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Welcome!

This Weekend’s Show is for the all the precious metals investors out there

Cory
May 29, 2021
Full Weekend Show

On this Weekend’s Show I focus on mostly on gold and gold stocks with a couple comments on silver and currencies mixed in. Please keep in touch by emailing me at Fleck@kereport.com and let me know your thoughts on any of the companies I interviewed this week.

We have some big news coming this weekend for the show that I am very excited about. Be sure to check back after the long weekend.

  • Segment 1 and 2 – Richard Postma, AKA Doc joins me to kick off the show with a focus on gold’s moves this month and where the gold stocks stand. We also discuss the silver market and what Doc is buying.
  • Segment 3 – Brian Leni, Founder of The Junior Stock Review is up next and helps us dive into the PEA released this week by Montage Gold (TSX.V:MAU – OTCPK: MAUTF) for the Koné Gold Project in Côte d’Ivoire. We jump right into the numbers and where the next catalysts will come from.
  • Segment 4 – Marc Chandler, Managing Partner of Bannockburn Global ForEx wraps up this Weekend’s Show by recapping moves in currencies and US markets. We then look ahead to next week which is full of interesting data and a G7 meeting.

Exclusive Company Interviews The Week


Doc
Brian Leni
Marc Chandler
Discussion
121 Comments
    May 29, 2021 29:09 AM

    Thanks to all the KE Report contributors to another full week of daily editorials, company updates, great insights and investable ideas on the blog, and another solid weekend show.

    Ever Upward!

    May 29, 2021 29:17 AM

    Happy Memorial Day to all!

    May 29, 2021 29:32 AM

    Hola. Doc.. What is your view on with uranium at this point n time?.. Uuuu and Dnn Both had some nice moves,Sin the other day.. Sincerely. Poppie *

      May 29, 2021 29:36 AM

      Great show. Thanks Cory!!

      May 29, 2021 29:27 PM

      Uranium and the stocks look solid here—-the stocks are in consolidation mode waiting for their respective 200 week moving averages to catch up which should in all likelihood be the impetus for higher moves.

        May 30, 2021 30:34 AM

        Thanks for the reply Doc.. Apparently the seeking alpha article is dead wrong on the biden administration funding..According to Uranium insiders

          May 30, 2021 30:53 AM

          Good eye Poppie. After reading your comment, I went over to Uranium Insider’s Twitter thread, and saw where Justin had retweeting John Quakes point that there still was $75 Million earmarked for the strategic Uranium fund. It wasn’t just Seeking Alpha, but other news reports that had stated on Friday that the Biden administration didn’t have funding for this. John Quakes is a sharp guy in the Uranium space though, and I’m glad he posted this information as a follow up.

          ____________________________________________

          John Quakes @quakes99 7:52 pm · May 29, 2021·Twitter Web App

          “Contrary to Friday’s news reports, reading thru Biden’s Energy Department Budget Proposals on pg 384 it states that “$75,000,000 shall be available for the #Uranium Reserve Program” and references the Energy and Water Development and Related Agencies Appropriations Act, 2021″

          https://twitter.com/quakes99/status/1398834548985630723

      May 29, 2021 29:36 PM

      Hello Poppie. Regarding the Uranium stocks, I’m still constructive on them medium to longer term being an exciting part of the energy sector, but many still remain shorter-term overbought, so I’ve not been aggressively adding to the 7 U stocks I currently have in my portfolio (including UUUU and DNN that you mentioned). I’m looking for any good pullbacks to add a bit to those positions and possibly start a few more, with a goal of 10-12 U stocks in total when the sector really hits it’s stride.

      Part of the mild weakness we saw at the end of last week in the sector (particularly in the US based companies like Energy Fuels, Ur-Energy, UEC, Peninsula Energy, Azarga Uranium, etc…) was due to the lack of funding earmarked by the Biden administration for the long-discussed and proposed US strategic reserves.

      I wouldn’t call a 3-6% drop a “plunge” by any stretch, like this S.A. author below, but if we see a corrective move start to develop, it will be healthy after such a big move higher in most of the Uranium stocks, and I’ll be looking to throw a few more shrimps on the barbecue…

      _____________________________________________

      Biden Budget Omits Uranium Reserve Funding, Miners Plunge

      May 28, 2021 By: Carl Surran, SA News Editor

      “Uranium miners fall sharply after President Biden’s proposed budget released today does not seek funding for a national uranium reserve created under former President Trump.”

      DNN -7.6%, UUUU -6.9%, UEC -4.7%, URG -4.7%, CCJ -3.5%, NXE -2.3%

      https://seekingalpha.com/news/3701349-biden-budget-omits-uranium-reserve-funding-miners-plunge?mail_subject=dnn-uuuu-biden-budget-omits-uranium-reserve-funding-miners-plunge&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha

        May 30, 2021 30:33 AM

        Apparently this news (that there wasn’t a budget for the Uranium Reserve funding from Biden’s administration) started on Bloomberg, and then was disseminated on other outlets. Thanks to John Quakes for pointing out it was not correct, as noted above in the thread.

        Regardless, this is just a small news blip, in the overall macro story for Uranium investing, as the clear driver of these markets will be the continued demand for Uranium to power the 440+ reactors, with 50+ more slated over the next decade. There is also the potential market for the proposed Small Modular Reactors that would only increase demand.

