Weekend Show – Sat 11 Jul, 2020

Hour 1 – This hour is for the new and seasoned gold/silver stock investor

Full First Hour

This hour is for all of you who are actively investing in metals stocks. With gold and silver stocks both flying higher it’s a good time to be in the the sector but if you are strategic you can maximize your returns.

Please keep the questions and comments coming. I can be reached at Fleck@kereport.com. Also be sure to listen to all the company interviews posted over the week.

  • Segment 1 – Mike Larson kicks off the show outlining a shift that is happening in the markets. Yields, central bank policies, and gold moves are telling a major story.
  • Segment 2 – Brian Leni joins me to balance the recent gains in gold vs silver stocks. We also discuss how PEA can be used to find value in the sector.
  • Segment 3 – Dave Erfle continues our focus on PM stocks. We go back to some of the basics for new investors when looking at junior stocks. This information is always important to keep in mind even for the seasoned investor.
  • Segment 4 – A bit of a new format for all of you who missed a couple key company interviews this week. I provide a preview to interviews with both Skeena Resources and Vizsla Resource. Both companies released significant news that drove the stocks higher throughout the week. Click the links below to listen to the individual interviews.

Exclusive Company Interviews This Week


Mike Larson
Brian Leni
Dave Erfle
Featured Company Updates – Skeena Resources and Vizsla Resources

Comments:
  1. On July 11, 2020 at 3:58 am,
    bonzo says:

    Thanks, fellas. What a week, with Irving and Novo topping $3 and CNRIF going from 12 cents to 31 cents while I was buying NULGF every day. Please stop me before I buy more.

  2. On July 11, 2020 at 6:21 am,
    Wolfster says:

    Another great week gentlemen…keep up the good work

    • On July 11, 2020 at 9:43 am,
      Excelsior says:

      Agreed. Thanks Cory for all the great interviews this week as they are appreciated.

      On this weekend show I’m glad Brian Leni brought up Monarch Gold, as I am seeing the same undervaluation at present, especially because they have 2 permitted and prior producing mills that the peeled off of Richmont before Alamos took them over. This gives them a huge advantage in their region, and I also agree with Brian that the market is not properly valuing the sum of their assets (mills, development properties with ounces in the ground, cash & securities, and most importantly their flagship Wasamac development project).

      _____________________________________

      (MQR) (MRQRF) Monarch Gold – Corporate Presentation – July 2020

      http://monarquesgoldfiles.com/documents/files/Corporate-Presentation-PDF-EN.pdf

      • On July 11, 2020 at 10:00 am,
        Excelsior says:

        MQR has moved up nicely off the March lows, but prior to the sector crash Monarch was really undervalued compared to other Developers and near-term Producers, and most of them don’t already own 2 mills. It still isn’t even close to be valued correctly at $1700-$1800 gold across it’s various properties, and it’s one I got back into 2 months back and plan on hanging onto for the next 2 years.

        • On July 11, 2020 at 10:30 am,
          Excelsior says:

          As Brian covered in his interview on the KER Weekend show, it is also big news that Monarch worked out a deal on using Glencore Canada’s Kidd concentrator. This will bring down the capex needed to get Wasamac into production.
          __________________________

          Monarch Gold Signs MOU With Ontario Northland For Wasamac
          July 9, 2020

          – “The agreement will allow negotiation of a favourable rate for the transportation of ore from the Wasamac gold project to the Kidd concentrator under the MOU with Glencore Canada.”

          – “The Ontario Northland Railway serves northern Ontario and northern Quebec, running directly past Wasamac to end its route at Rouyn-Noranda, after which the line becomes CN property east of Rouyn-Noranda.”

          https://www.monarquesgold.com/news-releases/monarch-gold-signs-mou-with-ontario-northland-for-wasamac

  3. On July 11, 2020 at 6:22 am,
    Wolfster says:

    For those of you following Brixton here’s a short interview
    https://m.youtube.com/watch?feature=youtu.be&v=g36JCpYddo0

  4. On July 11, 2020 at 6:24 am,
    cfs says:

    Go Gold…..actually a silver story:

    https://www.youtube.com/watch?v=lQCz1MyJo7Q

    • On July 11, 2020 at 7:52 am,
      cfs says:

      GoGold Intersects 18.4m of 889 g/t Silver Equivalent including 3.2m of 4,335 g/t in Rascadero area of Los Ricos South
      2020-07-07 08:00 ET – News Release
      Canada NewsWire

  5. On July 11, 2020 at 6:31 am,
    Wolfster says:

    Agree with you Ex it’s getting potentially frothy here as euphoria for anything mining seems to be starting to happen. Hasn’t reached cow pasture stage yet but a consolidation/pullback may be coming to weed out the momentum players from the true mining investors. Have taken some profits in the big movers and redeployed in ones that haven’t moved as much yet……..have also put half the profits into my favourite pot play IMCC. Feel a need to diversify a bit…….meanwhile copper has moved big and I missed it….all cuz I got caught watching instead of buying

    • On July 11, 2020 at 8:32 am,
      Excelsior says:

      Yeah, I was not trying to sound overly bearish yesterday, because medium to longer term I’m quite bullish. Overall most of the PM sector has gotten a bit frothy with an incredibly
      strong move coming out of the sector lows in mid March, and investors piling in with ridiculous short-term expectations.

      The valuations have jolted higher with advanced explorers blasting past many developers that have proven ounces in the ground, and popular developers with no permits, mines or mills built, or production valued higher than multi-mine producers that have more reserves in the ground. The biggest warning sign is that BPGDM Bullish Miners Percentage index going up to 100 recently. That last happened July 2nd, 2016 and serves a warning bell near an intermediate top. As mentioned yesterday the economic backdrop now is different than in 2016, as we still have Covid 19 shutdowns, riots in business districts in many cities, record amounts of government stimulus packages, and record amounts of Fed printing. This environment is more bullish than ever for PMs, and that is why Gold has been north if $1800 lately.

      There are many widely followed mining stocks with chart indicators that are really overbought after massive volume inflows. We are close to a shorter term top in many mining stocks, and some of the froth and euphoria needs to be washed out in a corrective move, before the next big run higher. A pullback in the not so distant future is overdue and would be a healthy sentiment reset.

      • On July 11, 2020 at 9:15 am,
        Wolfster says:

        Yeah that’s certainly the issue I see…..for me the prime example is roxgold…..despite covid they are still on track for the upper end of their original guidance on production and are benefiting from the higher gold price and are on track to double production eventually with the new mine. I realize their location is a possible factor but a cash cow is a cash cow.

        • On July 11, 2020 at 10:10 am,
          Excelsior says:

          Wolfster – great example of an undervalued producer with Roxgold. Yeah, I’m sure being in West Africa they get a discount to North American companies, but most don’t realize just how significantly their production is going to increase over the next 2 years, and they have fantastic margins, low costs, and yes they will be a cash cow at current gold prices. If gold goes even higher in price…. fuggetaboutit….

          __________________________________

          (ROXG) (ROGFF) Roxgold Inc – Corporate Presentation July 2020

          https://s22.q4cdn.com/726251528/files/doc_presentations/2020/07/Investor-Presentation-July-2020.pdf

          • On July 11, 2020 at 10:50 am,
            Excelsior says:

            (ROXG) (ROGFF) Roxgold Produces 32,812 Ounces in Second Quarter; Guidance Maintained

            by @businesswire on 8 Jul 2020

            – Produced 32,812 ounces of gold at an average grade of 8.2 grams per tonne in Q2, totalling 65,192 ounces produced for the year to date
            – Reported quarterly plant throughput of 1,399 tonnes per day for a total of 127,309 tonnes which exceeded increased nameplate capacity of 1,100 tpd by approximately 27%
            – Maintained upper end of annual gold production guidance at 120,000 and 130,000 ounces subject to existing operating conditions being maintained
            – Continued operations with management and mitigation of COVID-19 with no new infections at site
            – Advanced Séguéla infill and infrastructure drilling to support Feasibility Study which is on track for early 2021

            https://ceo.ca/@businesswire/roxgold-produces-32812-ounces-in-second-quarter-guidance

        • On July 11, 2020 at 10:56 am,
          Excelsior says:

          This was initially posted on Tuesday the 7th, so the market cap figures have changed by the end of the week the overall point is still the same:

          ___________________________________________

          > Are the $Gold #Producers undervalued or are advanced #Explorers getting a bit ahead of themselves?
          _______________________________________________________

          (AR) Argonaut Gold, with 3 current producing mines & 3 large development projects (with capital raise completed for mine #4 that alone has 6 million ounces of gold)
          > Argonaut has 2.5 million ounces of Gold equivalent in the ground at their 3 mining complexes, and another 10 million at their 3 large development projects. That’s 12.5 million ounces of Gold reserves and they are producing and monetizing higher metals prices with mine #4 in the works.
          *$462 Million market cap.

          (SKE) Skeena Resources advanced explorer/developer with no production, but good drill results and a good resource
          *$425 Million market cap
          __________________________________________________

          (VGCX) Victoria Gold in gold production w/ 3.3Moz gold proved up in the ground.
          *$925 Million market cap

          (GBR) Great Bear Resources – no resource estimate or production, very good drill results.
          *$888 Million market cap
          ____________________________________________________

          (USA) (USAS) Americas Gold & Silver 4 producing mines at 3 producing mining complexes in 3 different countries, and a pipeline of exploration and development projects and is a legitimate Mid-Tier Precious Metals producer:
          *$370 Million market cap

          (TUD) Tudor Gold is advanced explorer in the Golden Triangle with no mines constructed and zero production, but very good drill results with JV partners (TUO) Teuton and (AMK) American Creek
          *$402 Million market cap

          >>>> For clarity, I’m not saying that the advanced #explorers / #developers don’t have good projects and may not end up eclipsing some of the producers projects, but that still remains to be seen and they are priced like all of this is already known. Either that or they are fairly valued and the #producers are extremely undervalued. Which one is it?

          I get that all deposits are different and should be valued on their own merits, but we are seeing examples like this across the entire spectrum of mining companies, and it seems like a big disconnect.

          Are folks not considering the huge capital outlays these exploration and development companies will need to deploy, diluting down existing shareholders, or the years of permitting, social licensing and community outreach, permitting, and construction these companies would need to do successfully get their mines and mills built and into production?

          Or has all of this been considered and the advanced explorers & developers are right where they should be and it is just the producers that are not being valued correctly higher?

          • On July 11, 2020 at 11:08 am,
            Excelsior says:

            There are other Developers that are not as popular, but represent far better value that many of the herd stocks investors have piled into pushing them up to lofty valuations.

            Look at some of the valuations on those Gold developers above and then contrast that against a company like Triumph Gold (TIG), with 2 Million ounces of Gold equivalent indicated, and 3 million inferred for a total of 5 Million ounces of Gold equivalent (with amazingly strong Copper credits), and partners with Newmont who owns 18% of them, but they are trading at the paltry valuation of a $30 Million market cap (??)

