Boring markets but will Trump’s speech tonight make a difference
In today’s market wrap Al joins me to discuss the upcoming speech by Trump to congress. Along with the political comments I touch on some of the confidence data that was released today as well as comments out of Fed presidents that are hinting more at a March rate hike.
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Latest Ron Paul:
POTUS earlier:
on EPA executive order:
https://www.youtube.com/watch?v=dgbhcJwdvCg
Epstein’s Metal TA:
Financial TA:
https://www.youtube.com/watch?v=DzC6b0dhGLU
What part of broke does the Government not understand?
Laura Ingraham on Trump and Obamacare:
My guess, gold takes a breather here for awhile. Particularly as it has hovered near multi month highs for several trading days. Profits being booked makes sense in the interim. Plus who knows what Trump will state in his speech. It is clear, markets are becoming increasingly sensitive to such jargon.
Could be totally wrong too. It just seems logical is all
Gold for the Close of February – Armstrong
Posted Feb 28, 2017 by Martin Armstrong
QUESTION: Marty, you said towards the end of the bear market in gold, it will start to align with the stock market. Are we approaching that period since this has been gold and stocks both rising opposite of what the goldbugs have been forecasting?
LWR
ANSWER: Yes. We are running out of time for the downside in gold. This does not say we are breaking out right now. In fact, the next Benchmark was the February 27th, which we published in the 2016 Gold Report. We would need to close February above 1306 to imply that a breakout is unfolding and a closing below 1255 today will still be bearish. Gold is moving into a tight range where technical resistance stands at 1286 area and support at 1230.
The rise in gold is unfolding despite the rise and expected rise in interest rates. Likewise, gold has been rising with the US share market. This is part of the tangible asset rally as capital begins to drift away from public sector debt. A collapse in confidence means ALL tangible assets rise – not just gold.
However, we are still basing. The rally does not yet appear to be sustainable. A closing today below 1255 after trading above that right on the Benchmark day no less, warns that we are preparing to change trend, but it is just not right now. Let’s see the closing for February.
Why It’s Cheaper To Drill Ounces Than To Buy: Keith Neumeyer
Feb 28, 2017
Guest(s): Keith Neumeyer CEO, First Majestic
“Gold is under investor radars, but silver has really stolen the show, up 15% since the start of the year. To First Majestic Silver CEO Keith Neumeyer, this latest silver rally is overdue. He also comments on the latest company results and the future plans for his other venture, First Mining Finance Corp.”
Goldcorp CEO Isn’t Worried About Rising Rates
Feb 28, 2017
Guest(s): David Garofalo CEO, Goldcorp
“Gold investors are concerned over rising interest rates, but Goldcorp CEO David Garofalo doesn’t seem to worried. ‘I don’t think anybody believes that we’re in an environment where interest rates are going to go up appreciably any time soon, the economic recovery globally is far too fragile,’ he told Kitco News on the sidelines of the BMO Metals & Mining Conference. ‘At the end of the day, real interest rates, given that inflation is starting to pick up, are still going to be appreciably in negative territory.’
Agnico-Eagle Ready To Spend Billions Up North – CEO
Feb 27, 2017
Guest(s): Sean Boyd CEO, Agnico Eagle
“Kitco News kicks off coverage of the BMO Global Metals & Mining conference with Agnico-Eagle’s CEO Sean Boyd, who says he’s prepared to spend $1.2 billion in Nunavut, Canada.”
I loved the question about Agnico potentially acquiring Sabina Gold & Silver. Nice.
Given the Company’s 2016 results, (P) (PPP) Primero has undertaken the following actions to streamline its organization and improve shareholder value.
Organizational Change Highlights:
> San Dimas Operations Re-Set to Reduce Complexity and Increase Profitability: Primero is working to reduce the complexity and scale of San Dimas operations in 2017. This is expected to result in significant decreases to the San Dimas workforce and other overhead costs which will enable the return to profitability and long-term sustainability of the mine.
> Black Fox Must Deliver Positive Cash Flow in 2017: The 2017 Black Fox mine plan shows improved grades, which would result in positive cash flows at current gold prices. Management will closely monitor the short-term operating results and cash flow to ensure the Black Fox mine delivers as planned, and will take necessary corrective actions if required.
> Reduced General and Administrative Costs: Primero has initiated actions to significantly reduce its general and administrative (“G&A”) costs in 2017. The Company has reduced its corporate office head-count by 30%, and will be downsizing its corporate office space and reducing directors’ expenses.
> Strategic Review Process Underway: The Company’s Board of Directors has commenced a strategic review process to explore alternatives to improve shareholder value. The alternatives could include such things as strategic investments, joint ventures or asset sales.
“We are taking the decisive action necessary in order to address the challenges currently faced by our Company,” said Joseph F. Conway, Interim President and Chief Executive Officer. “Securing the three year term debt facility with Sprott is a critical part of that. The priority now is to bring our Company back to profitability by reducing complexity, improving planning and delivering positive operating results at both of our mines. This has been a difficult period for the Company and for our shareholders. I am personally committed to leading Primero until we have returned the Company to profitability and financial stability.”
Santacruz Silver Amends San Felipe Agreement with Hochschild
February 28, 2017
http://www.santacruzsilver.com/s/news_releases.asp?ReportID=780269
4 Types of Investors: I, S, G and SPJ – which one are you?
The Next Big Rush
Feb 28, 2017
In the investing world, there are really 4 types of stock market investors.
1) Type I: Investors / Insiders – They fund the public companies with big checks and get warrants due to the increased risk.
2) Type S: Retail investors / speculators
3) Type G: General investors who are not dedicated to resource stocks, but become interested when times are good.
4) Type Six-Pack-Joe: That brother-in-law who is clueless about investing in general, let alone investing in mining stocks.
https://www.youtube.com/watch?v=Jg5WHQweckg&feature=youtu.be
Xop might be leaving the station this week with a new big move up if oil can get past 55 sometime this week.
Trump is going to tweeter the market up……….