        Uranium mining companies need prices in the high $40’s at minimum, but ultimately the $50’s and $60’s (when all in costs including site reclamation are factored in). With new Uranium funds & producing U308 companies & now the non-producing Uranium companies (like Denison, UEC, Boss, etc…) all mopping up the Uranium available on the spot markets, there is a tipping point coming where the Utility companies are going to need to start coming to the table with the Uranium companies and set up longer-term supply offtake contracts. This new contracting cycle will move the term pricing on Uranium up to those high $40’s or low $50’s prices in relatively short order, and when that happens the Uranium companies will just press to even higher prices than they already have over the last year.

        So, the big prize is basic economics. The supply from global uranium miners has been all but ratched down to skeleton crew selling into existing remaining supply contracts, but most prior producing mines are now idled, the development projects are on hold, and the demand for the nuclear fuel is only rising higher as the global uranium fleet of reactors grows. The larger macro setup has been crystal clear for a while now with regards to the Uranium supply/demand, for anyone that spent a little time reviewing this important part of the energy sector. There have been a few small rallies over the last few years as Uranium spot prices double-bottomed off the $17-$18 level in both late 2016 and again in late 2017, and then a measured move higher in mid 2018, and a few small rips in 2019. However the move we saw up in 2020 in the Uranium miners was more the real deal, with most companies up 300%-1000% in shareprice, and on much higher volumes that we’ve seen in any of the earlier market tremors.

        The momentum has been building in the size of the move higher and the much larger volume in about 2 dozen of the better Uranium stocks for last year, and while this was the easiest money made in this bull move, the cycle is still just getting started and there is much further to run in the small universe of Uranium mining stocks.

          May 30, 2021 30:49 AM

          Now we can also add Peninsula Energy to the growing list of companies purchasing Uranium directly out of the markets. This is a very interesting development with so many U companies and funds purchasing fuel directly out of the spot markets to build up their own inventories, because it positions them to set up longer term contracts, and it continually reduces down any potential fuel available to the utility companies, which will eventually force them to the negotiating table to set up longer-term supply off-take contracts. This contracting cycle is what the industry has been waiting on, and as more and more fuel gets purchased by the uranium miners, that tipping point is getting closer and closer.

          __________________________________________

          (PEN.AX) (PENMF) Peninsula Energy Raises A$15m For Uranium Buy
          MAY 28th, 2021

          By: Esmarie Iannucci

          Proceeds from the placement will be used to settle the purchase of 300 000 lb of uranium, with Peninsula telling shareholders on Friday that it had entered into a binding agreement to purchase the physical uranium concentrate at a price of $31.35/lb.”

          “Settlement is due in June, and the uranium will be stored at the Cameco facility, in Ontario.”

          https://www.miningweekly.com/article/peninsual-raises-a15m-for-uranium-buy-2021-05-28/rep_id:3650

            May 30, 2021 30:56 AM

            (EU) (ENCUF) enCore Energy Corp. Announces Strategic Acquisition of Physical Uranium

            April 6, 2021

            “enCore Energy Corp. announces the company has executed an agreement to purchase 200,000 pounds of uranium concentrate for a purchase price of $29.65 per pound U3O8. ”

            https://www.encoreenergycorp.com/wp-content/uploads/2021/04/nr-20210406.pdf

            May 30, 2021 30:01 AM

            (BOE.AX) (BQSSF) Boss Resources Acquires Strategic Uranium Inventory After Completing $60m Capital Raising

            March 29th, 2021

            “Boss has entered into Binding Agreements to purchase 1.25 million pounds of uranium on the spot market at a weighted average price of US$30.15 per pound.”

            https://www.bossenergy.com/wp-content/uploads/2021/03/2194535-1.pdf

            May 30, 2021 30:13 AM

            (DNN) (DML) Denison Announces Successful Procurement of 2.5 Million Lbs U3O8 as Part of Project Finance Initiative
            April 01, 2021

            “Denison Mines Corp. is pleased to announce that it has successfully secured 2.5 million pounds of uranium concentrates (“Uranium” or “U3O8″), at a weighted average price of USD$29.61 per pound U3O8 and a total cost of approximately USD$74 million…”

            https://www.denisonmines.com/news/denison-announces-successful-procurement-of-2-5-mi-122732/

            May 30, 2021 30:16 AM

            (UEC) Uranium Energy Corp Increases Physical and Equity Uranium Holdings
            Share:
            May 20, 2021

            “The Company has acquired an additional 200,000 pounds of U.S. warehoused uranium. UEC’s physical uranium initiative is fully funded with cash on hand and now includes 2.305 million pounds of U.S. warehoused uranium at a volume weighted average price of ~$30 per pound with various delivery dates out to June 2023. ”

            https://www.uraniumenergy.com/news/releases/index.php?content_id=858

            May 30, 2021 30:22 AM

            (URC) (UROY) Uranium Royalty Corp. Takes Delivery of Initial Tranche Under its 10-Year Supply Agreement to Acquire US$10 Million of Physical Uranium

            April 29, 2021

            “Uranium Royalty Corp (URC) previously announced on March 30, 2021 the initial exercise of its option to purchase US$10 million of physical uranium, secured under its strategic and foundational investment in the 2018 IPO of Yellow Cake plc (YCA)”

            “URC has now taken delivery of 348,068 pounds of U3O8.”

            https://www.uraniumroyalty.com/news/uranium-royalty-corp-takes-delivery-of-initial-tranche-under-its-10-year-supply-agreement-to-acquire-us10-million-of-physical-uranium

            May 30, 2021 30:25 AM

            Sprott Acquires Physical Uranium Fund as Uranium Bear Market Ends

            May 20, 2021

            “In a move to offer investors access to spot uranium prices, Sprott Asset Management has taken over Uranium Participation Corporation (UPC), a physical uranium fund that trades in Toronto, relaunching it as the Sprott Physical Uranium Trust. The new trust will launch in late Q2 or Q3 of 2021.”

