A focus on the selloff in metals and metals stocks
Jordan Roy-Byrne, Founder of The Daily Gold joins me for a look into the selloff today in broad markets but more specifically in the precious metals. We discuss the stocks and where the GDX could bottom and what a recovery would look like. Also how the metals are tied to general fear that is back on investors minds.
+1
B, I sure hope your news letter is different than what Jordan has been saying for quite sometime. If my memory serves me well you would have been left in the dust with some of his previous calls months back when we had spectacular runs in the miners.. I still think some of us I’m here way outperformed these guest and don’t get 1/4 the recognition.. The day we gone, I’m sure news letters will be just fine lol..
Just saying….
(BBB0 Brixton Metals and High Power Exploration (HPX) 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
(10/27/2020)
“HPX has the right to earn a 51% interest in the Hog Heaven Project by making a total of $4.5 million in cash payments and incurring $15 million in exploration expenditures. Further, HPX may earn an additional 24% interest (for a total of a 75% interest) in the Hog Heaven Project by incurring an additional $25 million in exploration expenditures”
EX:
Back into Brixton yesterday. Yesterday I was $1200 up after 10 or 11 down days. However, today is one of the worst of all time with significant losses. In celebration I bought some Freegold as it has been really pounded. Also recently (week or two) added some Blackrock, Pure Gold, Palladium One, Nulegacy, Novo, Newrange, Silver Tiger and Santacruz. I had to reduce or eliminate others but thought I would concentrate on fewer until they prove differently. I wasn’t really expecting today, but I really wasn’t expecting the US to be a banana republic either. I am going to pretend the algos made a mistake today like they do everyday. Eveer Upward!
Yeah today was brutal overall in the miners. Those are some good additions you made. I sold a few old dogs and trimmed a few profitable positions today, to avoid a margin call, but overall just held steady. If we see more follow-through selling I may add to a few.
It was interesting to see HPX (Friedland) option a big chunk of Hog Heaven from Brixton. I haven’t been wowed bKaiser, (HPX) past deals with Cordoba, Fjordland, Kaizen, or Sama, but their Typhoon exploration technology is looking for the large elephant deposits. We’ll see how it goes…
Welcome back Ex, got the B. under control? Bubba has been right all along—
Thanks Buzz. It was a wild day in the markets so I wanted to check in, and thought the Brixton news was interesting. Cheers!
These days there are so many dubious financial practices that this system can only be held together when prices rise. When prices are at a pinnacle investors believe a correction is time to buy. Some day the correction won’t be a time to buy and that is when you will find out the stock market is broke and won’t quickly recover. It’s called a ” Bad Break’. DT
Agnico Eagle gained 4.43% in after hours trading today following better-than-expected Q3 profit and a 75% dividend increase.
Coeur Mining reported earnings that beat the street by 77.78%, the third surprise beat in the last 4 quarters. I bet it will gap up tomorrow.
My exposure to CDE and AEM is only through ETFs.
The after hours performance of the miners maybe says today was overdone. Over 95% were negative with most of them between -3 to -15% down. The general market futures are looking good and the PMs struggling. Trump was predicting a good GDP # tomorrow and was quoting estimates. That tells me it will be a strongly false # rather than the normal bogus #. I assume that means another hit on the miners tomorrow in order to pump the wonderful economy before Tuesday.
The -3 to -15% were my miners not PMs in general.
That about sums it up David. My account was down about 8% on the day.
https://img2.thejournal.ie/inline/1151176/original/?width=384&version=1151176
I wish I could erase the memory of that guy… but, I think that is how today felt. After opening my account this AM, I went to get groceries and bought stuff I shouldn’t eat.
Yes, that was good news on CDE. I have a solid position in it, but was a bit disheartened to see it down over 12% on the day with those good numbers posted in the afternoon.
Ex,
Good to see you posting around here..hope all is well with your new chapter in life.
Looking for a good smash today and tomorrow to really set alarms and get the late so called bulls and dumb money to get bucked off.. Sentiment needs wiping off the culo.. This will only help to propel us higher much more healthier..
$1781-$1788 would really fill my appetite but $1823-$1828 would satisfy me as well.
