What happened to all the catalysts that were supposed to be driving gold higher to kick off the year?
Craig Hemke joins me today to address the range bound trading in gold to kick of the year. The gold bug community was pointing to a Bidden Presidency and further easy money policies from the Fed as key drivers to the metal price but it has not happened so far. We look at the bond market, recent Fed meeting, and overall boring trading in gold.
My next door neighbor is an ER doctor, one of my sons is traumatic injury operating room medical sales, my daughter in law works for Eli Lly, a good friend is dead at 64. There is no evidence of a hoax. There is evidence of a Pandemic.
Thanks BDC. I don’t want to go down the covid-19 rabbit hole again today, but yes, when both my elderly parents came down with it (and have it currently), and both lost their sense of smell and taste, and in particular my mother (who is medically fragile, has Cancer in remission and is on intense immune suppressors for her Crohn’s disease) had to be rushed to the hospital for emergency blood serum antibodies, it clearly is something to be concerned with for high risk patients like them.
Overall I have disagreed with the frantic hysteria in the media coverage, the BS from the WHO and CDC, and have been vocal about being really against the government overreach and erosion of individual liberties, the collateral damage in public health due to the lockdowns (suicides, drug overdoses, domestic abuse, undiagnosed other health conditions), and the decimation of small businesses due to all this extreme public over-reaction. I mentioned yesterday how many of my favourite restaurants, bars, entertainment venues, and music halls are now closed forever, and how close friends lost everything that were in people intensive small businesses at salons, teaching yoga,, teaching dance, teaching martial arts, or in the hospitality and food service industries, in addition to my own work position, along with thousands of others at the company I worked for as part of a large reduction in force due to the terrible business environment.
So make no mistake about it, I’m not a fan of how this “pandemic” has been handled at all, and we’ve never shut down the planet for any other virus. It is a straight up power grab by the power that be, and I’m against all of that. That doesn’t change the reality that there is a novel coronavirus called Covid 29, and that the elderly high risk medically fragile citizens, like my mother, should be cautious.
29 = 19 sorry typo
@Excelsior: I hope your parents make a speedy recovery. I concur with your assessment, and appreciate that you can maintain a reasoned, realistic and balanced perspective given the impact of this disease upon your parents.
Exactly. Not a hoax. That’s my point. A scam based upon some truth.
Little change in season on season deaths from all causes (and incredibly low instances of common flu deaths now).
Most fatalities among older folks, many with other serious medical conditions, but listed as Covid-19 anyway.
Note the international coordination. Top down control.
Small businesses often the victims, not big box stores.
Yes, agreed 100%
Best wishes for you and yours!
Thanks BDC. I spoke to my mother and the blood serum antibodies are helping, as well as taking her off the immune suppressors. Hopefully her immune system keeps getting stronger and gets on top of it.
Countless lives are being destroyed for absolutely no legitimate reason.
https://remnant-tv.com/video/272/dr.-simone-gold—the-truth-about-the-cv19-vaccine?channelName=RemnantTV
The numbers from the CDC show it is not at all what the politicians want us to think it is and there are thousands of real experts (not even close to all MDs are experts and the honest ones will say so) globally who are being silenced, threatened and losing their jobs for sharing the truth (supported by the evidence rather than the claims of government selected mouthpieces).
+1
Doesn’t any leftist find this a little suspect?
https://redstate.com/michael_thau/2021/01/20/total-coincidence-alert-who-issues-new-c19-guidelines-requiring-2nd-test-for-symptom-less-on-day-biden-takes-office-n313400
No more skyrocketing cases now that Biden is in!
And isn’t it odd that the vaccines don’t allow those receiving them to ditch the masks or social distancing AND do not protect from infection?
https://www.youtube.com/watch?v=r3krKEKCyRs&list=PLbpi6ZahtOH6CBHw5k8mNUmqm0yg-gfC_&ab_channel=MayoClinic
It may be psychological conditioning. People who usually “go along to get along” accept such things if the mainstream promotes it. Critical thinkers tend to look deeper as a habit (causing trouble for ‘the Powers’). It should be a qualification requirement for leadership roles.
Just finished Rickards book..The New Great Depression…winners and losers in a post-pandemic world.A lot of scenarios,history of past pandemics,etc.etc.etc.and etc!!!The book was a very interesting read.I’m now as confused as I was before I picked up the book!!!! If anyone could take the time….would love your guys opinions on James.I honestly don’t know much about him.And I truly thank anyone who responds!!!!
