Doc weighs in on the US markets and gold
Doc joins me today to share his outlook for the US markets and gold. We start with the markets and a focus on the charts. When it comes to gold we discuss the downtrend, where Doc sees the bottom being for gold, and the gold stocks that he thinks will bounce back the strongest.
Bonzo – apart from TLRS and Eskay are there any other miners that have the similar risk reward of NuLegacy. I’m also concerned there’s nothing much there as it’s strange they’re kind of talking away from the Anticline to that lower section.
Bonzo, it seems like an eternity that I’ve held NULGF. If we get back below $.10 I might purchase another 1 million shares. I’m starting to feel inspite of Mr. Henngh’s narration that I may be trying to draw to an inside straight.
Doc, I doubt that NULGF will drop below 10 cents with drilling about to start in 2 weeks. If it should I’ll buy another 100 shares. I think our patience will be rewarded this year.
I have a good feeling about NULGF, ESKYF, NSRPF, ELRRF, NFGFF, NKOSF, IRVRF and GOTRF.
Goliath, on that list above, has really been ripping higher since last fall. It’s one of my 3 picks in the ceo.ca contest this year, but more importantly, it’s been one of the exploration lottery tickets I picked up that has paid off nicely. While I’m still bullish on Goliath’s prospectivity and exploration potential, I decided to trim back some of the position this last Monday 03/15/21.
Good thoughts today from Doc on both the general markets and gold using the longer term monthly charts for direction. Thanks guys!
Ray Dalio thinks The Fed might outlaw gold and the movement of capital in order to control bond yields like they did in from 1930-45.
It’s always possible that gold or bitcoin or anything could get outlawed, but that would be a pretty drastic step for them to take, and it seems unlikely at this point; unless things degrade much further. With the general markets doing well, inflation and interest rates rising, its most likely the FED will just keep the status quo at tomorrow’s meeting, and possibly hint at tools they still have for addressing the bond markets and moving some of their buying more towards the longer end of the yield curve if needed (like a new Operation Twist). Also, with all the new stimulus just hitting this week, they are going to want to watch and be “data dependent” before they announce anything earth-shattering. Really until the general markets throw a tantrum, the Fed will likely just let things just keep unfolding as they have been, as there is nothing on fire at the moment, and they won’t react until they feel more heat…
Gold Buying Will Increase When Inflation Really Takes Off – Nikolas Matysek
ILoveProsperity (w/ Jake Ducey) – Mar 16, 2021
John Adams: Too Much Debt & No Going Back
Palisades Radio – Mar 15, 2021
“John discusses his recent article on the Bond Market and Silver and outlines the rampant money printing occurring globally. We see a 1.9 trillion dollar stimulus in the US along with a climate change package and numerous executive orders. Besides, they are planning increases in the minimum wage and higher taxes, all of which will have an economic impact.”
“Bonds have been moving in recent weeks due to ongoing inflation concerns. He explains the Australian government’s actions to manage the markets and other assets like equities and metals.”
“We are in the most giant debt bubble in the world’s history, and it could lead to a global meltdown. Every time we have had a crisis, central banks have intervened with more liquidity, and no politician has stepped in to prevent it. The entire system is continuing to blow up debt bubbles, and the more concerning element is that central bankers are now effectively taking over governments.”
Michael Gentile: Gold Thesis is Simple, There’s Too Much Debt
Investing News Network – Mar 16, 2021
“Gold’s price activity so far in 2021 has left some investors concerned, but strategic investor Michael Gentile believes the long-term outlook for the yellow metal is clear.”
0:00 – Intro
0:18 – Michael’s background in the resource space
1:35 – Identifying junior miners with potential
3:12 – Takeover targets vs. going solo
5:19 – 6 attributes to look for in a junior miner
8:42 – Rule #1 in mining — don’t run out of money
10:24 – Outlook for financing for juniors this year
12:24 – M&A potential for mining stocks in 2021
14:40 – Why Michael is bullish on gold right now
16:58 – Timeline for a gold price rise
18:38 – What’s the path forward for investors?
21:29 – Watch bubble-like market behavior
Ex, Did you see this, Galane Gold announces acquisition of summit mine in New Mexico.
Hi DT. Yes, I saw the news and am invested in Galane Gold, noted on the other blog that it’s the 5th acquisition we’ve seen in the gold space in the last 2 weeks. M&A is heating up…
Doc, what about silver? What is the level you think silver will go to and the time frame? Is the time frame for gold in the low 1600’s between April and May?
Markets(active): https://tinyurl.com/3fjs3ex8
This is short term. Doc’s calls are longer term.
Metals(active): https://tinyurl.com/h3sa9xb7
Copper and Lithium fell out. No MaxSat(7) yet.
Pardu, I’ve mentioned this in the past—-I think silver moves down to the $23.00-$23.50 area—if that happens I can then try to see based on technicals what I think at that time. Yes, I would say gold in the low 1600’s in the April time frame. I wouldn’t be surprised to see gold go fairly quiescent here and slowly trade up and down with a preference for lower lows. What we don’t want to see is gold breaking below the lower downtrend of the beautiful wedge it has formed. Some would say we’re in a decreasing bullish wedge and if that is true that’s very bullish since it’s happening in a longer term chart. If you look at the 2011-2012 gold chart, you had a double top form which was very negative for gold and we know what happened after that—wandering in the desert for a number of years. We haven’t seen that happen so far this time and that’s another variable reassuring us we are still in a long term bullish pattern. The longer we go without double topping the more positive it becomes.
