Daily Market Wrap – Tue 18 Apr, 2017

Discrepancies in today’s moves for US equities and the gold sector

Doc is with me to help wrap u the markets and we are discussing the discrepancies in today’s moves. From US stocks and the VIX to gold, the USD and gold stocks there is a lot of cover as to what it could mean.

Click download link to listen on this device: Download Show


Featuring:
Richard PostmaCory Fleck

Comments:
  1. On April 18, 2017 at 2:50 pm,
    CFS says:

    Metals Wrap Epstein:
    https://youtu.be/8c6A-p8xNYU?t=33

  2. On April 18, 2017 at 3:07 pm,
    Silverdollar says:

    I think geo-political events have those that think, wondering. Personally, I was surprised that gold was up today, in spite of what the dollar did. Many are perhaps simply waiting on the sidelines, until markets and gold reveal next direction. What will create those directions, I haven’t the faintest idea, kinda like most others!

    • On April 19, 2017 at 8:18 am,
      Cory says:

      I think you are spot on there SD. Today we are seeing a small pullback but again it is still in limbo.

  3. On April 18, 2017 at 3:29 pm,
    Excelsior says:

    ‘I Don’t Think Now Is A Bad Time To Buy Gold’ – George Milling-Stanley
    Neils Christensen – Tuesday April 18, 2017

    http://www.kitco.com/news/2017-04-18/-I-don-t-think-Now-Is-A-Bad-Time-To-Buy-Gold-George-Milling-Stanley.html

  4. On April 18, 2017 at 3:57 pm,
    Excelsior says:

    I’ve followed the progress at (PTM) (PLG) Platinum Group Metals for a long time, because their 2 #Platinum #Palladium projects have had such potential, and yet I continually grow more and more disappointed with the management team and dilution machine of this company.

    It is appalling that every few months they keep raising more funds (due to their lack of mining competencies, setbacks, and incorrect guidance). They’ve diluted the snot out of their longer term shareholders, and every time you think it is safe to get back in the water they dilute things further. What a bummer….

    This company is at the make it or break it point and this editorial seems to hit the mark well.
    ____________________________________________

    (PTM) (PLG) Platinum Group Metals – A Clueless Management Running Out Of Excuses?
    Apr. 18, 2017 – Fun Trading

    https://seekingalpha.com/article/4063107-platinum-group-metals-clueless-management-running-excuses?auth_param=c9otd:1cfcjam:c4122c84c31441eafb6605b571cd5344&uprof=45

    • On April 18, 2017 at 3:58 pm,
      Excelsior says:

      Platinum Group Metals in $20M bought deal financing at $1.30/share
      Apr. 18, 2017

      https://seekingalpha.com/news/3257749-platinum-group-metals-20m-bought-deal-financing-1_30-share

      _________________________________________________________________

      Platinum Group Metals Ltd. (PLG) NYSE MKT –

      > $1.47 -$0.06 (-3.92% loss) At close: 4:01PM EDT

      > $1.30 -$0.17 (-11.56% loss) After hours: 6:27PM EDT (matches $1.30/share bought deal now)

    • On April 19, 2017 at 4:44 am,
      OOTB Jerry says:

      When management is the problem…………MOVE ON…….better deal await……Uncle Wally

      • On April 19, 2017 at 6:45 am,
        Excelsior says:

        That’s good advice from Uncle Wally….

        • On April 19, 2017 at 6:46 am,
          Excelsior says:

          What they need to do is blow out the management and put in some competent folks, and/or bring in a larger experienced operator to salvage the Maseve mine, and develop/build out the Waterberg mine.

  5. On April 18, 2017 at 4:10 pm,
    CFS says:

    We have to face the truth, Ex, many PM companies (if not most) are run just to provide employment for its management.

    • On April 18, 2017 at 8:35 pm,
      Excelsior says:

      CFS – Absolutely, I get that. It is just a shame that this management team has taken one of the bright spots in the Platinum / Palladium space and 2 different Tier 1 assets, and completely train-wrecked the value for investors that have stuck with them.