Hi Ann. Jim Rickards is a smart enough guy, and Wallstreet/Fed insider, but he’s been pushing the narrative for years (long before the pandemic) about the total collapse of the dollar, as the BRIC countries (Brazil/Russia/Iran (or India)/China) sell off their dollars and start conducting business with each other without Dollars. His supposition is that there will be introduction of basket of currencies with special drawing rights, etc… etc… to replace the greenback. He’s been bullish on Gold and farmland, and those are of course, good stores of value, but a little overzealous with regards to the end of all fiat money, and at present there isn’t anything but Gold or Bitcoin that is actually challenging the US Dollar as the world reserve currency. The real question is what will actually take the Dollars place on the global stage.
It seems more likely to me that fiat money will stay with us, but they will just convert things over to national digital currencies, so that all transactions can be tracked (and of course stolen… cough… I mean taxed) by the government.
One thing the whole cryptocurrencies movement has done is built the case for how effective the digital ledge on the blockchain is as a financial tool. The central bankers are clearly aware of this as are nations all over the world, and their reaction has been, “cute idea cryptokiddies, but we are going to take your decentralized platform, and make it centralized with the government and banks in control.”
The very financial tools (cryptos) that have been created, after the Great Financial Crisis of 2008-2009, to escape the banking cartel’s crooked system, is about to be hijacked and turned around on citizens by the powerbrokers at the top of the pecking order. They will introduce their own FEDCoin or ECBCoin or whatever to keep the people as indentured servants.
I completely agree with Jim that Gold & Silver, PM miners, and Farmland are great places to store wealth, and that the US Dollar is looking weak, but they won’t ever let their fiat control mechanism go to $0.
The theme for the Billionaires gathering in Davos, Switzerland this year is “The Great Reset” which gets into more than just a reset of the monetary system, but also ties all this control to their “Green New Deal/Climate Change” agenda, and quite possibly a Social Credit Score system, similar to what China has already foisted on it’s people.
I guess the bullet points are buy hard assets like Gold, Farmland, and maybe a little Bitcoin that are outside of the legacy financial system to store some wealth, before “The Great Reset” is thrust upon us.
Cheers!
Thanks Ex. Always appreciate your input
Hi Ann!
Jim Richards,
Where do I start lol.when I first got started in investing, he was one of the the few I followed. My personal favourite was and still is Peter Schiff! Jim Richard has an act for saying many things you want to hear yet from my personal following he under Delivers.
I found myself for many years listening to someone who was conspiracy theorist and all over the map personally. Many might praise him and he did have his views here and there that I agreed with but eventually I tuned him out.
You need to find the person that guides you and directs you in the right path in regards to trading. For me it was Peter.
Jim Richard to me jump ship. He was ever a gold or silver or miners soldier, he was with the other side Wall Street.. he then turned and changed his approach fake person for me.
My two cents!
Glen
I meant Richards lol not Richards
Glen
I meant Rickards over Richards lol
Thanks Glen..your 2 cents is much appreciated.Regarding PeterSchiff..I totally agree
I was a big listener of the late Bob Chapman and enjoyed his International Forecaster for several years. Would like to hear what he would have to say about the times we are living in. And he would always manage to make his point with a sense of humour. He is missed.
I haven’t paid enough attention to Rickards to have a worthwhile opinion of his views or predictions but his affiliation with the CIA would put me on guard if I decide to read his material. The best propaganda comes wrapped in a lot of truth and is therefore sometimes difficult to detect.
Matt, in the last 10 years or so,you have always come thru with a responseThanks for the reply
https://postimg.cc/bSt5Wz5D
First day trade in quite awhile.
Missed the big moves though.
Well said guys. Agreed, scam is a more accurate term than hoax.
Yep.
With regards to today’s daily editorial with Craig H., I couldn’t have agreed with him more with the macro points he made regarding the relationship of Gold to real inflation-adjusted rates, or his comments on how the FED will control yields and let the climb too high or it will bring down the whole debt-burdened house of cards. As a result, rates will be confined to a narrow channel, and with real inflation getting hotter, this will keep real rates negative, making bonds much less attractive, and will continue to underpin Gold’s attractiveness as a tier 1 asset, and better store of value that can appreciate higher.
I’ve been posting on that very topic of the eventual rotation out of bonds and into gold as a larger macro theme in the years to come. I’ve also been working on a little editorial article to that effect, and will post it when I have it wrapped up.
Dave Portnoy is going off… and he is exactly correct. The fact that Robinhood suddenly blocked retail investors from buying stocks like GameStop, AMC, etc… because the hedgefunds were losing tons of money is absolutely criminal and should be called out. Way to go Dave!
