Market Wrap – US Markets, Gold and Gold Stocks, and Oil
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.
Mr Chris Temple . Your opinion ? https://m.youtube.com/watch?v=KtO5nzHzQoU
And Mr Temple ? https://m.youtube.com/watch?v=JBLK84YDJpg
Glad I don’t live in Chicago
Once great city……gone to hell in a hand basket….so to say….
Diss Elite Never Stop ! Lets Remember BOB CHAPMAN ! https://m.youtube.com/watch?v=OEA-qPpd0xw&list=PLGSNyvL0OHCuLc4h3m-bAf0eQtq-tC93P&index=11&t=0s
And t’s all Wireless !
XAU daily chart breakout:
https://stockcharts.com/h-sc/ui?s=%24XAU&p=D&yr=1&mn=5&dy=0&id=p62668897772&a=715542975
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
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
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!
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!
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.
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.
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
Speaking of banks, somebody else can have my share:
Regional bank Index: https://kimblechartingsolutions.com/2020/05/are-regional-banks-kre-suggesting-look-out-below-for-stocks/
Second look: BKX https://kimblechartingsolutions.com/2020/05/banks-continue-to-send-bearish-divergence-message-at-800-pound-resistance/