A look into the breakouts in Copper, Oil and and Bitcoin
Ed Moya, Senior Market Analyst kicks off this week with a look into a couple key sectors/assets that are breaking out. We start with copper which is confirming the breakout from last week and now is trading at level not seen since 2013. Next up is oil and the importance of the OPEC+ meeting that is on right now. Finally we look at the rise of Bitcoin and other cryptocurrencies.
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LOL…….yet……..down $2000……..go for it….
WRN has performed well for me. What other copper miners look good?
Gold looks like it could drop quite a ways to me.
M Fulp says he hope it drops, lookin to buy on the dip.
WRN has performed average for me.
On the Gold front:
Dr. Quinton Hennigh’s Novo Resources Corp. (NVO) lost another 14 cents to $2.24 on 2.02 million shares. Novo slid 39 cents Thursday, closing at $2.38 on 2.22 million shares, on word that Anthony Makuch’s Kirkland Lake Gold Ltd. (KL) is selling 18.5 million shares at $2.45 per share — and perhaps half that number again at $2.80 should Novo’s stock bounce back from the blow. Kirkland Lake added 72 cents Thursday on the news, but today it lost 18 of those cents to $52.02 on 1.1 million shares.
Kirkland Lake is selling the 18.5 million Novo shares as units, with each share accompanied by one-half of a warrant. A full warrant will allow the holder to acquire another Novo share at $2.80 over the following 12 months. Kirkland Lake currently holds 27.89 million Novo shares, so if the sale proceeds as planned, the company will be left with just 135,000 Novo shares.
The U.S. House will vote on a bill to federally decriminalize cannabis next week.
I have no idea how the House or the Senate will vote, except decrimilization will provide tax revenue.
Michel Saylor has singlehandedly since July led the charge in Bitcoin with his personal & MicroStrategies bankroll of $600 miliion. He makes the most compelling story
Cannabis legalized certainly fits a bankrupt govt agenda. Keeps the masses stupid-stoned. Now that General Flynn has finally found the floor, there’s nowhere to go but up—
SILJ took back some broken supports today:
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=3&dy=0&id=p07323100600&a=844957070
This fork looks similar at first glance but it’s not:
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=0&mn=10&dy=0&id=p44358113322&a=815101039
SLV took back an important fork support as well as the 30 week MA (to the penny). Let’s see if it holds for the weekly close as I think it will…
https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=4&mn=3&dy=0&id=p53705496464&a=619821453
SLV:GLD also took back important broken support:
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=0&dy=0&id=p97822858511&a=847638637
Hopefully this key reversal will result in a big move up tomorrow for SLV:
https://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=7&dy=27&id=p42085001171&a=847147132
SILJ has gone sideways for 4 months versus real money and the upside that will come from that base-building will be well worth the wait:
https://stockcharts.com/h-sc/ui?s=SILJ%3A%24GOLD&p=W&yr=5&mn=0&dy=0&id=p84613514160
Silver still hasn’t taken out its low of 2 months ago:
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=W&yr=6&mn=6&dy=0&id=p95812013825&a=523325696
SILJ has smoked GDX since March and will do the same during the next advance (I own both).
SILJ:GDX weekly:
https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=W&yr=7&mn=11&dy=0&id=p79569161592&a=846081750
Iamgold drills 17.3 m of 7.62 g/t Au at Nelligan
2020-12-01 07:29 ET – News Release
Mr. Craig MacDougall reports
IAMGOLD REPORTS REMAINING ASSAY RESULTS FROM THE 2020 DRILLING PROGRAM AND CONFIRMS THE EXTENSION OF THE RENARD SYSTEM TO THE WEST AT THE NELLIGAN GOLD PROJECT, QUEBEC
Iamgold Corp. has released the remaining assay results from its 2020 exploration diamond drilling program at its Nelligan joint venture project (Iamgold: 75 per cent, Vanstar Mining Resources Inc.: 25 per cent), located 60 kilometres southwest of Chibougamau, Que., Canada.
That’s my boy! My largest holding
Marathon Gold drills 17 m of 4.66 g/t Au at Valentine
2020-12-01 07:36 ET – News Release
Mr. Matt Manson reports
MARATHON GOLD REPORTS ADDITIONAL DRILL RESULTS FROM THE SPRITE CORRIDOR, VALENTINE GOLD PROJECT
Marathon Gold Corp. has provided additional drill results from recent exploration drilling at the Valentine gold project, central Newfoundland.