Chartster – I had posted this on the other blog today, but it is relevant to what Dave is discussing there:
Robinhood Faces Class-Action Lawsuit for Blocking GameStop Stock Buys
By Michael Kan – January 28, 2021
“Robinhood is now facing a class-action lawsuit for blocking users from buying GameStop shares in the ongoing “meme stock” craze. ”
“Robinhood essentially abandoned its customers altogether by pulling GME (GameStop), a standard of care so far below what is required for a business engaging in time sensitive trading services that it amounts to a complete abandonment of its duties,” Nelson claims in the lawsuit, which was filed in a US District Court in New York.
https://www.pcmag.com/news/robinhood-faces-class-action-lawsuit-for-blocking-gamestop-stock-buys#
Portnoy calls for people to be jailed over hedge fund scandal in scathing interview
01/28/2021
“Barstool Sports Founder Dave Portnoy joins Tucker Carlson to discuss exactly what is happening between GameStop investors and the popular app Robinhood.”
Defanging Glass-Steagall, particularly after LTCM,
has fueled much more than just ‘dot.com’ bubbles.
Immense credit, IF you have Power to demand it.
The problem with the banking system is that it is a Marxist anti-free market system. The central control of currency/credit distorts and corrupts the entire economy.
“Many free-market advocates wonder: why is it that I am a champion of free markets, privatization, and deregulation everywhere else, but not in the banking system? The answer should now be clear: Banking is not a legitimate industry, providing legitimate service, so long as it continues to be a system of fractional-reserve banking: that is, the fraudulent making of contracts that it is impossible to honor.” — Murray Rothbard
Lacking the necessary fourth branch,
our Constitution leaves money matters
to politicians who are owned by ‘others’.
Off topic but onto another one that is at the forefront of the economic verncular at present, I wonder if what we have witnessed regarding Reddit, Robinhood, Gamestop etc is a significant moment in the financial world? Simply put various social media platforms are allowing many people to band together and share information and accumalate a large capital base to take on the the big players. Essentially, many small individuals banding together in unison are able to enter the high rollers table and bet against the big players. And in this sense of exposing the shorts, with enough capital, they can force the big players back onto the long side. Thus a price is chased higher by both parties and subsequently it skyrockets.
Plenty to play out in this space potentially. Whether the discussion of targeting the silver shorts amounts to anything significant or just a brief fad, only time will tell. I dont think this is the last we will hear of this type of movement.
Ozibatla, I agree that this is a significant moment in the financial world with these coordinated blocks of retail investors.
SilverDollar has posted this over on the other blog and ties into that same thought:
________________________________________
> From Jarrid Dillon (Mauldin Economics). “The GameStop fiasco is one of these things that will be obvious in hindsight. Six months from now, with the S&P 500 significantly lower, we can look back at GameStop as the moment that the bell was rung.”
____________________________________________
I had quipped back this in response:
A really great point from Jarrid. Yes, we are at peak speculative fervor in so many markets, be it in the general markets where folks think every dip will be bought from now until the end of time, to cryptos & DeFi & fintech, cannabis & psychedelics, vaccine stocks, other biotech, clean energy, or even as GrowingTrees pointed out on here the other day sectors like semiconductors. The market froth is really bubbling up as millions are stuck at home trading the markets each day. However, it is a bell ringing, and when the music stops and people start scrambling for the exit doors, there could be a corrective move that erases many of these gains.
After the ecstasy…. the laundry; after the wild party…. the hangover.
I’m sure this GameStop fiasco will be a benchmark, capping off the advent of social media trading that grew like crazy during the shut downs. Really it started with the same kind of mob mentality in Hertz, certain airlines, and Kodak, and had only gained more a more traction. Of course, it grew so big, so fast, that Robinhood blocked investors from trading GameStop, and now are looking at a class action lawsuit, and congressional members weighing in on the topic today.
It’s a significant moment in the speculative space, but typically this kind of “irrational exuberance” gets punished by intervention from government policy, central bankers, and large institutional behemoths, and compounded by human emotions of greed and fear. Mr Market can be a cruel teacher at times, and all bubbles will pop, but the last few moments of the bubble being blown can be quite fascinating.
Ever Upward!
Well said Ex. Perhaps in 2021 “herd mentality” will replace “herd immunity”?
A funny story here in Aus: In light of the Gamestop mania taking place, a small miner who has no relevance except the same share code (GME) saw a 15% daily increase yesterday. Human error knows no bounds!!!ha.
Mental immunity’?
Haha BDC. Yes we all need some “mental immunity” from all the chaos and nonsense circulating out there for sure. Good one!
Haha well done BDC, mental immunity would be nice.
Haha! Ozibatla. Yes, from herd immunity to herd mentality. It was said long ago in the book “The Madness of Crowds.” The only constant is constant is change, but conversely, the more things change, the more they stay the same. People are emotional creatures, and when fear & greed get activated, bubbles and manias abound.
Yep people are emotional creatures. To a degree they can also be termed: “Sheeple”!
Predictive programming?
Robinhood Blocks. Game Stops.
