A Look At Risk Tolerance In The US Markets
Chris Kimble switches stuff up a bit with his charts this interview. In the first chart we want to hear what your trading strategy would be. The following charts more broadly look at the US markets and balance the risk tolerance and overall optimism/pessimism of investors.
Please comment or email Chris (kimblechartingsolutions@gmail.com) and I (Fleck@kereport.com) to share your thoughts.
Click here to visit Chris’s site and at least sign up for his free email list.
OCY, PERHAPS
Oops, OXY
Not OXY, HAL, or SLB but similar.
OK I will play while waiting: The top mystery chart…Hard to decipher but I see nice AB=CD down since 09 top….Since bottom in 97 it has undergone a laborous slow controlled pullback of about .382…Frozen here it would qualify as a Gartley buy…If on the daily chart RSI(14) divergences exist between the first low and following lows it is showing strength into lower lows…If it has completed 7 waves down on daily and or weekly it is showing proper over extenson or extreme move…If it has hit swing lows or gap/open windows with less volume the sellers are vanishing…And, and accumulation on low volume may ensue…If it is below TAS support on weekly I would want to see it close above its first TAS profile with volume and a bullish reversal candle or pattern such as a morning star formation…Then I would wait and buy its first pullback using similiar reasoning…But at this stage I would use also Tom Demark support trendlines to enter with…Short of bullish news there is no rush here to accumlate…Other minor stuff like trend lines and moving averages and Price oscillator/ Oscillator unchanged lines being above or below zero do matter a lot..
OK safe trading..looks like if /ES closes over2937 we head to 3012 a Tom Demark Resistaance line on the 120 minute chart
Despite its huge back-from-the-dead move in Q1, I’ve continued to buy SGN on weakness and it now looks ready to make another move higher. Considering its prospects, C$7.3M seems cheap to me.
https://stockcharts.com/h-sc/ui?s=SGN.V&p=W&yr=3&mn=11&dy=0&id=p52235718628&a=659712508
I would not touch GE on the buy side it is way too early…The daily chart looks like 3 waves down and the last one was wide ranging albeit on lighter volume…minimally it retests the recent high volume low…More likely it does a 1.272 expansion(minimally) of that 09 low and 16 high back to the downside while completing its wave count and while on smaller ideally doji candles..Then wait for a bullish reversal candle or reversal day…Be patient minimal price target is four…This should not be constued as investment advise…lol
I ran GE on an actual chart the expansion of a 1.272 from 09 to 16 it does not factor…I would still want more waves down since 2016high with at least a retest of its recent 12/18 monthly low…If that swing low breaks even on lighter volumes expect the next support
back at the 1988 low around 3.4
mystery chart also open to retracement level of 50% of this rally while it retetests 1969 swing high
GE on daily has a ways to go….only has 3 waves down since 7/3/191 high..and the RSI has no divergences with the low of 8/15/19….and volume is NOT capitulation level at all…and weekly is not even close to over sold..and the weekly 12/18 low is on LIGHT volume…It is begging to be sold through…NOTHING>>>>NO BUY ON GE…lol
GE daily AB=CD down 1: 1 hit; 1.272 @ 7.02; 1.618 @ 6…….200% @ 4
Wait for at least a huge volume capitulation day and better a bullish reversal candle..We are NOT close yet
GE daily shows an incomplete AB=CD down…price is to the left of the symetrical yellow line eg weak and fast move….ZERO ZERO sighn of reversla….Hope is not a trade
Wow – after all the good work that K92 (KNT) had been doing and the fantastic rist that the stock has been on the last 2 years, now the people and government of Papua New Guinea officially trashed their jurisdiction by over-reaching. What a shame.
I had to bail today on KNT after having just added more to the position a few days back. It has been quite a run for a while and was one of my best performing Gold stocks, but I really don’t like what is unfolding in PNG regarding mine nationalization at all. They are just shooting themselves in the foot regarding foreign investment for years to come. Very sad to see such a dumb decision by the 18th largest gold producing nation on the planet.
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PNG aims to retain 30% of exported Gold, may change currency pegs
Jonathan Barrett – 2 MIN READ
Landowners Want 100 Per Cent Ownership of Porgera Mine
“Majority landowner representatives are calling on Prime Minister James Marape to extend his ‘Take Back PNG’ campaign by taking back the Porgera gold mine from operator Barrick Niugini Limited (BNL).”
“Acting through the Justice Foundation of Porgera, 18 out of 24 landowner agents who signed the MOA in 1969, are urging the PM to act on his word by taking back Porgera gold mine from Barrick.”
“In a recent press conference in Port Moresby, chairman of Justice Foundation for Porgera Mr Jonathan Paraia, claiming to speak for the 18 landowner agents, declared their intention to take 100 per cent ownership.”
https://ramumine.wordpress.com/2019/08/06/landowners-want-100-per-cent-ownership-of-porgera-mine/
On August 19, 2019 at 6:20 am,
OOTB Jerry says:
Ahead of the Curve……….
