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John Feneck – Silver stocks being short squeezed and stocks he likes in copper, palladium and nickle

Cory
January 29, 2021

John Feneck, Portfolio Manager and Consultant in the resource sector joins me to share his insights on a number of silver and industrial metal stocks. We start with the short squeeze underway in First Majestic Silver and McEwen Mining. We then move onto the stocks he thinks could be next for the short squeeze. Copper, Palladium, and Nickle stocks are next. John highlights

Stocks mentioned in the interview include:

  • Fury Gold Mines – TSX:FURY – NYSE:FURY
  • Generation Mining – TSX:GENM – OTCQB:GENMF
  • Granite Creek Copper – TSX.V:GCX – OTC:GCXXF
  • Copper Lake – TSX.V:CPL
  • Group 10 Metals – TSX. V: PGE – OTCQB: PGEZF
  • Palladium One – TSX.V:PDM – OTC:NKORF
  • FPX Nickel – TSX.V:FPX

If you want John to take a look at any of the stocks you hol in your portfolio he offered to help you out. All you have to do is email him directly at johnf@feneckconsulting.com. You can also email me at Fleck@kereport.com.

Click here to visit the Feneck Consulting website to learn more about John helps his subscribers manage their portfolio.

Discussion
103 Comments
    Jan 29, 2021 29:50 AM

    A very powerful and long advance is starting in the monetary metals and their miners.
    https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=3&mn=9&dy=0&id=p13107882378&a=883386444

    Jan 29, 2021 29:56 AM

    SLV just hit a multi-year high versus GLD and is a buy versus GLD:
    https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=8&dy=0&id=p76807656736&a=616620009

    Jan 29, 2021 29:10 AM

    I am holding XBM.TO, the base metal ETF. I see major copper companies are on their list. I may not get into individual companies since base metals are so volatile.

      Jan 29, 2021 29:26 AM

      If you just want the Copper mining exposure, there is also the ETF (COPX). It has a good basket of companies at good weightings, good liquidity, and tracks the sectors fairly well, without the individual company risk.

        Jan 29, 2021 29:30 AM

        (COPX) Global X Copper Miners ETF more than tripled coming out of the March sector lows last year, and diversifies the risk as mentioned above. Just a thought.

        https://schrts.co/dvWrzWja

          Jan 29, 2021 29:10 PM

          Actually I want more diversified base metal portfolio.

            Jan 29, 2021 29:35 PM

            Understood. I also like a diversification across the base metals, but like having exposure through individual mining stock in Copper, Nickel, Platinum/Palladium, Zinc/Lead, and a few Specialty metals. (I generally don’t get into the others though like Iron ore, Aluminum, Tin)

            May your trading be prosperous.

    Jan 29, 2021 29:15 AM

    Excelsior, I had a follow-up post in our discussion about hydrogen power under Craig’s interview. Hope you have seen it. Please acknowledge.

      Jan 29, 2021 29:24 AM

      Hi Dragonite. Yes, I saw it responded back thanking you for the 3 hydrogen fuel cell companies you mentioned. Sorry for the delay, I was on a phone call, but really appreciated that information. Hoping we see you around here posting again more often, as you always have interesting insights to share.

      Ever Upward!

    Jan 29, 2021 29:22 AM

    Matthew, guess you saw HL go down and touch its 200 day avg before shooting up a buck. I should’ve bought it@4.72 but instead I bought more ELRRF in spite of its scary chart.
    After buying it at .70 last summer I hated buying more @3.29, but I had to have more. of their Godzilla deposit.

    Jan 29, 2021 29:20 AM

    I have requested stock charts to cover ELRRF to no avail. The AG chart is scary too and I should probably sell some, but I wonder if the Robinhood crowd may try an amazing short squeeze as they did with GME. Are you selling AG now or waiting for more squeeze?

    Jan 29, 2021 29:01 AM

    Canada Silver Cobalt Hits High-Grade Silver @ 89,853 g/t over .3m. If I knew how to post the PR, I would.

      Jan 29, 2021 29:03 AM

      Am I reading that correctly?… 89,853 g/t. Holy moly.

        Jan 29, 2021 29:05 AM

        Wow. Up over 20% on the news…

        (TCCW) (CCWOF) Canada Silver Cobalt Hits High-Grade Silver at 89,853 g/t in Drill Core

        by @newswire on 29 Jan 2021

        https://ceo.ca/@newswire/canada-silver-cobalt-hits-high-grade-silver-at-89853

          Jan 29, 2021 29:07 AM

          CCW (not TCCW…. not sure where that T came from).

