Jordan Roy-Byrne - Technical Commentary on the Metals – Wed 22 Jul, 2020

A look into silver and SILJ – Silver is playing some major catch up

Jordan Roy-Byrne joins me today to discuss the recent pop in silver and compare the moves to silver stocks. Silver has been popping, now over key resistance levels and breaking all downtrend lines, the last few trading days have been very important. The one argument to this move is that the silver stocks are lagging in the last couple days. The flip side of this is that the silver stocks were leading over the past couple months so this is just silver playing catch up.

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Comments:
  1. On July 22, 2020 at 2:16 pm,
    Bill says:

    Basic stuff. Stocks were looking ahead as they always do..people tell me now..their going to hit the store for some silver coins. I said that was March…daaa i was on record here in the crash want to buy the metal easy. In 2 minutes …CEF has both pms was trading at a 4% discount to market. Deliverable on request. Bye bye opp. Most here know all this.

    • On July 22, 2020 at 3:08 pm,
      Paul says:

      What about one of your long term stock in your portfolio Defiance Silver, it had a good pop here but tried to sell some shares but it gets rejected, not liquid, what good is owning it if you can’t get out.

      • On July 22, 2020 at 3:34 pm,
        Bill says:

        Its way early and in time as the mob shows up volume will increase. Illiquid stocks are eay more volitile typicaly. Put a GTC in ??? but im not trading. Bought a pile of MUX, EDR and 10 others 4 months ago….just watching a crazy mive ive never seen tbis early in the game. Millions to be made imho FG.v was .04c now .15…you buy a 100ks of this and could make a buck

        • On July 22, 2020 at 3:36 pm,
          Bill says:

          Sorry about the typos .

  2. On July 22, 2020 at 3:12 pm,
    Excelsior says:

    Silver continues to break out higher and higher. Currently at $23.52 on the futures:

    Imagine going back just 1 week and proclaiming that Silver will be over $23.50 in a weeks time.

    While many of us were quite bullish on Silver last week, especially after the strong weekly close, nobody saw this strong of move coming in just 3 days. Truly epic action.

    https://www.investing.com/commodities/silver

    • On July 22, 2020 at 3:12 pm,
      Excelsior says:

      > There is nothing like a good ole fashioned #ShortSqueeze.

      https://giphy.com/gifs/food-dairy-queen-dq-fWlesbav1qMk8

      • On July 22, 2020 at 3:15 pm,
        Excelsior says:

        Cory, if you see this, it would be nice to hear sometime soon from Rick Ackerman on what his resistance and support targets are for Silver and Gold.

        When I think of people that have discussed true short squeezes like this, Rick A come to mind.

    • On July 22, 2020 at 3:16 pm,
      Excelsior says:

      Quite the monster gap up and then wild close in Silver today at $23.14.

      http://schrts.co/ejPpntBu

      • On July 22, 2020 at 3:18 pm,
        Excelsior says:

        At one point in the not-so-distant future, that gap on the Silver chart will need to get filled .

        • On July 22, 2020 at 3:25 pm,
          Excelsior says:

          Even Gold had a nice gap higher today (that will need to get filled on a corrective move), closing up to $1865.10, which is getting up into the range of the mid to high $1800s that I’ve been wanting to see Gold get up to before correcting since early June.

          It will be interesting to see if the $1880 level that Craig Hemke and Gary Wagner postulated many weeks back comes into play soon as resistance. I’ve repeatedly stated that level of $1880 made sense as a potential shorter term peak for the yellow metal. However, based on how strong Silver has been lately, as it blew threw any resistance, maybe Gold has a bit more it can squeeze out above that level. We shall see…

          Daily Gold chart showing the gap higher today into the fantastic close:

          http://schrts.co/gCUCGvUh

          • On July 23, 2020 at 1:14 am,
            Excelsior says:

            Currently Gold futures are trading right at $1880. Let’s see if this does act as resistance or not.

            It will be interesting to see where things are in the morning closing to the open, and more importantly for charting, what the closing prices are at Thursday’s close.

            https://www.investing.com/commodities/gold

          • On July 23, 2020 at 1:17 am,
            Excelsior says:

            That prior wording came out confusing and I didn’t notice until after I submitted, so here’s what it should have said.

            “It will be interesting to see where things are in the morning and what price it is at for the open, and more importantly for charting, what the price is at Thursday’s close.”

      • On July 22, 2020 at 5:20 pm,
        Excelsior says:

        Silver Begins Big Upside Rally Attempt

        by @TheTechnicalTraders – Chris Vermeulen – July 22, 2020

        https://ceo.ca/@thetechnicaltraders/silver-begins-big-upside-rally-attempt

  3. On July 22, 2020 at 3:21 pm,
    SilverDollar says:

    The only downside with physical is the 35% taxes one pays to the Gov’t. I’ve never sold any and have been adding to my stock of physical, mostly acquired in 2003-05. Will simply pass it along to my kids.
    Another point with a correction discussion: Looking back at 2013-13 charts to project where we go from here fails to recognize the unprecedented money creation since January of this year and they’re arguing now about another 1-3 TRILLION. I am not expecting a big correction!

    • On July 22, 2020 at 3:28 pm,
      bonzo says:

      Biden wants to tax capital gains at a 60% rate. Who would sell their gold and silver if that happens? And if nobody is selling the metals will go up more.

    • On July 22, 2020 at 3:33 pm,
      Excelsior says:

      SilverDollar – great point about the unprecedented money printing from the Fed, and really most central banks all over planet. We truly are in uncharted waters on the global stage.

      I agree with you that I don’t believe the correction in Gold will be big or “scary” either, and it just needs a chance to cool back down soon, before it makes the next run higher. After the correction, I believe that there is a very good chance gold could take out it’s all time high of $1923 this year, with a first upside target of $1935. We’ll see how it goes…

      • On July 22, 2020 at 3:37 pm,
        Bill says:

        EX check out the metals in Loonies. My lord the loonies TP now. Lol

        • On July 22, 2020 at 3:46 pm,
          Excelsior says:

          Haha! Good point Bill. Spot Gold is $2510 in Loonies, and $2620 in the Australian Dollar.

          Gold remains at or near all time highs in almost every currency on the planet, and it is within $58 of the all time high in US dollars at the present.

          It just shows what a mess the global financial situation is.

      • On July 22, 2020 at 3:45 pm,
        OOTB Jerry says:

        I think gold blowing out $1923………is a no brainer…….lol…….better recording for later auditing…

        • On July 22, 2020 at 3:46 pm,
          OOTB Jerry says:

          Dang…..i am getting as bad as bill on the typos….. LOL…… 🙂
          record…not recording….

          • On July 22, 2020 at 3:49 pm,
            OOTB Jerry says:

            Bill, just kidding…….. I was the worst typer, till you arrived….. 🙂

          • On July 22, 2020 at 3:51 pm,
            OOTB Jerry says:

            Just shows, ….we have a lot going on…… to worry about a few typos…. 🙂

        • On July 22, 2020 at 3:56 pm,
          Excelsior says:

          OOTB – Agreed on $1923 getting eclipsed. It still seems very likely to happen in 2020, but if it takes until early 2021, who really cares? It will eventually take it out and then march on higher.

          The miners should be printing money at $1865 Gold regardless of if things head higher from here, and the Development projects still using $1200-$1300 Gold are nuts and a disservice to their shareholders. They should at least be using $1600-$1700 Gold or higher to evaluate their economic studies.

          Even if Gold corrects down to the low $1800’s or high $1700s these miners should do just fine, and after a mild correction to cool things off for a bit, then both the metals and miners will get bought back up and march to higher highs. Fun times!

          • On July 22, 2020 at 4:06 pm,
            Bill says:

            EX good ya no dought planet earth financial system = toast
            Pms canary in the coal mine.
            Pit h fork time for Trudeau. Lol
            See OOTB. I can dooooo it

          • On July 22, 2020 at 4:08 pm,
            OOTB Jerry says:

            I just wanted to make sure…..when we discuss $1923 again….in the next few months…, but, I think it gets taken out as soon as the next Stimulus Bill gets inked…..
            The dollar, is the only currency that is behind…I think, ..Gold higher in all currencies
            just look at the Canadian Dollar…..was on par with the US…not to long ago…..from what I remember……Just thinking……:)

          • On July 22, 2020 at 4:11 pm,
            Excelsior says:

            Agreed Bill. The financial system as we know it is toast. (The big wigs at Davos are already discussing “The Great Reset.”) Yes, the PMs are the canary in the coal mine, and low to zero interest rates are their bird seed, along with the currency debasement. As for Trudeau, I bet Mr Dress-up would love to pose with a pitchfork. 🙂

          • On July 22, 2020 at 4:11 pm,
            OOTB Jerry says:

            Bill………….you are a good sport…….thanks for contributing…..in case I do not , or have not mentioned it……

          • On July 22, 2020 at 4:19 pm,
            Excelsior says:

            OOTB – Good points. The US Dollar is at 94.92 and has been getting weaker and weaker the last few weeks. Yes, I remember when the US and Canadian dollars were at parity, but then again, I remember when Platinum used to have a healthy premium over Palladium. (lol).

