Chris Temple from The National Investor – Fri 18 Aug, 2017

A balance between political market moves and fundamentals

The markets have been a wild ride over the past 24 hours. A big dip yesterday and what looked like some follow through this morning has started to reverse. Lot of political stories again dominating the headlines butt he underlying economy has seen some more positive signs. Chris Temple and I discuss the push and pull behind politics and data that are playing a roll in these day to day moves.

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Comments:
  1. On August 18, 2017 at 9:48 am,
    spanky says:

    Huge outside reversal candle in GDX will likely prove to be a top for the next few weeks, IMO. Down we go.

    GDX:GLD looks hideous.

    Absolutely no follow through ever with fhis godforssaken sector. It’s been in one giant down trend for over a year now, interjected with one month relief rallies.

    Down we go from here and I think we will come close to the July low, if not break it.

    • On August 18, 2017 at 10:11 am,
      Matthew says:

      You’re funny spanky. Nothing negative has happened to the outlook for the sector for the weeks and months ahead. Things are shaping-up just fine.

      • On August 18, 2017 at 10:14 am,
        spanky says:

        Months ahead maybe. But I still think we have topped and will head down for a couple of weeks based on today’s reversal in yen, gold and miners.

        We would need a double reversal to turn this around by Tuesday. I highly highly doubt it happens.

        • On August 18, 2017 at 10:33 am,
          Matthew says:

          It won’t take months. Not even close. I’ll be dead wrong if it does. I say two weeks at most.

  2. On August 18, 2017 at 9:55 am,
    Temple says:

    And I said we’d get these reversals even BEFORE it came out that Bannon was thrown under the bus.

  3. On August 18, 2017 at 10:25 am,
    spanky says:

    Look at the confluence of support and resistance on the GDX weekly chart. The bankers can and probably will wreak havoc with up and down moves until the ultimate trend asserts itself. They could try to break GDX below the 200 WMA, which will likely lead to panic selling. Par for the course in this sector.

    http://stockcharts.com/h-sc/ui?s=GDX&p=W&b=5&g=0&id=p80960479152&a=540178259&listNum=1

  4. On August 18, 2017 at 10:30 am,
    spanky says:
    • On August 18, 2017 at 10:41 am,
      Matthew says:

      Yes, I do love it. You should try not to be so shallow with respect to beauty. 😉

      Today’s reversal was likely after that 31 cent gap (yes, that’s a gap) and that poke through the Bollinger band. Trends die hard because people are generally closed-minded and emotional so most bears and scared bulls likely “feel” as you do.

      http://stockcharts.com/h-sc/ui?s=GDX&p=D&b=5&g=0&id=p14909632888&a=540160410

    • On August 18, 2017 at 11:08 am,
      BDC says:

      GLD will likely finish down after breaking the April and June highs (note the trend line stopper). Monday’s retest, or turnaround, will determine its direction for the immediate future.

      • On August 18, 2017 at 1:02 pm,
        BDC says:

        Bearish engulfment on its daily close.

  5. On August 18, 2017 at 10:33 am,
    OOTB Jerry says:

    I thought we would have a great day in silver…….WRONG…….

    • On August 18, 2017 at 10:46 am,
      Matthew says:

      IPT showed us the immediate future for the ETFs as it stayed down for the first half of the day while the ETFs went up. It is doing so again now that it is up 3.13% and the ETFs have given up their early gains.

      • On August 18, 2017 at 11:26 am,
        b says:

        hmmm
        My broker must be wrong, I have ipt opening at 34 and down to 31.
        Prvious close was 32 tho, so not as down as it looks maybe.

        • On August 18, 2017 at 11:31 am,
          Matthew says:

          My point was the spread between IPT’s action (flat to down slightly) for the first half of the day versus the action in the mining ETFs (roughly +3%). The two then swapped places for awhile but now IPT is down again to “confirm’ the move in the ETFs. So maybe the sector chops around for a few days.

          IPT bid/ask right now: .305/.32 (I bought more right in between)

        • On August 18, 2017 at 11:57 am,
          b says:

          aaaand its back up a penny.

          • On August 18, 2017 at 12:00 pm,
            Matthew says:

            And is very well-bid.