Robinhood:
You could make the argument that traders that band together to influence the direction of a security for the purpose of personal gain, is illegal manipulation.
The problem is that Regulayors allow managed money to already influence direction.
That makes the Government complicit in criminal acts and a co-defendant.
The new Administration has to decide whether it continues to be complicit and do nothing or favor one side.
The better course would be to revise regulations to remove the Government from being a third party defendant and structure new regulations that remove unfair advantage to any party and enforce regulations that define market manipulation. Another action would be to get rid of Citizens United and eliminate corporations being defined as people so that real people are held accountable for criminal acts. Restore Glass Steagall and as a follow on reestablish fiduciary responsibility.
Hi David – I know you are over at ceo.ca often. Do you ever follow Dr Jim Jones. I find him to be a sharp and quite savvy investor and he had these remarks a few hours ago along the same lines.
___________________________________
@Drjimjones – “I believe the GameStop Saga will have a positive effect on PMs as more investors flee the devaluing dollar and flee equities due to fear of irrationally swings in prices and what seems to be an all out digital war in the stock market whose end is the destruction of the opposition, they are/will flee to the safety of holding physical Gold/Silver. This GameStop Gate has revealed the inequalities and special treatment of institutional short sellers and HFT firms. How can 140% on the shares outstanding be shorted and allowed? Maybe blockchain can help prevent this in the future with a clear chain of ownership of each share vs the counterfeiting we currently have. Law makers and more importantly force enforcement via the sec and the Canadian securities commission have been asleep for far to long the pandered to high frequency trading firms and short hedge funds who don’t add value through aiding liquidity for price discovery or capital formation. Focus on The Quantifiable data points that consistently lead to positive portfolio outcomes: strong management, cashed up balance sheet and a land package whose geological dictated by the immutable law of science has multimillion oz potential.”
— Best Doc Jones
Good thoughts David. Me thinks the government will continue to do nothing and be complicit.
Reddit Users still salivating over further short squeeze opportunity in (AG) First Majestic.
I hope the retail hordes push our silver stocks even higher today to close the week with a bang.
Here are the kinds of things the Reddit crowd is discussing regarding (AG) First Majestic:
Etruscanboomer – 1 hour ago
“No brainer, this will continue. It’s not a tsunami of buyers any more, it’s a flood that will just keep on coming. I reckon the shorts are already sat on a $600m loss, lets round it up to $1B-$2B+”
Borgilskye – 3 hours ago
“First Majestic still has a 23% short float only about 3% of shorts closed so far. A long way to run.”
It is encouraging to think of how many retail investors are just now discovering the precious metals miners, and it is likely that in the last 2 days, many just bought their first silver stock.
Maybe a percentage will stick around after they are done messing with the short sellers, and learn about this sector.
Ex… are you familiar with Soma Gold Corp SOMA.V ;producing in SA.Curious if you have an opinion on the company.?
Hi Ann. No, I’m not familiar with Soma Gold Corp (SOMA). There are about 800 gold explorers so there are just too many to keep up with.
What do you see as their main attributes that differentiates them, or shows promise for this year in 2021?
I’m always willing to learn about another promising opportunity.
Well, you made me look. 🙂
I didn’t realize Soma Gold is actually a small producer in Colombia. Interesting, and they are getting added to the small producers watchlist. Thanks for the heads up.
Ha! I went to go add Soma to my small producers watchlist, and they were already on it, so apparently I looked at it at one point. There are just so many gold companies.
This is the beginning of “The Reddit Scare”, and the end of “The Big Red Scare”. The country is learning how to amuse itself once more. Gone for now are the elites perpetrating Russian meddling in America’s politics, now they are worried about Reddit. The country has taken up a new fad, destroy the elites love of financial and political control by using devices meant to control the public against the establishment. Play follow the crowd and win money, who in America doesn’t like that. LOL! DT
Good one DT!
Hey Ex, “Yes We Have No Bananas,” Na, Na, Na,- Na, Na, Na! LOL! DT
😜🍌🍌🍌🦍🐒🐵
Thanks Ex.I don’t really have much info other than;from a friend of a friend etc.Thx.
Ann – Thanks for bringing up Soma. Apparently I had looked at it once, and forgotten about it, but likely because, in general, I’m not a fan of Colombia as a jurisdiction. I got my clock cleaned on both Red Eagle and Cordoba, and while I don’t mind some risk in Latin America, I prefer other countries to Colombia.
Gold & Silver are up nicely this morning. It looks like this is going to be a feel good Friday.
Gold up to $1875
Silver up to $27.56 (That is a really good price for Silver producers to make $$$)
Pay a lot a attention to First Majestic Silver. It is jumping like an athlete. I have a couple thousand shares, accumulated during the years. I side with Keith who faces JPM courageously. Silver has been suppressed for way to long.
