A Temporary Gold Breakout and Global Asset Correlation
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On this week’s show we focus on yields and global money flows for the first hour and gold and gold stocks for the second hour. It was a tame week for the markets outside of Trump’s comment on the dollar that caused some short term swings. Moving forward we continue to be in uncertain economic times and investors are having trouble going all in on any one asset.
Just a reminder if you are in the Vancouver area on Sunday or Monday, swing by the Vancouver convention center for the Vancouver Resource Investment Conference. I will be at booth 1105 and speaking on Monday at 11:40am.
- Segment 1 & 2: Chris Martenson, Co-Founder and CEO of Peak Prosperity, discusses the massive drop in the global correlation of assets and the concept that central banks follow on the way up. Click here to visit the Peak Prosperity website.
- Segment 3: Greg Melia, President of Melia Advisory Group shares his views of why he does not believe in the US equity markets.
- Segment 4: Fund Manager Dana Lyons looks at the COT reports for US Treasuries and finds some extreme levels. Click here to visit Dana’s My401KPro site.
- Segment 5: Managing Partner at the CPM Group in New York, Jeff Christian outlines the big issues for the precious metals in play for 2017.
- Segment 6: We get an update from Exeter Resource President and CEO Wendell Zerb on the recent news that helps move the Caspiche project forward. Click here to visit the Exeter website.
- Segment 7: Mariana Resources also came out with a PEA this week was showed some great results. Glen Parsons, CEO of Mariana provides a great overview on the numbers. Click here to visit the Mariana website.
- Segment 8: We wrap up the show with Ned Schmidt, Founder of Value View Gold Report and his comments on the gold market.
Here is the chart from segment 1 with Chris Martenson outlining the global cross-asset correlation.
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Segments 1 and 2:
We have never had so much collusion between central banks in all of history.
The level of interest rates was the lowest in ALL recorded history; 5,000 years.
As someone who worked for OXFAM in the sixties, let me state that the organization is now dominated by pure Marxists. I would never believe any statistics generated by them.
ditto
Re: Segment 5:
The price of Precious metals will be less determined by the US in future.
https://www.bloomberg.com/news/articles/2017-01-18/china-investors-find-comfort-in-gold-etf-amid-capital-outflows
That was a nice short video on the Chinese economy embedded in that article.
Thanks CFS.
Dan Lyons thoughts on speculators being extreme holders at turns is the same as Adam Hamilton’s beliefs on speculators of gold futures……..Says a lot to me if one is investing in gold. http://www.321gold.com/editorials/hamilton/hamilton012017.html
Ha, Just realized that you already had the Hamilton link posted, but thought it was a link to Dana Lyons based on the preceding comments. Good work sir.
Tim Wood still thinks gold is going to take out its 2015 low…
http://www.howestreet.com/2017/01/19/will-gold-dip-before-major-rally/
I disagree with Tim, btw & fwiw.
gtk
I believe the odds of that are about 20%
Gold Mining Stocks Are Poised to Soar More Than 1,000%
By DAVID ZEILER, Associate Editor, Money Morning • January 20, 2017
http://moneymorning.com/2017/01/20/gold-mining-stocks-are-poised-to-soar-more-than-1000/
Gold and Uranium Miner Update as the Trump Era Begins
Friday January 20, 2017 – David Erfle
Gold Futures Looking Bullish
Adam Hamilton – Jan 20, 2017
http://www.321gold.com/editorials/hamilton/hamilton012017.html
MINING STOCKS BULL MARKET
A longer term view of the 20 month moving average on mining stocks suggests that a new bull market is well underway. This moving average has not only been recently retested but is rising as in previous bull markets. The negative sentiment extreme reached several weeks ago is providing the fuel for this first leg higher.
Weekend Review – Peaceful Transfer of Power Signals Beginning of New Era
January 20, 2017 – Gary Wagner
President Trump’s Words Lead to Higher Gold Prices
“Gold had been trading quietly throughout the evening session, in a defined narrow range, with an intraday low of 1198. Just prior to the inauguration, gold in essence, was unchanged on the day, trading roughly at $1201 per ounce. However, gold prices jumped dramatically immediately following President Trump’s inaugural address to the nation. This alludes to the fact that his inaugural speech and its populous overtones characterized the timbre of his message.
This caused gold futures to spike to an intraday high of $1214 per ounce, and as of 4 PM EST, gold is trading at $1209 per ounce, gaining approximately seven dollars on the day. …”
http://thegoldforecast.com/video/peaceful-transfer-power-signals-beginning-new-era-0
Gold Looks Bullish
by @Goldfinger on January 21, 2017
Another good chart from Goldfinger, highlighting a subject we’ve noted on here numerous times over the last 2 years the Dollar / Yen to Gold correlation. It will be curious what causes this correlation to eventually break down. But for now, it’s pretty clear they appear to be tracking incredibly closely.
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@Goldfinger – “Another undeniably strong $gold correlation, this time with USD/JPY: ”
Thanks for all the posts Ex., A
Glad to share ideas Archdeacon (!) Andrew. Isn’t that what weekend shows are for? (ha!)
By DAVID ZEILER, Associate Editor, Money Morning • January 20, 2017
A List of Marijuana Stocks to Watch in 2017 – Money Morning | Invest …
investincannabis.ca/a-list-of-marijuana-stocks-to-watch-in-2017-money-morning/
A List of Marijuana Stocks to Watch in 2017As a service to readers, we’re now making available a 90-page cannabis investing guide called The Roadmap to …
Money Morning have been running alot of ads saying pot stocks can make you a millionaire.
there were definitely some high flyers in 2016, and seems reasonable to expect some more in 2017….
Pot is going to have a ruff time , with the new administration………
The U.S. market is risky, thats for sure.
akin to jr mining.
Canadian is a dif story, at this point, its as close to a guranteed win ya can get.
I personally prefer the companies that are profiting now.
check theyre expansion plans, that are happening now, and figure the profits on 100% sales.
Demand can not be met(just in Canada) by existing companies, and it takes 1 yr to 18 months just to get licensed, if legalization happens in 2017(already planned) it could still be a year before more companies even begin to supply.
= 100% sales as far as the eye can see.
Imagine what would happen to say Sears shares, or catipiller shares etc if that was the case.