            They have a larger resource than Skeena, Tudor, or what is know about Great Bear, and they are trading at 1/10th to 1/20th of their valuation. That’s a big disconnect and there are PLENTY of other examples just like that.

            ___________________________________

            (TIG) (TIGCF) Triumph Gold – Corporate Presentation July 2020

            https://www.triumphgoldcorp.com/wp-content/uploads/CorporatePresentation.pdf

          • On July 11, 2020 at 12:51 pm,
            Wolfster says:

            Well maybe things are about to change. There was a few big blocks on Friday. Hopefully it was all that was holding it down.

          • On July 11, 2020 at 2:19 pm,
            Excelsior says:

            Wolfster – Yes great point about the massive volume on Friday in (TIG) Triumph Gold. I was adding to Triumph yesterday myself 🙂

            The average daily trading volume is 144.557 and on Friday 2,542,809 shares traded 17.5 times the normal volume. Obviously there are buyers that see value.

          • On July 12, 2020 at 1:21 am,
            pyrite says:

            Excelsior,
            Are there any junior gold/ silver stocks that you would buy now or add during the pullback?

          • On July 13, 2020 at 11:53 am,
            Excelsior says:

            Hi pyrite,

            I bought most of my Gold and Silver positions in the past, and added aggressively in August 2018, Dec 2018, mid-2019, and just blew out all the dry powder (and then some) that I had in mid-March through April, so I’m not personally doing a bunch of buying at these current levels, but have added to a few companies the last few weeks.

            I’m more bullish on the Silver stocks at present, because Silver still has a lot of catching up to do versus Gold, and many of the Gold stocks have already run really hard coming out the precious metals sector low on March 16. As mentioned further down in this thread, there is likely still some upside in the gold stocks, but they are starting to get more frothy and overbought than they were a few months back, so I’m looking to where I’ll start trimming some back over the next few weeks to a month.

            If you don’t have any positions at all, then there is nothing wrong with putting in place a partial position of about 25%-40% now, and then waiting for a pullback to add more and establish a lower cost basis. That way if the stocks continue running you have an iron in the fire, but if they only run a bit longer and then correct, you haven’t used up all you cash and can buy any dips.

            As for which ones, I have dozens of gold mining stocks about 19 Silver stocks, and there are plenty of others I like beyond the ones I hold. Most companies are doing well, but if it were me adding new positions, I’d be trying to position some money in cashed up companies with exploration underway and drill results coming out over the next 1-2 months, quality developers that are having their ounces in the ground rerated higher along with better economics for their projects, and producers that have either great margins or margins that are improving the most as the metals prices rise.

            Good luck to you in your investments and may they be prosperous!

    • On July 11, 2020 at 10:06 am,
      Glenfidish says:

      Great week gentlemen! The stocks are doing well and we all owe ourselves a pat on the back for keeping with it! May we all make lots of mula to protect us from this crazy world we are living in. I wish us all true freedom to do as you want and protect your families.

      Wold like ex would say there is nothing wrong banking in profits even if it’s early a profit is a profit and rotation is also a very good thing. I brought this up a week or more ago regarding to much talk about gold. Beware like you said “reaching” there but not quite yet!

      My weekly update remains the same for next week and end of month. Although my targets of $1830-$1840 did no come it sure came close and we did hit the $1820-$1840 zone. I’m glad to hear many of you bought into this weakness the pass few days. We are headed higher $1820-$1840 zone break and than retest of $1840..

      This thing has legs yet and we have about imo 4-6 weeks before the cycle top hits. I will share what my thoughts have been since May.. this intermediate cycle will run about 7/8 months. Peak comes in imo in the 4-6 week mark. I have my own number which is not $1881-$1884 ex, but I would say that would be a really smart area to unload a good chunk of your trading chips.

      Your correct wolf a correction will come but first I need to see how gold reacts at the $1840-1880 region in combination with my miners. Than I think I will have a clearer picture of how steep this drop will be. Something I have spoken to Matt about. The tricky part is always trying to figure out if this correction will be “more” significant. I’ve put myself out there already and I believe we are headed lower when we get there. Matt has made a convincing case it won’t be a hard correction.

      Cheers to all

      Glen

      • On July 11, 2020 at 10:45 am,
        Excelsior says:

        Hey Glenfidish. I agree that from time to time, pulling some chips off the table and booking profits is a wise thing to do (otherwise they are just paper profits and not real, and they can evaporate as quickly as they were made).

        Some individual stocks may very well keep running (especially if Gold gets up to the $1840-$1880 area before correcting), but with the Bullish Miners Percentage Index flashing 100 that is showing how overbought these PM miners are as a group.

        I’m not expecting the bullback to be scary, as there are too many fundamental drivers that are bullish for Precious Metals, and I still expect Silver to keep ratcheting higher after taking a breather. I’m just looking for a normal and healthy corrective move that washes out this euphoria sentiment, and provides a base to build the next leg higher off of in the evolving PM Bull Market.

        • On July 11, 2020 at 11:19 am,
          Excelsior says:

          5 year #Chart showing (BPGDM) Gold Miners Bullish Percentage Index moving to 100 in July 2016 and just moved back to 100 in July 2020.

          Also GDXJ is overlaid in black to show how prior peaks linked up with the BPGDM.

          http://schrts.co/xHzjNYTk

          • On July 11, 2020 at 11:28 am,
            Excelsior says:

            BPGDM may be able to stay elevated at 100 for a bit longer while Gold moves to $1840-$1880, but at one point soon, it will correct down in a mining stock sector pullback. It clearly is buried in an overbought reading at present.

            The time to be buying the miners bigly was in March-April of this year, and those that did have have fantastic returns, but things are getting over-cooked in the short term. Medium to longer term they have much higher to run of course as this bull is still quite strong and only mid-cycle at this point.

            I’m just trimming some of the runaway stocks to keep raising cash to deploy when the corrective move comes and then ride it up the next leg higher. That next leg is the one I believe where gold will take it’s all time high of $1923, and Silver will finally take out the 2016 surge high of $21.23.

          • On July 11, 2020 at 2:10 pm,
            David says:

            I was close to my July 2016 high in Feb 2020. Then proceeded to achieve my all time low in Mar 2020. Now I am back to where I was in 2011. So in summary I have not gone anywhere in 9 years except pay out taxes, birthday and xmases and house repairs. So I guess I am up. What I always fear are these 100% retracements like the second half of 2016. This time I would like the opportunity to double, triple or more the 2011 levels like the general markets have done, funded by the Fed (tax payers). I am hoping they can’t keep us down as they have totally destroyed everything fiat.

          • On July 11, 2020 at 2:49 pm,
            Excelsior says:

            My retirement account is full of boring mutual funds and bonds but has been chugging higher and higher with general markets for years with the highest levels in many components ever.

            My trading account filled with more volatile resource and energy stocks has never been higher, granted I have added some funds to it over time. However, similar to what you mentioned, in March of this year it was at it’s lowest levels in many years, but now ratcheted up the highest levels on record. The last 4 months have been truly transformative in this account, but I added funds in March, and have done about 175 trades since the end of February and have been quite active in managing it with more time stuck inside paired with the amazing rebound in the PM sector since mid-March.

            I don’t expect anything close to the kind of retracement we saw from the 2016 surge highs, and if there is a corrective move I expect it to be more shallow and brief, before the metals and miners begin their next advance, and it will be a buying opportunity.

            Good luck to everyone in their investing and trading in the days, weeks, months, and years to come. Ever Upward!

          • On July 11, 2020 at 3:38 pm,
            Canuckski says:

            David, you’re not alone. I have been holding a set of miners in an account which has only now came back up to breakeven. Some of the ones from back in 2010 and 2011 had been crushed and have still really done nothing for me. Their current values aren’t even worth selling them. I hope that when the PM market kicks into high gear, then they’ll float up like the rest.

        • On July 11, 2020 at 1:25 pm,
          Glenfidish says:

          Ex,

          The indicator you speak off imo will continue to stay overbought. Overbought conditions always extend when the “big” moves come that’s why few make big money. The wall of worry which Matt talks about always. I expect no less. This trend has bucked of many including moriaty who is waiting for the bottom since two months ago.

          Let’s see what happens pal.. your caution is understood.

          Glen

          • On July 11, 2020 at 2:03 pm,
            Excelsior says:

            thanks for your perspective amigo.

            Yes, I’m quite familiar the old investing adage of stocks “climbing the wall of worry in bull markets” and the “bull shaking off as many riders as possible on the way up” and have posted those same statements dozens of times here at the KER over the years.

            As mentioned above “BPGDM may be be able to stay elevated at 100 for bit longer” however it rarely gets to a reading like that and the last time it did was 4 years ago in July of 2016 right before the miners topped.

            It’s a tool we’ve discussed on here a number of times as confirming breath (and also sentiment) indicator at both tops and bottoms.

            Here is a bit more information about it for those not familiar with it:

            ______________________________________________________________

            “The Gold Miners Bullish Percent Index ($BPGDM) is a gauge of overbought and oversold conditions for the gold mining sector. It is a breadth indicator based on the number of stocks with Point & Figure buy signals (a Point & Figure chart emphasizes strong moves while ignoring small ones) within this index.”

            “The Gold Miners Bullish Percent Index’s range varies between 0 and 100. Generally, a reading below 30 indicates oversold conditions in the gold mining stocks sector, and a reading above 70 indicates overbought conditions. This indicator is used as a tool to decide when to buy or sell gold mining stocks, but since gold stocks very often move in tune with gold or silver, it can be a useful tool when determining the direction of the entire precious metals sector. The index can be used in conjunction with a gold price chart, or multiple other tools, to watch for additional confirmations of a trend.”

            https://www.sunshineprofits.com/gold-silver/dictionary/gold-miners-bullish-percent-index/

          • On July 11, 2020 at 5:56 pm,
            Matthew says:

            Glen,
            I believe you are looking at things correctly and currently it is probably better to focus on buying good pullbacks rather than trimming/selling for fear of a decline.

            The BPGDM peaked about a month before the XAU and HUI topped in 2010 (Nov 9 vs Dec 6). In addition, a BPGDM reversal signal needs at least a 6 point pullback and a reversal does not automatically mean that the buy signal has been reversed.

            The fact is, hitting 100% is a good/bullish thing overall since it means that 100% of GDM’s components are on P&F buy signals (bull market breadth). It never hit 100 prior to 2016 (2010/11 highs) and if the BPGDM existed during the early stages of the last bull market about 20 years ago, I bet it would have showed action that we have never seen before, like remaining elevated for extended periods while the miners fly higher. The corrective action of the last two days bullishly only knocked it back to 96.43.

            Sentiment tools are great but should not be the reason we exit or enter a trade.
            Example:
            https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&st=2018-07-09&en=2020-07-01&id=p86662909187&a=682393066

            It is safe to assume that few sentiment indicators accurately measure the “froth” present among the retail crowd and the BPGDM might be one of the worst. I need to research it more but I think $GDXHLP might be better.