Hey there Dragonite. I haven’t seen you posting here in a while, but it is always nice when you pop by. Oh, yes, I’m definitely watching First Majestic today, and watched it all yesterday, as the retail mobs have the short sellers of (AG) in their cross hairs.
Another one being targeted is (MUX) It was up 32% in yesterday’s trading, and is up another 21% in the premarket trading.
These merry bands of Reddit, TikTok, Robinhood retail traders are sure welcome to push up prices in more mining stocks. 🙂
As mentioned above, hopefully a percentage of these retail hordes will stick around in the mining sector and learn more about the space.
Cheers!
Excelsior, I have been so busy. My boss treats me like I walk on water so I have to perform. At same time I have been participating in an international Chinese investment forum which takes my attention away. All the best. I will try to follow here a little more. I thought I saw you quit this site a while ago. Good to see you continuing.
Hi Dragonite, yes please come by and check in from time to time, and don’t work yourself too hard. 🙂
> I’m still holding and trading around my Silvercorp position after us discussing years ago at the end of the bear market in 2015, and early 2016. Do you still own any SVM?
No I wasn’t quitting, the site, but I decided to take a breather for few months last Fall as we prepared to sell our house, then showed and sold our house, and had to make 2 epic cross-country trips to move and start a new chapter of life.
BTW – Did you see the Uranium stocks perking up in November & December? That is likely just a taste of things to come in the U sector.
Ever Upward!
Yes, I still own 5500 SVM shares. I used to own 11000 and sold half. I did not catch the top during last summer but I feel the high is coming again.
I sold some Cameco during last spike but I am holding my U stocks still. BTW, I have around 1500 NexGen. So thanks. I was up about 70% from the time I purchased. I feel Uranium will go up gradually. China is deploying 8 reactors a years. The plan is that at 2030, China has same percentage of nuclear power as US. I think they started this routine deployment since 2019. They stopped building for safety precaution for a few years after Fukushima and restarted in ~2015.
I did an investigation of hydrogen power and noticed that hydrogen power starts to boom in China as it has in Japan and Korea. I bought some stocks and they all went up a lot. Hope you pay attention to it too.
Nice Dragonite.
Yes, I’m hanging onto my SVM shares as well, and in addition to their production growing, and their new acquisition that they won off auction, I still like their 28% stake in New Pacific Metals and 20% stake in Volcanic Gold.
I’ve never owned Cameco, but of course, they’ll do great as the Uranium bull market keeps unfolding, but yes, I’m a big fan of NexGen, and glad you ended up getting positioned. It really moved nicely the end of last year. I’m still holding Energy Fuels, Ur-Energy, UEC, Denison, and recently added Azarga Uranium for another ISR developer in the US, and Standard Uranium, as a Uranium drill play in the Athabasca Basin.
Which stocks are you liking for hydrogen power? Do you mean hydrogen powered vehicles? At first I thought you meant clean energy Hydro power (from dams), as those have done well also.
Cheers!
This post is getting old. I will catch you in the new posts. What I mean is Hydrogen Power technology, vehicle and machinery stocks. They are getting like wild fire in China due to Chinese government policy of reducing the reliance on Middle east oil. US may cut the transportation route in the sea which China fears. China is a big manufacturing powerhouse and has a lot of by-product of hydrogen gas from chemical reaction. Recently fuel cell, hydrogen production, transportation, charging station, etc. have many new faces. I bought Ballard Power because they sold 19% share to a huge Chinese company and got 90 Mil USD investment in return and more to come if they are willing to sell. That company also manufacturing fuel cells for Ballard to resell and Ballard get patent fee. The other company is Weichai Power WEICY, the company which supporting Ballard. The other companies I bought are Dongfang Electric in HK and a couple in China A shares. Too bad the best one I cannot buy since it is listed in China venture stock exchanges which require major capital.
Sounds good Dragonite, and thanks for the heads up on the hydrogen fuel cell companies like Ballard Power, Weichai Power, and Dongfang Electric. Yes, that is an exciting and growing sector. Be well.
So far so good Ex. If this is the beginning of a short squeeze in silver, get ready for a ride. Probably a bumpy one. And if this is due to the Reddit crowd, it will be different to Gamestop I would think.
Agreed Ozibatla. At this point, there were so many articles yesterday highlighting Gamestop, AMC, Bed Bath Beyond, etc… that the Reddit crowd was target, and many mentioned droves shifting to other overly shorted stocks, and many finally discovered the Silver miners.
At this point, with all that attention, you can be sure there are plenty of other generalist investors at least having a look for a momentum trade, and then even the typical resource investors are perking up and deploying more capital. There were plenty of folks over at ceo.ca yesterday trying to get into position before more generalists piled in, so it’s a full on MoMo trade at this point. Very encouraging.