Your right Jerry, pot could have a ruff time in the states, until Trump realizes the tax dollars it brings in of course.
He is a capitalist after all. lol
b…good point on the Canadian market for weed.
Tax revenue have some advantages…….like in highway funding, a little pot for the pot holes.
but, on the other hand the Christian right , which was important to the winning of Trumps campaign , will be a little harder to sway. Any revenue from taxes will be over weighted with the expense of addiction and cost of prevention and cure.
addiction and cure is a fallacy jerry. The # actually addicted is beyond miniscuale.
there is nothing to cure, but maybe we cant have people knowing that, the drug companies might be planning something.
it is funny to hear people talk about addiction to pot, they had a young girl on the news the other night “Im addicted” lol, stop smoking it ya dumb putz.
in about 3 days there is no more desire or urge, try quitting cigarettes, THATS addiction.
I have known people addicted to alot of things, booze,gambling,sex, heroin, fishing, hunting, football….the list goes on, but not once have I ever met a person addicted to pot.
I have known many growers, everywhere Ive worked and done business,
I have known countless pot smokers, I was in the forces, more pot heads there than anywhere else I have ever been.
If a person didnt meet pot heads where ever they went, its because they dont partake, the “heads” dont mention it to them.
too strong thc content?, mix it with something, dont smoke so much….duh.
Like people cant figure 150 proof liquer is strong, course people are stupid.
The reason its being legalized in Canada is two fold, enough Canadians have been smoking long enough to know all the bs about pot is just that, bs, the other reason is people are tired of supporting the criminal element and prefer to pay taxes on it.
heck, christian investors make money on killing the ocean,slave labor,bullets and bombs etc
when/how did pot get to be immoral? lol
“the number is beyond miniscule”(sp)……which is it, addition or no addition ?
POT addition is a progress illness, leading to other drugs………according to google it…
propoganda jerry, google or not.
Im in my 60s Jerry, as I said, Ive known countless pot smokers. from alotta walks in life.
never,ever,not one person have I ever known to be addicted to pot.
Also, I have never known anyone that has known anyone addicted.
There have been pot smokers all around you all your life…they just dont tell you.
Im the cop in an itty bitty town and I dont get much pay,
but I caught 17 outta state cars and 4 of my friends today,
I let the home town boys go home, they paid $5 bail, but all the divers in the outta state cars had to go to jail.
They hollered and they moaned they cried and they groaned, they all swore that theyd sue,
but the judge was hi and so was I and we needed the money too.
check the 50s info mercials…only dopes smoke dope.
lol, ya, my spelling is off sometimes.
these claims of pot being a negative thing is most likely put out by drug companies, big pharma.
it is true ya dont want people smoking too young, same as alcohol.
The brain is still developing.
b….it was I, who was posting without spell check…… 🙂
You are correct………never used the stuff……I am in my 60’s also, and really do not have the desire to do any discoveries at this stage of life. Each can decide on their own, no problem here……..Train a child up, be a good example for they are all watching so called adults…………jmo
One sin is as bad as another……….all have sinned , and fallen short, ……Pot luck I guess.. 🙂
1 Corinthians 8:13……what ever makes your brother to stumble
Something to be aware of regarding the pot industry..
https://www.thestar.com/business/2017/01/21/marijuana-growers-look-to-cut-costs-as-prices-fall.html
Honust Jerry, there was a time the last thing I did at night was roll a joint, first thing I did in the morning was “fire it up”.
Started at 15 yo, I didnt do so bad, retired at 53. Kids and grankids doin just fine.
Some people figure thats none too shabby, inventing the internet or finding a cure for sumtin would have been better. lol
I havnt smoked pot for years now, it was not hard to stop in the least. Just came a time I wasnt interested anymore.
Booze was much more hard, and cigarettes..good grief that was a tuff one.
I dont miss any of those, its a good card game I miss.
Playin the market is no where near as fun.
Totally inadequate.
oh well.
Thanks for the link Wolf.
Its all true, and as the guys that sold the pans and shovels made the money in the gold rushes, so too could the people that sell the fertilizer for pot be the big winner, pick ur #.
The price is falling, that was one of the reasons people wanted it legal, the bigger dollars were/are going to the criminal element. I actually have an edge, I know and understand the industry and the customers, for example, I knew about the price coming down years before we got to this point. Big Edge.
Thing is, as I have said,it takes 1yr-18 months to get licensed in Canada, today, we are no where near close to filling demand.
Do a DD on a company or 2, check their expansion plans, their sales, share price and # of shares, then compare to other companies, amazon, ford etc etc
The share price of profiting pot companies are going up, and they will continue to go up until equalibrium takes over, supply and demand.
That will be after the “blow off top” the top that occurs when the madness of crowds happens.
When that happens, all calculations will have to be done all over again.
They will have to be judged on profit and expense of sales. etc.
For now, volitility is even calming down, wish I could figure why they follow the gold price at times tho.
They seem to advance/fall about the same as gold shares, at least comparing to my list.
Thanks for sharing………
Trump and Pence………are not like Obama and Billy C.,both known pot heads.
Excelsior:
Ref. the article on gold stocks soaring more than 1000%……….Personally, I don’t usually give a lot of weight to these huge numbers. The background question is always, ‘What type of world will we be living in when that happens.”
As always, thanks for posting…..
Hi Silverdollar.
I agree with you that I normally tune out articles with large percentage increases in Gold or Silver, but this article discussed the Gold STOCKS going up 1000%. That doesn’t seem far fetched at all to me, because we just watched it happen this year. Many of the gold and Silver stocks were up 200-800% on the year, but there were a few high flyers:
Let’s not forget Impact Silver was up 933% in 2016.
Resource Capital Gold Corp was up 1220% in 2016
Canasil was up about 1340% in 2016
Silvercrest metals was up 2467% in 2016
http://stockcharts.com/freecharts/perf.php?IPT.V,CLZ.V,SIL.V,RCG.V&p=5&O=011000
Oh yeah….. and then there was Mexus Gold (MXSG) – who is about to announce they are going into production very soon, and just bought another past producing mine in the last few week…..
