Is seasonality to blame for the market moves we are experiencing
Rick Ackerman kicks us off today with a discussion focusing on seasonality. Now that we are in the final month of the year a couple seasonality factors such as tax loss selling and a Santa Clause rally are in play. We also get Rick to update us on silver and what his technical outlook is saying about future price.
As mentioned Rick is holding a free webinar next Tuesday, December 6th at 9am PST. Click here to sign up.
Click download link to listen on this device: Download Show
It does feel like Santa Claus did bring me a gift today though ๐
I trimmed off a tiny bit of the winnings and threw it at Novo Resources today. I’ve been watching Novo Resources for a long time, reading all the news for a year or two, watching their recent corporate presentations from mining shows in 2016, been impressed with their recent drill results, the fact that they can easily remove the overburden and get to the good rock easily and use gravity separation for gold recovery versus the messier chemical leaching methods……
……. also, the coverage here on the KER, from Jay Taylor, and from Bob Moriarty was effective as well. Also, Bonzo Barzini’s posts from 2015 and 2016 kept making me look.
I’ll be adding to Novo Resources in a bigger way over the next few months and appreciate all the different contributors that offered up thoughts on the company. It’s accumulation time going into Dec and the first quarter of 2017.
Cheers!
Novo Resources Corp. (NVO) – Dr. Quinton Hennigh
MIF Nov. 2016:
Excelsior, Welcome aboard Novo! Let’s hope Quinton finds another Kloof or Driefontaine in NW Australia.
Bonzo Barzini – Thanks for keeping it on my top of mind awareness all this time!
If one has been stalking a stock for a while, and the share price dips to the point where you think “wow”, then one has to get started somewhere…… so I took the first baby step today.
Ever Upward!
CA MT
METTRUM HEALTH CORP
$7.51 +$1.59
+26.86%
getting “high-er”
Got bought out by canopy
I guess canapy is the biggest in Canada.
I was saying a few weeks ago that there was not enough production to meet demand.
And, it takes quite a while to start a company due to licensing etc.
Well, thats exactly what was on the cbc news today.
Ya heard it here first. lol
Anyway, I wonder if that news will cause some investors to go hhmmmmm?
Here is the canopy growth room at CEO. You can follow the blue links to other companies by clicking on their blue $ tickers or red # subjects.
They’ve been discussing this Mettrum Health merger with Canopy Growth in there.
Aphria comes up quite often in discussion and it was on those BNN videos I posted a week or two back as another player.
Here’s a link to the Aphria room for herbal chatter:
Yes canopy was already the biggest.mettrum was 2nd…..Aphria is now the only other one worth owning other than canopy
One more for good measure.
http://www.bnn.ca/commodities/video/organigram-ramping-up-expansion-plans-ahead-of-rec-market~1007424
Gold 1105? sounded to me like people were doubting 1140.
We will see, we will know more should we get there.
How on earth would anyone know if it was “the” low?
We have (I forget) a 70 year supply above ground now, and the Russians just figured out how to get gold from coal, as much as they want.
With the world moving away from coal it looks to get pretty cheap.
So,….. cheap enough to make as much gold as is desired.
How the heck could it go to 10s of thousands per once?
How on earth can anyone know “the” low?
The loonie was capped precisely at the 50 day MA this morning but it is going to go higher very soon.
http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&b=5&g=0&id=p81959706146&a=487491837
Slightly bigger picture:
http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=0&mn=9&dy=0&id=p45534595938&a=490862584
Update: the loonie has already moved above the 50 day MA.
Silver still refuses to take out its low of a couple weeks ago as gold continues lower…
http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=11&dy=0&id=p63394110356&a=451786106
Matthew check out the weekly $gold:$silver action from late 2012. It is *eerily* similar to what is playing out right now. I mean inflection points and everything. There is even MA resistance just above. It is uncanny.
Yes, the shape of the action is very similar. Here’s SLV:
http://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=5&mn=3&dy=22&id=p78463608514&a=451786106
But there’s plenty that is not similar. We are at a much different place cyclically and the indicators paint a different picture today.
The following is a GDX chart but the differences apply to gold and silver as well.
http://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=6&mn=0&dy=0&id=p34898709493&a=487177468
This is one hell of a shakeout and right now the urge to draw bearish parallels to late 2012 is overwhelming. The one big difference is obviously the bullishly aligning weekly MAs today. If the $hui drops below the 100 WMA there is going to be at least one week of sheet panic though.