            Also, just have a look at how the Gold:Silver ratio has come down recently. If we just use today’s closing prices of $1865.10 and $23.14 that brings the ratio down to 80.6.
            Remember when people said the Gold:Silver ratio at 130 or 120 was meaningless, where most of us mentioned it had to come down? I’d say 80.6 is lower than 120 and that was a pretty good indication of how much room to the upside Silver had to play catchup. That isn’t always the case with Cheerios to Axel Grease. 😉

          • On July 22, 2020 at 4:24 pm,
            Excelsior says:

            axel = axle (sorry just trying to my part with the typos as well 🙂

          • On July 22, 2020 at 4:28 pm,
            Excelsior says:

            speaking of the weakening US Dollar being a tailwind for Gold…..

            _______________________________________

            Falling U.S. Dollar To Drive Gold Price To $2,000 – Bannockburn Global Forex

            Jul 22, 2020 – Marc Chandler Chief Market Strategist

            https://www.kitco.com/news/video/show/Kitco-NEWS/2903/2020-07-22/Falling-US-dollar-to-drive-gold-price-to-$2000—Bannockburn-Global-Forex#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DKitco-NEWS

          • On July 22, 2020 at 5:24 pm,
            OOTB Jerry says:

            Ex…….I watch a couple of things…on a daily basis…..GSR,Dollar, Oil, Silver, Gold , and Platinum to Palladium ratio….

          • On July 22, 2020 at 5:26 pm,
            OOTB Jerry says:

            Ex…….GT, must be having a fit……gold bugs…..and he was out to lunch….lol

          • On July 22, 2020 at 5:28 pm,
            OOTB Jerry says:

            I swear to goodness………we need to write a book……… lol

          • On July 22, 2020 at 5:34 pm,
            Excelsior says:

            OOTB – Yes, I knew you often posted about the G.S.R, Platinum & Palladium, and the Dollar, so I wanted to pepper in a few points on each. Ha!

            Yes, there have been many PM doubters and haters on here over the years that were out to lunch, and some bordered on off planet. I’ve been wondering what Spanky thought of recent moves in Silver above $23 and Gold up around $1869 at present in the futures prices? “Some bull market action this is….” (lol)

          • On July 22, 2020 at 5:35 pm,
            OOTB Jerry says:

            Chapter 1 , The Turning…….Bird Flies the Coop……..record call at $698….
            CHapter 2, Bill leans how to type….and goes all in……
            CHapter 3, Glen, has a revelation, Gold going higher…..
            Chapter 4, John get religion….
            Chapter 5, Bonzo goes back to College, and becomes a basketball coach at IU….
            Chapter 6, Cory calls Owl for a Job, in the mining sector, after he discovers there is gold in them there Hills…
            Chapter 7, Big Owl order a boat load of mask for all the Trump supporter.
            Chapter 8, CFS, ….Goes to Tennessee, to discover Moon Shine Whiskey, after discovering Wine is for sisseys….

          • On July 22, 2020 at 5:38 pm,
            Excelsior says:

            OOTB – Hilarious! That gave me a good chuckle.

            Of course there are so many other chapters that could be included….. I don’t think I saved the KER book chapters that were laid out around the beginning of the year in that big “History of KER” post, but these chapters would make a good addition.

          • On July 22, 2020 at 5:40 pm,
            OOTB Jerry says:

            I guess, we could add a chapter for Spanky
            Chapter 9……….Spanky, does not go along with Our Gang…..the little Rascal….lol

          • On July 22, 2020 at 5:44 pm,
            Excelsior says:

            Ah, I did save that post on the History of KER book. I may adjust a few chapters now and add in a few of yours, but here was the initial thought starter.

            __________________________________________________________________________

            >> On February 8, 2020 at 5:33 am,
            Excelsior says:

            “Ebolan and OOTB chided me on Thursday to write a book on “The History of the KER.”

            “The book is sure to be an international best seller and conversation starter on coffee tables across the globe. It didn’t get posted to Thursday’s daily editorial with Mr. T until early Friday morning, so just in case anyone missed it, here are the chapters of days gone by here on the KER. A special thanks to all the interesting characters that have made this site so unique, so wild, and so beneficial all these years. Cheers!”
            ______________________________________________________________________________

            > The History of the Korelin Economics Report

            Chapter 1 – Radio legend Big Al gets smitten with Kitco
            Chapter 2 – Early Days w/ Roger Weigand & Peter Grandich
            Chapter 3 – Eddy Ebolan, Jerry…The Long…OOTB, IrishTony – Three Amigos greet the people, share the news of the day, and share a laugh
            Chapter 4 – Matthew the chart Jedi – Technical Analysis to protect the republic
            Chapter 5 – CFS2000 blazing his own trail
            Chapter 6 – DT is a technology prophet and awaits the replacement of humans with robots
            Chapter 7 – BB and b, not to be confused with Bonzo Barzini
            Chapter 8 – MarkedtoFuture, Chartster, Wolfster, SilverDollar, Dan calgary, Glenfidish, Skeeta, Tad, Andrew the Rev / Archdeacon Andrew, Confused, Dennis M. O’Neil, Vortex, FranSix, Dragonite, John W. Robertson, Gabriel, Bob UK, Jerry(Gator)M, JJ, benb, Paul L, russell s hamilton, James(the lesser), Mark Alan, proud canuck, Irwin, Keep Stacking, Jason, Silverbug Dave, jhpace1, Mike, JMiller, 4 oz, Stephan B Feibish, Wayne, victor, Steele, Brian, Wiseguy
            Chapter 9 – Doc-Charlie goes from blog insights to daily editorial guest
            Chapter 10 – Cory is boy wonder, Big Owl is the dark knight
            Chapter 11 – The Good Ole’ Days – Rick Ackerman, Chris Temple, Doc Postma, Gary Savage, Jay Taylor
            Chapter 12 – Bob Moriarty – wise, witty, well-informed
            Chapter 13 – Enter The Crazies – Who the hell is Fanky?; apoclapse w/ HeavyHitter, Crazy Marc and the Baltic Dry Index, Birdman becomes Farmer, TraderJake is a snake, conspiracies w/ JohnK, DeepPurpleHaze hates Turd Ferguson, Bo Polony is full of baloney, and the near implosion of the blog
            Chapter 14 – Goodbye Gary, Hello Avi & LPG
            Chapter 15 – Sean Brodrick, David Morgan, Rick Rule, John Kaiser, Jeff Deist, Ron Stoeferle, Jeffrey Christian, Brien Lundin, Peter Hug, John Rubino, Axel Merk, Adrian Day, George Gero, Brent Cook, Byron King, Jayant Bhandari, Peter Boockvar,
            Chapter 16 – Cory is doing great hosting the investing interviews full time – A Star Is Born
            Chapter 17 – KER politics – the debate never end – blog rants, fights, comedy, and friends
            Chapter 18 – Dana Lyons, Dan Oliver, Marc Chandler, Trader Vic, Jesse Felder, David Erfle, Joe Mazumdar, Lobo Tiggre, Michael Belkin, Turd Ferguson-Craig Hemke, Jordan Roy-Byrne, Chris Vermuelen, Erik Wetterling, Rick Bensignor, Mike Larson, Chris Kimble,
            Chapter19 – Jim McKinney, Chris Martenson, Harlan Ulman, Dr John Huber, Jeff Pontius, Jeff Deist, Ronald Kessler, Stephen Gregory, Charlotte Cuthbertson, Michael Stumo, Daniel McAdams, Valentin Schmid, Dr Freida
            Chapter 20 – Cryptos, Cannabis, and eSports – there goes the speculative money away from the Resource Sector, Sentiment Wash
            Chapter 21 – Spanky gets cranky, then takes a nap
            Chapter 22 – Make new friends, but keep the old… one is Silver, and the other’s Gold – Wolfster, Charles, Ozibatla, Marty, David, Buzz, Blue, GH, pete, Tad, Miklo, Thomas, CaliJoe, Nigel, BDC, spacenormal, Anders from Copenhagen, blazesb, Chatyak, cmc, pardu, Larry, MadeOfRubber, Mickey Mantle, janturco, johnnygeneric, Bill in Tokyo, Bill, kingstonbill, Chris from OZ, Ulf, Marlborough
            Chapter 23 – A Prosperous Age – Everyone gets rich in resource stocks from 2020-2022
            Chapter 24 – The Future – Investors, Listeners, and Readers that haven’t even found the KE Report yet carry the torch forward
            Chapter 25 – Cory’s daughter becomes the new guest host after graduating from college with a communications degree.

