Targets for the Dow, Silver and USD
Rick Ackerman shares his technical outlook for three markets today. We start off with the Dow and a comment on the movement we are seeing today after a nice 300+ point move yesterday. Then a quick comment on silver. We wrap up the call with a higher outlook for the USD and what it means for domestic companies as well as international economies.
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Whatever happened to Alf Field?
Interesting list of Lemons, Pearls, and Ranters and Ravers.
It’s personal which speakers or pundits different people connect to, what calls they are tracking as their criteria (as some miss in one area but nail it in another), and then deliver. Its amazing the range of how some of these individuals conduct themselves publicly on the news, at investment shows,and then in more personable individual on-line interviews, etc…
They develop a cult of personality around themselves, but they still put their pants on one leg at time…
Those mentioned, and all the other “gurus” and pundits are curious and unique in their own way – like all people are. They all seem rather intelligent (or nobody would have listened to them in first place), it’s just some are off on wild tangents, or excessively conspiratorial, or got something right 10-15 years ago and are living off that still. Some I tune into strictly for entertainment purposes though, and definitely not for trading information. I respect the fact that they got out there and said their piece regardless, and found myself smiling after reading their names, so there’s the joy…..
Hope all is well.
deliver should have been = delivery
(ie their speaking or writing Style, Cadence, Tonality, Volume, Pace, etc…).
Some of them just crack me up, and I don’t really care if they get everything correct. Infotainment…
My favorite guru is Mr. Bond Market.
“Will You Overstay This Bull Market!” Is the process of deflation underway. Anyone who would have predicted the market moving like this even a month ago would have been viewed as nuts. Is what we are seeing mass Trump psychology. DT
I have a nice 16,000 gain in 3 weeks on AT&T and almost $2 per share on Intel in a few days. I have been buying oil all the way down to 49.70. Took about 9k in gains last week on oil. Using my secret hidden pivot method which is free to anyone.
+16,000
Is your hidden pivot method the same as Rick A’s or are there different nuances?
I was just joking. I just look at 1 year or longer charts to see where the support is strong and if I see a stock bouncing in a tight range over a few weeks refusing to go down further I make my buy. Don’t really know what a hidden pivot is. For short term I just buy the dips on XOP and sell the rallies.
Oh gotcha. (Ha! I fell for it).
Paul L. You seem to have very specific support and resistance levels that you follow in stocks and Oil so I didn’t know. Keep up the great work!
It can’t be Rick’s if it’s free to anyone. 😐
A seat of the pants method watching price action daily for support and resistance.
It sure seems to work well for you from what I’ve observed here for the last few years.
I had a nice brexit gain loading up in the premarket after the vote on BP and Shell. Gain of about 50,000 and as often occurs it turned into a 10k loss as I got greedy and then I got out on a bounce with around 6500 gain.
I’ve sure made the same mistake a time or two (or ten). At least you salvaged a gain, though. Many less experienced guys wouldn’t have seen the bounce coming.
Scorpio Gold Intersects High-Grade Gold including 9.64 g/t over 6.86 meters at the Bunkhouse Hill Area, Mineral Ridge Project, Nevada
Dec 8, 2016 – Scorpio Gold Corporation (SGN)
Highlights from 2016 RC drilling in the Bunkhouse Hill area include:
MR162080: 5.15 grams per tonne (“g/t”) gold over 5.98 meters true width
MR162081: 9.64 g/t gold over 6.86 meters
MR162088: 4.30 g/t gold over 5.61 meters
MR162096: 4.53 g/t gold over 4.27 meters
MR162100: 5.13 g/t gold over 6.72 meters
Don’t forget the Custer Deposit:
“Discovered in 2015, the Custer deposit lies along trend of and ~500 meters southeast of the Mary LC deposit. Structurally, Custer is very similar to the Drinkwater deposit, having far less of the post-mineral faulting and folding that was predominant in the Mary and Mary LC deposits. As a result, the mineralization at Custer is quite continuous and predictable. Definition drilling in 2016 followed up on a highly successful first-pass drilling program in 2015. A total of 81 holes have now outlined the Custer mineralized zone over a 150 x 200 meter area at depth (see May 3, 2016 news release). The deposit is under an internal economic evaluation including reserve and resource estimation and is potentially slated for open pit production in 2017, pending permitting.”
Of course, the market was in no mood to care one year ago…
Dec 17, 2015
Scorpio Gold Intersects 11.79 g/t Gold over 9.14 meters at the at the Custer Target
The Custer target is a previously undrilled area that lies along trend of and ~500 meters southeast of the Mary LC deposit.
