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A focus on the gold market continued downtrend and GDX and GDXJ near term support

Cory
January 27, 2021

Jordan Roy-Byrne, Founder of The Daily Gold joins me to look at the daily charts for GDX and GDXJ to assess where the next bounce could come from. We also discuss the barrage of comments calling for a crash (or pullback) for the US markets and how this plays into precious metals investing.

Click here to visit Jordan’s site – The Daily Gold.

Discussion
130 Comments
    Jan 27, 2021 27:58 AM

    Looks like SPY is about to revisit the 3500 area:
    https://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=1&mn=0&dy=0&id=p06065597168

      Jan 28, 2021 28:22 AM

      Matthew this is a great site…Was the chart somewhere inside of squeezemetrics,bullmarkets.com?

        Jan 28, 2021 28:26 AM

        Matthew found it on that twitter link…Thank you for that site so much!…a true gem…charts of internals and much more that my platform cannot accomplish….

          Jan 28, 2021 28:47 AM

          šŸ‘šŸ»

    Jan 27, 2021 27:06 PM

    Matt, thanks for your thoughts before.
    Do I dare to ask for an opinion now?
    Your 5% call was spot on.
    Now what?

      Jan 27, 2021 27:08 PM

      If I had answered you at the time you asked that question, I would have guessed that tomorrow would probably bring another big dip. By mid day, my favorite junior silver miner, Impact Silver, was almost 20% above its morning low while Kootenay Silver was 15% above its low but then both reversed. In Impact’s case, the reversal was enough to fill an intraday gap which I am happy about but Kootenay continued on to make a significant new low. The action was the same throughout the sector and SILJ also plunged late in the day to retest the morning low (and it did form a very nice looking little double bottom on the 60 minute chart). The development that makes me much less sure of more downside was SILJ’s after hours trading. It finished more than 6.5% above today’s regular hours close. While it is true that after hours trading often doesn’t mean much, that move was very unusual. I just wish I had been around to see how much volume was involved.
      So, my answer is that the bears are more confident than they should be and big quiet bulls are almost done letting them have their way. More downside is still a definite possibility but I think it will be brief if it happens.

      SILJ finished after hours trading at 14.54 which puts it back above today’s broken fork support. It would be very surprising to me if it opens tomorrow anywhere near as high as 14.54 but I wouldn’t be surprised if it closes around there or higher. If I’m wrong about that and tomorrow is just ugly all day, I still think we will be forming a significant low.
      https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=1&mn=6&dy=0&id=p35059457672&a=869528082

      Jan 27, 2021 27:13 PM

      Another 5% drop in XAU would really wring the market of weak hands.
      https://stockcharts.com/h-sc/ui?s=%24XAU&p=D&yr=0&mn=11&dy=0&id=p75326119649&a=715271477

      Jan 27, 2021 27:01 PM
      Jan 27, 2021 27:07 PM

      AG (First Majestic) jumped 19% after hours and I don’t know why.

        Jan 27, 2021 27:25 PM

        The market chatter was that the jump in First Majestic was a coordinated short squeeze from the Wallstreet Bets followers. That would explain the sudden jolt higher, as shorts panicked to cover. It is just odd that it happened afterhours. It will be interesting to see how it trades tomorrow.

        ___________________________

        Wallstreetbets Discovers (AG) First Majestic Silver – Short Squeeze

        Soar Financial – Jan 27, 2021 w/ Robert Sinn (aka @Goldfinger)

        “On Monday (Jan 25, 2021) we discussed a potential short squeeze of First Majestic Silver on #SFLiveā€‹ with Robert Sinn of Trading Lab.”

        https://youtu.be/QDFkHiVNeL4

    Jan 27, 2021 27:53 PM

    Thanks for your thoughts Jordan!

    Everyone including the neighbor is worried about the November low not holding. I have not seen this panic in sometime and itā€™s evident including In here. Sentiment is already there imo. I think gold has bottomed and The inverse head and shoulder is holding strong.

    My miners have not put in new lows we have done nothing more then backfill for weeks now as mentioned. We are going to move very very soon!

    Glen

    Jan 27, 2021 27:07 PM

    Personally, Iā€™m invested for the bullish thesis and the eventual breakout, and have been actively trading in the markets the last few weeks, and moving money off the sidelines to increase my Gold Silver stocks exposure. However, Iā€™m cognizant of a number of technicians warning of more potential weakness, should Gold break down further challenging the low $1800s and worse the high $1700s, dragging the sector down with it.

    So while Gold has mainly channeled sideways between the 55 day EMA and 233 day EMA, Iā€™d prefer to see it stay above that 233 day EMA (currently at $1802.34), and definitely want to see it stay above that November trough low at $1767.20.

    It would be quite bullish to see Gold close above the 55 day EMA (currently at $1870.67), and even more bullish to see that happen on the weekly close.

    The Gold Chart I worked up below shows gold channeling between those 2 EMAs, and as pricing is piping sideways, the energy is building for a large move out of this consolidation.

    https://schrts.co/HUYZSqmP

      Jan 27, 2021 27:09 PM

      Those EMAs may update later, but stockcharts hasn’t put in the new figures yet.

      I’ll post an updated chart & numbers for the 55 and 233 day EMAs later, once they come in.

        Jan 27, 2021 27:27 PM

        OK – Stockcharts has updated their figures so here is an updated Gold Chart.

        The 233 day EMA is now at $1802.70, and the 55 day EMA is now at $1869.75.

        https://schrts.co/vsGvwVSF

        Jan 28, 2021 28:41 AM

        Thanks Matt! Youā€™re really great!
        A serious question: have you ever thought about a starting a paid membership website sharing your fantastic insights? I for one would sign up and Iā€™m sure there are lots of ppl like me that would too. Your charts, analysis and thinking beats the most of the others out there.
        Please do consider it.

        Cheers!

      Jan 27, 2021 27:23 PM

      As for the Gold miners: (GDX) has already broken below the 233 day EMA, which has been bearish, but I’d like to see the support trendline in the low $31’s hold steady if there is any more selling pressure. For the bullish thesis, reclaiming the 233 day EMA would be first stop (currently at $35.28), and then getting above the 55 day EMA (currently at $36.32) would be the next resistance to take out. However, to shift things more bullish, then really that most recent January peak at $39.01 needs to be eclipsed on a closing basis, and then the miners will have gained more upside momentum in the next impulse leg higher.

      https://cdn-ceo-ca.s3.amazonaws.com/1g13m3s-GDX%20Chart%20With%20EMAs%20and%20Support%20Trendline.JPG

        Jan 27, 2021 27:31 PM

        Eloro – sold 30% @ $2.88 US, 30% @ $3.13 US

          Jan 27, 2021 27:34 PM

          Fantastic trading Marty. Yes, Eloro has really moved strong as new Silver explorer, so congratulations.

          I ended up picking up more (SILV) Silvercrest today at $8.95. I know you had mentioned waiting until it got back down in the $8.30ish region before you wanted to buy back the position you trimmed, but I’m fine accumulating top quality and averaging into a larger position as the sector pulls back.

            Jan 27, 2021 27:06 PM

            EX, Iā€™m 36% cash right now at least until the 1st.
            Itā€™s Woo Woo, but Clif High last 2 YouTubes are worth a listen , if only to get potential perspective

            Jan 27, 2021 27:42 PM

            Yeah, I’ve had the largest cash position personally, and had the most percentage funds set aside in my trading account in a long time, but will confess to deploying a big chunk of funds the last week or two, including today.

            I’ll check out the Cliff High woo-woo youtube later on, and am open to considering a range of possibilities, and like getting different perspectives. Thanks Marty.

          Jan 27, 2021 27:36 PM

          Jordan, we havenā€™t had a business cycle this millennium

          Jan 27, 2021 27:41 PM

          Jordan , there is always intervention by the ESF in pmā€™s & miners

      Jan 27, 2021 27:36 PM

      Quite some sell-off in PM stocks today. Must be bargains, as most of them make huge profits, even at $1700 gold.

        Jan 27, 2021 27:45 PM

        Yes, plenty of bargains out there today in the PMs and in the Uranium stocks. I was busy on the bid scooping up shares in a number of companies: Hecla, Endeavour Silver, Sierra Metals, Silvercrest, Dolly Varden, Freegold Ventures, Grid Metals, Ur-Energy, Azarga Uranium, Standard Uranium, and a Short Russell 2000 position.

        Yesterday I had added to more PM and Uranium stocks topping up Blackrock Gold, Sierra Metals, Inca One Gold, and Energy Fuels. In addition I started brand new positions in Liberty Gold, Atico Mining, and HAVN Lifesciences.

        Lot’s to buy….

          Jan 27, 2021 27:04 PM

          That is all I did today was top off a few and watch more decline: Fireweed, Cartier and Aurion.

            Jan 27, 2021 27:05 PM

            Yeah, I saw the news from Fireweed on those great zinc drill intercepts. Looks like they are on the right track and adding onto one larger undeveloped zinc deposits in Canada.

            I really like both Cartier and Aurion, and just started positions in both relatively recently, but am just holding those positions in both for now.

            May your trading be prosperous.

      Jan 27, 2021 27:57 PM

      The royalties seem to pull back more than the producers

      Maverix -5.54%
      Wheaton -5.39%
      Osisko -4.86%
      Sandstorm -4.57%

      Some of them are already at April level

      Wheaton and Franco are not so far away from the March lows

        Jan 27, 2021 27:30 PM

        Thanks Thomas. I considered adding more to Maverix and Sandstorm today, but wanted to fortify some positions in the individual miners, and I’ve already got a beefy exposure to the royalty companies. However, if Sandstorm pulls back any further, I may have to add one more tranche, as they’ll be a great longer term value play for more conservative capital as the gold bull continues to unfold the next few years.

          Jan 27, 2021 27:26 PM

          (MMX) Maverix Metals soon to be added to the GDXJ?

          Cambridge House International Inc. – Jan 26, 2021 #VIDEO interview

          Ryan Mcintyre, President of Maverix Metals Inc. at the Vancouver Resource Investor Conference

          1:20ā€‹ Jay’s Highlights
          2:26ā€‹ Ryan’s Background
          4:07ā€‹ Royalty Model Explained
          7:10ā€‹ Record Setting 2020
          8:45ā€‹ Gold Price Impact on Maverix Stock
          10:28ā€‹ Newmont Transaction
          12:30ā€‹ Stock Hasn’t Run Yet
          15:21ā€‹ Diversifying Shareholders
          16:47ā€‹ Qualifying for GDXJ in 2021

          https://youtu.be/PZSJ1GT_JXs

    Jan 27, 2021 27:55 PM

    My portfolio looks like the HUI. Approaching 70% of the August top. Backin’, Backin’, Backin’ with very little fillin’. Personally, I’ll not be surprised to see 255 on the HUI or thereabouts.

