Weekend Show – Sat 5 Jun, 2021

Matt Geiger, Sean Brodrick, and Chris Ritchie – A focus on investing in resource stocks

Full Hour Show

Thank you everyone for tuning in to this weekend’s Show. I focus this hour on investing in resource stocks, especially the juniors. Please send me any questions on stocks or anything else you would like help with for your investments. My email address is Fleck@kereport.com.

  • Segment 1 and 2 – Matt Geiger, Managing Partner at MJG Capital kicks off the show with an update on where his fund has been investing and the weighting between resources. We also discuss the recent discovery by Filo Mining.
  • Segment 3 – Sean Brodrick, Analyst at Weiss Ratings is up next sharing how he is investing in the inflation trade. We focus on the commodities impacted by this inflation and China’s roll in the bull market.
  • Segment 4 – Chris Ritchie, President and CEO of SilverCrest Metals provides a construction and exploration update at the Las Chispas Project, as well as some commentary on the silver sector.

Exclusive Company Interviews This Week


Matt Geiger
Sean Brodrick
Chris Ritchie – SilverCrest Metals

Comments:
  1. On June 5, 2021 at 4:19 am,
    Dickus says:

    Labrador Gold up 20% yesterday. It’s been on a roll for the past 4-5 months.

    • On June 5, 2021 at 6:07 am,
      BDC says:

      Nice one: https://postimg.cc/VSCp7qsc — After breaking out last month NKSOF peaked to a Chapman Wave E. Upon any pull back CW(F) is possible.

    • On June 5, 2021 at 6:53 am,
      Charles says:

      Thanks for the show Cory and all you do for the listeners throughout the week!

      • On June 5, 2021 at 7:57 am,
        Excelsior says:

        Agreed. 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!

        • On June 5, 2021 at 8:57 am,
          Excelsior says:

          This was a particularly good weekend show, as I always like getting Matt Geiger’s and Sean Brodrick’s thoughts on the resource sector, as both gentlemen follow a range of commodities and different stocks within those sectors and are well diversified.

          Then closing things up with Chris Ritchie from Silvercrest was great as one of the most solid Silver developers on the planet, with an incredibly well-endowed resource and move towards construction and production next year underpinning their value, but also with 35 more veins on their property that are not yet explored. Then as an added treat Chris R. reviews his macro outlook on the Silver/Gold markets, for which he is well-informed.

      • On June 11, 2021 at 7:25 am,
        BDC says:

        NKOSF

  2. On June 5, 2021 at 5:40 am,
    BDC says:

    At 18:40 Serb mining was mentioned. Related: https://www.youtube.com/watch?v=GjhMY5Xe7eA

    • On June 5, 2021 at 6:23 am,
      OOTB Jerry says:

      Interesting comment at 5:29 mark………4 representatives spent 10 yrs in jail…

  3. On June 5, 2021 at 7:59 am,
    Excelsior says:

    120 Year Chart Shows Copper Price Supercycle Only Starting

    Frik Els – Mining.com – June 2, 2021

    “With the demand picture going from rosy to crimson, the bulls have seized upon long-standing issues around copper supply to buttress their arguments.”

    “Falling ore grades (G&R has a convincing argument that porphyries, responsible for 80% of global supply, are nearing a reserves cliff), decades of underinvestment in exploration and development, and the vexing role of scrap have underpinned price expectations for a long time.”

    “To these factors, add the spectre of an unfavourable investment environment – to put it mildly – in Chile under a new constitution and left-leaning government. Goldman says some 1 million tonnes of future supply from the country could be in danger.”

    “In Peru, the lurch leftward could make Chile’s proposed 75% royalty rates at today’s copper price look market friendly. If the frontrunner in presidential elections promises not to nationalize mines but would rather negotiate, you know how far the goalposts have shifted.”

    https://www.mining.com/120-year-chart-shows-copper-price-supercycle-only-starting/

    • On June 5, 2021 at 3:26 pm,
      Excelsior says:

      New Copper-Gold Listing From A Founder Who Keeps Winning

      Jay Martin, Cambridge House – June 1, 2021

      “Mark O’Dea (of Oxygen Capital) is back on the show with first-time guest, Peter Bell, to talk about their newly formed Copper-Gold exploration company (NWST) (SGRNF) Northwest Copper Corp.”

      https://youtu.be/uhlmEqS-u_M

      • On June 5, 2021 at 3:38 pm,
        Excelsior says:

        Here’s the larger Copper Summit that talk came from last week, which was fantastic. I had posted it on Monday or Tuesday, but just in case anyone is interested in investing in the Copper mining sector, this is a great overview.

        ________________________________________________________________

        Copper Summit – Copper Stock Picks, Copper Price Predictions and Market Analysis

        Jay Martin, Cambridge House – May 30, 2021

        “Copper has been hitting all-time highs in 2021 and we’re going to figure out if the metal and copper mining stocks are overbought – or if this is just the beginning. We dive deep into both sides of the argument for copper with a panel of the most influential investors in the copper sector. These investment gurus share their thoughts on the factors driving copper prices – including inflation, supply shortages, and the green energy revolution – as well as copper stock picks and forecasts for 2021. We also talk to a shortlist of 3 CEOs of copper companies with the potential to deliver big returns in a copper bull market.”

