Byron King – Fri 10 May, 2019

Comments on insider buying in the metals sector and a look into the recent Integra Resources drill results

Byron King, Editor of the Gold Speculator joins me today to discuss a couple companies as well as the insider buying that we are seeing in the resource sector. We start with the insider buying of stocks. While this is usually a good sign it is important to note that in some stocks the insiders are the only bid. We then move into a recap of the Integra Resources drill results that seemed good on paper but did not benefit the stock. To wrap it up Byron also shares a recent conversation he has with the team over at First Mining Finance.

Please comment or email if you would like Byron and I to look into any other stocks that you are interested in or holding –

  1. On May 10, 2019 at 10:44 am,
    OOTB Jerry says:

    Insider should start buying……and unload…… 🙂

  2. On May 10, 2019 at 10:46 am,
    OOTB Jerry says:

    Buyers are waiting, and waiting, and waiting, and then they are waiting , and waiting…

  3. On May 10, 2019 at 10:47 am,
    OOTB Jerry says:

    Great comments from Byron…..appreciate…….

  4. On May 10, 2019 at 10:54 am,
    spanky says:

    GCC:$indu made a new all time low this week. This, AFTER the Fed ended QT and rate hikes in December ’18. You won’t be allowed to lose in real terms investing in the Dow. It won’t happen,

    The peak in GCC:$indu in December 2018 probably won’t taken out for years or maybe even ever. It won’t be allowed to happen.

  5. On May 10, 2019 at 11:02 am,
    b says:

    Mentions ubar, $45 a share and havnt made a dime and a good chance to go broke.
    But they dont want gold, shows ya how much people like gold.

    Armstrong,Dent, so far they look like they could know something.
    Spanky hasnt been getting trolled either. lol
    Gotta be a good time to buy.

    I was wrong last time but Im still thinking we move up after the doldrums.

    We will see I guess but when the market crashes, if it does, everything will get sold off, naturally that will happen just as we leave the doldrums.

    Maybe gold is gonna need the Russians and Chinese to start backing their currecny in gold or settling up trade in gold etc

    Course because the west sold all their gold they will confiscate. lol

    • On May 10, 2019 at 11:29 am,
      spanky says:

      People keep talking about a crash. Give me a break. Did you see what the Fed engineered since December 2018? How can you have any doubts anymore about the Fed or the US stock market. And if the Dow crashes, which it won’t, commodities will drop more, so you will still come out ahead in real purchasing power terms.

      • On May 10, 2019 at 11:32 am,
        OOTB Jerry says:

        Just ONE BIG SCAM………….

    • On May 10, 2019 at 11:35 am,
      Matthew says:

      Funny, I don’t recall spanky ever getting trolled but it’s definitely a good time to buy for anyone looking to hold beyond the short term.

      • On May 10, 2019 at 12:01 pm,
        spanky says:

        This is an extremely ambiguous statement–“beyond the short term.”

        Do you mean the miners are a long term buy and hold, as in for gains for years to come?

        Or do you mean you can potentially make 10-20% within a month or two and then get ready to sell?

        We have been making lower lows and lower highs for 3 years. That’s a bear market in any sane person’s world. Why are you telling people to go long in a bear market? For a quick trade? Because the bear market will end soon? If so, what evidence is there?

        • On May 10, 2019 at 12:10 pm,
          Matthew says:

          I’m not telling anyone to do anything; I’m sharing what I believe. I’m not going into everything that I look at but there is still good reason to think that gold bottomed in 2015 and that the upside potential is far greater than the downside potential. One can always use sell stops if they want to take a shot at bottom-calling without a “buy and hold” mentality.

          • On May 10, 2019 at 12:23 pm,
            spanky says:

            We could be trending down for another 3 years and still be above the bear market lows of 2015. You still have at least a confirmed cyclical bear within a *potential* secular bull. Saying we have a secular bull is a stretch. You need to make a higher high to confirm a bull trend, and we haven’t come close to that yet.

            Nothing would shock me at this point, but you might have to wait years before the 2016 peak is taken out.

          • On May 10, 2019 at 1:11 pm,
            Matthew says:

            Re: “might be years before the 2016 peak is taken out” – I don’t buy that for a second.

            Saying that we’re in a secular bull is less of a stretch when you consider that secular bulls contain cyclical bears.

            2016 was a once-in-a-generation year for the miners and a shot across the bow to the bears. The action since is no fun but not surprising (see Newton’s third law). When such moves aren’t fully retraced, they tend to take more time (markets scare you out or wear you out).

  6. On May 10, 2019 at 11:34 am,
    larry says:

    All have a great and restful weekend if you can……out!


  7. On May 10, 2019 at 11:35 am,
    spanky says:

    Since the Fed ended QT and rate hikes in December, the USD broke out and is well above its December peak. That makes ZERO sense in any world. That is the investment reality we are dealing with. Up is down, down is up–nothing matters.

    If $gold:$indu takes out its December peak, I will be wrong. But I can’t see it. The more money they print, the lower hard assets go relative to US stocks.