Doc if gold does correct to 1600/1620 area were do you see Gdx bottom?
Can you share any stocks that your watching that might be on fire sale you mention?
Thanks
Paul, I think GDX has a good probability of bottoming in the 28-29 range—I would love to have Cory get Rick Ackerman on so he can update his view where he thinks they bottom—I rarely put out an exact number like Rick since he has a system for that and I don’t. I look at major trends and other variables to give a general bottom. I like SAND and EQX in particular—I sold AUY a long time ago and it’s now coming back. I hope to repurchase in the 3.5-4 range. Excelsior in my book could come up with even a larger list.Another one is HMY which I would like to purchase sub 3.5—-I sold a large portion of my holdings on this one while ago.
Thanks Doc. Agreed on SAND and EQX being quality on sale. Yes, I’ve got a few lists… 🙂
AAU is beginning to break down—-I owned and sold on its’ run—Hope to purchase sub $.50.
Does anyone know NVGLF at all? Peter Ball CEO and QH an advisor.
This is interesting…. UEC is buying up a bunch of Uranium and adding it to their asset mix.
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(UEC) Uranium Energy Corp Establishes Physical Uranium Initiative and Provides Balance Sheet Update
Tue March 16, 2021
– Establishing a physical uranium inventory to take advantage of spot purchases below most industry production costs, adding additional asset value to the balance sheet;
– “Uranium inventory will provide greater marketing flexibility for utilities, while freeing up UEC’s domestic mine production for the U.S. Uranium Reserve, and other U.S. origin specific opportunities;”
– “Entered into agreements totaling $10.9 million to purchase 400,000 pounds of uranium concentrates at ConverDyn in Metropolis, Illinois at a volume weighted average price of $27.29 per lb. U3O8;”
– “Market value of a 19.5% equity stake in Uranium Royalty Corp. (URC: TSX-V) increased to $34.3 million following URC’s announced acquisition of royalties on the world-class MacArthur River and Cigar Lake uranium mines;”
Uranium: The Underappreciated Clean Energy Transition Trade (w/ Adam Rodman and Arthur Hyde)
Real Vision Finance – March 15, 2021
“Segra Capital Management partner Arthur Hyde, CFA, and founder and portfolio manager Adam Rodman join Real Vision editor Max Wiethe to give an in-depth update on uranium. Hyde and Rodman provide a recap on the recent events in the sector and uranium’s price movement, discuss why this is still a structurally undersupplied market, and share why interest in uranium is increasing.”
(NXE) NexGen Announces Exercise of $22.5 Million Over-Allotment Option in Connection with Recently Completed Bought Deal Financing
by @newswire on 16 Mar 2021
https://ceo.ca/@newswire/nexgen-announces-exercise-of-225-million-over-allotment
Denison is doing it as well
https://ceo.ca/@newswire/denison-announces-funding-of-project-finance-initiative
Oh and I see my URC got a mention as UEC owns 19.5%
(KDK) ( KDKCF) Kodiak Resumes Drill Program at its MPD Copper Gold Porphyry Project
March 15, 2021
“Plans for 2021 include up to 30,000 metres of drilling in several target areas, as well as further geophysical and geochemical surveying, prospecting and geotechnical studies”
This is for late night readers like me, Temas Resources, (SYL-TMAS) Iron ore, Vanadium, Titanium, low float, insiders hold over 50% of shares, located in The Abitibi, Quebec, Great management, Iron Ore prices are skyrocketing, close to infrastructure…………
Take your pick of articles from the Martens:
http://www.wallstreetonparade.com
The latest on corruption, Wall Street, Central Banking, Treasury, Exchange Stabilization Fund and your favorite politicians.
Leadership has sunk to an all time LOW, but, it has been low for a long time.
Keep the fence up at the Capitol…..maybe, it will keep some of the nut jobs contained in DC, contained, and easier to find, when the people wake up to the fact they have been screwed., with no sign in sight of any relief….$145 TRILLION MISSING…..and nobody is going to find it….
This is long term stuff like Plunge Protection. ESF, Treasury, New York Fed…the fact that there is more penetration of the “veil of secrecy” is somewhat encouraging for the serfs.The most difficult problem remains…education of the masses to get some outrage going. Ask anyone what the ESF is and the blank stare “give a crap” response will be the norm. Ask if they should be auditied and you will get “but what abourt Walmart”.
Gold market is “shocked” by Fed not raising rates and gold recovers from algo smash. Fed goes back to planning for Jackson Hole and open bar.
Very good interview. How do I follow the DOC, where do I find him please?
Hi Doc, now that Gran Colombia has made a bid for GoldX do you plan to sell your Gold X or take the Gran Colombia stock and hold? And if NULGF finds a 55 million oz gold deposit like Post-Betze and goes to $12 a share, what will you do? we need to prepare now so we don’t get carried away by our emotions in the heat of battle.