Ed Moya - Senior Market Analyst at OANDA – Mon 9 Nov, 2020

Election news and COVID vaccine news driving optimistic thoughts from traders – We dive into US markets and gold

Ed Moya, Senior Market Analyst joins me today to share his thoughts on the news developments from the weekend that are driving money back into risk on assets. The Dow is leading the US broad averages with the NASDAQ seriously lagging, while the safe haven assets, gold and treasuries, are getting hammered. The key from the conversation is to not jump all in on the moves today, it is still a long road back to normal.

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Comments:
  1. On November 9, 2020 at 10:26 am,
    CFS says:

    https://www.nytimes.com/2020/11/09/health/covid-vaccine-pfizer.html

    iF i RECALL CORRECTLY, this was the end of phase 2 trials. There is still phase 3 to go.
    But there are also many other manufacturersin trial too.

  2. On November 9, 2020 at 10:50 am,
    cfs says:

    I should also point out that the Pfizer vaccine is not ideal, even if 90% effective.
    It has the inconvenience of having to be stored at -70C until just before use.

  3. On November 9, 2020 at 10:55 am,
    cfs says:
  4. On November 9, 2020 at 10:57 am,
    cfs says:

    Gwen Preston at MIF Nov 5.

    https://www.youtube.com/watch?v=XpLvDCQ1RW4

  5. On November 9, 2020 at 11:03 am,
    CFS says:
  6. On November 9, 2020 at 11:05 am,
    CFS says:
  7. On November 9, 2020 at 11:07 am,
    CFS says:

    0:02 / 12:46

    Lorne Warner & Richard Graham of Tarachi Gold Corp. presents at the Virtual MIF on November 5, 2020

    https://www.youtube.com/watch?v=9WP1nKKSQEM

  8. On November 9, 2020 at 11:31 am,
    CFS says:
  9. On November 9, 2020 at 11:39 am,
    b says:
  10. On November 9, 2020 at 12:29 pm,
    bonzo says:

    Can you believe that 6 of my mining shares are up today? How can KUYAF, DRD, CNRIF, IRVRF, OCANF, and NSRPF be up? And my SU is up 27% and my WRI is up 25%
    Still it is a bad day for Bonzo.

    • On November 9, 2020 at 1:08 pm,
      cfs says:

      I used to hold cruise line shares because of the spending money they give you on cruising.

      All the major cruiselines, CCL, RCL, NCLH are up today 25% -35%
      It makes no sense to me since these companies will be hemorrhaging cash for months yet.

  11. On November 9, 2020 at 12:49 pm,
    cfs says:
  12. On November 9, 2020 at 1:12 pm,
    Ozibatla says:

    Wow now that is an impressove slide down from gold. Nearly $100 at one stage. Chart damage has been inflicted. Hopefully the near term low around $1860 holds otherwise $1800 becons.

  13. On November 9, 2020 at 2:32 pm,
    OOTB Jerry says:

    Funny……….I was reading an old news paper today, that I had saved….dated
    Jan 13,1975…….gold $180 per oz…….
    So, gold has a long way to drop before I am sad…….. 🙂

  14. On November 9, 2020 at 3:00 pm,
    Matthew says:
    • On November 9, 2020 at 3:25 pm,
      Wolfster says:

      Liked that most of my precious metals, while down on the day, closed at or near their highs of the day

      • On November 9, 2020 at 4:21 pm,
        Matthew says:

        SILJ dropped a whopping 1% vs SLV. That lack of (downside) leverage is always a good sign but probably more of a good sign in light of SLV’s 5%+ plunge.
        https://stockcharts.com/h-sc/ui?s=SILJ%3ASLV&p=D&yr=0&mn=11&dy=0&id=p16476495835&a=790181005

        • On November 9, 2020 at 4:47 pm,
          CaliJoe says:

          But action silver miners PAAS, MAG, CDE was much more severe. I hope they are not starting journey to downside, I bought PAAS at close. Hoping its a good decision.

          • On November 9, 2020 at 5:24 pm,
            Matthew says:

            PAAS probably didn’t bounce off the day’s lows as much as some because it “needs” to fall a little further. However, it held up better than most and even better than SILJ in that it was unable to even reach Thursday’s low. It’s very impressive that it couldn’t give back even the last 2 sessions under the circumstances. Another 4.9% drop is needed to reach Wednesday’s close and I bet it will make the attempt tomorrow if it is going to at all.
            I think PAAS looks great overall but my only exposure to it is through SILJ.
            https://stockcharts.com/h-sc/ui?s=PAAS&p=D&yr=0&mn=11&dy=0&id=p80378380084&a=837525000

          • On November 10, 2020 at 5:22 am,
            CaliJoe says:

            Thanks Matthew!

          • On November 10, 2020 at 7:42 am,
            CaliJoe says:

            I think your analysis is proving right, PAAS on decline to test that trendline

      • On November 9, 2020 at 4:27 pm,
        Matthew says:

        It is also impressive that only the senior gold miners were able reach their closing prices of last Wednesday. GDXJ, GOEX, SIL, and SILJ found too much buying to make it.
        SILJ, for example, would have had to drop another 49 cents (3.3%)…
        https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=5&dy=0&id=p93346929791&a=751760176

  15. On November 10, 2020 at 5:47 am,
    cfs says:

    Enduro Reports 3.03 g/t Gold over 86 Metres by Adding 2.46 g/t Gold over 26 Metres from Previously Unidentified Mineralization in Historic Drilling

    2020-11-10 08:33 ET – News Release

    Kelowna, British Columbia–(Newsfile Corp. – November 10, 2020) – Enduro Metals Corporation (TSXV: ENDR) (OTC Pink: SIOCF) (FSE: SOG) (“Enduro Metals” or the “Company”) is pleased to report further drill results from historically unsampled drill core along the McLymont Fault of the Company’s Newmont Lake Project, providing additional evidence for significantly more gold within the previously drilled area. More assays are awaited from recent drilling which tested targets beyond the area of the historic drilling, including recently released NW20-09 which cut 8.85m of 31.09 g/t Au, and 1.07% Cu 300 metres away. The Newmont Lake Project is located in the heart of British Columbia’s Golden Triangle. McLymont is one of four large-scale geological systems on the 638 km2 project controlled by Enduro.

  16. On November 10, 2020 at 5:50 am,
    cfs says:

    Cassiar Gold Corp. Intercepts 2.84 g/t Au over 12.3 m, 1.79 g/t Au over 23.75 m, and 29.1 g/t Au over 0.45 m at Taurus Bulk-Tonnage Gold Deposit
    2020-11-10 08:47 ET – News Release

    Hong Kong, Hong Kong and Calgary, Alberta–(Newsfile Corp. – November 10, 2020) – Cassiar Gold Corp. (TSXV: GLDC) (OTCQB: CGLCF) (“Cassiar” or the “Company”) is pleased to announce assay results for seven diamond drillholes from its recently completed 2020 drill program on its 100%-owned Cassiar Gold Property in northern British Columbia, Canada. The primary goal of this drill program was to continue to confirm and expand the 43-101 inferred near-surface resource of 1 million ounces at 1.43 g/t Au estimated at Taurus in 2019 (see Company news release, September 11, 2019). The remaining 17 drillholes from the program will be reported pending receipt and confirmation of results.

  17. On November 10, 2020 at 9:06 am,
    aghead says:

    Some good report from Mako. Anyone own or have opinions?

  18. On November 10, 2020 at 6:45 pm,
    aghead says:

    kuyaf was up near 100% today, atwhat price pullback should I buy more, or rather should I follow technicals or is there a general rule?