Dollar Down, Markets Down, Gold and Treasuries Up
The dollar weakness is a big sotry today as many commentators are pointing to healthcare reform being dead as the main driver. Chris Temple and I were talking about that weeks ago. We now look ahead to why the Euro is popping and the US dollar is dropping and if this will continue. Also some comments on the precious metals move up and is this is sustainable.
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If the BoJ hints that it is going to ease even more, kiss gold and miners goodbye. I also think the commodity complex will be pressured over time as well. Conversely, the stock market should begin its next moonshot soon thereafter.
Go with the flow
GIANT Ws forming on silver, gold, and miners. Something is up.
Been held down to long.,
A lot of investors have lost interest , and chasing something else…..
Just heard yesterday, all New construction in Miami must have solar…
Note ,the new panels have less silver.,I am told
Buy AMZN on any dip. $2000 is a cinch within 12 months.
You most likely correct…
Maybe you should sell Amazon and buy NSRPF.
Nice one Bonzo Barzini.
BoJ and SNB loading up on AMZN today–frontrunning themselves, lol. It’s breaking out today.
TO INFINITY AND BEYOND!
U snooze u looze…next new stock,along with rock it mine
Yo DOC! Check out the ASM chart! Long and strong!
My long plays are USLV, JNUG, and NUGT. For my son SLV.
Currently bag holding on crypto but I am patient.
Doc is still scratching his ivy in parts unknown
ASM has held up well Jason, and has had a nice bounce in harmony with Silver’s bounce. Nice to see.
Bitcoin looks fine…crypto are going wild next, Goldman will sucker every one in
If you look at the monthly chart of $crb, the stochastics are clearly suggesting it’s going lower. 165 is going to be taken out. Whether new lows are made in the index remains to be seen, but I think it will hit a new 40+ year low this year.
It’s possible the stochastics flip back up before hitting oversold levels, but that has occurred only 2 times since 1981 after crossing “50” by his much. And in both those instances they got very close to being oversold.
Should say in the first instance, in 1990, the stochastics got close to being overbought before turning back down and in the second instance in 2006, they got close the being oversold before flipping back up.
Bottom line is there is a 99% chance they reach oversold levels and stay there for a month or two. New lows in commodities likely headed our way courtesy of the BoJ.
The CRB is going down because it’s weighted heavy in oil. Other commodities are going up. Gold and oil should start heading south soon.
The USD is going down for all the fundimental reasons it should, and it will continue to head south.
Yep, lots of commodities are looking great right now. I can’t see a lower low even in the $CRB with its extra oil weighting.
Maxine Waters..says…Putin invaded Korea.. zh.
I bet $500, she can not find Korea on a map
Her impeachment plans are not being supported by her base,….only raising $20,000 ,campaign contributions sink.
Term limits are not needed , , as long as she opens her mouth… 🙂
And how about those republicans… For years they touted and ran on repeal and replace. Those inept pieces of ~~~~ should have had repeal bill on Trumps desk Jan/20.
If members of congress were to be investigated for corruption, at least 80% of them would be gone. Something tells me the republicans want to keep ACA, which means they are getting greased just like the dems are.. And the gullible sheeple continue to play shuffleboard on the titanic.
Ditto..how long have we been talking about this Two Headed Snake…
Everyone one needs to go
Typo no one….
The gov’t is cooking the SHEEple
These republicans are on all the news channels doing damage control. It takes two years to unwind the ACA. Why they haven’t repealed ACA, is either (a) they are complete morons. (b) waisting time for some unknown monetary reason , or (c) Both
Either way, they demonstrate serious stupidity!
Ditto…..Term limits is the only recourse….
Ethics committee can go….they are wasting their time
If, the.president has limits…so should crappy congress
The budget will never be balanced,..how could they keep everyone in enslavement if they balance it…
nvo seems to have had its run at this point and looks to have begun to move up and down with the gold price.
A favorite around here ipt currently is down another 5% (almost), looking at the kitco list I see nothing “special” happening.
