The divergence between gold and silver and what February holds
Today with Doc we discuss what Rick has to say earlier today about the divergence between gold and silver. We look at the longer-term charts to determine how the metals will move throughout February and most of this year. A buy the dips strategy is in play for us.
Click download link to listen on this device: Download Show
Creeping up? It’s up 22.73% today, at the moment, and 125% since the December low! 😮
I don’t follow this too closely. But they produced over 36,000 ounces of gold in 2016.
124 million shares outstanding. But only $.12.
Is there a bad history here/
Too many seem to have been too focused on its limited mine life (which I am betting will be expanded) instead of its exploration potential — which is funded without diluting shareholders.
It has very promising Nevada properties and close to $10 million in working capital. Ironically, I think it would have fared better last year if it had no production at all.
I think it also suffers from a lack of visibility/promotion. Few seem to know that it exists.
http://stockcharts.com/h-sc/ui?s=SGN.V&p=D&yr=1&mn=3&dy=18&id=p00429369469&a=453696495
+1
Volume on Scorpio is huge
see if it follows thru…….tomorrow …..at .13cents……worth a look see
As of today the V.ATC chart looks ready to blow. Looks exactly like the IVN chart in July right before it exploded.
yuuuuggeee! yuge yuge yuge! 🙂
Nice move,Matthew.
Doc,
I´m curious,about IVN, based on your technicals,when do you see the next adding/buying opportunity in this thing.
The volume resistance looks thin?
Thanks
Pete, I own IVN and wish I owned more. The daily and weekly tell me we’ll have to wait some time before the next buying opportunity that is significant. I’m just not going to chase it here since it’ll bring up my average cost.
Thank you,Doc
I wish i owned more too 🙂
meant to put my least comment under here. V.ATC chart looks look IVN in July. ATC is set to explode this year. Just announced a big program for the first time in 3-4 years.
Peter, very nice looking chart —-I’m interested
Thanks,Peter R.
SGN, MATTHEW SELLLLLLLLLLLLLLLLLLLLLLLLL! just kidding! DT
Easier said than done, DT, I’ve got more shares than were traded on this high volume day!
(And you can’t make me! 😉 )
Typical 1% ….. buying up 1% of the shares….. Leave some for the little people…..
That’s it, Tiny Tim say’s “may I have a little bit more please kind sir.”
I’d have to sell a lot to get down to 1%. 😐
What makes you thing they will extend mine life?
They have exploration projects going all around their Mineral Ridge project and a few more shallow open pits they are adding to the mix this year.
Dec 8, 2016 – “Scorpio Gold Corporation (TSX-V: SGN) reports results from the 2016 delineation drilling program in the Bunkhouse Hill area of the Mary LC pit at its 70% owned Mineral Ridge project, located in Nevada.
The Bunkhouse Hill area extends northeast of the Mary LC pit. Drilling in 2015 intersected significant mineralization extending 250 meters northeast of the Mary LC pit at vertical depths of 50 to 150 meters (see June 29, 2015 news release). Fifteen RC holes were drilled in 2016 to further test and delineate the economics for extending the Mary LC pit into this area.”
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
__________________________________________________________________________
** I’d also mention that they can bring back on line their Goldwedge property in Nevada (currently on care and maintenance), that already has a fully permitted underground mine and 400 ton per day mill facility. The marketplace isn’t giving them any value for having a 2nd mine/mill already developed, but think about how long that process takes, and this was all done in the last bull cycle.
They’ve been expanding that resource as well, as their Dec press release noted:
Scorpio Gold Expands High-Grade Soil Anomaly in the Keystone-Jumbo Area at the Goldwedge Property, Nevada
Dec 15, 2016
Excelsior,
You are sharp like a katana,made by a master swordsmith 🙂
Ha! Thanks.
Jthe long is bullish too……..
What is Frank from Moscow’s position on things?
Doc’s comments are music to the ears of most listeners I believe. Agree with his comments to some extent that a sell-off is just around the corner. I’m wondering at what level of the DOW will the sentiment change from buying the dips to ‘the hell with it, I’m out”! The approximate 300 off the highs still isn’t that point. Maybe tomorrow.
Should have added, I see 19200 as the first stop on this leg down; then 18800 region. May stop there.