          • On July 11, 2020 at 8:20 pm,
            Glenfidish says:

            Matt,

            Exactly! Your better off than me at expressing my point. Even Gary mentioned this the other day in regards to intermediate bullish advances almost always remain extended and overnight.. This tends to be the place we’re the people with most patience get rewarded.. This is something I’ve had to learn over many years and something I did learn from you as well. But if you follow the most important indicators closely combined with gold price action, hui and other factors, add in cycle length of time and you can see so far these corrections are buying opportunity’s.

          • On July 11, 2020 at 8:21 pm,
            Glenfidish says:

            Overnight=Overbought lol

          • On July 12, 2020 at 9:31 am,
            Excelsior says:

            I mentioned the pullback would be a buying opportunity.

            Glenfidish, you mentioned you felt when Gold corrected it would be heading much lower, and that you “believe it will be scary”. I didn’t get the impression from that you felt this would just be buying a good pullback.

            Glen – How “scary” do you think the pullback will be when gold puts in it’s top that you see and starts heading lower? Do you have any downside targets?

          • On July 12, 2020 at 10:20 am,
            Matthew says:

            The pullback would be a buying opportunity?
            “Gold Miners Bullish Percent Index hitting 100 is cause for concern that an intermediate top in the miners could be forming.”

            It seems we have two messages here.

          • On July 12, 2020 at 10:32 am,
            Excelsior says:

            Yes, for those that can read there are two messages. I also wrote this:

            “I’m just trimming some of the runaway stocks to keep raising cash to deploy when the corrective move comes and then ride it up the next leg higher.”

            1) trim when things are overbought
            2) buy when they pullback

            It isn’t rocket science.

          • On July 12, 2020 at 10:35 am,
            Excelsior says:

            I also wrote this down below when Glen stated he expected once Gold topped for it’s correction to be scary:

            “I’m not expecting the pullback to be scary, as there are too many fundamental drivers that are bullish for Precious Metals, and I still expect Silver to keep ratcheting higher after taking a breather. I’m just looking for a normal and healthy corrective move that washes out this euphoria sentiment, and provides a base to build the next leg higher off of.”

          • On July 12, 2020 at 10:44 am,
            Excelsior says:

            You can scoff at the BPGDM indicator and say it’s one of the worst sentiment indicators all you want Matthew, but I’ve used it as a tool at both tops and bottoms, and while it may show overbought or oversold for a while before the tide turns, it has been a helpful tool for me (and many other investors) as a general guide and confirming indicator (that should be used in conjunction with others) for when to be buying bottoms and selling tops.

            I simply shared the info on the BPGDM hitting the rarefied air of 100 and the article from Przemysław Radomski, which makes the same point as point, to bring some awareness of how overbought many mining stock charts have become since ripping higher since the March lows. I’m not a perma bull and don’t always think it is time to buy, buy, buy. The time to be adding to mining stocks was in March and April, and in my observation it isn’t a bad idea to consider trimming back some stocks that have had outsized gains over the last 4 months to lock in profits. If the miners do then correct back down, then it would time to redeploy those profits at a lower price, as I still believe we are in a bull market.

          • On July 12, 2020 at 10:52 am,
            Excelsior says:

            @Excelsior – August 19, 2018

            “$BPGDM looking fugly…. but is also at oversold levels where a reversal is due in short order. ”

            “This makes a rally in the miners look even more imminent.”

            ___________________________________________

            The GDX bottomed 2 weeks later and has moved up steadily ever since that low reading.

          • On July 12, 2020 at 10:52 am,
            Matthew says:

            You know what else is not rocket science? Answer: The difference between a pullback/buying opportunity and an intermediate term correction.

            It seems you think the two will be the same this time, hence the “trimming” talk rather than selling. Or maybe real selling isn’t something you do. Most don’t.

            Glen can correct me if I’m wrong but I think he sees no more than “buyable” pullbacks for now and a scary intermediate term correction later (as do I).

          • On July 12, 2020 at 10:56 am,
            Matthew says:

            You have never used the BPGDM at this stage of a bull market before and all the verbiage in the world can change that.
            Radomski is one of the worst guys to pay any attention to and might have THE worst record.

          • On July 12, 2020 at 11:13 am,
            Excelsior says:

            Matthew I love how you continually think you know more about what I’ve done, than me.

            I used the BPGDM indicator back in the summer of 2016 as part of the rationale to be trimming back winnings, and many thought I was selling far too early then and held onto full positions as they corrected down the balance of that year. As posted above, I used the low reading in BPGDM in August of 2018 saying that things were far to oversold and there was an upturn in the miners imminent — and there was.

            Again, ignore the indicator or make fun of it all you want. I didn’t create it, and simply use it as one of many confirming tools. The miners are overbought, and I’ve already stated in a bull market that they can stay overbought longer than usual, but the reading are frothy and the sentiment from investors is getting euphoric. In my experience that is a good time to start banking a few profits, and most of the miners are up 100-500% so those a nice gains in a partial position.

            ______________________________________________

            As for what Glen has said, he’s repeatedly written that he felt Gold would get up to $1820-$1840 and then correct, but recently adjusted that window up to $1840-$1880. Now he is saying that his upside target is not $1881-$1884, so it’s a bit confusing keeping up with where he thinks this move will top.
            Glen just wrote this down below on this weekend’s blog:

            “Peak comes in imo in the 4-6 week mark. I have my own number which is not $1881-$1884 ex, but I would say that would be a really smart area to unload a good chunk of your trading chips.”

            “Your correct wolf a correction will come, but first I need to see how gold reacts at the $1840-1880 region in combination with my miners. Than I think I will have a clearer picture of how steep this drop will be. Something I have spoken to Matt about. The tricky part is always trying to figure out if this correction will be “more” significant. I’ve put myself out there already and I believe we are headed lower when we get there.”

            “The correction is coming I agree.. i also believe it will be scary. I’m one of very few if not the only thinking this scary.”
            ______________________________________________

            I asked Glen the following to clarify precisely what he is saying about the correction.

            Glen – How “scary” do you think the pullback will be when gold puts in it’s top that you see and starts heading lower? Do you have any downside targets?

            _____________________________________

            As for what I stated 2 weeks ago, and last week, and on Friday, I just think it will be a normal corrective move, and have stated previously on here a few times that I’d be looking at a 23.6% or 38.2% Fib retracement from the $1671.70 level to whereever Gold corrects from in the mid to high $1800s.

          • On July 12, 2020 at 11:57 am,
            Matthew says:

            I said: “Sentiment tools are great but should not be the reason we exit or enter a trade.”

            That’s a fact if you know what you are doing with your charts. I did not “make fun” of the tool.

            Sorry but you have no way of knowing how “frothy” sentiment is based on the fact that 100% of GDM components were on P&F buy signals. At this stage of a real bull market in the miners (most of the last bull market was not real as the miners underperformed gold overall most of the time), an extremely elevated number of senior gold stocks can remain on such buy signals for much longer than you think. Again, your wonderful experience with the BPGDM does not include this part of a bull market.

            Has it not occurred to you that the tool would be much more likely to work during bear market counter-trend moves or 2016 type moves that are destined to give almost everything back? If it hasn’t occurred to you, then maybe you don’t understand all that you think you do. Be offended (again) if you wish but the assertion is warranted.

            As for what you said two weeks ago, calling a corrective move “normal” isn’t helpful but your targets are and I bet they are optimistic. A “normal” correction from 1880 would include targets near 1600, 1550 and even lower. The question is which it will be.

            I think the high is where you and Glen agree. I think gold will probably go higher before putting in an intermediate top and I also think it could/should easily happen by mid August. The summer doldrums crowd will scramble back in under FOMO distress only to play bagholder until around Christmas when most give up and sell at a loss.

          • On July 12, 2020 at 12:43 pm,
            Excelsior says:

            The BPGDM is a tool and it works in all markets bullish or bearish. The readings can stay more extended in extreme bear or bull markets like any indicator, but I’ve already stated that a number of times, so I’m not sure why you keep beating a dead horse about that. (?) I’m in agreement the indicators can stay overbought longer than most expect, and stated that myself several times just this weekend.

            The extreme readings worked just fine marking a low back in Dec 2015 (when things were really bearish), in the summer of 2016 when things were overly bullish, in late August of 2018 when things were overly bearish, and it will work just fine now in July 2020 when things are overly bullish once again. If 100% of the companies are a buy on the point and figure chart then everyone is all on one side of the boat, so staying 100% long here is not a contrarian position, but trimming some into the strength is.

            Look, if the miners run for a few more weeks great. I hope they do as I haven’t trimmed back everything I want to and do so from higher prices will not hurt my feelings. If I end up trimming some back just a little bit early, who cares….

            I’d rather catch the meat of the move higher, and reduce down position sizes to get a bit more defensive when people are 100% bullish on all gold miners. I won’t be exiting the entire positions anyway, and am not expecting a long protracted correction like Glen seems to be, but a mild pullback that may move sideways for for 4-6 weeks. I’m saying in the short term things are getting a bit overcooked, and I believe we’ll see better prices to buy them back in a month or so.

            There are some stocks awaiting drilling news that I won’t be exiting until that news comes out, to see what they find, so I’m not touching those kinds of exploration stocks, more so the developers and producers that have really run hard since the March lows.
            _____________________________________

            I don’t think a “normal” bull market correction in Gold would take it down anywhere close to $1600 or $1550 and that is not what I’m expecting at all, and certainly not what I was implying.

            I stated that I’d be looking at a 23.6% or 38.2% Fib retracement from the $1671.70 level to wherever Gold corrects from in the mid to high $1800s. Let’s say for example gold gets to $1880 and then starts to correct. A 23.6% retracement of the move from $1671.70 to there would be back to $1830.84, and 38.2% retracement would be back down to $1800.47. That’s all I’m saying and then I’d reload there in the miners after sentiment and pricing cools off a bit.

            I’ve already said a half dozen times for the last few weeks that I believed we’d get up into the mid to high $1800’s, then have a healthy corrective move where gold would build a new base and gather the energy to make another move higher at taking at the all time high of $1923 later this year, with an initial target of $1935.

            Hopefully that clears up any misconceptions about what I meant or have said repeatedly.

          • On July 12, 2020 at 12:51 pm,
            Excelsior says:

            At this point nobody has any idea of whether Gold will even make it up to $1840 or $1880 before correcting, so until we see where Gold actually puts in a peak, then it is all hyperbole.

            My only point was a simple one. With the BPGDM flashing 100 last week, it is a warning bell when 100% of gold stocks are a buy, to start paying attention to the overly bullish and frothy sentiment. I’m not saying sell everything tomorrow, or that the miners can’t go even higher for a few weeks. I’m saying I’m trimming back some of the bigger winners as paying attention to this indicator has served me well a number of times at critical turns in the past. I’ll be looking for more bullish strength to sell into over the next few weeks and believe there were be a better buying opportunity again in many names after things cool off a little bit. That’s it.