  8. On May 10, 2019 at 11:39 am,
    Matthew says:

    GDX is still up 3% versus SPY since Monday…

    • On May 10, 2019 at 11:41 am,
      Matthew says:

      …but I still think GDX is heading below $20 soon…

      • On May 10, 2019 at 11:54 am,
        spanky says:

        When you get bearish, it’s time to really get scared.

        The 2016 peak seems like another lifetime at this point.

        It’s depressing stuff.

        • On May 10, 2019 at 11:59 am,
          Matthew says:

          Right now, I’m only short term bearish. It looks like an important low is coming very soon.

          • On May 10, 2019 at 12:04 pm,
            spanky says:

            Well yes, of course, nothing goes down in a straight line (except SIL and HL), and of course AT SOME POINT, we will get the obligatory 10-20% rally in GDX to reset sentiment. And with all due respect, you have been saying the same exact thing for years. yes, we have gotten bottoms, but the problem is they are going lower and lower, and the highs are also going lower and lower, you know, a bear market.

          • On May 10, 2019 at 12:17 pm,
            Matthew says:

            With all do respect, I was appropriately bullish last fall and sold into strength as usual (not everything, of course). I did think it might have one more push to the upside but the fact that we didn’t is ok.

          • On May 10, 2019 at 12:26 pm,
            spanky says:

            well all I am saying is should make that clear (i.e., sell into strength).

            In no way can anyone with a good conscience suggest the miners or gold are in a new bull market yet and are a solid long term buy and hold. There is absolutely no basis for that yet. There is plenty of evidence for the opposite though.

          • On May 10, 2019 at 12:38 pm,
            spanky says:

            AUY is in all likelihood headed to $1.50. It broke a H&S top last year that projected that low. I was hopeful that that target wouldn’t get hit, but it appears all the recent rally did was backtest the neckline. I wouldn’t even consider going long until it gets down into that range, which at the pace it is tanking at should take a couple of weeks.

          • On May 10, 2019 at 12:56 pm,
            Matthew says:

            Most of the buy and hold crowd should steer clear of this sector, bull market or not. Too much can go wrong. In fact, most people should steer clear of running their own money regardless of the sector. Most people sell lows and buy highs and start with no plan whatsoever.

        • On May 10, 2019 at 12:01 pm,
          Matthew says:

          As you pointed out very recently, gold is holding up…

          • On May 10, 2019 at 12:18 pm,
            spanky says:

            We will know soon enough its fate.

            But I think the October 2018 low in the $gold:$indu chart gets taken out before the December 2018 peak gets taken out. I think the ratio going to trade withing those two points for some time though, so it will take a while to play out. But who knows.

          • On May 10, 2019 at 12:26 pm,
            CaliJoe says:

            Barrick is getting close to that gap around $11.87 but I have a feeling, it will be trading in single digits in not too distant future. With Barrick acting this way, GDX is not going anywhere quick either.

            That will be the time to back up the truck.

          • On May 10, 2019 at 12:43 pm,
            spanky says:

            Yeah, $1 for Barrick sounds about right. I have a feeling.

          • On May 10, 2019 at 12:46 pm,
            spanky says:

            EXK will likely close its gap at $1.37. What’s another 50 cents?

            Just outstanding stuff.

          • On May 10, 2019 at 12:53 pm,
            spanky says:

            Lovely black candle in GCC after torid, historic selling. Just what we want to see. I’m sure we’ll get a “tradeable bounce soon.” But don’t expect it to do much.

  9. On May 10, 2019 at 11:46 am,
    Matthew says:

    About 145 is next for the HUI…

    • On May 10, 2019 at 12:30 pm,
      CaliJoe says:

      I have a feeling, we will soon have trade-able lows in the miners. Don’t expect them to do much though,

      • On May 10, 2019 at 12:42 pm,
        spanky says:

        It is SO EASY to say that now. Yeah, “a tradeable low,” after getting hammered below support for weeks on end. But they won’t “do much.” That’s genius!

        I mean, they aren’t going to do down forever? Or in a straight line? Wow.

        • On May 10, 2019 at 12:52 pm,
          CaliJoe says:

          Rinse and repeat operation for Miners, haven’t you learned that yet?
          Who buys miners for long term investment.. not me. I like to trade them when you see large moves happening.

          • On May 10, 2019 at 1:10 pm,
            spanky says:

            Trying to catch counter trend rallies is dumb, bull or bear.

            If you think it is a bull market, then buy and hold will work,

            There is no reason to “trade” this sector from the long side currently. The miners are in a confirmed cyclical bear market. you short strength.

      • On May 10, 2019 at 12:52 pm,
        Matthew says:

        No, I don’t expect them to do much but few do when a strong move starts. Falling sharply from February to May could upset the seasonal pattern.

  10. On May 10, 2019 at 1:12 pm,
    OOTB Jerry says:

    How long has it been since James the long……was ticked off, when silver ,that he was holding was stuck at $15.00…..Wonder how his law suit is going …..