There are shakeout, and then there are shakeouts. If you are correct, I will consider you one of the best analysts around. No joke.
I believe that this bull is going to be so huge that even I will be shocked. So it makes sense to me that the big money would want keep retail money as skeptical as they can until as late in the bull as possible. This is probably also why the last few years have been so brutal.
I don’t doubt this new bull in the least but that doesn’t mean I can tell you exactly when and where gold will finally turn up.
Today just might be the day:
http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=1&dy=0&id=p46861167248&a=488007559
Spanky/Matthew:
Bulls hate riders and do everything in their power to shake them off. It’s brave to be contrary but it’s also the surest way to make money. It is always darkest before the dawn.
Matthew: You are totally correct, it will be a barnburner for the books.
Happy B-Day Big Al and thanks so much for all you do for us and for free to boot! They say good advice cost nothing and it is worth the price, but I think your show gives us advice that is worth much more.
I know history doesn’t repeat, but the setups in $gold, yen ($xjy), the stock market ($spx) commodities (gcc) and bond yields ($tnx) look identical to late 2012-2013. I mean it is downright eery. You even had the very convincing suckers rally in late 2012 in $gold that set the table for the waterfall decline into 2013. It is just too crazy the similarities. Wow.
I mentioned BIG Owl ‘s BD yesterday…..so BD on your Bday….Irish blows you a kiss over the pond…. ;)……Have a great one…..
Ditto.
Repost:
Happy B-Day Big Owl Korelin!
http://image.blingee.com/images19/content/output/000/000/000/7a9/764278126_852554.gif
Irish said that was . ..Owl in Lost Vegas
This was more of the look that the Big Owl had in Vegas:
Big Al – You may want to take an extra shower if IrishT is blowing you kisses from across the pond.
$14 silver…..way to cheap …miners will be on sale on Valentine’s day
Nothing says “I Love You” on Valentines Day like buying her shares in a Silver Mining stock ! ๐
๐ ๐
Best thing about next Valentine’s day….Obamy will be gone….. ๐
I bought back my miners today for a little cheaper than I sold them yesterday. What the hell it’s just money.
AG is catching a bid.
Nice, cheaper is good!
Nice spanky. It is always fun to sell a stock and then buy it back at a lower cost basis if you believe in the story for the longer term.
Would really like to see $gold recapture the 100 WMA and hold it. That is a critical first step. A weekly swing low would help too.
Agreed on both accounts. Now let’s see what the market serves up.
๐To Big Al, a gentleman and a scholar๐
Wishing you the HAPPIEST OF BIRTHDAYS!!!๐๐and continued health and happiness going forward! The world’s a better place for having Al Korelin in it!
Go celebrate your “37”th in style!๐๐น๐
Cheers!
DC (37-6)๐
73 is the best number, no doubt about it…
Mr. Show – 24 is the Highest Number
Big Al,
Did you know that you and Lee Trevino both turn 77 today? Congrats!
Rumor is on ST that GS is holding the Dow up.
$silver put in a rare black candle on the daily chart today. I am not a fan of black candles at all. It to me generally represents smart money selling into strength. It’s not a 100% bad omen, obviously, but it is rare in $gold and $silver and they generally do not portend good action.
Let see what happens.
There is a legit head and shoulders top on QQQ ready to be activated…. or not.
There is also a gigantic ascending wedge on QQQ weekly chart too. Bearish if bottom rail broken.
Happy birthday Al.
(AXY) (MGMXF) Alterra Power up nicely today on this news (not seasonality)
Alterra Power Announces Favorable Arbitration Results for Icelandic Subsidiary 12/01/2016
#RenewableEnergy #Geothermal #Solar #Wind #RossBeaty
http://www.alterrapower.ca/news/Press-Release/News-Releases/News-Releases-Details/2016/Alterra-Power-Announces-Favorable-Arbitration-Results-for-Icelandic-Subsidiary/default.aspx.
Alterra Power Corp. (AXY.TO)
$5.86 up +$0.92 (+18.62% gain)
Alterra Power Corp (MGMXF)
$4.4092 Up +$0.7092 (19.17% gain)