US Markets, USD and Gold
In today’s market wrap we take a look at some of the short term technical outlooks for US markets, the US Dollar and Gold. I look at the timeline up to Trump’s inauguration and levels that the US markets need to hold if they are to remain in a technically strong position. As for the US Dollar it traded very close to a recent high and looks to remain strong. As for gold a bounce is due but it is sure taking a while.
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What if I told you the DOW IS GOING TO 10k this year and the $ has topped?
This year? Well it’s got 2 days to drop about 10k points.
Dow failed a 3rd attempt I believe and that is a signal for traders to get out. 20k could take to mid January or later as the Dow heads toward 19000 first.
good show!
If JTL is right, he’ll be the new champ!
I heard that Obama called Trump today…
Obama: “We need to talk.”
Trump: “Who is this?”
Obama: ” This is President Barrack Hussein Obama. Weren’t you notified I was going to call?”
Trump: ” Oh geez, hold on a second, can you believe Bibi and Vlad are trying to call me at the same time, lol.”
(Obama’s on hold and hears a “click” but Trump purposefully pushes the conference call button instead)
Trump: “Hey guy’s, you-know-who just called and I put him on hold.”
Putin & Bibi: (bursting laughter) “Holy crap, seriously? Ask him if we should return his jock strap!” (more hysterical laughing)
Trump: (laughing) “Yeah, he called and I asked who it was?”
Obama: “Uh, I can hear you guys.”
Putin/Bibi/Trump: (crying laughter) “Yeah, we know!” (laughing)
Obama: (click)
LOL… That was good, DPH.
The 0 legacy is getting interesting.
Ebolan, that’s a good one ! Very funny !
James, you’ve been posting here for years and it’s a shame that you still haven’t figured out how to reply to others properly. All you have to do is click on the words “Reply to this comment” below the comment you’d like to reply to. You can print this out for future reference if you like, but I’m confident you’ll get the hang of it in just a few months.
You’re welcome.
Al and Cory,
Just because Trump is elected and he will create jobs and drain the swamp doesn’t mean that the stock market will do good. You have to separate the market from Main Street. The infrastructure spending will be private, Not Government. We are in a debt bubble and Trump can’t stop that.
Main Street America will do much better under Trump, but the markets have to get washed out during the process.
I agree with all you lay out there Chartster. I have been on record saying this rally is far ahead of itself and nothing has changed for the underlying economy. I am even skeptical that Trump will be able to help out the middle class as much as some people believe.
any idea why URA shat itself last night guys?
Palisade – Sprott Monthly Market Update with Rick Rule: Uranium Is Nearing The Bottom
BY COLLIN KETTELL ON DECEMBER 18, 2016
This was a great interview with Rick on Uranium, and I love the sound of 20 to 1 returns in this next cycle. 😮
David Cates: The Uranium Market is Getting Tight, and There Isn’t Enough Production
BY COLLIN KETTELL ON DECEMBER 20, 2016
“David Cates, president and CEO of two companies- Uranium Participation Corporation and Denison Mines, joins us to discuss the Uranium market.”
Govind Friedland & Daniel Major: Uranium Tides are Rising as Utilities Turn Like a School of Fish
BY COLLIN KETTELL ON DECEMBER 25, 2016
NexGen CEO: I’ve got LOT of uranium and it’s easy to get at
BNN Interview
“The CEO of uranium explorer NexGen Energy says his project in Saskatchewan… where some of the rock could be worth almost $10,000 per TON… would be much simpler to mine than other deposits in the province”
http://www.bnn.ca/video/nexgen-ceo-i-ve-got-lot-of-uranium-and-it-s-easy-to-get-at~820983
More High-Grade Uranium Intercepts at Energy Fuels’ Canyon Mine Continue to Expand the Mineralized Zone
Lakewood, Colorado – December 28, 2016 (UUUU) (EFR)
“These new intercepts, including 28.5 feet of mineralization with an average grade of 2.41% eU3O8, further expand the mineralized zone at the mine. ”
Energy Fuels Announces Improved Project Economics for its 100%-Owned Roca Honda Project; Reestablishes ATM Program
LAKEWOOD, CO, Dec. 23, 2016 /CNW/ – Energy Fuels Inc. (NYSE MKT:UUUU; TSX:EFR)
Uranium: Time to Invest?
WindRock Wealth Management – Dec 15, 2016
Interview with Amir Adnani, CEO of Uranium Energy Corp $UEC
Surging US Dollar in 2017 a Catalyst for Gold Bottom
12/28/2016 | Jordan Roy-Byrne CMT, MFTA
https://thedailygold.com/surging-us-dollar-2017-catalyst-gold-bottom/#
SLIDESHOW: Mining on the mend – 2016 Year in Review
Frik Els | about 7 hours ago
(This is a very interesting #SlideShow with different articles and milestones that paint the interesting year that 2016 was in the mining sector)
http://www.mining.com/slideshow-mining-mend-2016-year-review/
This Video was a nice reminder of some of the basics with investing in the Gold & Silver &Base Metals Mining space.
Just thought I’d share it with the KER crew for anyone interested. Cheers!