Mexus was up over 10,000% in 2016. So it’s pretty easy for me to get my head around some other Gold and Silver stocks going up 1,000% in the next year or two.
http://stockcharts.com/freecharts/perf.php?MXSG&p=5&O=011000
The crazy part is, that most of those companies have really only started the climbs that they will make in the next bull run, and I we’ll see many more multiple baggers that blow people’s minds in the resource sector (Gold, Silver, PGMs, Copper, Zinc, Uranium, Lithium, Oil, etc….) in the next few years….
Cheers and weekend beers….. 🙂
How do they say…..Touché!
I wish those gains for you and all our pals here on the KER in 2017 😉
So for the next batch of 10 baggers……
There was a stock picking contest at the end of 2016 on CEO, and everyone submitted such an array of interesting ideas. I’d like to share the current list I believe many of the next 10 baggers may be on the list. There is still a lot of homework to do, but figured this may stimulate a few other ideas from folks here on the KER.
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2017 Stock Picking contest entries on ceo.ca
https://astronomerb.github.io/CEOtable/
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It would be fun to hear from any other investors that may want to share some stocks they feel may be ready for a nice run during 2017.
Cheers!
For even more ideas……
Here is a separate contest we started as a joke, that actually became a parallel stock picking contest for entries from investors that couldn’t help but throw in a 4th stock beyond the 3 stock criteria for the previous list posted from the main Stock Picking Contest.
Anway, these were many people’s 4th pick. There are some interesting ideas to consider.
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2017 Bonus Pick Showdown on Ceo.ca
https://astronomerb.github.io/CEOtable/bonuspickshowdown.html
Enjoy, and if you have a pick or two in resource stocks or energy stocks or really any stocks that you think may do well in 2017 it would be fun to hear about them.
For those that still may want even more ideas for 2017……
Some contributors on ceo,ca mentioned that everyone was taking out-sized risks on some very speculative smaller Jr resource stocks and mentioned the like taking on some risk but wanted a “SAFER” list….
***Well, because everyone loves a 3rd Contest……….
………. the “Safest Stock Picking Contest” was born.***
Here is a list of 3 more stocks from investor on CEO that they felt would weather any storms and be a solid “Double” in value from their Dec 30th, 2016 close in the calendar year of 2017.
(You’ll have to scan back up the page so see investors 3 picks (normally in blue with $ next to them)
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2017 Safest Stock Picking Contest on ceo.ca
You da man, Excelsior!
Thanks for sharing.
GH – There are some great companies that everyone came up with in those 3 contests. Let me know if any strike your fancy, or if you have any we should keep on our radar.
Cheers!
Ditto GH.
OK – The table is now built for the “Safest Stock Picking Contest) – the 3rd one mentioned above, where investors thought these stocks would be a safe 2-3 bagger from their Dec 30th 2016 closing prices.
This is a pretty good list of companies for those investors that may want a little risk, but a little stability with a more trusted name at the same time. As always, do your own due diligence:
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2017 Safest Stock Picking Contest on ceo.ca:
https://astronomerb.github.io/CEOtable/safeststockpickingcontest.html
* PS – Special congrats to @Gab in 3rd place, who used to post here on the KER as Gabriel.
Thank for this Ex….found the CEO.ca etf a great final addition which I wish I had seen before turning my mind to mush trying to do a top 10 list in my head.lol
Wolfster, yes that ceo ETF was another cool idea that my buddy @Evenprime had to track the most popular picks (not necessarily the most profitable) from the original stock picking contest. However, if you look at the “Safest Stock Picking Contest” you’ll see that Teranga Gold is one of the most popular picks, (from me included) but it wasn’t part of the ceo ETF.
Still they are great lists to follow up on that were crowd-sourced from resource investors.
There is a 4th contest that is still being put into a table called “Swing For the Fences”. I’ll keep people posted once that is up for even more investing ideas….
Wolfster – did you notice Tinka was one of the more popular picks and has been doing well? My shares are up nicely in Tinka, and it is hitting upper resistance at present, but if it pulls back, it won’t last long as there are more and more investors foaming at the mouth to get in before their 2017 drill program commences. Just a heads up to on the Zinc front.
While thinking on Zinc…. I decided to pass on Callinex temporarily after their slightly disappointing drill results, and went in on Heron Resources.
Heron is an Aussie Zinc/Copper development stage project, and can’t remember if we’ve discussed it previously, but it looks interesting to me:
http://www.heronresources.com.au/downloads/presentations/hrr_p20161129.pdf
The number of votes received by each on that top 18 list:
EGT.V 14
PNN.V 12
VTT.V 12
AMY.V 11
NXE.TO 10
MMS.V 9
MRS.V 8
TK.V 8
NRN.V 6
SIC.V 6
ADZ.V 5
XMG.CN 5
EFR.TO 4
R.TO 4
RYR.V 4
SNG.V 4
VIV.V 4
ADK.V 3
A number of others also got 3 votes:
CDB.V 3
CNL.TO 3
FIN.CN 3
GLH.CN 3
GPH.V 3
GTT.V 3
ION.V 3
IVN.TO 3
MEK.V 3
NGZ.V 3
RTM.V 3
Yes once tk got through the .25 resistance it ran up nicely….nice to know its loved somewhere.get very little love anywhere else I go to keep informed…yes you have mentioned heron before.i considered it but went with tk and cnx…re:cnx the current drill results were not from the follow up drilling being done.they were from what was hoped to be another anomaly..follow up drill results are due shortly as well.hopefully they pay off.
GH – Thanks for the tallies on the different picks.
I’d add that Teranga Gold (TGZ) got 5 votes on the “Safest Stock Picking Contest”. Also they only tracked (EFR) for Energy Fuels but a few people also picked (UUUU).
Wolfster – Yes you make a good point about the drill results that Callinex just released (it was a wildcard attempt), however, the other drill results are still to be released, and they may be more encouraging.
I was going to get shares in Heron anyway, but was going to get Callinex first, but I just flipped their batting order, and will get into Callinex if it pulls back a bit more.
As for Tinka (TK) yes I’ve been encouraged by the growing interest. Here the latest scuttlebutt and thoughts from other Tinka investors:
Of 58 stocks picked on the safest list, the top 11:
NXE.TO 8
TGZ.TO 5
EDR.TO 3
FR.TO 3
IVN.TO 3
GQC.V 2
ME.TO 2
NXS.V 2
OOO.V 2
OSK.TO 2
SSL.TO 2
All the rest get only one vote.