      Jan 27, 2021 27:15 PM

      Silver, I believe you will be correct but maybe understating the decline–225-250.-

    Jan 27, 2021 27:15 PM

    You need to put me on ignore and stop attacking me as you show your colours..The fact that you posted right after me shows that through your post. You have been doing this for years and to others as well. Here is a clear example of it.

    . However, Iā€™m cognizant of a number of technicians warning of more potential weakness, should Gold break down further challenging the low $1800s and worse the high $1700s, dragging the sector down with it.

    Do you think Iā€™m not cognizant of others? My post was reflective of my views and if you donā€™t like it use the ignore button but stop trying to be an ass and playing mother Teresa for everyone when clearly your the only one offended by my post.

    You take jabs at me about not posting charts. You posted an elementary chart is that all you have? And your clearly not cognizant of my morning call which others seen that gold could go into the $1817-$1827 level go back and read šŸ˜“

    Stop baiting and ignore me but also donā€™t take shots at me within your post I can see it and so can everyone else.

    Be man!

    Glen

      Jan 27, 2021 27:13 PM

      Glen what ini the world are you banging on about now? I had posted some of those same thoughts (and that exact same wording you posted) yesterday when disussing the Gold prices, long before your post today. I was looking at the gold chart I had worked up and listening to Jordan, and posted that clarify a few of the points I had mentioned yesterday.

      None of it had anything to do with you, and my world doesn’t revolve around Glen. I could care less about your posts that ramble on about nothing “backing and filling and going to head up soon…” Wow, thanks for those earth-shattering insights.

      My post was offering the technical setup, actually pricing support and resistance levels as the 55 and 233 day EMAs, and noting prior peaks and troughs, and had an actual chart accompanying it. (oh…. and I did real time… šŸ˜‰ )

      The fact that you need to keep dumping garbage like this on a blog that was completely peaceful, with everyone sharing insights, up until your petty post, is the sad part.

      Get over yourself. The world doesn’t revolve around you Glen.

        Jan 27, 2021 27:56 PM

        Do you listen to yourself? If your world didnā€™t evolve around me you wouldnā€™t be responding to me each and every time. I think your ego is bigger then your mouth or vice versa. You didnā€™t post jack shit about $1817-$1827.. range all you posted was your November low number holding. And your iffy about it not assertive in your trading which is proof that your not a good trader or maybe you are a fantastic ā€œ traderā€ literally. But thatā€™s besides the point my posting may be nonsense to you but of value to others just like your post donā€™t do jack shites for me in any possible way. Your a con artist who needs to be exposed with the history of always selling after the fact or trimming after the fact and then suddenly being all cash lol just in case we go lower like you always have the alibi.

        Stop feeling so insecure that you need others to join you in your fight. Your nothing more then a board cheerleader whoā€™s calls over the years are very passive= you make chump change

        And if you think my inverse head and shoulder formation is a bullshit call, you need to live with that call šŸ˜‰. That right shoulder in your chart was unimaginable to you as I already had envisioned it way before. Itā€™s not about tooting my horn but about that my forward thinking is way ahead of yours. So you can keep name calling and begging others to join in your fight but I could care less as the ones who join you Iā€™m not the least surprise one bit.

        Glen

          Jan 27, 2021 27:09 PM

          Yikes…. what a head case. Alrighty then…. Ignored.

            Ann
            Jan 27, 2021 27:09 PM

            Covid..??

            Jan 27, 2021 27:31 PM

            Good one Ann! šŸ¤£

            No, unfortunately his issue is likely something far worse and more deep-seated than that.

          Jan 27, 2021 27:50 PM

          Ann,

          Thx for your two cents! Covid? I donā€™t believe in such bs.. you mean the flu? No I take all vitamins and run over 1 hour a day non stop.

          Iā€™m good

          Glen

          Jan 27, 2021 27:55 PM

          Proves my point that ex or formerly known as shad is a leftist idiot and wonā€™t go to bed but Iā€™m ok working overtime to help sooth his narcissistic ways lol..

          Fact is shad= believes in covid dumb idiot

            Jan 27, 2021 27:31 PM

            While I appreciate your continued trolling and insults, as usual you are incorrect and bearing false witness about someone else ( a far worse sin than drinking a glass of wine).

            Outside of Glen’s fantasy narratives, I’m actually quite conservative and lean more libertarian and anarcho-capitalist than anything, but don’t have an official political label. I also like long walks on the beach… šŸ˜‰

            FYI – both my elderly patents have Covid right now, and my mother was given emergency serum with the antibodies, since she is high risk and on immune suppressors. They are staunch conservatives as well, and got sick regardless.

            Jan 27, 2021 27:09 PM

            Re: “They are staunch conservatives as well, and got sick regardless.”

            I have to say, that is cringey. Why wouldn’t “staunch conservatives” get one of the several corona viruses? What’s with such a comment if you’re not a lefty?

            FYI, according to the CDC:
            Nearly 80% of all coronavirus-related deaths in the US through November 28, 2020 have occurred in adults 65 years of age and older and only 6% of the deaths had COVID-19 as the only cause mentioned. On average, there were 2.6 additional conditions or causes per death.

            That’s right, only 6% of the deaths had COVID-19 as the only cause mentioned. The survival rate is very similar to that of the common flu and HIGHER among young people:
            0-19: 99.997%
            20-49: 99.98%
            50-69: 99.5%
            70+: 94.6% (This number is held down by those over 85 as they are 2.75 times more likely to die than those 75 to 84.)
            Again, this is CDC data so the truth is probably even better.

            The unequivocal fact is, COVID-19 kills very rarely and is mostly limited to the medically fragile.

            Jan 27, 2021 27:43 PM

            Ha! I’m far from lefty, and just got done saying I’m a conservative and lean more towards libertarian and anarcho-capitalist thought, but I don’t have a political label.

            Glen was puking on the blog again, and acted like because I laughed at Ann’s joke, which was clearly in good fun, that I’m suddenly a leftist socialist. Ridiculous.

            I wrote:

            “FYI ā€“ both my elderly parents have Covid right now, and my mother was given emergency serum with the antibodies, since she is high risk and on immune suppressors. They are staunch conservatives as well, and got sick regardless.”

            The point was obvious and not rocket science to understand. They both denied that Covid-19 was real and said it was a hoax, which are conservative news talking points, until they both came down with it. The coronavirus they came down with, called Covid-19, didn’t care if they were left or right.

            Both of my parents completely lost their sense of smell, and taste. They said they’ve never experienced anything like it in their entire lives, and never had that happen by just getting the flu, something everyone has had many times in their life. Whatever the this novel coronavirus is…. is unique.

            You just posted:

            “The unequivocal fact is, COVID-19 kills very rarely and is mostly limited to the medically fragile.”

            No argument there. I just stated above that my mother had emergency blood serum with the virus antibodies in it injected into her, as she is the “medically fragile”, is elderly, has cancer in remission, and has had Crohn’s disease her whole adult life, and takes immune system suppressors. A common cold could kill her, much less whatever Covid-19 is, and her doctors and nurses sprung into action to get her the antibodies and had to immediately take her off all her other medicine as they felt it was life-threatening.

            I asked if they still thought it was a hoax, and they both have changed their tune to it is definitely something novel.

            There should be nothing cringeworthy in any of that.

            Jan 28, 2021 28:22 AM

            What is really not rocket science is the fact that it IS a hoax for all intents and purposes when you consider the magnitude of the unwarranted misery and destruction that these tyrants and their criminally imbecilic followers have caused. Get it?

            P.s. – Your parents changing their tune doesn’t make them right.
            The loss of taste and smell is nothing new among corona viruses and happened to me as a kid more than once. This virus is as new and special as all the other strains that we’ve ignored over the years. Propaganda is the real pandemic and it is much more devastating because so few are aware it exists.

            Jan 28, 2021 28:32 AM

            Matthew in general I agree with those comments, and have not agreed with the media hype, the government overreach, the shutting down of the economy, or the hysteria around it. I posted all spring and summer (dozens of posts on the KER polticis board) about how against all of that I was. The company I worked for laid off thousands nationwide, including my position, because of the destruction these policies have done to the economy.

            All I did was laugh at Ann’s joke, and then Glenfidish posted:

            “Proves my point that ex or formerly known as shad is a leftist idiot and wonā€™t go to bed but Iā€™m ok working overtime to help sooth his narcissistic ways lol..”

            “Fact is shad= believes in covid dumb idiot” — Glen.

            It is interesting you found my comment about my sick dying mother getting Covid 19 as cringeworthy, but not that garbage from your biggest super-fan. If you were being objective, then Glen’s comments were way out of line.

            When I took the time to reply back on my political leanings towards libertarian and anarcho-capitalist though, and then get called a lefty again, that is just silly.

            I’ve never experienced, and neither had my parents, a complete loss of smell or taste, and even in your posts, you outlined there are a number of corona virus strains, and one is called Covid-19. It is an absurd stretch to have Glen calling me a “leftist idiot” and “believes in covid dumb idiot” and then simultaneously agree that there is a virus called Covid-19. For god’s sake, all I said were both my parents had it, both had the unique experience of losing their sense of smell and taste, which is a symptom of this coronavirus strain, and I said my mother on immune suppressors had to have all her Crohn’s medicine halted immediately so they could rush her in to get the Covid 19 antibodies in the blood serum injected. That is hardly a hoax for her.

            I get and agree with the overall point you were making about the huge government over-reach, the trampling of individual liberties with the mask mandates, the other costs (suicide, drug overdose, domestic violence, etc..) due to everyone being locked inside, and the decimation of the small business sector. Many of my favorite concert halls, restaurants, bars, and entertainment venues are closed forever. Many of friends that had jobs at salons, massage therapists, yoga instructors, dance instructors, martial arts instructors, etc… lost everything this year, and it irritates me to no end. Trust me I get it, and have enjoyed and agreed all the Tom Woods audios you’ve posted. He is spot on.

            Jan 28, 2021 28:11 AM

            There’s no good reason to point out that it “is hardly a hoax for her.” The common cold is no joke for thousands of people every year and I’ve seen young generally healthy people quickly struck down by pneumonia. My son had covid and beat it with no treatment but that’s also here nor there. Personal accounts are tools of political hacks seeking consent or obedience from the fools they purposely terrify.

            Jan 28, 2021 28:34 AM

            You didn’t address most of the points made in that post that we are mostly in agreement, that I share your views on government overreach, the damage from the lockdowns, the collateral damage in so many areas of public health due to the lockdowns, and I’m totally against the tyranny of collectivists.

            This whole thread started because Glen said I was a “leftist idiot” and “Fact is shad= believes in covid dumb idiot”

            We’ve already stated that there is obviously a strain of coronavirus called Covid-19, and to state that is not leftist and not dumb. Do I believe all the hype, the manipulated stats, or the media hysteria about – of course not. That was never the point, the point was his nonsensical blanket statement that I was dumb for even believing it exists. If that can’t be called out then people are turning a blind out to his insults and garbage posts.

    b
    Jan 27, 2021 27:08 PM

    Im never sure who you are talking to Glen.
    Maybe you should be using an ignore, I didnt know there was one.