Maybe things change but to me it looks like we still have some doldrums to get through.
Hey B I just started researching CannaRoyalty more after having it recommended to me by my favourite (so obviously most successful) source. Thought you might be interested since you like to dabble in pot.
thx wolf, interesting.
Trimmed Novo on the surge, waiting to buy back.
Currently have a nice IPT position, and have no problem buying more at key support.
Novo needs to hire some natives with jackhammers and scourer the property.
ya, from the vid ya wonder why they just dont send people out with metal detectors.
Ditto
ipt now is down over 8%
I can see it getting absolutely hammered if the gold price drops due to doldrums.
I think gold is headed high….Wash and repeat .
Almost getting to dang funny…
b – we’ve been in the doldrums in PMs since May but definitely since the June peak. If anything there may be one last move down to clear out sentiment, but mid Aug-Oct is typically a strong time for the metals and miners.
GOLD – 15 year seasonality chart [2001 – 2015]
Ex, I sold it this morning, waiting as well to buy back in on a pullback DT
On Novo or Impact?
Just remember to buy back when it does pullback 🙂
On Novo! DT
Gotcha. Yeah, me too. Looking for a good place to buy back the shares I sold on the spike last week, but remember not too wait too long, as those trenching bulk sample assays are due back in 2-3 weeks.
Cheers!
Not sure if it’s been posted here yet but there was a release by Auryn that they start trading on NYSE as of July 17th and that they have started their drill program at the Homestake property for those following Auryn.
The US dollar could be going down fundamentally because of people pulling money out of US stocks and bonds.
Sprott is invested in Cannaroyalty.
Yes around 10% level I believe.
Dow will probably rally back to unchanged by EOD.
Bitcoin to $500,000. McAfee says.(.the rest is to naste to quote)
Dow 50,000 on Fang and a prayer….
ISVLF headed to .25 like I said. down by 50% in 3 months and 70% in 1 year. nice.
Those penny stocks will eat you alive..unless you take profits ..when they run….jmo
Buy the dips, and sell the rips…..
What’s interesting is that most people “Cry on the Dips, and Buy on the Rips”.
When people are all freaked out on 50-70% retracements = a dip (time to buy), yet what will happen is the metals will move this Autumn, and those people will not be properly positioned, they’ll see the miners starting to tear to the upside, and they’ll jump on board once the stocks have moved up 100-300% and they feel more comfortable that a new trend is in place.
That’s what makes a market though….. 😉
It was also up 1000% in 2016, so a retracement of 50-70% is normal on a move like that. 78.6% retracement is where I plan on adding more to my Impact position, and yes…. it will be very nice, because I expect another 200-400% upside after that.
Yes, Spanky, it is VERY nice! I sold 75% of my stake above $1.00 and now have more than I’ve ever had.
From what I see from the general SHEEple, pot stocks and ink…are the place to be….
S&P…..goes longest in 20 yrs. Without a 5% pull back
What a joke….when this thing goes ,look out
I’m sure the longest run in 20 yrs is on solid market fundamentals though, and not the meddling of Central Banks…..
No, strike that and reverse it……
FUN a mental
All this fun is making people mental….
disturbing ……..
The monthly Ichimoku cloud for $HUI looks ominous. You rarely see such a steep, near vertical boarder on a red cloud pierced from the side. Instead, what you typically see is a drop below the lower border eventually before another assault to the upside. The low point on the red cloud infront of us is around 155. Price will probably drop below that level before bottoming.
Basically, $hui getting back to 280 is years out. My guess would be 2020.
I couldn’t disagree more. The HUI will likely take out 280 within one year and maybe within 6 months.
http://stockcharts.com/h-sc/ui?s=%24HUI&p=W&yr=7&mn=3&dy=0&id=p22170971792&a=489738088
You could have said the same thing in June 2015–no steam left for downtrend. And yet the $HUI collapsed into the late summer and you had to wait 6 months before a final bottom thereafter.