      • On August 18, 2017 at 2:53 pm,
        Excelsior says:

        IPT has had some interest brewing over at ceo.ca:

        https://ceo.ca/ipt

  6. On August 18, 2017 at 11:16 am,
    Markedtofuture says:

    “They’re Going Thermonuclear”: Breitbart Declares “War” On The White House

    The love affair between Breitbart, whose former head Steve Bannon was just fired by Donald Trump, just turned to hate, as confirmed by Joel Pollak, a Breitbart Editor, who moments ago tweeted one word:

    http://www.zerohedge.com/news/2017-08-18/theyre-going-thermonuclear-breitbart-declares-war-white-house

    • On August 18, 2017 at 11:54 am,
      OOTB Jerry says:

      Like the guy said…..McMaster, Cohn……are problems……….they are the snakes in the woodpile.

      • On August 18, 2017 at 11:54 am,
        OOTB Jerry says:

        Cohn is a Democrat

    • On August 18, 2017 at 9:34 pm,
      PF says:

      Firing Bannon was a good move. Maybe the only good thing Trump did all week.

      • On August 19, 2017 at 10:08 am,
        OOTB Jerry says:

        Not sure he was fired, if He resigned on Aug.7th……as the story indicates……

  7. On August 18, 2017 at 11:56 am,
    OOTB Jerry says:
    • On August 18, 2017 at 11:57 am,
      OOTB Jerry says:

      on news letters writers and charts on PMs

      • On August 18, 2017 at 11:59 am,
        OOTB Jerry says:

        correction….on PM , phyz charts…..

    • On August 18, 2017 at 12:17 pm,
      OOTB Jerry says:

      no hedgefund manager required…….. 🙂

  8. On August 18, 2017 at 2:19 pm,
    Excelsior says:

    July best global drill intercepts
    Staff reporter- 03 Aug 2017

    Richmont Mines (TSX: RIC) and Anaconda Mining (TSX: ANX) filed exceptionally high-grade gold hits from Island and Goldboro, respectively, in Canada, to finish the month in the top five for drill intersections reporting during the period.

    Richmont’s 4.9m grading 261.46g/t gold from 188.6m at the Island gold mine, and the 2.6m of 485.07g/t from only 33.1m Anaconda recorded at Goldboro were the highest value gold hits outside of Sandstorm Gold’s hot Hot Maden intercept from earlier in the month.

    “Nevsun Resources (TSX: NSU) topped the RSC table for the month with its 265.5m of 6.77% copper (and 3.67g/t gold) during resource definition drilling at Timok in Serbia.”

    “NexGen Energy (TSX: NXE) was similarly resource definition drilling at Rook 1 when it hit 33m of 4.58% uranium oxide from 681.5m.”

    http://www.mining-journal.com/financeinvestment/exploration/july-best-global-drill-intercepts/

  9. On August 18, 2017 at 3:01 pm,
    Excelsior says:

    Personally, I strictly use one criteria when whittling companies down: The ONLY companies I’ll invest in have references to ~animals in their name.

    (ie Hummingbird Resources, Cardinal Resources, Heron Resources, Night Hawk, Condor Resources, Osprey Gold, Jaguar Mining, Great Panther, Great Bear, Bear Creek, Silver Bear, Silver Bull, Bay”horse” Silver, Red Eagle, Glen Eagle, Agnico Eagle, Eagle Plains, Lion One, Copper Fox, Anaconda Mining, Golden Predator, Puma Exploration, Orca Gold, Marlin Gold, etc….)

    If there is no #Animal in the name then I won’t touch it. 🙂

    • On August 18, 2017 at 5:33 pm,
      confused says:

      Ex,
      great advice!
      I use the same criteria when choosing wine.

      • On August 18, 2017 at 5:46 pm,
        Excelsior says:

        +1

  10. On August 18, 2017 at 3:25 pm,
    Markedtofuture says:

    U.S. Has 3.5 Million More Registered Voters Than Live Adults – A Red Flag For Electoral Fraud

    According to a new study of U.S. Census data, America has more registered voters than actual live voters. It’s a troubling fact that puts our nation’s future in peril.

    http://www.zerohedge.com/news/2017-08-18/us-has-35-million-more-registered-voters-live-adults-red-flag-electoral-fraud

    • On August 18, 2017 at 4:21 pm,
      OOTB Jerry says:

      there is your extra Hilly votes……….to bad for her, that her scam has been uncovered.

      • On August 18, 2017 at 5:02 pm,
        Markedtofuture says:

        Interesting how that works.

