Steve Penny - The SilverChartist – Mon 22 Feb, 2021

Introducing Steve Penny, The SilverChartist – Silver, Gold and the opportunities in the stocks

I’m very happy to introduce Steve Penny, Founder and Publisher of the SilverChartist website. I have been very impressed with Steve’s analysis and research into specific metals companies. Since this is the first time having Steve on the show I have his provide his outlook for gold and silver as well as drive down to the stocks. We discuss the outperformance of silver miners compared to gold miners and where he sees opportunity in the sectors.

I hope you all enjoy this conversation with Steve. I will be having him back on the sow on a more regular basis so be sure to send me any follow up questions for Steve.

Click here to visit the SilverChartist website and sign up for Steve’s free email list. That is the best way to get a handle on Steve’s research.

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Comments:
  1. On February 22, 2021 at 3:34 pm,
    Steve Penny says:

    Cory, Thank you for inviting me to be a guest. It was a pleasure speaking with you and sharing some thoughts with your audience!

  2. On February 22, 2021 at 3:35 pm,
    Excelsior says:

    It’s great to have the @SilverChartist here on the KER, and I enjoy both his fundamental comments as well as his Technical Analysis on the metals and mining stocks.

    • On February 22, 2021 at 3:42 pm,
      Excelsior says:

      Here are about a dozen company charts that Steve put out as a guest host on Jake Ducey’s (I Love Prosperity) youtube channel last Friday, on some of the trending Silver, Gold, Royalty, and Uranium stocks.

      ___________________________________________

      Gold Price Is Falling, Here’s Why And Where Precious Metals Are Going

      ILoveProsperity w/ guest Steve Penny (@SilverChartist)

      https://youtu.be/w8RVZ50-478

      • On February 22, 2021 at 4:52 pm,
        Excelsior says:

        This Investment Will Be The Best Bull Market In The 2021 – Uranium Investing Explained

        ILoveProsperity w/ Jake Ducey – Feb 22, 2021 #VIDEO

        “Could this investment become the #1 bull market in the 2021 stock market? Today’s guest breaks down exactly how the Uranium bull market works, why it’s for real, and where it is going in 2021 and beyond. The Uranium thesis can be a pretty hard one to understand, but Yellow Bull sent me this perfect Uranium investing thesis and I wanted to bring him on to discuss the ins and outs of the Uranium bull market.”

        https://youtu.be/NIEfH2Wu-Ak

    • On February 22, 2021 at 4:27 pm,
      Steve says:

      Thx, Excelsior!

      • On February 22, 2021 at 9:10 pm,
        Excelsior says:

        Glad to you have your insights here at the KE Report Steve. Keep up the great work!

  3. On February 22, 2021 at 3:59 pm,
    Excelsior says:

    Overall it was a very solid day in the PM sector, with Gold continuing to bounce, Silver back up with a $28 handle, and many miners ripping higher.

    GDX closed up 4.49%
    GDXJ closed up 5.63%
    SIL closed up 6.49%
    SILJ closed up 8.22%

    It is always nice to see the Silver stocks outperforming the Gold stocks, and for the Juniors to be outperforming the Seniors.

    • On February 22, 2021 at 4:33 pm,
      Excelsior says:

      Nice to see every Silver producer up in the green today to kick off the week.

      Symbol – #Silver #Producers – Daily Change %

      ASM Avino Silver & Gold Mines Ltd. +16.06%
      CDE Coeur Mining, Inc. +15.58%
      GATO Gatos Silver, Inc. +15.08%
      HL Hecla Mining Company +13.30%
      AYA.TO Aya Gold & Silver Inc. +12.80%
      AG First Majestic Silver Corp. +12.29%
      EXN.TO Excellon Resources Inc. +11.56%
      FSM Fortuna Silver Mines Inc. +10.55%
      EXK Endeavour Silver Corp. +10.28%
      SBR.TO Silver Bear Resources Plc +9.09%
      GPL Great Panther Mining Limited +8.83%
      IPT.V Impact Silver Corp. +8.70%
      SVM Silvercorp Metals Inc. +8.51%
      PAAS Pan American Silver Corp. +6.68%
      SCZ.V Santacruz Silver Mining Ltd. +6.67%
      AXU Alexco Resource Corp. +5.38%
      GGD.TO GoGold Resources Inc. +5.37%
      USAS Americas Gold and Silver Corporation +4.98%
      SSRM SSR Mining Inc. +4.71%
      SMTS Sierra Metals Inc. +4.61%
      FRES.L Fresnillo Plc +0.59%
      HOC.L Hochschild Mining plc +0.19%

      • On February 22, 2021 at 4:49 pm,
        Excelsior says:

        The Silver developers and explorers were out of the gates running today as well.

