 100-500 % this year ??
I guess it pays to be a wingnut Silver investor these days……… 😉
I should have been more positive on silver…..
And maybe I should now think about re-balancing, since silver related shares are now over a third of my stock portfolio.
Or should I change my miniver to WSI……WingnutSilverInvestor.
I typed “moniker” …..my stupid iPad incorrected to miniver
Funny on the “WSI” [Wingnut Silver Investor] moniker.
For all the trash talking on Silver investors earlier this year from Brent Cook, Mickey Fulp, and even Peter Brandt….. It looks like Silver investors did just fine.
I still like the “Cash For Silver” (CFS) moniker though…..
OFF TOPIC:
While there are riots in the US, there are some also in Europe.
123 police injured in Berlin, as 3500 left-wing druggies and drop-outs riot.
And in Calais this Tuesday morning police and attempting illegal immigrants clash.
http://www.telegraph.co.uk/news/worldnews/europe/france/11179302/French-riot-police-in-battle-with-Calais-migrants-in-pictures.html?frame=3081145
Boy, I can’t find the words any longer. The world is
ready to break out into a catastrophic worldwide
destructive war and nothing phases The Western
citizens. The populous is certainly under a spell and
has no indication or clue what’s about to happen.
Obama is actively going to render our nuclear arsenal
useless and dismantling all our nuclear capabilities.
He is provoking world war and at the same time
dismantling our nuclear arsenal before he leaves
office.
Yes, just like he said, “The End Of The Republic Has
Never Looked Better”.
This world is really toast. Brain washed, under total
mind conditioning/control, ungodly, spiritually/
financially bankrupt nations and ignorant citizens
who will perish for their lack of spiritual knowledge.
Putin has warned The West, nuclear war is very likely
and China is with Russia. We have 4 major wars brewing
right now about to go hot. All nuclear armed nations.
Yet, the citizens of The West act like its no threat.
God have mercy ! The cries will not be heard when
its too late in the day of calamity.
I find it unfathomable and incomprehensible, people
actually believe all the atrocities and abominations will
continue without very much concern from the citizens.
One deplorable condemnation Western Nations do
without any concern or conscious is cutting up innocent
babies and selling the body parts. Citizens are silent. No
concern whatsoever. My, my isn’t this society on the right
path, only to annihilation. The list is so long now that
everyone should be fully aware of what this society has
become. Only to ignore every aspect of it. Its now the
norm.
Its not the norm. People will soon discover its all coming
to a very firey bitter terminal end. The horrible human pain
and suffering that is sure to come will be righteous and holy
judgments.People have lost all their dignity to idols, lust,
ungodly ways, lovers of pleasure with no regard for The
Creator and blinded by their own evil desires and lusts.
We are literally living in the final hours before the place is
turned from fire to ashes. Its all going to burn and those
who refuse to realize what society is doing is wrong, will
be destroyed with it.
Its so incomprehensible that some of the most intelligent
people and the wise are so deceived and foolish.
At one time I felt sympathetic towards this world who would
eventually go to judgment. No longer do I feel that way. I fully
welcome all the firey judgments that are coming soon became
the people refuse to turn from their evil ways.
All they enjoy is playing and rolling around in the mud. Judgment
arrives mostly everyone will be caught doing the same. After they
we’re warned.
Then they will cry out, woe is me, what did I do that was wrong.
This road is paved to total destruction and time is very short.
coming soon ( because) not became. Tablet auto fill error.
My little CBG is off to a good start this week – up 128% today…
My portfolio of more than a dozen miners is now up five-fold since its January low.
Hmmm!
And I used to own Globex at one time! Darn.
And it looks like 0.22 before it hits resistance.
Another one I missed, but then I don’t buy stocks under a dime very often…..lost money in the past too often that way!
Congrats, Matthew
Thanks, CFS. CEM is on the move, too. It was in the .05-.065 range the last time I praised it here a few months ago.
I own quite a few shares but have still only sold about 2% of them into recent strength. The sales were really just to “kill the urge.”