    China’s muted gold demand: Gold imports from Hong Kong plunge 85% in …
    Kitco News01:28PM

    Russia and India have reduced gold buying as well, thats alot less demand lately.

      Jan 27, 2021 27:22 PM

      He’s just trolling me like he has been the last few weeks, and continuing to think every post is about him, when I could give 2 chits about his H&S nonsense, and my posts are simply sharing investing information.

      Lately, if I post company news, macro economic pundits, mining conference videos, or a general article, he says it is cut & paste BS and he knows it all, and it is all bogus. (Yeah… OK)

      If I post another technician’s analysis, he claims they are all wrong and nobody makes money,” not even a penny.” (which is complete horsecrap)

      If I post my thoughts about value investors in miners not worrying about every $50-$100 move in gold, he takes it as a slight against his personal TA. The dude is getting delusional, and is ruining the blog with negativity and whining.

      Yesterday he told Bonzo he was full of BS, stated Doc has been wrong on all his calls and was giving out the “wrong advice and hurting investors portfolios”, all while proclaiming how great he was, how amazing his calls are, and talking to himself in the 3rd person. “Glen works hard… Glen is #1… Glen has seen and done it all….”

      It’s pathetic, and the trolling is getting pretty obnoxious.

        b
        Jan 27, 2021 27:45 PM

        I guess I missed him saying who his target is.

        O ok, to each his own.

        To be honust all my calls are awsome too, I just never post them. šŸ˜‰

        Well, I have been right a couple times about 50%, has sumtin to do with the coin I flip.

          Jan 27, 2021 27:50 PM

          Ha! Good one b. I appreciate your posts, but if you start referring to yourself in the 3rd person and telling everyone else they are wrong then we’ll get concerned. šŸ™‚

          For goodness sakes, my goal was simply to post a gold chart and some support and resistance levels, and didn’t realize it was going to be so controversial . It had nothing to do with anything but price action. Oy vey…

          Jan 27, 2021 27:01 PM

          To each there own thatā€™s right b.. Donā€™t be baited into a history between me and him.

        Jan 27, 2021 27:17 PM

        Gosh, I missed what was said about me yesterday.

          Jan 27, 2021 27:22 PM

          >> On January 26, 2021 at 5:19 pm,
          Glenfidish says:

          Sorry bonzo,

          “Thatā€™s bs sorry! Your talking about a 1 and 100,000 chance of nailing a call. I donā€™t trade that way! Iā€™ve done it all bonzo and Iā€™m very successful. Use to think your way but you will learn it is the wrong approach. Iā€™m trying to respect what you are saying but you remind me off my younger days.”

          “My younger days was when I cared for drill holes or promises etc. The charts run with gold and regardless of holes they will run! There is the odd time they donā€™t but run they will donā€™t be a sheep.”

          Glen

            Jan 27, 2021 27:27 PM

            Bonzo, I had responded back to our all-knowing sage, and knew the exact point your were making with Eloro and Novo and the other explorers you mentioned that spiked suddenly due precisely to their exploration success.

            >> On January 27, 2021 at 12:32 am,
            Excelsior says:

            “That is the height of arrogance to brag about how successful you are, and to have the audacity to tell someone that has been successfully trading mining and oil stocks for decades like Bonzo that ā€ Iā€™m trying to respect what you are saying but you remind me off my younger days.ā€ What a colossal ego manic.

            Bonzoā€™s point was precisely right that about the power of sudden and major catalysts can absolutely spike or crater the share price in a tiny Jr company, often swamping any technicals on the chart that were there previous to that news breaking. This is much more so in the smaller exploration stocks that Bonzo was discussing.

            As mentioned above, once all that volume and pricing data from the news catalyst populates on the charts, then the TA becomes much more relevant again after the initial shock and awe of the news had been digested into closing prices for a few days, weeks, months.

            Not to mention, there are PLENTY of exploration stocks that ignore the underlying metals prices if they make a big discovery with the drill bit, or miss on a drill campaign. Those that ignore the fundamental news on the smaller drill plays, due so at their own peril.

            That was the main point it seemed like bonzo was making further up in the blog, and there was nothing ā€œyoungerā€ or wrong about it. The technical picture is always worth considering, but there are tons of examples every day of a news report spiking higher or smashing lower a smaller Jr out of nowhere, and it was not forecast on any chart.

            Again, after that new pricing data, that appeared suddenly in reaction to the fundamental news is digested, then the technical analysis, picks up from there with this adjusted data points, and revised targets.”

            Jan 27, 2021 27:38 PM

            Desperation= the act of trying to get anyone on your side for the purpose of your ego!

            This will be my last post to you as clearly the ignore button you mentioned above is not working because you have the history and tendency as you do when being proven wrong with Matt time and time again of always posting last cause your a child.

            Something must have happened to you when you were small that you feel the need for all the attention. If there is a board and 98% of that board is you flooding it you would think you have a sickness. To too it off itā€™s all cut and paste. I get a migraine every morning when I open the ker and see you saturated in it. Do you even sleep? You really have a sick condition of wanting to be heard or seeking attention. I know exactly the kind of person you are. I would hate to be in your life. My best advice for you is get some rest and move from the computer I donā€™t live in front of it but man you have baited me into this.

            My ignore button will work your done!

            I truly wish you the best and that you get help with your personality it wonā€™t be good for your health.

            Glen

            Jan 27, 2021 27:49 PM

            Ha! Whatever, I don’t need to get someone on my side garbage Glen, you are doing a fine job of insulting everyone on your own. I was sticking up for Bonzo’s decades of trading success, and supporting the idea he proposed that with the tiny explorers, it is the drill bit (truth machine) that is the prime mover, and there are examples every day of company news hitting that spikes or crashes the pricing, not forecast in the charts.

            It was a well thought out response and simply my perspectives trading dozens of exploration stocks for a decade, and posted so other investors could consider a different perspective. Of course, you missed that and it was lost on you because you think you know everything… and you said as much. Remember… you’ve done it all….Glen works hard. Glen is #1… our little narcissist.

            Hugs & Kisses.

          Jan 27, 2021 27:25 PM

          Bonzo,

          I disagreed with your views on p/e in your discussion with Matt. It was nothing personal just I didnā€™t agree. You can disagree with anything I post and I wonā€™t cry about it. The lad has a habit of saying I put others down which is not the case in my head. If I say something itā€™s because I may have not own perspective on things and different angle itā€™s always been that way for many years. Iā€™ve been here forever so donā€™t take things personal. I enjoy your post and have mentioned that to you in the pass.

          To each there own. People are becoming way to sensitive and maybe some feel like that about me.

          I wonā€™t say no more.

          Glen

    Jan 27, 2021 27:17 PM

    Paranoia, the unreasonable fear or irrational belief that other people are plotting to harm him or her. How can you spot paranoid people? They tend to obsess over other people talking about them. They believe there are no accidents or coincidences ā€” the cafeteria running out of fries just as they reach the front of the line ā€” just plans to hurt, embarrass, or otherwise bring them down.

      Jan 27, 2021 27:23 PM

      +1 That sums things up perfectly SilverDollar.

    Jan 27, 2021 27:03 PM

    “The Rules Are Changing” – Don’t Leave Money on the Table Investing in Gold and Silver – David Smith

    Cambridge House International Inc. – Jan 27, 2021

    “He investigates precious metals’ mines and exploration sites in Argentina, Chile, Peru, Mexico, Bolivia, China, Canada, and the U.S., sharing his views with readers, the media, and North American investment conference attendees. ”

    https://youtu.be/iBSWQHhWmNE

    BDC
    Jan 27, 2021 27:32 PM

    JDST may be hunting the 12.30 gap.

      BDC
      Jan 28, 2021 28:57 PM

      Nope. Max Saturation was yesterday at 12.01.
      Its earliest next MaxSat would be Wednesday.

    Jan 27, 2021 27:25 PM
      Jan 27, 2021 27:50 PM

      CEO Technician (aka @Goldfinger): Gamestop Trading Setups & Top Stock Picks 2021

      Soar Financial – January 25, 2021

      “Robert Sinn, the CEO Technician on Twitter & @goldfinger on CEO.ca joins us for an in-depth discussion of the current market sentiment in gold, silver & copper. We discuss setups like #GameStopā€‹, #Revlonā€‹ & #FirstMajestic”

      (Interview starts at 5:58 mins)

      https://youtu.be/y5mzuhV3ewA?t=358

        Jan 28, 2021 28:52 AM

        GameStop saga is about ‘working class vs hedge funds’: Reddit WSB user

        Ines FerrĆ© – Wed, January 27, 2021

        “Retail traders on WSB have been pushing GameStop share prices higher ā€” another 140% by mid-session on Wednesday ā€” while institutional investors who bet against the stock have been losing big time. On Wednesday morning hedge fund Melvin Capital confirmed it was forced to close its short position on GameStop.

        ā€œThere’s no evil coordination. There’s just a bunch of people who were buying GameStop. And that alone is destroying a multi-billion dollar hedge fund because they were that stupid,ā€ said Rossman

        @redditinvestors said, ā€œEveryone on WSB feels powerful now that they have destroyed a hedge fund and made a bunch of money. It is kinda like a community. I wouldn’t be surprised for more targeted attacks on short selling hedge funds.” (@redditinvestors says he bought GME shares at $4/each last year, and sold them at $10)”

        “Shares of companies like AMC (AMC), up more than 200% on Wednesday, Bed Bath and Beyond (BBBY) and even Tootsie Roll (TR) have also been targets of retail investors, causing short squeezes on names which have underperformed for some time. A short squeeze forces investors who bet against the stock to buy or cover their positions in order to forestall bigger losses, causing a rise in share prices.”

        https://cdn-ceo-ca.s3.amazonaws.com/1g155q8-Reddit-Fueled%20Sentiment%20Drives%20Certain%20Stocks%20Higher%20in%202021.JPG

    cfs
    Jan 27, 2021 27:25 PM
    Jan 27, 2021 27:02 PM

    Gold update!

    Gold getting rest to retest the lower levels. Double bottom test! For what itā€™s worth glen is seeing a very possible hard smack down overnight and into Friday. We could have a combination of a Friday blow off bottom and reversal or next week blow off bottom and reversal. Fact is we are close to the turn.

    Look for a move down to $1817-$1827 and a hold. Again I canā€™t stress enough something that has not been talked about in my tone, this smells like a shake out, walks like a shake out and talks like a shake out! Gold is holding strong but the metals are being manipulated down. Nothing we donā€™t already know!

    Iā€™m setup for a huge purchase of things donā€™t turn!