MUX is up 20% in the premarket, (after already running up 32% yesterday) and I just trimmed off a few shares to lighten up a bit, and it is nice to finally have profits again in McEwen.
Silvercrest is up bigly in premarket, along with First Majestic, Hecla, etc…
Looking good!
Wow. Lots of double digit gainers again today in the Silver space. This may be liftoff!
Well, some of them are starting to pull back a bit (likely profit taking), but they are still up nicely. Golden Minerals was up 22% but is back to only up 16%. Impact is still hanging up around +10%. Excellon shot up 17% Gatos Silver up 12%.
Looking good….
Golden Minerals back up close to 20% on the day so I trimmed back a bit of the position.
This is a well timed news release from MUX, after their rocket launch yesterday, in afterhours yesterday, and in premarket this morning.
(MUX) McEwen Mining: Progress Update
Fri January 29, 2021
https://seekingalpha.com/pr/18171074-mcewen-mining-progress-update
Glad I trimmed some MUX in the premarket, as it has pulled back from that level now, and it is looking good to add that tranche right back again. Hovering over the buy button…
Bitcoin soars 14% after Elon Musk namecheck on Twitter
By Tom Wilson – Jan 29, 2021
“Bitcoin jumped as much as 14% on Friday to a two-week high after Tesla Inc chief Elon Musk tagged the cryptocurrency in his Twitter biography.”
https://www.reuters.com/article/idCAKBN29Y0ZX-OCATC?edition-redirect=ca
Now Bitcoin is up 16.79% to $37,524
What’s wrong with the metals market? I don’t get it.
Which one David. The PMs? They are up nicely today, and many miners are up double-digits in premarket trading. They look pretty peppy to me. You may mean the base metals though.
🙂
There’s a smile. Yes, it’s ‘Feel Good Friday” after all … 🙂
Lots of silver developers & explorers are also joining in on the recent rally higher.
Symbol – Silver Developers & Explorers – Daily Change %
SSE.V Silver Spruce Resources Inc. +27.2727%
AAG.V Aftermath Silver Ltd. +19.6429%
DEF.V Defiance Silver Corp. +15.0685%
IVR.AX Investigator Resources Limited +16.42%
ASL.V Argentum Silver Corp. +15.56%
SVE.V Silver One Resources Inc. +15.38%
SVL.AX Silver Mines Limited +13.95%
GOG.V Golden Tag Resources Ltd. +13.6364%
SVB.TO Silver Bull Resources, Inc. +13.10%
SSV.V Southern Silver Exploration Corp. +12.79%
KUYA.CN Kuya Silver Corp. +11.74%
AUMN Golden Minerals Company +10.8777%
OCG.V Outcrop Gold Corp. +11.11%
WRM.AX White Rock Minerals Ltd +10.87%
KS.V Klondike Silver Corp. +10.71%
MAG.TO MAG Silver Corp. +10.75%
KTN.V Kootenay Silver Inc +11.9403%
AZT.V Aztec Minerals Corp. +10.29%
SLVR.V Silver Tiger Metals Inc. +10.20%
ABRA.V AbraPlata Resource Corp. +9.30%
AXU Alexco Resource Corp. +9.01%
ISLV International Silver, Inc. +8.89%
REX.V Orex Minerals Inc. +8.82%
ANZ.V Alianza Minerals Ltd. +8.82%
SIL.TO SilverCrest Metals Inc. +8.37%
BBB.V Brixton Metals Corporation +8.70%
DV.V Dolly Varden Silver Corporation +8.45%
AUN.V Aurcana Silver Corporation +7.95%
MSV.TO Minco Silver Corporation +7.69%
CMB.V CMC Metals Ltd. +7.50%
DSV.V Discovery Metals Corp. +7.2222%
GRSL.V GR Silver Mining Ltd. +7.1429%
BCM.V Bear Creek Mining Corporation +6.67%
AGH-H.V Canadian Silver Hunter Inc. +6.67%
MMN.V Monarca Minerals Inc. +6.67%
AUU.V Gold79 Mines Ltd. +6.25%
MMG.V Metallic Minerals Corp. +6.06%
SNG.V Silver Range Resources Ltd. +6.00%
EQTY.V Equity Metals Corporation +5.8824%
RYO.V Rio Silver Inc. +5.88%
SLV.CN Silver Dollar Resources Inc. +5.8823%
VML.V Viscount Mining Corp. +5.75%
ARD.AX Argent Minerals Limited +5.56%
BHS.V Bayhorse Silver Inc. +5.5556%
CCW.V Canada Silver Cobalt Works Inc. +5.0505%
ELO.V Eloro Resources Ltd. +6.1364%
RSLV.V Reyna Silver Corp. +4.95%
ELEF.TO Silver Elephant Mining Corp. +4.55%
UFO.L Alien Metals Limited +6.1739%
RRI.V Riverside Resources Inc. +4.44%
CLZ.V Canasil Resources Inc. +3.85%
BTT.V Bitterroot Resources Ltd. +3.5714%
SDR.V Stroud Resources Ltd. +3.13%
BRC.V Blackrock Gold Corp. +2.7778%
FCO.V Fabled Silver Gold Corp. +2.7778%
CD.V Cantex Mine Development Corp. +2.439%
VIPR.V Silver Viper Minerals Corp. +2.15%
AZS.V Arizona Silver Exploration Inc. +1.85%
CCM.TO Canagold Resources Ltd. +1.56%
VZLA.V Vizsla Resources Corp. +1.31%
Looks like lots of money is being raised in the mining sector this morning.
