Thursday Market Wrap and Opinion
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The U.S. Ten Year is Definitely going in an interesting direction as are the equity indexes in light of today’s disappointing indicators.
Someone Dumped 70 Tons Of Paper Gold At 8:30 a.m.
At 8:30 a.m. this morning, 10 minutes after the Comex gold pit opens, over 70 tons of gold was dropped into the entire Comex trading system. If this happened on the NYSE, one of the ECN’s (usually BATS) would have mysteriously “broke” and trading would have been halted – before the damaging effects of the systemic paper overload hit the market.
http://investmentresearchdynamics.com/someone-dumped-70-tons-of-paper-gold-at-830-a-m/
Been going on for 5 years
China on holiday today?
Corey,
might the up move in the markets today hint at major stimulus plans coming to the West?? Did you watch the exchange in Ottawa’s parliamentary press gallery between Christine Legarde’s and Trusty-Justy in Ottawa 2 days ago? This is all you need to know. Canada is the anti-austerity poster-child that the IMF is encouraging of there Western nations to emulate. Canada has long been a lab for trying out various monetary “experiments” that the IMF/World Bank float. Please watch:
http://www.cbc.ca/news/politics/lagarde-trudeau-imf-ceta-1.3760571
Deutsche Bank slapped with $14 billion Fine over mortgage fraud.
The Market is 70% overvalued.
Central BanK’s “Illusion Of Control”; Spitznagel Warns If the Fed hikes,Markets will go down very hard”.
Japanese Bankers Threaten Mutiny Over Basel Committee Capital Rule.
Parden Snowden..
You tube…censoring journalists who criticize government.
XZerohedge.
What a world…..
And who says gold is over priced….. 🙂
Yep. Agreed.
Ex and MAtt,
I’m thinking of buying a meaty position in K92 Mining soonish. I love their storey and the cheap assets they bought when Barrick puked them up during the big bear. Any thoughts? That chart is a beast.
4+ years in…still holding my NOVO….thankyou Mr Moriarty!!!
Hey confused. Hope all is well. I’ll take a look at the K92 chart next.
I haven’t followed it other than to know it was a spin-out from Barrick, and some have postulated that Barrick is going to be sorry that they gave it up. Those same investors have very high expectations for K92, and I’ve heard mostly positive reviews. It is on my Development watch-list, and I read some of the cross chatter on it, but don’t know much substantive about it honestly.
______________________________________________________________________
I did see this transaction a few days back and it seems a nice show of confidence:
Closing date 2016-09-13
Date of transaction 2016-09-08
Issuer Name K92 Mining Inc.
Stock Symbol KNT
Insider Name Cartesian Royalty Holdings Pte. Ltd.
Insider’s Relationship to Issuer 3 – 10% Security Holder of Issuer
Nature of transaction – Conversion or exchange
Number or value acquired or disposed of +4,751,831
Balance of securities held as of transaction date 4,934,460
__________________________________________________________________________
You may enjoy scanning up these comments for other investors discussions on K92:
BTW – Agreed on Novo Resources. It’s got good coverage in the marketplace, a good project, and I really like that they can bulldoze the overburden, lower the strip ratio, and then use gravity recovery for the gold without the need for intense chemicals. Both of those will help the costs and permitting and accelerate the ramp up time to production.
Cheers!
Confused – after doing up a quick chart for K92 (KNT.V), I see the 144 EMA at $1.19 being a good place to see if there is support. I’m actually surprised it’s pulled back as much as it has, but it does look a like good place to start building a position.
http://stockcharts.com/h-sc/ui?s=KNT.V&p=D&yr=0&mn=4&dy=0&id=p91353721112
I’d also like to see KNT break above that 34 day EMA (currently at $1.54), because it has capped the upside on the last 2 mini-rallies.
There was a pretty big volume on the selling today on that bearish candle, so it will be important to see how tomorrow closes on the daily and the weekly.
