Our impression of the moves today in gold, the USD and US markets
On today’s market wrap we focus on the moves today in gold the US dollar and the US markets. Gold was running through the first half of the day but turned slightly before the close. The same was the case for the dollar in the inverse. Tomorrow will be crucial to see if gold and continue its move up and take out the most recent high.
Click download link to listen on this device: Download Show
Del Toro Silver Corp.
6 hours ago
GlobeNewswire
CARSON CITY, Nev., Sept. 22, 2016 (GLOBE NEWSWIRE) —
Del Toro Silver Corp. (DTOR) (“Del Toro” or the “Company”) is pleased to announce that on September 14, 2016 it renewed the November 14, 2011 asset sale agreement with Bowerman Holdings LLC to acquire up to 75% of the historic Discovery Day gold property in Siskiyou County, California. As compensation for the renewal, the Company paid one million restricted shares of common stock to Trinity Alps Resources, Inc., the parent company of Bowerman Holdings LLC. The agreement extends the closing of the transaction until March 17, 2017 and provides for as many as three additional 90 day extension periods.
Thanks CFS. Very interesting.
Make new friends, but keep the old, one is Silver and the other’s Gold…..
They may need to rebrand as Del Toro Gold…….
CFS, would you happen to know why MSHA suspended del toro operations, at discovery day?
What the world needs more than for gold to reach its true value is for the world to actually practice the golden rule. Events in this country and the world at large demonstrate this need.
Lemetropole Cafe snippet…Ring the bell, +1.00%…. circled number again, mostly
Another day, another 1% cap job- mostly. In the past 17 years the cartel has hit my circled numbers so many times that it has filled an entire legal pad of pages. That’s using 5-6 circled numbers per page BTW. I guess clairvoyance is no longer considered anything special. Either that, or MSM, TA guys, and the ostrich parade refuse to ignore the biggest elephant in the room when considering a manipulated market. The initial high tick of $1344.70, which was the exact number circled the previous night, was achieved at 11:23 AM. Blatant capping was obvious all morning as the cartel once more went to their rope-a-dope routine. While later exceeding 1% by about 2 bucks it was clear the Maginot magnet resided at the circled number. Judging by the usual cartel short ammo required to quell uprisings I’ll predict another 10 – 15K of O.I. increase as a result when the tally is revealed. While this Peter Hug headline No Good End In Sight was referring to Fed goings on it was totally appropriate for the endless capping of gold. Maybe Kitco is now at least subliminally acknowledging gold manipulation?
The HUI and silver signals appear to be saying tomorrow will be a no follow-through day. Breaking that cartel rule, on a Friday, would be peachy keen. While nobody in MSM can breathe a word there appears to be big concerns behind the scenes over the economic slowdown. Economic stall speed is a frightening thought riding onboard the Hillary for WH jet. Housing, automobiles, and sundry retail data all indicate the preponderance of people tapping out. Seeing how this was at least the 31st Fed meeting in the last 8 years featuring the threat, but ultimately no go on rate hikes we can assume it is as bad as we suspect. See you back here in 3 months, Janet.
Gold is poised to launch. It can’t get any more obvious. Silver is on the cusp of hyper-volatility as well. We know by heart the numbers needing to be cracked. The seasonals and fundamentals are on board. The technicals could be if they were allowed to. When it happens the cartel rules will certainly wobble and fail. As of right now it is a very torturous waiting game. Promising, yet infuriating. Welcome to the 2016 version of Groundhog Day.
James Mc
Article is dated but well worth the read – The MOAMOPE by James C. McShirley
http://www.zerohedge.com/news/2014-08-25/moamope-james-c-mcshirley
I think it may be time for oil to correct again and the general market. OIl has moved up 8% from the bottom so quickly. USO from 9.82 to 10.61. The oil stocks were weakening today and could not hold anywhere close to the open.
They could not raise rates in September as it is crash season so they will raise for sure later this year.
Cory, how about Colorado Resources? What are your technicals telling you and how does it jive with the comments made on Aug 26th?
http://incakolanews.blogspot.com/2016/09/another-canadian-pump-and-dump-unwinds.html
Matt+Ex any comment on Colorado? This was one of Brent Cooks favourites.
I don’t follow it but the chart is not like most “pump and dumps” I’ve seen.