Americas Gold and Silver Announces Closing of 33.9 M Bought Deal Financing
Alexco Resource Corp. Closes 11.7 M Flow-Through Equity Financing
U.S. Gold Corp. Announces 9.6 M Registered Direct Offering
Blackrock Gold Announces 7.0 M Bought Deal Public Offering
INV Metals Closes 6.1 M Private Placement Financing
Clarity Gold Closes Second Tranche of 4.5 M Private Placement
Aurion Resources Announces 5 M Private Placement
As usual, the satanists have started to attack the PMs by dumping their naked shorts.
Let us just hope the Reddit crowd are success in crushing the (junior) satanist shorts on GME and AMC. It might give them wings to give satanist shorts on silver a match. That might be our last chance to have a true price discovery of silver (and gold)
At this point the metals look like they are running nicely, and buying begets more buying, so while the Reddit crowd has been targeting Silver and the Silver stocks the last 2 days, there are plenty of other generalist investors and resources investors watching, so it very well may turn into a momentum trade, where we started the next leg higher yesterday.
We’ll need to watch how things develop at the weekly close this afternoon, and more importantly watch for follow through buying next week, but the precious metals could be off to the races…
Silver: Is This Short Squeeze For Real?
Jan. 28, 2021 – Equity Management Academy – Seeking Alpha
Sprott Physical Silver blocked by Robinhood. The likely cause for that fall in gold, silver and the miners.
Yeah, I was just reading that Sprott Physical Silver, Northern Dynasty, and a few other PM equities have been blocked or restricted on multiple platforms. Also, Interactive Brokers and TD restricting margin in many of the hot Reddit/Robinhood mob stocks like Gamestop, AMC, Bed Bath and Beyond, Nokia, etc…
Many trading platforms will borrow shares from customers to short, and so many of the platforms me be feeling the recent burn along with the hedge funds.
Also, the volatility really is getting more pronounced with the big pricing swings, so restricting the margin in some of the lunatic stocks, may be a wise decision. However the PSLV is not nearly as volatile, so that one seems more suspicious to block on Robinhood, especially when SLV is still trading. Robinhood is deciding to make up their own rules mid game, and there will likely be many investors looking to migrate to better platforms soon, so they are shooting themselves in the foot.
Ex, I appreciate your input, yet without a powerful short squeeze silver will not break out. And as I see it, only the reddit crowd might be willing to provide one.
Thanks Norrareal1968. Well, I’d love to see Eric Sprott get a couple of buddies and throw a little more fuel on the fire and keep squeezing the Silver shorts. Once the momentum gets going, then buying gets more buying from generalists, and the once the shorts starts covering, it begets more short covering.
It would be nice to see that kind of an epic move, but honestly, even at today’s prices, north of $27 all the silver producers are making money. What I didn’t like about last years silver surge, was that the miners didn’t keep pace with the moves in the metals and offer the kind of leverage they typically do. What we saw yesterday and today is more like it with many double-digit gainers and more of the typical 3:1 or 4:1 ratio of miner to gold in a bull market. In that sense, I’d rather see a more orderly climb higher in the metals where the miners keep pace and outperform.
We’ll see how it goes…
Don’t worry, Ex, even $27 silver will soon be a thing of the past.
Ex, the so called silver advocates, such as Sprott and Hugo Salinas Price, could have crushed the satanists silver shorts long ago. (They have the means!). But no, they did not. It tells me they are just part of the same evil clique as the silver shorts. As always in human history, the working guy will have to do the job (with a highly plausible outcome)
Norrareal1968, those men are dirt poor compared to the money behind the manipulation of all markets and they also do not own governments. They would have hell to pay if they were to take on such power in any meaningful way.
The Hunt brothers at least had the courage to try.