            “Sprott also hopes to dual list the fund in the U.S.,” said Sprott CEO John Ciampaglia in a new interview with BNN Bloomberg.

            “Uranium was in a long bear market, said Ciampaglia. “We believe that this bear market is over and that a new bull market is now underway.”

            https://www.nasdaq.com/articles/sprott-acquires-physical-uranium-fund-as-uranium-bear-market-ends-2021-05-20

            May 30, 2021 30:27 AM

            Ding, ding, ding, went the bell….

            Clang, clang, clang, went the trolley…

    May 29, 2021 29:39 AM

    Continue to believe that physical spot Gold is mimicking the action of 2008 from a Technical perspective, thus, our forecast for a strong May/June/July. Gold’s next short-term objective 1920ish after some consolidation/ digestion here. Also suspect that Gold will run to near ATH’s by end of July But, will spend the remainder of year after July consolidating before printing New ATH’s in 2022.

    With respect to Silver, the metal requires a Close above $28.40, which when occurs, will open the door and gateway to $35 spot.

    Have a great weekend and happy Memorial Day to those in the US.

    May 29, 2021 29:35 AM

    Hi Matt,I now have 1.85 shares of GGO!(between you and I we have to own a couple % of the company ha ha)
    Cant wait to see what vein #9 will add to the resource.
    I dont know what pressor it was(think it was about a month ago)Mr Russell said they had discovered vein #10 and #11.
    If those veins are similar to vein #9 it could be huge!!
    Have a Memorial Day weekend!!

      May 29, 2021 29:24 PM

      Wow, Poko, I bet 2 million is now pulling on you like a magnet! Don’t forget to take back your initial investment at some point no matter how good the coming news might be.
      The weekly picture looks great:
      https://stockcharts.com/h-sc/ui?s=GGO.V&p=W&yr=3&mn=3&dy=0&id=p89503841798&a=938255555

      Hope you’re having a great Memorial Day weekend 🍻

      May 29, 2021 29:11 PM

      This is wrong information. 2008 is actually very similar to this pattern of which we have. Go back and pop up a monthly you will see June July and august we’re horrible for gold and October creates the bottom..

      Glen

        May 29, 2021 29:17 PM

        Have you forgotten that between 2001 and 2011, no gold correction was nearly as long as the one that happened in 2008? From high to low, it lasted 7 months and that’s with the very unusual circumstances and general market turmoil surrounding it. Gold is obviously in a big new bull market now and it has already had a big correction that was also 7 months. In fact, the recent correction was even the same number of weeks as the 2008 correction at 31.
        Monthly:
        https://stockcharts.com/h-sc/ui?s=%24GOLD&p=M&yr=25&mn=0&dy=0&id=p94574597907&a=928817909

          May 29, 2021 29:23 PM

          Gold fell right to 2.5 year-old support before reversing and it took the retest of the low weeks later to accomplish because the price floor was solid. That’s bullish.
          If we raise the downtrend line as high as possible, this breakout is very young and that does not bode well at all for those hoping for a big pullback.
          https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=3&mn=3&dy=0&id=p64185198147&a=962059208

          May 30, 2021 30:04 AM

          Beauty cup&handle on the first chart Matthew.

          I’ll say that it measures to gold $3800 in five (5) years.

          May 30, 2021 30:05 PM

          Exactly Matthew. I was specifically referring to action and duration, not specific Months within 2008. This present Action is nearly identical to the Action and Time/ Duration of the correction/consolidation of 2008.

          There are No big or major corrective pullbacks forthcoming. Once spot Gold breaks north of 1920ish, we’re headed higher. Looking for Gold to run back near (but not exceed) their ATH’s by end of July.

          Then, consolidate for remainder of 2021 before printing New ATH’s in spot Gold in 2022.

          For those thinking that a major pullback in Gold is in the cards, they will find themselves chasing the next leg higher.

          Your comments and analysis with respect to the recent 7-8 month corrective consolidation and that of 2008 both in Time/Duration and Action, is Spot On!

            May 30, 2021 30:01 PM

            Thanks for sharing that, Mineralsrmoney. Your details regarding the ATH and your expectations are interesting and food for thought.

    May 29, 2021 29:09 AM

    Have a Great Memorial weekend
    My Bad

    May 29, 2021 29:44 AM

    Matt,
    Doc and Glendfish were both off on their calls for the last couple of months. You were right! Thanks you for staying on this file.
    Now GDM/GDXJ/XAU/XGD/GLD/SLV/HUI have all indicated moves are going to go higher not lower. The set up looks pretty amazing now.
    I really do value and appreciate Doc’s TA commentary, but no competent TA person can be right for ever. Such a hard thing to get right on a regular basis!