        0:00 Intro
        2:41Tavi Costa | Crescat Capital
        32:34 Shawn Wallace | Torq Resources Inc
        50:44 Warren Irwin | Rosseau Asset Management
        1:28:26 Rick Trotman | Barksdale Resources
        1:42:15 Jamie Keech | Resource Insider
        2:09:20 Mark O’Dea & Peter Bell | NorthWest Copper
        2:26:34 Rick Rule

        https://youtu.be/qnaxkWgs5dk

        • On June 6, 2021 at 5:41 am,
          Wolfster says:

          It was a long one but worthwhile….sorry Torq but Peru sounds sketchy these days. Thanks Bonzo for replying on my question regarding people’s thoughts on Peru…. barksdale piqued my interest to add to my copper group…. northwest after taking profits in others

          • On June 6, 2021 at 10:01 am,
            Excelsior says:

            Good thoughts Wolfster. Yes, Barksdale looks interesting, but the only company out of those 3 I have a stake in is NorthWest Copper (now run by the Oxygen Group) and is the merged company of Sun Metals and Serengeti where both assets are now under one roof.

            Cory recently did a nice interview with Northwest Copper a little over a week ago:

            http://www.kereport.com/2021/05/27/northwest-copper-a-dive-into-the-high-grade-copper-resource-estimate-from-the-stardust-property-in-bc/

          • On June 6, 2021 at 10:07 am,
            Excelsior says:

            Wolfster – have you ever looked into (GCX) Granite Creek Copper?

            It is part of the Metallic Group umbrella with Greg Johnson at the helm of those 3 companies (Metallic Minerals, Group Ten Metals, Granite Creek Copper). I’m impressed with their teams, their systematic approach, and their large potential for district scale projects in Silver, PGM/Nickel, and Copper respectively.

            Here is the Granite Creek Copper corporate presentation for review. Does anyone have any thoughts on this company?

            https://gcxcopper.com/site/assets/files/3682/2021-05-06_gcx_presentation_live.pdf

          • On June 6, 2021 at 5:38 pm,
            Wolfster says:

            Yes I’ve heard of them….believe they’ve been high on john fenicks list

      • On June 6, 2021 at 7:05 pm,
        Excelsior says:

        Copper Price Up As Global Smelting Rebounds

        Mining.com Staff Writer | June 4, 2021

        https://www.mining.com/copper-price-rebounds-while-global-smelting-touch-fresh-highs/

  4. On June 5, 2021 at 8:14 am,
    Excelsior says:

    Central Bank Gold Practices; US Debt and Gold

    CPM Group – June 4, 2021

    “CPM discusses central bank gold purchases, sales, and leasing policies and practices, along with issues related to central bank monetary reserve policies. The video also discusses the relationships between U.S. federal deficits and debt and interest rates, the dollar, the economy and gold, based on the Front piece of today’s Precious Metals Advisory report.”

    https://youtu.be/fimg7ZB8wGA

  5. On June 5, 2021 at 8:14 am,
    Excelsior says:

    Taper Fear Gives Way to Inflation Fear

    By Paul Wong | Wednesday, June 2, 2021

    “May 2021 was the best performing month for gold since July 2020, with the yellow metal climbing 7.79%. Silver rose 8.14% for the month. By contrast, platinum lost 1.10% and palladium fell 3.74%. Gold mining equities added 13.92% in May.”

    “Spot gold rose $137.74 or 7.79% to close the month of May at $1,906.87, retracing all of the Q1 drawdown, one of gold’s most challenging quarters in several years. Gold formed a double bottom low at the end of March and has advanced in a very persistent narrow volatility range without pausing at any resistance levels, highly suggestive of systematic buyers returning. The much more volatile selling from September 2020 to March 2021 with downward breakaway price gaps was more representative of weak holders in capitulation selling. Gold has now broken out of its short-term bear channel and is advancing well above the 200-daily moving average (see Figure 1). MACD8 has also risen above the zero line, another technical confirmation of the uptrend resuming. We view $1,960 as the gold price’s next significant resistance level. Between $1,960 and gold’s all-time high of $2,075 is a gap zone that will need to be filled in.”

    https://sprott.com/insights/sprott-monthly-report-taper-fear-gives-way-to-inflation-fear/#

  6. On June 5, 2021 at 8:15 am,
    Excelsior says:

    Rick Rule Uranium Update – “Uranium Stocks Are Overvalued, I Sold Some”

    BABY Investments – June 3, 2021

    “On June 1, 2021, I talked again to Rick Rule. He said multiple times in the last few months, that he will be looking to get into uranium stocks. However, in trying to do so, during the month of April & May, the uranium stocks “got away” on him, as Rick said himself.”

    “So, instead of increasing his exposure, he actually sold (trimmed) some of his uranium stocks, as he deems most of them to be overvalued, especially the junior uranium stocks.”

    https://youtu.be/GQj82oJjCtM

    • On June 5, 2021 at 8:38 am,
      Excelsior says:

      Rick Rule: 💰 Gold, Silver & Mining Stocks

      I Love Prosperity w/ Jake Ducey

      “In this video Rick Rule talks about the mindset of becoming successful. He shares the most important mindsets to begin getting rich, what you need to do, how to think, and how to invest. Rick also discusses gold, silver and mining stocks. Rick is a famous gold and silver investor and shares his opinions on the market moving forward. ”

      https://youtu.be/qbgM4tH5eAI

      • On June 5, 2021 at 6:54 pm,
        Excelsior says:

        Todd “Bubba” Horwitz – Gold or Silver, Which Metal Will Go Up the Most?

