Rick comments on the “euphoria in equities markets”
The question of the potential of the longevity of the strong U.S. equities markets is on a lot of people’s minds. Here is what Rick Ackerman and Big Al think about that.
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Most people use their phones so much that they don’t even talk to one another at home, if you are in another room just send a tweet. I really don’t think they understand much beyond being disconnected and I don’t mean that as a play on the phone.
Yup DT
In calgary we have people walk in front of trains due to their “phone focus”.
I still dont even carry one. lol
Last two positions I held were 24-7, I dont like cell phones.
Bitcoin is a pseudo currency and the price is a function of the greater fool theory. In time Bitcoin will be on the shelf next to your Beanie Babies, not from a smoking home.
good one Bob……….
For me bitcoin going past gold suggests a rush after fool’s gold, whilst actual bullion equates to the pick and shovel merchants of long ago. If you want a crypto currency go for Gold Money (formerly Bitgold).
AA:
Gold Money is not a crypto currency. You deposit money, it is converted into gold, you are buying at something like 2% over spot. You have the option of loading a prepaid debit card and the conversion from the value of gold to whatever currency you have chosen for the card is made when you load it. There is nothing crypto about it. I was one of the test users, I love it and I got10 of the first 1 gram cubes. It’s the real deal.
Essentially it allows anyone to go on their own gold standard.
Thanks Bob
AA:
That’s I got ten of the ten gram cubes.
Andrew,
I have no comment other than I do it the very old fashion way and that is not Bitcoin.
Thanks for clarification Bob. You’re right GoldMoney is a totally different entity. For me it’s currently the best way for saving on a regular basis that I know. I’ve also got a few Aurun notes – more for amusement than anything.
Bob M, you couldn’t have been a gambling man when you were a fighter pilot in Vietnam. The odds of you surviving 824 missions were probably about 1000 to 1. I read Len Deighton’s book called “Fighter Pilot” and in WWII, those pilots were lucky to have lived during there first three days of aerial combat. If you lasted 100 missions and survived at the end of the war many pilots spent time in mental institutions from the stress and subsequent lack of adrenalin. I think you are a lucky person no matter what your skill set or IQ is. DT
DT:
Those were tougher wars. In Guadalcanal the fighter squadrons were in combat for no more than 6 weeks and probably lost 20% of their pilots. In my F-4 squadron we lost one crew in a year and his own ordinance shot him down.
Understanding odds is very important in combat. You can beat skill but you can never beat luck. I was very lucky. In Birddogs we lost 15% of our pilots in six months.
Heroes everyone BM.
SWEDEN BOB AL ! https://www.youtube.com/watch?v=VeWEKCCmVQY
I dont own bitcoin, but I cant say I agree.
Looks like acceptance is spreading to me.
As of yesterday here in the UK using a phone while driving means 6 points now off your driving licence plus a £200 fine which will do jack squat to deter the addicts.
A “Golden Cross for Bitcoin”!
Gary Savage says still some time to run for General Market:
Hi Al, I am going to try and visit with Cory at PDAC. DT
I dunno about crosses for bitcoin.
What I do think is young people understand the markets are criminal and gold is manipulated, rightly or wrongly. (where would those ideas come from?)(the goldbugs own fault)
I think in time the only investments in markets will be funds, pension funds?, the ones going broke from NY,Dallas to California.
Young people are going to avoid funds and markets like the plague.Especially after this next crash, it could be 20 years for things to even out.
40 years of “gold is not money” has taken its toll to the point they wont take an once for a cup of coffee.
Looks obvious to me, they will choose bitcoin, they understand it.
But thats a good thing for us goldbugs, we get to sit on piles of gold that dont really cost too much to stack. lol
Aurvista is up 18% at the moment, anyone know why?
4 million+ oz in Quebec, is causing high volume buying today!
Hey Ryan. Just saw you had posted this Mexus Update.
At least it’s having a Green Day 🙂
Slow, but steady. Great article.