      Personally, I’ve traded in and out of this stock for years now, and have had some very nice trades (like in early 2016) but I’m really underwater on this one at present and every time I think they’ve got the money needed to at least get their 1st Maseve mine going, they do really dumb things and need to come back for more funds to bail out their bad decisions. (this is the importance of having a good management team).

      Now the team at PLG is getting dangerously close to pissing off everyone that has stood by them, including Sprott, and they may need to sell partial ownership of these assets or one of the two assets to survive which is a damn shame. They could have really got up and running in a big way before Ivanhoe and had a dramatic turnaround for the PGM sector, and instead they are becoming a paper monster.

      To be clear, I haven’t given up on them completely as their Waterberg assets in the Northern Limb could be industry changing, but still there is ton of debt to mop up in short order, and their initial production at Maseve has been underwhelming based on their models and guidance.

      Mining is such a crazy business.

      • On April 19, 2017 at 4:46 am,
        OOTB Jerry says:

        Manage your own….owed account….physical gold never ask for a lunch break…..Uncle Wally

        • On April 19, 2017 at 6:49 am,
          Excelsior says:

          Physical Gold doesn’t ask for a lunch break, but that is because it sits around all day and doesn’t get hungry. Miners are whiners, and need that lunch, but sometimes when they are hungry they move a company to great heights, surpassing the gains of the yellow metal (or in this case the noble metals).

          • On April 19, 2017 at 6:50 am,
            Excelsior says:

            BTW – thanks for the wisdom from Uncle Wally.

      • On April 19, 2017 at 6:15 am,
        Marty says:

        Mining managements are so egotistical and

        uncooperative. There aren’t many Ross Beattys & Quartermains remaining. There’s interventionist wayfare going on day by day when necessary by the CABAL, AND NO MORE RULE OF LAW IN THE USA

        • On April 19, 2017 at 6:53 am,
          Excelsior says:

          No there aren’t many A+ teams out there. Normally I’m fine with a B or B+ team taking a project into development or production (as long as they bring in a team and board that DOES have the experience). That is what eventually creates the new A teams anyway.

          However, with (PLG) They are turning into a C- to D+ team and risk becoming an F team over the next 12 months if they don’t adjust course and quit destroying the value in their 2 great projects through bad calls, inexperience, and poor guidance or evaluation of what is possible.

  6. On April 18, 2017 at 4:53 pm,
    Tim says:

    Does anybody have any opinions on why Adamera Minerals has gone from $.08 to $.16 in the last 3 weeks?

    • On April 19, 2017 at 8:20 am,
      Cory says:

      Hey Tim, I have been following the moves in Adamera’s stock as well. They did just get a drilling permit and I know a number of newsletter writers that are excited about the project but a double in the last month on high volume is interesting. I have a meeting set up with the CEO later this afternoon. I might bring him on the show if I can find out anything. I am a shareholder so overall I am very happy about it 🙂

  7. On April 18, 2017 at 5:35 pm,
    Markedtofuture says:

    There may be an exception. Do your own DD.

    HRA’s Next Break­Out Gold Stock. Don’t Wait to Act on This

    @HRA-Coffin just dropped the MOAP – Mother of All #Promotions for $ADZ http://cdn.ceo.ca/1cfc693-ADZ.pdf

  8. On April 18, 2017 at 6:40 pm,
    CFS says:

    Trump and Chinese trade: A different take.

    https://www.youtube.com/watch?v=K_yvYE8aE-w

  9. On April 18, 2017 at 6:42 pm,
    CFS says:

    Rick Ackerman on HoweStreetRadio: On Bonds.

    https://www.youtube.com/watch?v=O1g3zMFV3tU

  10. On April 18, 2017 at 7:04 pm,
    CFS says:

    Sarcasm on…..
    We all know the US never lies or makes a mistake.
    http://circa.com/politics/retired-air-force-captain-says-attack-on-extortion-17-could-have-been-prevented

    Her account is corroborated by a previously top-secret report by the Defense Department inspector general that includes interviews with some of Marquez’s colleagues on the gunship, including the commander.