      May 29, 2021 29:31 PM

      Thanks Confused. Keep in mind that we still could get a sharp pullback in a week or two (of course possibly even sooner) but I am not at all worried about technical damage to the weekly chart which also means that I am not worried about new lows coming our way or anything even close.

        May 30, 2021 30:57 AM

        We haven’t even seen the impulse move hit silver or the PM juniors yet…won’t that need to kick in before this latest move consolidates?
        Also, since we are in a new major impulse move, won’t corrections/consolations be short lived? There is little optimism in the junior space. No “froth” at all.

          May 30, 2021 30:42 AM

          I should have been much clearer. The potential pullback I see in a week or two would be short term and only “sharp” on that scale. It would be no more than a blip on the weekly chart.
          Here’s a daily chart of GLD. What I expect after it has gone higher (probably and hopefully above the peaks of November and January) is a deeper pullback than the one we had in late April but not necessarily much longer:
          https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=9&dy=0&id=p23213206693

          I agree that there is zero froth so I could be surprised by the move from here before there is finally a pullback. Depending on the levels achieved by by both metals before a pullback, our juniors could very possibly have a good time when the metals stall.

      May 29, 2021 29:26 PM

      Confused,

      I’m still here and if your saying me and doc have been wrong in regards to the bottom I’m gold the verdict is still out. So I will take my time in responding to you since you have taken many jabs at me when it’s convenient and not offered any analysis yourself.

      I’d you want to win a prize for gold going up $100 plus since double bottom and miners stuck in the same range then so be it.. I repeat the miners have sucked ass compared to gold and miners lead the way in a bull not the bullion.

      Secondly Monday can bring some closure to what all the gold bugs want or what I’ve been saying which is I’m not married to anything and emotions are out for me.

      Let me give you and all the other viewers in here reason for why gold still can go down and not just listen to what Matthew or all bulls have to say. I would think investors should know both sides before getting married. Remember it’s easy to praise people who talked up miners since there highs in august all the way down and seen there valuations cut in half while pumping them but much easier to after me because we have a pop and trend line broken on the weekly in gold.

      The facts are these folks.

      Double bottoms are 50/50 never like them personally. True bottoms of this magnitude for this long duration create v’s look at history. This is a grinding low up.

      The volume speaks for itself in the miners and it’s simply not there with king candles and low volume.

      The monthly gaps that have been left behind and the opening of good times for corona etc around the world. There is a good possibility of a setup here for a big down turn and it won’t be like Matthew thinks.

      I have a list of all the names on here who have mentioned me and if my scenario works out you will all be called upon.

      Cory I’m disappointed in you calling out doc like that because it really has no merit. Doc said gold up to mid May and side ways and would not be suprised of gold finished up. He always said jume would be down. Asking a man of his knowledge to bend over or what does he have to say is taking a cheap shot at him and shows your a gold bug and always looking for yours. Simply disappointing.

      I would hope Cory you would do the same for all the cheerleaders here if gold does go down. I will keep you honest on that.

      At the end of the day I’ve said this a million times I’m overall gold bullish but the market makers and bankers are going to have there day and many of you here like confused and others will get it handed to them.

      Nothing ever changes

      Glen

        May 29, 2021 29:55 PM

        Glen, why do keep ignoring the fact that the miners went up 20 percent versus GOLD since bottoming a week before gold?
        I’m also curious why you’ve been ignoring the clear message of the charts for months. You’ve shown with your predictions that go against the charts that you are indeed married to a certain outcome.

        Gold is up more than 14 percent since bottoming while GDX is up 29 percent after being up as much as 31 percent. There’s nothing “grinding” about the action.
        GDX and many others now have two weekly closes above their weekly Bollinger Bands so the odds of a down week are increasing. That will make you even more confident about your targets but they will still be just as unlikely to happen.

        Don’t worry buddy, polishing my shoes won’t be so bad. 😉

        P.s. – Didn’t you hear Cory say that he was asked by listeners to question Doc? Didn’t you also notice that Doc did not deny that May didn’t go as he expected?

        May 31, 2021 31:54 PM

        +1

    May 29, 2021 29:48 PM

    Here’s a good monthly gold chart from Steve Penny (@SilverChartist) that he tweeted out yesterday:

    SilverChartist @SilverChartist On Twitter 1:00pm May 28, 2021

    $GOLD: Confirmed Monthly Breakout

    Have a great weekend everyone!

    https://twitter.com/SilverChartist/status/1398368545302466560

      May 29, 2021 29:49 PM

      Here’s a zoomed in version of that chart Steve P. posted above:

      https://pbs.twimg.com/media/E2gAqJzVUAMxXkX?format=jpg&name=4096×4096

        May 29, 2021 29:54 PM

        That longer-term monthly chart pattern does have all the makings of a classic Cup & Handle pattern. The question is has Gold just completed the handle for a big break higher out of that Cup & Handle pattern, or would it make sense for June & July to see gold pull back down in for bearish red candles to complete a longer handle before breaking out?

        We’ll see how things develop in early summer, but April and May were definitely constructive months for Gold and the senior Gold miners. It would be nice to see more conviction from the true gold junior miners and from Silver & the Silver Miners, because thus-far their moves in April & May were only muted and rangebound as a general trend.

