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Gold stocks from a technical standpoint

Cory
February 28, 2017

Today with Doc we take another look at gold stocks but more from a technical standpoint. The recent slight rollover in gold stocks of late has us looking at some support levels that investors should be watching for their stocks. While this market continues to look strong for the long term there are some short term concerns that we share.

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Discussion
22 Comments
    CFS
    Feb 28, 2017 28:12 PM

    BMO Capital Markets has been advising companies on the mining industry for more than a century. Global Finance Magazine recently recognised BMO Capital Markets as the best investment bank for metals and mining in the world for the eight consecutive year.

    Some of the companies scheduled to present at the conference include:

    Agnico-Eagle Mines (AEM)
    Agrium Inc. (AGU)
    Alcoa (AA)
    Anglo American (AAL)
    Antofagasta (ANTO)
    Barrick Gold (ABX)
    BHP Billiton (BLT)
    Cameco (CCO)
    First Quantum Minerals (FM)
    Franco-Nevada (FNV)
    Freeport-McMoRan Copper & Gold (FCX)
    Gemfields (GEM)
    Glencore (GLEN)
    Goldcorp (GG)
    HudBay Minerals (HBM)
    Ivanhoe (IVN)
    Lundin Mining (LUN)
    Mosaic (MOS)
    Newmont Mining (NEM)
    Nucor (NUE)
    Petra Diamonds (PDL)
    PotashCorp (POT)
    Randgold Resources (RRS)
    Rio Tinto (RIO)
    Silver Wheaton (SLW)
    Steel Dynamics (STLD)
    Teck Resources (TECK)
    The three-day event is hosted by the BMO Capital Markets’ Metals & Mining Equity Research team. With dedicated metals and mining analysts in Toronto, London, and New York, BMO covers more than 135 publicly-listed companies, making it one of the largest mining and fertilizer research groups in the world.

    Feb 28, 2017 28:17 PM

    $MXSG Mexus Gold up nicely today on the update regarding their ore being loaded on the Heap Leach. First Gold will be produced next month in early March. Let the good times roll….

    $0.1299 up +$0.0146 (12.66% Gain)

    http://www.globenewswire.com/news-release/2017/02/27/927820/0/en/Heap-leach-pad-complete-and-systems-being-tested-at-Mexus-Santa-Elena-mine.html

      Feb 28, 2017 28:04 PM

      I’ve been away for awhile, Excelsior, hope you are well. Getting exciting again with Mexus, buddy. Ready to make history.

        Feb 28, 2017 28:10 PM

        Yes sir. Next month time to pour Gold & Silver. Mexus has been waiting for this news, it just took a little longer than expected…. Cheers!

    Feb 28, 2017 28:01 PM

    Is March About To Be A Boring Month?
    Feb. 27, 2017

    http://seekingalpha.com/article/4050010-march-boring-month?ifp=0

      Feb 28, 2017 28:46 PM

      Clif HPH sees degradation coming imminently.

        Feb 28, 2017 28:52 PM

        It’s gonna be a really big show…..

        Feb 28, 2017 28:08 PM

        Yes folks, I do have 3 bitcoin for a year now

          Feb 28, 2017 28:12 PM

          It does seem like Bitcoin, Crypto-currencies, and blockchain payment types are gaining ground again. (especially in emerging market countries where they fear their currencies are losing more purchasing power).

            Feb 28, 2017 28:12 PM

            Hi Shad:
            The date to watch is March 11th.
            The SEC will make a call one way or the other,if they will approve the Winklevoss Twins Bitcoin ETF (COIN).

            Feb 28, 2017 28:52 PM

            Interesting…. I hadn’t heard about the Bitcoin ETF yet. (COIN) is pretty catchy.

            Thanks JohnK.

    Feb 28, 2017 28:09 PM

    Platinum Group Metals (PLG) (PTM) ‘Ramps Up’ In 2017
    Feb. 28, 2017

    Summary:

    “The Maseve mine was commissioned in 2016 and is now in ramp-up phase, what does that mean for investors?

    The Waterberg project could be a low production cost, high volume Palladium mine on the Northern Limb, with potential for comparatively low cost development.

    2017 is a year of growth for PLG, which against a difficult 2016 should be reflected in an improving share price.”

    http://seekingalpha.com/article/4050297-platinum-group-metals-ramps-up-2017?auth_param=c9otd:1cbagff:387c6948bb414aef8c78288fa7d01b81&uprof=45

    Feb 28, 2017 28:12 PM

    Had a couple sell orders in today…………, until I heard the discussions with Kaplan and Doc and read Matthew’s posts. Luckily I had time to pull both of them. Could have banked some profits but I firmly believe there are better ones in the not too distant future. Thanks guys.

    Feb 28, 2017 28:31 PM

    Gold for the Close of February – 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.

    https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/gold-for-the-close-of-february/

    Feb 28, 2017 28:47 PM

    SPY closed below the 5 day MA for the first time in a month and looks ready for a break:

    http://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=5&dy=13&id=p74751088332&a=440566565

    Feb 28, 2017 28:53 PM

    Looks like Doc is right!!

    Feb 28, 2017 28:11 PM
    Mar 01, 2017 01:25 AM

    Hi All, Hi Doc! First time post, but listened for years. Met Cory once at the San Fran show. Doc is one of my favorite guests for sure!

    Doc, curious if you can give us a hint of at least one of the stocks you’re following that you mention haven’t really surged up in the last year that you are nibbling on at these levels. 🙂

    Also do you or anyone else follow Anfield Resources (ARY.V), thanks!

      Mar 01, 2017 01:02 AM

      Hey KS great to have you on the blog! Thanks for your comment. I will be chatting to Doc shortly so I’ll see if he wants to share of the stocks he is invested in that have done very well.

      Mar 01, 2017 01:23 AM

      Welcome aboard KetoSpeculator!

      I do have a small position going in Anfield Resources and feel it is very undervalued compared to it’s peers in the Uranium space, as a development company going into production in the near future. It has been flying under the radar lately, but that will change as they ramp up into production.

      Wishing you good trading.

        Mar 01, 2017 01:30 PM

        Thanks Excelsior, thanks Cory! Will be checking out Anfield some more!

    Mar 01, 2017 01:21 AM

    Weighing back in here…Can’t stand gold bug sales men its the end of the world crap.
    Hoyes got the right idea…about 10:30 in
    http://www.howestreet.com/2017/02/24/minor-pull-back-from-record-equity-highs/
    Looking at fundamental’s is a waist of time. When the fundamentals show up its ALREADY priced into the market. Thats when the shepple begin to arrive…Good luck with that…..