        Wall Street Silver – June 4, 2021

        https://youtu.be/-GISs5zPx_Y

  7. On June 5, 2021 at 8:15 am,
    Excelsior says:

    Ross Beaty: Legendary Mining Investor on Equinox Gold, ESG & How To Invest $EQX

    by @SFLive on 1 Jun 2021

    Deutsche Goldmesse 2021: Closing Keynote & Fireside Chat

    “Legendary Mining Investor Ross Beaty joins us for a closing fireside chat on Deutsche Goldmesse. Topics: Equinox Gold, ESG, Patient Investing & More. ”

    https://youtu.be/fA77ZuX1DTk

    • On June 5, 2021 at 9:04 am,
      Excelsior says:

      How to Trade Commodities Amidst Rising Inflation with Pro Trader Nick Santiago

      MiningStockEducation – June 3, 2021

      0:00 Introduction
      0:22 Trading commodities amidst inflation
      4:27 Are the bag-holders always retail investors?
      6:15 Small-cap stock short squeezes
      8:38 Trading gold & gold stocks
      9:23 Oil
      10:05 Trading black swan events
      10:46 Watching where politicians invest
      12:00 Impact of increased U.S. taxes on the markets
      13:55 USD
      14:31 “Sell in May and go away”?
      15:35 Nick’s performance YTD

      https://youtu.be/7BEz4FFB53k

    • On June 5, 2021 at 10:53 am,
      Thomas says:

      Thanks for the link ex

      I am a big fan of Ross and a happy Equinox shareholder

      • On June 5, 2021 at 1:05 pm,
        Excelsior says:

        Sure thing Thomas, and so am I.

  8. On June 5, 2021 at 8:19 am,
    Excelsior says:

    A Tale Of Two Reports And How They Took Gold Investors On A Volatile Ride

    The Gold Forecast – Gary Wagner – (06/04/2021) #TechnicalAnalysis #Chart

    “The underlying characteristic of gold pricing over the last 48 hours has been akin to a wild carnival ride. It began yesterday when ADP released its National Employment Report which concluded that private payrolls increased by 978,000 jobs last month…”

    https://youtu.be/mR88Crr5alE

    • On June 5, 2021 at 8:33 am,
      Excelsior says:

      Breakouts And Potential Breakouts (General US Markets, Oil, Gold)

      Smart Money Tracker – G.S. – June 5, 2021 #TechnicalAnalysis #Chart

      https://youtu.be/EWzZKnnfRwA

      • On June 5, 2021 at 8:35 am,
        Excelsior says:

        Chris Vermeulen – Blue Skies Ahead for Precious Metals

        Sprott Money – Precious Metals Monthly Projections – June 3, 2021 #TechnicalAnalysis

        “We’ve seen some big rallies in gold over the last few months, and as we wrap up the month of May, the long-term charts are looking good. Host Craig Hemke sits down with Chris Vermeulen of the Technical Traders to break down all the gold and silver charts you need to prepare for the month ahead.”

        https://youtu.be/LgQF19_kzT0

        • On June 5, 2021 at 8:52 am,
          Excelsior says:

          US Dollar Breakdown – June 4, 2021 – Walk & Charts

          iGold Advisor – Christopher Aaron – June 4, 2021 #TechnicalAnalysis

          https://youtu.be/zxN1r42Izzk?t=20

          • On June 5, 2021 at 2:09 pm,
            cfs says:
          • On June 5, 2021 at 3:50 pm,
            Excelsior says:

            CFS that was another solid Uranium segment with Rick Rule.

            It would be awesome if you labeled what your links were about, as I almost didn’t just click on a blind link.

  9. On June 5, 2021 at 8:19 am,
    cfs says:
  10. On June 5, 2021 at 10:46 am,
    Matthew says:

    GDM (gold miners index) turned up just above Fibonacci fan support and 30 day MAs…
    https://stockcharts.com/h-sc/ui?s=%24GDM&p=D&yr=1&mn=5&dy=0&id=p95245461304&a=734136732

  11. On June 5, 2021 at 10:48 am,
    Matthew says:
  12. On June 5, 2021 at 10:51 am,
    Matthew says:

    The UST 10 year note had its best weekly close in 3 months and looks ready for a good bounce and maybe more…
    https://stockcharts.com/h-sc/ui?s=%24UST&p=W&yr=5&mn=0&dy=0&id=p38540393977&a=726005016

  13. On June 5, 2021 at 11:01 am,
    Matthew says:
  14. On June 5, 2021 at 11:05 am,
    Matthew says:

    GDX is also hardly worrisome from a weekly perspective:
    https://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=2&mn=11&dy=0&id=p81944798387&a=965300677

  15. On June 5, 2021 at 11:07 am,
    Matthew says:
  16. On June 5, 2021 at 11:08 am,
    BDC says:

    Maple Gold: https://postimg.cc/ZBsFdqmj
    Down nearly 100% (.0230) at 2020 Reset.
    Possible downside, per general PM markets:
    Navy Hash Line: 50% (moderate downturn).
    Red Hash Line: 78.6% (deeper decline).
    (Based upon current year; Lime: ATHBO.)

  17. On June 5, 2021 at 11:56 am,
    Matthew says:
  18. On June 5, 2021 at 3:40 pm,
    Excelsior says:

    Wall Street Reins In Hedge Funds’ Short Bets on Meme Stocks

    By Eliza Ronalds-Hannon and Jennifer Surane – June 4, 2021 – Bloomberg

    “Goldman Sachs Group Inc., Bank of America Corp., Citigroup Inc. and Jefferies Financial Group Inc. are among firms that have adjusted their risk controls at prime-brokerage operations, according to people familiar with the moves. The banks are trying to protect themselves against fallout from extreme surges and dips that have characterized trading in companies including AMC Entertainment Holdings Inc., MicroVision Inc. and GameStop Corp.”

    https://www.bloomberg.com/news/articles/2021-06-04/wall-street-banks-rein-in-hedge-funds-short-bets-on-meme-stocks

    • On June 5, 2021 at 3:57 pm,
      Excelsior says:

      AMC: When Bad REIT Tenants Become Good Tenants

      Jun. 05, 2021 – Dane Bowler – Seeking Alpha

      “I don’t invest in meme stocks, but meme stocks are now affecting the rest of the market.”