            Jan 29, 2021 29:27 AM

            Nibbled at SAND, ARNGF, and USAS with this retraction by the PM market.

            Jan 29, 2021 29:58 AM

            Nice ones to nibble on Doc, and those are also weighted well in my portfolio.

            I’ve haven’t done as much trading as expected. I trimmed some MUX in the premarket (then bought at back lower later in normal trading session). I trimmed back AUMN (but then bought it back for a dime less per share a few hours later) and added a little more FURY, SAND and started a little tracking position in the one from the email.

            Jan 29, 2021 29:11 PM

            Doc. I also bought some USAS. I had already bought SAND @2 long ago. Do you own ELRRF?

            Jan 29, 2021 29:29 PM

            Bonzo, unfortunately I do not own that company.

            Jan 29, 2021 29:49 PM

            Ex, you should feel good about Fury—-it’s one of the companies that I really love the technicals. The BBs are tightening on the weekly chart and will tighten further as we move later into the spring (April)—I’ll continue to add over the next 2 months. Then look for a breakout.

            Jan 29, 2021 29:48 PM

            I ended the day by picking up some Sandstorm, Dolly V and Elemental. I was going to bite into Liberty Gold and Bayshore, as well as add to my White gold, but figured I’d see where we end up on Monday.

            Jan 29, 2021 29:43 PM

            Thanks Doc. Yes, FURY has a solid team, great projects, and quite a large drilling program on their properties for this year. Yes, it looks technically oversold, and like most of the downside in price movement is behind them, and as the BBs narrow, then more pent up energy is building for a big move, and my thesis is it will break out hard to the upside when it finally starts to move (most likely paired with their upcoming drilling newsflow).

            Jan 29, 2021 29:47 PM

            Canuckski – Sandstorm, Dolly Varden, and Elemental Royalties are all great picks, and I own good positions in each of those. (As well as positions in Liberty Gold and Bayhorse that you mentioned). I actually finally just got in Liberty Gold earlier this week after watching it fir an entry for a very long time.

            Cheers!

            Jan 29, 2021 29:48 PM

            If I had been more on my game today, it would have been good to have pulled profits in (SILV) Silvercrest in the premarkets or early hours, and then repurchased those shares in the afternoon, but you can’t win them all. I’ve been buying a lot of Silvercrest lately in the mid $9s, so I’m happy with a the close at $10.15 today, but it had spike up to $11.05 earlier, on really high volume. Really great action for such a larger market caps silver stock.

            Jan 29, 2021 29:54 PM

            Check out that big reversal upwards on high volumes on the (SILV) Silvercrest Chart.

            https://schrts.co/ZrrfSzHR

          Jan 29, 2021 29:55 PM

          Doc, glad to hear you like Fury as I bought it last week @ 1.36

            Jan 29, 2021 29:14 PM

            That’s a great buy in Fury bonzo. The shares I picked up today were at $1.38, so a bit higher than where it dipped last week, but anywhere around the high $1.30’s to low $1.40s has been a great place to accumulate for the coming massive drill program planned for 2021. Ever Upward!

    Jan 29, 2021 29:08 AM

    I bought some shares a month or so ago on a similar looking and sounding PR and decided I would wait and see what they put out next. Well this is next and still looks strange. But… there it is.

      Jan 29, 2021 29:10 AM

      The above comments apply to Canada Silver.

        Jan 29, 2021 29:28 AM

        Yeah, I remembered you mentioning CCW and I have it on my closer watch-list, but hadn’t seen that news yet, as it’s been a busy day. Congrats man!

        I decided to top up my FURY position today after listening to John Feneck’s interview in this daily editorial. Fury Gold is really undervalued and has a solid team, solid projects, and as a dual-listed company, it’s possible it may be ripe for a short squeeze as well, as John pointed out.

        I’m also excited to see their spinout companies, Tier One Metals and Sombrero Resources, get listed in the next few months.

          Jan 29, 2021 29:09 PM

          Let’s hope that Sombrero and Tier 1 find an elephant like Eloro’s Iska Iska Godzilla.

            Jan 29, 2021 29:48 PM

            +2 Bonzo. Agreed!

        Ann
        Jan 29, 2021 29:15 PM

        Hey David….are you the same “David” over at BMR.. just curious…. Cheers!,,

    Jan 29, 2021 29:00 PM

    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?

      Jan 29, 2021 29:14 PM

      I believe we may have turned the corner in the PMs to the upside, but 2 days don’t make a market, and we’ll need more data over the next week or two, for determining if this was just a mini-relief rally, or if the PMs just kicked off the next impulse leg higher. Yes, it is encouraging to see the PM and miners up, in the face of falling general markets.