          • On July 12, 2020 at 1:26 pm,
            Matthew says:

            Re: “The extreme readings worked just fine marking a low back in Dec 2015 (when things were really bearish), in the summer of 2016 when things were overly bullish, in late August of 2018 when things were overly bearish, and it will work just fine now in July 2020 when things are overly bullish once again.”

            You completely missed my point. We are all well aware of what the tool did in those moves but none of us has seen it in action during the part of the cycle we are in right now because the tool didn’t exist 20 years ago let alone 40+ years ago.

            Re: “If 100% of the companies are a buy on the point and figure chart then everyone is all on one side of the boat, so staying 100% long here is not a contrarian position, but trimming some into the strength is.”

            Close enough during counter-trend moves but absolutely not necessarily correct during a true bull market. Smarter/bigger money will easily put the whole sector on P&F buy signals without any participation from the dumb-money majority. How is this not obvious to you?

            I stand by my claim that it is more appropriate to add to positions here than to trim them (on NET, of course, individual stocks can present completely different situations).
            I remain more than 100% long.

            The BPGDM can come off a lot from its current level without marking a significant top. Likewise, it can be much lower than its recent 100 when it DOES mark a major top. If that’s good enough for you, cool!

          • On July 12, 2020 at 1:36 pm,
            Matthew says:

            Re: “At this point nobody has any idea of whether Gold will even make it up to $1840 or $1880 before correcting, so until we see where Gold actually puts in a peak, then it is all hyperbole.”

            Nobody knows for sure but some people have a better idea than others. In addition, the BPGDM is about the miners, not gold, and they can move up significantly while gold does little to nothing, especially under the current circumstances. So if gold takes until mid August to reach something like 1880, there’s no telling how much higher the miners will be. It could be 5% but it could also be 30% based on the looks of silver (the recognition by the herd that this will be an inflationary bull market).

          • On July 12, 2020 at 2:33 pm,
            Excelsior says:

            I’ve also been more than 100% deployed (since I’ve had many bought on margin) since March and will be lightening up some.

            Yes, I agree that when big money comes into the sector it puts everything on a P&F buy signal, which is pricely what has been happening the last few months. There has been uncharacteristically massive volume inflows in so many stocks and this is not all dumb money coming it, but rather some of the family funds, hedgefunds, and institutions.

            Again, I don’t disagree that the miners can keep running higher here even if gold stalls or just meanders higher, and as they do I’ll be lightening up on them.

            Yes Matthew, I’m aware that the BPGDM is about miners – no need to be patronizing. The gold and silver miners tend to track the movements in the metals, so when the metals put in short-term tops & bottoms those trends synch up in the miners overall (of course there are short-duration divergences from time to time).

            If the miners go up another 5-30% as a group then great, as I’ll still have my core positions in place as I trim into that coming strength. I may be leaving a little money on the table as I trim some positions back by 20-50% over the next few weeks, but I’ll know I have the cash to deploy when the stocks pull back (which most don’t and go all in and hold on as things correct down and don’t have any ammo left to fire off).

            As long as I catch the majority of the move, which I have at this point, then personally I’m thrilled.

        • On July 12, 2020 at 9:06 am,
          David says:

          One of the issues I can finally address is considering tax implications of trades. For years I have had accumulated carryover losses. I could trade to try to protect my account, but normally did not have to worry about capital gains, either long or short. Last year I depleted a majority of my carry over losses. This year, I was not concerned with tax impact coming out of the March lows. But, after the current run up in miners, coupled with churning my account more than ever, I am looking at less than 5% of my account qualify as long term and two of those are Great Bear and Silvercrest. As of today, I have offset all capital gain carryover losses and am in the green for taxable exposure. I am not complaining, but only saying that my frequent trading activity is somewhat modified by adding in that with every trade may be an additional 25% or so of short term tax implications. Obviously a good situation, but there is the counter consideration of the irrational correction to the downside that removes the upside of the miners as has been the history of the last 8-19 years, while simultaneously increasing my tax requirements. I am just mentioning it as a consideration in taking profits that may be all short term. I guess a good problem to think about.

          • On July 12, 2020 at 5:20 pm,
            Excelsior says:

            Good points on the tax ramification of short-term vs long-term (more than 2 years) holds. Yes, having a few carryover losses can help minimize this, but ultimately if the gains are large enough, then it’s worth the tax implications. I have a buddy that’s said since I’ve know him that he wants to pay millions in taxes every year, because it means he’s done pretty good in business. 🙂

        • On July 12, 2020 at 7:12 pm,
          Glenfidish says:

          Ex,

          I leave for a day and all hell breaks loose lol. Listen my friend I don’t have any issues with you trimming or putting money on the sidelines for a correction because of certain indicators. Seriously to each there own. You made a case that the bullish percentage indicator was reading 100 and it doesn’t matter how you slice the cake and to you that was enough cause for concern for a correction. I was just making the case to our viewers that in a bull and in an intermediate advance those such indicators including others can stay overbought and over extended. Even the stochastics as they are rolling over on a monthly can make the stocks go much higher. It doesn’t matter how you play the game or invest as I know both you and Matt have your own methods. But you really strike me as an investor with a very conservative approach which is not a bad thing or an insult. You enter early and get off quickly that’s how my interpretation of your talk comes across and I would tend to think Matt probably thinks the same way. Again maybe I’m wrong but when you type is always see two messages as Matt days which comes across as confusing to the audience I think.

          Nevertheless o have been 100 percent consistent with my calls you can cut and paste all you want ex but I’ve been clearer than anything and have not change my tone.

          I don’t even no how far back it goes but I constantly back it up in “real” terms not after the fact or events. I’ve put myself out there and Jerry and many others have seen.
          Time and time again. There has been no change.

          My language has been this ex. $1740-$1760, $1780-$1800 both hit…and never did I say that’s it we are falling back. All the while I spoke off a correction “would come from higher numbers” I did not give a specific number like you did. I also mentioned $1820-$1840 was next target and a given. I spoke of it as a target zone. It hit $1836 I believe. Here Iam today and can’t be more clear for you ex. We will 100% be hitting $1840-$1880 region before any significant correction.

          Yes I have been clear and said that at that point of $1880 region, selling a good amount would be wise but as Matt said it could take sometime to get there all the while the mining stocks going higher. I’m on the same boat as Matt here. I’ve made it 100% clear that my existence number will not be shared but I “did” say that my target was higher than $1880 and lower than $1923.. it doesn’t take a wizard to figure that out and I’ve just given away info that I already knew way back than before and if this mining gurus we listen to on podcast. To be frank I skip more than half because there always late to the game.

          I’ve maintained 4-6 weeks a few backs mentioned in here. Today as I type it’s no different ham Matt. If you want to know first or second week of August possibly third comes in at a top for me. And yes my corrective move I’m looking at won’t be $100 dollar trimming it will be more than that. Not sure what your definition of scary is? Give me a number for me it’s more than $100-$150 and I believe it will.

          All this is real time ahead of the game for all.

          Hope this clarifies things

          • On July 12, 2020 at 8:12 pm,
            Excelsior says:

            Thanks for expanding on your outlook Glenfidish, and yes, you have me pegged correctly – I am actually a more conservative investor by nature. I like to get in early when assets are just about to turn up or in the process of turning up, and then after that have been out-sized gains start the process of fading out of them in tranches. This approach has served me well all these years, when many others overstayed their welcome, being greedy for more gains, and then so many got stuck holding the bags when corrections came.

            There are still some folks here sharing stories of how they are still hanging onto mining positions they had from back in 2011, so the biggest issue I see most investor having is buying into weakness and then selling into strength. I’d just rather get in, make big gains and get out, but I often leave an iron or two in the fire in each position in case the miners keep on running. As long as I catch the majority of the move, then I’m a happy camper. My weakness is occasionally trimming a bit too early, but I’ve never blown up my account doing that. 😉

            Again, I agree that the indicators can stay overbought for longer in bull markets, and as mentioned above, I hope that the miners do continue to keep running because I’d rather sell them into solid strength than watch them start turning down.

            My only point with the Gold Miners Bullish Percentage Index flashing 100 was that it is rare, and obviously excessively bullish and overbought. Can it stay like that for a few more weeks. Sure it can, and I hope it does for everyone invested including me, as I’m not liquidating all my positions, just trimming the hedges back a bit. 🙂

            Cheers and may your investments be prosperous.

          • On July 12, 2020 at 8:21 pm,
            Matthew says:

            Ex, I have to point out that your way and the “greedy” way are not the only two ways. Some people are good at wringing out the bulk of a move without greed and without overstaying their welcome.

          • On July 12, 2020 at 10:03 pm,
            Excelsior says:

            Thanks for pointing that out Matthew. On certain runs an investor may wring out the bulk of a move, but not every time, and very, very, few can do that even a few times.

            The whole reason there is a term “bagholder” is because so many investors don’t know when to sell, and get caught stuck in a position – even technicians that know how to read a chart. Different TA approaches prove more effective on different runs and then many not be as effective on the next run. Sometimes Elliot Wave works and sometimes is way off. Sometimes Japanese candlestick patterns nail a top or bottom, and other times the pattern doesn’t play out. Some time Schiff Forks are instructive, and other times price movement moves right through them without much correlation. Nothing is 100% accurate, and the best traders are only right about 60% of the time.

            I know I’ve been on the wrong side of many trades, and held onto positions that corrected down my fair share in the past, but I just do that much less than I used to, and I’m sure it’s happened to you as well over the last few years.

            I wonder many people actually “wrung all the value” out of the surge higher in 2016 and sold out of everything at that peak? Likely zero. I was aggressively buying in late 2015 tax loss and early 2016 when most were not, as I know you were and few others were, but I sure didn’t sell everything at the peak in July/August. However, by using the oversold indicators (with full understanding that they can stay overbought longer than folks expect) I at least was trimming back then in July and August and was quite vocal about taking some winnings off the table then. It is very much in my top of mind awareness at times like these, because I took a lot of shit from people over it, with them saying I was way too early and the bull was just getting started. My only regret was not selling more at that time, and I was right to exercise caution then.

            I’ve also been pretty damn accurate in catching the bottoms and knowing when it is time to aggressively buy when so many are giving up in despair. I was banging on the drum in August of 2018 and again in December of 2018, and those were the times to buy. I was one of the few people on here pointing out what a great buying opportunity it was in the grossly oversold markets in mid-March, and in real time mentioned I was deploying all the dry powder I could and even taking money out of deep savings to deploy. None of that was “after the fact.” Most of the respected pundits and experts that came on here or on other sites were advising moving to cash and waiting it out, which was the exact opposite of what they should have been doing.

