Complete recap of the Fed statement and press conference
Chris Temple joins me to recap the Fed statement and press conference today. While there were no major changes to the Fed’s policy Powell did make some comments on inflation and the Fed’s balance sheet that caused markets to drop and treasuries to garner a buy.
Rudy Giuliani Common Sense EP. 2 The Trial: Opening Statement | Bombshell Documents
Trump at USMCA signing:
Excelsior my old pal o pal, whats your opinion on Bayhorse and
Cheers!
I like both Bayhorse and Cheers. 🙂
I have a medium-sized position in Bayhorse for a few reasons:
1) Silver Developer and near term producer that is not exposed to Mexico, just to diversify jurisdictions
2) It is undervalued in market cap when compared to other developers that are further away from production like Aurcana, Minco, Kootenay, Alexco, Discovery Metals, etc…
3) I like that they are using Dense Media Separation and Ore Sorting to upgrade their ore to direct ship status, and discarding leaving 80-85% of the waste rock at site and not spending money,time, resources to ship it.
4) They have the ability to expand and surprise with future drilling and exploration on both their properties (they have a 2nd Silver/Gold project up in British Columbia).
Here is the (BHS) (KXPLF) Bayhorse Silver Dec 2019 Corporate Presentation:
The other company I was going to write was Abraplata.
Oh, yeah ABRA Abraplata. I had posted a few things earlier this week that I’ll just repost here:
I initiated a position in (ABRA) Abraplata a while ago for the re-rating of the value of their Silver/Gold/Copper in the ground, but it flat-lined for longer than I was expecting. I had considered just selling off this position during tax loss, but opted to sell Klondike Silver instead, and hang onto Abraplata, because I had positioned pre-merger, and wanted to see if they had increased market following in 2020 post-merger.
Well they FINALLY got their merger completed with Aethon at the end of last year, and had remained relatively quiet, but my thesis was that Diablilos was worth the candle and that they’d be drilling on Diablillos with some of the funds they got from Aethon. I wanted to see what this season’s drilling turned up, and right out of the gate they are doing great and up bigly on today’s press release.
Ever Upward!
(ABRA) (ABBRF) AbraPlata Intersects 17.5 Metres of 604 g/t Silver and 7.0 Metres of 20.6 g/t Gold and 202 g/t Silver at Diablillos Project
AbraPlata Resource Corp. – Jan 27, 2020
A Silver-Gold Focused Exploration Company – AbraPlata Resource Corp. (ABRA) (ABBRF)
Cambridge House International – VRIC #VIDEO Jan 27, 2020
Thanks E!
You’re the best!
SLV has now filled Tuesday’s gap down:
https://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=1&mn=5&dy=0&id=p19995601422&a=704177881
China has shut down all 70,000 movie theaters.
I think the Hollywood business may take a hit this year.
The XAU tested its rising 50 day MAs and looks good:
https://stockcharts.com/h-sc/ui?s=%24XAU&p=D&yr=0&mn=9&dy=0&id=p74007082190&a=715271477
XAU still looks good versus DIA:
https://stockcharts.com/h-sc/ui?s=%24XAU%3ADIA&p=W&yr=4&mn=5&dy=0&id=p88456976407&a=707626462
Nothing but good stuff happening here:
https://stockcharts.com/h-sc/ui?s=%24GDM&p=W&yr=8&mn=11&dy=0&id=p79035379954&a=715025543
The corrective action since September will give the miners the power they need for the big breakout:
https://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=8&mn=3&dy=0&id=p65186292644&a=484019228
Above important Fibonacci fan and speed lines:
https://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=8&mn=3&dy=0&id=p62524357941&a=685496339
A strong move will take place outside of the 20 day MA and EMA envelopes:
https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=5&dy=0&id=p78154640799&a=569622901
Matt, what does your chart say about Kirkland?
It sure does look a bit weak, won’t you say?
Yes, very weak. With all the opportunities out there, I would have sold all strength since September had I owned it. And it could easily fall much further.
https://stockcharts.com/h-sc/ui?s=KL&p=D&yr=1&mn=2&dy=0&id=p26494372733&a=621266591
The big picture isn’t pretty either:
https://stockcharts.com/h-sc/ui?s=KL&p=W&yr=3&mn=11&dy=0&id=p83500770689&a=621266591
A positive is that weekly Bollinger band support is holding so far. If I owned it here, I’d still sell and buy something else. That’s not advice.
https://stockcharts.com/h-sc/ui?s=KL&p=W&yr=3&mn=0&dy=0&id=p12247668982&a=621266591
Thanks!
But I must say it does look a bit oversold, the stochastics seem to be at/nerar the lows.
Or am I incorrect?
I prefer to use the RSI for overbought/oversold readings but the stochastic readings are moving into an area that would support buying if the trend was still strongly up. On the following chart, I’ve highlighted what can (not “will”) happen with the stos when the picture turns bearish.
Note that price is below the important 200 day MA and the 50 day MA is pointing down and heading for a cross below the 200 dMA (a death cross as opposed to a golden cross).
https://stockcharts.com/h-sc/ui?s=KL&p=D&yr=1&mn=3&dy=0&id=p23751219450&a=717347508
Ira’s morning:
https://duckduckgo.com/?q=bolton+speaking+fee+washington+post&atb=v106-3_g&ia=web
Bolton > Pinchuk/Clinton connection !!!!!!
Pinchuk is Ukrainian Billionaire that hired Hunter Biden to Burisma.
Mr. Powell is devious in his use of language (not to the level of Mr. Greenspan) but devious, nevertheless. He actually wants as relatively high inflation as he can get away with without drawing criticism from the MSM/ public.
He will cut interest rates, probably twice later in the year, dependent on economic growth.
We are in the longest expansion in modern history, but various factors are now competing to end this expansion. Powell will reduce rates to attempt to continue the expansion.
Lowering rates is also ABSOLUTELY VITAL to reduce debt-carrying costs, and this will happen for that reason.
Everything is, OF COURSE, RELATIVE. Exact rates in the US will also slightly depend on what interest rates are elsewhere in the world. The value of the dollar is more dependent on the collapse of the EU and its interest rates, than on what the Fed is doing.