CONSTANTINE COMMENCES DRILL PROGRAM AT PALMER COPPER-ZINC-SILVER-GOLD PROJECT, SOUTHEAST ALASKA
US$3.7M is going into drilling this year and Dowa is picking up the tab.
http://www.constantinemetals.com/news/index.php?&content_id=240
I own some CNSNF, not much, but they keep on annoying me with the options they give out.
I meant to dig out their annual reports to see their salary burn rate, but have not got around to it.
Marketwired – June 30, 2016) – Constantine Metal Resources Ltd. (TSX VENTURE:CEM) (“Constantine” or the “Company”) announces the issuance of 2,450,000 stock options to purchase 2,450,000 shares of the Company at an exercise price of $0.10 cents per share, expiring June 30, 2021. The stock options are being issued to directors, officers and employees of the Company and are subject to approval by regulatory authorities.
That’s a lot of dilution!
That’s a relatively benign 2% dilution. It’s never popular but issuing warrants as compensation is standard procedure for explorers with no cash flow.
Imagine the dilution if they had to fund the US$3.7M drill program themselves. It would probably amount to well over 50% of the float – not to mention the US$16.2M that Dowa has already spent.
Constantine was several times recommended by Haywood:
14 Junior Miners on Haywood Securities’ Watch List for Q3 2015
by – Resource Investing News
[1] On Tuesday, Haywood Securities released its Junior Exploration Report for the third quarter of 2015, including its revised watch list of companies in the resource sector. The firm states that overall, junior miners “again felt the brunt of a highly volatile mining sector” during Q3. That volatility was partially reflected in the decrease in financings during the quarter — according to Haywood Securities, they “tapered off after a standout performance in February,” when over $1.5 billion was raised. That said, Q2 did bring a number of mergers and acquisitions in the mining sector. Those include the completion of the merger between AuRico Gold [2] and Alamos Gold (TSX:AGI [3],NYSE:AGI) and the announcement of the merger between Newmarket Gold (TSXV:NGN [4]) and Crocodile Gold (TSX:CRK [5]). The firm believes that this activity “replicat[es] an increasing trend that was discussed in [its] last report.” In turn, that indicates that “more companies consider current market conditions to have bottomed-out” — certainly a positive sign for those involved in the space. Beyond that, Haywood Securities notes that Q2 was dominated by headlines regarding the possibility of a Greek exit from the Eurozone. According to the firm, the mining sector has “felt the brunt of this uncertainty” — the S&P/TSX Global Mining index (INDEXTSI:TXGM [6]) fell 9 percent during the quarter, while the S&P/TSX Composite index (INDEXTSI:OSPTX [7]), along with the S&P/TSX Venture Composite index (INDEXTSI:JX [8]), sank 5 percent. Positive economic data out of the US also provided headwinds for the resource space. Nevertheless, six companies featured in Haywood Securities’ Q2 report [9] recorded positive performances during the period, with NexGen Energy [10] (TSXV:NXE [11]) being the standout stock with a 44-percent gain. Meanwhile, Constantine Metal Resources (TSXV:CEM [12]) jumped 27 percent, Vendetta Mining (TSXV:VTT [13]) rose 17 percent, Reservoir Minerals (TSXV:RMC [14]) increased by 14 percent and TerraX Minerals (TSXV:TXR [15]) moved up by 1 percent. Here’s a look at 14 companies that the firm will be watching during the third quarter of 2015 — Haywood Securities notes that they were chosen in part because they have “highly prospective projects run by reputable management teams.” Though there are a number of repeats from the previous quarter, there are also a few additions. Those include Marathon Gold (TSX:MOZ [16]) and Tinka Resources (TSXV:TK [17]); Plateau Uranium [18] (TSXV:PLU [19]) and Kennady Diamonds [20] (TSXV:KDI [21]) were not on the list during Q2, but have been featured in the past. Note: In addition to the above criteria, Haywood prepared this list in part based on whether it expects companies to deliver news during the next quarter. The list is updated regularly. Atlantic Gold (TSX:SVU [22]) Balmoral Resources (TSX:BAR [23]) Calibre Mining (TSXV:CXB [24]) Columbus Gold (TSXV:CGT [25]) Constantine Metal Resources Kennady Diamonds Marathon Gold NexGen Energy North American Nickel [26] (TSXV:NAN [27]) Orex Minerals (TSXV:REX [28]) Plateau Uranium Pure Gold Mining (TSXV:PGM [29])
John Tognetti owns over 13 million shares.