    “If we would’ve been allowed to engage that night, we would’ve taken out those two men immediately. I mean, it’s just one of those things where you know that it could’ve all been prevented,” she said, tearing up at times as she recollected that night.

    Stupid Rules of Engagement: Result….. 38 US killed.

    No Night or surprise searches.
    Afghan nationals must be warned before a search.

    If an enemy combatant is placing an IED, the US cannot shoot if he is walking away.
    If an enemy combatant has a rifle pointed at a US soldier he cannot be shot until he actually opens fire.

    Obama insanity!!!! Obama the Traitor.

    • On April 19, 2017 at 6:18 am,
      Marty says:

      Obama – spirit of Antichrist and maybe the………

  11. On April 18, 2017 at 7:09 pm,
    CFS says:

    Nigel Farage talking about the snap election:

    https://www.youtube.com/watch?v=MHZAnKsqvWY

  12. On April 18, 2017 at 8:04 pm,
    Markedtofuture says:

    Ron Paul’s IMF Question Emerges in Sharp Relief In the Era of Trump

    If the International Monetary Fund does nothing else at its meeting that starts Thursday in Washington, it would be nice to see it — or someone — answer the Ron Paul question: Why do its articles of agreement actually prohibit members from linking their currencies to gold?

    To those who didn’t know the IMF prohibits member countries from linking their currencies to the classic measure of monetary value, no need to feel abashed. One of the savviest envoys America ever sent to the IMF just told us that he himself was nonplussed to discover that fact.

    http://www.nysun.com/editorials/ron-pauls-imf-question-emerges-in-sharp-relief/89956/

  13. On April 18, 2017 at 8:30 pm,
    Ozibatla says:

    The dollar down considerably on the days trading, yet silver is also down a fair amount. Is it because silver overshot on friday and monday or because punters are just genuinely unsure which way geopolitics will swing currently?

    • On April 18, 2017 at 8:40 pm,
      Excelsior says:

      That’s the same question I had Ozibatla. I believe there is a real mess in many mining stocks over this GDXJ rebalancing and selling of many widely followed names, and then people extrapolate that out that the miners aren’t following the move up in the metals. Of course, geopolitics (from Syria, to China, to Brexit, to Euroland nonsense) is swirling around causing odd moves in the general markets, currencies, bonds and PMs.

      This is perfect time to block out the noise and redirect focus on technical analysis to cut through all the BS. I’ve been side-tracked lately in some of the micro-cap Gold jrs, Uranium stocks and Lithium stocks rebalancing, but I’m ready to start putting my focus on Silver and the Silver miners for the balance of this week to see what in the world is up.

      • On April 18, 2017 at 8:45 pm,
        Excelsior says:

        More than anything, most of the Silver miners I follow have been more or less flat. Some of the bigger names are slightly down, some of the smaller names are slightly up, and many haven’t hardly budged.

        There is going to be some pent up tension building in the Silver space, if the Gold miners finally get the memo that Gold is up at one of it’s highest points this year, and play catchup. If that happens Silver miners may really kick it in.

        However, if Gold struggles to break through the psychological $1300-$1310 area, and pulls back then it may just drag everything down into the Sell in May and go away and June/July Summer Doldrums. Again, I’d like a nice rally here with these higher prices first before getting that pullback, but it is starting to look like that may not happen.

        • On April 18, 2017 at 8:51 pm,
          Excelsior says:

          Having said all that…. Gold at $1286 and Silver at $18.20 isn’t anything to cry in one’s beer over.

          These are the levels that seemed reasonable to hit in the 1st quarter to me, but they kind of tricked into the 2nd quarter. What has surprised me was that I expected the miners to be outperforming the metals in a big way, and they’ve just acted very muted to bearish for this whole move (which hasn’t made me feel warm and fuzzy).