        Jan 29, 2021 29:30 PM

        I have been walked back pretty good today (about 75%). Hope the last 30 mins is better.

        Jan 29, 2021 29:33 PM

        Confused; as mentioned recently, I believe the conventional market is in the process of a dump; if that happens, the PMs will be under some pressure but it shouldn’t be signicant—I believe we stay in a trading range for the PMs and stocks for awhile and when anyone of these good companies play with their BBs on the monthly charts it’s a great opportunity to add or purcchase some you like but don’t own.

          Jan 29, 2021 29:35 PM

          Confused, I would correct the upper thoughts to the lower BBs of the WEEKLY charts not the MONTHLY charts.

            b
            Jan 29, 2021 29:15 PM

            I had a fellow tell me that was involved with the people driving gamestop up that I should expect some activity in the PMs in the next 10 days.

            I have no idea the value of what he said.

          Jan 29, 2021 29:43 PM

          Doc and EX,
          thanks for you inputs! My trader guy is still 100% out of his PM positions so I am holding my breath….we are not out of the woods. I may reduce my positions a little bit next week….this market is so tough to endure. I can’t image how hard it will be after the next impulse move is complete and there is a 12-18 month correction/consolidation move….chop and grind…chop and grind:(

            Jan 29, 2021 29:58 PM

            Hi Confused. Nothing wrong with trimming profits on a bounce if you are concerned, but I believe it is just as risky to be 100% out of the space as you mentioned your trader friend is. Just look at the pricing surges in the Silver stocks the last 2 days as an example. Even if one scales out of a tranche of a partial position, it is still wise to keep a core position in place in the miners one feels the most conviction in, while still in a larger bull market. “You gotta be in it, to win it,” as the saying goes.

            Regardless of what your individual trading strategy is, may you have good trading.

            Jan 29, 2021 29:00 PM

            Doc says we’re going lower and there’ll be opportunities to pick some good deals. I get that and respect his perspective. Though, this sideways up and down to nowhere pattern is typically what we’ve been living for a long time here in this PM space.
            Personally, I wasn’t seeing that as the way forward for our PMs. Something tells me we’re could see something interesting. There’s an odd feeling hanging about. Maybe I’m wrong.
            I have been more cautious this past two weeks based upon many others expressing concern and second guessing the market.
            I wouldn’t be surprised if we experience a lurch upward.
            Weighing the potential bottom against a move upward, I figure we’re at the lower end, so we should not be seeing that dramatic of a dip if I am wrong.

            Jan 29, 2021 29:05 PM

            Good comments Canuckski. Yes, There seems to be a cautious overtone from many, (not just here but on other resource investing sites as well). Personally I’ve been adding to a lot of miners with my dry powder over the last 2 weeks, and see this as a great buying opportunity and look forward to seeing if PM’s can continue their move higher next week.

      Jan 29, 2021 29:10 PM

      Bring on the divergence!

        Jan 29, 2021 29:02 PM

        Yes, over time, even if there is a corrective move across all markets at one point, the metals and miners should continue to diverge higher than the general markets as time goes on the next 2-3 years.

        Jan 29, 2021 29:23 PM

        The divergence is with us far more than it isn’t despite all the noise to the contrary. For example, GDX is down something like 25% since topping in early August while the NASDAQ is UP by about that much during the same period. In other words, the NASDAQ has outperformed GDX by over 50%. The S&P and Dow are not far behind and all three have most likely topped versus the miners even if they haven’t versus the dollar.

    Jan 29, 2021 29:17 PM

    I just bought some Nevada Copper. They will be in production soon, if everything works out! Ha, Ha! DT

    Jan 29, 2021 29:36 PM

    Ref: Zero Hedge article: https://www.zerohedge.com/markets/robinhood-caps-maximum-holdings-36-stocks-just-one-share
    One of the stocks limited to Robinhood investors is MUX. This could potentially take away a bunch of demand for those shares, No?

      Jan 29, 2021 29:57 PM

      Robinhood is only shooting themselves in the foot by limiting investors ability to access stocks that they suddenly deem as too volatile, like (MUX) McEwen, and there will likely be an exodus out of Robinhood as a result.

      Regardless there are plenty of other trading platforms with access to MUX and other stocks Robinhood has closed the door on, which is obvious by the huge 32% spike in price yesterday, followed by a 20%+ pop in the premarket trading this morning in McEwen.

