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Hour 2 – Making sense of copper’s breakout, gold stocks continued correction, and possible M&A in the sector

Cory댊
November 21, 2020
Full Second Hour

In this hour I focus on commodities starting with the breakout in copper this week. I also get a couple comments on the continued pullback in precious metals stocks and an update from Great Bear Resources.

Please keep in touch by sending me questions for companies and any guests you would like to see on the show. Also let me know what you think of this weekend’s format with 2 hours on the markets and metals. My email address is Fleck@kereport.com.

  • Segment 1 – Dave Erfle kicks off the second hour by sharing his thoughts on the sustainability of the uptrend in copper. We then focus on the PM stocks in terms of where investors stand moving into year end.
  • Segment 2 – Brian Leni is up next to address those concerned about the correction in gold and silver stocks heading into the end of the year. He also shares a couple stocks he is thinks should be watched.
  • Segment 3 – Chris Taylor, President and CEO of Great Bear Resources (TSX.V:GBR & OTCQX:GTBAF) joins me to take a step back from Great Bear and comment on the overall metals markets when it comes to M&A and general interest.
  • Segment 4 – Chris Taylor is back to update us on the drill program underway for great Bear Resources. We also discuss the recent metallurgy test results and a new nominee to the Board of Directors.

Exclusive Company Interviews This Week


Dave Erfle
Brian Leni
Chris Taylor – Part 1
Chris Taylor – Part 2
Discussion
40 Comments
    CFS
    Nov 21, 2020 21:17 AM

    Uranium in Athabasca: old location, new techniques.
    https://youtu.be/cxLI6tSoMZE?t=72

    b
    Nov 21, 2020 21:42 AM

    BOB MORIARTY | Common Sense Approach to Politics, Precious Metals, and Resource Stocks

    https://youtu.be/nTlI6LjlJf8
    nov 20

      Nov 21, 2020 21:49 PM

      Hi..b..That was a great interview with Bob…Everybody should listen to it.

        Nov 21, 2020 21:52 PM

        Yes, Tony. Bob makes me want to buy more NSRPF and LOMLF, and more ammo too.

    Nov 21, 2020 21:09 PM

    Yes bonzo…go fill your boots…

    b
    Nov 22, 2020 22:05 AM

    Big money has begun moving into bitcoin, people like Doug Casey recommending it.

    I wonder how much of an effect this is having on gold.

    Cory, is there any chance you could do a show about that?

      Nov 22, 2020 22:12 PM

      Hey B,

      I’ll work on getting a few more comments on Bitcoin over the next couple weeks.

        b
        Nov 22, 2020 22:50 PM

        Thx Cory,
        I would really like to hear from someone that knows something ( a guru maybe) about bitcoins affect on gold investment, if any.

            b
            Nov 23, 2020 23:57 AM

            I saw that.
            What I am interested in is how much money is not going into gold due to bitcoin.
            Could this “gold rush” be muted because of it.

            On other blogs Ive been on young people have no interest in gold but they sure like bitcoin and other cryptos.

            They make a valid point that both have to be exchanged for cash to spend it and anything can be used as currency.

            So they see no dif. in that regard.

            What they do see is bitcoin from pennies to 20k and gold from $300 to $2000,
            so much for preserving purchasing power.

            Nov 23, 2020 23:30 AM

            There’s no doubt that some money is going into BC that would’ve otherwise gone into gold but I think is relatively tiny. The vast majority of BC buyers, young and old, are just chasing excitement in the hopes of getting rich. The money that makes the gold price, on the other hand, is seeking asset preservation (because it is big/smart and understands gold). Aside from the tiny few who use the futures market leverage successfully, only tiny/dumb money might attempt to get rich in gold. BC is simply pure speculation and clearly driven by dreams of huge capital gains.
            Gold remains the safest long term asset while BC is one of the riskiest since it has no assets or cash flow. In fact, it is easily more speculative than the gold miners.

            Nov 23, 2020 23:34 AM

            Re: “What they do see is bitcoin from pennies to 20k and gold from $300 to $2000,
            so much for preserving purchasing power.”

            That statement is incorrect. BC moved because of speculative interest alone which resulted in a mania. It had nothing to do with the performance of the USD or stocks or bonds.

            b
            Nov 23, 2020 23:49 AM

            You know I agree with you.

            The thing is, bitcoin is spreading, billionaires and institutions are buying it now.
            Countries are using it to get around american sanctions.
            In calgary realtors mention accepting bitcoin in their adds.
            China is already digital.
            Most important, young people like it.

            A big issue with gold, it destroys the environment, they’re right.