I think not holding 19800 is important and it heads to at least 19500 but likely 19000. It broke 19700 briefly today.
the markets will be hit…..by the boomer retiring
then again…….they may keep rolling the dice
The Latest: Pipeline Protest Clash Causes Injuries, Arrests
Associated Press – 9 minutes ago
BISMARCK, N.D. (AP) — The Latest on the Dakota Access pipeline (all times local):
2:30 p.m.
Six police officers suffered minor injuries and one protester was taken to a hospital after a clash between law enforcement and opponents of the Dakota Access pipeline in southern North Dakota.
The Morton County Sheriff’s Office says the clash occurred Wednesday night at a blockaded bridge near the protesters’ main encampment along the route of the $3.8 billion pipeline to carry North Dakota oil to Illinois. Opponents worry the pipeline will harm the environment.
Authorities say the officers used less-than-lethal ammunition against protesters, including bean bag rounds and tear gas.
The officers suffered ankle, shoulder, wrist and hand injuries. The protester who was taken to a hospital suffered a face injury. Protesters reported other injuries on social media.
Twas the Night Before Inauguration!
Twas the night before Inauguration, and up in the tower,
The Donald reflected on his newfound power.
The conservative masses had come out in force,
And delivered a victory that would chart a new course.
The snowflakes were shell-shocked with tears in their eyes,
The media lied to them . . . What a surprise.
They had been promised a Hillary win,
But the criminal Clinton took one on the chin.
And though from all corners celebrities flew,
They made no impression, for they hadn’t a clue.
They talked about climate, racism, and such,
And they made up good stories . . . But didn’t know much.
The fake news and ignorance came at a cost,
And they can’t understand all the reasons they lost.
They blame it on Comey and Bernie and Vlad,
But fail to acknowledge the one that was bad.
Yes, Hillary Clinton, in many ways flawed,
Was her own biggest hurdle toward getting the nod.
The campaign exposed her corruptness and greed,
And her speeches were punch-less as ten dollar weed.
So out in the streets there arose such a clatter,
It was Soros-paid protestors and Black Lives Matter.
With cities to pillage and windows to smash,
They knew not the issues, but needed the cash.
Eight years of Obama had given them cause,
To expect a replacement of their Santa Claus.
But soon the protestors will feel the pain,
When the wheels fall off of the old gravy train.
And now all the snowflakes are riddled with fear,
Upset and offended by things that they’ll hear.
The cocoa and crayons will help for a while,
But fact-based opinions will soon cramp their style.
I originally supported, and voted, for Cruz,
In the end, I would vote for whoever they choose.
He wasn’t my first choice, but soon I would cede,
The one they call Trump is the one that we need.
I saw him on TV in front of a crowd,
He spoke about veterans, it made me feel proud.
He spoke about energy, safety, and jobs,
Taking this country back from the Washington snobs.
He was dressed in Armani, all tailored and neat,
And the Brunos he wore made the outfit complete.
For a man of his vintage, he seemed rather fit,
And he looked presidential, I have to admit.
His eyes glowed like embers, his smile was the best,
And his hair was the color of my old hunting vest.
His love for this country was on full display,
And his actions spoke louder than his words could say.
He thanked all his voters, and before he was gone,
Saved thousands of jobs while Obama looked on.
The fate of this country left nothing to chance,
So, he filled out his cabinet weeks in advance.
The men he had chosen were of the same mind,
Let’s set the bar high, and not lead from behind.
He picked up his phone as he rose from his seat,
With a flick of his finger, he sent out this tweet;
“Now Mattis!, now Kelly!’ now Sessions! And Pruitt!
On Perry! On Flynn, You’re the ones who can do it.
Start lifting restrictions and building the wall,
Now dash away! Dash away! Dash away all!”;
The roar of his audience rose from the stands,
He kissed all their babies and shook all their hands.
He answered their questions and calmed all their fears,
They knew it would be a fantastic four years.
Then he jumped in his limo, and off to his jet,
A fellow that Liberals won’t soon forget.
He sent one more tweet as the evening expired;
“Happy Inauguration to all,
AND OBAMA – YOU’RE FIRED!”
I stole the above from a blogger over at Zerohedge.