          May 29, 2021 29:27 PM

          As precaution, I trimmed back my position-sizing in some of my gold & silver stocks by 15-20% over this last week to raise some funds in case we see any June pressure, after having 2 good months, but still have plenty of positions in the portfolio for exposure if the miners want to keep running higher.

            May 31, 2021 31:51 AM

            DISAPPOINTING – AUY, KGC, BTG & IAG

      May 29, 2021 29:41 PM

      Something Historic Is Happening with Silver – Steve Penny

      ILoveProsperity w/ Jake Ducey #VIDEO

      https://youtu.be/MXlUOu6KMKo

    May 29, 2021 29:08 PM

    Crescat Capital portfolio managers, Tavi Costa, just put out a bullish weekly Silver Chart.

    We’ll see how it goes, but it would be nice if Tavi was correct on the potential setup for the “pop” he is believes is likely.

    _________________________________________________________

    Otavio (Tavi) Costa @TaviCosta 4:35 PM · May 28, 2021·Twitter Web App

    #Silver “Ready to pop, folks.”

    https://twitter.com/TaviCosta/status/1398422815506796545

      May 29, 2021 29:45 PM

      Silver Miners’ Q1’21 Fundamentals

      Adam Hamilton – May 28, 2021

      “The silver miners’ stocks have mostly been consolidating high since last summer. While they’ve enjoyed some sharp rallies, those have been within that sideways-grind trend. That lack of overall upside progress has left this tiny contrarian sector out of favor, with apathy reigning. But as their recently-reported Q1’21 operating and financial results revealed, silver stocks’ fundamentals and upside potential remain good.”

      http://www.321gold.com/editorials/hamilton/hamilton052821.html

          May 30, 2021 30:24 AM

          EB Tucker: Future Fed Digital Dollar Will Strip Away Your Privacy, Why Gold Is the Only Way

          Stansberry Research – May 28, 2021

          “Federal Reserve officials recently amped up their exploration of a digital version of the U.S. dollar. Issuing a rare public video, Fed Chair Jerome Powell announced plans for a discussion paper on digital payments this summer, which will include the pros and cons associated with any U.S. central bank digital currency. Our Daniela Cambone speaks with bestselling author E.B. Tucker about the implications of the move away from paper money.”

          https://youtu.be/_bON1bUF2To

            May 31, 2021 31:42 AM

            To Be, Or Not To Be, Transitory {Inflation}

            David Hay – May 28, 2021

            – Nearly seven months ago, this newsletter made the case that inflation was poised to accelerate as we moved into 2021.
            – The investment implication of this outlook was to overweight securities that would benefit from re-opening, reflation and inflation.
            – Another core belief of mine is that it nearly always pays to go-with-the-flow when it comes to multi-year breakouts.
            – Usually, this refers to stocks, sectors, foreign markets or primary investment styles, but it also applies to commodities and inflation expectations.
            – I believe we are seeing broad and powerful confirmation that we are in a new long-term bull market for hard assets like copper, gold, silver, palladium and energy.
            – However, even in mega-trending bull markets, sharp corrections can (and will more than likely) occur.
            – Thus, it might make sense to cut back a bit on hard asset exposure for the time-being (with the exception of gold, which already had its shake-out).
            – One reason I believe this might be prudent is that there’s a good chance we’re going through a phase of peak growth expectations and peak inflation fears right now. However, this is likely to be a major head-fake; another up-leg in hard assets seems inevitable.
            – Even though we’re becoming numb to the extreme nature of the Fed and Treasury’s radical government monetary policies, debt monetization is what developing countries resort to when they are in serious trouble. Surging inflation and a collapsing currency are the inevitable results.
            – It’s natural to think that can’t happen in the US given our enormous wealth and reserve currency status, but I’m not so sure.
            – Only time will tell if the Fed is right or if inexorable inflationary forces are now at work—and are anything but transitory.

            https://blog.evergreengavekal.com/to-be-or-not-to-be-transitory/

    May 29, 2021 29:35 PM

    Both Gold And Copper Have Had Two Months Of Stellar Performance

    The Gold Forecast – Gary Wagner – 05/28/2021 #Charts #TechnicalAnalysis #VIDEO

    https://youtu.be/-1aieKHfyy8

    May 29, 2021 29:48 PM

    Cobalt, nickel price: Rapid LFP uptake dents EV bull case

    Frik Els | Mining.com – May 28, 2021

    “Last year Tesla surprised the electric car industry when it said its entry level Model 3s made in Shanghai will be equipped with Lithium Iron Phosphate (LFP) batteries.”

    “LFP batteries are significantly cheaper and simpler to manufacture compared to NCA (nickel-cobalt-aluminum) and NCM (nickel-cobalt-manganese) cathode chemistries, but fare badly in terms of energy density – and therefore range, still motorists’ no 1 reason for not going electric.”

    https://www.mining.com/cobalt-nickel-price-rapid-lfp-uptake-dents-ev-bull-case/

    May 29, 2021 29:38 PM

    As usual…….. I do not agree with Doc……….. Gold looking good @ $1900…… and with $6 Trillion in the US BUDGET PLAN…….. gold is going a lot higher…… will pass the all time high this year……. this is nothing like 2012…………JMO

      May 29, 2021 29:48 PM

      You’re right, Jerry. This is nothing like 2012-13. That period came 16 months after the top of a ten year bull market in gold so the quarterly MACD looked terrible and was was deteriorating rapidly. Conversely, gold’s recent high marked no more than the 20% area of the current bull market (timewise not pricewise) and the quarterly MACD, not surprisingly, looks great and is improving rapidly. The long correction we just had along with the monthly MACD sell signal is just what the quarterly MACD needed to narrow a bit (a sort of “reset”) before the next advance (which will cause it to widen again).