The strength reading that June was more than double the current reading and that is just one indicator. The situation now couldn’t be more different than two years ago.
Agreed. When people make historical comparisons they often neglect to mention the completely differing setups between the current markets and those times.
You see this all the time when people remark about the miners & metals selling off hard in 2008 with everything else, but they were at much higher levels and sentiment was very bullish. The setup now, if the general markets capitulated, are much much different for commodities and for the Precious Metals / miners.
For clarity, yes the miners and metals could sell off some in a “sell everything” event, but it just won’t be to the extremes as was in 2008 as the current environment with the General Markets at nosebleed levels, and the Metals & Miners at quite suppressed levels with negative sentiment is a much different setup.
NEM actually closed red today.
These last few days of rising prices in metals and miners were a gift from the banks. The signs are clear that the miners are headed for a waterfall decline in a very short amount of time. Additionally, there will be no rapid recovery, based on the Ichimoku cloud on the monthly chart. Instead, the miners will waffle around in a huge trading range for a couple of more years.
GDXJ looks better than ok…
http://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=7&mn=3&dy=0&id=p59558232373&a=535081189
Corey, what ever happened to Doc? I miss his insights.
Doing a home renovation is the cover story 🙂
However, something tells me Doc has an internet connection and is watching the markets.
Looking forward to hearing from Doc as well.
Doc is itching to come back…….he has a new site….www.ivy.com
Doc also is finishing up his new book “Scratch and Nibble your way to a Fortune”
SILJ is up 10% since its July 10 low…
http://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=1&dy=13&id=p43832242085&a=533849510
+10
I picked up quite a bit of IPT today at an average price of 37.2 cents (the VWAP of the 395,000 traded today was 38.2 cents).
http://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=3&mn=3&dy=22&id=p56249178899&a=533531451
IPT? With all the disparaging comments up above…..? You naughty contrarian investor.
🙂
Yes sir. It’s looking like a good place to start adding to Impact, as other Silver stocks have already started to move first. However, when IPT starts to move…..it really moves…..
Santacruz Silver has had a very healthy surge over the last week, so I trimmed a little back on that position today and added it onto my growing Excellon position.
I believe (EXN) Excellon will surprise a few folks in later part of this year with the grades they start mining and with their extension drilling. For the last year, they’ve been feeding their mine with leftover above ground lower-grade stockpiles, and that is how the market is currently valuing them, but they’ve just completed a 2 year program to dewater their mines. Now that they have completed this phase of the dewatering, they are finally getting at their higher grade ore underground. This will help on their efficiencies, margins, cash flows, and visibility.
________________________________________________________________________
Excellon Resources – Corporate Presentation July 2017
“Doubling production and halving costs during 2017”
http://www.excellonresources.com/_resources/presentation/corporate-presentation.pdf
You’ll see that they are dropping their AISC from $19 pre-optimization to $9 per Silver Eq ounce post-optimization. (That’s a huge reduction, and the market is still valuing them like they are financially “underwater”) [pun intended]
This may be one of the great turn-around stories in the Silver space for this year and moving into 2018, along with Americas Silver dropping their AISC from $12 to $10 and then $3 by year end bringing on San Rafael.
I love a good underdog, that plays hard, gives it all, and comes back to surprise the spectators. Tipping my hat to the team over at Excellon and Americas Silver.
Don’t forget PPP. It just might offer more quick upside than any other producing gold miner right now. Melt-up time is coming very soon.
I haven’t forgotten PPP, but at present I’m underwater on it. I still believe that it may be one of the bigger movers on a percentage basis once the gold miners get moving, but at present, it is a red mark in my portfolio. I expect it cure those woes and surge much higher this Autumn though.