      I was thrilled to unload shares in the premarket for $1.46, (that I purchased down in the high $.90s to low $1.00s with a cost basis of $1.02) and then I bought those shares back at $1.29 later this afternoon. There were no issues in trading it on most of the trading platforms out there, and there were plenty of market participants in these stocks outside of the Robinhooders, so there is plenty of liquidity from the retail mobs. That was a huge move higher in McEwen in 2 days (with the high today at $1.50), for over a 50% move. It’s the most demand for MUX there has been in a long time.

      >> Check out the volume on the huge price moves higher in MUX the last 2 days. It is mega demand showing up. Now, whether it will persist into next week, remains to be seen, but it was a blast to trade MUX today.

      https://schrts.co/yMZbtDMg

        Jan 29, 2021 29:15 PM

        Now that MUX chart above is what a short squeeze looks like. Loving it!

          Jan 29, 2021 29:41 PM

          MUX still has a decent short position. I bought today at $1.30, see how it plays out nxt few weeks. Also bought GSV which Taylor Dart would be a buyer at 68 cents. It has a short float as well.

            Jan 29, 2021 29:25 PM

            Nice work Buzz. Yes, there is no doubt MUX has higher to run in this bull market, and I only scalped a quick gain in it during the premarket trading, but then bought it right back in the main trading session for a lower price. If it pulls back some after this move, it is fine by me, but it just nice to see some volume and interest in it once again. They also just put out a well-timed and encouraging operations report, which only further brought in more eyeballs and investors.

            _______________________________________

            (MUX) McEwen Mining: Progress Update
            @nasdaq on 29 Jan 2021

            https://ceo.ca/@nasdaq/mcewen-mining-progress-update

            Jan 29, 2021 29:31 PM

            Buzz – I also agree that (GSV) Gold Standard Ventures is a great value play gold developer at this point, and I believe it is a prime takeover target in the next 12-18 months, and had mentioned getting positioned it back at the end of the year on 12/29/20 @ $.72 and it shot up almost 11% today to wiping away most of the Jan pullback and closing at $.71. I believe GSV has a ton of upside value just based on their current ounces in the ground, and it is only getting more valuable the more they expand and develop the deposit. One of the big boys is going to come in and scoop them up at one point, even if they go it alone to get into production first.

    BDC
    Jan 29, 2021 29:13 PM

    SILVER: https://postimg.cc/7bwqNPWt
    Although elements of a Cup & Handle
    and Inverse Head & Shoulders are seen,
    stalling brings lower boundaries into play,

    Jan 29, 2021 29:28 PM

    Gold update?

    Is there anyone in here who still values my calls? If yes I will share with you and the ones who don’t care. Let me know.

    I have read through every comment today and to my conclusion, there is plenty of “Worry” and not to sure of what may happen. There is also have we bottomed have we not..

    The pattern in watching I assure you remains “ 100% intact” which is really gratifying as I speak. I’ve followed this pattern for quite sometime as you all know I’ve kept you in the loop. Regardless of up and downs i have been clear it’s nothing more then you and down back filling and increasing paranoia..The bears as we know currently have control but the bulls are about to drive the kill. It is all baked into the charts regardless of noise and that’s what I’m trying to share. Nothing has changed for me my charts remain the same and intact.. If I’m wrong I will let you know but no panic here.

    Let me know if anyone in here wants an update if not, all good! Respect to my boy Matt his charts are off the map and he has an act for knowing me lol. He also knows how to deliver the message much better then me. He is I believe one of the only ones in here who understand me.

    All the best!

    Glen

      Jan 29, 2021 29:51 PM

      Glennie, I ‘ve told you before that I appreciate your calls and the offering of any details relating to the upcoming movement we can expect to see on the metals. So, quit teasing me and just share.
      You’ve hit it on the last couple of calls, so I’m all ears.

      Jan 29, 2021 29:11 PM

      Lay them on us!

      Ann
      Jan 29, 2021 29:17 PM

      Yes absolutely!!!!

      Jan 29, 2021 29:42 PM

      Always interested Glen, no matter the bias or narrative.

      Jan 29, 2021 29:49 PM

      If, and this is a big if!, this squeeze gets real then that could move into the silver futures market where there are more calls for delivery than what is actually available. This could really create a price surege panic.

        b
        Jan 29, 2021 29:51 PM

        Looks like we could be on the verge of silver finally moving.
        Some people say the charts are telling,some say its the reddit or robin hood crowd, some people say its both.
        Take your pick.

        On the other hand, jp morgan could dump their what? 190 million onces? something like that.
        I forget the name but I read about a recent few billion once discovery.
        Maybe the fed goes short with their unlimited dollars.
        Who knows whats gonna happen?

        Personally, right now, Im not selling, Im gonna see what happens.