I have to go with Brent Cook on this one as there are a number of perfectly legit reasons why a small speculative company can plunge like that without anything nefarious going on.
http://stockcharts.com/h-sc/ui?s=CXO.V&p=D&yr=1&mn=0&dy=13&id=p87070411465
Matthew,
According to what I’ve read from 2 different sources, I am not sure Brent Cook still likes CXO any longer.
My 2cts.
LPG
If that’s the case (and if I were a shareholder), I would want to know if Brent’s change of heart is do drill results/project issues or a loss of faith in management. In other words, does HE agree with Otto’s pump and dump claim or is it just a legit spec that isn’t working out?
Many dumps are not the result of shady pumps. I think the retail crowd tends to forget just how dangerous these things are at all times.
Typo: “…is due to drill results…”
Yes, the drill results are in the press release that came out yesterday.
Check out Eric Coffin’s thoughts on drill results and the quality of management below. Eric is going to have them at his upcoming conference and knows the project quite intimately.
The sale today wasn’t just because of Otto by any stretch of the imagination, and was totally news driven, which affect the sentiment.
@HRA-Coffin “They have to figure out how to target the other areas on the project. I think they should have taken a shot at some of them while the drill was on site. They can probably build some sort of resource at Inel but it won’t be the monster traders were hoping for and, well, it’s the end of September. That’s a big part of the problem, and something you should all keep in mind when it comes to Golden Triangle deals. If they are going to put out results in one big whoosh they’d better be good. ”
I didn’t think for a minute that it was due to Otto. I was just wondering if there’s a shred of evidence that this thing was/is a pump and dump. Like I said above, the chart tells me the answer is no.
Remember, I do not follow CXO at all.
There are more comments below along with a post from Rob McLeod of IDM Mining.
Otto might -MIGHT- mean well, but he’s got a generous chip on both of his left shoulders.
Basically it’s the end of drilling season, and they didn’t get the results investors were hoping for. That is always the risk with exploration.
I agree with you regarding Otto. He is a bit jaded at times, and tends to dwell to much on the problems, but not the solutions and opportunities, but he at least says what’s on his mind. Does he always get right – nobody does…..
That’s what I thought. So Otto is full of shit with the pump and dump claim.
Don’t miss out on the funny investors reactions to Otto posted below. There is more chatter about this 30+% haircut in the CXO room. That link is also posted below and it quite entertaining….
for clarification, I have now posted additional comments, but the funniest ones dealt with the cookie monster (B.C.).
The other comments are what investor panic reads like. It’s a bummer as many were counting on Colorado Resources to find a juggernaut of a deposit, and the holes underwhelmed. It sounds like there are more holes that still will get assayed, but that Brent Cook is now out, and there are many other newsletter writers that likely told subscribers to bail today, but plenty of investors that new the press release was underwhelming. The rest is the wave over-reaction from investor sentiment loss and fear. A sad day for exploration companies in the Golden Triangle.
They still may be able to pull of a few good holes, but exploration is risky business.
Yes, Colorado is followed by Brent Cook, Eric Coffin, Alan Barry, Gwen Preston, and a number of geo-newsletter writters. They’ve been hitting some prospective targets up in the Golden Triangle region, and have a large number of superfans on CEO.
I guess they put out this press release yesterday and the excitement fell a little flat:
Colorado Continues to Return High Grade Gold from Inel Drilling at KSP District in the Golden Triangle, BC
September 21, 2016 – COLORADO RESOURCES LTD. (TSX-V: CXO)
Small Jr explorers like this are much more susceptible to an out-sized move due to news flow. (just like Orezone lately, or the pop Nicola Mining got from it’s copper grades).
I hoping for a discovery and newsflow over at Norther Shield in their ongoing drill program, because it is either going to flop or sail on the news. (fingers crossed)…..