          • On July 22, 2020 at 5:50 pm,
            OOTB Jerry says:

            Chapter 10…Matthew….Found at the bottom of an Impact zone, …after Sprott and Turd, found running a ponzi scheme with Bernie Madoff…..
            Chapter 11….Irish, hires lead attorney to Sue Trump for wearing the wrong kilt on Guy Fawkes Day

          • On July 22, 2020 at 5:53 pm,
            Excelsior says:

            Ha! The KER book is getting so long it may need to become a series of books. 🙂

          • On July 22, 2020 at 5:55 pm,
            OOTB Jerry says:

            :)…. Hope no one takes offense to any of the above…..

          • On July 22, 2020 at 5:58 pm,
            Excelsior says:

            I’m sure somebody will their feathers ruffled, but it’s all in good fun, and more a hat tip especially if they got included in some of the chapters.

          • On July 22, 2020 at 5:59 pm,
            OOTB Jerry says:

            Chapter 11…….Ebo….Found in California Running for Govn…and Asks Nancy for a Date…
            Chapter 12…..Doc, Found Nibbling Away, on Oreo Cookies, while Watching “The 5” on Fox.

          • On July 22, 2020 at 6:04 pm,
            Excelsior says:

            OOTB you are on fire tonight. You’re cracking me up!!

          • On July 22, 2020 at 6:12 pm,
            OOTB Jerry says:

            🙂 I have some more, but, …..I might give it a rest….lol

          • On July 24, 2020 at 12:27 am,
            monty bissett says:

            X No company worse than SBB. Look at numbers they are using and look at exchange rate. Tons of holes not added to new RE that have been showing fabulous grade for 5 years since last update on RE and no intention of a new RE out any time soon. Although very concerned with de risking and adding to the length of the runway.

    • On July 22, 2020 at 3:43 pm,
      OOTB Jerry says:

      Tax on phyz……..is a JOKE…….

      • On July 22, 2020 at 6:57 pm,
        CFS says:

        These youngsters, they always start their books in the middle….

        Before KER their was virgin birth in the Americas,
        and even before that was the flood.
        The tale needs to start at the very beginning:
        https://www.youtube.com/watch?v=sZiC9GAWq_0

        • On July 22, 2020 at 7:21 pm,
          cfs says:
          • On July 23, 2020 at 12:55 am,
            Excelsior says:

            Yeah, I saw that recent discovery in Mexico showing humans were active over 30,000 years ago, long before the land bridge from Asia to Alaska in the last mini Ice Age, and putting more credence to the research that has existed for a long time showing the first populations that came to the new world were island hoppers with large boats and small ships.

            There are plenty of Pre-Clovis sites in the Americas, and also many animal populations that don’t make any sense based on the traditional timeline historians use.

            This guy on this video is postulating that people were always here in the Americas. The evidence doesn’t really support that, but I used to do lectures about lost history, forbidden archaeology, and suppressed truths, and was always fascinated that the oldest cultures & artifacts were in South America and Central America, which shot a big hole through the idea that everyone in the Americas came over the land bridge theory. There definitely were massive migrations across the land-bridge, but they arrived to find that humans had been on this continent for 10’s of thousands of years already.

        • On July 23, 2020 at 12:46 am,
          Excelsior says:

          Haha! Good one CFS. Well, we can leave he foreword to you and you can start things off with the virgin birth in the Americas and the great flood. Don’t forget to throw in the dinosaurs.

          • On July 23, 2020 at 7:32 am,
            cfs says:

            The dinosaurs, or at least most of them, had just died out before I was born.

          • On July 23, 2020 at 7:38 am,
            cfs says:

            Actually, Ex, the genetics studies do support at lot of stuff, pre 36,000 BC

            The Younger-Dryas and the floods involved wiped out a lot.

          • On July 23, 2020 at 8:14 am,
            Excelsior says:

            Haha! Good one CFS about the dinosaurs.

            As for the the pre 36,000 BC that is interesting, and I could see the flooding wiping out some records (but surely not all). I guess my point is that the archaeology for early humans goes back 100,000’s of years in Africa and parts of the Middle East, so I don’t believe there are fossil records going back that far in the Americas.

      • On July 23, 2020 at 7:42 am,
        cfs says:

        Key dates are 7/28 and 8/26.

        I expect high volativity around those.

  4. On July 22, 2020 at 3:47 pm,
    cfs says:

    https://www.youtube.com/watch?v=wUHS-8CGrcE

    Reasonable (or not according to teachers union.)

  5. On July 22, 2020 at 6:30 pm,
    Charles says:

    Ex. – I got out of 3/4 of my Avino today. On to greener pastures. Hoping for a pull back in silver to redeploy. It would be nice to see that gap you mentioned above get filled, but not sure that will happen so I won’t wait long.

    • On July 22, 2020 at 9:45 pm,
      Buzz says:

      Me too faded ASM

      • On July 23, 2020 at 12:43 am,
        Excelsior says:

        ASM had a nice pop today to fade into. I considered just selling the rest of my position today, but do want to hang onto a small position in case they can get their ship turned around. After years of disappointment, they are finally performing a little better, and again, coming out of the March lows, they’ve had more of a bid than usual.

        I’ve been noticing and commenting that the Dual-listed mining stocks with a ticker on the main US big board exchanges, have been getting that new influx of Robinhood investor money, so I’m curious if ASM is benefiting from that trend.

        For example, SMTS Sierra Metals had a huge spike a few weeks back that many documented online as the wave of new Robinhooders (with something like 300 new investors one day, and over 100 the next day) forcing the stock up 250% in just a few days, before crashing back down as they moved along to the next shiny object. I noticed a huge influx of volume and share price appreciate in the first hour of trading today, and sold some more shares into that strength, and wondered if it was a return of the Robinhooders.

        There have been similar volume swells, that others have tied back to the influx mob of new traders in FSM, AG, AXU, SVM, etc… as well in May & June, so I’m sure they’re active this week as well. This may be another factor underpinning how uncharacteristically strong ASM has been trading the last few months and today.

        For the time being most of the Robinhooders are not swarming the Canadian or Australian only listed companies, as they pretty much move in and then move right back out of US based stocks as a pack. I’m looking forward to them coming back into some stock I hold and spiking the football, so I can unload shares to the greater fools, and then buy them back for less when they exit again.

        Fun times!

    • On July 23, 2020 at 12:04 am,
      Excelsior says:

      Charles – well then we are right there together with our 25% positions remaining in Avino.

      I always liked the company, and got the impression David W. was a good guy and good CEO, but they have under-performed most of the Silver stocks for a long time.

      In 2016 they didn’t rise as much as dozens of other choices. In the season Q1 Runs in 2017, 2018, and 2019, and the mid-year 2019 rally ASM also under-performed most other Silver stocks. They have come out of the recent March sector lows stronger than other companies, but that is after years of disappointment.

      I was really optimistic that when they put in their 4th processing circuit, that their production would really ramp up and surprise the market, but that never happened. I was constructive on their acquisition of Bralorne and thought that Gold camp was a big part of their future but they they spun it out to Talisker Resources, and that company is getting the glory (they still have a stake in their shares but the market doesn’t realize this and they aren’t getting value for that, like if they had kept the project). Lastly, for years they have been stating they were going to get the old tailings into production but they’ve missed all those guidelines. When the recent union blockades started, it was just the straw that broke the camel’s back for me.

      I’m still rooting for them, and kept 1/4 of position in place to keep an eye on them, for when they finally get their ship turned around. Right now and previous to now there have been many faster horses on the track.

      • On July 23, 2020 at 4:37 am,
        Charles says:

        I am letting the 25% run a bit longer, but will likely sell the balance short term (probably through the end of the month).