        Jan 29, 2021 29:04 PM

        Ozibatla, entertaining your thinking along the lines of a price surge, the challenge will be whether we will successfully sell out of a significant portion of our PM holdings while riding the wave upward, or we begin fooling ourselves into believing prices will continue rising (e.g., for another month or 30% additional increase), ultimately, hanging around too long to then enjoy the trip back down).
        Truthfully, I don’t have prices envisioned for my holdings in terms of when I should cash out. I hope I’ll be able to read the market signs and get out in time to enjoy a solid payout, but greed may get the best of me. If, and this is a big if! this squeeze gets real, then I’ll need to be extremely disciplined in order to peel off my holdings strategically, and leave a chunk in the race to ride it out.
        I’ve considered the same squeeze thoughts that you’ve posted here… as a number of others have probably done so as well…. it’s fun to dream.
        Good luck to all of us. 🙂

          Jan 29, 2021 29:47 PM

          Great comments Canuckski. Yes, knowing when to sell is always the challenge, and scaling out in tranches, strategically, is one of the best methods for smoothing out the volatility, and there is a sacrifice to make in any approach. Yes, investors could make the most money trying to hold their whole position until exiting around the absolute top; but that is very difficult. Personally it is much more important for longevity of trading and succeeding as an investor to work on locking in gains along the journey higher when things get too frothy and overbought for too long. Nobody ever got hurt taking a solid gain, but the risk is the opportunity cost of selling too early. That has to be countered with overall portfolio preservation of capital, so it helps to have basic personal goals and targets for what you’d like to make on any given trade, and then once those are achieved trim it back, anything else still left in the core position is just more funny money to the upside to keep journeying. Ever Upward!

          Jan 29, 2021 29:49 PM

          Yes Canuckski, good luck indeed! Discipline and a control of ones greed is imperitive here in the short term, particularly if a squeeze develops in earnest. Like you suggest, maybe hedging your bets and leaving some chips on the table is not a bad option. Especially if there is some good gains in the short term because as we all know, what often follows a melt up is a melt down.

      Jan 30, 2021 30:29 AM

      Dear Glen, I for one appreciate your updates. Keep them coming

    Jan 29, 2021 29:23 PM

    (AUN) (AUNFF) Aurcana Silver Raises C$34M Explains CEO Kevin Drover

    MiningStockEducation – Jan 28, 2021 #VIDEO

    In this interview, Aurcana Silver CEO Kevin Drover explains the purpose of the oversubscribed C$34M financing and why the company offered it at the terms they did.

    “Aurcana Corporation has 100% ownership of the world’s highest-grade silver mine (P&P): the Revenue-Virginius mine in Ouray, Colorado, USA. This fully-permitted mine will also be one of the lowest-cost silver producers in the world at only US$8/oz Ag (AISC) after byproduct credits. Aurcana is financed to production and expects to begin production in late Q2 or early Q3 this year.”

    https://youtu.be/hystAiBazZc

      Jan 29, 2021 29:49 PM

      Thanks to following Ex, I’ve reloaded my core position in AUNFF. With everything else percolating, (check out action in AAU & PZG), this & Lion 1 havnt done much

        Jan 29, 2021 29:39 PM

        Much appreciated Buzz. Yes, I’m still quite constructive on the new low cost production about to come from Aurcana’s Revenue-Virginius mine, and the very interesting exploration potential that they have all around that property, as well as the old Shafter mine in TX, currently on care and maintenance, that can be brought on after R.V. is up and cranking out the revenues, with that $8 AISC. (SVM) Silvercorp still has the lowest AISC at around $4-$6, but it is a much larger company in asset size, mine production, and market cap. What I like about Aurcana and Alexeco coming on board is that they are the US and Canada respectively as 2 very safe jurisdictions.

        I haven’t kept up with AAU or PZG, so appreciate you bringing that up to us. As for Lion One, I’m a big fan, expect big things, am excited about their exploration at depth at Tuvatu, and that they are moving forward towards smaller scale production in the next 2 years, to use those revenues to grow organically and keep exploring the rest of the caldera for adding resources to their growing alkaline deposit. Cheers!