The main index on CEO got a bit overwhelmed with investors reacting to Colorado Resources major hair cut today:
Colorado Resources Ltd (CLASF)
$0.208 down -$0.097 (-31.80% loss)
Here is the Colorado Resources (CXO) main Canadian ticker room on CEO so you can scan up through the comments and read traders losing their minds….. 🙁
@Bubbles “welcome back !! what do you make of $CXO results Eric ?”
from #index, about 7 hours ago
[this is Eric Coffin’s thoughts – they are very fair as always]
—> @HRA-Coffin “They have to figure out how to target the other areas on the project. I think they should have taken a shot at some of them while the drill was on site. They can probably build some sort of resource at Inel but it won’t be the monster traders were hoping for and, well, it’s the end of September. That’s a big part of the problem, and something you should all keep in mind when it comes to Golden Triangle deals. If they are going to put out results in one big whoosh they’d better be good. ”
$CXO 13 from #index, about 7 hours ago
—> @HRA-Coffin “Anyone who wants to get a “wrap up” on $CXO should come to the Subscriber Summit. Adam will be presenting and I assume the rest of the holes will be out by then. I expect they will have a better technical package on the project together by then.
http://www.eventbrite.ca/e/vancouver-subscriber-investment-summit-2016-tickets-24349874129?aff=HRA
from #index, about 6 hours ago
—-> @HRA-Coffin “Which is quite unfair to Adam Travis, who’s a good guy and a good geologist. I talked to him a little while ago. He’s a little shell shocked at the moment but still a big believer in the project. ” $CXO
from #index, about 6 hours ago
—-> @HRA-Coffin “The trick with most of these is to get in ahead of the story being widely known and try to set yourself up to have a very cheap (preferably free) ride on an exploration story. Most exploration projects do not work out. Mother Nature is a bitch. I’ll have some splaining to do on $CXO but also be pointing out to subscribers that I was pounding the table at 8 cents and telling them to be sure they sold enough to have a free ride before the drill results started to arrive.”
And finally a comment from Rob McLeod the CEO of IDM Mining:
@robmcleod “No shortage of additional targets at KSP for $CXO. It’s one of the largest hydrothermal systems in B.C….lots of great porphyry and skarn targets etc. Remember that Eskay Creek was just another anomaly until hole 109. Right next door…”
from #index, about 7 hours ago
@dirkdiggler $CXO ~ for the newbies. Not saying these results suck, far from it. But ideally you want to see actual numbers in the headline (ie) Co continues to hit……..with 100 meters of 500 g/t Au at the ABC zone. from #index, 21 Sep 2016,
@Highheat “@Nobshere Yeah drilling really helped $CXO” from #index, 21 Sep 2016,
@dirkdiggler $CXO: “I believe #Cook is still long the stock. Not the grand slams he was likely hoping for in this release…perhaps he’ll hang on for the next set of results. “from #index, 21 Sep 2016
@DanO “@robmcleod There is a lot of mineralization up there surface & u/g (drill intercepts). Plus the property is big. I did not have a close look at it lately but these drill results cannot be bad. I would like to see their geological model. Some updated cross sections. And yes I own some $cxo.” from ~roughingit, 21 Sep 2016,
@IronMan07 “these are good results, more to come” 21 Sep 2016
@green “not looking like the market happy with them. bid/ask37.5 cents?” 1 22 Sep 2016
anonymous down she goes CXO 0 22 Sep 2016, 08:26
@brian “$CXO did not make the grade. Have to wait till next year” from #index, 22 Sep 2016
@stateside “$CXO – was the “go to” stock of CEO.CA during the spring/summer bull run and supported by almost every newsletter writer known to mankind. That was a great run from $.08 to $.70. A ton of money made here. ” from #index, 22 Sep 2016,
anonymous “Stateside a ton lost as well then hey” 22 Sep 2016, 08:51
@racker “$cxo still ten holes left to report — no position” from #index, 22 Sep 2016
@dirkdiggler “Kid gloves with $CXO fellas – widely owned.” from #index, 22 Sep 2016
anonymous “the best is yet to come” 22 Sep 2016
@expresso “@racker starting from this price level 30s or below it needs a great discovery to really move the share price.” $CXO 0 from #index, 22 Sep 2016
@BruceWayne “$CXO yikes, no position right now but thinking of taking a small one on the selloff. I thought the results were meager, but not that bad… ” from #index, 22 Sep 2016
anonymous “$cxo is a two bagger at these levels” from #index, 22 Sep 2016
anonymous “Will be a 3-4 bagger soon though.” 22 Sep 2016, 09:35