But yes, there may be an error or three due to the use of the different ticker symbols for the same company…
Thanks GH. It’s still interesting data to have been crowd-sourced.
For example, look at how popular Vendetta Mining is with the Zinc crowd ,or Eguana Technologies is with the Lithium Battery crowd, or Pennine Petroleum is with the OIl crowd, or Nexgen is with the Uranium crowd.
Are the most popular picks better than the stocks that were only mentioned once? (not necessarily, but that list you culled out may be worth further inspection. Honestly I’ve printed off all the lists and am researching them one by one, but it’s just to check out what others thought represented unique value or potential opportunity.
I agree, Excelsior, very interesting to have the crowd-sourced info, which was why I wanted to see which ones got the most votes. Now reviewing charts…
Here’s a list of some of the companies that presented at the Metals Investor Forum on 01/20/2017. (nice looking list of companies from Eric Coffin, Jordan Roy-Byrne John Kaiser, Gwen Preston, and Joe Mazumdar)
MIF – January 20th, 2017 8:50 REGISTRATION & BREAKFAST
9:50 Eric Coffin – Introduction to the Metals Investor Forum 2017
10:00 Jordan Roy-Byrne, The Daily Gold
10:20 First Mining Finance Corp.
10:30 Callinex Mines Inc.
10:40 Auryn Resources Inc.
10:50 Adamera Minerals Corp.
11:00 MORNING COFFEE BREAK
11:30 John Kaiser, Kaiser Research Online
11:50 Skeena Resources Ltd.
12:00 GoldQuest Mining Corp.
12:10 Integra Gold Corp.
12:20 Millrock Resources Inc.
12:30 LUNCH BREAK
1:30 Gwen Preston, Resource Maven
1:50 NexGen Energy Ltd.
2:00 Uranium Energy Corp.
2:10 Red Eagle Mining Corporation
2:20 Playfair Mining Ltd.
2:30 AFTERNOON COFFEE BREAK
3:00 Joe Mazumdar, Exploration Insights
3:20 Mirasol Resources Ltd.
3:30 Nevsun Resources Ltd.
3:40 Eurasian Minerals Inc.
For investors that want to take a deep dive into many of the key note speakers, the companies, and Corporate Presentations on VIDEO, from the prior MIF (Metals Investor Forum) event…… then take a look at this YouTube page: 🙂 😉 😮
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Beneath The Surface
Here is the link to watch the videos from the Metals Investor Forum from this weekend on the Kitco Insider page. You have to sign up, but it only takes a minute and is free.
Gold Market Tactics: Tighten Profit Locks
Morris Hubbartt – posted Jan 20, 2017
Super Force Precious Metals #Video #TechnicalAnalysis
* #Gold, #Silver, & #TBonds Key Charts Video Analysis
https://superforcesignals.com/video/2017jan17gold/2017jan17gold.html
Morris Hubbartt – posted Jan 20, 2017
Super Force Precious Metals #Video #TechnicalAnalysis
** #SF60 Key Charts & Tactics Video Analysis
https://superforce60.com/video/2017jan17sf60/2017jan17sf60.html
Morris Hubbartt – posted Jan 20, 2017
Super Force Precious Metals #Video #TechnicalAnalysis
*** #SFS Key Charts & Tactics Video Analysis
https://superforcesignals.com/video/2017jan19sfs/2017jan19sfs.html
Great comments from Chris Martenson, and the cross-correlation chart is a real duzie. Good show in general, Cory.
Thanks Chartster. We are lucky to have all these guys as friends who share their time and thoughts with us.
Cory:
You put together one of your best weekend shows in this edition. Martenson, Melia, Lyons, Schmidt………excellent thoughts by some very good minds. Thanks.
Thanks Silverdollar! It’s always a blast chatting with everyone who was on this weekend’s show.
This is an older article, but I think Trump might actually “get” it.
When I know Trump ran his campaign on 1/5 of the staff that Hillary had, I look forward to a businessman instead of a politician as chief executive.
Here’s a chart I posted before SGN jumped as much as 33% during the week that just ended:
http://stockcharts.com/h-sc/ui?s=SGN.V&p=W&yr=2&mn=7&dy=22&id=p39561767328&a=499741705
It looks great but is overbought:
http://stockcharts.com/h-sc/ui?s=SGN.V&p=W&yr=5&mn=2&dy=0&id=p99396379115&a=499554392
However, if gold continues to act well, SGN is technically poised to continue much higher before pulling back meaningfully.
SGN is now my largest holding and is going to stay a “hold”. Thanks for the charts and info.
+1
Like the weekly chart, SGN daily is a picture of bull market strength:
http://stockcharts.com/h-sc/ui?s=SGN.V&p=D&yr=1&mn=3&dy=13&id=p17019728730&a=501028400
Gold was capped by a very important resistance line this week:
http://stockcharts.com/h-sc/ui?s=SGN.V&p=W&yr=5&mn=2&dy=0&id=p99396379115&a=499554392
After 8 weeks below it, gold is now above the 89 week MA:
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=3&mn=6&dy=0&id=p89877949086&a=494157486
Gold has some resistance levels to deal with and I give it just above a 50 percent chance of getting through them without pulling back much, first:
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=5&dy=22&id=p60096964081&a=496083091
Gold would have to drop below 1170 to violate the following middle speed line next week:
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=3&mn=7&dy=22&id=p76581002732&a=417338610
The Jan. 17 high came at an interesting level:
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=2&dy=0&id=p94982118727&a=495554869
Great charts as always Matthew.
Have you noticed that with Fibonacci arcs, if you change the time range, the arcs no longer intersect the price chart in the same way? I sometimes get incredible alignment of the arcs with price turning points, and then I increase the time frame to get a bigger picture view, and the alignments are lost….
Yes, I have noticed that and have wondered what John Murphy would say about it. I guess I should try asking him!
My guess is that if the arcs have useful alignments on a given time scale, they also have predictive value on that time scale. But if the time scale is changed, one needs to look for a new placement that synchronizes in that time scale…
Could be. And maybe they work best when selecting “Fill the Chart” rather than customizing the range (next to the daily/weekly/monthly selection menu).