      The quarterly RSI(14) currently shows a reading of 68.68 and if it can finish June/Q2 at 70 or higher, the second half of the year is likely to be better than very good.
      For those who can view a quarterly chart…
      https://stockcharts.com/h-sc/ui?s=%24GOLD&p=Q&yr=25&mn=0&dy=0&id=p73003728483&a=906048672

      The yearly chart is in harmony with the quarterly and points to many years of gains ahead.

        May 29, 2021 29:19 PM

        Matthew,….. thanks for the thought….

      May 29, 2021 29:55 PM

      MACD is an oscillator….I never heard of pattern recognition theory of an oscillator other than a “kiss/rejection”….Most great traders do not even look at moving averages since they are 90 degrees out of phase….A monthly oscillator is extraordinarily limited amount of info.. to actually trade off of …IMHO

        May 29, 2021 29:45 PM

        Yes, most traders are 100% focused on price but most are also 100% focused on the short term.
        I’ve found a lot of lows on every time scale that price-only guys miss because they don’t look at oscillators. Many must have an impulse leg before they get interested. Price momentum divergences are very useful and so are the perpetually repeating patterns I see among the oscillators. It’s an odds game no matter how you prefer to play it and MACD buy and sell signals can be used with great success all by themselves. Not that I recommend it.
        For example:
        https://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=3&mn=11&dy=0&id=p64048862379&a=962025378

        May 29, 2021 29:51 PM

        I identified the major low for GDX vs QQQ a month ago right before there was any price breakout whatsoever.
        As you can see, one could do a lot worse than buying the weekly default 12,26,9 MACD buy signal.
        https://stockcharts.com/h-sc/ui?s=GDX%3AQQQ&p=W&yr=3&mn=7&dy=0&id=p29652924996&a=948507271

          May 30, 2021 30:11 AM

          That’s an intersting chart Matthew. I’ve seen you post that before, but just wanted to say thanks for sharing your TA work and annotations on the charts, as it is appreciated.

            May 30, 2021 30:46 AM

            Thanks, Ex. You’re welcome.

            May 30, 2021 30:07 PM

            Yes – thank-you for sharing/teaching Matthew. “Teachers have three loves: love of learning, love of learners, and the love of bringing the first two loves together.”

            May 30, 2021 30:04 PM

            Terra.laser, you’re welcome and thank you. I like your quote.

          May 31, 2021 31:00 AM

          I think that is the same chart , Matthew posted last week,…… that I commented on,…
          Matthew recognized it , which I said, ….”Most would not be able to recognize it”….

        May 29, 2021 29:22 PM

        Here’s an example of the RSI breaking out more than 2 months before price broke out and I reported on it at the time when it mattered. The breakout in this case refers to the move above a prior peak or pivot…
        https://stockcharts.com/h-sc/ui?s=NEM%3ASPY&p=W&yr=7&mn=8&dy=0&id=p32896287081&a=931778995

          May 29, 2021 29:40 PM

          Matthew,

          You and everyone else in here better pray Monday does not create a big red candle. The low is not confirmed until that monthly ends higher in the trend line. If Monday creates a red candle down and we finish monthly lower then $1897 December monthly high I 100% guarantee we are breaking that double bottom. If we don’t and close higher the bottom is in. Since so many traders are thinking like you I’m betting it’s breaking lower and fridays close was a bull trap.

          Remember I have a list of names I will call you out

          Glen

            May 29, 2021 29:27 PM

            Sorry Glen, the low is confirmed and I have no need to pray about big red candles when I can prey on red-faced bears.
            100 percent guarantees mean nothing to me.

            May 29, 2021 29:16 PM

            Glen,………. Monday is a Holiday in the USofA
            So, Monday will not count… LOL 🙂
            Your pal,(remember)… be kind when /if, …you call my name… 🙂

            May 30, 2021 30:41 AM

            Very good chance, even likely, that we see “a big red candle” on Monday on TSX Global Gold Index (XGD). Mid-channel is practically a given during the week.

            https://schrts.co/JtkEeQKN

            May 30, 2021 30:48 AM

            I should add that if “red candle” happens on Monday, I’ll be adding to my miners position.

            May 30, 2021 30:48 AM

            ++2

            May 30, 2021 30:32 AM

            Glen, Jerry should be on your list of names because he has now supported Matthew and anyone who supports Matthew is against you. Glen you are a ridiculous person! DT

            May 30, 2021 30:32 AM

            Everyone, Glenfidish is certainly entitled to his opinion. He’s made some great calls in the past, so he’s got some street cred. No one is right all the time, and for anyone here who’s shown they have a set has offered insights and directional calls. Sometimes we’re right and sometime we’re off. It’s all good because the opinions shared are all valuable.

