The USD Breakout That Was Short Lived
On my chat today with Craig Hemke we focus on the USD and silver charts. On a daily chart of the USD we were watching a reverse head and shoulders pattern that broke out in late October. That breakout was short lived as USD has now pulled back below that breakout level – see the chart below. We also look at the silver price which has been held consistently below the 50 day MA.
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Clinton slams possibility of Uranium One investigation
Nov. 16, 2017 – 5:39 – Reaction on ‘Hannity’ from ‘Clinton Cash’ author Peter Schweizer.
http://video.foxnews.com/v/5649655118001/?playlist_id=930909813001#sp=show-clips
Potential problem ahead………………
http://www.zerohedge.com/news/2017-11-16/why-americas-retail-apocalypse-could-accelerate-even-more-2018
Walmart should be on the blame list also……….
Someone needs to be in Jail…….money laundering ………..
http://www.zerohedge.com/news/2017-11-16/after-slamming-bitcoin-money-laundering-tool-jpmorgan-busted-money-laundering
Ethereum Cryptocurrency – Almost $400 Million Vanishes
Thanks to a string of screw-ups and bugs, an unsuspecting developer recently took possession of an estimated $US390 million worth of the Ethereum cryptocurrency by accident. In an attempt to give back the money, however, the guy ended up locking up the funds permanently. Essentially, the money has just evaporated.
A World of CON MEN………… what a joke…… how about a little more prison time….no because they are the scum that circulates thru DC….
Jerry:
This is not true. Nothing “vanishes’ from the blockchain. They will do another hard fork and re-issue the tokens.
They have already done this before. The word is immutability.
This is why Bitcoin is the “BIG DOG”
Bitcoin and Ethereum.
http://media.safebee.com/assets/images/2015/3/big%20vs.%20small%20dog.jpg.838x0_q67.jpg
At last!! Marlin shareholder will get shares in the new spinout company with the royalty and streaming deals they hold under Sailfish Royalty. Nice!
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$MLN $MLNGF – Marlin Gold Announces Plan of Arrangement and Shareholders’ Meeting Date
“The Arrangement involves, among other things, the distribution of common shares of Sailfish Royalty Corp., currently a wholly owned subsidiary of the Company, to the Shareholders on the basis of one SpinCo Share for every five common shares of the Company (each, a “Marlin Share”).”
“SpinCo holds the Company’s interest in the gold stream agreement with Golden Reign Resources Ltd. on its high grade San Albino gold deposit in Nicaragua and has entered into an agreement to acquire a 3.5% royalty on revenues derived from the sale of gold on Eldorado Gold Corp.’s advanced stage Tocantinzinho gold project, subject to completion of the Arrangement and certain other customary closing conditions. The Arrangement has been proposed in order to
facilitate the separation of all of Marlin’s rights and interests in the SA Gold Stream and TZ Royalty from the La Trinidad Mine and other mineral exploration assets which Marlin will continue to own and operate following the Arrangement. The board of directors of the Company believes that the creation of two separate public companies, one a growth-oriented gold and silver mining company focused on the Americas (Marlin) and the other a yield-focused royalty company (SpinCo), will enhance their respective business operations, provide
Shareholders with additional investment choices and flexibility, and unlock the value of Marlin’s royalty portfolio.”
http://www.marlingold.com/News%20PDFs/2017/2017.11.16_NR.pdf
(MTO) (MEAOF) METANOR HITS MULTIPLE GOLD-BEARING SHEAR ZONES AT BARRY; INTERCEPTED 14.5 G/T OVER 2 METRES
November 15th, 2017
Osisko Mining Drills 2.0 Metres of 204 g/t Gold at Windfall Lake Project
Wow. That’s a bonanza hit from Osisko there. I was impressed with their neighbor Metanor’s hit, but this Windfall Lake area play is really getting interesting.
So who is up to bat next Bonterra? Beaufield? Secova?
Bring it on!
Bonterra stock has had nice run. Osisko has had great drill results but stock has sold off.
Nobody said these were rational markets 😉
As we’ve noted on here a few times, investors seem to be more animated by companies at really early stage grass roots exploration to initial drill hits, but are presently shrugging off companies that have proven they have the goods but continue to keep hitting. Same thing with producers that have been hitting great additional exploration results that are expanding their resources.
Speculators in the Jr miners are getting behind unknown potential versus more proven ounces in the ground growth stories.
This will likely always be true, but as the underlying commodity prices increase, and investors get their head screwed on straight, then they’ll realize advanced stage developers or existing producers that are hitting good to great drill intercepts can monetize those results; where as 99% of most Exploration projects will NEVER be a producing mine.
For shorter term thrills I love the speculation around exploration but they are often followed by shorter term spills. For longer term value accumulation, I like companies that are adding to deposits that can actually be mined to produce revenues. Maybe it is an old-fashioned idea, but I like looking for companies that can one day turn a profit.
This presentation from Joe at the MIF illustrates this point well:
Joe Mazumdar “Exploration Trends”
Metals Investor Forum – Nov. 2017 #VIDEO
PROFITS. We don’t need no stinking profits!!!😉
Stinking Badges
Lowest Volatility in History For Gold Miners
by @Goldfinger on November 16, 2017
https://ceo.ca/@goldfinger/lowest-volatility-in-history-for-gold-miners
Reposting this presentation from Greg McCoach from the recent MIF. Very balanced presentation and a nice summary of Gold, Uranium, Cryptos, and Money Supply.
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Greg McCoach “Looking for A Catalyst”
Metals Investor Forum – Nov. 2017 #VIDEO
Gold, Interest Rates and Super Cycles
By James Rickards – November 16, 2017
“When the Fed raised interest rates last December, many believed gold would plunge. But it didn’t happen.
