Gold technicals during this correction and comments on Powell’s upcoming speech for long term investors
Jordan Roy-Byrne has some comments for the longer term investor on the upcoming Powell speech at Jackson Hole. We also chat about the time frame for this current correction in precious metals.
Click here to visit Jordan’s site to stay up to date on his metals charts.
Should be fixed now. Sorry it didn’t upload properly.
Seems to me we will have some price inflation guaranteed…..devaluation of the dollar or it’s purchase power.
This should mean that Gold/Silver will slowly increase in price from fundamental principles, but what else is new.
DEG.AX DGMLF Exceptional high grade gold intercept at Crow
https://www.asx.com.au/asxpdf/20200827/pdf/44lzcg62zz8h39.pdf
Jordan why did you watch your portfolio give back all profits during the March sell off, your portfolio was worth approx 200k beginning of year and you started with approx 115K so you sold and went to 100 pct cash in March and gave back 80K. You didn’t loose money but you watched all profits go out window on way down to me that’s not being a good technician or investor. Your portfolio didn’t loose but all people who bought in being of year lost thier balls. So now you bought back late March at bottom and portfolio gained back losses but don’t say your up 150 pct in portfolio from March lows you got to look at what portfolio was pre March crash. All you newsletter guys saying gold stocks up big from there lows, forget March lows were did you start from pre March crash and then say your up x AMT pct.
Nineteen Eric Sprott Holdings about to Detonate!
Patrick Karim – August 24, 2020 #TechnicalAnalysis #Charts
“Using monthly log chart with volume profiling to review my top 19 from 78 Eric Sprott holdings. ”
TSXV:ABN
TSXV:AGC
TSXV:BBB
TSXV:BMK
TSX:DYA
TSX:EXN
TSX:GCM
TSXV:GPY
TSXV:GXS
TSXV:IVS
TSXV:LAT
TSXV:NAM
TSXV:NVO
TSXV:ORX
TSXV:RIO
TSXV:RJX.A
TSXV:SIC
TSXV:SKYG
TSXV:SUP
That was an interesting parade of charts for Sprott companies that haven’t moved as much as the others but have great potential according to Patrick’s technical outlook.
On that list I hold BBB, EXN, ORX, and SIC , but I may have add a few more of them since most of them look poised to break higher.
This is another interesting video from Patrick where he distills down 30 Silver stocks to 8 stocks that haven’t broken out yet. The finalists are (MGG, AYA, DEF, AUN, BCM, CCW, AUMN, and EXN). Out of those I hold DEF, AUN, and EXN and have been considering AUMN as an add.
He really does a good job of showing where the trend-line breakouts were in conjunction with the Ichimoku Cloud resistance, and how the stocks broke out of multi-year basing patterns to explode higher. He feels many of the stocks have run too far and too fast to the upside and disqualified those, but we aren’t in a normal market and these aren’t blue chip companies, they are Silver miners that have been crushed down to ridiculous levels as the metals prices have exploded upwards. Having said that, I did see a number of hot new silver companies that came on the scene in the last year or so that are pretty extended on that list he covers.
It’s definitely worth watching to see how Patrick does his quick shotgun analysis on so many stocks in a 26 minute period.
___________________________________________
Eight Explosive Silver Stock Setups!
Patrick Karim – August 23, 2020
Global List reviewed:
TSXV:AAG
TSXV:ABRA
TSXV:ANZ
ASX:ARD
TSX:ASM
TSX:AUMN
TSXV:AUN
TSX:AYA
TSXV:AZT
TSXV:BCM
TSXV:CCW
TSXV:DEF
TSXV:DSV
TSXV:DV
TSX:ELEF
TSX:EXN
TSXV:GOG
TSXV:GRSL
TSXV:IPT
TSXV:KNT
TSXV:KTN
TSXV:MGG
TSXV:MMN
TSXV:MTB
TSXV:MXR
TSXV:OCG
TSXV:RSLV
TSXV:SAE
CSE:SAND
TSXV:SDR
CSE:SLV
TSXV:SSV
TSXV:SVE
“Sifting through Gold Ventures great list of +30 silver stocks to spot next HUGE breakouts. Watch till the end to see the surviving eight!”
It should also be noted that some of those on that Gold Ventures list were not Silver stocks, and there were a number of notable silver stocks not included on that list, but it was instructive for charting purposes nonetheless.