            As a result of buying when things were very oversold I’ve had phenomenal gains in most of the those positions and my account has never been higher, but my experience and the info on the charts shows very overbought conditions right now, and I’m saying is people would be wise to at least start considering what is their strategy and exit plan before the next corrective move? What is their goal for the positions they have in place and when will they have made enough to have had a successful trade where they can at least take some (not all) of their chips off the table.

            All over the stock forums there are people celebrating and giving themselves high fives on the massive runs most mining stock have been on over at ceo, at stockhouse, on hotcopper, in the comments at Seeking Alpha, and it is definitely starting to get more euphoric in the sentiment. When that is confirmed by chart indicators like the BPGDM hitting 100 (which is extremely rare in it’s 20 year existance), or RSI and Slow Stochastics buried in the 80-100 range, then it seems quite unwise to dismiss those and go along just to get along with the herd, because it is a bull market. I’m sure there is some action left in this particular leg higher in the metals and the miners, and I’ll do my best to wring as much out of the next few weeks as possible, and I don’t expect a terrible correction, because I expect the dip to be bought and for Gold to make a move at the all time high of $1923 this year. After that, then sure, a more meaningful correction may play through for a while. That is not the kind of correction I was talking about though. My point that with things this overcooked, we may see a mild correction when Gold gets up in the mid $1800s (which it just was at last week), and already pointed out Gary Wagners $1880 target last week as a reasonable resistance level for it.

            I know you and Glen are not folks that go with the herd, and do your own research and have your own methods, and if you both believe there is still a lot of room left to run, then that is worth considering. Despite our differences of opinions, I respect both of your points of view, but certainly don’t believe that you or Glen always wrings the bulk of the move. Everyone is caught on the wrong side of trade or a chart from time to time, and a nobody nails every move from bottom to top, and I never claimed to either. Having said that, I deployed everything I could at the bottom in mid-March and knew it was the time to be buying and was spot on about that. As to when to sell, that is always the more difficult part of the equation, but I’ll feel no shame in booking fantastic profits whenever I decide to trim some of the big runners back. If I don’t wring every single cent out of each stock then so be it.

          • On July 12, 2020 at 10:36 pm,
            Excelsior says:

            I’ll add that I’m more bullish on the Silver miners at this point than the Gold miners, because Silver looks like it has more room to run and the miners are more undervalued.

          • On July 12, 2020 at 10:54 pm,
            Excelsior says:

            Also even though I stated this up above, let me restate, that with the Exploration stocks with drill results pending, those can go up in any market, and I’m not really planning to trim those back until they put out their news from this years exploration campaigns and it gets digested by the marketplace.

            With gold prices this high and silver prices rising, then I expect those kind of drill plays to continue to do well if they deliver, regardless of the macro backdrop in the sector.

          • On July 12, 2020 at 11:06 pm,
            Matthew says:

            I can’t begin to address all that’s wrong with your comments so I’ll address just these two:

            “Some time Schiff Forks are instructive, and other times price movement moves right through them without much correlation. Nothing is 100% accurate, and the best traders are only right about 60% of the time.”

            First, you do not understand pitchforks of any kind, not just the Schiff. They are meant to identify trend slopes and even when they do so very well, it is no problem when price eventually breaks out. I am not going to explain.

            Second, the best traders don’t act on predictions. They maximize opportunity while minimizing risk.

          • On July 12, 2020 at 11:25 pm,
            Excelsior says:

            I never said traders act on predictions and am well aware the point of TA is maximize opportunity and minimize risk. That was as generic as it was obvious.

            You conveniently never address 90% of the points I respond with, and like to cherry pick one or 2 small nitpicky areas in a pompous or snarky response back, and rarely take the time to point out the areas you agree with or even have a normal discussion.

            Matthew, sorry dude, I don’t believe you wring all the value out of moves all the time, and yes, there have been tons of studies done that best traders are only right about 60% of the time, and many funds and traders can’t even beat the underlying indexes. Some technicians do better by looking for good risk/reward probabilities, but none of them nail every move including you, so get off your high horse already.

          • On July 13, 2020 at 12:10 am,
            Matthew says:

            The irony that’s lost on you is that you’re the one that thinks he has all the answers. My stance is not that I know it all but merely that you do not.

            You’re an honest and nice guy of (I believe) very good character but the countless ways that you could be wrong never seem to dawn on you. You’ve got a story for everything that happens or doesn’t happen in the market and I can spot enough errors in them to call everything else into question. Like your non-example example about the Schiff fork. You’re BS-ing (not the same as lying but related). As for your studies about the best traders being right 60% of the time, so what? To borrow from Bob Moriarty, even if that is perfectly true, it is perfectly meaningless. You need a study that shows how good the best traders are at wringing returns from the trades that don’t get stopped out or, better yet, how well they play/stick-with/wring out a big trend, failed trades and all. So you have a logic problem in addition to a BS-ing one.

            For the record, I never said that I wring all the value out of every or even most trades but I have said more than once that I an wrong all the time. Sorry dude.

          • On July 13, 2020 at 12:40 am,
            Excelsior says:

            Matthew you are too much sometimes. I just got done stating that I make mistakes all the time, and never said I had all the answers, and don’t troll you around trying to point out who is wrong or right, or taking umbrage with the smallest passage, while missing the entire point of what is being written.

            It is you that the irony is lost on constantly telling others that they are wrong or acting like your definitions of words or interpretations of others is the right way to look at things. Who the hell made you the judge of truth and what is right or what is or is not BS. Get over yourself and your myopic view of truth.

            You rarely have a real conversation agreeing on some points, addressing the main part of the dialogue, and more often than not you are just looking for small areas to be argumentative, and inflate them into the conversation being had (cutting out all the context around them).

            As a refresher, I was responding back to Glenfidish and you felt the need (in your all knowing way) to point out “Some people are good at wringing out the bulk of a move without greed and without overstaying their welcome.”

            To quote Bob M right back at you on that, “even if that is perfectly true, it is perfectly meaningless.”

            Since you felt the need to bring it up it sure seemed like you were implying that was your (superior) method, since you just had to make a distinction between the method I was describing, and the greedy method of overstaying their welcome and becoming bagholders like so many investors do.

            I responded back “On certain runs an investor may wring out the bulk of a move, but not every time, and very, very, few can do that even a few times.”

            “The whole reason there is a term “bagholder” is because so many investors don’t know when to sell, and get caught stuck in a position – even technicians that know how to read a chart.”

            You often lecture me on what you think I think, what you think I understand, or what you think I did, and get it 100% backwards and mixed up, but I don’t tell you how wrong you are, but instead take the time to respond back and clarify my position.

            You skip over 90% of the meat of the point, to ridicule someone over some point you disagree with, and throw the whole statement out as BS, in your blind arrogance. Then you have the audacity to lecture me on what studies I should be conducting about these mythical traders that are “wringing returns from the trades that don’t get stopped out or, better yet, how well they play/stick-with/wring out a big trend.” Then you go on to insult and say it is me that has the logic problem. Again who the fork made you the king and judge of what is or is not rational thought.

            Thanks, for your opinions, but there are no problems with studies I brought up, and there is once again the air of condescending superiority in almost every thought you wish to convey, and you act like everyone is stupid but you have all the answers. You don’t have a stranglehold on truth and logic Matthew.

            This is tiring, and I’m done trying to have a discussion with you on this, because you don’t really want to have a discussion – you just want to argue and take swipes, and have been doing this for weeks now with me, ever since I said Brixton has exploration ADD and a lack of strategy the last 4 years, and you got your panties in a bunch over it. Good luck to you and your opinions on what is true and logical.

  6. On July 11, 2020 at 7:46 am,
    SilverDollar says:

    Mike Larsen’s comments are believable and far reaching. I think those who follow him will do quite well in coming years. JMO

    • On July 11, 2020 at 10:48 am,
      Excelsior says:

      Yes, Mike had some solid points on this weekend show regarding being stuck in the ZIRP and NIRP environment for years to come (not just months) and that the bond markets are telling the tale.

  7. On July 11, 2020 at 7:50 am,
    Dick Tracy says:

    I’m looking for the next hundred bagger, ten baggers are too common these days, it’s possible when silver starts to really move. If you get a 100 bagger you get to be called Bagdaddy! LOL! DT

    • On July 11, 2020 at 8:42 am,
      Excelsior says:

      Haha! 100 bagger = Bagdaddy. Good one DT!

      To my point up above… when 10 baggers become too common, it may signal the sector is getting a bit ahead of itself. I agree that during this bull cycle some stocks will be 100 baggers, especially if Silver gets back up into the high $20s and $30s. Look at how well Marty has done in Silvercrest with a 70 bagger already. Freegold Ventures already shot up in the last few months as a 25 bagger. I’m sure there are more fireworks to come, but my strategy in the short term is to at least trim back some of my positions that have really run to be able to buy them back up at lower prices if we do get a corrective move lower soon. Cheers!

      • On July 11, 2020 at 8:56 am,
        Excelsior says:

        To be clear, I’m likely just going to hold the majority of my positions, and am not advocating for selling everything by any means. We are still in a bull market, and most surprises will still be to the upside (like what we saw in Vizsla this week).

        Personally I’m just taking a few chips off the table in positions that have really run hard the last few months and building up more cash to deploy if the sector takes a pause that refreshes.

        • On July 11, 2020 at 10:13 am,
          Glenfidish says:

          Your caution ex is warranted :). Pulling some chips on the sidelines is always a wise thing. Personally I’m all in short and long. I feel really good until the $1840-$1880 area comes in. Than and only than very few have palpitations that are normal. Everything thus far for me points to $1880 a for sure thing.

          But let’s take it day by day. The correction is coming I agree.. i also believe it will be scary. I’m one of very few if not the only thinking this scary.

          Glen

          • On July 11, 2020 at 10:39 am,
            Excelsior says:

            Hey Glenfidish. I agree that from time to time, pulling some chips off the table and booking profits is a wise thing to do (otherwise they are just paper profits and not real, and they can evaporate as quickly as they were made).

            Some individual stocks may very well keep running (especially if Gold gets up to the $1840-$1880 area before correcting), but with the Bullish Miners Percentage Index flashing 100 that is showing how overbought these PM miners are as a group.

            I’m not expecting the bullback to be scary, as there are too many fundamental drivers that are bullish for Precious Metals, and I still expect Silver to keep ratcheting higher after taking a breather. I’m just looking for a normal and healthy corrective move that washes out this euphoria sentiment, and provides a base to build the next leg higher off of.

          • On July 11, 2020 at 11:11 am,
            Excelsior says:

            The Remarkable Gold Index Sign Vs. the Miners’ Strength

            Przemysław Radomski – Jul 09, 2020

            “The take-away is the long-term turning point is a big deal, and gold could fall significantly before it soars due to extremely positive fundamental outlook.”

            “The only other case when the index was at 100, was in mid-2016. We marked this situation with a vertical dashed line. Did miners continue to move higher for a long time, or did they move much higher? No.”

            “Precisely, the index reached 100 on July 1st 2016, and gold mining stocks moved higher for two additional trading days. Then they topped. This was not the final top, but the second top took miners only about 5% above the initial July high.”

