Doc is back with comments on the set up in gold and silver
Doc is back to shares his updated comments on the precious metals. Unfortunately he has not changed his outlook for prices to be relatively constrained but there are some aspects on the charts that we should all be watching. We also comment on the US Dollar and how that impacts the precious metals.
Hi Doc, do you own ELRRF? I bought some at .80 last spring and then sold it@1.20 and watched it go over 1.40. I bought some today@1.08 after seeing “Butch Cassidy and the Sundance Kid” last night. Butch told Sundance how rich the mines in Bolivia are, so I thought I better get back into Eloro. Did you see how the Hoosiers upset Penn State 36-35 in OT? Maybe they can give Michigan a tough game.
Bonzo, I don’t own the company and didn’t know about it until you posted.
Considering the action in the stock market, the miners performed well. SPY and DIA both fell more than GDX and did so on greater than average volume while volume for GDX was much less than average.
There could easily be more downside from here but I bought more MUX, GDX, and SILJ anyway (among others).
https://stockcharts.com/h-sc/ui?s=MUX&p=W&yr=5&mn=9&dy=0&id=p47749605191&a=825435084
Matthew, do you own any Eloro? After watching BUTCH CASSIDY last night and hear him tell Sundance Kid how rich the mines are in Bolivia, I took it as an omen to buy back some of the ELRRF I sold last summer
Bonzo, I’ve never heard of it but it sure has done well since March (as much as 800%+). Maybe it’s Canadian symbol (ELO) is fitting…
https://www.youtube.com/watch?v=A7ChoM2Rh60&ab_channel=BettyThibault
Matthew, Quinton thinks Elo’s Iska Iska could contain a billion oz silver and other metals too.
They just started drilling. So did NULGF. Surely one of them will hit an elephant (“It’s a Living Thing” for ELO)
Thanks, Bonzo. If it has a billion ounces of silver, you’ve got a ticket to the moon!
https://www.youtube.com/watch?v=ZXBiPY8wDT0&list=OLAK5uy_mZi_Tyo-qQ0cTvWbV0uxCgfLaCMJF-Kys&index=4&ab_channel=ELOVEVO
Good to know. Thanks Matthew. BTW I don’t own the stock but it’s on my watch list.
Matthew check out the Hedgeless Horseman’s site. He is very positive on the stock to and I’ve seen some maps on his site that are pretty impressive.
Thanks, Charles. A pullback to that “shelf” at about 1.10 would be nice if I decide to buy it…
https://stockcharts.com/h-sc/ui?s=ELO.V&p=D&yr=1&mn=0&dy=0&id=p13986706129
Don’t know how that GDM chart landed here.
IPT managed a gain today:
https://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=5&mn=7&dy=0&id=p37176710435&a=601253654
AXU fell but still looks ok:
https://stockcharts.com/h-sc/ui?s=AXU&p=D&yr=1&mn=0&dy=0&id=p26587086629&a=829293368
Doc, Any opinion on the oil stocks ? Are you buying ?
Pete, awhile back I bought birchcliff energy (bir.to) and it’s had a nice little run and could move higher yet. I bought HAL and SLB on the plunge back in March but have taken profits since. I’m a little cautious on the oil stock area right now and have been following them technicallly and will only take a position if I feel they’ve bottomed for the last time.
I used to have some oil stocks but found it to be more manipulated than miners. It also involves politics because of the Petro Dollar situation over many years. If you decide to go that way, may want to look into pipeline stocks as they aren’t as dependent on price as say a fracking producer. Just a few thoughts.
Thanks Doc, please give a heads up when you think they´ve bottomed.
SLV just broke a steep uptrend support but let’s see if it can take it back before the week closes:
https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=2&mn=2&dy=0&id=p98280212927&a=829169735
There’s potential support for GDXJ about 2.5% below today’s close:
https://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=5&dy=15&id=p87881938559&a=717139295
I’m surprised SILJ was unable to fill its 10/9 gap on a day like today. Such strength might not amount to anything but it is bullish action, nevertheless.
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=7&dy=0&id=p01393622317&a=785656349
Rover Metals drills 22.01 m of 7.94 g/t Au
2020-10-26 13:36 ET – News Release
Mr. Judson Culter reports
ROVER RELEASES ASSAYS OF FIRST DRILL HOLES FROM SUMMER 2020 DRILLING AT ITS CABIN LAKE GOLD PROJECT, NWT CANADA
https://youtu.be/qHO8x5ag8As?t=50
Exploring for Pd in Brazil
11th day of losses in a row reaching -2% rather than the daily -1%. Over-20% for second time since July. Bought more Santacruz, Summa Silver, Blackrock and Freegold. As long as the shorts are lowering price on those with potential, I will be buying.
Valterra Resource samples over 100 g/t Au at Lima
2020-10-26 10:30 ET – News Release
Mr. Lawrence Page reports
VALTERRA RECEIVES +100G/T (+2.9 OZ/T) GOLD ASSAYS FROM THIRD-PARTY VERIFICATION SAMPLING AT THE LIMA GOLD PROJECT IN BRAZIL
Doc, who’s going to win the election and are you placing any bets? Mish Mashlock says Trump is toast. And I don’ think the Republicans losing the Senate would surprise Shadlock.
Things are going to be brutal if Harris/Biden wins and the Demorats get the Senate and keep the House. And if Harris doesn’t win the left will burn down the country. My advice is to go long fire extinguishers.
Clinton got Blow Jobs.