        • On July 23, 2020 at 7:02 am,
          Excelsior says:

          Charles, good luck to you in your investing. There are plenty of other good options for capital to find a home, with over 1,000 mining companies. Ever Upward!

  6. On July 22, 2020 at 6:58 pm,
    John Kruschke says:

    To bad Ex you forgot my epic run in Bitcoin.
    9/11 truth is not exactly a conspiracy theory any more.
    While I’m here I’ll post this.
    On July 22, 2020 at 6:42 am,
    Excelsior says:
    Agreed OOTB. Any honest person would admit that even if they were bullish on Silver, like most of us have been, and even with the strong weekly close last week, nobody was call for this extreme of a move up yesterday or today with Silver now at $22.52 on the futures.

    It’s wild and fun and should just be celebrated that it’s moved so much higher so very quickly.

    Thanks for mentioned the funny things as they happen 🙂
    Oh wait,
    n July 4, 2020 at 1:04 pm,
    John Kruschke says:
    The interview with Mr Felder was very informative as well. His comment about Congress being forced to address issues with the FED could be a whole new can of worms.
    When Silver made it’s historic run in 2011-2012, it would have gone a hell of a lot higher if the CFTC didn’t intervene and change the rules.
    If you go back to 2008 and re examine the Financial crisis you will see the liquidity crisis was pre empted by Bear Stearns Silver Short position that should have sent Silver prices meteoric.But of course the CFTC was involved again.
    There is a lot of built up torque in the price of Silver, once Silver gets going, with out the intervention of the CFTC, I believe we could be witness’s to a once in a lifetime event.

    • On July 22, 2020 at 8:18 pm,
      John Kruschke says:

      To bad Ex you don’t have faith in Christ as well.

      • On July 22, 2020 at 9:51 pm,
        buzz says:

        Yeah, eternal separation from true riches; vanity of vanities, right in your face—

      • On July 22, 2020 at 11:27 pm,
        Excelsior says:

        JohnK – I don’t follow the connection in your string of random posts about Bitcoin (which I wasn’t against and traded Bitcoin miners), then of course over to your 9/11 truth chest-beating, followed by my comments about how strong the Silver move has been this week ?), followed by your comments on Jesse Felder about the CFTC with Bear Stearns in the 2008 Financial crisis and the issues with Fed, and then to cap it off, yet another religious attack on me with your opinions about my faith. That’s classic Johnk right there.

        >> Yeah, I figured you may be one of the birds that may get it’s feathers ruffled by the February post above on the KER history. Pretty predictable.

        As a reminder, that post was prior to your now 3rd return here (where in general you have been on better behavior) and you had been kicked off this site (for the 2nd time) because you wouldn’t stop attacking and insulting multiple people here, spreading religious hatred against Muslims and anything non-Christian in your vantage point, and and for over a year you pelted the forum daily with post after post of various conspiracies to the point where everyone was sick of it.

        >> The reference then in Chapter 13 “Enter the Crazies” was quite fitting, and let’s keep in mind for almost when we were discussing economics or resources, all we got from you was:
        – a barrage of posts about whether NASA faked the moon landings (about 50 years late)*
        – The Flat Earth Theory and that idiot that was going to strap himself to a rocket to see if he could tell if the Earth was flat or curved*
        – a rehash of 9/11 theories we had all heard many times with nothing new but plenty of non-Christian hate and rage and judgement from you*
        – then tired and worn JFK theories that were pounded on people every day*
        – and a whole host of other topics, rants, and diatribes about pedophilia, Muslims killing babies, Pizza Gate, Politicians killing babies*
        – rounded off by you claiming everyone was dinosaurs with dinosaur pictures to boot* (I’m surprised you didn’t give us the old fake dinosaurs theory and post that the world is only 6,000 years old with those)

        ** Does that sound like a well-balanced participant on an economic forum?

        No I think Chapter 13 “Enter the Crazies” was the perfect chapter for you. 😉

        • On July 23, 2020 at 12:23 am,
          Excelsior says:

          I’ll extend this olive branch JohnK – since you’ve come back for the 3rd time you have been much more civil to everyone, and when you stick posting about economic topics and resource stocks in the economic threads, then I find value in your comments.

        • On July 23, 2020 at 5:02 am,
          John Kruschke says:

          For the record Ex, it was Irish Tony who got me started on the fake moon landing and I’m glad he did.
          President Trump was suppose to release the JFK Documents and he never did.
          The Dinosaurs was the exposure of those who of course new everything about everything except how to make money in Bitcoin.
          The 9/11 event speaks for itself.
          It was you Ex who posted that you weren’t going to be involved with Politics, but quite to the contrary this site is full of your rants.
          You may call it crazy, I call it passion.
          Only one gets to judge me Ex and it is not you.
          Good Day.

          • On July 23, 2020 at 6:59 am,
            Excelsior says:

            It was all regurgitating very old news JohnK and all of that had been covered for decades, but it was all you posted on day and day out for a really long time, while arguing and hurling insults the whole time.

            Thank goodness IrishT didn’t tell you about the Watergate scandal during that period.

  7. On July 22, 2020 at 7:19 pm,
    David says:

    Ex and 00TB:
    I want whatever you two are having!

    • On July 22, 2020 at 7:42 pm,
      Glenfidish says:

      Haha nice recap!

      I personally miss chapter 11! It sucks that I’m life sometimes se can’t all get along and egos or whatever it is interferes. Those were good old days. Chapter 12 as well with bob..

      Believe it or not I learned quite a bit from the battles of bird and Matt for a few years..I think what i learned most was to balance myself that there is no one sided trade. I’m the end though Matt was right the bull would prevail..

      Sparky lol hope he comes back. Ex you have also contributed a lot and deserve praise.

      But this last chapter in the last 4 months glen deserves praise for my can I get a wolf wolf on my calls lol..

      Peace out boys!!

      • On July 22, 2020 at 11:39 pm,
        Excelsior says:

        Thanks for the kind words Glenfidish. Also remember that post was from February where you’d only come on once every blue moon with an occasional comment and weren’t nearly as active, so it would be need to be updated/adjusted now (as mentioned at the onset of that post).

        I’d point out I had just as many tussles with Birdman/FarmerT and his wacko megaphone chart rants, and ridiculous calls for $900, $800, and maybe $600 gold especially in early 2016, and was on of the few here, along with Matthew point out the bear had ended when it put in it’s major low of $1045.40 ($.40 from where I target it would from over a year out) in December of 2015 and that the move we were seeing in 2016 when the key resistance levels and key moving averages were broken for the first time in years. I then when on to scrap with Birdman about Oil and said it was heading lower and nailed the bottom in 2016 back to the day (along with Mike Wiseguy), and he turned belligerent, kept attacking folks on the blog, kept putting words in peoples mouths and misquoting what they said, started attacking Gary Savage and Avi Gilburt (and was a big contributing reason to why Gary S. left), and then attacked Big Al for doxxing him and was threatening to sue the KER. Yeah, what a guy….

        • On July 22, 2020 at 11:51 pm,
          Excelsior says:

          Glenfidish – I almost forgot to respond about Chapter 11.

          I also miss that period of time and that was one of my favorite daily regiments of KER programming and it seemed to go for about 1-2 years with that contributors crew.

          Chapter 11 – The Good Ole’ Days – Rick Ackerman, Chris Temple, Doc Postma, Gary Savage, Jay Taylor

          • On July 22, 2020 at 11:54 pm,
            Excelsior says:

            I am also sad for Doc that he never got the steak dinner he won from Gary Savage in their bet, before Birdman and Avi drove Gary away.

            I’m also still not sure why Jay Taylor and Big Al got into, but I’ve always liked Jay and feel he is one of the good guys in the resource space.

          • On July 22, 2020 at 11:56 pm,
            Excelsior says:

            I also used to get a kick out of the panel discussions Big Al would try to set up with Rick A as the Deflationist, Gary S. as the Inflationist, and Mr. T as the Stagflationist. Things always started nice, but then got testy and Big Al couldn’t reign in Gary and Rick going after each other, and it would get me chuckling. Ah…. good times!

          • On July 23, 2020 at 7:09 am,
            b says:

            Ex, I believe Al asked Gary to leave, Al felt Gary was using ker to promote himself.

          • On July 23, 2020 at 7:40 am,
            Excelsior says:

            No b – Gary left on his own because he was having tons of public fights with Avi Gilburt on the KER, on his site, and Avi was responding via this site and Seeking Alpha, combined with Gary stating on his site’s blog at the time he was tired of being heckled by trolls over at the KER (which was Birdman relentlessly ripping into him).

