Rick Ackerman’s Technical Forecasts – Wed 4 Dec, 2019

Balancing trades in gold vs the S&P

Rick Ackerman is kicking off today by updating us on some of the trades he has been doing in both gold and the S&P. These two markets are very inversely correlated right now and after last week when Rick was playing the short side of the S&P, the drop early this week now has Rick watching some higher levels that if reached will impact gold as well.

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Comments:
  1. On December 4, 2019 at 10:47 am,
    Matthew says:

    The stock market might hold up relatively well versus gold but it is in trouble versus the gold/silver miners.
    SPY:SILJ weekly:
    https://stockcharts.com/h-sc/ui?s=SPY%3ASILJ&p=W&yr=5&mn=2&dy=0&id=p12511359367&a=704410785

      • On December 4, 2019 at 1:20 pm,
        cfs says:

        Kirkland Lake drills 7.6m of 87.6 g/t Au at Fosterville

        2019-12-03 06:46 ET – News Release

        Mr. Anthony Makuch reports

        KIRKLAND LAKE GOLD EXTENDS HIGH-GRADE, VISIBLE-GOLD MINERALIZATION DOWN-PLUNGE OF FOSTERVILLE SWAN ZONE

        Kirkland Lake Gold Ltd. has released new high-grade results from the continuing underground drilling programs at the Fosterville mine in Victoria, Australia. Recent underground drilling targeting additional growth in mineral reserves and mineral resources confirmed significant continuity of mineralization down plunge and adjacent to existing mineral reserves in the Lower Phoenix system. In addition, underground infill drilling into Swan mineral reserves continues to return exceptional high-grade results containing VG (visible gold) providing confirmation of the geological model, underpinning confidence in the operation’s mine plan. Drill results reported are from 206 holes (51,521 metres) that targeted infill and extension of the Lower Phoenix mineral resources. Drill results reported are after the December, 2018, mineral resource and mineral reserve update (see press release dated Feb. 21, 2019).

        Tony Makuch, president and chief executive officer of Kirkland Lake Gold, commented: “We have an extensive exploration program at Fosterville covering four main target areas, Lower Phoenix down plunge of Swan, Cygnet, Harrier and Robbin’s Hill. Today’s results focus on the Lower Phoenix area. They are encouraging as they include the extension of high-grade, VG-bearing mineralization 80 m down plunge of the Swan zone and demonstrate that Lower Phoenix is an extremely large gold system, with continuity of the system having been confirmed to over 950 metres down plunge of our deepest mineral reserves. In addition, we continue to get strong results from drilling of the Cygnet zone, where we have intersected high-grade, VG-bearing mineralization, including 239 g/t Au over 1.2 m (ETW 0.9 m). Such results provide significant resource growth potential immediately adjacent to existing underground infrastructure.

        “We are also progressing well with other components of our exploration program. At Robbin’s Hill, there have been up to six surface drill rigs in operation over recent months, with encouraging results which we plan to release shortly. We also continue to drill the anticline offset target at Harrier South from underground drill platforms and advance our Lode program on district targets. Drilling at Harrier South remains at an early stage given the time required to extend the existing exploration drift and poor ground conditions encountered in some areas. The fact that we have already intersected quartz veins with VG similar in texture to those found in the Swan zone is promising. We have not yet seen the ultrahigh grades you get at Swan, but it is early days and we remain optimistic. Harrier South will continue to be a high-priority target with extensive drilling to continue into, and throughout, 2020.”

        • On December 4, 2019 at 5:02 pm,
          bonzo b. says:

          Now I am happier that KL is buying my Detour Gold!

  2. On December 4, 2019 at 10:49 am,
    CFS says:

    From his home in France, Mr. Robert Moriarty:

    https://youtu.be/iGFfPWZfv14?t=163

  3. On December 4, 2019 at 11:22 am,
    cfs says:

    https://podbay.fm/podcast/420929545

    China economy and tariffs.

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