His username is …jus_lite_reading
thanks ………for the tweet….or was that a treat……
20 hrs……..to go…….and he can tell them the good news………
make that 19……
15 to go
And Trump’s meeting with Robert F. Kennedy, Jr. about vaccine safety is fantastic! Hillary was owned by Monsanto and the drug companies and was all for more mandatory vaccines. I fear Trump’s life is in danger from the drug companies who stand to lose tens or hundreds of billion dollars, and jail time for their criminal executives.
Monsanto…..many have been telling about these crooks for years……glad to hear more is coming out.
The top criminals at Merck and Eli Lilly must have choked on their toast when they heard that Trump met with RFK, Jr. about vaccines last week. I’m not sure if Trump even knows about Monsanto yet.
there goes the Lilly endowment ………..
glad I dumped my stock several yrs ago…on lilly
I have a few relatives who work at lilly……i’ll ask them about there retirement benefits.
there to their
I’m glad I sold my Lilly years ago, and 3/4 of my Merck last year. Guess I should sell my Glaxo next. Think I’ll keep my JNJ as they don’t make vaccines.
JNJ…..good company I have not looked at them for awhile…..
gotta watch the baby power……..
I mean the baby powder
URA and Cameco did well today. URRE went nuts. Almost 28% up.
I tend to agree with Cory – any ‘Trump correction’ will take down all stocks including the precious metals and the rare metals. But they will be the fiirst to snap back.
It would be nice if a nice 5% – 10% drop comes in the next few days.
Darn it.
Natural Gas Leaking From Pipeline In Gulf Of Mexico
Associated Press – 5 minutes ago
CAMERON, La. (AP) — Federal regulators say a pipeline is leaking natural gas and liquid hydrocarbons in the Gulf of Mexico off Louisiana.
The Bureau of Safety and Environmental Enforcement and the U.S. Coast Guard are responding to the leak in waters roughly 30 miles southwest of Cameron, Louisiana. It was reported Wednesday afternoon by offshore oil and gas operator Fieldwood Energy, LLC.
Federal authorities say Fieldwood saw and reported the leak less than a mile southeast of Platform West Cameron-165, currently shut, in about 48 feet of water. The sheen was last reported to be about one mile across and 10 miles long, and the operator estimated the spill volume to be roughly 750 gallons.
The pipeline is operated by Houston-based Kinetica Partners LLC.
Blame BP.
Awful for the wildlife.
Japan gives passing grade to 10th nuclear reactor
http://asia.nikkei.com/Japan-Update/Japan-gives-passing-grade-to-10th-nuclear-reactor
I wonder if this was the cause of the uraniums stocks shooting up.
Thanks for the post Pete.
Interesting.
………….19 hrs. to show time………………zero hr…….
Obama commutes 330 drug sentences on last day as president
WASHINGTON (AP) — In a last major act as president, Barack Obama cut short the sentences of 330 federal inmates convicted of drug crimes on Thursday, bringing his bid to correct what he’s called a systematic injustice to a climactic close.
He still has till 11:59…..nothing like wait till the 11th hour
The Doc always makes a lot of sense but if you want excitement go to King World. Here are the latest hilarious headlines:
http://kingworldnews.com/the-greatest-secret-of-this-century-and-why-gold-is-headed-above-6000/
http://kingworldnews.com/john-hathaway-china-preparing-to-radically-reprice-gold-higher/
As gold goes down the forecast for gold always rises on KWN.
January 19, 2017
With his final offer of clemency, Obama brought his total number of commutations granted to 1,715, more than any other president in U.S. history, the White House said. During his presidency Obama ordered free 568 inmates who had been sentenced to life in prison.
We can call him Clementine OC…..no OJ
3 strikes and you’re out principle, totally erased.
And I bet…..OC’s records will be erased……
where are those college transcripts………..
Here is the foolish reasoning for 6000 gold:
$6,000 Gold Is On The Way
The only way that the increased investment demand can be satisfied is with higher prices since production cannot be increased. An institution who wants so spend $1 billion on gold would get 25 tonnes at current prices. But since there will not be enough gold available at the current price of $1,200, prices will need to increase at least fivefold to $6,000 within the next 8 years in order to satisfy the increase in demand. So for the $1 billion investment, the institution would get 5 tonnes of gold rather than 25 tonnes.