      “AMC is a major tenant of many REITs and its recent cash infusion makes it a much more reliable rent payer.”

      “Certain REITs have become opportunistic as a result.”

      “During the pandemic, REITs were heavily punished by the market for having AMC anywhere on their tenant roster, and given the information at the time, I don’t think the market was wrong in this judgement. Theaters were shut down by the pandemic, and given the resultant financial strains, receipt of rental checks from AMC became uncertain.”

      “For some REITs this was a very big deal with AMC making up a significant chunk of rental revenues. ”

      “This is potentially a good buying opportunity because their largest tenant just got a massive cash infusion. AMC was able to take advantage of its currently meme fueled stock price to raise $587mm in fresh equity capital.”

      https://seekingalpha.com/article/4433269-amc-when-bad-reit-tenants-become-good-tenants?mail_subject=dane-bowler-amc-when-bad-reit-tenants-become-good-tenants&utm_campaign=rta-author-article&utm_content=link-0&utm_medium=email&utm_source=seeking_alpha

    • On June 5, 2021 at 3:59 pm,
      Excelsior says:

      Apparently Tanger Factory Outlet Centers, Inc. (SKT) is another stock that the Reddit/WSB/Robinhood retail mobs have in their sites. There is a 30% short position in the company which is quite high, and it has moved up below $6 to above $18 in the last few weeks.

      These #ShortSqueeze “meme stocks” are the height of speculation run wild and yet these retail hordes are also exploiting the situation of companies that have abnormally high short positions that can be forced higher through excessive buying. This is going to start forcing institutional investors and hedge funds to think twice about overly shorting stocks from now on, and may represent a tipping point in financial markets where the little guys strike back.

      • On June 5, 2021 at 4:00 pm,
        Excelsior says:

        This kind of activity has got to be late cycle, end of cycle activity, that we see when the bubbles swell to levels nobody thought was possible, and we are seeing it almost everywhere in the last year… We see runaway prices to the upside in Collectibles, in virtual art NFTs, in the SPAC phenomenon, in Tesla, in Cryptos, in Commodities (Lumber, Copper, Oil, Lithium, Nickel, PGMs, Soft ‘Food” Commodities), Vaccine stocks & Biotech, Semiconductors, Small Cap stocks, growth stocks, real estate prices, etc…

        The music will eventually stop, and investors will start scrambling and looking for a chair of safety from carnage, and while things may get dicey for a while, the precious metals are one part of a larger diversified portfolio that should provide some protection or at least pull back less than other overbought sectors at nosebleed levels.

  19. On June 5, 2021 at 3:45 pm,
    Excelsior says:

    Market Hits All-Time Highs As Money Flows Peak 06-04-21

    Written by Lance Roberts | Jun 5, 2021

    “The good news is that we did indeed get the rally we were expecting. The not-so-good news is that the rally already consumed a majority of the ‘buy signal.’ Such does not mean the market is about to correct; it does suggest that upside remains limited near term.”

    As shown in the bottom panel, the RIA PRO “Money Flow” signal is now into overbought territory. While the markets could undoubtedly break out to new highs next week, the upside remains limited. Such is due to the weekly signal, which is very close to triggering.

    “Our more significant concern remains the weekly “sell signal.” Historically, these weekly signals typically denote periods of more significant volatility swings or corrections. The biggest correction risk comes when the daily and weekly signals align.”

    https://realinvestmentadvice.com/market-hits-all-time-highs-as-money-flows-peak-06-04-21/

  20. On June 5, 2021 at 4:43 pm,
    Glenfidish says:

    Gold Update!

    Gold continues to swing up and down and confuse many investors… The opposite side of the trade is dollar and 10 year treasury yields the same.

    There are two catalyst here that I want to speak of. Number one if gold has bottomed and indeed is in a intermediate trend up, then you may only have this week as the last opportunity to get in the boat “if” it pulls back. I would say at this point valuations in the miners are so depressed that entry points here would pay premiums in 18 months. What I’m saying is even worse case we do go down which can happen your investments could be cut substantially but it would be for a very short period and it would be just the wait that sucks.

    Open transparency I plan to purchase very soon and will let you all know when it’s done.

    Moving on to a different investment vechicle wanted to get wolfs or anyone else who has experience in the pot sector. Is pot ready to explode higher and is pot very closely aligned with precious metals movement?

    Once again I plan on allocating money very soon to miners but will distribute within another sector as well.

    The only thing at this point that would cause gold to make a new low would be yields rising to 2% and dow Jones crashing. Something that is possible. But as I see it, the fed would make this happen ata later date!

    Glen

    • On June 5, 2021 at 5:14 pm,
      Excelsior says:

      Hi Glen,

      I had read your gold update yesterday, and it seemed you were projecting it to go up to the well-established resistance at $1950-$1960 and then head down much lower levels in the $1500’s. You’ve also mentioned a number of times the last few months that you felt people were buying too early and that gold was going to head much lower, possibly into Sept/Oct for a low.

      If that is the case, then wouldn’t it be better to wait for the correction to those lower levels before buying into the miners? I might not have understood what you were saying in the above post, but you had said you were going to be buying into the miners soon.

      This was the part from yesterday’s update that seemed to indicate you still felt there were much lower lows coming in the metals in the coming months.

      ________________________________

      On June 4, 2021 at 4:33 pm,
      Glenfidish says:

      There are two things happening here. Either that daily/ weekly candle is a fake out and another week down or the strength is there and the bigger correction will come from the massive rejection at $1950-$1960 and that will do one of two things. Take us down $100 bucks give or take or start the next leg down to $1520-$1550.”