This weekly chart looks very positive to me FWIW. Majority of indicators are just getting started. Certainly not an expert, which is why I enjoy reading these pages……Thanks for posting.
I agree; things are shaping-up nicely. Unlike last year, I think the second half will be even better than the first half.
Gold has taken back this Fibonacci fan:
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=6&mn=5&dy=0&id=p71686937663&a=408573232
I think it is a new game…….some of the manipulation from crimex……will be investigate, and some will fear jail time now………..jmho
the CFTC and CME should be looking over their shoulders……….jmho
…..investigated
OOTB:
A belief that manipulation is meaningful requires that the person doesn’t believe in supply and demand being meaningful.
Supply and demand really do matter and sentiment can pick turns sometimes to the day. A sincere belief in manipulation being significant is about as rational as a sincere belief in the tooth fairy or Santa Claus.
There are a whole flock of con men trying to convince people to drink their Kool-Aid.
You don’t have to drink it.
The subject of manipulation aside, however, financial crime is rampant, and has gone almost completely unpunished for many years.
William Black made this point forcefully, comparing the number of prosecutions in the 1980s for the S&L scandal, versus the 2008 crisis.
It would be nice to get back to some semblance of law and justice in the financial arena. Mnuchin doesn’t inspire confidence, though.
GH:
I think a lot of the reason Trump won was because of his claim to drain the swamp i Washington. Should he not pursue charges against the Clinton Crime Cartel, he is going to lose a lot of support. Some of his appointments scare hell out of me and I still maintain he will be either the best president in US history or the worst and coming after Bush and Obama, that’s a high bar to jump.
Mr. Moriarty. Trump won’t go after Obama, of course.
But he could if he wanted to, since Obama clearly paid a bribe to Iran, using funds NEVER authorized by Congress.
(I’m not talking about the release of impounded Iranian funds, but the bribe payment.)
And, we still have not seen the treaty, which was never confirmed by Congress. Calling it an agreement, does not make it other than a treaty.
Robert, your line ‘best or worst, flip a coin’ is one of my favorites–a great, succinct statement of where we’re at. I’ve shared it with a number of South Americans who have asked me with curiosity about the election results.
Hello Robert,
Thanks for the post.
I gave up on the kool aid after Jones town.
The tooth fairy was a painful experience, losing teeth, and getting short changed at the same time.
Santa Claus was the worst experience, I enjoyed putting out those cookies and milk.
Now that was really a bad case of manipulation.
Since, I no longer drink kool aid, believe in the tooth fairy or Santa, I guess I am ready for the real world…
I am totally convinced , no one knows anything, about anything…….. 🙂
OOTB:
Can I steal that line?
Or how about this one: ‘He who knows that he does NOT know is never a fool’!
🙂 …..
GDXJ has been consolidating below Fibonacci resistance for the last two weeks and looks ready to move higher:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=3&dy=0&id=p26034917840&a=471378913
Always appreciate your charts, thanks. BTW what your 2017 year end gold / silver prediction number?
Hi Alan, I don’t have a year-end target for gold but I do think it will easily reach a high between 1435 and 1525 this year.
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=5&mn=7&dy=22&id=p58012727662&a=495649167
For silver, I’d say 25 to 26, no problem.
http://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=5&mn=11&dy=22&id=p82650639829&a=501121231
Those are guesses. I have to watch the technical action along the way and will use various strength indicators to decide when to do some selling.
Thanks for highlighting that Silver resistance at $25/$26. Even if Silver gets up and bumps its head on that level, think about how that will energize the Silver mining stocks.
Thanks, Matthew, you just made my day!
Live in Toronto?
Remember Bre-X?
https://www.goldmoney.com/newsroom/news-and-blog/gold-on-the-silver-screen-twitter-contest
Excellent show Cory. Really good this week. Thanks.
Hi to everyone 🙂
A2A with Steve St. Angelo of SRSrocco Report
by Turd Ferguson, TF Metals Report:
Some brilliant stuff today from our old pal, Steve St. Angelo. If you want to unearth even more evidence that we are near the end of The Great Keynesian Experiment, listen to what Steve has to say about energy and its impact on the collapsing global economy.
To begin the conversation, we discussed two of Steve’s recent posts. Please be sure to review both:
https://srsroccoreport.com/forensic-evidence-why-silver-price-manipulation-will-end/
https://srsroccoreport.com/big-movement-ahead-in-the-silver-market-serious-trouble-in-paper-markets/
From there, the conversation turns to energy, the miners, the ongoing global supply deficit for silver and the historically high gold:silver ratio.
I am 100% confident that you will greatly enjoy this recording and it will be a very valuable use of your time.
Click HERE to Listen
pretty interesting opinion on PMs, he figures the price has little to do with supply and demand, more connected to the price of the energy to mine it.
Technically, next week tells the story of whether the PMs start to move down into February as I suspect–it’s the week to make or break the PMs for awhile
Thanks Doc. Time to keep a vigilant watch for sure.
If we get the dip down into February that you expect, I’m going to add, looking towards a March rally in that scenario. If things do make a move to the upside next week though, then I’ll just smile and enjoy the ride with the positions I have in place.
Thanks for sharing all your insights with us here on the KER. I’ve been following you for years and always enjoy getting your perspective sir.
I’m leaning toward your point of view, Doc, though I think the Dec. low is likely to hold.
I know what gold is up against right now, technically, but I still think the bulls have the edge. So I think it will manage to go higher before taking a break.
GLD daily:
http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=9&dy=13&id=p66831382194&a=501110067
I’d be happier if that is what plays out, but am prepared for either scenario.
I read Hamilton’s (Zeal) Jan 13 essay on GLD, and checked their bullion totals. After the unprecedented fall he described since the election, total bullion holdings finally ticked up, very slightly, Friday of last week and of this week.
He took the fact that GLD had not begun increasing their gold holdings as a bullish factor, but I wondered if it might not be a bearish non-confirmation.
GLD bullion holding can be downloaded as an excel file at the link on this page:
http://www.spdrgoldshares.com/usa/historical-data/
This week Hamilton wrote about the relationship between gold futures, as revealed in the Commitment of Traders report, and gold price. Does anyone know of a free source of long-term COT report data?