@EvenPrime I will totally load up if this hits below 30 cents. These results were good. Nothing wrong with that. Just everyone was expecting a miracle I guess. There is still more results to come no? Thought I read 10 holes still?” 22 Sep 2016
@brian “$CXO results seem to be having an affect on all the golden triangle.” from #index, 22 Sep 2016
anonymous theres your 20s lol 0 22 Sep 2016, 10:02
@brian “$CXO made the 20’s, ouch” from #index, 22 Sep 2016
@StarFire “I sold my $CXO ages ago, not because I’m smart, but because I had to feed my $NRN addiction… If I learned anything, it’s better to be lucky than good” from #index, 22 Sep 2016
@barracuda “Glad I missed this $CXO massacre” from #index, 22 Sep 2016
anonymous “WTF happened to the stock price ?? ” 22 Sep 2016
@T “i personally think this is a great opportunity to pick up $cxo sub .30” from #index, 22 Sep 2016
@bullionaire “@barracuda I did very well on $CXO. nearly 4x’s for me. Not sure on what might be next on the golden triangle. Perhaps, there is still some private claims that may be vended into a public company?” from #index, 22 Sep 2016
@T “someone going to catch the falling knife on $cxo? 4.6M traded already today. last at .26 almost at the same price it was months ago pre drill results.” from #index, 22 Sep 2016
@dekosc “$CXO next support = .18 ” from #index, 22 Sep 2016
anonymous “Someone said here “Do not catch a falling knife” $CXO” from #index, 22 Sep 2016
@T “lol that went pretty quick @brian, those 300k+ just got eaten up $cxo, 500k traded in 3 minutes” from #index, 22 Sep 2016
@Newton “Pretty sure $cxo sub 30c is a good price for buyers.” from #index, 22 Sep 2016
@rjunior “$5million volume, 8:30am pacific time” 22 Sep 2016
@regan “Just got a small position filled of $cxo at sub .20 USD” from #index, 22 Sep 2016, 10:35
@Pete “@Rjunior, what would bring this back higher in the short term?” 22 Sep 2016,
wannabeinvestor “cookiemonster is out.” about 12 hours ago
@Newton “Wow @regan re sub 20c on $cxo. After I posted that 30c comment I wanted to say something how much space there is below 30c and how sub 10c would be great. Old @rocketred prices at 5c! Wild days on vse!”
Between Colorado Resources and Dunnedin Ventures, Otto is on a roll today !
http://incakolanews.blogspot.fr/2016/09/dunnedin-ventures-dviv-never-gets.html
LPG
The markets are full of cheer leaders. There are very few posters willing to stick their neck out and say what is wrong with a stock or a huckster promoter. He has been threatened with lawsuits more than once yet nothing has ever sticked because in the end they know he is right. I wish their were more people like Otto.
Sorry about all the grammar errors and typos. I am a little out of sorts since I just had a tooth pulled and my face is frozen. It seems to be affecting the signal to the keyboard.
I don’t agree w. everything he writes, but when it comes to mining stocks, Otto has, imho, extremely valuable insights/intel – on a rather consistent basis.
My 2cts.
LPG
I don’t agree with all of Otto’s thoughts either. He can get a little overly jaded or down on companies that have still done OK, but he sure speaks his mind and calls it like HE see it. He has brought to many investors minds potential challenges companies may face, but sometimes, it seems all he does is focus on the downside risks, and misses the upside potential.
Here was a funny reaction to Otto’s coverage of Colorado Resources today:
–> anonymous “Ironic to see Otto sh!t on $CXO if Brent Cook still likes it. Doesn’t he still have a man-crush on the Cookie?”
#index, about 6 hours ago
—> anonymous “otto might be in love with cookie monster but I don’t think cookie monster is loving $CXO that much.”
(the cookie monster is Brent Cook BTW)
Here’s a few more final comments worth reviewing on the Colorado Resources train wreck:
@DanO “$cxo tested a 500m by 600m zone only. The last nr features intercepts that are shallow i.e. open pittable therefore continuity cannot be a big issue as it would be in an underground setting. Many hi grade intercepts, and lower (but economic grades) over larger intervals e.g. 74m @ 1.02 g/t Au; 31.5m @ 1.46g/t Au; 41m @ 1.0 g/t Au. Previous holes hit 99m @ 2.11 g/t gold. At Inel they have three mineralized horizons. I will have a detailed look at their results in a few weeks i.e after completing some work but I cannot see any reason for panic selling. The properties are large and there are numerous mineralization centres. There is gold in those hills that’s for sure and a large property hosting all kinds of mineralization waiting to be drilled and linked/connected and assessed/estimated.