SYDNEY, Australia — Papua New Guinea wants to retain at least 30% of the gold it currently exports as it transforms its economy under a new government leadership, the country’s commerce minister said Monday.
PNG was the world’s 14th largest gold producer in 2018, according to the World Gold Council. Its assets include the Porgera gold mine, majority controlled by a joint venture between Barrick Gold Corp and Zijin Mining Group, which has a lease currently up for renewal.
Reply to this comment
On August 19, 2019 at 6:22 am,
OOTB Jerry says:
Considering dumping the dollar……peg other than dollar……
“We are in the process of developing the framework to retain at least 30% of our gold that we export every year,” Mori told the forum.
Mori said that PNG would also consider pegging its currency, the kina, to gold, rather than the U.S. dollar.
Like stick it in your ear……Crimex………lol
Thanks OOTB. Yeah, it’s nasty policy to try and take 30% (or some groups were calling for 100% and full nationalization of mines), after Canadian companies came in and spent 100’s of Millions of dollars in exploration, permitting, and development to get into production.
It’s just terrible strategy if they want foreign investment, and it looks like they are pulling a similar stunt to what Ecuador did a decade ago, or what South Africa has done twice, which totally tanked their mining industries for large swaths of years, and the local people didn’t have the knowledge or skillsets to run it correctly, or do proper mitigation, so it caused the mines to close, more injuries, more environmental damage, and nobody wanted to touch those jurisdictions with a 10-foot pole after that.
I’m just a bit sour on this one in that K92 was doing all the right things, turned their operations around, excelled in great exploration, and just put out good news the last few weeks…. only for the country to go to hell in a handbasket.
It’s similar to this mess from last year in Papua New Guinea:
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Freeport, Rio formally yield control of giant Grasberg mine to Indonesia
Cecilia Jamasmie | September 27, 2018
“Grasberg mine on the island of New Guinea, one of the world’s biggest sources of copper and gold.”
https://www.mining.com/freeport-rio-formally-yield-control-giant-grasberg-mine-indonesia/
OOPS>….Ghana be a bad day……….Bank closing…….hummm…….better be your own bank….. 🙂
https://www.zerohedge.com/news/2019-08-19/horror-ghana-third-banks-shutter-sparking-unprecedented-bank-run
James Marape elected new Papua New Guinea prime minister
“James Marape, a former finance minister and critic of a major global gas development deal, has been elected by parliament as the prime minister of Papua New Guinea (PNG).”
In a Facebook post early on Thursday, Marape pledged to make PNG “the ‘richest black Christian nation’ on Earth” and to put the “national interest ahead of personal and corporate interest”.
Interesting…………..
Looks like a good CIA..Target….. 🙂
Haha! Possibly. 😮
Well……We have been talking about investing in areas., …where we feel a little more safe, when the SHTF….or when the Lord Barons decide they like raping the sheeple, at will,
Seem the corrupt mind never ceases………
Heads Up….thanks for the post…….
Yeah, Papua New Guinea was more on the exotic side, and I’m still speculating on a few West African and South American mining plays that have more associated jurisdiction risks. The attraction can be the deposit size or grade, good economics, or low valuations , which make them worth the candle. However, as you mentioned, sometimes the SHTF.
I also sold today, but fortunately had been in long enough to walk with a satisfactory profit. I did not want to wait and see as stupid governments never seem to get educated. I rolled it into some of my favorites and am satisfied with the changes. Too bad greed overwhelms common sense …but then politicians have been never known to help the people.
Well stated David.
As you mentioned, the funds will be put to work in other companies as opportunities arise.
Ever Upward!
Nice bounce back on KNT today. I guess I hope for an initial move higher on the opening and then I sell. Sad. This stock is my best performer since I purchased a considerable amount at its’ low way back in early 2018. The positive is that its’ a capital gains reward. It’s one of the reasons I rarely purchase outside the hemisphere. Another lesson learned.
Crime Lords……..are going to be doing a lot of OVER REACH……..
I said the other day………anyone suing Epstein would be lucky to collect anything…
https://www.zerohedge.com/news/2019-08-19/epstein-created-577-million-trust-days-his-death
Trust in the State of Corruption……..OJ at it’s Bests……..
Guarantee……..Barr, Mueller, Comey Hilly Billy and Bob….will be getting a lot,
Did we mention Kissinger,…..
Sounds NUTs………until you do the deep digging………..just saying…..
Woah, Ex, you were adding to KNT while its weekly RSI was in the 80s and monthly RSI was in the 70s 😲
Yeah, I liked their fundamental newsflow, and felt the price of gold still may have one more move higher. Many stocks have been overbought on the indicators but still continuing to trek higher.