            “This year, the index reached the 100 level on July 2nd – almost exactly 4 years later, and once again practically exactly in the middle of the year. Yesterday was the third day after this move. It’s not justified to assume that the delay in the exact top would be 100% identical, but it seems justified to view it as similar.”

            https://www.fxempire.com/forecasts/article/the-remarkable-gold-index-sign-vs-the-miners-strength-660166

          • On July 11, 2020 at 11:12 am,
            Excelsior says:

            While the set up in PMs or the macro economic backdrop today is not anything like what it was in 2016, that Gold Miners Bullish Percentage Index (BPGDM) hitting 100 is cause for concern that an intermediate top in the miners could be forming.

            Something to keep an eye on and be aware of.

          • On July 11, 2020 at 5:00 pm,
            OOTB Jerry says:

            Climbing the Wall of scary…..and rightfully so…..
            More stimulus on the way….the elites love it….sheeple are getting fleeced and they like it.
            Demwhits on politics , are driving the economy into the ground, but, wait ….what economy, been all speculation for years…..
            GOLD GOING HIGHER……and a LOT HIGHER…..with some pull back…….JMO

          • On July 13, 2020 at 7:43 am,
            OOTB Jerry says:

            Ex…………ditto”’…. I’m just looking for a normal and healthy corrective move that washes out this euphoria sentiment, and provides a base to build the next leg higher off of.
            Pause……in the action……then look out…..
            As long a the FED IS PRINTING…….Up she goes…..long term…..

          • On July 13, 2020 at 8:28 am,
            Excelsior says:

            Bingo OOTB. Agreed.

    • On July 11, 2020 at 1:41 pm,
      bonzo says:

      NULGF might be a 200 bagger if they find a 50 million oz elephant, which Quinton thinks could happen, but if they find only 5 million oz they could be a 20 bagger.

  8. On July 11, 2020 at 10:37 am,
    cfs says:

    Blow off top nearly over for regular stocks ?

    https://www.youtube.com/watch?v=fvO5XBU6ylg

  9. On July 11, 2020 at 12:02 pm,
    Excelsior says:

    Gold Weekly Price Forecast – Gold Markets Finally Pierced Major Level

    Christopher Lewis – FX Empire – July 10, 2020

    “Gold markets have rallied during the bulk of the week, showing signs of strength as we continue to grind higher. There are plenty of geopolitical reasons to think that gold will go even higher, not the least of which will be tension between the United States and China. Pullbacks at this point should be thought of as potential buying opportunities as the market has been rather bullish for some time, especially as central banks around the world continue to loosen monetary policy.”

    “That is typically exceptionally good for gold, and we have seen that well-known trade play out yet again. I think at this point it is likely that pullbacks all the way to at least the $1750 level should find plenty of buyers, so what I will be doing is looking for support of daily candlestick that I can take advantage of and start buying in the direction of the longer-term weekly candlesticks.”

    https://www.fxempire.com/forecasts/article/gold-weekly-price-forecast-old-markets-finally-pierced-major-level-660452

    • On July 11, 2020 at 12:04 pm,
      Excelsior says:

      Silver Weekly Price Forecast – Silver Markets Finally Break Out

      Christopher Lewis – FX Empire – July 10, 2020

      “Silver markets broke higher during the week, clearing the $19.00 level finally. This is an area that has been extraordinarily difficult to overcome, so it is not a huge surprise that we would see a little bit of a breather being taken into the weekend. Having said that, if you look at the two previous weekly candlesticks, we had formed a hammer followed by a shooting star. If you remember, I said this normally dictates that we are seeing a bit of a range be formed. When she breaks out of that range of those two candlesticks, then in theory should continue going higher. So far that has been exactly what happened. I fully anticipate that silver will go looking towards the $20 level, but it does not necessarily mean that is going to be easy.”

      https://www.fxempire.com/forecasts/article/silver-weekly-price-forecast-silver-markets-finally-break-out-2-660458

      • On July 11, 2020 at 12:49 pm,
        Excelsior says:

        Gold trades and closes above $1800 per ounce

        July 10, 2020 – Gary Wagner #TechnicalAnalysis #Chart #VIDEO

        https://youtu.be/e7UJNwDmTQQ

        • On July 11, 2020 at 12:51 pm,
          Excelsior says:

          Ira Epstein’s Metals #Video (7/10/2020)

          Technical Analysis,Gold, Silver, Copper, Platinum

          https://youtu.be/fHhsjci4OcI

  10. On July 11, 2020 at 5:41 pm,
    JustTruth says:

    200+ mm share structures doesn’t mean anything. What matters is the valuation of the company and quality of investors backing it. Eskay has 800 MM shares and Quinton is a technical advisor and promoting the company.

  11. On July 12, 2020 at 6:44 am,
    Dick Tracy says:

    Calvin Coolidge who had not chosen to run for President in 1928, must have felt like the man who had dodged a bullet, Trump’s greatest mistake is in trying to get himself re-elected for the 2020-24 term. Prosperity can’t be handled by Presidential decree and The Federal Reserve, it can only happen by allowing the market to regulate itself. DT

  12. On July 12, 2020 at 9:49 am,
    Excelsior says:

    Another #MegaMiningMerger is complete:

    Shareholders Overwhelmingly Approve the Merger of SSR Mining and Alacer Gold
    by @newswire on 10 Jul 2020

    https://ceo.ca/@newswire/shareholders-overwhelmingly-approve-the-merger-of-ssr

    • On July 12, 2020 at 10:06 am,
      Excelsior says:

      (NVO) (NSRPF) Novo Completes Acquisition of Mt. Elsie Project
      by @nasdaq on 10 Jul 2020

      https://ceo.ca/@nasdaq/novo-completes-acquisition-of-mt-elsie-project

      • On July 12, 2020 at 10:11 am,
        Excelsior says:

        (FGC)((FLDPF) Frontline announces Acquisition of Large Gold Exploration Property strategically located in Northwestern, Ontario
        by @thenewswire on 9 Jul 2020

        https://ceo.ca/@thenewswire/frontline-announces-acquisition-of-large-gold-exploration

        • On July 12, 2020 at 10:14 am,
          Excelsior says:

          (PRB) (PROBF) Probe Metals Expands its Detour Quebec Project Land Package with Option Agreement with (MD) Midland Exploration
          by @nasdaq on 9 Jul 2020

          https://ceo.ca/@nasdaq/probe-metals-expands-its-detour-quebec-project-land

          • On July 12, 2020 at 10:19 am,
            Excelsior says:

            (CD) (CTXDF) Cantex Announces 48 Gold and Base Metal Discoveries on North Rackla Claims in the Yukon
            by @newswire on 9 Jul 2020

            https://ceo.ca/@newswire/cantex-announces-48-gold-and-base-metal-discoveries

          • On July 12, 2020 at 10:54 am,
            Dick Tracy says:

            I meant to buy into Cantex after it had that great run and then retraced, there is so much of interest out there that you can’t love them all, Fipke is a winner with a huge following. DT

          • On July 12, 2020 at 12:11 pm,
            Excelsior says:

            As for Cantex I was vocal over at ceo.ca that the valuation that it had reached last year at over $7 a share and $300 Million market cap on just a few discovery holes, before most of the lion’s share of the drilling was even reported, had gotten a bit ridiculous.
            _____________________________________________________

            @Excelsior 21 Aug 2019, 22:46 pm

            “Wow! I did not realize until watching the video above with Joe Mazumdar on BNN just how much (CD) Cantex Mine Development was up 2,000%+ this year. Gotta love a speculative fervor!”

            “To put things in perspective (CD) Cantex is a #Silver #Zinc #Lead #explorer that has a Market Cap of over $305 million !!”

            “(USAS) Americas Silver is a #Silver #Zinc #Lead #producer with 2 large mines already in #production, and newly acquired #Gold asset, from the takeover of Pershing, going into construction with a short ramp to Production as mine #3. It only has a Market Cap of $254 Million.”

            “(TV) Trevali Mining Corp is a #Zinc #Lead #Silver #producer with 4 operating mines with a Market Cap only half of Cantex at $155 Million.”
            _________________________________________________________

            DT – I bought into Cantex last December and this January and have a cost basis of $.86, but it is not a big part of my portfolio and more of a drill play lottery ticket for me. 🙂

            I agree with you that Fipke is a winner and well-respected in the mining space with a large following. Now Cantex is actually doing the exploration work to deserve a share price appreciation from these far lower levels.

            Here’s what I posted earlier in the year:

            __________________________________________

            @Excelsior – 20 Jan 2020, 15:30

            “No my $CD position is only about 1.5% of my portfolio, and I just bought 2 smaller tranches over the last 2 months, so my cost basis is around $.86 (which is underwater at present, but I picked it up for the work they do in 2020 as a drill play).”

            “It just seemed odd that it has gone below where it was pre-discovery, since they did at least drill up some interesting Zinc/Lead/Silver holes last year and have a better understanding of the geology now, than they did before the huge run up in share price. Also, in their most recent press release it mentioned there were still a few assays pending, so it seems unusual to sell off so hard in front of them being released during a period of no news.”

            _____________________________________________

            …. and now the gradual share appreciation has started as they do work in 2020. We’ll see how it goes but it is still early days and compared to where it reached last year with far less known.

            Ever Upward!

  13. On July 12, 2020 at 9:52 am,
    Excelsior says:

    (AVG) Avidian Gold Provides Update on Non-Brokered $2.5M Private Placement Including Strategic Investment by Eric Sprott
    by @nasdaq on 10 Jul 2020

    https://ceo.ca/@nasdaq/avidian-gold-provides-update-on-non-brokered-25m

    • On July 12, 2020 at 9:56 am,
      Excelsior says:

      (ABRA) (ABBRF) AbraPlata Closes $5.0 Million Private Placement with $3.0 Million Investment from Eric Sprott

      by @thenewswire on 9 Jul 2020

      https://ceo.ca/@thenewswire/abraplata-closes-50-million-private-placement-with

    • On July 12, 2020 at 10:11 am,
      Dick Tracy says:

      Ex, Avidian has a property that is bordering on Freegold Ventures Golden Summit. You probably know that. DT

      • On July 12, 2020 at 10:16 am,
        Excelsior says:

        Thanks DT. Yes, it may have a hefty deposit hiding underneath as well, and may get consolidated by Freegold down the road. Sprott is on the case.

  14. On July 12, 2020 at 10:52 am,
    Wolfster says:

    Hey Glenfidish regarding the Compass Gold. With the rainy season starting would it be setting up as a nice opportunity to accumulate some more shares on cheap???…I did think that there were some more drill results still pending but I’ve been following more metal plays than usual and I’m starting to confuse them all I believe

  15. On July 12, 2020 at 1:51 pm,
    David says:

    Excelsior in Top 10 in current rankings of Ceo.ca Summer Stock Picking Contest. So far so good.