from ~roughingit, about 11 hours ago
anonymous “$CXO SCARY. Who is next ?” from #index, about 11 hours ago
@Allan I’m happy to not be a $CXO shareholder but clicking my heals for being a $SIR shareholder. ” from #index, about 11 hours ago
@DanO “@anonymous. Halloween scary!” about 11 hours ago
@dirkdiggler “The theory with $CXO, and it was quite plausible, was that as they drilled and gained a better understanding of the geological controls…..they’d be able to better vector in on the guts of the system. There’s still, what, 10 holes left?” from #index, about 11 hours ago
@Allan “dirk, what makes me nervous with $CXO is they seem to be narrowing the area between a couple structures that kind of minimizes the arm waving potential.” from #index,
wannabeinvestor “@newton, Cook sold and told his subscribers there was no scope for a large scale discovery here.”
Hey LPG. Thanks for that Dunnedin Ventures post from Otto. He and Alan have butted heads for a long time, so I can’t say that Otto’s editorial surprises me.
Here was Alan’s response for the other side of the story. Where the truth lies – unknonwn?
—> @Allan “Anonymous Otto must have had a slow news day. I thought he was the guy that didn’t like lying stock promoters. Here he is backing Chris Taylor and his board at $DVI when Chris was telling stock brokers and investors he found a diamond while out on the ground prospecting with me. I have a reputation in the diamond business and it matters a lot to me. Finding diamonds while prospecting on the surface is extremely rare. As the president, he shouldn’t be lying to folks to attract investors. I brought it up with the board and they chose to continue to support Chris. Chain of custody is a legal requirement for every stone, this stuff means a lot. If you wonder how accurate about this story, ask yourself why Chris Taylor and the board don’t take me to court. “
unknown (ironically the word “unknonwn” is unknown)
Bill Fleckenstein Slams CNBC “Jerk” – “Don’t Get In My Face Because I Won’t Join Your Party”
Having been invited on to CNBC to discuss his views of the market, famous short-seller Bill Fleckenstein explained rather eloquently that QE4 is coming and people will wake up to the fact that central bankers “are the arsonists that create the fire, not the firemen that put it out.” This non-mainstream view was treated with disdain by CNBC host Tim Seymour who slammed Fleckenstein for “missing out” on the “artificial market’s” (because even CNBC now admits that’s what it is) gains. The response was epic.
+1 sweet babay Jesus! I almost forgot why I don’t watch financial TV.
Bill nailed it across the board.
In the 1930’s most Americans didn’t know that FDR was crippled, the media didn’t talk about it for obvious reasons but this wasn’t an issue because his disability didn’t affect his cognitive functions. With Hillary we don’t know if she has had a concussion, this is much more serious than a physical disability. DT
And even worse about Hillary, she is a nasty, evil, murderous power mad crook—a cross between Lady Macbeth and nurse Ratched.
DT I left a couple of thoughts for you today on the Rick A blog towards the top about Wellgreen Platinum.
Any thoughts you may have that post would be appreciated if you get a moment.
Cheers!
Hi Ex, I am so glad that sanity has prevailed on this board, I find American politics so interesting that I haven’t had much time for stocks. I like Wellgreen a lot as you know and I will have a look at it later and get back to you. It would be interesting to hear what Rick has to say about it’s technical’s, I’m sure it will soon break out of it’s slumber soon. DT
And by the way Ex, thanks! DT
DT – Yes, sanity prevailing is becoming more uncommon in the world and it is refreshing it happened for the KER.
As for Wellgreen, I think now that Diane (Ex Romarco CEO that sold it to OceanaGold) is in charge, and she brought over a few other Ex-Romarco contacts, that they’re about to get things dialed in.
People that follow her know she’s good at the game, and gets results. I am very excited about this change-up on the team, the focus, and the visibility for Wellgreen. In addition, there has been a fair bit of focus again on the Yukon with it’s own conference and site tours earlier this year, and now Wellgreen is also getting highlighted at these investment conferences. It should put them on the map now.
On a side note, I am also intrigued that the old CEO of Wellgreen moved over to Monster Mining and just changed the name to Metallic Minerals Corp.