            Be nice if the effect stays tiny for awhile, I have no idea whats going to happen with bitcoin, Bob could be right, its a con, but people choose the currency they use and they sure dont like governments these days.

            Im not selling my metal in any case.

            b
            Nov 23, 2020 23:23 AM

            Matthew says:
            Re: “What they do see is bitcoin from pennies to 20k and gold from $300 to $2000,
            so much for preserving purchasing power.”

            That statement is incorrect.

            That statement is correct.
            What they see.

            I didnt say they understood anything, It very well could be modern tulip bulbs but guys like Casey know all about tulips and still recommend owning some.

            Alot more than Casey he is just the last interview I saw.

            Nov 23, 2020 23:46 AM

            I see. Thanks for clarifying.

    Nov 22, 2020 22:32 AM

    Thanks for the comments guys and the video with bob!

    I’m personally expecting further downside to all shares..This long and dragging correction has not yet finished its move downward. We are getting close and it’s been long in the tooth as Gary would say.

    The longer this correction the better the upward movement and lasting movement will be..
    It has been long in the tooth and overall the intermediate cycle from low to high and back to low is running close to 9 months something I spoke of many many months ago.

    As you know it’s anyone’s guess where we bottom but I still believe this monthly current red candle “may” make an aggressive move starting as early as tonight and finally possibly make its way towards that target I have had for sometime $1781. If it’s going to happen it’s going to be fast action from what I see on the charts two/ three days hard down followed by a spike up and close green on Monday. This is is pure speculation but also a high percentage probability from my lenses. Because of that my remaining tranche is ready for deployment..

    Stay tuned! Good luck to all as I’m Mersey everyone’s post in here.

    Jerry thanks for the humour the other day 😆 all good. Matt keep those charts coming and hopefully ex and others can share what they see.

    Glen

      Nov 23, 2020 23:58 AM

      Glenfidish, I tend to agree with your summary. Gold is wanting to go lower in my eyes. If its a quick drain like you say we could still see $2000+ by years end but if its more of a grind then $2000 will be out of reach before years end.

      Nov 23, 2020 23:08 PM

      Hey Glen……….you are welcome……. 🙂

    Nov 23, 2020 23:02 AM

    The evil doers were pumping bitcoin this AM. I still remember with Jamie Dimon said “don’t own it”. Thise bank guys are so silly about our money. Who to trust….who to trust… In honor of todays bitcoin recommendations, I bought some Labrador Gold and rebought Somoman.

    Nov 23, 2020 23:10 AM

    Wild guess but I am thinking they will walk the miners down all day long. The gold smash has to trigger a lot of stops. Go to your bunkers and watch reruns of “It is a Wonderful Life” until the criminals leave your neighborhood.

      Nov 23, 2020 23:00 AM

      Blackrock Gold had some good silver drill results. Real buyers bought and took it up 8-9% early…then the parasites joined in and drove it negative. Bad day to release good news. The miners might as well wait until after open before releasing good news to find out if the counterfeiters have to launder their goods that day. Good news only applies to the outsiders.

    Nov 23, 2020 23:57 AM

    Thank you Matt, ALWAYS appreciate your charts. Here is Gary’s take on the breakdown.
    https://blog.smartmoneytrackerpremium.com/

      Nov 23, 2020 23:08 AM

      Thanks Chris. Here’s another for SILJ. I do not want today’s low to be broken, especially on a closing basis:
      https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=6&dy=0&id=p79810056734&a=718724433

        Nov 23, 2020 23:08 AM

        Thanks for the comments guys and the video with bob!
        I’m personally expecting further downside to all shares..This long and dragging correction has not yet finished its move downward. We are getting close and it’s been long in the tooth as Gary would say.
        The longer this correction the better the upward movement and lasting movement will be..
        It has been long in the tooth and overall the intermediate cycle from low to high and back to low is running close to 9 months something I spoke of many many months ago.
        As you know it’s anyone’s guess where we bottom but I still believe this monthly current red candle “may” make an aggressive move starting as early as tonight and finally possibly make its way towards that target I have had for sometime $1781. If it’s going to happen it’s going to be fast action from what I see on the charts two/ three days hard down followed by a spike up and close green on Monday. This is is pure speculation but also a high percentage probability from my lenses. Because of that my remaining tranche is ready for deployment..
        Stay tuned! Good luck to all as I’m Mersey everyone’s post in here.
        Jerry thanks for the humour the other day 😆 all good. Matt keep those charts coming and hopefully ex and others can share what they see.
        Glen

        Nailed the call! Yet only one person responded.. I now understand ex and his frustration on the lack of appreciation for ones work.