I wonder what Creepy Joe would want.
https://www.lenorathompsonwriter.com/beyondnarcissism/ashley-biden-disturbing-memories-of-creepy-handsy-father-joe-biden-where-was-mother-jill-biden
Eb, the polls are narrowing—rasmussen who was pretty relevant in 2016 projected Trump being behind by 12 points 2 weeks ago and then 5 points one week ago and then 3 points about 4 days ago and now ahead by 1 point nationally. Trafalger has Trump winning. These are 2 polls that were correct in 2016 compared to the other polls which were further off. There’s the IBD poll that has Trump down nationally by 2.3 points. Going into the election the night before in 2016 Trump was down 4 points to Hillary nationally. By election night if Trump is down less then 3 points or ahead nationally he wins. I’ll make a prediction within 2 days of the election —-the republicans are doing better then expected in some states in the early voting and republicans have done a better job registering new voters this year then demorats. I also believe that Trump gets a higher percentage of our hispanic and african american brothers this time around. I believe AT THIS TIME he has Texas in the bag and a better then even chance in Fla. and North Carolina. I’m following a couple of young guys that are breaking it down state by state and are probably going to be accurate more then your generic pollsters. It’s good to see the nervousness of the Trump camp.
Doc, what do you think of predictit.com? Ever wagered there?
Doc, if you get a chance please read this. I ran some numbers regarding Predictit and the election. Since then the offers have changed a bit but I think what I said still holds regarding hedging and making money. Do you think I got it right or did I miss something?
http://www.kereport.com/2020/10/24/a-catholic-priest-opines-on-the-upcoming-election/#comment-597074
This is what I concluded last night.
It looks like on a Trump No and a Biden No if Trump wins you could make 21.62 and .72 if Biden wins assuming for every 100 you bet 55 on a Trump No and 45 on a Biden No. But that doesn’t include the fee which is 5% of winnings. Predict charges no fee for loses. At least that’s my understanding.
EBO…..I listened to Rick A….great comments
Tuesday Night: Tucker’s Show Will Be Devoted Entirely To An Interview With Tony Bobulinksi, Biden Family Insider-Turned-Whistleblower…
Thanks for the heads up CFS. This is must see TV.
Although I do not have the Official executive order reference text from the executive.order.gov site, I do have more information of a swamp-clearing executive order:
Presidential Executive Order 13957 (Donald Trump, 2020)
In view of potential violence post-election, the following is offered for educational purposes:
https://www.usconcealedcarry.com/uscca-info/guide/concealed-carry-map/?tID=5e8647ccd2fd2&utm_source=google.com&utm_medium=ppc&utm_campaign=6451251298&utm_content=concealed%20carry%20map&utm_purpose=lead%20generation&GA_network&GA_device=c&GA_campaign=6451251298&GA_adgroup=108207882364&GA_target&GA_placement&GA_creative=455780434225&GA_extension&GA_keyword&GA_loc_physical_ms=9013192&GA_landingpage=https%3A%2F%2Fwww.usconcealedcarry.com%2Fuscca-info%2Fguide%2Fconcealed-carry-map%3FtID%3D5e8647ccd2fd2%26utm_source%3Dgoogle.com%26utm_medium%3Dppc%26utm_campaign%3D6451251298%26utm_content%3Dconcealed%2Bcarry%2Bmap%26utm_purpose%3Dlead%2Bgeneration&gclid=Cj0KCQjw59n8BRD2ARIsAAmgPmKYT75qvrB5RCGyNY0RoGBB0yRv5xlB-FHjzdJyr8aCU0N9naKqAUEaAkfyEALw_wcB
CFS…….this is the MINING SECTION………. come on man…. 🙂
Nice Assay from Abraplata Resources
Newt Gingrich has tonight called for Trump victory. Mainstream media is playing the same stupid game they played last election. Humble pie tastes like Americans in need of work aren’t lobotomized
More evidence of Chinese CCP Virus Deception:
Good to hear Doc again. I missed him, though I realize not much as happened since the last time. Patience, always patience.
Agreed it was great to listen to Doc again.
Brixton Metals and High Power Exploration Sign Heads of Agreement for an Earn-In, Joint Venture of up to USD$44.5 Million to explore and develop the Hog Heaven Project
http://brixtonmetals.com/brixton-metals-and-high-power-exploration-sign-heads-of-agreement-for-an-earn-in-joint-venture-of-up-to-usd44-5-million-to-explore-and-develop-the-hog-heaven-project/
The stock is halted.
Sweet!!!
The halt is off, up 15%!…. 20% now.
Kind of a muted reaction in the market. I guess the real fireworks will start when the news flow on actual drill results starts to pick up.
I’m showing +14.5% at the moment. The sector-wide sentiment was probably not ideal and the gap that the news/halt caused probably added to the dip back down but I bet it will end the week at .41 or higher (no, you can’t take that to the bank).
Another intermediate term advance is coming soon…
https://stockcharts.com/h-sc/ui?s=BBB.V&p=W&yr=5&mn=1&dy=0&id=p56747894312&a=777826699
I guess I should have clarified that the U.S. ticker BBBXF is muted. Right now its only up 6.64% at 0.26 cents. I was hoping it would get down to the 30 wma before it took off. While I still think it’s possible its probably not likely now.
That’s quite a difference between the listings. .26 implies .342 in Canada instead of .355 so they should move closer together very soon.
Agree. Seems like a nice arbitrage opportunity.
I used to do that until 2010 when I held about one-third of all my Canadian positions through their U.S. symbols.
Brixton: Congrats Matthew. Robert Friedland is not going to participate unless he sees potential. I bought back in….again.
Thanks, David. How right you are about Friedland!
wonderful!!!
Thanks for the post MATTHEW…………..on Brixton….
+1
Notice whats been happening with bitcoin?
up 34% in the last week or so.
Blow out day…+ .24 of 1%. Breaks my run.
Nice to hear Doc again.
Thx guys.