    Jan 29, 2021 29:26 PM

    Despite the click-bait title of this video, I always enjoy getting market updates from Peter Hug, as he is a fair-minded analyst of both the fundamental and technical set ups.
    __________________________

    Can silver be short-squeezed to $1,000? Peter Hug

    Kitco News – Jan 29, 2021 #VIDEO Interview

    “Plans to short-squeeze silver to never before seen prices circulated on Reddit. Peter Hug, Global Trading Director of Kitco News, evaluates what it would take, hypothetically, for these plans to come to fruition.”

    https://youtu.be/2pIDNcHhhO0

      Jan 29, 2021 29:30 PM

      Stock Picks for Gold, Silver, Copper Miners & Royalties + 2021 Outlook – Gwen Preston Resource Maven

      Cambridge House International Inc. – Jan 29, 2021 #VIDEO Interview

      0:00​ Intro
      0:45​ Avoiding Noise in a Bull Market
      5:27​ Building Your Team to Follow
      8:43​ Silver Forecast 2021
      10:22​ Silver Pick
      11:43​ Copper Outlook
      15:21​ Battery Tech & Renewable Energy Metals
      17:22​ Royalty Companies & Picks
      22:18​ Gold Stock Picks

      https://youtu.be/Usgdq2M-bNQ

      Jan 29, 2021 29:40 PM

      Yeh this is clickbait as we all know this price is nigh on impossible to achieve in silver during a near term short-squeeze. Hug pretty much admits as much. Even a $100 would be extremely unlikely in such an environment. Mind you, thats not to say we wont see a good increase throughout PMs in the coming days.

      It seems to me this apparent Reddit movement will only last a matter of days at this stage so short term trading could be the way to go. Unless of course this band of individuals are hell bent on short squeezing silver and the miners with a large enough capital base to keep fighting the big players and banks in a tit for tat like scenario? Some of the comments I read on the Reddit feed from individuals included large buying in silver, gold and the miners to the tune of 6 figures plus. Whether this is legitimate or just a form of jawboning to help fuel the frenzy, who knows? But even jawboning can achieve some degree of success. As this is a new style of investing, waiting to see actions and reactions can be a good ploy. There remains alot of unknown in this scenario. Which perhaps explains a certain level of uneasiness creeping into the broader markets.

        Jan 29, 2021 29:49 PM

        Agreed 100% Ozibatla, and very well-stated. Yeah, I financial sights would quit leading in their headlines with people’s insane moonshot calls like $1000 silver, and come back to where things are at, and focus more on getting back above $29 Silver and into the mid $30s. I just really like Peter Hug, as mentioned above, and always will give his short to medium term outlook consideration.

        Again, Silver in the mid $30s would spike most of the mining shares in a big way, and the Silver Producers would be printing money at those levels. Also if Silver got up to $32 or $35, then all the Silver Developers would have projects whose economics (IRR, NPV, shorter payback period) would be spiking up on percentage terms.

        As mentioned last year, I believe 2021 is the year where Silver in the mid $30s is quite possible, and maybe even the low $40s. I’m all for bringing on the silver squeeze, but take all these shorter term gyrations with a grain of salt.

        Regardless, I expect to see continued outperformance in the Silver miners. The last 2 days have been great in so many quality stocks. More of that please…

          Jan 29, 2021 29:39 PM

          Yeh silver at $35 would be a great result for the miners. The silver squeeze could get us there early, if only for a brief period. I just dont want the subsequent pull-back to be too extreme and damage the longer term outlook.

          I dont mind Hug either abd quite often read his articles. Another one worth a read is Todd Horwitz as he gives the perspective of a trader and takes the emotion out of his narrative and only voices what his data shows. Also willing to admit when he gets on the wrongside of a trade which I respect

            Jan 29, 2021 29:09 PM

            +35. Yes, I’m fine either way, as longer term Silver is moving much higher than where it is priced today at $27+, and even at current prices the Silver miners are doing great. If Silver takes out the $29+ recent high and treks into the low to mid $30s, the silver miners are going to surge.

            It would be better to see a more orderly climb to that level where investor can digest the moves higher, and revalue the miners accordingly, than just a short lived rocket ride from squeezing the shorts (but that would still be a fun ride higher regardless). 🙂

            Yes, Hug is a solid guy, but I was surprised he didn’t realize just how large the short position in First Majestic was, which is why the generalist retail mobs targeted it. Yes, good ole’ Todd “Bubba” Horwitz is an interesting pro trader, and I check out his analysis from time to time. He cracks me up during interviews because he is so animated with his hand gestures into the camera, and so passionate. Good stuff!