            He stated to Cory a few days before that he was “Going Hiking” and then decided never to come back. We were asking the beginning of the next week where Gary was, and were joking and posting memes that he was “Still Hiking.” Big Al commented that they had reached out to see about him coming back but didn’t get in touch with him. That is when Gary started airing out his thoughts over his blog, and he started even taking swipes at the KER audience, Big Al, Rick A. deflation theories, and even Doc’s technical analysis (who had won a steak dinner bet fair and square).

            It was only after Gary starting taking shots at the KER from his platform and his audience of followers was getting really negative and ugly on the KER audience that Big Al decided he didn’t want Gary coming back anyway because all he was doing was using this platform to promote his website. We pointed out that every single speaker that comes on here still promotes their platforms including most of the regular and weekend commentators and we’ve had links to all their sites for years. That was the explanation given though at the time. Gary had already separated himself though before that, and if Avi & Birdman hadn’t have been so vocal against him for a period of like 2 months straight, then things may not have worked out as they did.

            It made Big Al bitter though, and he asked me and someone else not to post his videos on this site for a while because he didn’t want to promote it. (The early days of cancel culture).

            It’s a shame because I valued Gary’s work and still check in on his videos regularly.

          • On July 23, 2020 at 8:08 am,
            Excelsior says:

            Correction, G.S. said he was going “climbing” so that should have said “Still Climbing”

        • On July 23, 2020 at 1:05 am,
          Excelsior says:

          Glenfidish – this guy feels $2500 Gold and $30 Silver is close as well.

          To be clear, I fully expect us to get to those levels eventually, but believe Silver will run into resistance at the $26- $26.50 level and it may be tough to get through that congestion zone. Jordan Roy-Byrne mentioned above in today’s editorial with Cory the resistance he sees around $24 and that this is where he sees a potential cap to this current move.

          I’d still be surprised to see $30 Silver by the end of the year, but if there is one thing about 2020 so far, it is that it has been a very surprising year. I’m surprised at the sheer strength and height of the move in Silver just this week. On Friday we finally got the weekly close above the 2019 high of $19.75 which was a big victory, and now 3 trading sessions later, the 2016 surge high of $21.23 was cut through like a knife through hot butter, and Silver futures were up above $23.50 earlier. That’s surprising, so maybe the white metal does have the juice to get up to $30 by year end. Anything is possible, but I still feel a cap at $26.50 is more probable.
          ______________________________________

          Gold at $2,500? Silver at $30? It’s Possible Sooner Than You Realize

          Sean Williams (TMFUltraLong) – Jul 22, 2020

          https://www.fool.com/investing/2020/07/22/gold-at-2500-silver-at-30-its-possible-sooner-than.aspx

          • On July 23, 2020 at 8:14 am,
            Matthew says:

            Sean Williams is a silly kid for this: “Mining stocks are about to party like it’s 2011 all over again”

            You’d think the other “fools” would have caught his error and informed him that 2011 was a miserable year for the miners.

          • On July 23, 2020 at 9:37 am,
            Excelsior says:

            Well there were a lot of miners that had all time highs in 2011, and I remember doing well in PM stocks in 2010 & 2011 (until things topped in September), paired with the Fukushima event tanking Uranium stocks that same year.

            I sold a big chunk of bullion in 2010 to rotate in mining stocks, and then sold the rest of my Silver bullion in 2011 in 2 tranches of $38 and $41 to throw a big Silver party for my friends but rolled the majority into stocks for the final push. I didn’t sell enough in 2011 though and even though it was a solid year overall I got burnt in 2012 before getting out of everything. That experience in 2012 is why I started studying technical analysis.

            I get the overall point though that we’ve been seeing much stronger markets since last year.

          • On July 23, 2020 at 11:48 am,
            Matthew says:

            Highs, yes; good year, no. Just look at a chart. The year was nothing special for the miners and was downright poor relative to silver and gold. GDM (Gold Miners Index) closed down 16% in 2011 and was up just 1.8% at the end of August as gold was topping.
            As silver climbed 56% in Q1, PAAS did nothing but fall (yes, FALL) while SIL gained a pitiful 16% at best (SILJ didn’t exist).

            This Sean Williams gets an “F” in my book. His kind of “rigorous” analysis can be found splattered all over any free comment section/message board and is obviously best avoided. There’s no telling what else he was sloppy with and I can’t guess since I didn’t read the piece.

          • On July 23, 2020 at 11:51 am,
            Matthew says:

            Btw, I too had plenty of big gains thanks to juniors like AXU and IPT but Sean’s words contained no footnote regarding tempests in teapots.

    • On July 23, 2020 at 12:10 am,
      Excelsior says:

      David – Haha! I want some of what OOTB has been having tonight as well!

      Just a little trip down memory lane, for those of us posting daily for the last decade or so. Some of the folks like Ebolan, OOTB, IrishTony, and CFS have been posting longer than that.

      It’s good, albeit often-times dysfunctional, family here at the KER and I know most of us appreciate everyone’s contributions, insights, and shared learning we’ve all gone through all these years. Cheers!

  8. On July 22, 2020 at 7:44 pm,
    OOTB Jerry says:

    Chapter 14…….John, Sues Ker Report for defamation of character ….Alleges he is the original Underwear Bomber on Flight 109…
    Chapter 15…..John, Conspires with Bush to Bomb white house toilet, to steal toilet paper after 9/11 plot foiled.
    Chapter 16……OOTB, caught fibbing about Covid 19…..
    Chapter 17…..OOTB , gets Kicked off air……..for bad Jewish Joke…
    Chapter 18…..OWl, gives OOTB free air time, with restrictions….and Short leash….
    Chapter 19……Newbees invade space, with chant of Make Ker Great Again….
    Chapter 20….Newbees found missing , after failure to Pay for Free Air Time.
    Chapter 21….Obama, signs on as Co Host, after Jimmy Says he has had Enough.
    Chapter 22….Larry, and Dr. Freda, announce , Medical Break Through, on Paper Cut Relief.
    CHapter 23….Larry and CFS….Decide to Open a Medical Clinic for Exhaustion at Covid and 19 Street, NY,NY.

    • On July 22, 2020 at 8:10 pm,
      John Kruschke says:

      Jerry:
      Don’t forget the three amigos that are going to fight the Covid with a hair dryer.
      Tell your buddy Chartster Pres Trump is finally wearing a mask.

      • On July 22, 2020 at 8:18 pm,
        OOTB Jerry says:

        Trumpster , finally fell off the wagon , and damaged his brain……..
        Deep state too much for the Trumpster…..
        Him saying , he did not know much about Maxwell……Must have meant , since he does not drink coffee…Maxwell House, …must not be a recognizable brand at Mar Largo ….

        • On July 22, 2020 at 8:21 pm,
          John Kruschke says:

          Chartster always shows up for the non Author with an atta boy.

    • On July 22, 2020 at 8:27 pm,
      OOTB Jerry says:

      Chapter 24……Chartster, caught with Run away Hairdryer…
      Chapter 25…..Chartster Misses Gold Rally, While visiting Relatives in Death Valley…
      Chapter 26…..Three Amigos Gone Missing in Rabbit Hole while looking for Fake Fed Money.
      Chapter 27…..Three Amigos Return, To See Silver Bull Run…and Final Story.

      • On July 22, 2020 at 8:30 pm,
        OOTB Jerry says:

        Chapter 28…….Bonzo Reads Bedtime story to all the KER Nightowls…..Bye, Bye….

        • On July 22, 2020 at 11:46 pm,
          Excelsior says:

          OOTB – Great additional Chapters, and quite funny sir.

          Yep we are going to need a whole series of books, as all these chapters won’t fit into just 1 book. If you recall back in February we had already selected names of the additional books:

          ___________________________________________________

          > On February 7, 2020 at 8:35 am,
          OOTB Jerry says:

          “Ditto……….IF, OWL does not comment on the above book , we will just change the name…….LOL”
          _________________________________________________

          On February 7, 2020 at 9:55 am,
          Excelsior says:

          How about “Big Owl – Adventures in Wonderland” …. or “KERland”

          (I believe you responded after that with “Big Owl – Adventures in CoinLand”)

          or how about:

          “KER – Two Guys, a Radio Blog, and a Dream”
          __________________________________________________

          > On February 7, 2020 at 1:19 pm,
          OOTB Jerry says:

          “I think some of the additional titles suggestion, might make a good second book…..We know the first book is sure to sell out, in advance of printing…… especially, if there are any graphs and charts….. “

          • On July 23, 2020 at 5:52 am,
            OOTB Jerry says:

            🙂 New Day, a New Dawn……. If, any one felt that their name should be added, …
            A new series will be coming soon….. 🙂 not forget to hit the pay pal button below,
            or just send bitcoin., to John K.

