Daily Market Wrap – Wed 19 Apr, 2017

US markets and gold moving down together

Doc joins me again on today’s market wrap to discuss the potential of both the US markets and precious metals moving down together. It’s what we saw today but will it continue for next couple months? We have been saying a natural correction is due for these markets.

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Richard PostmaCory Fleck
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  1. On April 19, 2017 at 1:59 pm,
    Silverdollar says:

    Dow closed 2nd day below the 50 day, outside the Bollinger bands, and right on last months low. Some may call it a double bottom; I’m looking for 20,000 soon. JMO

  2. On April 19, 2017 at 2:08 pm,
    Jay says:

    Strongly suggest reading this. May be a canary in the gold mine. Also, the Grant Williams presentation linked in the article is terrific.

    A tsunami of $ coming if large funds begin to even dip their toe in the water of gold stocks (first large stocks, but that will spillover into juniors and explorers).


    • On April 20, 2017 at 10:53 am,
      Excelsior says:

      Just realized you posted the same article. I apologize about the double post. The bottom of that article was interesting to consider.

  3. On April 19, 2017 at 2:49 pm,
    GH says:
  4. On April 19, 2017 at 2:52 pm,
    GH says:

    and stymied by speed lines and fib fans:


    I continue to think it put in a 15-year high in December.

  5. On April 19, 2017 at 3:44 pm,
    GH says:

    Nasty few days in GDXJ, and a disappointing underperformance relative to GDX.

    Still, from a purely technical standpoint, this looks more like a time to buy than sell. For the past 2.5 years, when the RSI of the GDXJ:GDX ratio has been at this level, 6 out of 7 times it has been at least a short-term buy.


    Don’t take that to the bank. Just a technical observation.

  6. On April 20, 2017 at 4:07 am,
    Excelsior says:

    The next French President’s Nuclear Problem
    By Marion Solletty and Sara Stefanini – 4/19/17

    Candidates face tough decisions on the country’s Nuclear Energy Future.


    • On April 20, 2017 at 4:11 am,
      Excelsior says:

      This aging French fleet of Nuclear Reactors and the politics around shutting them down, extending their life, or building new ones is a very significant debate.

      France is a MAJOR player in the Nuclear markets and Areva is one of the largest Nuclear & Uranium Conglomerates out there. As bullish as I am with the new build out of China, India, Turkey, the UAE, Russia, South Korea, the US and a number of smaller countries, I have to admit that this French issue is a biggie and could be bearish for the Uranium sector. Wild times.

  7. On April 20, 2017 at 6:42 am,
    Excelsior says:

    Callinex Mines – Getting the drill rigs running in the Bathurst Camp
    19 April, 2017


  8. On April 20, 2017 at 7:23 am,
    Excelsior says:

    April 19, 2017

    * First Quarter 2017 Operating Highlights and Annual Outlook:

    > Mined a total 57,633 gold equivalent ounces(1), in line with Company expectations
    > Produced and sold a total of 34,454 and 33,737 gold equivalent ounces, respectively
    > In Nevada, ore from Fire Creek was stockpiled due to heavy snowfall limiting our ability to transport ore to the Midas mill
    > Built a significant stockpile in Nevada of 30,890 tons at an average grade of 0.94 gold equivalent ounces per ton containing 29,142 gold equivalent ounces(2). This is an increase of approximately 18,000 tons from the end of 2016. These tons will be processed at the Midas mill in the second quarter
    > Forward sold 20,000 of the stockpiled gold ounces in the first quarter at an average realized price of $1,250 per ounce
    > As planned, the Company continued to ramp up True North in Canada towards full production, which is expected to occur in the second half of the year
    > The Company’s initial mineral resource estimate at Hollister is expected to be completed in the second quarter. Development work continued with ore silling in the Gloria zone; stockpiled ore is expected to be processed at the Midas mill in the third quarter
    > The Company remains on track to meet its annual production guidance of 210,000 to 225,000 gold equivalent ounces, up 36% from 2016
    > The Company will report its financial results for the first quarter of 2017 after market close on Thursday, May 4, 2017.


    • On April 20, 2017 at 7:26 am,
      Excelsior says:

      Bonzo Barzini & Doc – I decided to finally join you guys yesterday in Klondex position.

      I really think this sell down has become excessive.

      Here is a great interview that really unpacks the direction of the company:


      Klondex Mines: “I See It As A Great Buying Opportunity Right Now”
      ResourceCapitalAG – Apr 11, 2017
      Interview with President & CEO Paul Huet


  9. On April 20, 2017 at 7:29 am,
    Matthew says:

    GDXJ priced in GDX reversed at a big fork support this week but still looks like it might shoot for speed line support (green arrow) in the days weeks ahead.

    This is a good time to begin to fade out of the seniors and into the juniors on days when the ratio is weak (in my opinion). Whether the next big move up starts in 3 weeks or 3 months, the juniors are going to blow the seniors away just as they did last year.


  10. On April 20, 2017 at 8:03 am,
    Excelsior says:

    GDXJ: Time to Look For Opportunities?
    The Hedgeless Horseman – April 20, 2017



  11. On April 20, 2017 at 8:42 am,
    Matthew says:
  12. On April 22, 2017 at 2:39 am,
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