Musical chairs with the CEOs to take their respective projects forward.
DT, fwiw, I think WG is going to .60 for starters but the move might not be imminent. It looks like a little more sideways action is in order.
I do not own it.
http://stockcharts.com/h-sc/ui?s=WG.TO&p=D&yr=1&mn=3&dy=13&id=p44871955443
The short term now looks promising for platinum so that could limit WG’s sideways action.
http://stockcharts.com/h-sc/ui?s=%24PLAT&p=D&yr=1&mn=3&dy=13&id=p06773848371
Good charts Matthew.
Great news!
Gryphon Shareholders Vote Overwhelmingly in Favour of Teranga Gold’s Acquisition of Gryphon
TORONTO, ONTARIO and OUAGADOUGOU, BURKINA FASO–(Marketwired – Sept. 23, 2016)
Ivanhoe Mines and Zijin Mining Announce More High-Grade Copper Results from Ongoing Drilling at the Kakula Discovery on the Kamoa Copper Project in the Democratic Republic of Congo
KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO–(Marketwired – Sept. 22, 2016)
-Kakula’s Chalcocite-Rich Corridor Further Expanded to at Least 3.5 Kilometres in Length
-Initial Kakula Mineral Resource Estimate Expected in Early October
I think IVN could have ONE OF the highest PO prices,(of all the pm.copper,silver stocks etc)some years in the future.
Thanks,Excelsior.
Ivanhoe is definitely got 3 killer projects, although, I still worry a bit about the Congo jurisdiction & S. Africa jurisdictions sometimes. However I feel confident in Robert Friedland and team to navigate their company through that environment.
When you say highest PO prices, did you mean Price Optionality, or Purchase Order, or Precious Opportunity?
Sorry,i meant peak out price,reach the highest share price when it tops,
Yes,there are challenges and issues for sure,but i belive that they will do it.
“Peak Out” prices. Got it. (personally I hope that peak is years away 🙂 )
I meant that IVN could reach one of the highest share prices,of all the pm etc,stocks in the future(many years)
My language skills need some work,i know.
“Precious opportunity” lol,i like that.
Ha! Yeah I did too. I saw you post a LOTR message a week or so back, but when I wrote Precious Opportunity, I couldn’t shake this image:
The following excerpt was supposed to be included under the Gryphon News release up above, but better late than never…..eh?
“This is an exciting transaction and we are pleased that Gryphon’s shareholders voted significantly in favour of the Scheme,” stated Richard Young, President and Chief Executive Officer of Teranga.
“Together Gryphon and Teranga are stronger as one, creating a multi-jurisdictional mid-tier West African growth company. Following the close of the transaction, we will have a cash generative producing asset in Senegal, near term growth from the development of the Banfora project in Burkina Faso and highly prospective land positions in each of these countries as well as Cote d’Ivoire. The combined management team has extensive experience in all phases of mining from exploration through to project development and operations.”
I am very jazzed about the new combined company after the merger of Gryphon with Teranga Gold. Now they’ll be diversified over 3 countries, with an active mine, a mine in development, and several more properties to advance to mines in the pipeline. This stock will likely get re-rated once the merger is complete in October.
Parasite retail short volatility and huckster news letter bulls in full celebration mode. Central bank criminals got yo back, don’t you know.
Meh, some of us are liquid and patient enough to wait out the outright insanity. Still rolling over cheap OTM options for a violent deflationary crash that will wipe out the masses on credit living well beyond their means.
Bubble phase con men can piss right the hell off.
Off Topic:
A direct consequence of the lies of Hillary Clinton, and the poor leadership (at best) and more probable intended consequences of the executive, was the murder of Quaddafi of Libya, and the consequent spread of refugees throughout Europe and the US.
http://www.zerohedge.com/news/2016-09-22/british-parliament-confirms-libya-war-was-based-lies-…-turned-nation-“shit-show”-…-s
David Morgan talks about dollar drop.
Thanks CFS. It is always good to hear David’s thoughts.
Jim Rickards latest:
https://m.youtube.com/watch?v=ryuoR1IUIDg
MacroVoices is top notch. A must listen every week.
There was a great interview with Peter Boockvar today. Very interesting.
https://soundcloud.com/goldnewsletter/peter-boockvar-the-fed-has-overdosed-on-social-justice
Off Topic:
One mistake and it’s WWIII.