          Still, one bright spot is that when the 1st & 2nd Quarter numbers come in for the producers, these higher metals prices (in Gold & Silver…. and Zinc & Lead) should have helped out on costs, margins, and revenues. That may keep things more even keeled as those releases come out even if the metals pull back.

          • On April 18, 2017 at 8:52 pm,
            Excelsior says:

            tricked = trickled

          • On April 19, 2017 at 12:39 am,
            Tad says:

            I’m with you on that Ex. It seems the silver stocks have ground to a halt.
            The underperformance of the mining shares at these underlying metals prices is just plain weird. I’m not sure about the elastic band effect happening, but I’ll give it a couple of more weeks.
            Then I think I’m going to halve my positions in everything and wait to get back in at the end of the summer.
            We could have a big move down for the main-markets coming soon (I have been fruitlessly waiting for that for 3 years though…). I’m not entirely sure what PM mining stocks will do at that point; probably go down with everything else …. Just for a shorter period of time.
            Cash could be the best place to be in a month.
            Also, I still have a sneaking suspicion that we could see sub $1,200 gold one last time this year.

          • On April 19, 2017 at 6:59 am,
            Excelsior says:

            Good thoughts Tad. I’m not sure of the elastic band happening either, but when I read over that Palisade Research piece it was a bit different so it seemed worth posting another vantage point.

            Like you, I’m far more comfortable with the miners leading the charge, and since they haven’t participated with elevated metals prices, then I’m slightly concerned of what may happen when the metals roll over or if the general markets do correct.

            It may be a time to raise a little more cash, and that was actually my strategy, but I planned on trimming the miners on the rally from rising metals….. but that never came. Now I’m debating trimming them back when some are only slightly up, some are flat, and some are actually slightly underwater. That’s not the idea situation to trim, unless much lower levels are coming.

            Murky waters for sure….. It’s been challenging to get a tradable trend going, so it may be the best policy just to move to the sidelines for a little while. Giving it this week for the miners to show me something, or I may just move things into dry powder.

          • On April 19, 2017 at 8:22 am,
            Cory says:

            Very good comments Tad and Ex! I share the same thoughts on the mining equities.

        • On April 19, 2017 at 6:22 am,
          Marty says:

          EX, Really should have gotten a sustaining pop out of Golden Arrow, to no avail. Some great audio releases by both SSRI & G.Arrow

          • On April 19, 2017 at 7:01 am,
            Excelsior says:

            I agree Marty. The deal is great and the JV is great, but Golden Arrow and Silver Standard have been muted, but then again, so have most of the miners. There was the initial 1-2 day pop on the news, but then everything has been treading water.

            If we were in an impulsive leg up to take out the high from 2016 then Golden Arrow would have spiked much higher on this news. Sign of the current times….

          • On April 19, 2017 at 7:04 am,
            Excelsior says:

            It’s the same with Primero. There was the initial 1 day pop when they put their San Dimas mine back into production and resolved the strike, but now even that has faded. In a more bullish metals market the enthusiasm and momentum would have built on it itself for a few days on news like this breaking.

            I’ve noticed a number of companies putting out releases on better costs, earnings, or production, and those have also fell on deaf ears lately. Those are not the kind of reactions that are good for the miners as a collective sector. I prefer the irrational exuberance periods of time 🙂

  14. On April 18, 2017 at 9:10 pm,
    Excelsior says:

    I’m posted this on the Rick Ackerman editorial, but wanted to post it again, as there are a number of interesting reviews of JR miners once you get past the first few macro pages. Very well done.