KWN forgot about the demand side. As price rises demand falls. Basic economics.
Falling demand will keep the price from rising above 2000.
sounds to logical……and we know nothing is logical with gold……. 🙂
Re: “As price rises demand falls. Basic economics.”
I think it’s pretty clear that people act differently when they invest than when they go shopping in the real economy.
Whether we’re talking about gold or stocks, most people get more interested in buying as prices rise.
Gold went up 25 fold in the 1970’s bull market but most people bought in 1979 as it quadrupled in one year. The same applies to the Nasdaq 17 years ago. This is why very few people can say that they emerged from those periods with a fortune or even better off.
As it becomes unaffordable in China and India where incomes are lower people stop buying and wait patiently for corrections.
I agree with that.
PaulL:
50% of all the gold ever produced has been mined since 1975. We aren’t about to run out of gold. Relative to silver, platinum, palladium, postage stamps, cheerios, sugar, cars, houses and kitty litter, gold is expensive. Those touting $6000 gold are really just commenting on the price of the Dollar Index and when the dollar goes to zip, you may as well quote gold in Zimbabwe pesos.
I’m going to have to start tracking the Gold:Cheerio ratio and Gold:Kitty Litter ratio. 🙂
Great point though, all joking aside.
Russia continues to act statesmanlike: they invite the new President elect to the Syrian peace talks and again snubbing Obama:
40 year-old CIA documents (newly declassified) discuss Gold price manipulation:
I see Jamie D’s compensation at $28million……cornering the silver market makes you rich…..
i thought he was moving to Alaska……..must be to profitable living around the bank, under the bank and thur the bank…
Jerry, Jamie D’s bought property next door to John K in Alaska, those multi billionaires like to go fishing in Bristol Bay, just wait till Northern Dynasty gets their mine permit are they going to be pi$$ed! DT
DT…..thanks for the info……..I think I will buy some Northern
Hi DT :
JK, land rich,cash poor. Unemployed commercial fisherman.
jamie…..moved from the inter bank to the outer banks of Bristol Bay…..is he going to corner the fish market next……….
It always amazes me who shows up to go fishing in Bristol Bay. Presidents, CEO’s.When I was guiding I would tell them the bears don’t care how much money you have.
Sarah Palin and her husband Todd have the best set net site on the western side of the Bay.
JohnK, I don’t know whether you have gone to any investment conferences like The PDAC in Toronto but it is always the guys that dress like poor commercial fishermen that have the most money. LOL! DT
You guys are great…..
18 hrs……….to go………bye, bye zero
oops………17 to go………
15……………..
boo hoo……..this is zero’s last night in the whitehouse…………
You’re cracking me up The Claw. Give em’ The BOOT.
less than …..3 hours…………and the boot will be delivered…… 🙂
The Donald’s tweets today
I just read this post from a contributor on GoldTent and it made me laugh and the comments underneath the article are good as well. Hopefully it doesn’t rub anyone the wrong way, as I believe the author was sympathetic to the topics address but was just ribbing his fellow bloggers. Click on the link at the bottom for the comment section:
_________________________________________________________________________
So ? What the Hell is so addicting about The Gold Markets ?
Why are You here ?
December 14, 2016 – 6:59 pm
Posted by Fullgoldcrown @ 6:59 pm
I mean here at Goldtent ?
“Some of you have been here ( at this url) for 12 years , from back when it was Goldbug Central all thru the Great Gold Bull of the 2000s .”
“Some have been starting to read here more recently because there are always those who become fascinated by the whole “Gold Story”.
You know ,the whole….
1..”End of the Financial System as we Know it is Imminent Theory” that every one of you believes in at some level ……….thing.
2.. Keynesians vs Austrians thingy.
3…The whole Powers that Be thing where Those who cannot be named , hate gold because it hinders their diabolical plans .
4….The Gold IS Manipulated all day every day group.
But You may be opening you mind to the fact even though we think Gold is the only honest money
It is ultimately just a good trading vehicle and fascinating to watch trough the eyes of “THOSE with CHARTS” !
Rambus likes to tell subscribers he is not a goldbug , but he watches the Gold Markets primarily because the Chartology tends to be the best and cleanest of all the markets , and the sector is small enough to get to know really well.