I like that they are finally starting to put a little more meat on the bones as far as guidance:
“Mr. Thompson believes they are in good position for 2017, they will be mining at an extremely low cost of approximately $450 an ounce and are looking for $25 to $30 million year of revenue at 10,000 tons per day. ”
“We will be in production shortly at .7 grade mining 10,000 tons a day. We believe we can ramp it up by the end of this season to probably twenty thousand tons a day. We know we have better grades out there. We just don’t know what the average will be for sure. But we’re safe with the .7. ”
“Quite truthfully, with MarMar out front and quickly putting San Elena into production, our cost is $35,000 a month. It’s nothing. The costs of producing an ounce of gold at the San Elena will be $450 an ounce. ”
“The best property we own, the Santa Elena, 70,000 acres, with good property. We can mine there for 25 years. We have the San Felix, 26,000 acres, with seven properties there that have open pits at this time. It’s been opened up and ready to mine. It has seven million tons sitting there ready to add more material to the existing heap leach pads. The roads are in. It’s quite an opportunity for us. I believe, on top of that, we have the newest property, which is the El Scorpio, which is copper. We’ve had it for a number of years, and we’re waiting for copper to get to the right price, which I think it will. We’re finding a driller at this time. “
Epstein TA
PRC Central bank overtightened on credit……
Property bust ahead.
https://www.youtube.com/watch?v=KUVyMS2mqt0
First Black Swan coming in for touchdown.
PDAC 2017: March 5 – 8
Gold $1332.10 down -$16.90 -1.35% loss
Silver $17.69 down -$0.70 – 3.81% loss
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PDAC Curse:
😉
No curse this year. PDAC usually marks a high but looks like it is going to mark a low this year.
I hope you are correct amigo. Things did move down early prior to the PDAC this year
#ReverseTheCurse
There are articles coming out already noting the move down. I guess the key will be to see if there is continuation tomorrow into the weekly close or a bounce back into the weekly close.
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Gold, silver prices are getting clobbered
Frik Els | 4 minutes ago
This clobbering is part of the reason I think it will be done soon. We got a lot of “correcting” done quickly. That’s a good thing since quick plunges destroy hopes while grinding, slower moves lower keep hopes alive. The enemy of a bull market is widespread hope.
The XAU has already retraced 61.8% of its two-month, 35% advance and has nearly retested the 200 week MA:
http://stockcharts.com/h-sc/ui?s=%24XAU&p=W&yr=3&mn=7&dy=0&id=p76272697463&a=508474182
I’m starting to add again —-I think we have more to come but a lot of these stocks will not be hurt to badly—this is just a correction that should be bought. We’re now well in a lot of weekly trading ranges for these stocks and will be for some time. As usual I’m purchasing on the dips and will increase that since we have further to move down yet. The XAU should move down more.
Yeah, I agree Matthew. As we discussed recently, it really seems like the Inverse Head and Shoulder patter that Morris Hubbart has noted the last few weeks, and that Goldfinger had posted last week makes the most sense to me. I waiting to see what the right shoulder looks like and have trimmed a few high flyers and reallocated into others that have pulled back more steeply but our high torque, or that haven’t participated as much in this rally as their peers. Most of my positions are just in hold status at present, and they can weather the storm at a good cost basis.
Relative strength of Primero on a day like today is a good sign.
The same goes for the strength in the tiny caps. I’m down about .4% right now while GDXJ is down 6.7%.
+2
+1
Check out CRCUF today.
Nice bump up in Canarc Resource Corp
My EXK is down 22% (so far) today. What a slaughter. Yeah, if this is a shakeout, they are doing one hell of a job. I know they missed earnings today, but this is just piling on. Doesn’t seem very bullish for the whole sector to me, to see this type of reaction. oh well…
Is the Endeavour shakeout of 22% just over missing the profits? Seems a bit rough on them.
I’m underwater in AG as well. I don’t think miners will make lower lows. We will find out soon enough.
I purchased a little of EXK today and will add on further moves down. Not investment qdvice
I don’t have a position, but when I see a huge sell-off like that in EXK it is tempting.