    • On July 12, 2020 at 2:37 pm,
      Excelsior says:

      Way to go David. You are the man and you are one of the better stock pickers out there. Rooting for you sir!!

      • On July 12, 2020 at 3:36 pm,
        David says:

        No! You are in the Top 20. Big Congrats!!!!

        • On July 12, 2020 at 3:38 pm,
          David says:

          20 = 10
          Congrats Ex…You are + 180.34% up in a few weeks!

          • On July 12, 2020 at 3:52 pm,
            David says:

            Clarify: Ex in Top 10

          • On July 12, 2020 at 5:14 pm,
            Excelsior says:

            Oh, haha! I misread your initial statement and thought you were saying you were in the top 10. Yeah, I see that now due to the big VZLA surge. Thanks David.

          • On July 12, 2020 at 5:22 pm,
            Excelsior says:

            I guess to get an edge on the other Vizsla pickers, I’ll need Precipitate Gold to wake up a bit on good exploration work, and Trevali will need to get it’s financial picture cleared up as Zinc/Lead/Silver prices move higher. We’ll see how it goes…

          • On July 12, 2020 at 5:48 pm,
            Excelsior says:

            I see what was holding back Precipitate Gold (PRG) was that for the last 2 months Strategic metals was taking their investment position from 21% to 19% to raise funds. Now that they’ve wrapped that up, and things are moving along with permitting in the D.R., then Precipitate should get a bit more traction now.

            _____________________________________

            (PRG) (PREIF) Precipitate Gold – Corporate Presentation July 2020

            https://www.precipitategold.com/assets/docs/2020_07_01_PRG_Corp_Presentation-1593560174.pdf

    • On July 13, 2020 at 4:35 am,
      Glenfidish says:

      Hey wolf,

      Sorry for my late response. Many stocks move to there own tune for example Scorpio and compass. They sometimes run patterns ahead of the flock or delayed as in Scorpio of the overall trend, non the less they eventually move.

      With compass you bring up a valuable point regarding Rainy season and timing of events. What I can say is this. I’m currently not buying it but I hold a reasonable amount at lower prices and if those prices are to come again I will unload a much higher percentage to that amount.

      From this current spot it’s quite possible we get a break out to the top however if we don’t I would look to add a sizeable lot at 17-18 cents first tranch. My final tranch of the correction is deeper In gold comes in between 13-4 cents. If we get to those prices that would represent a monthly or two month correction candle getting us there which means fall low price of gold. We would than sling shot and I’d guess an easy quadruple or quintuple would follow in that cycle.

      High grades discovery at superficial depth combined with great management team hungry to build a winner. All day everyday😃

      Hope this helps

      • On July 13, 2020 at 5:04 am,
        Wolfster says:

        Thanks Glenfidish. Timing of response was perfect…morning oatmeal reading. Appreciate your input. Always like to get other perspectives…interesting that you had Scorpio mentioned as well…it looks like it’s finally getting some interest as well

  16. On July 12, 2020 at 6:11 pm,
    Wolfster says:
  17. On July 12, 2020 at 11:34 pm,
    Excelsior says:

    Silver is doing well in oversees trading this evening, with the futures up to $19.44 at present.

    https://www.investing.com/commodities/real-time-futures

    • On July 13, 2020 at 1:22 am,
      Excelsior says:

      I’m more bullish on the Silver miners at this point than the Gold miners, because Silver looks like it has more room to run in contrast to Gold, and the miners are still more undervalued.

      • On July 13, 2020 at 7:14 am,
        Wolfster says:

        Have to say I’m a little surprised at the lack of volume in the PM stocks I follow when you look at what gold and especially silver are doing today

        • On July 13, 2020 at 8:10 am,
          Excelsior says:

          Gold isn’t doing much up .4% today, but Silver is up 2.7% so I’d expect a bit more action in the Silver stocks. It’s a bit of a mixed bag as some a rallying, but there are plenty in the red or flat on the day as well.

          Maybe by the end of the day there will be more action & volume come into the sector. GDX and GDXJ are up about 1.5% today but on lower volume, but SIL and SILJ are a bit peppier, especially the latter up 2.5% on decent volume. Having said that, SILJ isn’t really outperforming the metal today.

          • On July 13, 2020 at 8:12 am,
            Excelsior says:

            Silver Is At A Critical Point Based On US Dollar Action

            Herbert Moolman / 4 hours ago

            “Betting on a silver rally when the US Dollar index is in decline makes for great odds. There have been two significant Silver rallies in the last 50 years (marked out with rectangles on the chart below). During both of these, the US dollar index was in serious decline.”

            “Below, is an updated chart previously featured:”

            https://hubertmoolman.wordpress.com/2020/07/13/silver-is-at-a-critical-point-based-on-us-dollar-action/

          • On July 13, 2020 at 8:30 am,
            Excelsior says:

            Silver futures at $19.65 – just a dime away from last years high of $19.75. It would be nice to see a close above that level today.

          • On July 13, 2020 at 8:34 am,
            Wolfster says:

            Well when markets opened gold was up around 1% and silver was up over 3%(around .67 higher) and if any thing volumes are lower than usual ….at least in those that I follow. In fact anemic would describe the volume in some of them

          • On July 13, 2020 at 8:42 am,
            Excelsior says:

            Yeah, that’s an interesting observation on the volume Wolfster. The last few weeks there has been insanely high volumes, but today there seems to be a lot of indecision in the stocks I’m watching.

          • On July 13, 2020 at 8:43 am,
            Excelsior says:

            Yeah, that’s an interesting observation on the volume Wolfster. The last few weeks there has been insanely high volumes, but today there seems to be a lot of indecision in the stocks I’m watching.

          • On July 13, 2020 at 8:45 am,
            Excelsior says:

            Yeah, that is an interesting observation on the lower volumes Wolfster. The last few months, and especially the last few weeks there has been insanely high volumes showing new money (and smart money has been flooding into the sector), but today there seems to be a lot of indecision in the stocks I’m watching.

          • On July 13, 2020 at 8:48 am,
            Excelsior says:

            Newsflash with (VZLA) (VIZSF) Vizsla Resources after Sensational Drill Results and Doubling of the Share Price

            Swiss Resource Capital AG – July 13, 2020 #VIDEO

            https://youtu.be/Auh9JZz9Jlk

          • On July 13, 2020 at 9:10 am,
            Excelsior says:

            Silver soars to 10-month highs; Endeavour Silver +8%

            Jul. 13, 2020 – By: Carl Surran

            “Comex silver futures (XAGUSD:CUR) +3.1% to $19.65/oz., charging toward their highest settlement since September after soaring 66% off their March lows.”

            “The drop in short-term interest rates and the Fed’s aggressive bond purchases have lowered yields in debt markets, reducing the opportunity cost of owning precious metals; silver’s widespread industrial applications also have helped prices benefit from the reopening of factories in the U.S., China and elsewhere.”

            “You’re flying on two engines, which are commercial demand and investor demand,” says Bank of America commodities strategist Michael Widmer. “That’s driving silver prices higher.”

            https://seekingalpha.com/news/3590615-silver-soars-to-10-month-highs-endeavour-silverplus-8?utm_medium=email&utm_source=seeking_alpha&mail_subject=exk-ag-silver-soars-to-10-month-highs-endeavour-silver-8&utm_campaign=rta-stock-news&utm_content=link-3

          • On July 13, 2020 at 9:19 am,
            Excelsior says:

            (SSV) Southern Silver starting to break out today as their ounces in the ground get re-rated higher by the marketplace. Up close to 17% on the day.

            (SCZ) Santacruz Silver also getting a bid today as Silver moves higher to their cost of production, which is the same thing we saw last year once Silver got up over $19 and started heading towards $20. SCZ up about 13% so far today, and rightly so as it is the smallest market cap Silver producer, has the highest costs, along with Endeavour Silver, and both are ratcheting higher today as Silver closes in on prices that get them closer to break even. Both EXK and SCZ have excellent leverage to rising Silver prices as distressed producers. Nice to see!

          • On July 13, 2020 at 9:25 am,
            Excelsior says:

            (BHS) Bayhorse also moving with leverage to the break higher in Silver prices. BHS up 9%.

          • On July 13, 2020 at 9:40 am,
            Excelsior says:

            EXK Endeavour Silver up 10.6% on the day.

            MYA Maya Gold & Silver up 10.85% on the day.

            The Silver producers are moving nicely on this higher metals pricing.

          • On July 13, 2020 at 9:43 am,
            Excelsior says:

            (EXK) (EDR) Endeavour Silver Produces 596,545 oz Silver and 5,817 oz Gold in Abbreviated Second Quarter, 2020

            by @nasdaq on 9 Jul 2020

            https://ceo.ca/@nasdaq/endeavour-silver-produces-596545-oz-silver-and-5817

        • On July 13, 2020 at 9:28 am,
          Excelsior says:

          Wolfster we’ve been talking about Copper on the move again lately (it’s up to $2.96 which is encouraging).

          I mentioned getting positioned in (REG) Regulus last week as I felt it was very undervalued and one of the better names and it is breaking out today up 26%. Kaboom!!

          • On July 13, 2020 at 9:30 am,
            Excelsior says:

            One of the better technicians over at ceo.ca (@Ty) posted this chart today:

            @Ty – “$REG The weekly momentum structure broke. A strong move is what should be expected when that happens.”

            http://cdn.ceo.ca/1fgp1kq-Screenshot%202020-07-13%20at%2018.06.06.png

          • On July 13, 2020 at 9:58 am,
            Wolfster says:

            ☹️….still been waiting for it to pull back cuz I never got into any copper plays despite talking about it. I thought I had time……fighting FOMO ever since. 🙄

          • On July 13, 2020 at 10:33 am,
            Excelsior says:

            Yes, as we’ve discussed the Copper stocks have been starting to move lately, but Copper back up near $3 is why. There is still plenty of time to position in the Coppers but it is sad to see some of my watchlist pulling away from the station before I was ready.

            I was just surprised by the large move Regulus, one of the few I did just get back into, and don’t normally see large double digit moves in the Copper stocks, much less when there was no discernible news out or catalyst in REG…. but I’ll take it 🙂

      • On July 13, 2020 at 8:18 am,
        SilverDollar says:

        If you’re bullish on silver, you ought to listen to this Hemke interview. It’s explosive!
        https://usawatchdog.com/jp-morgan-will-stop-shorting-silver-craig-hemke/

        • On July 13, 2020 at 8:31 am,
          OOTB Jerry says:

          No jail time……..no problem……..
          The Fake Fed……can keep this going as long as they want……….
          Similar action was in 1963……the bankers did not want JFK, extending the silver certificate
          use for the common man..results…. death of JFK……Fed Won….along with the money printing set up.
          Until the Central FAKE BANK is busted…..I serious doubt JPM….has any worry..
          Silver has been a thorn in the side of the banksters for over 100 years…..the common man does not have a hope until the bank is busted….