    • On May 10, 2019 at 1:19 pm,
      OOTB Jerry says:

      or was that James the Lessor

  11. On May 10, 2019 at 1:26 pm,
    marco says:

    May I say …I DO HATE Gold and Silver stocks???? They are just SUCKERS money machines.
    Since 2011 ,apart from the short so called “baby bull” in 2016, they are trending down and down,and all these “guru” clowns that keep telling us to buy buy buy and that gold is “money” and it will ,a day, return to a monetary relevance…..maybe…but when we will all be DEAD!

    • On May 10, 2019 at 1:49 pm,
      spanky says:

      Actually, upon making a lower low last fall in the miners, most stubborn longs should have sold everything into strength, as a cyclical bear market was clearly confirmed. We aren’t even range bound. We are in a crystal clear cyclical bear market. All that remains to be seen is whether the secular bull is dead or alive. And it could be YEARS before we find that out. Trading the miners from the long side between now and then is for suckers only, IMO. It’s an uninvestable sector right now due to the confusion. Just short strength for now due to the fact that the miners are making lower highs and lower lows.

  12. On May 10, 2019 at 1:27 pm,
    spanky says:

    CoT commercial shorts in gold exploded higher despite gold only being up $10 off the lows. At this point, I don’t think there is any way in hell the $1267 swing low holds. Even if gold stays above the swing for a little while, a $20 down move is going to destroy the miners, much less a break below that level.

    As always, I am going to hold through this carnage. But I there is absolutely nothing to be bullish about medium and longer term, technically speaking. The miners are without a doubt in a cyclical BEAR market. It is undeniable at this point. Trying to catch a counter trend move is just stupid.

    The only reason I continue to hold is I still hold out HOPE (and nothing more) that a secular bull is still in play. Additionally, if I lose it all, it’s not going to change my life at this point. Add to that, I refuse to play the conventional US markets because I still don’t trust them, despite the miracle that the Fed has engineered over the last 10 years.

    Sorry for my pessimism. I really am. Over and out. I am taking another break and won’t be back this time until the HUI clears 200. TBH, I am not even sure that will happen in my lifetime.

    Good luck to everyone here. Over and out.

    • On May 10, 2019 at 2:01 pm,
      Matthew says:

      I still like Rick Ackerman’s 1262.xx target. This would give us a backtest of the rising 600 week MA which was reacquired in December (now 1263.xx).

  13. On May 10, 2019 at 1:57 pm,
    OOTB Jerry says:

    Blast from the past…..

    On June 21, 2012 at 4:59 pm,
    John W. Robertson says:
    March through June is not my hold period. Neither is March through November. I’m thinking 2020, at the earliest. So it is a good buying opportunity.

    On June 22, 2012 at 4:37 am,
    Jerry O^OTB says:
    Hope we are still around in 2020…….but, that is only 8 years….so, maybe….
    I will have to get a job, and re-retire….if this keeps up…..

    On June 22, 2012 at 3:17 pm,
    Big Al says:
    Gotta tell you, In the Box, I hope neither of us have to get a job again!

    Big Al

  14. On May 10, 2019 at 2:17 pm,
    OOTB Jerry says:

    Price of Silver back in June 2009……….$15.14………what a joke…..

    • On May 10, 2019 at 3:01 pm,
      b says:

      What I find funny is anyone saying as much at that time was ridiculed big time around here.
      Well, we got a couple of bumps since then.

      We still have far more supply than demand, I dont think charts are required to figure out which way the price is going, still, we could get another psychological everybody gotta have some events.

      Eventually you would think demand would grow stronger than supply can handle.

      There has been a couple really big finds recently tho and novo could get big, seabridge and tower hills could come online,pebble beach, yickes we have a looong way to go for demand to catch up to supply.

      I havnt even mentioned half of them, but its To The Moon any day now.

      So funny, we can always go to plan b “We bought it for the kids.”

      • On May 10, 2019 at 3:06 pm,
        OOTB Jerry says:

        In 2012 … was $27………James Turk was pounding the table, have not seen he here for a long time…..

        • On May 10, 2019 at 3:07 pm,
          OOTB Jerry says:

          THis was after it rolled over….from $49…..

          • On May 10, 2019 at 3:11 pm,
            OOTB Jerry says:

            I think , I have mentioned, but, I am not getting excited until it hits $22…..
            Just concentrating on gold and platinum….and real estate…and a get away plan…. LOL

  15. On May 10, 2019 at 2:18 pm,
    OOTB Jerry says:

    Remind me to reread…….silver…..

  16. On May 10, 2019 at 6:04 pm,
    mineralsrmoney says:

    I heard that BK is no longer with Agora as of today. Anyone else hear this?

    • On May 13, 2019 at 7:09 pm,
      Rand says:

      Yes. Porter Stansberry and Co have ceased Byron’s employment. I find most of these “newsletter writers” to be quite detestable. Not all of them….but many. I have a strong distaste for anything and everything that comes out of that Agora / Stansberry / Casey / Oxford Club universe.