            May 30, 2021 30:11 PM

            Dick……..you are an ass hole…..

            May 30, 2021 30:24 PM

            You have a problem….Dicky…….. I have not said anything for weeks..especially to YOU,,,.. but, you mentioned my name… so, I responded….
            Glen is OK in my Book, and so, is Matthew…… just saying….

            May 30, 2021 30:28 PM

            Should not have called you an ass hole……… sorry, to all the KER FAMILY… 🙂

            May 30, 2021 30:04 PM

            Jerry, you will never know what I think of you, I don’t have time for people who revert to profanities. I am surprised that this site allows you to express an opinion like that, you should be ashamed of yourself. DT

            May 30, 2021 30:14 PM

            go back to sleep Dick……..

            May 30, 2021 30:17 PM

            You already shared your views before….. Dick… I really do not care what you have to think…nor say..

            May 30, 2021 30:18 PM

            Jerry, I am glad you are such a good Christian. DT

            May 30, 2021 30:20 PM

            All have fallen short….. MORON…. Go back to sleep

            May 30, 2021 30:24 PM

            LOL!

            May 30, 2021 30:27 PM

            🙂

          May 29, 2021 29:47 PM

          I meant I will call out everyone who takes Java’s at me and has said Matthew in drivers seat. Let’s see the verdict soon..

          Also to clarify thing to all, I’m not a short term trader and my overall pattern consist primarily first of the monthly then weekly then daily but I don’t get married to the 4 minute or hourly etc.. I’m not I’m this for pips I’m in this for big trend money..

          Glen

          May 30, 2021 30:04 AM

          great teachable chart….the RSI divergence at the end of an extended move is aw sum…the on shorter times pull trigger w Slow Stoch crossing above 20% and wait for macd confirmation and you have a buy mode…tanks Matthew….the weekly will follow if it is an intermediate cycle…nice

      May 30, 2021 30:25 AM

      While I appreciate hearing from Doc and the Glenster to help keep me moving forward with a balanced perspective, I have a tendency to agree with you Jerry. At this point in time, I continue to anticipate we’ll see a couple more weeks of an upward move, then might be some consolidation before we go up to a new high.

        May 30, 2021 30:17 PM

        Thank you…..Canuckski……..appreciate the comment….. I just think there is a WHOLE LOT MORE GOING on…….. that people are overlooking….. which do not come out in charts…….. jmo

    May 29, 2021 29:11 PM

    Everyone in the US have a great Memorial Day long weekend. Looking forward to kicking of the new month of trading on Tuesday.

    “Memorial Day is one of 9 holidays for which the New York Stock Exchange closes. Both the NYSE and Nasdaq will be closed on Monday, May 31, 2021. The Dow Jones Industrial Average and S&P 500 are closed to trading. Bond markets will be closed as well. Regular hours will resume on Tuesday, June 1.”

    https://heavy.com/entertainment/is-the-stock-market-open-memorial-day-2021/

    May 30, 2021 30:16 AM

    Great comments Matthew. Your foresight is extremely valuable.

    BDC
    May 30, 2021 30:19 AM

    “True bottoms of this magnitude for this long duration create v’s …”
    Daily Spike Low: https://postimg.cc/BP3qQRn0
    August 2018. As pretty as they come.

    May 30, 2021 30:33 AM

    I’m with you Glen, hell hath no fury like a scorned gold investor/speculator.

    May 30, 2021 30:18 AM

    Hi Cory.
    Thanks for all your efforts.
    Would it be possible for you to post the chart, you and Doc discussed?
    I guess it is the monthly?
    Best. A

    May 30, 2021 30:30 PM

    Matthew,

    Just so you understand me I don’t look at chart and valuations on stock charts the way you do. You compare a basket of goods vs gold etc it’s not how I look at things. Just so you have a perspective of how I look at things I valuate august high with current price action. If you draw a trend line from that high you would know impact is very far away from its 1.25 high. This is not by any means knit picking at impact there are over 30 miners I can tell you that are way under and still moving down all the while gold exploding higher.

    My point is this, I don’t care at this point of gold has bottomed or is headed lower, the miners have been not impressive since there august high and so you are measuring the current low and spoke which is not great imo.

    I’m value hunting!

    To the folks who follow me glen is still 20% in cash and waiting to deploy. I will let you know when I do as I’m expecting a deep correction of which we will see the magnitude of it. I don’t care what gold does I’m watching the miners action..

    Glen

      May 30, 2021 30:41 PM

      That’s right, Glen, you don’t look at charts the way I do and the significance of that has nothing to do with my comparisons of various assets to gold. It has somehow escaped you that I look at everything. Much more importantly, it has escaped you that charts are read the same way regardless of which asset you use to price another asset. Bullish and bearish patterns, breakouts, reversals, impulse legs, candlesticks, etc., mean the same thing on all charts and you have ignored many bullish developments in both gold and the miners for months now.