One thing we have going for us in this community is we have become gold traders via many different TA disciplines
We are fortunate enough to have posting here , Classical Edward’s and Magee Chartists , Elliot Wave Analysts (Amatures and Pros) , Cycles Experts , A Market Historian , Full Spectum Analysts ( like Jordan) who study FA as well as TA , Trend Analysts , And some who blend all of the above and more. Not to mention a Crazed Comedic Weed Analyst .
Its OK to believe the Gold Story. Personally I still believe some of it . But investing in that story can and has lead to financial ruin for those who jump into Gold without a plan.
Like a lot in this group I find having a little physical gold but actively trading paper gold via TA and an online trading account, works for me , while we are waiting for Armagolden to come.
I would like some of you battle tested veterans of this site to share your experience with us. There are still a lot of goldbugs and those who wont admit they are who have been fascinated by this story since 1975.
Good weekend project
FGC – (Posted by Fullgoldcrown @ 6:59 pm)
Wednesday Report…Yet Again: The Most Important Chart on the Planet
Posted on January 18, 2017 – by Rambus
“Tonight I would like to update you on the US dollar as it plays such an important role in so many different markets. Getting the big trend right on the US dollar can help you see what areas are affected by the dollar to invest in. There are alot of areas that have an inverse correlation to the dollar, such as commodities and the precious metals in particular.”
Sid Norris webinar Elliott Wave & Hurst Cycles
Jan 16, 2016 – #Webinar by Sid Norris about SP500 & DJIA
GOLD Technical Analysis Chart – 1/19/2017 by ChartGuys.com
NUGT Update… NUGT 60 shows potential bull flag…
Posted by EagleSeagle – January 19, 2017 – 1:16 pm
https://goldtadise.com/wp-content/uploads/2017/01/NUGT-1.png
Curb your Copper price enthusiasm – report
Frik Els | about 7 hours ago
Thom pumping out updates.
http://thomcalandra.com/next-pretium-for-extremely-high-grade-nested-gold/
Interesting thoughts on Golden Predator, Pretium, and the Uranium miners.
Thanks Wolfster.
This is a big year for gold i believe (and by default, so too for silver). It has now been nearly 5 years since the bull market in gold ended and off an overall solid year in 2015, needs to consolidate on those gains again this year. Basically finishing the year in the high 1200s to 1300 would be another sound based year.
Sooner or later gold will have to contend with that 1370 mark where it has previously failed on several occasions over the last few years. It will first need to clear then stay above it otherwise it will just be chasing its own tail and getting nowhere.
The big question is, how significant a role will Mr Trump play in the USD market in his first year?
Wonderful post. It echoes my same thoughts today.
Ex, Have you heard of Cobal Tech, Syl, CSK TSX-V, I just read an article about them re-commissioning old silver mines in Cobalt Ontario for the silver tailings and the cobalt that is present in the mix. DT
No I hadn’t DT. Very interesting. I’ll have to look into it further.
There have actually been a few relaunches of old projects lately in the Silver space and it’s been hard to keep up with all of them. I’ve been sticking with ones I’ve followed and understand a little better, but its interesting to see how quickly new ventures come out of the woodwork once the metals prices started rebounding last year.
Another Silver reboot people were buzzing about yesterday was Bitterroot Resources:
Bitterroot Resources Acquires Option on Former High-Grade Silver Producer, Silver Mining Executive John Wright Joins Board of Directors
January 18, 2017
http://www.bitterrootresources.com/s/newsreleases.asp?ReportID=776134
(LAC) (LACDF) Lithium Americas Is Looking Good And Is Now Significantly De-Risked
Jan. 19, 2017 – Matt Bohlsen – Seeking Alpha – #Lithium
Watch For A Spike (Volatility)
Jan. 20, 2017 – Brandon Dempster
Summary
“Trump’s inauguration stands to be the first major event of the year to cause a spike in volatility.
Several strategies can be employed to capture this potentially heightened level of volatility.
Expect the unexpected when it comes to Trump’s executive orders….”
EX, volatility is good for traders, I will find it refreshing. DT
Agreed.
Time to buy back BP. It has still not gained today with oil up. I am back into this one.
Matthew, SGN is creeping up, this must be The Trump effect. LOL!