        I will take along break and return on the new year. Sorry to the one or two that have followed me lol. All good

          Nov 23, 2020 23:10 AM

          Also I see way to many posters on here who jump on the wagon and than proclaim what is happening. Not one see. This coming and I posted way before hand. Real time glen!

            Nov 23, 2020 23:09 PM

            Again……..Hey Glenn………you are welcome……. 🙂 🙂

            Nov 23, 2020 23:10 PM

            oops……sorry for the extra “N”….Glen

          Nov 23, 2020 23:34 AM

          Glenfidish:
          I will say good call, but what bothers me is the dumping of counterfeit contracts right at open which obviously goes through a long line of stops. Now I am not so sure gold or silver goes down without intervention. I do not consider intervention anything other than market manipulation and that used to be illegal. Since breaking the law is the way market makers (by the Federal Government enabling the banks) control price, then I am always concerned about anyone’s opinion about where markets are going. They go where they want them to go.
          I am with Matthew and “hope” it doesn’t go lower, but I don’t have the funds to buy enough contracts to counter the counterfeit contracts that are just fraudulently issued by the banks. You don’t hear Eric Sprott say “I think I will buy some contracts to make the price of gold go up.” He knows if he does they will counter with a bunch of bogus contracts until they get price back to where they want it. Think about Options Expiration and how they manipulate price to the “sweet spot” for bank gains. They know in advance what options are out there and move price to make money for the banks.

          So I guess I say “nice call”, but recognize that you are at the mercy of a corrupt system and markets. Give the MMs some credit for making price what they want.

          Sorry for the “rant” but I have been watching this crap for years and the Federal Government grow more corrupt over time. We have probably hit a quaddrupleround bottom for the Federal Government. That’s my best projection.

          Nov 23, 2020 23:48 PM

          With PAAS being the largest holding of SILJ and HL being the largest contributor to one-year performance of SILJ – according to https://www.koyfin.com/snapshot/hds/SILJ
          I’m tempted to buy one of those two. But no guts to buy in size that makes it worthwhile, so continuing to add to Managed Fund in small tranches and no transaction fee charged.

            Nov 23, 2020 23:58 PM

            That’s not a bad idea. I choose the ETFs for the purpose of trading the sector without the risk of company-specific bad news getting in the way when I least expect it. It would be nice if SILJ were as liquid as GDX but it’s ok.
            I’ve had a couple of possible bottoms that so far and I think I just might get another try tomorrow as the senior golds look like they are heading for 33.50+/-
            4 hour chart:
            https://stockcharts.com/h-sc/ui?s=GDX&p=240&yr=0&mn=6&dy=5&id=p77456199672&a=844764592

            Nov 23, 2020 23:29 PM

            Thanks for the feed-back.
            I keep an eye on what Jack Chan is doing as well, and his latest public piece is cautionary.
            “Gold sector cycle is down.”
            “Our ratio is on SELL signal.” (HUI:GLD)

            With a positive note to end:
            “The multi month correction is at or near completion.”

            http://www.321gold.com/editorials/chan/chan112320.html

            This is a reply to Matthew – in case it ends up in the wrong place,

            Nov 23, 2020 23:18 PM

            Funny, I just noticed I left off a word I don’t like: failed. Meant to say: “I’ve had a couple of possible bottoms that failed so far…”

            Thanks for the Jack Chan link.

            Nov 24, 2020 24:05 AM

            GDX 33.50+/-
            Good call Matthew !

            It’s right in the Volume by Price support zone.

            http://schrts.co/mwuCYVFY

    Nov 23, 2020 23:39 PM

    Fork: looks good to me. Go up Silj.

    Nov 23, 2020 23:14 PM

    “Platinum Group Metals (PLG)/platinum leading the way higher in the commodities sector. Gold and silver will follow suit soon.” @chayse1984

    https://twitter.com/chayse1984/status/1330979907158102019/photo/1

    Nov 23, 2020 23:06 PM

    Another walk down crash when none if us are in the market. I wonder if the miners are reporting better earnings than most of the general market stocks. I shouldn’t ask as earnings aren’t a consideration. Maybe by morning they will pass out on whatever they are drinking.

    Nov 24, 2020 24:09 AM

    Biden sellout with Yellen appointment. Four more years of unobstructed Central Bank thefts and corruption. General Markets continue 12 year run. Precious Metals smashed due to two months of rally after 8 years of suppression. Unpayable debt continues to soar. Miner profits grow.

      Nov 24, 2020 24:22 AM

      Also…North Dakota Covid deaths at highest percentage of population of any “country” in World. ND politicians explain that it is because residents are Cowboys and won’t be told what to do. Politicians should tell SD residents not to buy PMs.