It will be interesting to see if there is a further red candle that breaks the 144 EMA with the next stop at the 200 day, or if we get a minor red “Doji” candle where there is a tug-o-war between bears and bulls, and indecision where the open and close are near the same price point. If we see the latter then a reversal back up early next week would be in order for a short-duration trade.
Well the 144 day EMA didn’t hold up either with KNT down to $1.10, so next support at the 200 day EMA @ $1.08. K92 will still need to prove itself by breaking above the 34 day EMA to the upside when it does bounce and go back up to test that next time.
http://stockcharts.com/h-sc/ui?s=KNT.V&p=D&yr=0&mn=4&dy=0&id=p61913201265
NOT ENOUGH FOR GOODENOUGH
The man who brought us the lithium-ion battery at the age of 57 has an idea for a new one at 92
and then there is this new battery technology:
Tanktwo Electric Car batteries give drivers a full charge in under three minutes, yet cost less than standard battery packs.
#ChristmasList
Komatsu introduces the 980E-4 mining haul truck
about 13 hours ago
http://www.mining.com/web/komatsu-introduces-the-980e-4-mining-haul-truck/
It would be nice to have one for some light hauling around the house…..
(WG) (WGPLF) Wellgreen Platinum Ltd. – Precious Metals Summit Beaver Creek 2016
Diane Garrett, President & CEO
I continue to remain and impressed shareholder in Wellgreen Platinum.
(GPHYF) Gryphon Minerals Limited – Precious Metals Summit Beaver Creek 2016
Steve Parsons, Managing Director
(TGZ) (TGCDF) Teranga Gold Corporation – Precious Metals Summit Beaver Creek 2016
Richard Young, President & CEO
Michael Oliver predicted the 30 year bond move. Amazing man!!
Greg Hunter interviews David Stockman 9/15
https://www.youtube.com/watch?v=oyG7dqpU22Q
The Fed must go…..
Great as usual
More pain for….”Fly over America”
I think DB.,just told The DOJ, forget it ,we are not pay the Fine….zh
Paying..not pay
Irish Tony has a new girlfriend, he is 35 years her senior, word out on the street is that she is a silverdigger!
What a Scurvy Dog!
EX, he has no shame.
Well he is part Leprechaun…..always chasing rainbows. What do you expect. 😉
Buy back SVCMF-Silvercrest @$2.196
I added some more Impact Silver and Americas Silver Corp and Avino Silver & Gold today. I considered adding more Brixton Metals too, but want to see what happens early next week.
Alexco and Great Panther are looking more attractive to start adding this pullback as well.
The loonie briefly took out the 200 day MA today for the first time in six months (and by one basis point).
http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=1&mn=1&dy=22&id=p80987831835&a=404784889
what a looney loonie.
EX, thanks!
The loonie is like gold; messing with traders heads before a big move up.
Good stuff guys. I am really starting to appreciate how your confidence is up with the charting Cory. We seem to often agree as well. Just for fun, take a look at the Corn chart on a daily…..see how it is curling back up as it approaches a bottom?
I happen to think it will terminate with a rounded formation given a little more time and the absolute lows will soon be in if we have not already seen then (heads up on the AG sector in other words).
Anyway, my point here actually relates to the broad averages.
On days like today when stocks are up the softs will often be red and vice versa, So….extrapolating just a little (if only generally), if softs are closing in on their final lows then they will be green more frequently and we should anticipate a down cycle in the equity markets as the offset.
The machine algo’s seem to slosh the money this way and that depending on what stock markets are doing. You have also probably noticed Natural Gas is the alternative go-to place on market down days.
These Finviz charts are especially useful in that regard because they highlight the major market components by color each day. I honestly cannot get through a day without using these.
Corn Contracts Daily Chart….Corn is in the process of filling out its final lows — FINVIZ.com
http://finviz.com/futures_charts.ashx?t=ZC&p=d1