Doc, It’s nice to know you bought EXK today. I’ve owned in for several years and will hang on. Do you own USAS?
Speaking of USAS – Americas Silver Corp – They have BIG news out today, which also probably explains there was more weakness in the shares today on a down day in many silver miners. They’ve acquired an option for 100% ownership on a property with that Santacruz was divesting to Hochschild …. so its normal for a brief dip when news like that is announced, but it is also very constructive for the longer term strategy so I’m pretty jazzed about it.
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Americas Silver Corporation Acquires Option on the San Felipe Property in Sonora, Mexico
Americas Silver Corporation (TSX: USA) (NYSE MKT: USAS)
Highlights of the Acquisition
– Adds an additional high quality silver-zinc development project in a safe, mining-friendly jurisdiction
– Potential for low capital, highly profitable silver and zinc production without shareholder dilution
– Further increases silver and zinc leverage per share
– Attractive acquisition value of 31 cents per silver equivalent ounce (99 cents/indicated resource ounce and 46 cents/inferred resource ounce)1 is highly accretive to overall asset portfolio based on the most recently published NI 43-101 technical report (described below)
– Free cash flow from San Rafael supports San Felipe advancement
* Darren Blasutti, President and Chief Executive Officer of Americas Silver, stated, “As we did when we acquired Scorpio Mining and the San Rafael project two years ago, we are taking a disciplined and highly accretive approach to our external growth strategy. The San Felipe acquisition provides our shareholders with an exciting development asset at an attractive valuation, which has the potential to add material high margin production scale that further enhances the tremendous value proposition of Americas Silver.
“While we remain highly focused on successfully executing the development of San Rafael on time and on budget, we are extremely excited to add this project to our pipeline. We believe it has the potential to drive the next leg of growth for our Company as we transition to a leading first quartile silver producer in 2018 and beyond.”
I guess the future market got hit with alot of silver….
At exactly 1130ET (as Europe closed), someone decided to unload over $2 billion notional of silver into the futures pits…
according to zerohedge.
I checked the price of phyzz around calgary, hasnt dropped a penny.
not silver or gold…maybe later.
I saw others discussing that $2 billion dollar Silver dump. Guess the investor was leaving the building gracefully…..
my share list is down 4-8%
cant wait for the doldrums. lol
calgary metals market horrible. little buying little selling. dead market.
maybe oroville will kick us into renewal… bix weir has funny idea about the oroville being a giant sluice box…
STRANGE…..Just been over at Silverseek. The US dollar silver chart , the Canadian chart, the Euro chart, & the Rupee chart….look like Quads…..Weird.
War and Fraud rule the WORLD ( Don’t sell GOLD and SILVER !!! BUY BUY BUY ! COOL is the WAY !!!!!!!https://www.youtube.com/watch?v=qfMARbmjVXo
Special Report: Digging Deep Into Metals & Minerals
March 2, 2017 – SCOTIABANK COMMODITY PRICE INDEX
http://www.gbm.scotiabank.com/scpt/gbm/scotiaeconomics63/SCPI_2017-03-02.pdf
3 Month Bar Chart for some key #Uranium #Producers and #Developers
$CCJ $ARVCF $PALAF $UUUU $URG $DNN $UEC $URRE $WSTRF $ARY
3 Month Bar Chart for some key #Uranium #Explorers
$UEX $FCU $NXE $CVV $AL $PLU $AZZ $SYH $BKY.L $GXU
Rick A. GDX call of 21.90 was breached today, Big Al ask Rick what this means, Thank you
Going to sell my Inverse Russell 2000 2x ETF symbol TWM up 2.17% from where I got in yesterday.
Going to buy the Russell 2000 2x long symbol UWM at the close.
The gold ETF GDXJ is down over 7% and GDX is down over 4%. Even the Silver ETF SLV is down 3.4%. Going to wait on buying GDX here at the close and see what happens tomorrow. Need another day to confirm the direction. The entire sector today is getting hit hard again.