        Symbol – #Silver #Developers and #Explorers – Daily Change %

        EQTY.V Equity Metals Corporation +31.82%
        BHS.V Bayhorse Silver Inc. +28.57%
        ASL.V Argentum Silver Corp. +28.21%
        DV.V Dolly Varden Silver Corporation +17.39%
        MMG.V Metallic Minerals Corp. +16.92%
        ABRA.V AbraPlata Resource Corp. +15.85%
        VAL.AX Valor Resources Limited +14.29%
        TNO-H.V Terreno Resources Corp. +12.50%
        CMB.V CMC Metals Ltd. +12.50%
        IVR.AX Investigator Resources Limited +12.09%
        RYO.V Rio Silver Inc. +11.76%
        SSV.V Southern Silver Exploration Corp. +11.58%
        DEF.V Defiance Silver Corp. +11.43%
        ARD.AX Argent Minerals Limited +11.27%
        BCM.V Bear Creek Mining Corporation +11.24%
        AGH-H.V Canadian Silver Hunter Inc. +11.11%
        KS.V Klondike Silver Corp. +10.71%
        CCM.TO Canagold Resources Ltd. +10.53%
        GOG.V Golden Tag Resources Ltd. +10.47%
        MSV.TO Minco Silver Corporation +10.20%
        SNG.V Silver Range Resources Ltd. +9.80%
        VGLD.V Vangold Mining Corp. +9.52%
        BNCH.V Benchmark Metals Inc. +9.35%
        ANZ.V Alianza Minerals Ltd. +9.09%
        AAG.V Aftermath Silver Ltd. +9.02%
        VZLA.V Vizsla Silver Corp. +8.22%
        BRC.V Blackrock Gold Corp. +8.11%
        AUN.V Aurcana Silver Corporation +7.95%
        RSLV.V Reyna Silver Corp. +7.83%
        SVB.TO Silver Bull Resources, Inc. +7.23%
        FAT.CN Far Resources Ltd. +6.82%
        UFO.L Alien Metals Limited +6.67%
        SDR.V Stroud Resources Ltd. +6.67%
        DSV.V Discovery Metals Corp. +6.43%
        MAG.TO MAG Silver Corp. +6.32%
        KTN.V Kootenay Silver Inc +6.25%
        TM.V Trigon Metals Inc. +5.88%
        GRSL.V GR Silver Mining Ltd. +5.63%
        SVG.V Silver Grail Resources Ltd. +5.56%
        CCW.V Canada Silver Cobalt Works Inc. +5.56%
        NBR.V Nubian Resources Ltd. +5.15%
        CD.V Cantex Mine Development Corp. +5.15%
        WRM.AX White Rock Minerals Ltd +5.13%
        AHNR Athena Gold Corporation +5.00%
        SVE.V Silver One Resources Inc. +4.76%
        TUF.V Honey Badger Silver Inc. +4.76%
        ASLM American Silver Mining Co. +4.69%
        BNKR.CN Bunker Hill Mining Corp. +4.48%
        SLV.CN Silver Dollar Resources Inc. +4.37%
        AZT.V Aztec Minerals Corp. +4.35%
        SVL.AX Silver Mines Limited +4.17%
        BBB.V Brixton Metals Corporation +4.00%
        MMN.V Monarca Minerals Inc. +4.00%
        KUYA.CN Kuya Silver Corp. +3.85%
        SIL.TO SilverCrest Metals Inc. +3.60%
        CLZ.V Canasil Resources Inc. +3.45%
        ELEF.TO Silver Elephant Mining Corp. +3.37%
        SMI.AX Santana Minerals Limited +3.23%
        FCO.V Fabled Silver Gold Corp. +3.03%
        MTR.L Metal Tiger plc +2.86%
        REX.V Orex Minerals Inc. +2.70%
        VRR.V VR Resources Ltd. +2.60%
        AZS.V Arizona Silver Exploration Inc. +2.50%
        VIPR.V Silver Viper Minerals Corp. +2.22%
        G1A.AX Galena Mining Limited +1.43%
        CDPR.CN Cerro de Pasco Resources Inc. +1.32%

  4. On February 22, 2021 at 4:24 pm,
    Excelsior says:

    With many of the PM stocks up so nicely today, I decided to do a little trimming back of a few positions (CDE Coeur, BHS Bayhorse, NVO Novo, DV Dolly Varden, ANX Anaconda) just to raise even more dry powder for a rainy day. At the end of the trading session, I also took out a small portfolio hedge position in JDST, just in case some of this move higher in the miners gets given back tomorrow or later in the week, as some still expect to play out.