          • On July 13, 2020 at 8:35 am,
            OOTB Jerry says:

            I am not saying …….silver will not go up………just has to break out…

  18. On July 13, 2020 at 5:45 am,
    David says:

    Drill results out on Wallbridge this morning. Look decent.

    • On July 13, 2020 at 8:02 am,
      David says:

      Looks like Ely, with the Wallbridge royalty, had a little more response than Wallbridge. Still early and the morning algo smash on the gold/silver may be over.

    • On July 13, 2020 at 8:51 am,
      Excelsior says:

      Wallbridge has been putting out great results for the last year and a half and is one of the stand-out success stories in the space. Ely has been doing great off that news since they hold the royalty on Fenelon.

      I had a position in Balmoral but sold it on the liquidity even when the takeover news from Wallbridge was announced. It was a nice win, but I’ve considered getting back in WM again since that is such a large land package WM got from BAR.

      Cheers!

      • On July 13, 2020 at 8:55 am,
        Excelsior says:

        However, with Wallbridge having a market cap of $737 Million, higher than many actual producers with more proven ounces in the ground by a factor of 2-3, then it is hard to pick it over more undervalued options.

        • On July 13, 2020 at 8:58 am,
          Excelsior says:

          Ha! I went to go check on it an over 100 people hovering in the WM room. Hello euphoria!

        • On July 13, 2020 at 9:00 am,
          Excelsior says:

          Ha! I went to go check on it over at ceo.ca and there are over 100 investors hovering and salivating in the WM room. Hello Euphoria!

          • On July 13, 2020 at 9:33 am,
            Excelsior says:

            Uh-oh, WM price selling down some now and the Euphoria has turned to souring from investors on the news being good, but not bonanza.

            Regardless, the valuation in WM is at nosebleed levels, and while I’m surprised it didn’t stay elevated today on the good drill results, the market cap is way ahead of itself.

  19. On July 13, 2020 at 8:08 am,
    Matthew says:
  20. On July 13, 2020 at 8:45 am,
    Matthew says:

    SLV looks fantastic versus GLD and that is good news for the whole sector:
    https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=0&dy=0&id=p68959391355&a=722423179

  21. On July 13, 2020 at 8:49 am,
    Matthew says:
    • On July 13, 2020 at 8:50 am,
      Matthew says:

      The weekly looks great but is at resistance (which won’t last):
      https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=W&yr=4&mn=11&dy=0&id=p51433459770&a=757970817

      • On July 13, 2020 at 10:02 am,
        Wolfster says:

        Hey Matthew ….yes I’m loving silver but am left wondering how the likes of Kootenay and impact (it has had a nice run up before this) aren’t participating….even brixton…..it’s the utter lack of volume that has me perplexed the most

        • On July 13, 2020 at 10:45 am,
          Matthew says:

          Hi Wolfster, I’m showing each of those up more than SILJ right now and the volume for IPT and BBB appears to be on track for at least an average day while KTN volume is definitely low so far.
          I’m guessing that the players who’ve been selling are just selling more today while bulls like me are selling a little due to the gaps and/or are waiting for the market (mostly silver to prove itself) before getting excited/confident that this move up is in fact going to extend significantly higher. In other words, there is plenty of doubt to go around among both the bears and the bulls.

          I think silver is heading for 21.20 for starters and that alone would do wonders for the speculative juniors.

          • On July 13, 2020 at 11:05 am,
            Wolfster says:

            Thanks Matthew. Just getting frustrated probably. If you told me gold was up $12 and silver was up .73 today I’d have thought I was in the green not the red….

          • On July 13, 2020 at 11:15 am,
            Excelsior says:

            Overall the Silver miners are doing fine today, with lots of green on the screen.

            Symbol – $Silver #Producers – Daily Change %
            EXK Endeavour Silver +11.11%
            SCZ.V Santacruz Silver +10.26%
            MYA.TO Maya Gold and Silver +10.08%
            GPL Great Panther Mining +6.34%
            GGD.TO GoGold Resources +6.09%
            FRES.L Fresnillo +5.62%
            IPT.V Impact Silver +5.13%
            AG First Majestic Silver +4.03%
            HL Hecla Mining +3.73%
            FSM Fortuna Mining +3.58%
            USAS Americas Gold & Silver +3.25%
            SVM Silvercorp Metals +3.05%
            CDE Coeur Mining +2.81%
            HOC.L Hochschild Mining +2.75%
            PAAS Pan American Silver +2.28%

          • On July 13, 2020 at 11:16 am,
            Excelsior says:

            Overall the Silver miners are doing fine today, with lots of green on the screen.

            Symbol – $Silver #Producers – Daily Change %
            EXK Endeavour Silver +11.11%
            SCZ.V Santacruz Silver +10.26%
            MYA.TO Maya Gold and Silver +10.08%
            GPL Great Panther Mining +6.34%
            GGD.TO GoGold Resources +6.09%
            FRES.L Fresnillo +5.62%
            IPT.V Impact Silver +5.13%
            AG First Majestic Silver +4.03%
            HL Hecla Mining +3.73%
            FSM Fortuna Mining +3.58%
            USAS Americas Gold & Silver +3.25%
            SVM Silvercorp Metals +3.05%
            CDE Coeur Mining +2.81%
            HOC.L Hochschild Mining +2.75%
            PAAS Pan American Silver +2.28%

          • On July 13, 2020 at 11:17 am,
            Excelsior says:

            Lots of #Silver Juniors also on the move having a ~green day.

            Symbol – $Silver #Explorers and #Developers – Daily Change %

            CLZ.V Canasil Resources Inc. +44.83%
            SSV.V Southern Silver Exploration Corp. +29.17%
            ASLM American Silver Mining Co. +28.44%
            BCK.V Blind Creek Resources Ltd. +25.00%
            SPD.V Silver Predator Corp. +20.00%
            DEF.V Defiance Silver Corp. +17.86%
            ELEF.TO Silver Elephant Mining Corp. +16.39%
            AUU.V Aura Resources Inc. +14.29%
            IVR.AX Investigator Resources Limited +13.64%
            PSL.V Prospero Silver Corp. +11.86%
            ABRA.V AbraPlata Resource Corp. +11.43%
            SNG.V Silver Range Resources Ltd. +11.11%
            UFO.L Alien Metals Limited +10.87%
            GOG.V Golden Tag Resources Ltd. +10.00%
            RYO.V Rio Silver Inc. +9.09%
            SVB.TO Silver Bull Resources, Inc. +9.09%
            SVL.AX Silver Mines Limited +9.09%
            REX.V Orex Minerals Inc. +9.09%
            BHS.V Bayhorse Silver Inc. +9.09%
            WRM.AX White Rock Minerals Ltd +8.33%
            AUMN Golden Minerals Company +7.55%
            SVE.V Silver One Resources Inc. +7.14%
            AAG.V Aftermath Silver Ltd. +6.94%
            RRI.V Riverside Resources Inc. +6.06%
            AUN.V Aurcana Corporation +6.00%
            GRSL.V GR Silver Mining Ltd. +5.97%
            BCM.V Bear Creek Mining Corporation +5.30%
            CCW.V Canada Silver Cobalt Works Inc. +5.00%
            AXU Alexco Resource Corp. +4.74%
            SVG.V Silver Grail Resources Ltd. +4.55%
            KTN.V Kootenay Silver Inc +4.29%
            DSV.V Discovery Metals Corp. +4.17%
            DV.V Dolly Varden Silver Corporation +3.17%
            MAG.TO MAG Silver Corp. +3.02%
            MSV.TO Minco Silver Corporation +2.94%
            VML.V Viscount Mining Corp. +2.94%
            BBB.V Brixton Metals Corporation +2.04%
            SIL.TO SilverCrest Metals Inc. +1.87%

          • On July 13, 2020 at 11:32 am,
            Excelsior says:

            A poster over at ceo.ca said the metal was moving but the silver miners were asleep today.

            I responded back:

            “If that is the $Silver stocks sleeping, then I can’t wait until they wake up.” 🙂

          • On July 13, 2020 at 11:44 am,
            Wolfster says:

            He must have a portfolio similar to mine. 😞…..

          • On July 13, 2020 at 11:59 am,
            Excelsior says:

            Cheer up Wolfster. One day doesn’t make a market, but Silver is breaking out today so the stocks that are really surging on this news can be instructive. Even the ones that haven’t moved as much today, may have already moved strong the last few weeks and were just short-term overbought despite the move higher in Silver today.

            The stocks you’ve mentioned you hold are quality names and I believe you’ll do just fine medium to longer term.

            When I have days like that and am frustrated my portfolio isn’t moving like other stocks, I back away from the screen, take a walk and get some fresh air, and come back later that evening or even the next day with a fresh pair of eyes.

            Good luck to you amigo and may your stocks be very prosperous!

          • On July 13, 2020 at 12:05 pm,
            Wolfster says:

            I hear you….. just sucks that most days I’m too busy to look too often and today I’ve got lots of time to kill and that’s what I get to look at….silver up .70 and my excitement level mounts as we near $20……then I look at the portfolio and…… obviously I need to get more busy days. Those are the good ones. 😎

  22. On July 13, 2020 at 9:53 am,
    Excelsior says:

    Silver prices knocking on heaven’s door. Silver got up to last year’s high of $19.75 twice so far today, and barely got above it to $19.76 and $19.77, and then retreated back below it, which is normal at resistance.

    It would be technically strong for Silver to close today above last years high, indicating a new impulse leg is underway. Come on Silver…. you can do it!

  23. On July 13, 2020 at 9:53 am,
    Excelsior says:

    Silver prices knocking on heaven’s door. Silver got up to last year’s high of $19.75 twice so far today, and barely got above it to $19.76 and $19.77, and then retreated back below it, which is normal at resistance.

    It would be technically strong for Silver to close today above last years high, indicating a new impulse leg is underway. Come on Silver…. you can do it!

  24. On July 13, 2020 at 10:57 am,
    Matthew says:
  25. On July 13, 2020 at 11:06 am,
    Wolfster says:

    Another big volume block in the .265 range for triumph today. Around another 2M shares

    • On July 13, 2020 at 11:14 am,
      Excelsior says:

      +2 Million 🙂

  26. On July 13, 2020 at 11:29 am,
    Wolfster says:

    Memory is not what it used to be. Believe it was Charles who asked me to mention any warrants that were attractive if I came across any again. Recently some planet 13 warrants started trading. July 2022 convertible at $2.85. Stocks around $2.20. Warrants trade at .19. That attracted me enough to sell my planet shares buy equivalent number of warrants and use the rest to buy more IMCC.

  27. On July 15, 2020 at 12:00 am,
    Sound Money Advocate says:

    Excelsior – not lost on at least one of us is that this Matthew character has an attitude problem – you come across as a sincere contributor with much to say worthy of consideration – I would not bother to waste my time responding to him. His problem is obvious to anyone with 1/2 a brain.