Thanks for pointing that out. I found the following from that article:
“So gold somehow managed to rally sharply in recent weeks without any capital inflows from American stock investors. They not only weren’t buying GLD shares, they continued to aggressively sell them as evidenced by a couple big GLD-holdings draw days so far in January. This situation is remarkable, as it implies the investment gold buying hasn’t even started yet. That means big gold buying is still coming.”
——-
I’m inclined to agree with Adam’s opinion and it doesn’t hurt that it squares with my reading of the charts.
Doc,
The charts are a conundrum right now. But I agree with you, metals and miners should head down. The daily is about to roll over, the weekly looks, weak. Gold can’t get past the 38% fib level. And the conventional markets are close to toast.
Look what happened to al the big banks last Tuesday. Those executives know something we don’t, or else the stocks would not have sold off so hard. 😳
That drop in banks caught my eye too, Chartster.
Got me watching FAZ.
Very interesting, GH. FAZ looks like it will get a nice move soon.
Doc, is that on the back of a suspected upleg in the US $? I know that may seem an obvious conclusion but just want to verify. Also when u say “awhile”, how long are you suggesting?
Ozibatla – I did get back to you with my Whiskey, Irish Whiskey, Bourbon, Scotch recommendations (for enjoying not investing). At the very bottom of Doc’s editorial from yesterday.
http://www.kereport.com/2017/01/20/trump-upcoming-market-moves-good-stocks/
Haha Robert, if he is to be viewed as worse than Bush n Obama, that is indeed a high bar to jump. I shudder to think what the outlook will be if this eventuates
I just responded in the same editorial Excelsior. Cheers!
+21 Thanks for those ideas to explore Ozibatla. Have a great weekend! 😉
Will do but being in Aus its nearly over
Here’s some impressive “reverse symmetry” (the ’11-’12 top looks a lot like the ’15-’16 low):
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=6&mn=2&dy=0&id=p68702351114&a=501128971
+1 – That is a great chart Matthew and points out the fallacy momentum traders have that the trend will just continue on forever. It is an interesting reverse symmetry on the chart as much as it is in perception and sentiment. Good stuff!
+2
Matthew/Excelsior:
Why didn’t someone tell us a rally was coming?
🙂
Should be a boon for drilling and mining in the coming decade
Congress moves to give away national lands, discounting billions in revenue
https://www.theguardian.com/environment/2017/jan/19/bureau-land-management-federal-lease
OCEANAGOLD ANNOUNCES FIRST GOLD POUR AT THE HAILE GOLD MINE IN SOUTH CAROLINA
OceanaGold Corporation (TSX/ASX: OGC)
interesting…….. thanks
Donald is not going to ruin the system. Why? Because he doesnt have the power to do so. Everyone needs to remember that whilst he is the perceived leader of the USA, he still has to answer to big business and corporations just like Obama, Bush, Clinton, Bush etc etc had to.
The more things change, the more they stay the same!
Cobalt Crunch Time,
Thanks Pete.Other than ecobalt my cobalt list is non existent and that friedland comment about supply and shorting tesla I read before in an outtake somewhere but didn’t pay proper attention to it……Ex I’m sure you already have a list of producers explorers and royalty streamers for cobalt too.care to share it???pretty please with sugar on top.😉…
Have started to research the cobalt a bit more…so far most of the companies have either dubious or unknowns running them which I hate.Fortune minerals has so far been the only one I consider worth further research…maybe Cruz but as of right now ecobalt with its weak management is still top of my very limited list
Wolfster,
I haven´t done much research on Cobalt yet.
LIC.V, CPO.V ?
Brixton metals BBB, a quality company.
“And while Brixton’s focus is on precious metals, it sees cobalt production as a potential bonus. The Langis mine produced 358,000 pounds of cobalt and Hudson Bay 185,000 pounds of cobalt.”
From the northern miner
It wasn’t long ago that I thought I would never get a chance to buy Brixton. Then it went below .20 and I jumped at the chance. I even chased it higher because not many shares were being offered (and my broker kept stopping me from buying to keep the market “orderly”).
It is still down about 68% from its July high so I was still a buyer into Friday’s weakness.
http://stockcharts.com/h-sc/ui?s=BBB.V&p=W&yr=3&mn=0&dy=2&id=p07466195913&a=495082432
A good place to start the Cobalt search,Cobalt,Ontario.
Thanks Matthew,i like Brixton.
And please try to keep the markets ordely 🙂
I’m a big fan of Brixton Metals moving into this next bull cycle, if anyone checked out those lists from the stock picking contests I posted up above, you’ll see (BBB) was my “Bonus Pick Showdown” pick for the year.
I like Brixton, not for the Cobalt, but for the fact that they have 3 prior producing Silver mines (one that they just picked up and will be fast-tracking back into production), and in addition, a Gold/Silver exploration project up in the Golden Triangle). I’ve accumulated quite a nice position in it on this most recent pullback and expect it to be a multi-bagger again this year.
I just re-read that and it wasn’t worded well, and made it seem like I wasn’t giving value to the Cobalt. Don’t get me wrong, if Brixton wants to cash in on their Cobalt along with their Silver and Gold, then that’s a huge kicker credit.
From a recent company update:
“Upon closing of the Gowganda Silver Project, Brixton will control 3 past producers of high-grade silver within the Silver-Cobalt Camp of Ontario. The Langis mine produced 10.4 Moz of silver at 25 oz/t Ag and 358,340 pounds of cobalt, the Hudson Bay mine produced 6.4 Moz of silver at 123 oz/t and Gowganda mine produced 40.7 Moz of silver at 22 oz/t Ag. The projects are generally located 500 km north of Toronto, Canada. The high-grade silver mineralization occurs as moderate-steeply-dipping veins within any of the three main rock types; Archean volcanics, Coleman Member sediments and Nipissing diabase.
The 996 SQ/KM, wholly owned Thorn Project is located in northwestern British Columbia, Canada, approximately 105 km ENE from Juneau, AK. The Thorn project hosts a district scale gold-silver trend associated with Triassic to Cretaceous volcano-plutonic complex. Many styles of mineralization have been identified related to porphyry and epithermal environments. Targets include high-grade gold-silver underground targets and large-scale open pit gold type targets.”