      • On June 5, 2021 at 5:20 pm,
        Excelsior says:

        Also on Thursday, I got the impression from this post that you felt a short term top was in place for Gold and that it may head down into the high $1700s on the next move. Are you saying above that you are still expecting that move down and that is where you’re going to wait to deploy your 20% of funds, or do you think that move down has been negated now and that the rally may extend?

        __________________________________________________________

        > On June 3, 2021 at 7:27 am,
        Glenfidish says:

        “Jordan perfect timing for the gold top lol..I mean its classic.”

        “We have started a daily cycle low targeting minimum $1797 but $1765 screams loud.. That $1902 top i had worked out just fine and mgd top of $41 cam up just short.”

        “The weekly should let us know how this correction proceeds if it will be hard massive red candle down today, over few day or a week..Could also play out as a one or two week event.”

        “My bigger question will be how the miners act around this correction and i have been saying for some time many will be dragged down and break previous moths low.”

        glen

  21. On June 5, 2021 at 6:15 pm,
    Glenfidish says:

    Hi Ex,

    Thank you for your questions and summary of my previous post. I don’t want to confuse you or anyone but for facts, my mind is constantly moving and working and being a Saturday I’m doing my homework and I’ve come to the conclusion that sometimes the best move is to be proactive and make a move instead of being complacent.

    This is correct that I still believe a move down into the $1764 region within this month is possible but would have to come quick within this week, meaning a continuation pattern off Thursdays correction. Fridays green candle left traders with a sense of slightly bullish/bearish sentiment combined with what many investors believe could be higher yields coming would cause that correction down into those fib retracements.

    My homework has made the conclusion that even if that were to happen the miners have been showing strength and if they even if they did break down, the catalyst would have to be something much more powerful then a fib correction due to intermediate uptrend. Basically what I’m saying is that I still hold the thought that $1520-$1550 would “ only” be possible with a major market correction and yields exploding higher or rising higher into 2 % territory. To me is seems the fed will allow it to go side ways and rise into fall which would more then likely allow gold to rise into fall and correct from higher levels while the fed possibly screams they will intervene.

    I would conclude this Ex just so all the viewers and yourself understand me fully. I never ever ever take away the fact that the market can take us down at will when it wants to. I don’t currently feel that threat all though caution is always advised. What strengthens my views are the companies I plan to purchase are solid, wayyy undervalued and can overcome any obstacle at least my research thinks. The work I have done to determine the accounting of these companies includes you, Matthew, my own accountant, others commentators in here and me personally calling and speak with representatives of such companies. Sometime for me at least hearing the voice helps.

    At this point I feel strongly that the risk/reward is far better Upwards then downwards and if by chance the shit reversed I’m ok waiting it out because the down would it last long.

    I hope this helps with clarity. What we all must do is keep a close eye on equities as if that shit goes down it will drag us down temporarily and allow market makers to go to town with shorts. Other then that I like what I see..

    I’m also very interested in th por sector and would like your thoughts wolf or anyone else. I think there is huge potential there and volume is much larger then in the miners. Bitcoin as many have said has taken many young Investors money and gone in that directionsz. These miners should be screaming higher maybe they catch a really good bid soon!

    Glen

    • On June 5, 2021 at 6:37 pm,
      Excelsior says:

      Thanks Glen, as that did help clear things up a bit more.

      So for the metals, you feel a move down to $1764 is possible, but it would have to happen in more short order, following through on weakness seen on Thursday. As for the potential moves down into the $1500s, if I’m understanding correctly those would only be in the scenario of an all-out market crash in the general markets then. That makes sense.

      As for the mining stocks, you feel the risk/reward is better upwards than downwards, and that any downside would not last as long in the miners as it could in the metals, so regardless of the moves in the metal, you are more constructive in the miners here. Hopefully I’m understanding that correctly based on your update.

      That makes sense, as I personally still don’t believe the miners are even reflecting the moves higher in the metals and they are still at much lower valuations than they were in the last metals cycle in 2011 when the metals were at these current prices, or even lower metals prices. I actually trimmed back a number of gold and some silver stocks over the last 2 weeks to raise some funds, after having a nice 2 month run in the miners, to be able to exploit any weakness in the miners in June, but still have a very large portfolio allocation to both the gold and silver miners (with nearly 60 PM stocks). I also have trimmed back a few of my PGM and Uranium stocks the last 2 weeks. It feels good to have some funds raised, and to have pulled profits, with the danger being I trimmed some PM stocks a bit too early and the run keeps extending in Gold and Silver in June, instead of taking a pause that refreshes.

      As for the Pot Stocks, I believe we are getting close to a low, and have been aggressively by the ETFs (MJ) and (POTX) and have 4 other positions in Delta 9, Emerald Health, IM Cannabis (hat tip to Wolfster), and Fiore Cannabis (hat tip to Dan, calgary). I’ve got a small gain in the 2 ETFs and Delta 9 and Emerald Health, but roughly a 20% loss in IM Cannabis & Fiore at present, and am debating adding to those positions. I also may add a few more larger cannabis stocks to the mix like Curaleaf, Planet 13, or Tilray, but also am still considering Red White & Bloom, and Agrify.

      • On June 5, 2021 at 6:50 pm,
        Excelsior says:

        Another sector that was hot in 2020 and early 2021, but that has really pulled back substantially is the Clean Energy sector, and I’d love to get anyone’s thoughts on this.

        I’ve spent the last 2 weeks entering this sector for the first time in years and have been purchasing the Solar ETF (TAN), the WilderHill Clean Energy ETF (PBW), Altius Renewable Royalties Corp. (ARR), Algonquin Power & Utilities Corp (AQN), and Array Technologies Inc (ARRY).

        Those Clean Energy stocks seemed to have pulled back down by 30-50%+ in most cases, and look to be at more attractive valuations now, so I put a few fishing poles in that pond as of late.