Another Shout Out to Excelsior for providing the Patrick Karim videos. Here is what I did:
Bought Sky Gold, Latin American Materials, bought back MacDonald Mines and added to Sokoman. So many choices. I had Excellon, Novo, Brixton, Sokoman, Aurcana, and Minaurum. That was a fun exercise watching Patrick explain his theory. I will see first hand how his discussion plays out.
Thanks David. Yes, there are a number of companies I added to my closer watch list after watching Patrick’s shotgun analysis of them and which one’s were gearing up to run.
Mr Powell says he likes inflation and that pesky Zero interest rates are constraining. He was counting gold coins. (Sarc)
The more he talks, the more gold and general markets go up. Dollar slipping. I am looking for a hook to come in from the side.
The morning smash started as soon as he stopped. Well, we got all day to see.
-$40 drop in gold in a few minutes. Sure….
US Dollar up …sure
David – just remember there are a number of head-fake moves coming out of the Fed-Babble, and algos keyed to certain words, and trigger happy hedgefund traders, and lots of noise on fed days, so let’s see how things iron out over today, and more importantly how things look tomorrow into the Friday close.
I’m sticking with what I said yesterday morning: “If we go scarily red tomorrow for Powells speech, I consider it a strong buy.”
All the ETFs are down 3%+ and SILJ was down over 4%.
Nothing Powell said was negative for the gold space so yesterday’s big move was very helpful to those painting the tape red today.
I’ve been away from my computer for a few hours, but in checking back, most of the miners have recovered some, and the ETFs are only down about 1.5% each, so it wasn’t much of a pullback at all based on the Fedbabble and definitely nothing too scary. My trading account is down 4/10th of a percent today and basically flat with half the miners mildly up and half of them mildly down. Overall it was a boring day and I’m glad I took a little time away from the screen. I don’t see much that has pulled back enough to even nibble at, but of course beauty is in the eye of the beholder. Good luck to everyone for the balance of the day, but I’m more interested to see how things go tomorrow.
Jaguar did their 10:1 reverse split today, and there were a few companies out with good drilling news, but otherwise it was a big fed yawn.
Yes, the miners turning up. With 30 mins to go, I am up 1% which is great. Maybe we will squeeze out a little more. Dollar turning negative barely. Let’s get this show on the road…upward.
Agreed. Let the games begin!
(GLD) (NCMBF) GoldON Receives Geological Compilation and Reports Grab Samples up to 44.9 g/t Au on Pipestone Bay Gold Property, Red Lake
by @accesswire on 27 Aug 2020
https://ceo.ca/@accesswire/goldon-receives-geological-compilation-and-reports
(VZLA) (VIZSF) Vizsla Makes Third Discovery, Drilling 1,019 G/T Silver Equiv. over 2.5 Metres at Papayo, 1 km North of Napoleon Discovery at Panuco, Mexico
@newswire on 27 Aug 2020
Vizsla President and CEO, Michael Konnert, commented: “I am very pleased to announce that we have made a new, high-grade discovery a kilometre north from the original discovery at Napoleon. To have hit a high-grade discovery on the first hole at Papayo is a clear demonstration of the scale and potential of both the Napoleon Vein Corridor and the Panuco district. The Papayo zone has been defined over 90 metres of strike length in the current holes and drilling will continue to step-out to define the full extent of the mineralization, which is open in all directions. Vizsla is well-funded and we are rapidly progressing our exploration drilling program across the project with 3,175m completed in July and three of the four rigs now focused on new discoveries.”
https://ceo.ca/@newswire/vizsla-makes-third-discovery-drilling-1019-gt-silver
Good reports on Goldon and Vizsla.
👍👍🎖🏅
SILJ:GLD hit its upper Bollinger Band before backing off but this pullback won’t last…
https://stockcharts.com/h-sc/ui?s=SILJ%3AGLD&p=D&yr=1&mn=0&dy=0&id=p21132280639&a=798302474
A little bit of a move in some of Australians, Brixton, Blackrock Gold, and Vizsla on my screen. Several other still positive but Bayhorse “historical” release met with a bit of boredom.
Silver Tiger up nicely again, along with Goliath and Galane. Yep, Brixton, Vizsla, Regulus, Lion One, Metalla, Aurcana, Sokoman, Alexco, Precipitate, Discovery, etc… There are about another dozen just up 1-2% on the day. Tons are flat. and the one’s that are down are only 1-5% for the most part. Again, I see it as a boring day in the markets.
Did some Patrick Karim buys reflected above. Thanks Ex.
10-4 good buddy. Yeah I thought those were really good technical breakdowns of many stocks that have already launched, and those yet to launch.
Great sound—–not so much