Excelsior,
Do you have a opinion on,
Cobalt Power Group Inc. (TSXV:CPO) – The Pure Cobalt Explorer
and LiCo Energy Metals Inc. (TSXV:LIC) – The Most Advanced
Pete – I’m not familiar with either company, but will add them to the list to check out.
Thanks,Excelsior
Over the weekend, on ceo.ca a few different investors wrote to me asking why I liked Brixton, and I’m going to share it here in this thread, (some of it may be a recap of what has already been discussed).
__________________________________________________________________________
Personally, I’m a fan of Brixton because they now have 3 prior #producing #Silver & #Cobalt #mines that are already built, mostly permitted, and understood, so this greatly de-risks the project.
This gives them a huge advantage over a typical #Exploration start-up that is drilling & praying that they find something and then have an economic deposit. The best place to get a new mine going is where past producing mines were successful. The resources are there, and often times they have not used modern exploration techniques, and the geology can be looked at again to take the deposit wider or deeper, using a systematic process.
In addition, it is far less money for build out and #development when much of the work was already completed or in place from prior commodity cycles. Lastly, if there already is a #mine in place it is far easier for the local communities and governments to grant any remaining permits, as there is already a case study of successful mining.
In addition to their prior producing mines, Brixton also has their prospective Thorn Gold/Silver #exploration property in the #GoldenTriangle that they’ve had a some nice exploration hits on.
Thorn: Exploration project with the potential to yield a major discovery.
2 Large scale #gold targets (Outlaw & Chivas) for 2017 drilling.
#Cobalt Camp: Consolidating brownfield #silver assets in a high-grade camp.
Langis: 10.4 Moz at 25 opt Ag (Past #Production).
Hudson Bay: 6.4 Moz at 123 opt Ag (Past #Production).
Gowganda: 40.7 Moz at 22 opt Ag (Past #Production).
Gowganda: 2.9 Moz Indicated Resource in #Tailings at 47.5 g/t.
______________________________________________________________________
Brixton Metals January Corporate Presentation:
http://brixtonmetals.com/cn/wp-content/uploads/2013/08/Brixton-Presentation-JAN-2017a-1.pdf
As for the management team it’s got a few prior Newmont, NovaGold, and Kinross guys, as well as Ian Ball (Rob McEwen’s protege that runs Abitibi Royalties). Rob is also a key shareholder.
http://brixtonmetals.com/meet-the-team/
I’m also very impressed with the share ownership and strategic investors:
**BBB Ownership
#Management 12%
#RobMcEwen 9%
#Institutional 7%
#USGlobal 6%
$HL #Hecla Mining 6%
Eric #Sprott 5%
$TAHO #Tahoe Resources 4%
#Retail 53%
There’s CIE on the NYSE. I don’t know much of anything about it, and can’t claim any noteworthy skills at company analysis. A few months back they had a deal that needed to go through with the, I believe, Angolan government. I don’t think it did, or their price would be higher than it is now.
Hey guys, sorry late to the Cobalt party here…..
Wolfterster – I have a handwritten list of Cobalt companies mixed together with Graphite companies that I saw as key to the battery market, but it may be a bit dated:
I tried to separate out the Cobalt Stocks:
American Manganese
Katanga Mining
First Cobalt
eCobalt Solutions
Clean Teq Holdings
Canadian International Minerals
Fortune Minerals
Conico LTD
Green Swan Capital
Cruz Capital
Remo Resources
*Also, there other Copper/PGM/Nickel companies that have exposure to Cobalt like Polymet, and Platinum Group Metals, or base metal Iron companies/precious metals companies like Brixton Metals that have significant exposure to Cobalt credits. (as Pete mentioned above).
There are also prospect generator companies with cobalt exposure but none with a focus.
Wolfterster = Wolfster 🙂
Been called worse.lol….I think the key with the cobalt search is to find North American plays….
Yes – the DRC is a challenging jurisdiction, and mining there can get a bit sketchy….
Freidland is one of the few I have any confidence in mining there with Ivanhoe, but still I believe he is building his other companies as a plan B in case things turn sour there with the government.
For BITCOIN enthusiasts:
http://etfdailynews.com/2017/01/22/the-dream-of-a-bitcoin-etf-may-never-come-true/
It’s been a while since Chris Vermeulen visited the KER for an editorial. Maybe a good idea to get him on sometime in 2017.
Latest Rick Rule:
Silver performed better last week than some think. The arrows depict a path that I think it might take:
http://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=3&mn=9&dy=11&id=p90569868485&a=501194637
Agreed Mathew.
I like the position of the signal line at the ADX cross as apposed to gold,at least short term. Silver looks good.
Noticed increasing strength in the prospect generators and streaming Co’s this week also.
Saw the move in GMX.V and was thinking about you.
Should have been GMX.TO.
GMX spin-off, CBG, has also been well-bid lately.
http://stockcharts.com/h-sc/ui?s=CBG.V&p=W&yr=2&mn=7&dy=0&id=p31121184777&a=493422566
The Dow is going to underperform the miners for a long time.
DIA:GDX:
http://stockcharts.com/h-sc/ui?s=DIA%3AGDX&p=W&yr=5&mn=5&dy=0&id=p65624452331&a=493540636
Priced in real money, the miners look very goo.
XAU:GOLD weekly:
http://stockcharts.com/h-sc/ui?s=%24XAU%3A%24GOLD&p=W&yr=8&mn=8&dy=22&id=p96573571732&a=471646105
Notice it’s potential beautiful inverse head and shoulders formation
Yes, and it’s a good sign that SIL:GOLD looks even better:
http://stockcharts.com/h-sc/ui?s=SIL%3A%24GOLD&p=W&yr=8&mn=8&dy=22&id=p98791750574
Morris Hubbart had a great technical analysis video on both Gold and the XAU that got posted up above (where he noted the inverse head and shoulder), but he didn’t cover the XAU:Gold ratio. Thanks Matthew.