      Jan 27, 2021 27:56 PM

      > On December 29, 2020 at 8:48 am,
      Glenfidish says:

      ā€œWe would then head down to retest this breakout from here $1880-$1890 for 2-3 weeks. Which means nothing more then back filing, more of the same back and fourth for first 2-3 weeks of January completing the right shoulder. End of January explode out of that channel and attack all time highs and eventually break through.ā€

      ā€¢ [Glens target support $1880-$18900]

      ______________________________________________________________

      >> On January 5, 2021 at 11:04 am,
      Glenfidish says:

      ā€œRight shoulder formation back and forth whipsaw action should and may possibly go down to $1850-$1880.. imo of courseā€

      ā€¢ [Glenā€™s target support is changed from $1880-$1890, to $1850-$1880)
      _______________________________________________________________

      >>> On January 11, 2021 at 6:39 am,
      Glenfidish says

      ā€œWith my $1850-$1880 level breached nothing has changed. So they ran my numbers a few dollars which by the way for clarity I use gold price.com and not futures prices just my habit. So when I tend to give projections keep in mind gold price numbers.ā€
      ā€œWhat has changed? Price was over run but still from my lenses hanging in there.ā€

      ā€¢ [Glenā€™s target support was brokenā€¦ with eventually Gold going down to hit $1810, which invalidated the H&S pattern, but that hasnā€™t stopped him from repeatedly stating heā€™s nailed this and posting about the right shoulder for the last 2 weeks.]

      ā€¢ [It is clear that Gold is just in a normal corrective move, and yes it will eventually bounce, but it has nothing to do with an inverse Head and Shoulders pattern at this point.]

      _________________________________________________________________
      >>>> On January 27, 2021 at 9:02 pm,
      Glenfidish says:

      ā€œLook for a move down to $1817-$1827 and a hold. Again I canā€™t stress enough something that has not been talked about in my tone, this smells like a shake out, walks like a shake out and talks like a shake out! Gold is holding strong but the metals are being manipulated down. ā€œ

      ā€¢ [Glenā€™s target support is changed again from $1880-$1890, to $1850-$1880, to $1817-$1827] (notice a pattern here? He won’t accept market defeat)

      ā€¢ [Again, it is clear that Gold is just in a normal corrective move, and yes it will eventually bounce, but it has nothing to do with an inverse Head and Shoulders pattern at this point. That pattern was invalidated the first time Gold dropped to $1810, and it has been invalidated the whole last week]

      ā€¢ [Any more boasting that this is still being an inverse head and shoulder pattern, or that he nailed it are delusion.]

        Jan 27, 2021 27:06 PM

        The Futures Gold price is currently $1833.40 in overseas trading.

        https://www.investing.com/commodities/gold

        Jan 27, 2021 27:53 PM

        I mustve missed something here Ex as you seem to be dead against Glenfidish? Ive not kept up to date of late as to what has been said by who in terms of predictions but I thought Glens summarys were holding up well going into the end of last year and even the beginning of this year. However if those quotes of his you posted are legit then yes perhaps hes missed his target somewhat during this current grind. It is a difficult process nailing trends whether up or down. Im in your boat in that I want to see gold hold the November low. Even more ideal if Glens analysis plays out.

          Jan 28, 2021 28:08 AM

          Ok now Ive read through some of the posts in this particular segment and see the back and forth. Will leave it to you guys to sort it. Back to the PMs, there seems to be alot of fear out there at the moment that perhaps gold is ready to fall out of bed. Either this serves the often right contrarian perspective and the market moves against sentiment or the ” washout” is at hand and we see a solid beatdown in the coming days. I honestly dont know myself, possibly a toss of the coin?

            Jan 28, 2021 28:17 AM

            Yes, back to the PMs. I had posted this yesterday, and reposted it today as my take on the technical set up in Gold. It wasn’t directed at anyone, or for any reason, other than to just look at the set up and consider both the bullish and bearish case.

            ________________________________________

            Personally, Iā€™m invested for the bullish thesis and the eventual breakout, and have been actively trading in the markets the last few weeks, and moving money off the sidelines to increase my Gold Silver stocks exposure. However, Iā€™m cognizant of a number of technicians warning of more potential weakness, should Gold break down further challenging the low $1800s and worse the high $1700s, dragging the sector down with it.

            So while Gold has mainly channeled sideways between the 55 day EMA and 233 day EMA, Iā€™d prefer to see it stay above that 233 day EMA (currently at $1802.70), and definitely want to see it stay above that November trough low at $1767.20.
            It would be quite bullish to see Gold close above the 55 day EMA (currently at $1869.75), and even more bullish to see that happen on the weekly close.

            The Gold Chart I worked up below shows gold channeling between those 2 EMAs, and as pricing is piping sideways, the energy is building for a large move out of this consolidation.

            https://schrts.co/HUYZSqmP

          Jan 28, 2021 28:11 AM

          Ozibatla – I was intitially open to his unique technical thoughts, just like I’m open to anyone’s analysis, but not open to him trolling me and the insults or attacks the last few weeks, the spreading of lies about me, his constant sell-absorbed posts patting himself on the back while he boasts about himself in 3rd party, his attacking many of the technicians or the economic pundits I’ve posted as all “bogus”, his going after Bonzo or Doc yesterday and bragging about how much more right he was than them, that Doc was harming investors with his analysis, and his polluting the blog with negativity and garbage posts.

          ______________________________________

          The point above reading his own posts is very clear, the head and shoulder pattern that he has been stretching to claim the last few weeks clearly already broke down 2 weeks ago, along with all his targets and revised targets (that he incessantly brags about when gold crashed through them all down to $1810 the first time). He just won’t accept market defeat, so he is rewriting his narrative… it’s called a spin-doctor.

          Honestly, it would be to miss the call, because that happens, and nobody get’s it right all the time, but he went all in on this idea, and has been gloating constantly about how great his TA is. Worse he is constantly asking for recognition, and threw a fit about leaving (the first time he threatened it).
          He then was threatened by other analysts and threatened to withhold freaking targets of all things. They are only targets, and not nearly as valuable as investable ideas that are more often shared here.

          He then turned to asking where the respect is in the KER family for his #1 calls, (while hurling out insults and polluting the blog with negativity). Sorry, but his whole pattern is nonsense, and this is just a normal corrective move in gold, and it will eventually bounce, and it will not have beans to do with an inverse H&S pattern.

          Glen had targets of $1880-$1890, then $1850-$1880 (which was already a huge zone), then he admitted those targets gave way but insisted when gold crashed down to $1810 that the “right shoulder was still intact” but it clearly wasn’t. Now he comes out with another revised lower range of $1817-$1827, which in itself is confirmation that the inverse H&S pattern is failed. Watch, if we get a bounce at any level he’ll beat on his chest that he nailed it, and in real time. What he really did was move the goal posts in each update over time, and it wasn’t any call to write home about. It wouldn’t be such a big deal if he wasn’t so condescending about his TA skills (and hasn’t or can’t post any charts in all of his technical ramblings of “backing and filling, but will head higher soon.”

          __________________________________________

          Yesterday, when we had a great blog going with many different people contributing, he decided to go off again, with the insulting, and he really came apart emotionally, lashing out to insult any way he could. Whatever…. we’ve seen this same type of crazed behavior from others and we’ll see it again.

          Personally, I do my best to just share helpful investing information here, as I come across it in my research, in the spirit of this being a blog focused on investing and economics…. that is kinda the point of it all. It isn’t a gameshow called “Guess the magic number” and none of the dozens of inverse H&S posts he’s put up have made anyone here any money.

          For over a decade, I’ve posted breaking news on trending quality mining stocks, macro economic news, will often review strengths and weaknesses in companies in different sectors (Gold, Silver, Copper, Nickel, Zinc, Uranium, Lithium, Rare Earths), will post articles from macro economic pundits, other technical analysis, and simply discuss my own trades or market commentary (ironically often in real time, even though he keeps up a false narrative that it is all hindsight).

          Glen is the one constantly boasting while taking to himself in the 3rd party each day… “Glen has seen it all and done it all…. Glen works hard… nobody does it in real time like Glen…. nobody has been as right as Glen… Glen has had the #1 call”, and ironically accuses me of being narcistic for sharing investing information on an investing blog. It’s really warped thinking.

          Regardless, as trolls do, he then escalated the discord recently (in the last 2 weeks up until yesterday) insulting me as an A-hole, evil, narcissistic, a conman, and guaranteed to lose everyone money. (he is truly lost at this point, and those comments are way out line).

          Then Glen goes on to lecture us that other technicians, conference holders, and macro pundits that were shared are also all bogus, flakey, and can’t even make a penny, and indicated repeatedly that he is better than all of them… whatever that means and however he is keeping track of all humans individual success rates. I pointed out how ridiculous it was to state people, who had hundreds or thousands of subscribers paying for their services, analysis, or conferences were doing so because everyone is losing money, but he rails on.

          All we’ve heard from him for weeks is how he is nailing it, the best, and the only one that can do it. Yesterday was post after post of complete garbage from Glen all over the blog, and it didn’t offer investors any helpful information and was the very evil, narcissist, venom he seems to want to judge in others. It definitely had no place on the blog.

          ___________________________________________________________________

          Here are just a few winning comments he made to me yesterday, and it was just 1 day…. he’s been doing stuff like this for weeks now.

          On January 26, 2021 at 9:24 pm,
          Glenfidish says:

          “Sorry shad,”
          “May I add that my inverse head and shoulders formation was called way before you were a puppy or even dreamed of being valid young boy! You could never hold my jock, so keep tutting your horn and cutting and pasting. Maybe fir a change learn to think for yourself and apply even the most common sense in charts or patterns.”

          “You have not the clue. My BFF all remains valid and everyone here not named shad knows they are so stop trying to be a typical little brat kid…”

          [wow, what great content for an investing board]

          > On January 26, 2021 at 9:43 pm,
          Glenfidish says:

          “Moving forward I wonā€™t respond to his behaviour or childish videos because that just feeds his ego of continuous Bollywood behaviour lol.”

          [of course he’s continued to troll me all day]

          > On January 27, 2021 at 5:40 am,
          Glenfidish says

          “As mentioned before we are in a very fight in this world with left minded, socialist Marxist thinking that believe they can shut you up, take your voice or expressions of freedom away and paint you into believing Iā€™m the bad guy. It is sickening through his words and is exactly what is happening.”

          [Now he’s pulled out a last ditch attempt to label me as socialist Marxist, not dissimilar from how leftists use the same technique of calling people racist, sexist, xenophobic, etc… to silence them. These comments are his internal demons withing being projected onto others. It is quite normal to see paranoid people judge in others what they hate about themselves. Sad.

          Despite that I mentioned several times his TA is fine, but the huge ego, and tearing everyone else down on the blog isn’t. He takes that to mean I’m trying to silence him. He is fine posting garbage on the blog, but I post actual economic and relevant info, that may give investors tradable ideas, he sees it a polluting the blog. His priorities are wacko and counter to the point of the blog in the first place]

          The vast majority of my posts for weeks have been in the effort to share information on macro economics, sector news, breaking company news, technical analysis from other pros (that donā€™t have nearly your ego), and videos of interviews and mining conferences.