I don’t know how that’s relevant to the present technical setup and opportunity. It has fallen to long term support levels that give it a very appealing risk-reward profile.
http://stockcharts.com/h-sc/ui?s=PPP&p=W&yr=8&mn=0&dy=0&id=p05826461519&a=517720321
I was just responding to the comment “Don’t forget PPP”, and just letting you know I hadn’t forgotten. I was in agreement for the melt up time and mentioned I expected Primero “to surge much higher this Autumn…”
Check out pages 17-23 on that Excellon Corporate presentation to see just how important that dewatering initiative was for them the last 2 years.
Does that gap in the basement ever get filled?
I’d prefer not to see that Gap filled down there but it would mean the whole metals market retraced back down to the 2015 low in the metals the Jan/Feb 2016 low in the miners if that were to happen. It seems unlikely at this point a year and 1/2 later, but any thing is possible. (it’s just not probable, because the miners were at insanely low valuations back then).
I won’t leave myself any wiggle room on that gap. I expect it to stay open for many years.
It is a powerful break-away gap that is made more significant by the fact that it is a weekly chart gap that occurred at the end of a long and very deep cyclical bear market.
Today’s action was just a better test of the big fork support that was nearly reached last week.
http://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=3&mn=3&dy=22&id=p30671921798&a=533531451
Good info, thanks guys.
I’m getting a very bullish feeling on the precious metal miners.
I drew this one months ago and haven’t made any changes. Yes, some MA resistance above, but great action around the fibonacci fans and levels, and it took out the 6-year downtrend line (black, two dots) nicely, and the stochastics, MACD, and RSI look great.
http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=2&mn=0&dy=0&id=p77214280077&a=480387695
SILJ:$GOLD recently found solid support at the 600 EMA and broke up out of a nice falling wedge pattern_
http://stockcharts.com/h-sc/ui?s=SILJ%3A%24GOLD&p=D&yr=1&mn=8&dy=0&id=p82646910071&a=516554025
Caution is good, but strong bearishness at this moment looks to me like fatigue from the long grind, and looking in the rear-view mirror.
I posted this weekly GDXJ months ago, saying the cyan arrow was my best guess. That’s still in play.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=8&mn=0&dy=0&id=p07278483362&a=501069308
Dang, you boys see this? What a way to go…
http://people.com/human-interest/skydiver-suicide-wedding-anniversary/
Yes, I’ve often thought that would be an interesting way to go…. (unfortunately this circumstance is a bit more sad).
Gold……Flash crash at 4:00am……..dump of 1800 contracts…….target now 1298….zh
1296….then look for 1378……..on a C wave……..
Sabina Gets A Green Light
by @Goldfinger on July 19, 2017
“Yesterday after the market close Sabina Gold & Silver received a positive recommendation from NIRB (Nunavut Impact Review Board) which essentially means that the company is very close to getting the full go ahead to construct a mine at Back River.”
Mining Stocks – How Retail Investors Can Gain The Upper Hand
Jul. 10, 2017 – Fi Fighter (@Jayfire)
“The typical retail investor usually operates from a position of weakness relative to Big Money since they do not have the required credentials needed to participate in private placement deals.”
“Buying quality companies when the share price dips significantly below the latest offering creates an anti-dilutive effect.”
“The mining sector is extremely volatile so what goes up more often than not comes crashing back down again. Opportunistic entry points are extremely important.”
https://seekingalpha.com/article/4086752-mining-stocks-retail-investors-can-gain-upper-hand
Scorpio Gold Reports Measured & Indicated Resource Estimation of 121,700 oz. Contained Gold in the Heaps at the Mineral Ridge Mine
uly 12, 2017 –
“Scorpio Gold Corporation(TSX-V: SGN) is pleased to announce the Mineral Ridge Heap Leach resource estimate by Mine Technical Services (MTS) of Reno, Nevada. The confirmed resource estimate of 7.1 MT at an average grade of 0.017 oz./ton or 121,700 contained ounces of gold in the Measured & Indicated category provides the basis for conducting a feasibility study for milling of the material and additionally confirms reconciliation of tonnage, grade and contained ounces placed by the Company and its predecessors since operations commenced.”
Dollar is as sick as healthcare …