I wouldn’t want to be short the miners right now.
http://stockcharts.com/h-sc/ui?s=%24GDM&p=W&yr=3&mn=11&dy=0&id=p78269567020&a=408145634
VIENNA (AP) — OPEC and key non-OPEC oil producers are near their target of taking 1.8 million barrels of crude a day off global markets less than two months after agreeing to do so in efforts to push up the price of crude, Russia’s energy minister said Sunday.
Alexander Novak’s upbeat comments to reporters came at the end of the first meeting of a joint OPEC-non-OPEC committee set up to monitor compliance to the Dec. 10 agreement.
Hi Matthew and Doc, I sold more MRK on Fri after it shot up, and am now looking at Gilead GILD and Teva TEVA. How far do you think GILD and TEVA can fall? Neither will grow for a couple of years, but that’s why their PE’s are 7. And TEVA has a 4% dividend. Thanks.
MRK and LLY will be in big trouble if Trump listens to RFK, Jr.
Hello Bonzo, TEVA has never been so oversold but I still think it could reach a speed line support that is currently about 29.80 and probably even the Fibonacci support at 28.62.
That Fib support level also happens to coincide with the 2004 high – a significant high that followed TEVA’s most persistent overbought readings on the monthly RSI(14).
But before it can reach those levels, support at the 233 month MA and EMA have to fail. They are currently 30.43 and 30.22, respectively (and rising).
It would take some very disappointing news to send it to the next support zone at 15.
Matthew, thanks very much. I’ll keep watching TEVA and GILD before I buy. I’ve never heard of a 233 month MA. And what is an EMA?
233 is a Fibonacci number and EMA is Exponential Moving Average.
I meant to look at GILD last night but got sidetracked. I think it will reach $60 and maybe even $55.
Thanks, Matthew. 233 months is about 9 1/2 years!
Movement of BITCOIN
Thanks CFS. I just pulled that up and watched Bitcoins flowing mostly into China and the US although some into Africa as well. It would be a cool screen-saver….
I wish there was an equivalent for silver or gold, so I could watch flows of PMs more easily.
That would be awesome. We’re unlikely to ever see that though, since so much is sent through the mail, armored truck, or people buy it and have 3rd party companies store it in their vaults.
I’ve been having a blast these days except for the weekend when the markets are closed, that should tell you something. DT
Here’s the schedule of the Cambridege House event. Looks like Cory is up to bat at the same time as David Morgan and Gianni Kovacevic. Looks like a fun event overall and many good companies and key note presentations.
https://cambridgehouse.com/event/54/vancouver-resource-investment-conference-2017/agenda
Joe Mazumdar Recaps His Presentation at Metals Investor Forum
01/21/2017 | Jordan Roy-Byrne CMT, MFTA | Featured, TheDailyGold Podcast
https://thedailygold.com/joe-mazumdar-recaps-presentation-metals-investor-forum/#
SGE current Fix
Gold $1224.35
Silver $18.22
Metals are up in overseas trading. Gold $1217 Silver $17.17 Platinum $981 Palladium $788
Latest SGE Fix
Gold $1230.74
Silver $18.32
LUND, Sweden , Jan 23, 2017 /PRNewswire/ —
NeuroVive Pharmaceutical AB (Nasdaq Stockholm: NVP, OTCQX: NEVPF), today announces that NeuroVive has signed a preclinical collaboration agreement with the Children’s Hospital of Philadelphia (CHOP) and Marni J. Falk , M.D., a US key opinion leader in the mitochondrial medicine field.
Dr. Falk’s research team at CHOP will evaluate compounds from NeuroVive’s research program, NVP015, in certain experimental disease models. The research team will study energy metabolism and disease development in models of mitochondrial complex I dysfunction.
America will not be great during the next four years. Trump is like Berlusconi – a populist that cares more about his own TV-performance than about the country he leads. Trump will measure his success by the level of Dow-index. Carl Ichan Will help Trump to engineer new highs.
Anders, What is your favorite Danish beer? What is the best beer from Fyn or Funen?
I can recommend a small microbrewery called abelgren http://arbrew.dk/.
My family origins from that part of DK; Langeland – an island just south of Fyn.
And do not forget ‘smørrebrød’ made by the Swedish cook from upper show 😎
Nice tip Anders from Copenhagen
Anders, I have been to Langeland in 1977. I have friends in Saerslev and Sonderso on Nordfyn.
I think you’re right, Anders–
Obama to Trump = progressive to populist ping pong
Progressive, though with out any action/ results
Socialism is the opposite of progress.
NDM just blew past IVN, on it’s way to, who knows?
IVN will beat NDM in the end 🙂
(i´m saying that because i missed the NDM missile)
IVN 3,95
3,99
4,02
Nice work Dick Tracy and Pete you Polymetallic deposit investors!
Many base metal stocks were up quite nicely on the day = cha ching!
Still waiting for the Trump crash… Trump correction… Trump market to all time highs…
Great chart……………
Matt or Doc or Ex,
it looks like K92 (TSX:KNT) could soon attack the 200 day MA. Am I right or does it need more “rest”? That would be a quick 30% move.
If gold continues higher, then I think you’ll be right. Either way, I like the look of that chart and would mind buying any dips myself. (I don’t own it.)
http://stockcharts.com/h-sc/ui?s=KNT.V&p=D&yr=0&mn=9&dy=0&id=p10509974939
Hi confused,
Yes, I believe now is the time to start acquiring (KNT) K92 mining after watching it since inception. It was far over-valued due to all the hype around the mine going back into production, but then it got hammered as geologists and newsletter writers doubted the geology as too hard to mine to be economic due to non conformity in the geology. However, after being bailed out on as a sinking ship, they’ve continued to drill, expand, and better understand their asset, and have made many tweaks that will positively affect the economics that have not received any credit by the marketplace.
Personally, I’ve been watching with great interest as the share price plummeted and wanted to see an exhaustion event. Well recently Cartesian Royalty Holdings (who had previously financed them), are selling large numbers of shares as escrow releases occur, and this is has been pressuring the shares and providing a nice liquidation event.
After stalking this company since it’s birth, I finally have started to build a position in it. There may still be 10-15% downside risk, but this could easily double or triple from here as the market sees how their production results start rolling in quarter after quarter. If the gold price rises, then all the better….
Where we are:
http://www.financialsense.com/james-puplava/inheritance