We discussed many times that the monthly candles for this correction would print 2 reds followed by a reversal of the third candle into a closing green month end. We may print 3 reds followed by green. Regardless as I’ve stated repeatedly, we are 2-7 days of the final bottom. Unlike Roy, I think the rebound from these bottoms in the miners will be explosive.
From the current setup I would tend to think December could give us usual slight sell off but the following months is going to produce much higher gains! I’m fact 2021 into August will outperform like never before.. That’s what I’m seeing.
Glen
Hey GLEN………….$1860……….your number was spot on…….congrads again…..ootb
Oh,………Glad to see you EX……. 🙂
Thanks Glen and & OOTB. We had 52 showings, 13 offers, and have house under contract. Doing a few last repairs to get ready for inspection.
As for the Precious Metals: Thanks Glen for your analysis on timing and targets. I’ve not been following things nearly as closely over the last month, and remembered something you wrote about Oct 16th area as a potential low, and tried to look that day at the set up, but it didn’t seem to indicate a trend was reversing, and dashed any rally into later October for a green candle, so yes, it’s going to be a red one like September.
In contrast, yesterday’s action was far more jarring, and so it got my attention in the afternoon. I could see some continuation selling in Gold & Silver for a few more days, leading into or after the election. Another though is that the US Dollar has been strengthening again just a bit, and if it had a short rally during any election chaos, this could be a headwind for the PMs, and provide the last dip down, before the new upleg from mid-December into the Q1 Run in 2021.
Ever Upward!
Wow… that was a terrific response on your house. That should be a relief in moving forward quickly. Congrats. Gives me hope for the future!
Thanks David. Yes, it was quite a response on the home… it was a bit of a stampede.
Good luck if you decide to put yours on the market soon. Apparently there are high numbers of buyers in the market trying to cash in on the low mortgage rates, concerned those may start heading back higher again next year.
> It was a bit of a feeding frenzy.
Hi Ex,
Glad everything is going well for you and soon the Home should sell. I know it’s not easy during these times to juggle many things at one time but you’re a very smart guy and I wish you the best. Yes the week of the 16th was supposed to be a low turnaround point that I mentioned a couple months ago. I have updated more recently a couple weeks ago my approach. I’m not sure if you were able to read some of the stuff I posted a couple weeks back and as recent as this week which was very very accurate Jerry is my witness. To sum up everything we are within 2 to 7 days from the bottom I expected to smash today and smash tomorrow and possibly Monday. This is going to be a great buying opportunity. I already made it clear yesterday that my tranche three had been used up a portion of it today I use the remainder of it. I have one last bullet and it’s a heavy one if it hits my target I’m all Lynn I’ve been very clear as best as I could. Ask all the best and hope you can come back soon. Best of luck pal
Jerry how about that 1860 incredible I believe I said six 1861 but I will take it thank you so much for your appreciation. I may go private with my numbers very soon and I will open up the forum for only private members no charge free if you care to come in and get some good technical numbers. Since I can’t get a Holla Holla in here LOL. No kidding asideThe car is where I will be sharing for the rest of my days if God willing
Thanks for the kind words Glenfidish, and for the summation of your analysis. Unfortunately, I haven’t been able to keep up with all the comments on the KER for the last month or so, and have only had a few days to pop on. As a result, I didn’t see some of your comments a few weeks back or earlier this week.
That is encouraging that you deployed your 3rd tranche yesterday and today, and that you believe in the next 2-7 days that we’ll see a bottom. If not you’ve got your 4th tranche on the ready. That’s a solid plan sir.
Yesterday, I sold a few old dogs for a tax loss and trimmed a few winners back a bit, but did add to a few stocks today that had been selling down for a while and was happy with today’s price points. At present, I’m fully deployed for Gold and Silver, but could pull out some deep savings if the markets really got into a rout post election. Also, I’d like to add more to my Copper, PGM, Uranium, and Lithium positions by year’s end.
>> Glenfidish – Good luck if you decide to take your analysis private, and do TA for a subscriber base. You’ve really grown in you knowledge of charting and have had some great targets in time and price the second half of 2020. Keep up the great work amigo!
You called it Glen. I heard and read your posts too. Way to go! Keep us posted.
From the updates I received from Jordan it looks like he has been right all along.