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Market Wrap – US Markets, Gold and Gold Stocks, and Oil

Cory
May 14, 2020

It was an interesting day for US markets as they opened down and look to continue the downtrend but managed to get a buy throughout the day and close up. Gold and gold stocks opened up and held those gains while oil also received a buy throughout the day.

Chris Temple joins me to address all of those markets and the daily moves.

Click here to visit Chris’s site – The National Investor.

Discussion
17 Comments
    May 14, 2020 14:28 PM

    Mr Chris Temple . Your opinion ? https://m.youtube.com/watch?v=KtO5nzHzQoU

    May 14, 2020 14:36 PM
      May 15, 2020 15:13 AM

      XAU weekly chart breakout and 4th week above the 600 week MA (that provided 6 weeks of support just before the crash of 2013)…
      https://stockcharts.com/h-sc/ui?s=%24XAU&p=W&yr=7&mn=7&dy=0&id=p65148713468&a=699164164

      May 15, 2020 15:23 AM

      XAU:DIA (glod/silver miners versus Dow) is up 78% since bottoming in March and looks like it can add another 20% before correcting significantly…
      https://stockcharts.com/h-sc/ui?s=%24XAU%3ADIA&p=W&yr=5&mn=0&dy=0&id=p95014934148&a=707626462

        May 15, 2020 15:29 AM

        Matthew, I hope you and Erik HH are right as I threw caution to the wind today and topped off my positions in LOMLF@.96 and NSRPF@1.95 Release the hounds!

          May 15, 2020 15:58 AM

          It’s interesting that Novo is up twice as much in Canada than the U.S. (8.6% vs 4+%).
          Both plays technically look fine.
          Good Luck Bonzo!

            May 15, 2020 15:35 AM

            Thanks, Matthew. I feel lucky to have bought NSRPF@1.95 today, but I wish I had bought it for a buck in March, but better late than never. Have you ever bought any LOMLF, NSRPF, or IRVRF? I can’t believe FNV, which I bought@25, is over 150 now. I seem to have better luck with blue chips than with juniors. But now the juniors look better than FNV.

            May 15, 2020 15:44 AM

            I have not owned those but I did own FNV/FNV options years ago.
            High quality cash-flowing blue chips lack the “optionality” of the juniors so they never get wiped out when the metals drop BUT they also underperform during strong bull markets.
            As they say, they’re like a lit match; hold them too long and you will get burned.

    May 15, 2020 15:16 AM

    I hope some of you can view a monthly chart because the following one shows two simultaneous very bullish breakouts (which of course won’t be certain until the month ends):
    https://stockcharts.com/h-sc/ui?s=%24XAU&p=M&yr=15&mn=0&dy=0&id=p07389460691&a=733656004