        I’ve also been buying up battery stocks lately like HPQ Silicon, Pyrogenesis, Electrovaya, and Eugana as they’ve also pulled back nicely and seem more attractive down at present levels. Unfortunately I missed the big move higher recently in Neo Batteries Materials, but it looks to have run higher and hotter than the others at this point. I guess they tie into that Clean Energy sector to some degree.

        Wolfster, I’m still considering the 2 EV charging station stocks we’ve discussed, but they still seem overbought to me. Watching and waiting for an entry in those…

        Anybody else have any Clean Energy or Battery stocks they are liking?

        Is anyone here into the Hydrogen Fuel Cell companies like Ballard Power Systems, Fuel Cell Energy, or Plug Power? I believe Dragonite had mentioned Ballard Power systems in the past. They got hot, and now they are not, so the contrarian in me wonders if they are at a good spot?

      • On June 5, 2021 at 7:21 pm,
        Glenfidish says:

        Ex,

        It’s very interesting that you bring up a very solid point regarding the valuations with the miners and the current price. Thank god at least I’m not alone in thinking that way. Maybe this si now something many investors can understand about glen being so pessimistic for sometime because I keep scratching my head as to why the miners are not much higher at these prices a all I can lom point to is either Bitcoin Reddit crowd or just the young investment new generation has no attachment to us and they are all Bitcoin.

        This is Ex one if not my main reason why I’m cash 20% and the word I would use is not comfortable with this move that I understand many believe is the start of something big. It’s why I hold back and keep saying the miners should be leading the gold not the other way around or maybe others see it differently. I think if a bid does catch like say Gary savage mentioning we are about to start the wave three up or second daily cycle in gold within an intermediate cycle and he says will be explosive then they better start moving yet the monthly in some of these miners continues to show red.

        Regardless of all of this I think it’s wise and prudent to have some cash as many smart investors ex as you know have gone to sidelines waiting for at least some form of deeper correction in equities. The monthly is overbought but as we know can keep rising.

        Thank for letting me know your positions. Yes my $1520-$1550 is if we have a deep market correction and the $1764 is a fib I use but would have to come within this week. This week would show us which way the monthly will swing. Currently the bulls are in control within the pass two months. Something big would be the catalyst to reverse and monthly I personally don’t see it but as I have mentioned won’t rule it out until that higher Intermediate trend line is broken at $1950ish.

        I’m trying to buy value stocks something you mentioned over a month ago just getting in on good value and good companies run well.

        Those are some great licks for pot.

        If you or wolf can give me some in the Canadian sectors I would appreciate it. Going to go through the ones you showed me.

        Thanks again

        • On June 6, 2021 at 9:39 am,
          Excelsior says:

          Sounds good and thanks for clarifying a few points. Yes, nothing wrong with having some dry powder raised to fire off during any corrective moves.

          As for the miners, I’d submit that the larger & mid-tier producers inside of GDX and GDXJ have been outperforming the move higher in Gold the last 2 months, but we have not seen that filter down into the real junior gold miners, and Silver and the silver miners have been rather rangebound and not really surging and leading the way, but I’d anticipate that changing soon if the PMs are about to continue their move higher, or after any shorter-term corrective move. Eventually the Juniors and the Silver miners should be leading the charge, but they often lag at the beginning of a new uptrend, and then play catchup and start to outperform.

          Also agreed about buying deep value when it presents itself, and riding up more sure bets first, to then rotate out to more speculative plays when the trend is building strength. I’ll give an example of what I mean for anyone else following along in this discussion.

          Back in late February – March of this year, when we were already 7-8 months into the corrective move, I was starting to run out of my dry powder and spare funds to deploy, so I decided to sell out of a few remaining dogs (like Americas Gold & Silver and Gold Resource Corp) and to shelve my desire to get in a few more speculative names in the juniors. Instead, I put the funds I had left into what I felt to be the quality companies, doing good work, that had pulled back down a lot (Sandstorm Gold, Equinox, Wesdome, Calibre, Metalla Royalties, Silvercrest, etc…). It was my thesis, that the largest and most established names would get the bid first in any turnaround, and even though they would not be the 10 baggers many are looking for, I just didn’t want to lose money on a speculative risk, and wanted to ensure the stocks picked would be well bid if things did turn around in the metals. All of those companies did well bouncing off the March double-bottom, and made nice moves higher in April and May, and they are some of the same stocks I recently trimmed back over the last 2 weeks to be prepared to reinvest if the metals did pull back into June, or if things keep ripping to deploy further down the foodchain into the developers and explorers. This is the same basic approach I take around most major sell downs, to buy deep value first, get the lift out of the lows and make some gains, then trim those back again and rotate into more speculative juniors after that.

          That approach has paid off time and time again during deep corrective moves, into the first bounce of the new trend (Wave 1), and then trimming of those profits to raise funds and do a rotation into the smaller cap developers/explorers on the next pullback downwards (Wave 2) to ride up the second leg higher (Wave 3), and then trim again after this more extended move higher before the next corrective leg down (Wave 4), and then throw everything at it during that price dip for the final wave higher (Wave 5). It is one of the basic concepts behind Elliot wave, and this 5 wave approach is typically followed by a 3 wave (A/B/C) corrective move (A is down, B is up , C is down).

          The pandemic crash in March of 2020, followed by the rocket ride higher was another example of where it was important to buy the very best names, and I also went with quality names first, which would definitely recover, and then got more speculative as things continued to rise. I didn’t just do that in Gold/Silver, but in Uranium, Lithium, PGMs, Copper, etc…, and then over time rotated into more speculative names into the spring of 2020, and then trimmed in the summer of 2020. I was not expecting such a protracted correction though in the PM mining sector from August of 2020 through March of 2021, but was happy to have been diversified in other sectors like Cryptos, Copper, PGMS/Nickel, Uranium, Lithium, Zinc, etc that were moving during the PM correction.