      Jan 29, 2021 29:29 PM

      The Currency Reset Is Here | Gold, Silver, & Mining Stocks – Steve Penny (aka @SilverChartist)

      ILoveProsperity – Jan 29, 2021 #VIDEO interview

      “In this video we talk about what a currency reset could look like, the biggest signs that it has to happen eventually, the macroeconomic trends that are shaping our financial future. We discuss where Gold, Silver & Mining stocks come into play with this. As the currency reset grows and fiat currencies continue to devalue, we will see a steady rise in the price of Gold, silver & Mining stocks. Steve shares exactly how he is investing in gold & silver, how to buys physical bullion, mining stocks and more. ”

      https://youtu.be/3O3ifbOfYjA

    Jan 29, 2021 29:28 PM

    This is how you trade GameStop, AMC right now; how high could it go? Gareth Soloway

    Kitco News – Jan 29, 2021

    https://youtu.be/snTN7mOSxwY

      Jan 29, 2021 29:33 PM

      GameStop Mania Cannot Continue Warns Michele Romanow, Here’s Why

      Stansberry Research – Jan 29, 2021

      https://youtu.be/YGWIgi-IGxU

      The retail investor overtaking Wall Street hedge funds is not a trend that can continue, says Michele Romanow— Clearbanc founder, e-commerce investor, and star of CBC’s Dragon Den (Canada’s version of Shark Tank).

      “This is a continuation of trends we have seen during COVID and FinTech platforms have become so good,” Romanow tells our Daniela Cambone, revealing the reasoning behind the GameStop madness. Romanow also talks about the rise of e-commerce— growing ten years in 2020, 13% to over 30% in the U.S. alone. “This is a big secular change, these changes are here to stay.”

        Jan 29, 2021 29:35 PM

        Portnoy: Everyday People Got ‘Cheated’ In Order To Protect Hedge Funds

        Jan 29, 2021

        “Barstool Sports founder Dave Portnoy slams Robinhood for restricting GameStop trading.”

        https://youtu.be/UaPgBtf5m6w

          Jan 29, 2021 29:42 PM

          At least the media has pivoted to talking about investing and there is a large new batch of retail traders, including the millennial investors that up until last year had showed little interest in speculating, and now with everyone stuck at home, people are at least getting trading accounts opened in record numbers and starting to invest in their futures. Overall that is an encouraging sign, especially if some of them eventually find their way over to resource stocks like what we’ve been seeing the last few days.

          Even Joe Rogan is covering the coordinated blocks of investors using social messaging to dog pile into hot stocks of the day…

          _____________________________________________

          The Gamestop Stock Situation

          PowerfulJRE – Jan 29, 2021

          https://youtu.be/Bya-t5yhwa0

            Jan 29, 2021 29:33 PM

            GameStop Action Spills Over Into Precious Metal Sector – w/ David Morgan

            Sprott Money Weekly Wrap Up (01/29/2021) #AudioInterview

            “It’s been a historic week in the markets, and precious metals are benefitting. Host Craig Hemke sits down with renowned silver expert David Morgan of themorganreport.com to break down all the gold and silver news you need to understand what the current price surge could foreshadow for the weeks ahead.”

            In this edition of the Weekly Wrap-Up, you’ll hear:

            – Why the “run to gold” is now a “run to silver”
            – Should you buy physical or paper?
            – David’s thoughts on the miners.

            https://www.sprottmoney.com/blog/GameStop-Action-Spills-Over-Into-PM-Sector-Weekly-Wrap-Up-Jan-29-2021

    Jan 29, 2021 29:59 PM

    Great thoughts in today’s editorial with John Feneck, and I really resonate with his strategies and sector thoughts on Gold, Copper, Palladium/Platinum, and Nickel.

    I also own Fury Gold (and just bought more today), as well Generation Mining and Group Ten Metals for the Palladium/Platinum/Copper/Nickel exposure, out of the ones he mentioned, and have been taking a look at Palladium One, after David, here on the blog, had discussed it.

    I also have a nice position in Golden Minerals (AUMN) that John mentioned in his last interview (that I sold in a spike early today, and then repurchased is for $.10 lower share just a few hours later). I also trimmed (MUX) McEwen mining in the pre-markets, as mentioned on yesterday’s blog, and then repurchased that tranche again this afternoon for a much better price, for a nice trading scalp.

    Overall John is a great guest to have keep coming on the KE Report, follows quality companies, has a very sensible approach to trading and harvesting gains, and has great insights on the macro markets. Good Stuff!!

    Jan 29, 2021 29:51 PM

    If, and this is a big if!, this squeeze gets real then that could move into the silver futures market where there are more calls for delivery than what is actually available. This could really create a price surege panic.

      Jan 29, 2021 29:04 PM

      As I mentioned yesterday, it would be nice if Eric Sprott and some of his buddies threw a few more logs on the fire in the Silver futures markets, but I agree with the interview with Peter Hug where the interviewer, David, mentioned it was more likely that the retail mobs will have more success in pushing up highly shorted silver stocks instead, like what we’ve seen in First Majestic, McEwen, Endeavour, and Excellon the last 2 days. This just begets more buying in the sector, and there is a scramble for more retail investors to get positions in front of more buying, and as a result we saw large moves up in most of the quality Silver name yesterday and into this morning, but the gains did fade into this afternoon, as the profit taking took over. Can’t say that I blame folks for pulling well-deserved profits, but overall it is those kinds of money flows into the small niche sector of Silver miners that can really move the needle in a meaningful way, and then the pricing trend gets established and brings in even more buying, feeding on itself.