Crazy silver market………….
What you expext you in GOLD and SILVER ! Buckle UP ! https://www.youtube.com/watch?v=qiPgjZogz6g
Ever get “The Look”? I suggested to my wife that we spend our vacation money on more silver. won’t do that again….
I got “The Look” just for trading Silver Stocks on vacation….. That was pushing it, but the wine and amazing seafood and sunsets helped even out equation……
The wife wants to buy more………my daughter bought phyz today…….
Never tell a woman what to do………
Agreed. Happy wife happy life…..
You can plant seeds so that over time it becomes their idea though….. 😮
would that be one of those “seedy looks”
More like somewhere between “Salt of the Earth” and “6 feet under the Earth”…..
Nah, normally the looks are grounded….. in her metal…. Platinum. I asked her the other day why couldn’t she have had a metal like Copper or Silver…… then at least she smiled and knew I was working hard to find more Platinum (haha!)
Try some Tiffany silver……..works every time…….. 🙂
duly noted.
The ONLY WAY ! BUY and ! https://www.youtube.com/watch?v=YNxQTue2ilQ
BTW…….gator, glad to hear from you………
Snapchat IPO launched today symbol SNAP. 215 million shares traded on it’s first day.
Personally I don’t see how this company can be worth 24 billion when it’s just a piece of software for you phone that allows a person to make exegerated facial gestures. The two co-founders cashed out over a quater of a billion dollars each. Not bad for a days work:)
DUDE! This whole market is a SCAM so shut the you know what up and put some $ down and take some profits like the rest of us! I made 105% return on Bitcoin this year via BITCF. Company is a total SCAM but I netted $969 after commission but before paying my 20% long cap gains. Do the math. That is a net of like 60% on a total scam.
A bit harsh, but I believe that was the point Rick Ackerman was making about Uber being basically a scam at it’s current market valuation to employee ratio and what they actually do shouldn’t have a valuation at those insane levels.
There are a lot of hyped up IPOs on many wacky social media stocks, biotech stocks, video game stocks, pot stocks, and really every sector (definitely including resource stocks) have scam companies that can be traded, but it would be unwise for investors not comfortable with short-duration trading to ever go after something like that as it is VERY RISKY.
I try to only focus on trading companies I believe to be legitimate and have a future because I want to have the option of longer term exposure and building longer term core positions in quality companies. There are so many, why not try to find the real emerging stories and opportunities?
I ENJOYED TAKING THE GOLD AND SILVER BUG’S MONEY TODAY! Profits today 2.6% net on SLV, 3% net on DSLV, 10% net on DUST, and a 6.92% MONTHLY divie payment on SPFF. SLV is for my FOUR year old’s RETIREMENT fund and so is SPFF (we split the takings). Mini Me is going to be retired by the time he is 45. This working until you drop dead thing is bravo sierra!
Way to go daddy-o.
Yo Ex! These Tripple X, lol, I mean 3X funds are more addictive than I don’t know what! Get in here and make some bank with me!
I trade the 3x ETFs sometimes, but they take a lot of watching on the lessor charts.
They are like trading for extreme sports enthusiasts….. Haha!
Right now I really stocked up on stocks and have been doing some rebalancing, so I’m busy actively managing my own Excelsior ETFs ….. Ever Upward!
I miss the trading action when NDM was pumped, it reminded me of the Nasdaq technology craze twenty years ago. Being a contrarian is the best bet but I like the flyers. DT
Are there any 4x quadruple long stock market ETFs? My co-worker’s friend’s brother-in-law says that stocks can only keep going up.
Funny. What is sad is that I’m sure there are many that do honestly believe that stocks only go up.
Bitcoin Reaches Parity With Gold
For the first time ever (based on Bloomberg data), Bitcoin is trading at parity with an ounce of gold.
Hmmm, sorta makes me feel gold is old, sorta passe, and bitcoin is the future.
Im betting young people, the people that do pretty much everything with their phones, prefer bitcoin to gold.
25k bitcoin?