Gold bottomed the day after the rate hike, but then started moving higher again.
Incidentally, the same thing happened after the Fed tightened in December 2015. Gold had one of its best quarters in 20 years in the first quarter of 2016. So it was very interesting to see gold going up despite headwinds from the Fed.
Meanwhile, gold has more than held its own this year.
Normally when rates go up, the dollar strengthens and gold weakens. They usually move in opposite directions. So how could gold have gone up when the Fed was tightening and the dollar was strong?
That tells me that there’s more to the story, that there’s more going on behind the scenes that’s been driving the gold price higher.
It means you can’t just look at the dollar. The dollar’s an important driver of the gold price, no doubt. But so are basic fundamentals like supply and demand in the physical gold market.”
https://dailyreckoning.com/gold-interest-rates-super-cycles/
Was thinking to myself today, “Its Thursday, Dang I hope Cory has Turd on Today!!”
Kereport ROCKS!
Till that happens…….. Jesus, I’m tired of this shit.
All the chart analysts that are focused on all kinds of patterns are overlooking the fact that the “algos” are “analyzing” millions more possibilities of the same patterns. The algos are not smart but they do recognize points where the chartists become “suckers” to their paradigms and what they view as trading histories.
The algos will spoof and probe and take the pennies that they can. A penny here, a penny there and on and on and on and they will suck a good portion of the “profit” out of the move (whether up or down). The human trader misinterprets this as a failure while it was just a bunch of algos sucking out the energy and minuscule profit that was actually the threshold breakout energy to move to the next sustainable band (whether higher or lower). Human traders are bled by thousands of mosquitoes (algos) that run the fractal possibilities of trade spreads down to the millipennies over and over till the human traders don’t know what’s what.
The algos don’t know fear, they don’t know greed and they can’t be swatted. They exist in a virtual world that only has passing familiarity with the real world. Quite often these two worlds are closely connected but when they are not, they are NOT BIGTIME. The algos are not going to care because they will continue to spoof and probe and try to pick up pennies in front of the steamroller because they have no understanding what a steamroller is. Human traders are becoming too influenced by these hyper demons.
I guess you can say that one of the “good” things the algos are doing is trashing some of the more questionable knowns that traders take as gospel. But when the algos run into hard reality versus their “virtual reality”, it is going to be something to watch. I think the algos will go insane and our markets become unmanageable to put it “very, very mildly”.
Now the question is what is the “reality” that is going to drop kick the algos in their version of their nuts.
If you want to be a trader……. fine. But you better accept the above if not as reality then as a possibility. In the meantime stack at least a portion in physical under your control and run a really tight financial ship. The time is coming where “The only winning move is not to play”.
JohnM, “I think the algos will go insane and our markets become unmanageable tp put it “very, very mildly.” Do you mean as in forced selling. Anyway I like your reasoning. DT
I think the number and frequencies of the flash crashes and flash melt ups will increase. Suddenly there will be a whole bunch of them and then just as suddenly they will disappear. This will ripple into other adjacent markets. Then this will happen again but more violently.
Then there will be mini lock downs and curbs. Until the “Grand Corralito” takes place and reopening a market will not even be possible with any type of algos being allowed since they will be so destabilizing.
The period of time within which these things happen is, I think, unknowable. The speed of the algos and the time it takes for humans (with their complex greed/fear balance) to intervene is a big factor. Also the hubris of the “Masters of the Universe” thinking that they are in control against the stupidity (dare I say autistic type of thinking) of the algos create an unnerving situation.
Just my opinion. I’m already in the “The only winning move is not to play” camp. But I’m older and more paranoid. 🙂
Nice Drill Intercept: https://web.tmxmoney.com/article.php?newsid=6178062180615337&qm_symbol=MEX
Callinex Mines Drills 1.9 Metres of Massive Sulphides Grading 8.0% Zinc Equivalent at Superjack Project
Teranga Gold Drills 15 Metres of 5.72 g/t Gold at Golden Hill Property
IAMGOLD Drills 34.5 Metres of 4.50 g/t Gold at Saramacca Project in Suriname
Silver Surfer 🥈@SLVSurfer
“The forgotten metal, platinum. Like the look of this chart. $PL_F $PPLT”
https://twitter.com/SLVSurfer/status/931490673592815617?s=09
Gold clings to weekly gain, as dollar pulls back
Published: Nov 17, 2017
Uranium One deal informant sued to recoup more than $700K lost in bribes
A FBI informant who gave the government information about a Russian bribery plot implicated in the sale of U.S. uranium rights tried unsuccessfully last year to recover upwards of $700,000 in bribes he said he was authorized to pay as part of the FBI investigation.
William D. Campbell has emerged now as the key figure in a congressional probe into Russia’s 2010 purchase of U.S. uranium rights and then-Secretary of State Hillary Clinton’s role in approving the deal.
His identity had been shielded for weeks, but court records obtained by The Washington Times, as well as a report by Reuters, identified the man.
Mr. Campbell has not returned calls from The Washington Times seeking comment, but his civil suit, describing his involvement in the FBI investigation, matches details of the criminal case brought against Vadim Mikerin. Mikerin, who was the head of U.S. operations for Tenex, a subsidiary of Russia’s atomic energy giant Rosatom, was convicted of money laundering and other crimes and in 2015 sentenced to four years in prison.
The Senate Judiciary Committee, House Intelligence Committee and House Oversight Committee have all begun to probe the circumstances of Rosatom’s purchase of Canadian mining companyUranium One, which had mining rights in the U.S. Investigators have questioned whether the American agencies that signed off on the sale, including the State Department, were ever made aware of the FBI’s ongoing investigation of Mikerin and Tenex.
https://www.washingtontimes.com/news/2017/nov/16/uranium-one-deal-informant-sued-recoup-more-700k/