SR#1204 Campaign Clinton is Covering Up Her Parkinson’s Disease? Non-Existing Test
Published on Sep 22, 2016
I’m not convinced higher interest rates cause gold to go down. The last rate hike coincided with the bottom in gold…am I wrong? At least close to the time the Fed rate was raised. My memory is failing…
I’m with you Johnnygeneric. No one wanted to hear it one year ago and no one wants to hear it now but gold would probably do even better if/when rates rise. Sure, there would probably be a brief, knee-jerk drop, but unless it coincides with a cyclical top, I don’t think it would be a big one.
Rising rates will be bad for U.S. stocks and bonds and, therefore, the U.S. dollar.
Absolutely right. If people lose confidence in the Fed or in the markets, I think gold will go up no matter what the interest rates are. I can also see a scenario where gold and USD go up together. The people who look at a gold chart in isolation by only looking at gold in USD are often missing the big picture.
Ditto on “missing the big picture”
Article from Rick Ackerman
John Kaiser comments on Serengeti Resources drill
results.http://www.howestreet.com/2016/09/22/drill-results-ignored-by-the-markets/
Thanks Pete. I see Alan Barry, and other posters over at CEO talking up Serengeti Resources, and this will give me a bit of info to start reviewing. I’ve never stopped long enough to look into more closely. Much appreciated.
Thanks for posting Pete. We have John on this week’s weekend show discussing Serengeti and the recent drill results. Stay tuned!
Thank you,Cory.
Some say its too early to buy uranium stocks,but i have started to nibble on some uranium plays in 2016.
It probably is still early, but I’ve been swing trading the Uranium stocks since 2014 (so I was really early to the party 🙂 ) I’ve still made some coin trading them, but every time I’ve thought the worst is behind us, the floor keeps getting lower, and then I need to back into the stock and average down on the dip, and sell it back on the rip to continually lower the cost basis.
The selloff in UUUU due to the recent announcement of the capital raise was disappointing, and caught me off-guard, but I’m holding my nose and buying more.
Longer term I am not worried at all about the solid Uranium miners, but in the short term, I’ve probably over-allocated to the sector.
When the new off-take contracts get negotiated 2017, 2018 and beyond, this will cause the spot price to jolt up suddenly (not gradually rise like other commodities). Cameco and Areva already have made it clear they won’t negotiate longer term supply contracts to the utility companies at anywhere close to these prices. Most current producers like Cameco, Energy Fuels, or Ur-Energy have supply contracts in the Mid- $50’s at present, and it is likely that is where spot will need to be adjusted to once these negotiations get underway in the next 2 years. I want to have my positions in place before that, and then sit right and hold tight for the ride. There doesn’t appear to be any rush though….
With you on that one… keep thinking I’ve got too much of these companies, then they drop by 20-30% and I don’t want to take the loss. So I keep them, and buy more.
Hopefully it will pay off in a couple of years.
+1 Pete. I’ve watched reviewed that interview before, and have posted it in one of my Uranium rants a while back, when it was first released.
It is a good reminder to keep the main thing the main thing.
Tad – I truly believe when the Uranium bull finally wakes up from its slumber it will be epic.
Yes,its probably too early,but i remember how it felt at the end of 2014 and the end of 2015,when people where talking about gold breaking the 1000 level and going to 890-980.At the time i could feel the bottom with my toes,lol.
In Dec 2015 i was only 50% invested in pm/copper etc,because i thougt it would be the usual by the tax loss and sell in Q1,but for some reason i did not sell and kept buying more.
This time with uranium, i want to be all in on uranium when it takes off.
Could i time the bottom,probably not,but i will do my very best.
Thank you,Sir.
Buy the the tax loss,not by.
The moves today in gold and silver were muted at best.
After yesterday’s FOMC meeting and an admission by the FED they have no answers and the money printing will continue gold and silver should have blasted higher.
Should have been up $50 and $2 respectively.
However as usual they are not behaving the way you would want them to.
The $1340 level is incredibly hard to over take.
Stocks have a green light and will go, gold and silver need to get air in their tires.
It’s the same old meme
Who needs gold when we have stocks
Until stocks crash they will always be competing forces
One has a motor cycle, the other a bicycle