          • On July 23, 2020 at 6:54 am,
            Excelsior says:

            Haha! The new series coming soon… 🙂

  9. On July 22, 2020 at 7:59 pm,
    Ebolan says:
      • On July 23, 2020 at 1:59 am,
        Excelsior says:

        DT – You’d enjoy that article that Ebolan just posted about automation crowding out humans in the search for employment.

        • On July 23, 2020 at 7:29 am,
          Ebolan says:

          Freed Reed is a riot.

        • On July 23, 2020 at 8:11 am,
          Ebolan says:

          How about that post doctorate in Victims’ Studies?

          Commiefornia is putting together legislation requiring classes in “Social Justice” in order to graduate from their universities. They have had ethnic studies requirements for decades.

  10. On July 22, 2020 at 8:18 pm,
    Ebolan says:

    Warren Buffey and Becky Quack…what a waste of oxygen…but somewhat humorous…the old fart…

    https://www.youtube.com/watch?v=JvEas_zZ4fM

    • On July 22, 2020 at 10:02 pm,
      BUZZ says:

      Um, could we please hit the pause. I’m tired of the PM’S going up & up. JPM should be delivering a sizable chunk of silver soon. Hi-Ho away! P.S. Joe Biden for (basement) RESIDENT! Go basement JOE! Let’s see you outsmart/fox Jamie Dimon

  11. On July 23, 2020 at 6:29 am,
    Ebolan says:
    • On July 23, 2020 at 7:09 am,
      OOTB Jerry says:

      What is new………..Bob did not talk about anything new…..

      • On July 23, 2020 at 7:14 am,
        OOTB Jerry says:

        Third tape………14 min mark……Virus …..

        • On July 23, 2020 at 7:17 am,
          OOTB Jerry says:

          Bob is spot on ….concerning miners…. 16 min …..Mind Change coming…..

          • On July 23, 2020 at 7:27 am,
            Ebolan says:

            Jerry…the Juice is Loose…

            …3rd tape…at the 4:10+- mark…is that a chicken?

          • On July 23, 2020 at 7:30 am,
            Ebolan says:

            People in their 60s and 70s paying off student debt…

          • On July 23, 2020 at 7:32 am,
            OOTB Jerry says:

            Bob ….did say he was on a FARM…in France……

          • On July 23, 2020 at 7:34 am,
            OOTB Jerry says:

            Yes…..people in their 60’s are paying off their school debt……I had a friend, who just got done paying off a debt on school loan, created in 1970’s…what an idiot…

          • On July 23, 2020 at 7:46 am,
            Ebolan says:

            “Higher” education is a scam…and the sheeple have been lapping it up for at least a couple generations…when will they ever learn?

  12. On July 23, 2020 at 6:57 am,
    Glenfidish says:

    Hey guys gold hit 1888 I believe. So I put a check on 1880 as confirmed. The top is not in within the cycle. Expect a 3 to 4 day corrections/consolidation. We then proceed to go higher in gold. I have not sold anything short or long I remain in the game. This is my daily update. I think gold may come down to retest 1840-1836 before filling and moving higher.

    Look forward to hearing mats update on gold price action and where we are at this current moment with his technicals. Basically what he sees. Ex has mentioned what he believes and so have I. Also I read your post X thank you as well.

    • On July 23, 2020 at 7:00 am,
      Ebolan says:

      The top is not in within the cycle…

      This will be the greatest PM bull market in history. With goooberments going insane it could be no other way.

      • On July 23, 2020 at 7:09 am,
        Glenfidish says:

        Ditto Ebo!!🍾🥳

        • On July 23, 2020 at 7:16 am,
          b says:

          Did someone mention 1880 might be resistance?
          Looks like they were right.

          • On July 23, 2020 at 7:18 am,
            b says:

            oops, just read your post glenfish, i cant say i like the idea of dropping to 1840.

          • On July 23, 2020 at 7:22 am,
            OOTB Jerry says:

            Relax……..just buy some more b…….now is the time to get ahead of the crowd….

          • On July 23, 2020 at 7:27 am,
            Excelsior says:

            b we’ve been discussing the $1880 level for a number of weeks now, and I mentioned it made sense to me in June when Gary Wagner pointed it out as a Fib extension on one of his charts, the same day a technician on Twitter mentioned it, and even Craig Hemke pointed out how $1380, $1480, $1580, $1680, $1780, all had a fair bit of congestion and trading on either side of them for long periods of time, so he also saw $1880 as potential resistance. I stated multiple times that this area would be one I was watching as far as resistance, and Glen agreed that $1881-$1884 may be a spot with a little friction between bears and bulls and mentioned a few times it may be a good spot to lighten up on my mining shares.

            If this level falls and runs higher, it won’t hurt my feelings, as I’m still really stocked up on Gold miners, but I’ve been trimming the last few weeks in a number of stocks as we approach this area.

            To be crystal clear, I’m just expecting a mild corrective move from wherever Gold tops, before building a base and then heading higher (as I’ve stated many times), so I don’t want people coming out and claiming I was discussion a longer-term top, as that has never been my point. It will be more of a corrective move where the miners and metals consolidate before heading to all time highs. After that, move higher, then I could see a more significant top being put in at higher levels.

          • On July 23, 2020 at 7:42 am,
            Excelsior says:

            So far Gold has been able to break above to about $1890, so it has remained very strong. It’s only $33 from the all time high right now.

          • On July 23, 2020 at 7:42 am,
            b says:

            Well, I knew I didnt like the idea of dropping to 1840, we just popped to 1889 on my chart.
            At this rate the people predicting we could be going to heights unimaginable could be true.
            486 silver? Thats about as believable as oswald being the only shooter.

          • On July 23, 2020 at 7:45 am,
            Excelsior says:

            I believe bonzo barizini was kidding about the pig roast at Al’s house at $486 Silver.

          • On July 23, 2020 at 7:51 am,
            Excelsior says:

            I wouldn’t be worried at all with a pullback to $1840 as that is small potatoes in the overall scheme of things.

            I’ve mentioned a number of times that I’ll be looking for 23.6% or 38.2% Fib retracement of the move from $1671 to wherever Gold ends up topping out.

            Let’s say for example purposes that $1880 was where a short term peak is put in.

            > The 23.6% retracement of $1671 to $1880 would be at $1830.68
            > The 38.2% retracement of $1671 to $1880 would be at $1800.16

            Neither of those is that much and there would be nothing scare about those, or even a move down to that prior $1780 area. That would be the time to buy for the next leg higher.

          • On July 23, 2020 at 8:06 am,
            Excelsior says:

            It will ultimately come down to where the closing price is put in on the chart, although the daily high will still be noteworthy.

            The other scenario is that Gold just keeps running to challenge the all time high of $1923 on this move, as Matthew previously mentioned he felt was possible. We are definitely close enough where a really strong continuation of this move may still get us there in fairly short order.

            I’m still in the camp that we need to pause first before attempting to clear that level, but there may be so much strength in the PMs now that it could break on through to the other side. Look at how strong Silver has been the last 2 weeks, just blasting through all resistance levels. We’ll see how it goes.

          • On July 23, 2020 at 8:13 am,
            OOTB Jerry says:

            This is a no brainer……….$1923……..no problem……
            Less overhead resistance……the cup is about to be filled…..No going back down…
            Who in their right mind is going to sell…..only manipulation and that is in Silver….
            China , Russia, and India going to sell….gold…..lol…….

          • On July 23, 2020 at 8:14 am,
            OOTB Jerry says:

            Look at the DOLLAR…..94……..

          • On July 23, 2020 at 8:21 am,
            b says:

            What you mean no pig roast?
            Now thats sad.

            If there is a pullback to 1840/30 or 1800, I wont like it one bit.
            Really doesnt matter to me tho, Im simply sitting tight being right, unless Im wrong.

          • On July 23, 2020 at 8:26 am,
            Matthew says:

            For b: 1886.40 is the all-time high weekly close but I don’t consider it much resistance. Many have said that a new all-time absolute high will NOT happen this year but I’ve been saying that it will. Weeks ago, I also said that it would probably happen by mid August but now it seems like it will happen much sooner.