At least most of the core position prior to that purchase was in the money, so my only sting was on the part I had just added to. It may even rebound more in a few days, but I pulled the plug on the whole position today.
KNT would not have pulled back anywhere close to like it did today if it wasn’t for all the news hitting about Papua New Guinea’s new 30% thievery and major concerns about the jurisdiction.
It’s a bummer, but it’s part of the jurisdiction risk, which is what allowed such a good valuation 2 years back on those assets. Investors willing to take the rick on solid managment and hitting milestones allowed the outperformance of KNT compared to most of its producing peers, as it was rerated higher. This lates PNG news just pulled the rug out from under investors feet. Ah well, it was a nice ride overall.
(KNT) K92 Mining Inc. Provides an Update on Trading Activity
by @nasdaq on 20 Aug 2019
https://ceo.ca/@nasdaq/k92-mining-inc-provides-an-update-on-trading-activity
Chris is one of my favorite guests that Cory interviews. However, he’s a bit too bullish for me. What he reads into his charts could happen and it could begin after the S7P goes over 2980-85.
Here’s another view point FWIW: http://jugglingdynamite.com/
Keep in mind that stocks can and do go higher when the economy has problems. We’ve witnessed it in recent years and it happened during the 1970s.
If we measure from the January 1970 low to the January 1980 high, the S&P 500 went up 39% versus the dollar but declined a whopping 94% versus gold. So a 1930s style collapse was hidden from the unsuspecting public by the Fed’s willingness to rob savers with its policies. The same thing will happen this time but on a much bigger scale.
(FPC) (FPRGF) Falco Provides Horne 5 Project Development Update
by @nasdaq on 19 Aug 2019
“Falco’s team is working on revising some components of its Environmental Impact Assessment (“EIA”) and meeting with various stakeholders to further mitigate the impacts of the Project.”
“The dewatering of the old underground workings (former Horne and Quemont mines) constitutes the initial phase of the development of the Horne 5 Project and involves geotechnical challenges.”
https://ceo.ca/@nasdaq/falco-provides-horne5-project-development-update
“Falco is benefiting from the strong sponsorship of Osisko Gold Royalties Ltd through its 19.9% ownership and $10 million loan facility. Osisko has also committed to fund a portion of the development costs of the Project through a silver stream facility completed in February 2019 for an amount of up to $180 million, payable in stages upon achievement of agreed upon milestones.”
Luc Lessard, Falco’s President and CEO, commented: “We are confident that we will achieve key project milestones during the second semester of 2019, which will allow us to update our development schedule. We appreciate support and patience of all stakeholders in these challenging times as we pursue diligently the advancement of the Horne 5 Project.”
Cory – I don’t see Falco listed as sponsor any more, but if you still have a good relationship with their team, it may be nice to get an update on when they believe they’ll achieve some of these milestones (the permitting and EIA, the dewatering of the old mining workings, and the development financing).
They’ve been sitting rather stagnant (like many development-stage companies) because there has not been much investor interest in companies that aren’t already producing, or that aren’t seeking big discoveries through exploration.
The Gold Developers have been unloved thus far in this move higher in the PMs, with a few exceptions like Great Bear, Sabina, or Minera Alamos, but overall investors seem leery of putting money into companies that clearly need to raise more money (dilution), and without the guarantee of getting permitted or pushback from locals.
It would be nice to hear from a company officer on Falco on their confidence level in moving the Horne 5 project forward, because it just seems like it’s been stalled out for years now.
Exc: Now weekly commentary by their top FX guy – https://www.youtube.com/watch?v=a9zBkKZHq7U
(FISH) Sailfish Royalty Completes Acquisition of (TEN) Terraco Gold, Creating a New Growth-Oriented Royalty Company
by @newswire on 19 Aug 2019
Akiba Leisman, CEO of Sailfish, commented: “this exciting transaction brings together our combined royalty portfolios into a new, growth-oriented royalty vehicle. Terraco’s royalty holdings will give our shareholders exposure to one of the best known undeveloped gold mining properties in Nevada. We believe that Spring Valley is a high priority development project for Waterton which is evidenced by a recent royalty purchase Solidus made (Pershing County June 26, 2019 filing) of up to a 1% NSR on Spring Valley from a third-party. As a significant royalty holder of Spring Valley, we look forward to continued advancement of the project.”
Todd Hilditch, former President & CEO of Terraco, further added: “As a founder of Terraco, I am excited to be representing shareholders as a director in the combination with Sailfish. This is a great opportunity to continue on for further exposure to a diverse portfolio of royalties, with exposure to a multi-million ounce gold project portfolio, and benefiting from a strong financial backing and an increased capital markets profile.”
https://ceo.ca/@newswire/sailfish-royalty-completes-acquisition-of-terraco-gold
I’ll hazard a guess, the secret company has to be an oil or MLP COMPANY