          If he feels those contributions (which actually could make investors money or at least have them better informed) are childish or lack value, then he can just scan on by them, but”

          He also keeps repeating a lie that I “had the audacity to call Matt just the other day a troll.”

          >> On January 21, 2021 at 8:00 pm,
          Glenfidish says:

          “ā€œI tried to share things with you guys from my heart but this narcissistic personality said something last week that put a dent in me by calling Matthew a troll!! Lost all the respect in the world for him. He couldnā€™t hold my jock yet alone matthews charts. There are people whoā€™s Evil or Vernon is professed in there words and talk and you will clearly see it with constant jabs and opinions and jealously.ā€
          ______________________________________________________
          I responded back with the actual truth:

          “Just to clear up Glenā€™s lazy reading or comprehension issues on this post, that ā€œput a dent in himā€. Matthew and I were discussing a completely different poster over at ceo.ca named @11.

          I mentioned that @11 guy was trolling me and also was insulting both Matthew and Doc over at ceo.ca, and calling all those over at the KER losers. I mentioned that I had stood up for both Matthewā€™s & Docā€™s characters and that this @11 guy was eventually kicked of ceo.ca for being an ass to all the other contributors, for being combative, and for thinking his TA approach was the only one to have. Boy that sure sounds like someone else here doing the exact same thingā€¦

          So no Glen, you got it wrong once again, and are telling lies. I hope youā€™ll work on being better, but you are on the same dark path @11 was on over there]

          ______________________________________________

          Today I revise a post from yesterday on the 55 and 233 EMA resistance and support I see on the Gold chart, and unlike him, actually posted a chart showing what I was discussing. For some insane reason, he takes this as a personal slight, thinks it had something to do with him (it clearly did not), and has been getting uglier all day. Up above he has resorted to more garbage posts like this, when I mentioned my elderly parents both have covid-19, and my mother was rushed as an emergency to get the blood serum antibodies, because she has Cancer in remission, and takes intense immune suppressors because she has Crohn’s disease.

          >> On January 27, 2021 at 8:55 pm,
          Glenfidish says:

          “Proves my point that ex or formerly known as shad is a leftist idiot and wonā€™t go to bed but Iā€™m ok working overtime to help sooth his narcissistic ways lol..”

          “Fact is shad= believes in covid dumb idiot”

          ________________________________________

          So again, if anyone is posting garbage on the blog it is Glenfidish. I wish he’d clean up his act, quit insulting people, and if he feels it necessary, tell us every single day about his pet theory of an inverse head & shoulder pattern.

          It is crystal clear if you read his own words posted up above about his moving goal posts from $1880-$1890, to $1850-$1800, to those levels failed, to now a new range of $1817-$1827, that the inverse head and shoulders pattern failed.

          Again, we are in a normal corrective move that has dropped $160 at one point, and that is not a right shoulder. Yes, eventually Gold will bounce and move higher, but it will have nothing to do with his inverse H&S narrative, and he has far from nailed it. Again, it wouldn’t be so bad if he hadn’t been chastising all the other technicians analysis and beat his chest about it every single day.

          I responded back yesterday the same way I would today:

          > On January 26, 2021 at 7:59 pm,
          Excelsior says:

          “Iā€™m sorry to have had to air that out on the blog, because I despise these kinds of posts, but I’ve ignored multiple negative posts coming from you for weeks now, and enough is enough. A response was warranted when you went after Bonzo and Doc, in addition to myself, Gary Wagner, Gary Savage, Goldfinger, and all the other technicians people post info from here (Ira Epstein, Jordan Roy Bryne, Christopher Aaron, Patrick Karim, Northstar, etcā€¦), and information shared from the quality investing conferences.”

          “I’m hoping you pick the high road moving forward, but will have little sympathy to any more sob stories of leaving or how you deserve more recognition. Be the best ā€œGlenā€ you can be, and if you donā€™t like something else, then scroll on byā€¦

          “And donā€™t go threatening to leave for the 4th time and blame me for finally responding to your negative posts. If you want to leave, then leave, if you want to stay, then quit tearing others down, attacking others in posts, and try to offer something of value in your posts.”

          Jan 28, 2021 28:55 AM

          Hi Ozibalta,

          Carefully with the con man everything that has been posted is used in a manipulating manner. Everything that is posted was mentioned step by step before the facts and before the targets moved to those numbers. You guys all know that Iā€™m real time and This dumbass is the one who trims after the fact, nibbles before the facts and sells after the fact. He has a perfect record lol. The only record he has is he is a sour puss after my calls which have been bang on for over a year yet ā€œ he canā€™t handle itā€ and like a leftist con he is engaging in policing the ker and turning it into no freedom is speech and only him him him.

          As you all know clearly I have changed my targets to adjust the right shoulder and my targets and calls have been closer then anything he could Imagine including the latest top nailed. Everyone in here thanked me that day and was so supportive. The one shill that didnā€™t was him and from that moment forward he had an agenda with me that Iā€™m of no value, I post nothing Iā€™m garbage glen. Blah blah blah

          My inverse head and shoulders formation is bang on and he canā€™t live with it. For him a drill hole pending is of much more I pittance but for me calling that right shoulder and allowing for all of us to understand that this Intermediate cycle is possibly completed which would mean breaking back up and attacking that neckline. That movement would put the shares much higher then they are today while he can hold the bag on a drill result of which those same stock would go up anyways.

          The lost above only show the targets and spoke about them before they happened to let you know the pattern. The latest pattern does show if we move again down $1817-$1827 is a line of defence I would like to see held for the right shoulder.

          Hope this helps and thanks for your praises

            Jan 28, 2021 28:26 AM

            No Glen, the only con going on here is your desire to keep calling a failed inverse head and shoulder pattern nailing it.

            – You’re initial target of $1880-$1890 failed.
            – You’re revised targets and huge range of $1850-$1880 failed.
            – Gold went down and plumbed $1810, invalidating the reverse H&S pattern as failed.
            – Instead of admitting market defeat, you press on with this silly weather forecast, and claim that you are nailing it.
            – Unwilling to give in, you now out with a new revised range of $1817-$1827

            Look Gold is in a typical corrective move, and eventually yes, it will bounce, as all markets do, but it won’t be because of this BS inverse H&S pattern, we left the potential of a right shoulder weeks ago, and you have nothing to beat on your chest about as all those calls were missed. Deal with it, and move on.

    Jan 27, 2021 27:17 PM

    Gold & Silver Price Update + Federal Reserve Meeting

    iGold Advisor – Christopher Aaron – January 27, 2021 #TechnicalAnalysis #VIDEO

    https://youtu.be/3y6lwXR4hbw

      Jan 28, 2021 28:53 AM

      Ira Epstein’s Metals #Video (01/27/2021)

      #TechnicalAnalysis – Gold, Silver, Copper, Platinum

      https://youtu.be/S01YROhqXIQ

        Jan 28, 2021 28:57 AM

        Patrick Karim @badcharts1 on Twitter 4:57 AM Ā· Jan 26, 2021

        “Had the honor of spending some time with Patrick Vierra from SilverBullionTV. Talked silver technicals and why I’m STILL hugely bullish!”

        ________________________________________

        Patrick Karim: Silver’s Mega Cup and Handle Move Since the 1980s Begging to be Fulfilled

        Silver Bullion TV – Jan 25th, 2021 #VIDEO

        “We are joined on Metal Money by Patrick Karim, veteran chart trader and founder of Badcharts.com. The chart pattern that excites Patrick most has been the multi-decade cup and handle move in silver that is begging to be fulfilled.”

        https://youtu.be/R9LcN_uVGa8

          Jan 28, 2021 28:59 AM

          If OOTB sees this…. You’ll love it. The Cup & Handle is begging to be fulfilled.

          The cuppeth runneth over… šŸ™‚

            Jan 28, 2021 28:02 PM

            Jerry…is in the KER jail…again…but he said he saw it…on the jail telly…can you bake a cake…with a file in it???

    Jan 27, 2021 27:58 PM

    Hey Ex, I don’t know whether you saw this news release 2 days ago from Turmalina Metals Corp. V.TBX Turmalina Intersection of 72 m @3.47 % Cu, 100G/T Silver and 0.71G/T Gold.

    https://stockhouse.com/news/press-releases/2021/01/25/turmalina-intersection-of-72m-at-3-47-copper-100-g-t-silver-and-0-71-g-t-gold-5

      Jan 28, 2021 28:13 AM

      Thanks DT. That 72 meters with Copper/Silver/Gold is quite the nice drill intercept.

      No I’m not familiar with Turmalina, and appreciate you bringing up something relevant to investing. It is quite a refreshing break from some of the other nonsense on here today.

      Much appreciated.

    Jan 28, 2021 28:37 AM

    Peter Spinaā€™s 2021 Forecast and Top Stock Picks ā€“ Gold and Silver Miners

    Cambridge House International ā€“ Jan 26, 2021 #VIDEO

    ā€œHis experience with the precious metals markets started back in the mid-1990s, which led to the creation of GoldSeek.com in 1995. Today GoldSeek.com ranks within the top, most-visited gold investor websites in the world with a 250,000+ global monthly reader outreach. Its sister site, SilverSeek.com, is ranked as the most visited silver website in the world recently reaching 100,000+ monthly silver investor readers.ā€

    ā€œWith over 15 years of experience with investing into gold and silver mining companies, Peter devotes much of his time researching, consulting and investing into gold and silver stocks with a primary focus on micro-caps.ā€

    https://youtu.be/zGr6Li0nLHk

    Jan 28, 2021 28:41 AM

    Silver Cloud spinout will be a dividend for (BRC) (BKRRF) Blackrock Gold

    Cambridge House International ā€“ Jan 27, 2021 #VIDEO

    https://youtu.be/eHSg6HFqAaQ

      Jan 28, 2021 28:44 AM

      (RSLV) (RSNVF) Reyna Is Drilling for a Large High-Grade Silver Mine in Mexico

      Cambridge House International ā€“ Jan 25, 2021 #VIDEO

      https://youtu.be/3Rwj-QfzZYk

    Jan 28, 2021 28:43 AM

    Wow, alot has gone down here of late. Ohh well you cant please them all. And by no means is that directed at anyone in particular just a generalisation. A side note: The general PMs markets and miners suggests to me that the 233day EMA in gold is a possible play in the coming days.

      Jan 28, 2021 28:47 AM

      That about sums it up. I’d much rather just get back to talking mining stocks, macro economics, and about the various sectors we can actually invest in and make money.

      Yes, agreed on the 233 day EMA as shown on the chart posted above in the thread with your gold comments.

      Cheers!