Highlights from RC drilling on the Custer target include:
MR151705: 11.79 grams per tonne (“g/t”) gold over 9.14 meters
MR151706: 8.11 g/t gold over 7.62 meters
MR151707: 2.06 g/t gold over 3.05 meters
MR151710: 15.31 g/t gold over 4.57 meters
MR151821: 5.18 g/t gold over 3.05 meters
MR151827: 6.27 g/t gold over 4.57 meters
MR151842: 6.15 g/t gold over 6.10 meters
MR151863: 9.67 g/t gold over 12.19 meters
Yes, I’d love to see them open pit mine that next year. They can keep exploring as they go, especially for grade control, but I’d like see them earn while they learn on that deposit as it looks like a go.
Wow. Those really were great drill results. Thanks for reposting them to consider again. 🙂
Yep, they need to get that deposit moving and 2017 seems like a good year to kick it in.
Uh oh – it’s playing peak-a-boo over the trend-line. Nice!
It’s a like a worm sticking it’s head above ground after a long rain, and seeing no robin.
I can’t wait to see what Goldwedge holds, specifically, the Keystone-Jumbo Project Area.
Exciting news for sure. USA had a news release yesterday about their San Rafael mine. The Hawley teams are active. No new news on DEF yet.
http://www.americassilvercorp.com/s/NewsReleases.asp?ReportID=772748
I bought what I could of USA today at .24 and .245 and my position is finally larger than it was in January (6.333 times what it was two or three weeks ago).
There’s speed line resistance at .26…
http://stockcharts.com/h-sc/ui?s=USA.TO&p=W&yr=6&mn=5&dy=0&id=p72150187254&a=489485290
Good stuff! Dan – Peter is now just a director of both companies and still involved, but both companies are under the guidance of new management teams on both fronts. He’s moving some focus over to Defiance, and that’s why I wondered if there would be any synergy between DEF and the other two at one point.
Matthew – great charts as always. I’ve been adding a bit more for both Americas Silver and Scorpio Gold myself, but not at the level you have. Regardless, I share your enthusiasm on both companies. I’ve actually been shuffling things around a bit and rebalancing in my own portfolio. I fortified and increased position sizes in a number of Gold & Silver miners lately. In addition, I’ve even started a few new positions when I dumped some well-earned profits and few tax loss dogs I sold into some new positions in Pure Gold, Novo Resources, Montan Mining, Red Eagle Mining, and I’ve just started nibbling at Resource Capital Gold Corp. Others on the want list are Bear Creek, Santacruz Silver, Orvana, Orosur, Defiance Silver, Golden Predator, Golden Arrow, Ascot, Oceanus, Auryn, SantaFe Gold, Galane, Anaconda Mining, Patagonia Gold, Austral gold, Serabi Gold, Roxgold, West African Resources, Kootenay, Bayhorse, and maybe even wading back into Dolly Varden.
There are dozens in the Copper and Zinc space that have my interest as well, but I’m trying to cull the herd a bit and focus it down to maybe 10-12 base metals keepers for the next leg of the cycle. It will probably end up being 6 Copper and 6 Zinc and I have a few in the hopper in each category already.
BTW – You still following Chibougamau?
Hey Ex.When. You mentioned auryn in that list.I missed the webinar yesterday.Was anything new or of significance mentioned?Please list those 6 copper and zinc plays when you narrow down your choices. Also interested in which ones I’m not aware of that may be better than what I’ve already got
Where to Find the Next Great Gold Royalty Stock
Read more at http://www.stockhouse.com/news/newswire/2016/12/07/where-to-find-next-great-gold-royalty-stock#DwP7MPESOkWdjdCA.99
Hey Wolfster – been tied up today but as for the some of the Zinc & Copper companies on the short list that own, have traded or want to acquire:
Ivanhoe mines, Arizona Mining, Nicola Mining, Sierra Metals, Trevali Mining, Callinex Mines, Heron Resources, Constantine Metals, Excelsior Mining, Tinka Resources, Vendetta minings, Balmoral Resources, Aston Bay, Zazu Metals, Pasinex, Foran Mining, and Lion One are some of the ones on my short list.
There are a few Prospect Generator / Royalty companies like Altius Minerals, Eurasian Minerals, Millrock Resources, Strategic Metals, Globex Minerals, Transition Metals, and Midland Exploration that have very nice exposure to both PMs and Base Metals.
Wolfster – I was unable to attend the Auryn presentation due to a conflict, but just think they have a solid management team and have done some great exploration work up until this point in time, so they have my interest moving into 2017 and their upcoming drill programs to expand their resource base.
I liked that SH article about Silver Wheaton and the new company they are plugging Metalla Royalty (it was previously called Excalibur Resources and I’ve been watching it for a fair bit after another investor tipped me off to it). There are actually about 50+ companies I’m following that are Prospect Generator or Royalty companies now, but I’ve listed above some of the better ones in the prior post. There are a few Gold only ones like Aurico Metals or Terraco Gold that also look appealing.
