Recapping the Month of May For Investors
As we are in the final trading day for May Chris Temple and I recap the month. We look at US markets, currencies, treasuries, and the precious metals all with a look forward to what June and the rest of summer will bring.
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j – what are your upside targets for resistance if IPT breaks out of that wedge to the upside?
resistance comes in at the upper parallel trend lines at .80 and .87 updated on the chart link
Thanks. I’ll keep an eye on those support and resistance levels, and am curious to see if IPT will break down or break out when the energy releases from that wedge.
Interesting overview May in the General Markets, Currencies (good Yen commentary) and Treasuries. Thanks Cory & Mr. T for all your insights.
Dan Oliver – Will Gold Save China When Its Credit System Crashes?
Jay Taylor Media – May 31, 2017
$MAI $VGMTF Minera Alamos Announces #StrategicPartnership with $OR Osisko Gold Royalties
May 30, 2017 #Gold #Development into near-term #Production #Mexico
“As a result of the Osisko Placement, Osisko owns approximately 19.9% of the common shares of Minera Alamos on a non-diluted basis.” (ding, ding, ding)
(MAI ) (VGMTF) Minera Alamos Corporate Presentation – June 2017
(this presentation highlights $OR strategic investment right up front)
ira epstein
Cory
Any plans for having these companies on for interviews in the near future:
o Theralase
o Secova
o Arizona Silver Exploration
Thanks,
Brian
Hi Brian,
Secova will be on the show shortly when they start to get some results. I understand the assay labs are very backed up in Quebec.
Arizona Silver I have been in communication with but we are now waiting for some more of the results to be released. John Kaiser and I do mention the Company on an interview coming up this weekend.
Unfortunately we are no longer covering Theralase so I do not expect an update. The stock was performing very well but has been in a bit of a sell off recently. We wish Roger and his team the best of luck with the continued trials.
Thanks for following up Brian. Are there any other companies you want to hear from on the show?
Actually, it would be really cool to have one of the silver companies from the Yukon:
o Alexco (AXR, AXU)
o Metallic Minerals (MMG, MMNGF)
Or maybe just interview Yukon Cornelius?
This week looks like the turning point for Silver and Gold to me. The triangle pattern ends here. I’m guessing that if the dollar continues to fall, that the PMs will start the next leg up in this bull market. Contrarian thinking, but it is all I’ve got 😉
The action in my juniors tells me that you are probably right.
Contrarian thinking is all you need!
NFP release Fri could be a trend driver into June FOMC meeting…effecting $yen…$tnx
As I commented yesterday, LBMA options end today and gold price should be liberated.
The triangle pattern on my chart (GDX) comes to an end around the begining to middle of July. The pattern never extends that far so I think the break, either up or down will come right around the week of the Fed meeting. I am using a weekly chart so that might be why out patterns are slightly different.
A break up at anytime would be great in my books 😉
Actually, I use a “skewed view” of triangle formations that have multiple line-pairs that may include/exclude Fake Breakouts (FBO) that I see, for some reason. I have one line-pair that has the breakout this week or next.
But I do CLEARLY see your mid-July apex, as it is one of my line pairs. And, I agree, that the apex is rarely reached; almost always an early breakout or move around the apex.
Regardless
The triangle pattern on my chart (GDX) comes to an end around the beginning to middle of July. The pattern never extends that far so I think the break, either up or down will come right around the week of the Fed meeting. I am using a weekly chart so that might be why out patterns are slightly different.
A break up at anytime would be great in my books 😉
Chris:
What’s your best guess for the path of Asian currencies if a shooting war starts in Korea: I’d guess the Yen will sink and the $$ might fly………
if you trade silver off a 9 day simple moving avg your nailing the action
Makes sense. Silver is so volatile, that it may be best to keep a tighter leash on it. I’ll check out the 9 day SMA and see how that looks.
Personally, I don’t trade Silver very often (sometimes I use the ETFs), but do follow the medium term trends for how that may affect the profitability of the Silver Miners.
oh without any doubt the reality is the silver miners add way more leverage to % gains than spot silver and for the most part dont have the gap openings that silver produces on its chart
Agreed. I’m much more comfortable trading the Silver miners but they are a wild ride to the downside and the upside due to the leverage factor.