http://www.bloomberg.com/research/stocks/private/person.asp?personId=1431819&privcapId=1429259
“Mr. John Paul Tognetti serves as the Chairman and Investment Advisor of Haywood Securities Inc. Mr. Tognetti is credited with guiding Haywood’s growth from a regional retail investment dealer to a leading independent, full-service firm. With 33 years’ experience as an investment adviser and trader. He has a proven track record of providing his clients with successful timely investment ideas. He has been Director of Mirasol Resources Ltd since February 2015.”
Coal has actually been a big surprise for me this year,
ASX.WHC is only a fraction under a triple for me so far now from my average in price.
Meanwhile Uranium has been a little disappointing for me,
Whilst some on here have told of uranium success stories regarding their stock prices…..my Aussie listed uranium stocks have been mostly flat footed all this year, just going nowhere !!
Cheers.
The action in Uranium miners has been in the Athabasca Basin due to the high grade discoveries this year with companies like Nexgen, Fission, Canalaska, UEX Corp, and Denison. Nexgen has been the standout most amazing discovery in Canada in a long time with truly off the chart results, in a short time frame, right out of the gate. It has become the most prized takeover candidate in the Athabasca, and somebody is going to buy them out for a pretty penny.
I predict the US Uranium companies (Energy Fuels, Uranium Energy Corp, Uranium Resources, Ur-Energy, Peninsula Energy, and Western Uranium) will play catch up once the spot prices finally get going and the new longer term contracts are negotiated. The USA is still the biggest Uranium market on the planet, and producers and developers in the US will have the jurisdiction advantage when energy companies set up off-take agreements. The Canadian, Australian, and African companies have the currency advantage though.
As for the Aussie uranium companies there are a handful I watch (like Bannerman, A-cap, and Boss Resources since you have mentioned them), but Toro Energy is the main one I follow down under. I don’t much care for Energy Resources of Australia.
The US companies are so volatile that I’ve just continued to swing trade partial positions buying on the dips and selling on the rips to establish a good core position in each of them. I
*** Please check out the end of the Rick Rule interview I posted up above from Palisade Radio, where he unpacks how the Uranium miners will offer the largest returns in the resource sector when things get going 10-20 fold increases will not be uncommon.
Impact Silver hit $1.09 today – one cent shy of a ten-bagger since January. 229,000 shares have traded so far at a VWAP of 1.05 despite the pullback in silver today. This is great action and IPT is not the only one enjoying it.
I traded completely out of my uranium juniors a few weeks ago after making quick gains but have now started to buy them back for more meaningful gains. I’ve been pretty aggressive for the last two weeks since I think they will move way sooner than Rick Rule thinks.
Good thoughts. Yes Impact Silver has been on an absolute tear this year. Well done!
You still liking UEX Corp for the Uranium jrs? I do think Areva has a high likelihood of taking them out since they have some many JVs together.
Yes, I like UEX a lot. It looks like an easy triple from here just for starters and is up 9% today.
Btw, I meant to say that I traded completely out of my uranium juniors a few months ago, not weeks.
Thanks for the Rick Rule interview link Excelsior…..much appreciated.
Cheers.
Thanks Matthew & Skeeta.
Matthew – BTW I’m a shareholder in UEX Corp as well, and as mentioned, the endgame for me with their stock is a takeover by Areva that seems likely as they continue to move their exploration projects along.
BTW – There was this positive article on UEX Corp released on Monday regarding their exploration program. Fun times!
__________________________________________________________________________
Paul Bay Continuity Confirmed and Down-Dip Drilling Underway
July 11th, 2016
https://www.uex-corporation.com/news/paul-bay-continuity-confirmed-and-down-dip-drilling-underway
UEX definitely has a lot going for it. I like ALX Uranium Corp too…
EU Economy:
Interestingly, the European Bureaucrats are getting annoyed at Spain and Portugal’s failures to reduce government spending in line with EU dictats.
The rumor is that the EU aparachics will try to impose fines of up to 2% of GDPs of Spain and Portugal.
