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Here’s What Doc Is Looking For Over Summer

Cory
May 24, 2018

Doc and I review the moves in the PMs, USD and oil. We focus on the short term moves as well as some of the monthly charts to point out key levels and indicators to watch.

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Discussion
37 Comments
    CFS
    May 24, 2018 24:01 PM

    Don’t majors lead?

    May 24, 2018 24:39 PM

    Doc, what is your out look for Ademera (DDNFF) and Bonterra (BONXF)

      May 24, 2018 24:30 PM

      Pardu, Adamera appears pretty washed out technically and the BBs are narrowing on the daily chart while the weekly looks like it could see a jump in the near term. After that it’s anyone’s guess. I otherwise don’t know much about the fundamentals of the company. I don’t particularly like the monthly chart on Bonterra at this time—-it could be that the company trades in a defined band by the weekly BBs that are narrowing but it could also move lower to test the 200 week SMA in the future. If it happens to move lower it could settle around 35-40cts on the venture exchange (BTR.V)

    May 24, 2018 24:51 PM

    While I don’t always agree with Doc, I suspect he’s spot on regarding the gold price – I think it’s going to trend in a range for a few months, however that’s kind of when you should buy it, because if it takes off you will be too late

      May 24, 2018 24:02 PM

      Ditto……..and I agree………

      May 25, 2018 25:13 AM

      Agreed Nigel.

      I’m mostly stocked up on the Gold & Silver miners now, but will be deploying all my remaining dry powder and any other funds I can raise during this Summer period.

      Once in a while I’m still swing-trading around my core position certain stocks, but I believe this fall will see an explosive move to the upside in the PM miners, and things will really get going in the Q1 run of 2019.

      There is often a strong seasonal rally coming out of late August into September and things look set up for us to see that again this year.

      Cheers!

      _______________________________________________

      > Gold Futures – 20 Year #Seasonality Chart ending 12/31/2015

      http://charts.equityclock.com/seasonal_charts/futures/FUTURE_GC1.PNG

    May 24, 2018 24:14 PM

    Doc, while you were gone I got carried away yesterday and bought GIS@42, yielding 4.7%
    It started in 1866 and has paid a dividend every year since 1928. How low do you think it could go?
    I recall an ad from the 1950’s that said more doctors recommend Camels than any other brand. Is that the brand you recommended?

    May 24, 2018 24:35 PM

    BB, I wouldn’t be surprised to see GIS settle in at the 35-40 dollar level before the carnage is over. I recommended Pall Mall since I told my patients that on inhalation they would probably get more nicotine that would then clean their lungs out quicker then Camels would. Needless to say, I was wrong.

      May 24, 2018 24:20 PM

      Well if GIS goes to 35 I hope to buy a lot more. Should we buy BTI as they sell Pall Mall, Camels, Kent, Viceroy, Lucky Stirke(LSMFT), Kool, Newport, Rothmans, and Dunhill and is yielding over 5% ?

    May 24, 2018 24:57 PM

    Simple question for ya Doc: Do you think gold will pierce and hold the often mentioned $1360 area before the years out?

    May 24, 2018 24:07 PM

    Mr. Cory,

    Is there a video of the panels you hosted?

    May 24, 2018 24:21 PM

    Just a bounce for gold? I doubt it but a strong close tomorrow would be very helpful…

    http://schrts.co/o6oWpg

    May 25, 2018 25:24 AM

    Hi Matthew –

    I don’t have the ability to post the chart with annotation in Stockcharts, but if you draw an andrews pitchfork on the ISVLF daily chart starting at the December low with the second point on the mid-April high and the third point on the May low, it looks pretty plausible that the bottom is in or close to being in. The closing today should be interesting.

      May 25, 2018 25:18 AM

      Hi Charles, I agree. It is very plausible that we have already seen the low — despite USD pressure today.

      http://schrts.co/a1awwN

        May 25, 2018 25:05 AM

        Thanks for posting the chart. Another one that is looking interesting to me is Dolly Varden (looking at the American version DOLLF). It closed a gap daily formed back in August 2017 and touched the lower bollinger band on the weekly and is holding above the 200 week moving average. It probably needs a few more weeks of basing/consolidation, but one I am watching closely and might put some additional capital in soon.