    Also, I sold my very last crypto miner, HODL Cypherpunk Holdings this morning, to pull profits, as it looked like Bitcoin, Ethereum, and the other altcoins were topping and rolling over, and I don’t want to overstay the welcome at the party.

    At this point I don’t have any crypto exposure, and feel a bit naked after going from trading GBTC Grayscale bitcoin trust for last part of 2020 into January, and then after Bitcoin dropped from $40K to $30K, I decided to get positioned into 4 of the crypto miners (Argo Blockchain, Hive Blockchain, Coin Citadel, and Cypherpunk Holdings).

    After a rally like we’ve seen the last few months in so many sectors, and with speculation reaching such frothy levels, it seems prudent to move more funds to the sidelines, and await some pullbacks in various sectors.

    • On February 22, 2021 at 6:20 pm,
      David says:

      Ex:
      Will you adopt me?

      • On February 22, 2021 at 6:26 pm,
        Excelsior says:

        That depends… How good are you at doing housework and landscaping? 🙂

        • On February 22, 2021 at 7:40 pm,
          David says:

          Define good..

          • On February 22, 2021 at 9:02 pm,
            Excelsior says:

            Good = You do all the housework & landscaping, with only 5-10% of items damaged, without anyone losing any major bodily limbs. If you can say yes to that, then yes, you’re adopted.

            P.S. – If we are on a family vacation road-trip, and you ask are we there yet? then we’ll need to consider turning the car around…. Haha!

          • On February 23, 2021 at 10:59 am,
            David says:

            I am rethinking everything…possibly sorry I asked…

          • On February 23, 2021 at 10:57 pm,
            Excelsior says:

            🙂

        • On February 22, 2021 at 7:45 pm,
          OOTB Jerry says:

          How much work, is needed in that mobile home……lol…. are the bushes in pots…. lol

          • On February 22, 2021 at 9:07 pm,
            Excelsior says:

            Haha! OOTB, we were only in that mobile home for 2 weeks as we crossed the country in our 2nd phase of the move. We had to bring out plants, pets, and all the stuff we couldn’t fit in the first moving truck, and decided to tour 9 different states and visit a bunch of national, state, and regional parks and camp out in gorgeous landscapes.

            Right now we are just renting a little 4 bedroom, 2.5 bath home, until we birddog a good real estate short sale in the next year or so. I’m waiting to see if we get a big market dislocation in the next 12 months, that crashes the system, crashes home prices, and creates more financial uncertainty. At that point then I’ll look to buy a short sale property, or a pre-bankruptcy rescue home for pennies on the dollar, when there is blood in the streets.

          • On February 23, 2021 at 6:58 am,
            OOTB Jerry says:

            :)….. Good idea on the real estate …. change is on the way…

          • On February 23, 2021 at 8:18 am,
            Excelsior says:

            The Byrds – “The Times They Are A Changin'” – 10/4/65

            https://youtu.be/uq4pe0cKQc0

    • On February 23, 2021 at 6:57 am,
      Marty says:

      I reduced as well EX,almost 6%, been in this sector since 1997, and all in in 2001. When you see 11, 14.5, 22 & 50%, you must learn to take money off the table. Yesterday was a good example, but nor quite as robust as Jan 4, and Feb 1. Yes, the Wall St SESSPOOL IS CORNERED, so they will MADOFF as best they can the following day. So being prepared going into the opening on highly expected up days is key. As is the day following , as today, down

      • On February 23, 2021 at 8:05 am,
        Excelsior says:

        Agreed Marty, and very well-stated. One of the characteristics of those that have longevity in the markets is having the discipline to take profits along the journey to lock in gains, when others are irrationally exuberant, and to buy when other are irrationally pessimistic.

        I woke up today to check the markets and was glad I had liquidated the last of my crypto stocks yesterday morning, as they are really pulling back hard today. Also, I was glad to have taken out the small JDST position for a hedge trade, as it is up today when some miners are down. As for the other positions I trimmed yesterday, they’re available at a better cost basis today, if I want to buy any of those back.