      Jan 28, 2021 28:07 AM

      This is correct ozi a lot has happened and itā€™s always good to go with what you feel and how my post in real time was helping others as well as me. It is normal in charting that numbers are moved but like you said being a smart man, the overall consensus or glens vision must remain Intact even as numbers are adjusted as long as the adjuster explains why and it continues to make sense. In his blinded eyes he done see the right shoulder and it does not exist. I have not ruled it out or have I ruled out one more drop. He is a con artist at twisting things.

      I donā€™t have the time and in my life to do what he does go back a d cut and paste thatā€™s his forfeit for his ego but what would it prove?

      That when gold sells of he ā€œ had been trimmingā€ again after the fact!

      And when gold goes into a deeper correction quickly ā€œ he is now 50% cash really.. When did heā€™s sell he said he trimmed. And when gold turns and goes much higher. Notice he always bought at the precise bottom. Never once offering any mentions in teal terms but cut and paste.

      Do yourself a service put me on ignore and stop trying to do what leftist socialist do at putting down others with no facts and turning peopleā€™s lives into misery.

      Wonā€™t happen here.

      Glen

        Jan 28, 2021 28:11 AM

        What is going on between yourself and Excelsior is best left that way in my eyes. Heres to hoping that shoulder holds, if not at least $1800. A nice pop in gold as I speak. See what comes of it.

          Jan 28, 2021 28:25 AM

          Ozibalt,

          Fair enough! Your absolutely right.

          As you mentioned letā€™s see if this holds or if we break lower. Best luck to you my friend.

          Glen

        Jan 28, 2021 28:08 AM

        Glen – You are truly lost, on so many areas, it’s hard to know where to begin.

        If anything is bogus and false around here, it is your attempted put downs that I’m now suddenly a leftist socialist, cut & paste and after the fact call person…. or whatever BS you are spewing again today. What a true nut job you have become.

        I’ve been posting here at the KE Report for over 11 years, almost every day, and my track record and comments are all there (real time) for anyone to see. Unlike you that would go missing for months or sometimes most of the year, I’ve been here each day contributing, from bull markets, to bear markets, and back to bull markets, and I’ve always posted on this economic forum for the reasons it was started for – to share investing idea, company ideas, trade setups, and to discuss what we’ve invested in.

        There is a history of over a decade of people writing to thank me for the “cut & paste” economic articles, technical analysis, charts, company news, video interviews with mining ceos, videos from most of the major mining conventions, and that has all been paired with my on thoughts and trades on the sectors, the companies, my TA, and my macro thoughts. The fact that you have neglected to read or review all that info, is your loss, and your choice, but it is a laughable to simply distill down all information shared to merely “cut & paste” bogus, info where nobody is making a penny. Any critical thinker would realize this in just a few days of the information distilled and shared.

        In the past, I’ve shared hundreds and hundreds of posts on my TA, my personal trades (in real time on the days I traded them, often within an hour or 2 from when I placed the trade), something I’ve never see you do with your paltry list 4-8 stocks, some of which you keep “secret” for some funny reason (like you have some hidden gem nobody knows about). Look the reason you stocks haven’t pulled back much lately is because you are in boring lifeless stocks that also didn’t rise much either like Compass Gold and IAMGold, hardly winning any prizes for being the best stocks to own.

        In contrast my portfolio has ranged from 60 – 100 stocks, across Gold, Silver, Platinum, Copper, Nickel, Zinc/Lead, Uranium, Lithium, Clean Energy, Specialty Metals for years, and I covered the company and sector news in all of those areas of the resource space, provided my diligence, answered investors questions to the best of my abilities, and really enjoyed the dialogue with so many different investors (most of which thanked me for my time and efforts).

        Glen, in January my portfolio was up over 400% just since the March sector lows, and despite this recent pullback in January, is still up 370%. Sure, there may be folks with better returns than that, who risked it all on just a few concentrated positions, but those kind of gains on a portfolio of my size, are fantastic, and don’t require your validation. Those kinds of gains, simply crushed the returns that most investors get in the general stock indexes, in bonds, and in the resource sector, and I’ve been at this a long time, learning, sharing, and succeeding, where many failed and were left for dead along the journey.

        Over all these years I’ve transparently share my entire portfolio many many times, and often have discussed the exact series of dates I bought/added or sold/trimmed these shares. I make about 3-10 trades per day, so I’m not going to post on every single day, but lately I’ve included summaries of what I bought or sold, and if you went back and read the KER threads for the last few years, you’d see all those trades discussed daily, in real time. Sure, there were bad trades mixed in with good trades, and I noted when I had to cut losses on a trade, when I won big, or where I was just scalping profits on a swing trade, and often included the percentages as they happened, real time you ding dong.

        As for TA, I could go dredge up all the times folks have thanked me for nailing turns at tops and bottoms, for catching extensions or retracements, for getting the trend correct in a sector, stock or ETF, or the specific targets were achieved. (including you dozens of times if you remember, before your recent campaign of hate and insulting began) So, I hardly need your approval, and have a much longer track record of getting it right with TA on this site, than you have even scratched the surface with in your recent arm waving and constant pricing revisions in your failed head & shoulders pattern.

        Glen, unlike you, I have the satisfaction of years of thank yous and appreciation from contributors here, both on the blog and featured speakers, and as a result don’t need to grovel for recognition like you have done week after week. I don’t have to ask stupid questions like you did of “where is the respect from the KER family on Glen’s #1 call?” I’ve been too busy, actually trading the markets, making money, and the appreciation was earned through sheer hard work, and my desire to help other investors, share quality information, answer questions as they are posed, and also in congratulating others on their successful trades and growth as investors.

        There is no need for me to pat myself on the back repeatedly like you do daily, or refer to myself in the 3rd party like you do, which is it’s own special form of narcissism. In fact, other than discussing my own trades or thought on the markets, I rarely inject myself in the posts, unless I have blog troll like you coming at me making false accusations, and spreading lies, and the facts need to be daylighted. Other than that I post helpful information and take the wins and losses as they come, but haven’t had to grandstand when I’ve made a 3 bagger, 5 bagger, 10 bagger, 15 bagger, etc… That’s the thing you will learn over time, humility. (at least I hope you will learn humility and spare us all from your constant self aggrandized cheerleading).

        As for your leftist socialist attempted put downs, they are just too ridiculous for words, especially after I’ve shared on the KE Report so many hundreds of posts on conservative thought I’ve posted from Austrian economics, to fiscal responsibility, to anti-big government, anti-censorship, anti-collectivism, anti-tribalism, anti-wokeness, and focused instead on personal rights and individual liberties. Just 2 or 3 days back I was posting Ron Paul videos you ding dong, not something many leftist socialists would be doing. šŸ˜‰

        Glen, I simply pointed about above, in your own words, the slow death and constant revisions of your recent Head & Shoulders posts [where you don’t even post charts — yeah what a TA superstar… or startup is more like it]. You blather on more about about how you feel things will go, or “what Glens eyes see” and other such bull$hit, blaming things that go against you on manipulated prices, or shakeouts, or “back and forth” or “getting ready to move.” No Glen, those comments aren’t helping anyone make money, and that is just your mental delusion. We all like your targets, and many have mentioned that, including me, but that is all you do is throw out a few ever changing targets (meaning your last targets failed); and then you go beat on your chest about mere pricing targets as the only “substance” around here, negating all the other comments and content other share as not important.

        No Glen, unlike you I don’t need to justify my contributions or seek approval, or where the respect is from the audience, or whine for more substance, or whine for more recognition, because there is a back catalogue of substance. Where you were gone for months at a time, or it seemed like years at a time, I was here every day sharing economic articles, sharing breaking company news, sharing sector news, sharing sector watchlists, sharing many perspectives and disciplines from TA from many pro technicians with far longer and better track records than narcissist Glen, sharing helpful interviews with CEOs, interviews with market pundits, and topping it all off my personal insights, my personal trades, and having conversations with the other contributors here, which is the whole point of an economic forum.

        Glen, your posts are fleeting like weather predictions, and you’ve been a one-trick pony for months now with your Gold updates. It is nice for what it is, but I never think about it when I’m placing my 3-10 trades per day, and it is isn’t making investors any money. Most bullion stackers have been dollar cost averaging in, or just buying the dips without a need for your TA for many years or decades, since before you were in diapers. (well by the sounds of your constant whining, you still may be in diapers). They don’t need your PM weather reports for that.

        In contrast there have been plenty of savvy investors here over the years making contributions or discussing sector trends or stocks to watch (the actual things we trade that do make us all money), and I’ve been right there in the mix with the community here, day in and day out. I do consider the companies and trade setups mentioned by contributors here like Marty, Dan, calgary, Matthew, David, DT, Charles, Thomas, SilverDollar, b, Ozibatla, Pete, CFS, Buzz, etc… and also appreciate the macro comments from long time posters like OOTB, IrishTony, Ebolan, etc…. In addition, I actually read the articles I post, listen to the audios or videos I post, and listen to all the daily editorials here at the KE Report to all the pundits, companies, market pros, technicians, and macro experts that come on here to share true wisdom…. not just weather report. Their thoughts and insights have made me a better investor here, and their insights or company picks do cross my mind when I trade, and that is the real treasure that is the KE Report.

        I frequent other sites, and am very active over at ceo.ca and they have another great community of investors, and I pop on SeekingAlpha from time to time, have been gifted access behind paywalls to other communities to share idea, have been invited into private communities on specific stocks or sectors and mixed it up with some incredibly savvy 7, 8, and 9 figure accredited investors. It’s about building a community, building a network of colleagues, sharing great ideas, hashing out strengths and weaknesses in companies, and ultimately talking about what you are going to put your capital in.

        Conversely, I’ve also seen plenty of blog trolls just like you before come and go. They always get emotional, always have delusions of grandeur, always make it personal hurling insults and attacks, and always make a mess out of forums where ever they go. Please don’t go any further down the troll path Glen, as I still believe you are better than that. I really am done interacting with you, until you decide to be more civil, professional, and a community member. Honestly, I ignored a lot of your garbage for a long time, and wouldn’t have responded if you weren’t becoming a blog mosquito, and raising the levels of your ire, insults, and petty put downs to the point where a response was necessary. Quit invoking my name in your posts, quite targeting and attacking me and others, and I’ll be happy to put you on ignore. Post your numbers and targets, and go out and spin your wheels trying to play “guess the number” and be the best Glen you can be, but you don’t need to keep dragging me into your posts or make insults to provide your weather forecast. Just give us the forecast without all the chest beating, recognition seeking, and attacks on others. If you don’t like the content that other post, which they find important or they wouldn’t post it, then just scroll on by…

        I hope you find peace, and despite all of your ugliness and immature name calling, I still wish you success in your trading, like I wish for all investors.

          Jan 28, 2021 28:35 AM

          After your first paragraph I didnā€™t bother to read as it is clear Iā€™m only feeding a child Narcissistic at hand with his me me me! Cry me a river.