We are roughly 20 years into a secular bull market for gold (2011 was the halftime top similar to 1975) so it should come as no surprise that a mania in the junior miners is brewing and the possibilities might shock you…
Bankeno
1975 Price $1.25 / 1980 Price $430
Wharf Resources
1975 Price $.40 / 1980 Price $560
Steep Rock
1975 Price $.93 / 1980 Price $440
Mineral Resources
1975 Price $.60 / 1980 Price $415
Azure Resources
1975 Price $.05 / 1980 Price $109
Matthew – Yes, it will be nice when $27 is a thing of the past, and we see Silver climb back up in the mid $30s. The silver stocks will really go on a run then. Fun times!
Norrareal1968, don’t worry, silver WILL break out regardless of the reddit crowd or any of the people involved with GameStop. The sector is at a major cyclical low and it is time. Don’t forget that silver nearly tripled following last year’s low despite the bankster’s usual activities.
Silver’s corrective action following its August high never showed any cause for alarm but now it is suddenly extremely positive.
Since most here buy and hold for the big moves, here’s the excellent weekly chart:
https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=3&mn=3&dy=0&id=p21922008466
Matthew, $27 silver could have been a thing of the past decades ago and silver could have been in the hundreds and gold in the $10.000-25.000 range ih the so called PM advocates were brave enough to crush the shorts. But they didn’t and never will. They are pathetic cowards undeserving of any respect. All kudos to the reddit crowd
Norrareal1968, I couldn’t disagree more.
If there was ever poetic justice, a company named Game Stop putting and end to the Rigged Game of Wall Street insiders, caused by retail investors, I just stand in awe.
That said, using the US30 chart, we could be staring down the barrel of a stock crash.
And the Game Stops.
Totally crazy if it happens this way.
+1 Well-stated Charles. Yes, it is poetic isn’t it.
It is also ironic that a company named Robinhood, named after a robber that stole from the rich and gave to the poor, ended up being just the opposite by blocking buying from their own customers in Gamestop yesterday, to bail out billionaires and hedge funds so they could escape their short positions…. in a sense, stealing from the poor to give to the rich. Very crazy.
As they say in the Southeastern Conference….SEC!… SEC!
For real…. what Robinhood did to it’s own customers was criminal and should be investigated.
I don’t mean to mention the EW word in mixed company, but Warren has been public over the last few days after a quiet period. She appears to be pumping SEC but I think it closed its doors in the 1990s. With Gensler in charge I expect nothing…but, if i put on my “wishful thinking” hat, the timing is perfect to clean Wall Street’s clock and attempt Regulatory Control. Not as if I can do anything, so I picked up some popcorn and a new calculator. In the meantime, CNBC seems to be having a hemorrhoid problem…
The SEC was set up to protect them from us, not the other way around as is the claim. It makes perfect sense that Joe Kennedy was the first SEC chairman.
https://mises.org/library/sec-makes-wall-street-more-fraudulent
The S.E.C. Prevents Investors From Discovering Accounting Fraud
https://mises.org/wire/sec-prevents-investors-discovering-accounting-fraud
“The often-stated rationale of the Securities and Exchange Commission (SEC) is investor protection. There is a big difference between the motive of protection and the motive of protectionism. Securities regulators seem to have won the propaganda battle by virtue of their steady drumbeat of press releases.”
https://mises.org/library/how-sec-subsidizes-stocks
Serf status is getting hard to shake. Should have bought a surf board when I was a kid instead of a serf board.
Everybody’s gone serfing 🎶 serfing USA 🎶…
Twenty Reasons Mandatory Face Masks are Unsafe, Ineffective and Immoral
https://www.globalresearch.ca/twenty-reasons-mandatory-face-masks-are-unsafe-ineffective-and-immoral/5735171
Sorry I meant Chartster, but my “smart” phone autocorrect thought it new better.
new = knew (I need to work on proofreading my posts before I speak and hit submit).
Yes, the opposite mirror of Robinhood. Good point!
I wish I could say I was part of it, but stay clear of this makes more sense than ever. I do love the commitment of these millennials to bring the house down. Very proud of these folks.
Ditto.
You are making me feel guilty.
Ha! Of what? You are only guilty of investing in great resource stocks my friend. 🙂
50% claw back of gains and Palladium down $100…cree and fair markets kicking in.
“Free”
MATT, EX, DOC,
Now, after Two-Full-Days downwards in the general markets and 2-days up in the PM space, are we finally in that nascent-dislocation of the PM markets from the general markets that has been discussed here for months, or is this just an end-of-the-month reset in the PM’s?
Excelsior: Awhile back I stated my opinion about Covid-19 — that it is used to promote a scam . However, this does not mean it is a ‘hoax’. As you have experienced, there are real victims out there.