My comment…seems like a good way to break up the EU!
(Of course
, the bureaucrats believe Portugal and Spain, having been recipients of considerable EU largesse, would never think of leaving. Dream on.)
This might be of interest to Cory:
arrest 11 for alleged money laundering
AP – 36 mins ago
MADRID (AP) — Spanish police say they have arrested 11 people — mostly Russians and Ukrainians — in an operation targeting foreign organized crime gangs involved in money laundering.
Police said those arrested allegedly ran a network of companies through which they channeled money from Cyprus and the British Virgin Islands to buy real estate in Spain. The group had laundered about 10 million euros ($11 million).
Police said the arrests took place in the northeastern port city of Barcelona.
Police arrested eight people, mostly Russians, on June 28 and seized property worth around 62 million euros in a similar operation.
I’m not sure how this will post, but I’m considering a trip to Barcelona, Valencia, and then Palma (on the Island of Mallorca).
If this doesn’t look right, then just zoom in on that area of the map….
Enjoy your trip.
One word of caution, in September or October, depending on the mistral, the Costa Brava to the north of Barca can get significant rain. (That also goes for the south of France)
Maybe I’ll wait until Spring/Summer then. Although, I typically don’t mind the rain (but if it is significant rain, then I’ll punt until a better time).
According to London prices, since 00.00 GMT
AG, PT AND PD now all positive today, only gold being hit.
Smell of manipulation to me!
(Sorry, Robert)
And the fallacy in the analysis is failure to consider in the inventory of physical silver. IMHO.
Sep E-mini S&Ps (ESU16 +0.46%) are up +0.52% at a fresh record high and European stocks are up +1.79% at a 2-week high. U.S. stocks received a boost from Alcoa which is up over 4% in pre-market trading after it started off Q2 earnings reporting season by reporting higher than expected Q2 earnings. European stocks found support with a rally in automakers, led by an over 4% jump in Daimler AG after it reported a 5.6% increase in adjusted earnings. Also, Home Secretary May is prepared to take over as the UK’s next prime minister, which removes some political uncertainty in Britain. Asian stocks settled higher: Japan +2.49%, Hong Kong +1.65%, China +1.82%, Taiwan +0.63%, Australia +0.30%, Singapore +0.89%, South Korea +0.06%, India +0.66%. China’s Shanghai Composite climbed to a 2-1/2 month high on the heels of the rally in the S&P 500 to a record high. Also, China International Capital Corp and CIMB Securities Ltd. said that China’s pension funds, which have about 2 trillion yuan ($299 billion) available for investment, may start to deploy some of their holdings in securities including equities in the second half of this year. Japan’s Nikkei Stock Index rallied to a 2-week high as the yen fell to a 2-week low against the dollar, which boosted exporter stocks.
Theresa May is very similar to Frau Merkel, neither are ideologs, ( both a little bit left of their political party centers), both are total pragmatists. (Could that be because they had religious ministers as a parent?)
So Mrs May is not as right-wing as the Iron Lady, but she chooses her position carefully and then tends to have a steel spine.
Mrs May, I have little doubt, will act in the best interest of the U.K., unlike either The majority of leading Republicans or Democrats in the US.
As I said 2 days ago, a big rally is coming for oil as everyone is on the wrong side. It should go up to 5% today.
PsulL, why?
I would suggest you are not using any logic.
E.g. Dollar index decline
E.g. Supply decline
E.g. Demand increase….
None of these support your comment!
It is short covering. The drop was overdone. USO is now up 4.65%. Just technicals. The market is never logical. I have had a target of just under 55 and 60 later in the year. Supply is coming down slowly. Cap. expenditures are down sharply and there will be shortages coming in about 2 years possibly.
I totally agree with your 2 year assessment, as does the oil futures market.
The price differential between the COMEX and the SGE for gold and silver may be found at:
You’re a real deep thnkier. Thanks for sharing.
Over the weekend Nigel Farage suggested bypassing Merkel, Juncker and all the EU politicians and for the UK to go and deal directly with the German industrial leaders and the French agricultural leaders.
Then, simply, let them put pressure on Merkel, Hollande, etc.
It makes sense.