          You belittle yourself with your anger and I get a good chuckle at how sad if a case you are and how I have exposed your real side when things donā€™t go your way.

          My portfolio is much smaller in terms of companies and I donā€™t trade 60 companies to blow my horn and feed my ego lol making penny change on them.

          No matter what you say or write wonā€™t change what I think of you. I always have you the respect just for being here a long time but Iā€™m reality you have always been flaky with your calls ā€œ and many in here know what Iā€™m talking aboutā€ and with your approach. Your nothing special so bash me all you want but not indecisive and I make bold confident calls and have been doing very well for it. I donā€™t need to make 60 trades a day to make a buck. I prefer to have some sanity but to each there own.

          Everything you toot your horn about is discredited by your jargon and emotional serial posting..

          For all the contributors here I truly apologize for you guys having to see this and putting up with both of us. Iā€™m not and will not play victim. I donā€™t have any need or issues with anyone in here at all. This has become a soap of which I already know he will write up another poem and for the respect of all of you despite him trying to tarnish who Iam I wonā€™t respond and I will be the person.

          I will continue to post no one will try and chase me away this is the fight we have today Iā€™m this world and itā€™s real.

          Glen has been making contributions for many years and I believe some of you see me as an asset as I see you guys..

          So no more back and forth and if he does post I would wish for some of you to not join the baiting or stupidity that will come with it. Itā€™s done and over. He is on my ignore and hope that he does the same to me but also does not bait me after any post I do. Just a heads up!

          Cheers to all

          Glen

    Jan 28, 2021 28:50 AM

    FOMC Preview: Fed Chair Powell Faces This Tough Question – Axel Merk

    Stansberry Research – Jan 27, 2021 #VIDEO interview

    “The two-day Federal Open Market Committee (FOMC) meeting concludes Wednesday with Fed Chair Jerome Powell’s press conference. Our Daniela Cambone speaks with Axel Merk, founder of Merk Investments, about what to expect from the central bank and whether they will maintain their dovish stance. Chairman Powell faces this tough question: is it a better strategy to provide more or less communication on the Fedā€™s asset purchase program? “Spending trillions has become the new normal,” says Merk. The Fed is expected to hold rates at near-zero as the economic focus shifts to the vaccine rollout and President Bidenā€™s efforts on further stimulus.”

    https://youtu.be/5ciVqBFTruc

    Jan 28, 2021 28:17 AM

    EX,
    A TA guy I follow said he just sold out of 100% of his PM potions that he bought in early April of last year. He worries that another downdraft coming. I am considering taking 35% off the table here and letting the rest ride in case this noise, real or imagined, is a Major bear trap. Am I nuts or would you pull more off the table now? I am 85% invested in my PM portfolio.
    It seems nearly EVERYONE is EXtremely BEARish on several corners of the net. I guess ultimately, it depends if the USD finally gives up the ghost and drops to its next and much lower support-line or if it has another dead-cat rally that thumps the PM’s hard and shakes out the rest of the late comers.
    Any thoughts on this would be appreciated. This is a perfect place to have a bear trap as the downside-fear is palpable and ubiquitous!

      Jan 28, 2021 28:50 AM

      Was 36% cash @ 7am this morning, by 9:50 I was 43% in cash, by 10:52 I was 29% cash. Best trade sold 340 shares of AG @ 20.66; bought 500 AG $16.15. Sold 5K Reyna @.90

        Jan 28, 2021 28:13 AM

        Good trading as per usual Marty, especially that First Majestic trade. Also that was a nice scalp in Reyna, and we had just talked about that one. I’m still holding and accumulating my Reyna position, and really want to see what they do with exploration this year and if they hit with the drill bit with legend Peter Megaw there as a technical advisor. I’ve been deploying more and more dry powder the last 2 weeks, and decided to move over some cash from deep storage to pounce on more weakness as the opportunities show up in this corrective move.

        Cheers!

      Jan 28, 2021 28:17 AM

      I have never been good at knowing when to pull back. Unfortunately, my miners have gone down for 6 months since July and I really am not in the mood for a correction of a correction. I have taken most all my gains except Great Bear but those gains came during some other correction of miners. I guess I am stupid, but Tony Fibranoche correction is not favorable for another hit.
      On the other hand, market insiders are probably very upset about being screwed on their corrupt naked short losses and may lash out at honest people to demonstrate cheaters always win. Or only the strong insiders will inherit the earth. I pass on having any clue which way miners will go. My Life Experiences tell me they always go down because the PM markets are rigged. But all markets are rigged. That is about as negative as I can think.

        Jan 28, 2021 28:21 AM

        While I was typing my rant, todays gains were reduced 30%. I wouldnā€™t be surprised if they walk my account negative today…because they can.

      Jan 28, 2021 28:48 AM

      Hi confused. I have mentioned over the last few days (and weeks really) that I’m cognizant that there could be more market weakness in the PMs as many technicians have pointed out as a potential path lower, but I’m invested for the bullish case.

      Yes if the dollar rises, or much more importantly if interest rates keep rising, and if other asset classes continue to rally higher, then these will all be headwinds for the Precious Metals. However, as more debt is piled up with governments racing to do more stimulus, more intervention, and more bailouts, and central banks keep monetizing this debt, it only underpins the case for hard money without counterparty risk. As for the biggest threat from rising rates, the FED is and will continue to control rates, and won’t let them run too hot or the whole system will come collapsing down. Inflation is heating up, and has been running much hotter than official government figures, and most importantly, real rates are still negative and will remain so for the foreseeable medium to longer term.

      When everyone gets too bearish, that is typically a cue to start getting bullish.
      When everyone is thinking of folding up shop, that is the time to open up a new shop.
      There is always a risk in the market on any day of trading, but buying weakness in a longer term bull market will eventually be rewarded as the bull will march on, shaking as many riders off its back (bulls and bears alike) and inflicting the most pain, like it does every time.

      Last year when the selloff started in late February and really escalated into the mid-March sector lows, everyone was talking of cashing in and running to the sidelines, and I had repeatedly posted about buying with both hands, and was amazed at how many quality companies were on fire sale, and shocked/surprised, that so many supposed contrarians were really nothing more than herd animals, cowering in cash. To be clear there is nothing wrong with cash, and personally, I’ve never had such a large cash position but that is from the last few years of my personal savings regiment, liquidated part of my retirement fund through the Cares Act without the penalty, and the sale of our home. In my trading account, that I discuss here on the KER, I sold some winners and losers in December to raise funds, then trimmed more back in early January, and have taken some gains in Uranium, PGM, and Lithium stocks over the last few weeks to raise more funds. However, I’ve been plowing those funds back into this recent weakness, and have already posted each day on which companies I was putting that capital to work in (an real time no less) šŸ™‚

      I personally see this as a time to be accumulating weakness and putting capital to work, but had personally already built up cash reserves for when this rainy day came. Now that it is here, I’m happy to buy back positions I trimmed at much higher levels, happy to have initiated some new positions, and am ready to buy more if the weakness continues.

      I’m a big advocate of having some funds to the side as dry powder, but everyone needs to decide for themselves what that percentage should be. For a long time I had 2-8% and often have been extended on margin if my conviction is really there for a move higher. Over the last few months, in my trading account it has fluctuated between 10%-18% funds available, but I’ve taken that down to about 8% left at this point. If things have a swan dive lower, then I’ll deploy almost all of that, because I have personal cash reserves on the side I can access if need be.

      Nobody can advise someone else what to do, as we all have unique financial situations for our own families, unique risk tolerance levels, unique goals for investments, and different knowledge and skillsets. All anyone can do is analyze the lay of the land and speculate and accumulate during good risk/reward setups. Personally, I’ve been buying the last few weeks as things have pulled back and I’ve accelerated that buying at the end of last week and this week. We’ll see how it goes…

      I think you nailed it with your last statement of this being a perfect place for a bear trap, as the fear is palpable, but remember Warren Buffets advice of being greedy when others are fearful, and fearful when others are greedy.

    b
    Jan 28, 2021 28:49 AM

    NASDAQ temporarily shuts down stock trading after internet trolls destroy hedge fund with GameStop stock
    27 Jan, 2021 18:05 / Updated 18 hours ago

    This is a good story.

    The robin hood retail traders have figured out how to screw wall street.

    b
    Jan 28, 2021 28:51 AM

    Trading app Robinhood SHUTS DOWN GameStop stock, after Reddit traders embarrass Wall Street

    https://www.rt.com/usa/513920-robinhood-gamestop-gme-amc-shutdown/

      Jan 28, 2021 28:19 AM

      It is quite a spectacle. Further up in this blog I had posted some similar information and an embedded chart showing how the retail investors have short squeezed the hedgefunds into massive losses. Win one for the little guys for a change.

      There was also a good video interview with Goldfinger / Ceo Technician when he appeared on Soar Financial where they got into this rise of the retail mobs. On one hand it is untamed speculation in garbage stocks like Hertz, Kodak, GameStop, etc.. but on the other hand, it will of course end badly and there will be many bagholders, just like in any parabolic blow-off move to ridiculous valuations.

      The droves of new retail investors, organizing in blocks through Robinhood, TikTok, Reddit, etc… have become a true force to be reckoned with, and it is changing the power dynamics with the hedge funds and institutional shorts, until they got squeezed and filled their shorts the last few days. You gotta love it!

        Jan 28, 2021 28:28 AM

        +

        Jan 28, 2021 28:47 AM

        Those retail investors got help from the setup and probably don’t realize it. I pointed out two days ago that a sharp move up OR down would not surprise me and we got both. Which is perfect. I can’t remember the last time such volatility looked so probable.

          Jan 28, 2021 28:05 PM

          Yes, it was the perfect storm of an ideal spot for a big move either direction, and then a concentrated effort across tens of thousands of retail investors to squeeze the shorts. Epic.

          Even with the good set up, there is no way companies like MUX would have jolted up 34% today, if it wasn’t for the epic short squeeze though. This is glorious action and finally the retail mobs have found the very oversold and over-shorted mining stocks. I love it!

            Jan 28, 2021 28:40 PM

            Re: “Even with the good set up, there is no way companies like MUX would have jolted up 34% today, if it wasnā€™t for the epic short squeeze though.”

            The great setup was perfect for such a short squeeze, that’s the point. That’s why I mentioned the chance at a big move up two days ago. Sentiment was right and so were the technicals.