Jaw Crusher arrives at the Santa Elena mine (MXSG) Mexus Gold
by @nasdaq on May 30, 2017
“Mexus Gold US (OTCQB:MXSG) CEO Paul Thompson visited the Santa Elena mine on May 26th. During the visit he was able to witness the much anticipated arrival of the 4230 jaw crusher. As previously announced, this jaw crusher will enable the mine to increase production to 10,000 tons per day when operating at full capacity. It is expected that this increase in production will occur gradually as the machines performance is perfected. “Getting the jaw crusher on site is big deal to our mine operator and our shareholder base. I was thrilled to see the machine up close and getting readied for production,” added CEO Paul Thompson.”
https://ceo.ca/@nasdaq/jaw-crusher-arrives-at-the-santa-elena-mine
2017-05-30 12:38 ET – News Release
Mr. Stephen Nano reports
MIRASOL RECEIVES US$400,000 OPTION PAYMENT FROM YAMANA GOLD CONFIRMING CONTINUATION OF GORBEA GOLD BELT JOINT VENTURE IN CHILE
Mirasol Resources Ltd. has received a $400,000 (U.S.) option payment from Yamana Gold Corp., confirming that it will continue exploration at the Gorbea Belt joint venture (JV) for a third year, targeting large, bulk-minable oxide gold deposits.
Meanwhile in the land of fruits and nuts it is OK to discriminate on racial grounds.
Or is it just more efficient to give marijuana selling permits to the existing drug dealers?
http://www2.oaklandnet.com/oakca1/groups/cityadministrator/documents/agenda/oak063511.pdf
Politics win over knowledge and intelligence:
Wisconsin Supreme Court Upholds Rejection Of Fracking Permit
By SCOTT BAUER – Associated Press – Wed May 31, 10:55AM CDT
MADISON, Wis. (AP) — A divided state Supreme Court on Wednesday upheld a decision denying a permit for an Iowa-based company to open a new hydraulic fracturing sand mine in western Wisconsin.
AllEnergy Corporation and AllEnergy Silica wanted to open a 265-acre mine as part of a 550-acre project that includes a processing site in the town of Arcadia. But its application was rejected by a Trempealeau County environmental and land use committee in 2013.
IPT has good support in the .55 to .57 area…
http://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=1&mn=0&dy=13&id=p57203056481&a=514181719
Bought IPT today at 0.58 cad. Geels nice to buy at strong support. Money in the bank, debt free and a lot of exploration going on, I like.
Nice Blue!
Thanks Ex!
I know you and Matthew likes it a lot and Im glad to join you fellows on the IPT journey.
lol … one should never be long or short anything based on what any other investor does…the chart action should be your guide as group hugs always over stay at tops instead of trading off the charts
Of course, j
Thats why I bought today att strong support. I’ve been following IPT since last year and its one of my favourite silverjuniors.
J – I agree with you, that nobody should buy or sell anything based on what another investor or newsletter writer does, and that they should trade off their own due diligence into the fundamental backdrop of the company, but use the charts for entry and exit points.
I’ve swing traded IPT about a dozen times in the last year using the charts and have no problem at all trimming into overbought conditions (in fact, if anything I typically trim a winner too soon. It’s the biggest flaw I have as an investor is seeing overbought conditions on the charts and trimming a bit too early).
That’s some narcissistic behavior there, j. Was that “lol” and dumb assumption of yours really necessary?
Blue may your IPT journey be prosperous and good luck in your trading. 🙂
P.S. – We don’t do group hugs on here, but we will post some charts later in 2017 and 2018 to keep track of how the stocks perform. If people are successful in their trades, then they deserve congratulations, as the miners are a very volatile sector to participate it.
Wishing everyone here at the KER success in their investing, and personally I don’t like seeing anybody lose money. It helps to take a pragmatic approach and nobody should expect all their trades to be winners (even if they are using TA to increase their probabilities of success). There is not a bulletproof strategy no matter how many chart or indicators are analyzed.
well done blue good luck…..EX that is not a flaw that will ever have you broke as far too many investors hang on too long and seek out views of fellow long and wrongs!