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Investing in Mining Stocks & Companies: Price, Location and Red Flags?
Dec 23, 2016 Amanda van Dyke: Mining Analyst and Fund Manager
“How important is location and jurisdiction? If I’m rewarded for taking a bigger risk with a lower price, then I will probably invest in a higher risk country. There must be some red flags when looking at companies. Management is incredibly important – from finding something to developing it and pouring your first metal… Proven management is key so the track record is incredibly important. Mining is a team effort…”
Michael Oliver – Technical Views, 2017 Forecast
Jay Taylor Media – Dec 28, 2016
“Michael Oliver shares technical views on Stocks, Bonds and Precious Metals markets and says he will issue reports on the four major exchange traded categories.”
Thanks. Great video worth passing on…
Yes, great interview. I really like Oliver’s approach and am happy to hear that my outlook for 2017 is extremely similar to his.
Thanks, EX.
Cheers guys. Hope everyone is enjoying the pop in the miners today 🙂
Lithium Producers Can’t Expand Fast Enough To Meet Demand: An Interview With Orocobre CEO Richard Seville
Investing News Network • December 26, 2016
Construction begins on the Lithium Plant of Cañarí-Olaroz
reported by Lithium Americas Corp.
“In the first days of 2017, one of the most ambitious lithium projects in the country will begin to be built: the Salar de Caucharí-Olaroz, in Jujuy. With its defined integral development plan, the enterprise officially entered its preconstruction stage.
These days, Lithium Americas Corp. – which manages a 50% stake in Minera Exar, the venture operator – is finalizing details to complete the project’s engineering without stopping the exploration work. “The idea is to undertake construction in early 2017 to achieve an initial production of 25,000 tons (Tn) of lithium carbonate equivalent in 2019,” said the company led by Canadian Tom Hodgson.
The more I look at the situation, the more I think the miners made their low last week.
GDXJ weekly
http://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=6&mn=3&dy=0&id=p55521773412&a=422269671
Well, prices had dipped down low enough last week, that I moved some dry powder into the miners in a more aggressive way. If we see any more weakness in the metals and miners in early January, then I have one more tranche of dry powder to deploy, but then I’d be fully allocated to the miners.
I hope you are correct about the Jr Miners having bottomed last week, but if not it seems as if selling is starting to exhaust itself. We are at least due for a rally soon, and it very well could be we did make a double bottom in late 2016, like we did in 2015. If the seasonality pattern continues then Q1 2017 could present a nice rally, like it has the last few years.
GDXJ priced in gold (GLD) adds to the likelihood that the miners have bottomed:
http://stockcharts.com/h-sc/ui?s=GDXJ%3AGLD&p=W&yr=4&mn=7&dy=0&id=p80797820046
The loonie action does too:
http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=0&mn=9&dy=0&id=p12572614794&a=490862584
Hey Wolfster, tune into the weekend show we will be kicking for the first 2 segments with Rick!
Nice!
With pleasure……and thanks for all your work gentlemen
Nice top 5 pick for 2017
http://seekingalpha.com/article/4033227-top-5-mining-stocks-2017?$SYAAF $SRHYY $PTM $PLG $NSU $NXE $NXGEF $IVN $IVPAF]SA
Read more at http://www.stockhouse.com/companies/bullboard/t.ivn/ivanhoe-mines-limited?postid=25649986#5olJqgRJq7Q32z1z.99
Nice Wolfster.
Well I own 3 of the 5 top picks – Platinum Group Metals, Nexgen, and Ivanhoe. Actually they were more fun to own since the beginning of 2016, but I still expect good things from them in 2017.
Here is the link to the actual Seeking Alpha article they are referencing on that bullboard:
Top 5 Mining Stocks To Watch In 2017
Dec. 29, 2016 – Peter Arendas
http://seekingalpha.com/article/4033227-top-5-mining-stocks-watch-2017
I can find them.just can’t copy and paste properly.lol
Oh I see it now. Ha!
To me Ivanhoe has come a long way since early 2016, and I’m actually considering lightening up on my position some, in search of companies that are more undervalued. The DRC & South Africa jurisdictions are not without risks, but I may put the funds into US & Canadian PGM companies to level that off a bit. Platinum Group Metals also resides in South Africa, and I’m willing to risk it on their 2 high grade development projects and also for Ivanhoe’s 3 assets, but currently I feel (PLG) (PTM) is more undervalued compared to Ivanhoe at this point. I may just keep adding to Wellgreen, Polymet, North American Palladium, and maybe Group Ten Metals, Panoramic Resources, Wallbridge Mining, and Noront Resources to diversify the PGM miners a bit.
As for Nexgen, I get more than plenty of perspectives on the very active board on ceo:
I am on record saying the DOW will never take out 20k.
What if they threw a DOW 20k party and nobody showed up.
So this BIG FAT UGLY BUBBLE TRUMP spoke about while he was campaigning is suddenly a legitimate bull market? I THINK NOT.
Mr. Trumps words are meaningless. His actions, and his constraints are all that matter.
What if I told you the DOW IS GOING TO 10k this year and the $ has topped?
Sounds ludicrous right.
THIS IS MY BET!