    ___________________________________________________________________

    @Haywood Q1 Junior Exploration Report is live

    $ANTL $AU $AUG $CXB $CDB $IDM $KEN $MQR $NHK $PLU $PGM $PUT $XR $REG $RUP $VTT

    https://clients.haywood.com/uploadfiles/secured_reports/JrXApr182017.pdf

    • On April 19, 2017 at 6:24 am,
      Marty says:

      Ex, thanks for your presence here

      • On April 19, 2017 at 6:55 am,
        OOTB Jerry says:

        ditto

      • On April 19, 2017 at 7:06 am,
        Excelsior says:

        Thanks Marty. Just interested in sharing ideas in the resource space.

        Thanks OOTB as well.

        I feel the very same about both of you and always enjoy both of your posts as well.

        Cheers.

    • On April 19, 2017 at 8:26 am,
      Cory says:

      WE all seem to really appreciate you keeping us up to date Ex!! If we ever get to met up the beers are on me 🙂

  15. On April 18, 2017 at 9:18 pm,
    CFS says:

    Meanwhile at the whitehouse…..

    https://www.youtube.com/watch?v=suz-Y5n-1Fc

    Must watch.

    • On April 18, 2017 at 10:26 pm,
      GH says:

      Not surprising. Just like Neocons can back HRC, ‘liberal’ Soros can be buddy buddy with the Trump crowd. They all have another agenda, which includes polarizing the public and playing sides against each other.

    • On April 19, 2017 at 4:54 am,
      OOTB Jerry says:

      NEVER ENDING………Trump knows exactly who he has hired. Good interview in FRONT OF THE TREASURY what a scam.

      • On April 19, 2017 at 4:56 am,
        OOTB Jerry says:

        Good info on McMASTERS, Four Star General of TaKe

        • On April 19, 2017 at 4:59 am,
          OOTB Jerry says:

          We need a strong military blah, blah blah …says Trump. Keys to the treasury for all the insiders more like it.

  16. On April 18, 2017 at 11:38 pm,
    Excelsior says:

    Crossfire Interview with Marin Katusa & Billionaire Frank Giustra
    Katusa Research

    https://www.youtube.com/watch?v=CvMW9n-1rXA&feature=youtu.be

    • On April 19, 2017 at 3:59 am,
      OOTB Jerry says:

      Frank The Guy-Used tra……clinton, Haiti, Russia……could you have him answer some questions on how he became a billionaire……..

      • On April 19, 2017 at 7:11 am,
        Excelsior says:

        That was actually a pretty good interview between Marin and Frank G.

        He did mention his ties to the Clintons, and why he sold his Northern Dynasty (before it took the big move up) so that there wouldn’t be any confusion of his political ties versus business ties. I’d didn’t buy it completely (based on his repeated past transactions); however Frank is no dummy and has been serially successful, so I was willing to absorb his views on the commodities and resource sector. Marin also is very sharp, but his persona usually rubs me the wrong way, but even he was on point in this interview and kept things focused.

        If anyone is debating on watching the interview based on the over-the-top personalities involved, I’d still recommend it, as there were a number of interesting points made on Gold, Silver, Uranium, Zinc, Copper, Oil, NatGas, and other resources (like Olive Oil).

        • On April 19, 2017 at 1:07 pm,
          OOTB Jerry says:

          btw…..I listened to the tape…..I thought he had some good info…..overall..thanks OOtb

  17. On April 19, 2017 at 3:57 am,
    Markedtofuture says:

    Obama Living it Up Like the Super Rich

    The Democrats blast CEOs and the Super Rich always demonizing them for elections. They look at their perks and compare them to the average worker to incite class warfare for every election. However, the Super Rich have nothing on politicians. They can create foundations for tax free living like the Clintons, or rent yachts like Obama for the lavish lifestyle.

    https://www.armstrongeconomics.com/world-news/corruption/obama-living-it-up-like-the-super-rich/

  18. On April 19, 2017 at 4:14 am,
    Ozibatla says:

    All good observations Excelsior. I was only thinking of the sell in May go away factor the other day. Your right, gold at $1280 and silver above $18 is hardly spilt milk. In fact a weekly pause at this area could serve well for the two pms, so long as though they dont roll over.