        Jan 29, 2021 29:31 PM

        Agreed Ex. The short exposure is where these retail mob are going and yes you cant blame them for taking profits that are realised quickly for little risk. If Sprott did stoke the fire, that sure would be interesting.

    Jan 29, 2021 29:51 PM

    That comment posted twice. Not sure why.

      Jan 29, 2021 29:12 PM

      +2 It was double good is why Ozibatla. Thanks for sharing your insights sir!

        Jan 29, 2021 29:33 PM

        No problems Ex! Interesting times ahead in the short term I think.

          Jan 29, 2021 29:51 PM

          🤑🤑👍👍💰💲💸

    Jan 29, 2021 29:01 PM

    Here is one of the Reddit blogs regarding Gold circulating out there in the investor-social media circles… It is interesting to see generalist investors finally engaging in these kinds of discussions and waking up. Longer term, the monetary metals may have just found a new crop of investors, which is good news for the whole sector.

    _______________________________

    Big Banks Created A Whack Of Futures Contracts Against Gold Yesterday… Perfect Storm brewing?

    Reddit – w/ERA of Gold – Jan 29 2021

    > GOLD News: As pointed out by @GoldVenture on Twitter…

    “Yesterday, Goldman Sachs and JP Morgan created 8900 and 5729 future contracts out of thin air or a 41.7 TON gold (!) position for 2.7 billion.”

    “Unbelievable they would do this in an environment, where we saw GameStop surge the way it did as the WallStreetBet crew recognized the opportunity to squeeze the hedge funds after they publicly announced their short positions.”

    “It begs the question, as tweeted: <-"

    "2008… Banks were on the wrong end of mortgage-backed securities."

    "2021… Will the banks be on the wrong end of the precious metals market?"

    https://www.reddit.com/r/TheERAOfGold/comments/l86yvf/big_banks_created_a_whack_of_future_contracts/

      Jan 29, 2021 29:27 PM

      Yeh this is interesting. Its almost as if wallstreetbets are daring the big boys to make their next move. I suppose this forum is backing themselves in to garner enough support to retalitate against the shorts, at least in the short term (no pun intended). A case of who blinks first! I recon Monday could be interesting as there is potentially 2 days of pent up money waiting to enter.

    Jan 29, 2021 29:14 PM

    Gold Miners’ Q4’20 Preview

    Adam Hamilton – Jan. 29, 2021

    “The major gold miners’ upcoming Q4’20 financial and operational results ought to prove spectacular. Average prevailing gold prices last quarter stayed at their second-highest levels ever despite gold’s healthy correction.”

    “Meanwhile gold production likely continued rebounding after 2020’s lockdown disruptions, which should proportionally lower all-in sustaining costs. That will make for enormous profits.”

    “Even if we assume flat gold output and stubbornly-high AISCs, the major gold miners should still report their highest unit earnings ever witnessed.”

    https://seekingalpha.com/article/4402097-gold-miners-q420-preview?mail_subject=adam-hamilton-gold-miners-q4-20-preview&utm_campaign=rta-author-article&utm_content=link-0&utm_medium=email&utm_source=seeking_alpha

      Jan 29, 2021 29:32 PM

      Not saying this will definitely happen but I recon we are a chance of seeing $30 silver in the first two days of next week. If that were to occur, technically we have some clear air to continue moving until mid 30s. Such a move would bring about a swift correction I recon.

        Jan 29, 2021 29:38 PM

        Yes, it will be important to see if this was just a fleeting relief rally pop the last few days, as some new buying did flood into select stocks, or if we are going to see follow through buying in both the metals and miners next week and get more of an uptrend established.

        If Silver does get pushed from $27 to $30 next week, then that would be a really big move, and yes that would really energize the miners in a major way. Heck, I’d be thrilled with $28 or $29 Silver and that would still be gaining upward traction, and the miners could more easily digest the gains and get rerated higher accordingly.

        We’ll see how it goes….

    Jan 31, 2021 31:24 AM

    What happened to the weekend post………..Cory take it down?

      Jan 31, 2021 31:56 PM

      It’s back up.

    Jan 31, 2021 31:57 PM

    This is a test comment. I am trying to find out if I need to be registered to comment.