Radisson drills 2.5 m of 110.97 g/t Au at O’Brien
2020-12-01 06:59 ET – News Release
Mr. Mario Bouchard reports
RADISSON INTERSECTS 110.97 G/T AU OVER 2.50 M HIGHLIGHTING LATERAL RESOURCE EXPANSION POTENTIAL ON THE FIRST TREND AT THE O’BRIEN PROJECT, QUEBEC
IsoEnergy drills 3.5 m of 74% U3O8 at Larocque
2020-12-01 06:41 ET – News Release
Mr. Craig Parry reports
ISOENERGY INTERSECTS 74.0% U3O8 OVER 3.5M WITHIN 38.8% U3O8 OVER 7.5M IN DRILL HOLE LE20-76
Ladies and gentlemen,
I posted this yesterday or day before when the bearish “ they know who they are” came out to play..
Boys don’t fret! The intermediate cycle is going to put a final low soon. Today or tomorrow is a good bet.. I actually think this weeks candle will go up as high as $1920/1930 before closing red. We are forming the head. That’s what I’m seeing. And also hearing to many bearish calls now. Sentiment has changed bearish..
Cross my fingers but we may have another great call by glen lol..I will revise and tweak the numbers as I had my foggy lenses on. The head formation is being constructed right now as I speak. I’ve been the only one on record saying this. This move will have us go to $1886-$1990 region “ give or take. Precise number I’m looking for is $1888. From that level we should drop to retest these lows. Following week we should be up up and away!
Glen
Thanks for the POST ……GLEN…… When the no nothings post, you know you are coming into a low….. lol…… 🙂
They have been wrong for years, and will continue to be wrong….clueless… 🙂
Hey, It is my birthday……..and I am going to Rant… 🙂
P.S
If we continue this streak of great calls, spare change in the form of gold coins and silver rounds would be welcomed lol.. 😄🍾
I call this pattern “Appendix Low”: https://postimg.cc/Hcx9zXZS
If it holds, and rises from this level, the bottom may be in now.
Brixton Metals Discovers New Gold Zone at Outlaw West and Expands the Central Outlaw Zone at its Thorn Project
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20201201:nGNX5Vb5C6&default-theme=true
Timberline drills 15.24 m of 10.09 g/t Au at Eureka
2020-12-01 07:43 ET – News Release
Mr. Patrick Highsmith reports
TIMBERLINE CONFIRMS AND EXTENDS HIGH-GRADE GOLD MINERALIZATION AT ITS EUREKA PROJECT, NEVADA
This long correction has been picture-perfect normal for Brixton:
https://stockcharts.com/h-sc/ui?s=BBB.V&p=W&yr=4&mn=11&dy=0&id=p45814183272&a=784535601
Today’s sellers are very short-sited.
https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=1&dy=0&id=p82069619219&a=777823275
Osisko Mining drills two m of 13,634 g/t Au at Windfall
2020-12-01 07:40 ET – News Release
Mr. John Burzynski reports
OSISKO WINDFALL INFILL DRILLING: VERY GOOD
Osisko Mining Inc. has provided new analytical results from the continuing expansion and definition drill program at its 100-per-cent-owned Windfall gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Que.
The GDX:SPY correction was also perfect:
https://stockcharts.com/h-sc/ui?s=GDX%3ASPY&p=W&yr=5&mn=6&dy=0&id=p05204594298&a=726869771
KTN is up 12.5% and looks ready to go:
https://stockcharts.com/h-sc/ui?s=KTN.V&p=W&yr=5&mn=5&dy=0&id=p18094848856&a=608101183
Jerry,
Wishing you on this day the greatest birthday ever with what you like to enjoy surrounded by great people and family. As well as great health and the best on your investments. Cheers to you Jerry for keeping this wonderful family chat forum alive always your pal Glenn.🍾🍾🍾🍺🥃🎉🎉💸💸🥇
Matt
Loving the charts they really re-assure the agenda and it looks great amigo! Time to head up up lol..
This is no fake-out like we had 3 weeks ago. 🍻
Glen…………THank you kind sir………appreciate the thoughts…..as always Your pal.. 🙂
Bitcoin and etherium both doing great as swing trades for me . use greyscale . Thru research discovered sq and pypl are in with bitcoin surge . So i have traded and now near rebuy of SQ and now have my first order in to buy on limit paypal near present price . traders dream the churn but dont over buy your positions my gold stocks are slowly recovering have faith best lf health and wealth to you all . OSSOFF AND WARNOCK YES