        Volatility is a traders good friend, as it’s hard to make money trading in flat markets and the whipsawing up and down is what allows folks the opportunities to buy low and sell high. Rinse and repeat.

  5. On February 22, 2021 at 4:53 pm,
    cfs says:

    Thanks, Ex….I bought some DOLLF today.

    GXSFF:
    Goldsource Announced Updated Mineral Resource Estimate for Eagle Mountain Project; MRE Expanded to 848,000 Ounces of Gold (Indicated Resource) and 868,000 Ounces of Gold (Inferred Resource)

    • On February 22, 2021 at 4:58 pm,
      Excelsior says:

      Nice CFS. I’m a big fan of Dolly Varden, and just trimmed back about 20% of the position, because it was getting to be bigger than a few silver producers I hold, and it had a really nice double-digit move higher today. I plan on holding the remaining 80% core position for the duration of the bull market, or until a larger producer, like Hecla, takes them over.

      • On February 22, 2021 at 9:46 pm,
        Excelsior says:

        Silver Squeeze Is Very Real and It’s Happening, Despite Price Reflection: Vince Lanci

        Stansberry Research – Feb 22, 2021

        Where does the silver price go from here? “We’re in the process of a short squeeze right now, even though it’s not showing up in the price,” Vince Lanci shares with DanielaCambone. “There are serious shorts in the silver market. This is not done.”

        https://youtu.be/3XGQjspnwcM

  6. On February 22, 2021 at 4:54 pm,
    Excelsior says:

    Bitcoin Beyond $50,000: Crack-Up Boom in Bloom Says Ronnie Stoeferle

    Stansberry Research – Feb 22, 2021 #VIDEO

    “We use the volatility of Bitcoin to our advantage, says Ronnie Stoeferle, managing partner for Vienna-based Incrementum. “The price is going up because the price is going up” is how he sums up the rapid rally of the crypto. He explains that Bitcoin north of $50,000 is a prime example of the “Crack-Up Boom” theory, formulated by Austrian economist Ludwig von Mises. “It seems that people are losing confidence in paper money and, from my point of view, it’s a very dangerous market environment we are seeing.” Stoeferle adds, “Many don’t remember the taper tantrum that former Fed Chair Ben Bernanke faced… if we should have a second taper tantrum, this will make 2013 look like a kindergarten party.”

    https://youtu.be/5xkEdb73OKY

  7. On February 22, 2021 at 8:47 pm,
    markedtofuture says:

    Celebrating: Bitcoin.Black now has 1,000,000 members!

    https://www.youtube.com/watch?v=Nljjme8oyA0

  8. On February 22, 2021 at 9:31 pm,
    Excelsior says:

    (This video has some precious metals market fundamentals in the first half, but the 2nd half is the most complete history of how Quinton Hennigh formed Novo Resources, that I’ve ever seen & heard. He goes through his early days a geology student studying the Wits deposit, to flying out to Australia with Bob M., to how he assembled the land positions, to Beatons Creek, to Karatha, to their recent first gold pour. This is the Novo Deluxe version).

    _______________________________________________

    Crescat Gets Activist on Gold #21 (Novo Resources)

    Feb 18, 2021 #VIDEO

    https://youtu.be/oxvz-QRmFhA?t=786

  9. On February 22, 2021 at 9:37 pm,
    Excelsior says:

    Yields Reach ‘Tipping Point’; Gold, Stocks Ready For ‘Rebellion’ Says Alain Corbani

    Kitco News – Feb 22, 2021

    “Gold has remained under pressure as nominal yields continue rising on expectations for an improving economy, but with the U.S. 10-year nominal yield reaching 1.35%, a “tipping point” is about to be reached where the Federal Reserve needs to intervene in the open markets to cap rate increases” said Alain Corbani, portfolio manager of Finance SA.

    0:00​ – Gold does not move up in straight line
    4:56​ – Rate normalization vs. re-adjustment
    8:13​ – What happens to gold if the Fed raises rates?
    9:58​ – Real interest rates vs. gold
    12:43​ – Real interest rate direction
    15:56​ – Inflation expectations
    18:33​ – Gold price outlook