          At this point I consider that Pandemic Crash in March of 2020 a major reset in most markets and charts, and the V-shaped move higher in almost all markets out of that as an anomaly that was good to exploit, but it broke below and above the norms and needed time to be digested.

          For the PMs, I saw the double bottom in March as a potential reversal in trend, but still was unsure if it was just going to be a dead-cat bounce, or break up through resistance to confirm the move. In my opinion, when Majors, Mid-tiers, and Royalty companies started moving first from late March into April and May, and when Gold moved from $1673 & $1675 up through $1850, breaking above the downtrend line, and above the 200 day MA then it was confirmation that the move higher in the PMs was legit.

          Recently the move higher in Gold did face resistance at the old prior all time high of $1921-$1923, and it got rejected back down. Maybe that was the end of this new (Wave 1) but I could see Gold climbing a bit higher first, as stated a number of times previously, to the $1962-$1966 area where those prior peaks and prior troughs make up a congestion zone. I wouldn’t be surprised to see Gold make a move for those and then correct lower for a period.

          Regardless, I’m prepared that Thursday’s sell down in the metals could signal a corrective leg (Wave 2) has already started and we may go down some in June or even early July. On whatever dip we do see, I’ve trimmed back some of the larger cap names I held, to be able to deploy more funds into the more speculative names for the next move higher (Wave 3). I’ll be looking to accumulate those during whatever corrective leg we see here for Wave 2 whether that comes in the next few weeks or next month or so. I believe the next leg higher Wave 3, will be the one that really extends higher and takes out the prior high in Gold at $2089, and where we see Silver break above $30, and the Silver miners and Junior Gold miners take the lead. Maybe that happens from late July/early August through October, but I’m not sure the actual timeframe, more so that the next impulse leg higher, after whatever corrective leg we see, should be the one we’ve been looking for where the miners finally make a big run higher. Seasonally, coming out of the summer doldrums and into the fall makes sense for a run higher like that.

          • On June 6, 2021 at 7:14 pm,
            Canuckski says:

            Ex, what do you believe are considered to be 2-3 of the real junior miners right now? Thanks.

          • On June 6, 2021 at 8:29 pm,
            Excelsior says:

            Hi Canuckski. In general I’d consider and real Jr miner to be under a few billion in market cap, and ideally under 1 billion in market cap (maybe just a bit over). When most think of the real Juniors, they are referring to the smallcaps, which I’d say are under 300 million, and some would be more strict suggesting under $100 million in market cap. There are nanocap or microcaps out there at just a few million bucks and a number around the $10-20 million market cap that quite speculative. There are literally hundreds and hundreds of these “real junior miners.”

            My main point was that most of the stocks in GDXJ are not “real juniors” in that microcap or nanocap sense.

            Most of the GDXJ holdings are mid-tiers between $300-$500 million up to a few $Billion, so the movement of GDXJ is not necessarily tracking the movement folks will see in their much smaller individual junior miners, but still, I’d imagine there is a reasonably good correlation. Of course, in strong bull market they’ll all run higher, and the tiniest market cap stocks will often increase the most on a percentage basis. My comments were on the earlier moves in a uptrend favoring the senior miners being the Major and Mid tier producers, and most massive & advanced developers.

            In a general sense (although there are obvious exceptions) most of the stocks in the GDXJ run the gambit from very larger mid-tier producers, to smaller mid-tier producers, and then some of the largest development projects. They tend to outperform the smaller developers, higher cost optionality plays, and most of the explorers in the earlier parts of moves higher in the mining stocks, but then the speculative capital starts to move further down the food chain.

            This is likely because generalist money flows into the larger producers and royalty companies first, and in particular the more passive choices like the ETFs GDX and GDXJ, and then as the move grows, the retail investors, family funds, and hedge funds start getting positioned more heavily in the smaller producers, smaller developers, and explorers. I believe after whatever corrective move we see here in the shorter term, that more money will flow into these smaller stocks.