It doesn’t matter if a friend tells me to buy or a chart tells me to buy, as long as I buy low and sell high im satisfied with my investing.
Matt your head is so far up your own arse you dont understand my lol remark is a very important issue many investors suffer from as they seek fellow long and wrongs just as every top and bottom creates usless opinions of much higher or lower projections but the chart action does not and leads the true action off tops and bottoms…such a sensitive girly man!
I see, you think being an ass means you’re not a girly man. Got it.
you really make me laugh…thank you! how many times has the bottom been called in the uranium sector these past 11 years how many proclaimed the bull had returned in the new year yet those that are still long U stocks have lost big money and where did all the cheerleaders go? How many called for oil in the teens when $30 broke yet a buy signal was given shortly after $26….herd mentality and fellow wrong positioned investors you see it all the time at blogs I’m buying too if so and so is and yet the most basic chart indications suggest otherwise …PPP is a great example as it cant even close above a 5dma yet doc of course would sayy he is still nibbling away as it falls 80% off 2016 highs….
Asanko Gold (AKG) was taken out to the woodshed today after Muddy Waters put out a short piece hit on them:
(AKG) $1.29 down -$0.58 (-31.02% loss) – as of 2:46 pm Eastern
http://d.muddywatersresearch.com/wp-content/uploads/2017/05/MW_AKG_20170531.pdf
This is a pretty good article and discusses (AZS) Arizona Silver, and reactions from John Kaiser, Eric Coffin, and James Kwantes.
It touches on Castle Silver, the rest of the Cobalt Stocks, and gets into some Gold Stocks like the Integra takeover, and Secova & Bonterra.
A nice recap out of that conference….
__________________________________________________________________________
What I learned at the 2017 International Metal Writers Conference
Chris Parry – May 30, 2017
https://equity.guru/2017/05/30/what-i-learned-at-the-2017-international-metal-writers-conference/
Nice! I will definitely look at the article.
(AKG) Asanko will be addressing the various elements in the short piece from Muddy Waters in the near future.
The stock is now un-halted and is up in after hours trading.
Company reply
https://www.google.com/search?q=0https%3A%2F%2Fwww.asanko.com%2FNews%2FNews-Details%2F217%2FAsanko-Gold-to-Release-Expanded-Mine-Feasibility-Report-Refutes-Muddy-Waters-Short-Report%2Fdefault.aspx&rlz=1C1GKLO_enUS741US741&oq=0https%3A%2F%2Fwww.asanko.com%2FNews%2FNews-Details%2F217%2FAsanko-Gold-to-Release-Expanded-Mine-Feasibility-Report-Refutes-Muddy-Waters-Short-Report%2Fdefault.aspx&aqs=chrome..69i57j69i58.12280j0j4&sourceid=chrome&ie=UTF-8
Thanks Doug. Nice to see the rebuttal of Muddy Waters piece by Asanko.
It will be interesting to see how the stock trades on Thursday.
can this Fri NFP release repeat last Junes action on the $TNX chart sending gold and $yen higher into another July peak?….a weak report suggesting 1 more hike in June then done could be the spin needed for stronger yen-gold….TNX off a decent amount todsy popping gold
$cdnx looks like it wants to retest the 200 WMA perhaps. Should correspond to some sort of spike down in the miners if it happens.
Primero (PPP) went on sale the last 20 minutes of trading today and is still on sale in the after-hours trading. Currently @ $.39.
This should be obvious, but after J’s comment above, let me reiterate that is not investment advice, merely an oddity in the current share price. DYODD.
(P.S. – There will be no group hugs at the top 😉 )
Cory, what happened with not covering Theralase. Thanks
All I know is my block chain is RAPING my stock positions on performance.
lots of % gains missed by those trying to apply fundamentals to a market which central banks are buying better to use a chart trend indication…if yen strength can hit 100 again gold can easily add $100 from todays levels
IPT weekly wanting to retest its Dec lows yet silver showing strength
https://tinyurl.com/yaaqmkta