  11. On August 18, 2017 at 3:39 pm,
    Excelsior says:

    Zinc Breaks Through $3,000 Barrier as Metals Rally Gathers Pace

    August 16, 2017 – Bloomberg News

    https://www.bloomberg.com/news/articles/2017-08-16/zinc-smashes-through-3-000-barrier-as-metals-rally-gathers-pace

  12. On August 18, 2017 at 3:40 pm,
    Excelsior says:

    Uranium Prices: Environmentalists, Scientists Push for More Nuclear Power
    By Leia Toovey – August 18, 2017

    http://www.economiccalendar.com/2017/08/18/uranium-prices-environmentalists-scientists-push-for-more-nuclear-power/

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

      Cryptocurrencies Are The Craft Beers of Money
      Leah Stella Stephens – Aug 18

      “Remember in the past when you went to a liquor store in the US, and all they had was Budweiser and other flavorless crappy beers?”

      “Now when you go to get beer at those same liquor stores, you’re lucky if you can even decide on a beer brand. The variety of beers has exploded and brought small breweries to everyone’s backyard. The monocultured beer era is over and the craft beer revolution has blossomed, bringing with it unique flavors, small batches and immense variety.”

      “I think the same thing that happened to Budweiser is happening to money.”

      “Money now comes in different flavors, textures, philosophies, meanings and styles.
      The most amazing part of digital currency is that it’s programmable. Money has rules, purposes and can represent ideas, futuristic concepts, solutions to problems that have plagued humans since humans began. And it is created according to mathematical rules, not arbitrary decisions by governments.”

      “Digital money has become inextricably weaved into the fabric of ideas. You cannot separate a digital coin from the philosophical foundation on which it rests. (Shitcoins are the only exception.) Money is now alive and we are all free to choose which kind of programmable money we love. I’m a blogger/vlogger/writer, so my crypto beer of choice is Steem….”

      https://hackernoon.com/cryptocurrencies-are-the-craft-beers-of-money-6a25391c7d2d

  13. On August 18, 2017 at 4:03 pm,
    Excelsior says:

    Solid-Gold Toilet to Be Removed From Guggenheim in September
    By Daniel McDermon – Aug 18, 2017

    “America” is over. Or at least it will be on Sept. 15, when the exhibition of that name closes at the Solomon R. Guggenheim Museum after a one-year run.

    “It has been one of the smallest exhibitions in the museum’s history, comprising a single work of art: a fully functional 18-karat gold toilet, designed by the puckish Italian artist Maurizio Cattelan and installed in a single-occupancy museum restroom. But it has been popular with visitors, some of whom waited in line for an hour to test its metal.”

    “More than 100,000 people have waited patiently in line for the opportunity to commune with art and with nature,” wrote Nancy Spector, the Guggenheim’s artistic director and chief curator, on the museum’s website.”

    https://www.nytimes.com/2017/08/18/arts/design/solid-gold-toilet-to-be-removed-from-guggenheim-in-september.html

  14. On August 18, 2017 at 5:39 pm,
    confused says:

    That’s some good crap. He is a funny artist always takin the piss. He’ll get the last laugh as it will sell at Christies for several million more than it cost to make it. I guess Donald Dump will probably want another for his bunker.

    • On August 18, 2017 at 5:41 pm,
      Excelsior says:

      +1

  15. On August 18, 2017 at 5:40 pm,
    Excelsior says:

    (BBB) (BXTMF) Brixton Metals Samples 16% Cobalt and 182,065 g/t Silver at Langis and Provides an Update on Its Projects
    (Marketwired) – August 17, 2017

    > 2017 Langis-Hudson Bay Ag-Co Project, Ontario

    “Following the acquisition of the Penna lands from Agnico at the Langis site, four rock grab samples from the Penna #7 shaft dump area were submitted for analysis. The table below provides details which returned up to 18% silver and 16% Cobalt. Samples contained abundant native silver.”

    >.Thorn Project Soil Results

    “Using a 100 ppb cut off for the soil results, 69 samples are greater than 100 ppb Au, 44 samples are greater than 200 ppb, 28 samples are greater than 400 ppb, 12 are greater than 800 ppb with the two highest samples being 4,900 and 6,920 ppb Au.”

    >>> “Geological Mapping at the Chivas Zone Identifies a New Copper Trend at Thorn. Mapping was successful in identifying a 115m by 1200m open-ended corridor of copper mineralization with up to 1.14% Cu and 2.15 g/t Au from surface rock sampling. The best values from rock grab samples were 4.49 g/t Au, 4.38% Cu and 443 g/t Ag.”

    http://www.marketwired.com/press-release/brixton-metals-samples-16-cobalt-182065-g-t-silver-langis-provides-update-on-its-projects-tsx-venture-bbb-2230645.htm

    • On August 18, 2017 at 5:44 pm,
      Excelsior says:

      Silver, Cobalt, Gold, Copper….. (BBB) Brixton has nice exposure to all of it. 😉