    https://youtu.be/PV1yRqSde-8

  10. On February 22, 2021 at 9:50 pm,
    Excelsior says:

    Markets and Commodities Q&A Session with Rick Rule – Feb 2021 VID Conference

    FTMINVEST – Feb 22, 20221

    00:00​ – Introduction
    01:16​ – Thoughts on Recent Inflationary Data
    05:37​ – Thoughts on U.S. Stimulus Program
    07:05​ – Situation in Texas and Impacts on Renewables
    11:20​ – Social Media, Reddit and the Silver Squeeze
    14:54​ – Irrationality of Market Buying
    18:19​ – Will the U.S. End up Like Japan or Argentina
    19:17​ – Best Performing Commodity in Next 4 Years
    21:17​ – Questions on Uranium / Past Performance
    23:35​ – How Long Will Pandemic Affect the Economy
    25:00​ – Why Are Markets & The Economy So Disconnected
    27:03​ – What Assets & Sectors Have the Most Downside in Near Term
    29:03​ – Is Rick Bearish on Any Commodities?
    30:55​ – Thoughts on Junior Miners and the Royalty Space
    33:22​ – Thoughts on BitCoin & Blockchain, Effect on Gold
    36:45​ – Are There Too Many ETFs?
    39:02​ – Are Markets on the Verge of Bursting? Thoughts on SPACs
    39:59​ – Thoughts on Consolidation in Commodities Space
    41:15​ – Is It Too Late for New Investors to Get Into Commodities?
    46:14​ – Concluding Discussion

    https://youtu.be/gsqPXzjiXhE

  11. On February 23, 2021 at 3:49 am,
    BDC says:

    Tuesday STATS: https://ibb.co/k9JD1f2
    Added JDST (toggle JNUG) for day traders.
    Today featuring Grand Daddy Newmont (NEM):

    • On February 23, 2021 at 3:51 am,
      BDC says:

      https://postimg.cc/sGzLVQPY
      ATL: 6.21 (Mar 1978) — ATH: 81.92 (Sept 1987)
      19 Feb CW(F) Bottom: 56.01 — ABCD(1:1): 55.87
      (No method is flawless. Please use stops.)

  12. On February 23, 2021 at 5:41 am,
    BDC says:

    TLT Bottoming?
    Target Range: 141.15 – 141.36
    https://postimg.cc/gallery/SJcSHsv

  13. On February 23, 2021 at 6:03 am,
    Dick Tracy says:

    I wonder who will step into the breach when Bitcoin and the crypto’s start rolling over headed for money heaven. I dare say if the bakers and Musk do not more than one concern will face insolvency. Mr. Musk your face looks white is Bitcoin on your mind! LOL! DT

    • On February 23, 2021 at 6:05 am,
      Dick Tracy says:

      bakers should be bankers, I guess I figured they will be cooked soon enough. DT

      • On February 23, 2021 at 6:56 am,
        OOTB Jerry says:

        Shake and Bake……….. cryptos going higher……Musk, will be traveling to Mars, so, he will be taking the bitcoin,coin box with him.., Understand Yellen , has decided to back the treasury notes with bitcoin…..LOL…..(just kidding)

        • On February 23, 2021 at 8:15 am,
          Excelsior says:

          Haha! Yes, Musk is taking a “monster box” of Bitcoin with him to Mars… to build a new future.

          It is quite interesting to see more and more companies like Microstrategies, Square, Tesla, etc…. adding Bitcoin to their corporate treasuries as one form of storage, to get out of the fiat. They are losing purchasing power by holding dollars, and know it, so some will opt for Bitcoin, and that is a trend that will continue to gain traction.

          However, the volatility in Bitcoin is still quite high, and that may shy some companies away, until it starts to become more stable and have less dramatic swings. It’s interesting to think that last fall Bitcoin was $10k, then it took out the all time high at $20K, then it surged to $40K in January, then dropped to $30k, then was up to $57.5K over this last weekend, and today is back down to $48K. That is still far too wild of a ride for most companies to place too big of a bet in the cryptoverse, but it makes it incredibly fun to trade as a speculative asset class.

          https://www.coinbase.com/price/bitcoin

    • On February 23, 2021 at 6:12 am,
      BDC says:

      Father Gold and Mother Silver!
      https://www.youtube.com/watch?v=xag5RKD0VHk

  14. On February 23, 2021 at 9:03 am,
    Marty says:

    7K – ELRRF – $2.80. BUY

    • On February 23, 2021 at 10:25 am,
      Excelsior says:

      Nice pick-up in Eloro Marty. Wow, it sold off hard on todays exploration results. I don’t have a position yet, but it is tempting to consider when we see smashdowns like today. I may wait to see if there isn’t more weakness to come in the following days, but it looks like you scooped up a nice add at that price, as the OTC ticker ELRRF is back up to $3 again.