          • On July 23, 2020 at 8:29 am,
            Matthew says:

            We already have an all-time high quarterly close for gold and this month will give us an all-time high monthly close.

          • On July 23, 2020 at 8:35 am,
            Matthew says:

            A more important level is 1891 and gold is already through it…
            https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=0&dy=0&id=p72189310869

          • On July 23, 2020 at 8:50 am,
            Excelsior says:

            The action is strong in Gold today for sure.

            I’ve been on board with taking out the all time high this year, but felt gold would pause and correct first. As mentioned above, with the strength the last few weeks in the PMs it very well could make a new all time on the daily charts in the very near future at this rate.

          • On July 23, 2020 at 8:54 am,
            b says:

            It sure does look like we could get thru the high, and soon.

            THx Mat.

          • On July 23, 2020 at 11:56 am,
            Ebolan says:

            “Did someone mention 1880 might be resistance?”

            Watch out for 1871…resistance 🙂

          • On July 23, 2020 at 1:24 pm,
            OOTB Jerry says:

            Why……that would be an ….Act of…..1871…… 🙂 Replay….

        • On July 23, 2020 at 7:20 am,
          OOTB Jerry says:

          Ditto Ebo…………

    • On July 23, 2020 at 7:20 am,
      Excelsior says:

      Thanks Glenfidish. What really matters is the closing price today, as that is what populates the charts.

      Gold had a nice run overnight but has pulled back from levels over $1880 a few times in overnight trading, currently trading at $1879, so yes, it’s here at the level a number of technicians felt may act as resistance.

      We’ll see how it goes, and if Gold can blast up through this level, or if things take a pause that refreshes around this area. As mentioned, I’m not expecting a large pullback from here (or wherever gold ends up topping out) but just a corrective move to cool off the chart indicators and sentiment, before running higher later in the year and making a run at the all time high of $1923 with the first target at $1935.

      I’m trimming back a few more positions in both gold and silver miners this morning and building up a bit more dry powder. If these stocks do pullback 15-20% I’ll be nibbling at them again.

      Good luck to everyone in their investments!

  13. On July 23, 2020 at 7:54 am,
    Excelsior says:

    (AR) (ARNGF) Argonaut Gold Announces Closing of C$126.5 Million Bought Deal Financing

    by @newswire on 23 Jul 2020

    “The net proceeds of the Offering will be used to for the advancement of the Company’s Magino Project and for general corporate purposes.”

    https://ceo.ca/@newswire/argonaut-gold-announces-closing-of-c1265-million

  14. On July 23, 2020 at 8:17 am,
    David says:

    I am mostly watching today but did add to my Northern Shield position. Aston Bay had a negative response yesterday, but Northern Shield was met with optimism….so I did a little reshuffle. I added a small amount to Blackrock Gold again but waiting for the short people to bite its ankles. We will see if this is a friendly pull back or a banker blitz.

  15. On July 23, 2020 at 8:20 am,
    OOTB Jerry says:

    Bingo………… $1891……….

    • On July 23, 2020 at 8:39 am,
      OOTB Jerry says:

      $1895…….better hurry…. 🙂

      • On July 23, 2020 at 8:40 am,
        OOTB Jerry says:

        1897

      • On July 23, 2020 at 11:18 am,
        OOTB Jerry says:

        After Noon…..1880………

        • On July 23, 2020 at 12:01 pm,
          OOTB Jerry says:

          1889……right back up again….

  16. On July 23, 2020 at 8:22 am,
    bonzo says:

    I never predicted silver@ $486. I said that Ron Rosen predicted silver @ 460 if it closed above 21.44. But it would not surprise me if gold went to 10K and silver to $486 or 500.
    And then we should have a slumber party at Al’s hacienda and stay up and roast a pig all night in a pit. And Oswald was not a lone gunman. He was the patsy. And Epstein did not kill himself. Who here thinks Ghislaine Maxwell will outlive Ruth Ginsberg?

    • On July 23, 2020 at 8:26 am,
      OOTB Jerry says:

      Good ones bonzo………

      • On July 23, 2020 at 8:27 am,
        OOTB Jerry says:

        We are going to include more Chapters in our on gone BOOK of the KER…..about bonzo.. 🙂

        • On July 23, 2020 at 8:30 am,
          OOTB Jerry says:

          Chapter 28……..Bonzo, Runs into Oswald at the Depository , While doing research on How to become a Basketball coach at IU……

          • On July 23, 2020 at 8:49 am,
            bonzo says:

            Bonzo knows nothing about basketball. I went to all the football games for 3 seasons when I was in grad school at IU when John Pont and Lee Corso were coaching, but I never attended any basketball games, even when they were 33-0 under Bobby.

          • On July 23, 2020 at 8:59 am,
            OOTB Jerry says:

            Ok…….Chapter 29…….Bonzo, Decides to Switch to Football, after Being shot in Foot by Oswald’s MisFire, ..Thought it was a sign from the Heavens…..

        • On July 23, 2020 at 8:47 am,
          cfs says:

          Remember Zimbabwe….

          At silver = $500, a dozen eggs will cost $1,000

          • On July 23, 2020 at 9:04 am,
            OOTB Jerry says:

            You better find a differ chicken farmer……you are getting ripped off…..

          • On July 23, 2020 at 9:12 am,
            Ebolan says:

            …a dozen eggs will cost $1,000…

            Did you listen to the Bobby M interview? Tape 3? As far as chickens and eggs are concerned Bob is right on that ! At $1,000 per dozen eggs he will be a trillionaire!

          • On July 23, 2020 at 9:15 am,
            OOTB Jerry says:

            cfs…..never listens to Bobby…..I bet……

    • On July 23, 2020 at 8:38 am,
      David says:

      Maxwell wouldn’t be a good Supreme anyway as her skills are in other areas.

      • On July 23, 2020 at 8:45 am,
        bonzo says:

        I would not be surprised if Ghislaine has some devastating pictures of Justice Roberts.
        If she doesn’t then the NSA probably does.

  17. On July 23, 2020 at 8:30 am,
    Glenfidish says:

    Jerry the cup is almost filled correct! But we all know the cup needs a handle on that right side lol.. we are in what i Spoke about two weeks ago or one week ago building the pole flag. It’s gone a bit crazy.. This is the pole currently extending. It’s the handle and we’re it comes from a what price point and how deep we are all looking at.

    My hidden pivot has not been hit but it’s getting fairly close. I’ve said to you guys I will let you know as soon as the rest flag comes out on my side.

    There is also a possibility as some mentioned before to overshoot 1923 before correction.

    My target is still in play I’m just monitoring my miners and looking for them to hit that resistance and see price of gold in combination

    • On July 23, 2020 at 8:31 am,
      Matthew says:

      Glen, I guess you are no longer sticking with your call for no new high this year?

      • On July 23, 2020 at 8:44 am,
        Glenfidish says:

        Matt, my target number is still in play. I have not changed course yet. I do not have a losing trade and I’m still in the game short term and long term. Let me see how things develop in the next day or two or possibly into next week. I think we all deserve the right to change our approach as long as we do not have a losing trade. I’ve been very clear I have not sold short or long so I’m still in the game with the right to adjust my approach as I see the minors and gold reacting. I’ve made it clear that the monthly candle will be long and positive for gold. I will say at this point gold seems to be very aggressive so your thoughts a few days ago in regards to Seeing something more favourable for gold in going higher, may well become reality Matt. What are your thoughts currently mad and what are you seeing.

        • On July 23, 2020 at 8:50 am,
          Matthew says:

          Yes, changing our view along the way is good and a sign that our brains are functioning. I just recall you being very sure gold would not make a new high but now it seems you are much more bullish (understandably).

          It was uncomfortable buying the dip in KTN today since I’m sitting on a triple but I’m glad I did as those new shares are already up nicely. The same goes for Brixton.

          • On July 23, 2020 at 9:04 am,
            Glenfidish says:

            Matt,

            I’m open minded and I’ve learned as we have spoken privately to “ wait” and see when the time comes what cards we are dealt. So if it’s going higher amazing i have not sold. Plus Matt like you said that monthly is going to print higher at least we think. Let us know what your views are in regards to August. Does it print higher half way than come down? Tuff to say now as you would say when the time comes glen lol..

            Ps my hidden target was slightly above your resístame P3 level in your chart above. $1898-$1905 is the last stance which if broken than yes I will admit we are going higher. I think brain knows it already but is not processing until my number is defeated.

        • On July 23, 2020 at 8:55 am,
          Matthew says:

          What I see is a market that has confirmed my expectations of the last few months which is why I remain (uncomfortably!) in buy-the-dip mode. No serious high is imminent.