    • On April 19, 2017 at 7:35 am,
      Excelsior says:

      Thanks for those thoughts Ozibatla. Yes, current prices not to shabby even if we correct from here into May. Again, I wanted to see one last rally before the summer slump, but figured 1300-1310 would be a significant wall. Since the miners haven’t rallied the last 2 weeks with these higher prices, I’m loosing confidence that they are going to kick it in, so we may already be seeing the slide….

  19. On April 19, 2017 at 6:23 am,
    Matthew says:
  20. On April 19, 2017 at 7:30 am,
    OOTB Jerry says:

    MONKEY HAMMERed again…………$3 Billion or 22,000 more contracts dumped today…zerohedge

  21. On April 19, 2017 at 7:40 am,
    Chartster says:

    GLD 😳

  22. On April 19, 2017 at 7:58 am,
    Excelsior says:

    A Look at Gold Miners Correlation Numbers
    The Hedgeless Horseman – April 19, 2017

    http://www.thehedgelesshorseman.com/gold/look-gold-miners-correlation-numbers/

  23. On April 19, 2017 at 8:22 am,
    Excelsior says:

    The Silver Report 2017
    Resource Capital AG

    $EDR $EXK $FR $AG $GPR $GPL $KTN $LVN $MAG $MMG $SCZ $SMT $SVM $SVE

    http://www.resource-capital.ch/fileadmin/reports/2017/final_DS_Silver.1_en.pdf

  24. On April 19, 2017 at 8:28 am,
    Matthew says:

    GDX has now almost completely filled its April 11 gap:

    http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=0&mn=9&dy=0&id=p08808409212&a=514184409

  25. On April 19, 2017 at 8:47 am,
    Matthew says:

    The loonie can’t catch a break and now looks like it wants to test the December low:

    http://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=0&mn=8&dy=0&id=p24983705863&a=518937420

  26. On April 19, 2017 at 8:56 am,
    b says:

    Gold: The Greatest Bull Wedge Pattern in the History of Markets? – Stewart Thomson
    Posted on April 19, 2017 by The Doc 6 Comments 1,364 views

    Precious Metal Analyst Accountability
    http://www.pmaccountability.com/

    Stewart Thomson writes the Graceland Updates.

    I’m not a fan of Stewart Thomson – I find him arrogant, and a wholly inaccurate PM analyst – I consider him one of the worst. Let’s allow his wayward predictions speak for themselves:

    • On April 19, 2017 at 9:48 am,
      Matthew says:

      Stewart is confident and, for his big-picture understanding, has every reason to be. He is more about taking appropriate actions in real time, than making predictions.

      On Dec 15, 2015 he nailed it beginning with the title of his piece:

      Gold: J Day & Generational Lows

      http://www.321gold.com/editorials/thomson_s/thomson_s_121515.html

      The article ended with this extremely timely advice:

      “Gold stock enthusiasts need to buy now, and take a solid stake in what is destined to become generational gold stock lows!”

      • On April 19, 2017 at 9:51 am,
        Matthew says:

        The next article on 12/22/15 was titled: “2016: The Golden Year” -he was right.

        • On April 19, 2017 at 11:33 am,
          Excelsior says:

          +2016

      • On April 19, 2017 at 9:55 am,
        Matthew says:

        In his Nov. 8th piece, just before gold plunged, he said: “Gold is vulnerable. It’s technically overbought, and a developing top pattern is a concern.”

        http://www.321gold.com/editorials/thomson_s/thomson_s_110816.html

        • On April 19, 2017 at 11:33 am,
          Excelsior says:

          +8

  27. On April 22, 2017 at 1:59 am,
    Zack says:

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    website unintentionally, and I am stunned why this accident didn’t happened in advance!
    I bookmarked it.
    Olympique Lyonnais drakt langermet

    • On April 22, 2017 at 4:53 pm,
      Big Al says:

      Thanks Zack