Thanks as always Ex.Found myself looking at a silver play that has zinc and lead as well which I believe you and I believe Matthew have been discussing.T.USA.Seems interesting.
Deutsche Bank Provides “Smoking Gun” Proof Of Massive Rigging And Fraud In The Silver Market
Back in April, when we first reported that Deutsche Bank had agreed to settle allegations it had rigged the silver market in exchange for $38 million, we revealed something stunning: “in a curious twist, the settlement letter revealed that the former members of the manipulation cartel have turned on each other”, and that Deutsche Bank would provide docments implicating other precious metals riggers. To wit: “In addition to valuable monetary consideration, Deutsche Bank has also agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement. In Plaintiff’s estimation, the cooperation to be provided by Deutsche Bank will substantially assist Plaintiffs in the prosecution of their claims against the non-settling defendants.”
Overnight we finally got a glimpse into what this “production” contained, and according to documents filed by the plaintiffs in the class action lawsuit, what Deutsche Bank provided as part of its settlement was nothing short of “smoking gun” proof that UBS Group AG, HSBC Holdings Plc, Bank of Nova Scotia and other firms rigged the silver market. The allegation, as Bloomberg first noted, came in a filing Wednesday in a Manhattan federal court lawsuit filed in 2014 by individuals and entities that bought or sold futures contracts.
In the document records surrendered by Deutsche Bank and presented below, traders and submitters were captured coordinating trades in advance of a daily phone call, manipulating the spot market for silver, conspiring to fix the spread on silver offered to customers and using illegal strategies to rig prices.
“Plaintiffs are now able to plead with direct, ‘smoking gun’ evidence,’ including secret electronic chats involving silver traders and submitters across a number of financial institutions, a multi-year, well-coordinated and wide-ranging conspiracy to rig the prices,” the plaintiffs said in their filing.
The latest evidence is critical because as the plaintiffs add, the new scheme “far surpasses the conspiracy alleged earlier.” As a result, the litigants are seeking permission to file a new complaint with the additional allegations, i.e., demand even more reparations from the defendants who have not yet settled, and perhaps even more evidence of ongoing market rigging. Their proposed complaint broadens the case beyond the four banks initially sued to include claims against units of Barclays Plc, BNP Paribas Fortis SA, Standard Chartered Plc and Bank of America Corp.
Representatives of UBS, BNP Paribas Fortis, HSBC, Standard Chartered and Scotiabank didn’t immediately respond to e-mails outside regular business hours seeking comment on the allegations. Barclays and Bank of America declined to immediately comment.
The Deutsche Bank documents show, among other things, how two UBS traders communicated directly with two Deutsche Bank traders and discussed ways to rig the market. The traders shared customer order-flow information, improperly triggered customer stop-loss orders, and engaged in practices such as spoofing, all meant to destabilize the price of silver ahead of the fix and result in forced selling or buying. It is also what has led on so many occasions to the infamous previous metals “slam”, when out of nowhere billions in notional contracts emerge, usually with the intent to sell, to halt any upside moment in the precious metals/
“UBS was the third-largest market maker in the silver spot market and could directly influence the prices of silver financial instruments based on the sheer volume of silver it traded,” the plaintiffs allege. “Conspiring with other large market makers, like Deutsche Bank and HSBC, only increased UBS’s ability to influence the market.”
Some examples of the chats quoted are shown below. In the first example a chart between DB and HSBC traders in which one HSBC trader says “really wanna sel sil[ver” to which the other trader says “Let’s go and smash it together.”
Intel should be able to hit $40 in the spring.
Gap fill coming on EFR.TO ?
The 9/15 gap, definitely, but I don’t know if it will need a short break first.
Thanks,Matthew.
SPY up VIX up what do you all say about these apples?
Northern Dynasty Minerals (NDM) s on a nasty tear, I had a feeling Trump’s new E.P.A. appointment would give it lift. DT
Go Baby Go! DT
Where will the investing herd stampede next, zinc plays in Australia? DT
Hi Al / Cory
Your viewers might be interested in a list of ‘gurus’ that I have stopped listening to for various reasons.
The following are very good at jaw-boning and postmortems but rarely spot inflection points in the market.
Lemons:
Greg Mannarino, Marc Faber, John Williams, Bill Murphy, Jim Willie, Steven Roach, Craig Hemke
The ones that I feel still have something to say are
Pearls:
Rick Ackerman, Ned Schmidt, Jim Rickards, Chris Vermillion, Jim Rogers, John Rubino
The following see the big picture but are terrible market timers. If nothing else they are
very entertaining, especially if you are enjoying a chicken sandwich at three in the morning.
Ranters and Ravers:
Gerald Celente, Andy Hoffman, David Stockman
Bob Grierson
Switzerland