          May 25, 2018 25:35 AM

          Yes, it looks well-supported in the low .40s as long as the whole sector doesn’t run into trouble…

          http://schrts.co/FYXNjK

      May 25, 2018 25:19 AM

      UUP (bullish USD fund):

      http://schrts.co/s65ANG

    May 25, 2018 25:39 AM

    Head Bump again………. $1307.80…………..hurdle and a worn out runner…..

      May 25, 2018 25:44 AM

      runner must be worn out and tripped because Gold is back down to $1303. 😉

        May 25, 2018 25:11 AM

        What’s Next for Gold…

        by @TheDailyGold on May 22, 2018

        https://ceo.ca/@thedailygold/whats-next-for-gold

          May 25, 2018 25:19 PM

          strong technical support could produce a rebound. In the meantime we continue to focus on and accumulate the juniors that have 300% to 500% return potential over the next 12 to 18 months. To follow our guidance and learn our favorite juniors for the balance of 2018, consider learning more about our premium service.

            May 25, 2018 25:20 PM

            Looks like running for the mine shaft…..is the place to hide……. 🙂

            May 25, 2018 25:22 PM

            Getting ready of a LONG WEEKEND…………Racing around the clock, here in INDY….
            The Greatest Sports event in the World. Indianapolis 500……….JMO

    May 25, 2018 25:02 AM

    It looks like to me that gold stocks are going to begin outperforming gold given the number of breakouts that are starting to pop in the gold stocks. That is consistent with the gold silver ratio seemingly topping. Juniors and specifically the junior silvers should outperform IMHO. That doesn’t mean gold has bottomed and my guess is it may languish for a little while. I am sure there will be many fits and starts along the way to keep the sheeple at bay and confused.

    May 25, 2018 25:26 AM

    I agree again.

    GDXJ:GLD
    http://schrts.co/4bSxAo

    May 25, 2018 25:50 AM

    Today’s pullback looks healthy but a positive close would be nice.

    GDXJ 2 hour:
    http://schrts.co/zeiVzT

      May 25, 2018 25:46 AM

      If we get a positive close today it will likely be on light volume given lighter pre-holiday volume. I betting next Monday or Tuesday might be the day. It would be the perfect set up especially if it happened on Monday with the market closed in the U.S. It would maximize the most people getting left behind for the next move up. Mr. market would like that.

        May 25, 2018 25:04 AM

        You’re probably right. The odds don’t look good for a turnaround today.

    May 25, 2018 25:52 AM

    Taiwan loses second ally in a month as Burkina Faso cuts ties

    May 24, 2018 – Thiam Ndiaga, Jess Macy Yu

    https://af.reuters.com/article/topNews/idAFKCN1IP1V4-OZATP

    May 25, 2018 25:54 AM

    Cobalt price: Congo ebola outbreak compounds acute supply fears
    Frik Els

    http://www.mining.com/cobalt-price-congo-ebola-outbreak-compounds-acute-supply-fears/

    May 25, 2018 25:55 AM

    The Philippine Department of Energy has asked President Rodrigo Duterte to fast-track the process and issue an executive order declaring the country ready for a nuclear power program. With an economy growing as fast as China’s – at 6.8 percent in the first quarter – Manila’s energy consumption is expected to triple to 67,000 MW by 2040. Some hope they can revive the Bataan Nuclear power plant that was built during the Marcos regime. Coal fuels half of the Philippines’ power grid, with natural gas and renewables each accounting for over one-fifth and oil the rest.
    https://news.cgtn.com/news/3d3d414e346b6a4e77457a6333566d54/share_p.html

    May 25, 2018 25:40 AM

    Loonie shakeout…

    http://schrts.co/zWiMnQ

    May 25, 2018 25:11 PM

    On the Fed -and the Greenbackers, Tom Woods nails it…

    Everyone Is Wrong About Money Except the Austrian School

    https://www.youtube.com/watch?v=R18aEsgAzfc