          • On July 23, 2020 at 9:12 am,
            Glenfidish says:

            Well what can I say Sensai lol this is music to my ears and our viewers. If for whatever reason that changes please let us know in real terms live action. Something like get the fuck out lol..

            Cheers buddy

    • On July 23, 2020 at 8:36 am,
      OOTB Jerry says:

      The handle starts……at 1/8 over the high…….according to IBJ…. 🙂

      • On July 23, 2020 at 8:48 am,
        Glenfidish says:

        Anything is possible jerry…by the way who LBJ? Lebron James 😝

        • On July 23, 2020 at 8:54 am,
          OOTB Jerry says:

          Investors Business Journal……

          • On July 23, 2020 at 11:14 am,
            OOTB Jerry says:

            Sorry….Correction…. ….I was thinking of another journal…
            should be………IBD…….Investors Business Daily……Brain Freeze… 🙂

        • On July 23, 2020 at 9:38 am,
          OOTB Jerry says:

          Ditto Glen………anything is possible…….

          • On July 23, 2020 at 9:38 am,
            OOTB Jerry says:

            Central Planners…….can and will do anything…..

  18. On July 23, 2020 at 8:31 am,
    Glenfidish says:

    Hopes this helps!

  19. On July 23, 2020 at 9:02 am,
    OOTB Jerry says:

    London and Crimex……gold trick might be coming to an end……. 🙂
    Jamie still going to run the silver shack , as long as there is a fed….and a corrupt CFTC…

  20. On July 23, 2020 at 9:54 am,
    Excelsior says:

    Most of the gold mining stocks are not having much of a positive response today (many have gone negative) despite the rising gold prices. It is similar to the action in silver miners yesterday.

    Either the miners aren’t believing this move will stick, or they need more time to digest the higher prices.

    • On July 23, 2020 at 10:03 am,
      Excelsior says:

      GDX, GDXJ, SIL, SILJ are all mildly down today.

      That isn’t a strong confirmation of these higher Gold and silver prices.

      • On July 23, 2020 at 10:13 am,
        bonzo says:

        NEM is up today and so are CEF and PSLV. NULGF is up 2 cents to 13 cents. I bought last week@ 8.6 cents and 9 cents and 9.7 cents, and this Monday@10.7 cents. Moriarity says that a lot of 10 cent juniors will go to $10 in a wild bull market for gold. So let it be written; so let it be done…

        • On July 23, 2020 at 6:56 pm,
          Excelsior says:

          so let it be done…

    • On July 23, 2020 at 10:16 am,
      David says:

      Picked up some minaurum today. ..3rd time. They have been too quiet.

    • On July 23, 2020 at 10:17 am,
      Matthew says:

      This is the third straight day of miner underperformance and we will likely see much more of it next week if tomorrow is another big “up” day. There’s no shortage of very fearful top-callers as well as profit-takers.

      • On July 23, 2020 at 10:46 am,
        David says:

        Agree Matthew. Sometimes I feel the algos understand “self fulfilling prophesy” more than the price of physical.

        • On July 23, 2020 at 11:59 am,
          Matthew says:

          Especially in slightly larger AMEX listed stocks (larger than most Venture listings, that is), I routinely see my actions affect the “black boxes” so I often use hidden orders. It happened just yesterday as I trimmed MTA so I dumped the rest using a hidden limit order. It worked very well!

      • On July 23, 2020 at 10:59 am,
        Glenfidish says:

        Ditto Matt!

  21. On July 23, 2020 at 10:16 am,
    OOTB Jerry says:

    You know there is a problem………when the mint……can not deliver coins to the public…..

  22. On July 23, 2020 at 12:01 pm,
    Bill says:

    Tops in for now….be careful I think.

    • On July 23, 2020 at 12:03 pm,
      OOTB Jerry says:

      It is always………be careful……….. 🙂

      • On July 23, 2020 at 12:06 pm,
        OOTB Jerry says:

        Try and buy some phyz……tells you all you need to know……

        • On July 23, 2020 at 12:07 pm,
          OOTB Jerry says:

          Well, almost “all”……. 🙂

  23. On July 23, 2020 at 12:09 pm,
    David says:

    Something must have triggered the algos as I am getting pummelled right now. Hope they were told this is not 2016.

    • On July 23, 2020 at 12:14 pm,
      David says:

      I hope the paper bankers get everything out of their system soon. I am down more than any single day this year and it would be because of …

    • On July 23, 2020 at 12:20 pm,
      David says:

      Here are my hardest hit: Discovery, Ely, EMX, Freegold, Great Bear, Irving, Lion One and Vizsla. Am I to assume those are weak stocks or are they targeted due to performance. Free and fair markets…for insiders.

      • On July 23, 2020 at 12:48 pm,
        Excelsior says:

        David those are all high quality stocks, and this is likely just some well-earned profit taking by many investors today, but it is suspect how weak so many miners are as Gold and Silver prices have been hitting new highs this week. I don’t see a frenzy of excitement anywhere and haven’t the last few days.

        I trimmed back a few more of my winners, but was actually nibbling at a few different stocks today (even some Azimut), just in case there is more money that comes into the sector as the miners digest the current metals prices. Even though it looks really toppy, sometimes the market will just suddenly lunge forward again, as the bull shakes more riders off his back. For that reason, I refortified a few positions I had trimmed earlier in the week as they pulled back down some.

        • On July 23, 2020 at 12:59 pm,
          Excelsior says:

          I’ve actually done 11 trades today, 5 sells & 6 buys. I dunno…

          • On July 23, 2020 at 1:04 pm,
            Excelsior says:

            Still waiting for the official number from stockcharts, but it looks like Gold closed around $1884 on the day, up over $19 to the highest close in many years, and yet, there was a raft of selling in many gold stocks.

            GDX, GDXJ, SIL, SILJ all down about 2-3% today, and some Junior stocks selling off far more than that. It was an odd day out there.

        • On July 23, 2020 at 1:05 pm,
          David says:

          I know, I know…still hate it. I did about 10% of sales and placed in my royalty shares earlier. I was hoping to gain some shares in some of those mentioned but the end result was a 4-6% drop in most of them and a few in the 10-13% drop in those I don’t need more of. That tells me to go shopping when this appears over.

        • On July 23, 2020 at 1:22 pm,
          David says:

          Looks like I did 3 buys and 3 sales.

    • On July 23, 2020 at 12:29 pm,
      David says:

      Most silver now double digit losses.

      • On July 23, 2020 at 12:32 pm,
        Bill says:

        Personally David I could care less day to day. Lets take a look in a year or 2…There going to be massive volatility. Hopefully we bought early and get out near the top. LOL

        • On July 23, 2020 at 3:16 pm,
          David says:

          Thanks Bill. Irrational markets driven by some hedge fund or banker’s computer drives me crazy. It is very difficult to o accept Big Brother as “the market”.

      • On July 23, 2020 at 12:41 pm,
        Bill says:

        To much short term speculation needs to hurt the late comers. Weak hands go bye bye

        • On July 23, 2020 at 1:28 pm,
          OOTB Jerry says:

          Ditto….Bill…….take a LONG TERM OUTLOOK……PMs. are not for the weak……that is for sure……J THE LONG……

          • On July 23, 2020 at 1:30 pm,
            OOTB Jerry says:

            Gold …..1971…..$35 an oz
            Gold……2020……$1880 and oz…..
            This is not rocket science…… 🙂

        • On July 23, 2020 at 2:27 pm,
          David says:

          19 years in miners. Too many stories. No confidence in politicians, law or regulators. I’d say I have demonstrated patience…

  24. On July 23, 2020 at 12:38 pm,
    David says:

    I assume the Pandemic is over and the National Debt disappeared also. Or possibly every hedge fund algo got triggered by the announcement of World Peace. I got to get me one of those investing machines.

    • On July 23, 2020 at 12:45 pm,
      Bill says:

      The worlds in a heap of doo doo…nothings changed. sad times

      • On July 23, 2020 at 1:33 pm,
        OOTB Jerry says:

        Nothing has changed ……..Nothing New under the Sun……since the beginning of time….
        Roman replay…..nothing more…..The only thing that has changed is the Toga….lol

      • On July 23, 2020 at 3:17 pm,
        David says:

        Heep of doodoo is technically sound.

    • On July 23, 2020 at 12:46 pm,
      Bill says:

      You cant expect 50-200% returns without harsh corrections. That’s a different game.