      Don’t get lost in the weeds over the likes of Impact Silver. There are good reasons for such juniors lagging the big gold stocks. One might be all the paper that was created in financings last year that is now tradable (following the 4 month and a day hold that’s placed on such paper). It makes sense that nervous or simply cautious types would dump their shares and ride their warrants from here, 9 months after everything topped. A lot of confidence/greed is now gone. However, a better reason for lows happening well after the lows for GDX is the fact that the silver stocks in general, including the juniors, held up far better than the gold stocks following the August highs and really didn’t begin to correct in earnest until February, this year. SILJ beat its August high by a whopping 11% in February. You clearly weren’t “listening” when I posted on more than one occasion that this strength in silver and the silver miners following the August top in gold and the gold miners was very bullish and very unusual and hadn’t been seen in decades, if ever. It should go without saying that silver and the silver miners usually provide DOWNSIDE leverage to gold and the gold miners once gold has topped.

      You’re looking at charts for the history they provide but you’re not doing technical analysis.

      SILJ just gave its best monthly close in over 8 years as it finished May up 17.35% and GDX just gave its best monthly close since August as it added 14.73% in May. Meanwhile, IPT finished May up 19.7% which is 25.6% off its low.

    May 30, 2021 30:32 PM

    Dt or Mr jock,

    I could care less what you think of me as I have told you numerous times your a clown and can’t hold my strap. Your ego and head stuck in between your panties couldn’t pull you out of any low I’m anything. The fact you disrespect Jerry has you in the shit hold for life!

    Jerry you will always have my support as mentioned we have a mutual respect as I have for Matthew!

    Glen

      May 31, 2021 31:46 AM

      Glen,…. Thank you kind Sir…..for all your support and respect., it is appreciated.

        May 31, 2021 31:19 PM

        Jerry you are clueless, you don’t have a life other than this site, if you had a clue you would be with your family. I’m sure they were much happier when you were in Korelin jail, wake up before it is too late. Do you really think that posters here are more important than your real life. Of course you don’t, fool! DT

          May 31, 2021 31:40 PM

          Another Moron Post…. by you DICKY
          You must Love me, to keep following me…. I will put you on my Christmas Card list…

      May 31, 2021 31:27 PM

      Glen, all you have in your jockstrap is imagination, and of course Jerry is there with a foot pump. DT

        May 31, 2021 31:03 PM

        Go back to Sleep DICK…….

          May 31, 2021 31:21 PM

          Jerry, get a life, other than conspiracy theories. Man you think you see what is going on but you are a victim of the media. DT

            May 31, 2021 31:32 PM

            DICK…….. you are so lost , I feel sorry for you……

            May 31, 2021 31:38 PM

            Jerry, you are an old fool who thinks he has a life on the internet. Do you really think that people who use digital friendships are real people. That is what’s wrong with our society. You have sold out your soul to AI intelligence. That is beyond your comprehension. DT

            May 31, 2021 31:48 PM

            DICK…. I am OLDER WISER,,, WHO THINKS….
            that makes me think you are still CLUELESS….

            May 31, 2021 31:28 PM

            Jerry, you are clueless, you don’t have a life other than this site, if you had a clue you would be with your family. I’m sure they were much happier when you were in Korelin jail, wake up before it is too late. Do you really think posters are more important than your real life. Of course you don’t, fool! DT

            May 31, 2021 31:45 PM

            Oh Brother……. Dicky…..
            You know nothing about me….
            I do know one thing, … you are CLUELESS.
            You are correct about one thing DICK….. You I care NOTHING ABOUT….
            We should consider not talking or posting each other, because your content is WORTHLESS.

            May 31, 2021 31:55 PM

            Jerry, you are an idiot, Brother Jerky.

            May 31, 2021 31:01 PM

            Silly Dicky……… I thought you would have a better come back…. I figured wrong…

            Hope you do not blow out your sneakers..

            May 31, 2021 31:15 PM

            Jerky, at least I don’t have a twist in my pants! DT

            May 31, 2021 31:26 PM

            Dicky…. Have you checked lately…..
            You should not be looking at my ass…. pervert….

            May 31, 2021 31:30 PM

            That’s what you are good at Jerry, Profanity, you can’t win an argument without demeaning people, you are a total loser. DT

            May 31, 2021 31:36 PM

            Dicky……I am good at a lot of things…… and I have figured you out….
            WORTHLESS CONTENT….. go now and read your comic books….

            May 31, 2021 31:43 PM

            GOSH…..DICKY……. I did not know you were so in love with me….
            I might reconsider our relationship….. lol 🙂

          May 31, 2021 31:43 PM

          Jerry, get lost, loser! DT

            May 31, 2021 31:47 PM

            Oh Please Dicky…… You can do better than that…. You lost your comic book subscription….Maybe Big Owl, will get you another one….

    May 30, 2021 30:36 PM

    If you all want to hear fun and rosy times and we are headed to the moon let me know? I will be more then glad not post in here again.. It seems not one person In here gives to hoots what me and doc post so if I don’t sing to your tune then speak up because quite frankly this board only knows one thing up up and away lol..

    Cheers

    Glen

      May 30, 2021 30:46 PM

      You’ve been wrong for the last 3 months so it’s time to insult everyone’s intelligence? That doesn’t look good, Grasshopper.

      May 31, 2021 31:23 AM

      Doc is a good model to follow on how to relate a projection. He states his projections, supports it with a factual basis and does not support it with an “emotional” argument. He leaves it to the reader to evaluate his thoughts.

        May 31, 2021 31:32 AM

        Matthew has a similar approach to Doc. He often let’s his charts do all the talking.

          May 31, 2021 31:07 PM

          doc and Mathew have different approaches true…Mathew uses charts…thank you