            Jan 28, 2021 28:34 PM

            Ex,
            I finally now know! I am a “contra-indicator.” Luckily, I had a doctors appointment and didn’t sell anything this morning. I had several gains in the teens and my MUX ripped! Lucky I had that important distraction! Thanks Doctor! With all that said it could go to hell-in-a-handbasket next week or two. Anyway, I think it is best for guys like me to not get cute and stick to playing it “old-turkey-style”:)

            Jan 28, 2021 28:39 PM

            Yes, I saw and agreed with the good setup and things were ripe for a big move, but my point was today’s action and concentrated move by the Reddit, TikTok, Robinhood vigilante investors was targeted against the larger more liquid names that had really big short positions like MUX, AG, HL, CDE, EXK, etc… and wasn’t across the whole sector and didn’t hit most of the larger Canadian listed Gold producers like it hit some of the Silver stocks with dual-listings, that some of these platforms need to be able to trade. If it wasn’t for that huge catalyst of reatail mobs, in search of short squeezes, purposely targeting the heaviest shorted stocks, then MUX would not have moved up 31%-34% during the regular trading, and then another 7% in after-hours trading. I must tip my hat to the retail mobs coordinated effort, because this was an epic short squeeze today. Fun times for sure.

            Jan 28, 2021 28:48 PM

            Confused – Haha! Thank goodness for that doctor visit then. Yes. That was my point above about being smart about when to harvest gains to raise funds, and when to deploy them into souring sentiment like we’ve seen recently.

            Yes, in a bull market, if one has some dry powder on the side, abd a good cost-basis in their positions, then sitting on one’s hands and holding “ole turkey” style is a solid strategy so you don’t get caught out of position on days like this.

            Most investors are not as suited to be day traders or swing traders, and it does take more time in front of charts and the screen to gather and assess incoming data. This is why I’m more an advocate of scaling into and out of positions in tranches, versus buying or selling everything all at once. It is preferable to trade around a core holding with 10-40% positions , always keeping a fishing pole in the water.

            Jan 28, 2021 28:49 PM

            Sorry Ex but you’re assuming way too much. The setup was ripe for a squeeze, period. Have you ever experienced an important low in the miners during a real bull market? Were you around in 2003-2004? Do you realize that we’re in the part of this secular uptrend that correlates to the late 1970s and early 1980s more than the also fantastic but inferior 2003-2004 period? Do you really think big money doesn’t cause big squeezes or target them? Do you also really believe that you know how a squeeze will develop and end once one has begun?
            A lot of large and small money has been bearish MUX and vocal about it so there is absolutely no reason whatsoever why a squeeze wouldn’t spiral UNPREDICTABLY as this one has. Short squeezes feed on themselves and smart-big money presses its advantage especially at a MAJOR low.
            With the cracking of countless parabolas in other assets classes just as the gold and silver miners broke to new lows within a long-in-the-tooth intermediate correction, the setup was absolutely perfect, technically/cyclically/fundamentally. And silver’s huge outperformance of gold? That’s been telegraphed beautifully for months with silver’s most bullish divergence from gold I’ve ever seen and probably the most bullish in history. I don’t think you you have a handle on the implications of the collapse of the gold-silver ratio from its highest level in history.

            Perhaps now it makes sense that MUX was able to raise so much money so far above market in recent months. The lows it languished at were artifacts of short sellers and dumb money that were unsupported by fundamentals.

            Jan 28, 2021 28:13 PM

            I already agreed twice so far, that the setup was bullish for a big move higher (or lower) twice so far. I had also mentioned recently that gold and silver sector were channeling sideways and building energy for a big move out of the consolidation period.

            It really isn’t assuming too much considering there was tons of articles and chatter from these social media platforms yesterday and today that they were targeting massive move the over-shorted Silver and larger dual-listed Silver stocks, and that is precisely what we saw.

            You stated at the top of this page last night that AG had moved up 20% in after hours trading and you didn’t know why. I had responded back to you last night that it was due to a concentrated block of retail investors trying catch the shorts off-guard, and we saw more of that today, and it was in targeted stocks, not across all the gold producers or developers or explorers, all of which had mixed days.

            Jan 28, 2021 28:46 PM

            It is actually assuming more than you think when you consider other factors that might account for portions of the moves. Not only the usual tendency of very important lows to erupt in the same fashion as I mentioned above but how about the return of leverage to the metals because the market “knows” that this is THE low and that we are in for something like another 2016 move. If you recall, Impact and similar peers returned a leverage of about 20 to 1 versus silver for the entire move. That is obviously extremely impressive since we’re not talking about a day here or a week there but the entire move. Even diversified SILJ returned 7 to 1 leverage. Today, silver was up over 5% but I’ll use the close for SLV of almost 4%. This gives SIL and SILJ leverage of about 3 to 1 and HL over 5 to 1 while AG managed over 9 to 1. On February 8th, 2016, IPT delivered about 30 to 1 leverage versus SLV based on closing prices and far more than that intraday as it more than doubled. Do we know why exactly? No. There was no news. All we know is that it was the start of a major move and virtually no one knew that at the time except in hindsight.

            It pays to be skeptical anytime the herd and the media neatly explains any event away with one story when they have a track record of being ridiculously deceptive. E.g.: “Gold rises on geopolitical tensions” and never because the U.S. is bankrupt and must print dollars to infinity to avoid collapse. I am not saying that there is nothing to the current news, only that there is almost always more than meets the eye and the silver miners’ unusual vast outperformance of the gold miners throughout the entire correction is consistent with that. The silver miners smoking the gold miners today was not unusual at all considering how much better silver performed than gold.

            Leverage disappeared from the miners way before most of them peaked nominally last summer but it now looks like it is back. We are not in the clear but hopefully that will change with this week’s close tomorrow. SILJ vs GLD:
            https://stockcharts.com/h-sc/ui?s=SILJ%3AGLD&p=W&yr=5&mn=0&dy=0&id=p45181997898&a=862287736

            Jan 28, 2021 28:24 PM

            Those are good points to consider Matthew, and it would be fantastic of this was the beginning of another run in the Silver miners like 2016, and yes, I remember the outperforming of the Jrs quite well and had a number of 5-10 baggers as well during those 8 months. It is quite possible this is liftoff, or will at least be the catalyst for lift-off, as so many generalist investors and financial news outlets were talking about Silver miners today. That is going to bring in new money that the sector so desperately needs.

            I am also typically skeptical of convenient explanations, unless they really do seem lineup with a move. For example, there really have been times where the Fed speaking, or Elon Musk tweeting something about Tesla, or Eric Sprott taking a position in a Jr explorer, where a single daily news story really can move the needle.

            In this case, there has been a few prior examples recently of the retail herd using coordinated trading through social messaging platforms to bid up Hertz, Kodak, AMC, and GameStop. There was chatter about squeezing the shorts in Silver and First Majestic was a target. I could believe that the movement last night where it shot up 20% was that retail herd at work, and had posted that before all this other coverage showed up today in financial circles.

            It likely doesn’t explain all the buying, as momentum players were likely also piling in. There was plenty of chatter over at ceo.ca of newbie investors proclaiming that if Redditers and Robinhooders were piling in then they were going to buy as well.

            Who knows? Any way one slices it, this has been good for both Silver, and silver producers, as well as putting the mining stocks on the top of the larger investing communities radar. Many people likely bought their very first silver stock today, and that is an encouraging thought.

            Jan 28, 2021 28:07 PM

            The Fed is always the elephant in the room.

            The Biggest Short Cover in History | Stocks, Crude Oil, Metals | Morning Express
            https://www.bluelinefutures.com/post/the-biggest-short-cover-in-history-stocks-crude-oil-metals-morning-express-01-28-2021

    Jan 28, 2021 28:19 AM

    Your such a narcissist door bird brain!

    I will send you a chart of what I painted way before you had any idea. Once again nothing Has been invalidated. The right shoulder still remains in tact you are out to lunch but goes to prove you know nothing about charting and cutting and pasting is your forte. If it pans out you were going to look like the biggest fool on top of being a fool already if I was you I just shut my mouth at this point. But since I know you wonā€™t go awayItā€™s best I do and continue to focus on what I do best give good numbers and direction of market something you can never do in real time

    b
    Jan 28, 2021 28:26 AM

    Army of day-traders piling into silver? As prices rally, analysts point to $40 and higher
    Anna Golubova Anna Golubova
    Thursday January 28, 2021 11:4

    https://www.kitco.com/news/2021-01-28/Army-of-day-traders-piling-into-silver-As-prices-rally-analysts-point-to-40-and-higher.html

    It sounds like they want to take the price of silver up to crush short sellers.

      Jan 28, 2021 28:45 AM

      Yes, the retail mobs looking for short squeezes in GameStop and Revlon have now found the very oversold Silver mining sector, and that is why First Majestic surged last night, and why and silver companies like Hecla and Coeur and others are up bigly today. I had posted a few article up above in the blog on this, and a good video with Goldfinger talking to Soar Financial about these retail mobs from Reddit, TikTok, and Robinhood organizing as blocks to squeeze the hedge funds. It’s a glorious sight to behold. šŸ™‚

      Jan 28, 2021 28:51 AM

      I think it is a very commendable goal to crush short sellers, particularly naked ones.

        Jan 28, 2021 28:01 PM

        +1 David. It’s a beautiful thing to see.

    Jan 28, 2021 28:49 PM

    This of course could all amount to nothing but the fact that the shorted silver market is being talked about in the reddit platform (much like the gamestop euphoia started) is a sign that perhaps, just perhaps new money is looking at PMs and in particular silver.

    Ive always maintained that we need new money off the sidelines to help be that fresh catalyst in driving up PMs further. Bitcoin has been hoarding that new money as millenials seem appealed to it because of the technology aspect. Like I said, it is quite likely that nothing major will happen to silver from the Robinhood movement. The fact it is been discussed amongst different demographics is a positive development.

      Jan 28, 2021 28:14 PM

      Great points Ozi!

      The youngsters and new money are infatuated with Bitcoin, media, and what ever is ā€œ popularā€..

      Stay stealth and keep acquiring shares at these ridiculous lows values. We are in almost a 6 month correction in gold. Percentages are extremely high that buying at these levels will be extremely rewarding. Matt would tell you the same and I know you also know this. The intermediate cycle has either bottomed or is friggin close..

      The crowd will jump in once the move begins.

      Glen

      Jan 28, 2021 28:20 PM

      Agreed Ozibatla and good points. Yes, as stated earlier it is about time the generalist investors started waking up the the gold and silver markets, and that new money came in off the sidelines and into this tiny sector. It’s a great development overall, regardless of whether it was fuelled by these initial Reddit, TikTok, and Robinhood retail swarms.

    Jan 28, 2021 28:12 PM

    Cheere guys. Heres to hoping!

    Jan 28, 2021 28:19 PM

    The fact that silver had sway somewhat and gold did not perhaps gives creedence to the notion that silver was more targeted as a short squeeze option as suggested by those on reddit.

      Jan 28, 2021 28:56 PM

      Agreed. Also the spikes up in stocks today, from the short squeeze was mostly focused on dual listed (US/Canada) Silver stocks with large short positions against them. As mentioned, hopefully this will get more generalist investors looking at this tiny sector for the underpinning fundamental drivers that are supportive of higher prices for the medium to longer term.

    Jan 29, 2021 29:36 AM

    Silver on a tear this morning. Let’s see if it holds to end the week strong versus weak the last two weeks.