            GDXJ Fund Holdings 6/3/2021
            Number Ticker Holding Name Shares % of Net Assets
            1 GFI US Gold Fields Ltd 34,888,623 6.69%
            2 PAAS US Pan American Silver Corp 10,711,738 5.72%
            3 EVN AU Evolution Mining Ltd 67,486,450 4.52%
            4 AUY US Yamana Gold Inc 48,572,149 4.16%
            5 BTG US B2gold Corp 43,923,074 3.63%
            6 HL US Hecla Mining Co 20,831,716 3.10%
            7 EDV CN Endeavour Mining Corp 7,650,527 3.07%
            8 AG US First Majestic Silver Corp 9,681,898 2.84%
            9 SSRM US Ssr Mining Inc 9,553,660 2.82%
            10 AGI US Alamos Gold Inc 17,986,456 2.67%
            11 NG US Novagold Resources Inc 11,379,153 1.93%
            12 HMY US Harmony Gold Mining Co Ltd 22,921,393 1.92%
            13 EQX US Equinox Gold Corp 12,970,535 1.92%
            14 MDKA IJ Merdeka Copper Gold Tbk Pt 601,655,200 1.91%
            15 BVN US Cia De Minas Buenaventura Saa 9,598,388 1.89%
            16 PE&OLES* MF Industrias Penoles Sab De Cv 7,052,186 1.80%
            17 CDE US Coeur Mining Inc 10,178,096 1.66%
            18 EGO US Eldorado Gold Corp 7,904,529 1.52%
            19 SAND US Sandstorm Gold Ltd 9,947,142 1.40%
            20 MAG US Mag Silver Corp 3,799,502 1.37%
            21 PVG US Pretium Resources Inc 7,201,809 1.29%
            22 IAG US Iamgold Corp 20,949,978 1.28%
            23 OR US Osisko Gold Royalties Ltd 5,268,102 1.26%
            24 DEG AU De Grey Mining Ltd 58,297,247 1.16%
            25 SILV US Silvercrest Metals Inc 7,187,997 1.14%
            26 CG CN Centerra Gold Inc 8,636,967 1.14%
            27 CEY LN Centamin Plc 43,009,511 1.14%
            28 KNT CN K92 Mining Inc 10,414,271 1.13%
            29 NGD US New Gold Inc 32,328,522 1.11%
            30 OGC CN Oceanagold Corp 32,237,953 1.11%
            31 GGP LN Greatland Gold Plc 223,270,778 1.07%
            32 WDO CN Wesdome Gold Mines Ltd 6,783,128 1.06%
            33 PRU AU Perseus Mining Ltd 58,269,389 1.06%
            34 SA US Seabridge Gold Inc 3,397,887 1.05%
            35 FSM US Fortuna Silver Mines Inc 9,383,823 1.05%
            36 RRL AU Regis Resources Ltd 30,325,172 1.01%
            37 EXK US Endeavour Silver Corp 8,625,997 1.01%
            38 1818 HK Zhaojin Mining Industry Co Ltd 53,776,000 0.96%
            39 SLR AU Silver Lake Resources Ltd 38,856,190 0.93%
            40 SVM US Silvercorp Metals Inc 8,832,750 0.92%
            41 RMS AU Ramelius Resources Ltd 36,344,469 0.90%
            42 GOR AU Gold Road Resources Ltd 41,805,533 0.80%
            43 POG LN Petropavlovsk Plc 131,381,361 0.78%
            44 DPM CN Dundee Precious Metals Inc 6,623,995 0.78%
            45 SBM AU St Barbara Ltd 31,896,784 0.76%
            46 HOC LN Hochschild Mining Plc 16,766,522 0.76%
            47 TXG CN Torex Gold Resources Inc 3,187,377 0.75%
            48 LUG CN Lundin Gold Inc 4,488,034 0.71%
            49 OSK CN Osisko Mining Inc 14,725,529 0.68%
            50 AR CN Argonaut Gold Inc 15,322,028 0.66%
            51 KOZAL TI Koza Altin Isletmeleri As 2,618,796 0.60%
            52 GBR CN Great Bear Resources Ltd 2,512,562 0.56%
            53 OLA CN Orla Mining Ltd 7,368,866 0.54%
            54 WAF AU West African Resources Ltd 36,383,443 0.51%
            55 MUX US Mcewen Mining Inc 20,764,759 0.49%
            56 ROXG CN Roxgold Inc 15,446,285 0.46%
            57 NFG CN New Found Gold Corp 2,638,383 0.46%
            58 DRD US Drdgold Ltd 2,177,577 0.46%
            59 VGCX CN Victoria Gold Corp 1,742,612 0.45%
            60 KRR CN Karora Resources Inc 7,618,331 0.43%
            61 MOZ CN Marathon Gold Corp 10,384,031 0.43%
            62 WGX AU Westgold Resources Ltd 15,285,094 0.43%
            63 NUAG CN New Pacific Metals Corp 4,834,181 0.42%
            64 SKE CN Skeena Resources Ltd 8,438,395 0.42%
            65 DSV CN Discovery Silver Corp 11,691,856 0.41%
            66 AXU US Alexco Resource Corp 7,253,977 0.35%
            67 BGL AU Bellevue Gold Ltd 33,132,128 0.35%
            68 AMI AU Aurelia Metals Ltd 62,176,005 0.33%
            69 NVO CN Novo Resources Corp 9,889,313 0.33%
            70 PGM CN Pure Gold Mining Inc 14,888,601 0.32%
            71 GATO US Gatos Silver Inc 1,151,819 0.31%
            72 SBB CN Sabina Gold & Silver Corp 12,524,329 0.30%
            73 ALK AU Alkane Resources Ltd 23,515,798 0.30%
            74 WM CN Wallbridge Mining Co Ltd 32,510,884 0.28%
            75 RSG AU Resolute Mining Ltd 37,913,003 0.28%
            76 LGD CN Liberty Gold Corp 11,830,804 0.27%
            77 MTA US Metalla Royalty & Streaming Ltd 1,572,755 0.27%
            78 SVL AU Silver Mines Ltd 58,306,295 0.23%
            79 GLDG US Goldmining Inc 8,002,803 0.22%
            80 MMX US Maverix Metals Inc 2,331,591 0.22%
            81 RED AU Red 5 Ltd 103,416,028 0.22%
            82 GCM CN Gran Colombia Gold Corp 3,079,913 0.22%
            83 GPL US Great Panther Mining Ltd 19,086,813 0.22%
            84 GAU US Galiano Gold Inc 9,242,342 0.20%
            85 GORO US Gold Resource Corp 4,005,343 0.19%
            86 GSS US Golden Star Resources Ltd 3,249,594 0.18%
            87 JAG CN Jaguar Mining Inc 2,106,976 0.18%
            88 USAS US Americas Gold & Silver Corp 6,024,419 0.17%
            89 GSV US Gold Standard Ventures Corp 14,935,456 0.15%
            90 FVL CN Freegold Ventures Ltd 14,474,854 0.14%
            91 IAU CN I-80 Gold Corp 3,516,678 0.13%
            92 CMCL US Caledonia Mining Corp Plc 430,088 0.10%
            93 DCN AU Dacian Gold Ltd 28,539,819 0.10%
            94 SMC CN Sulliden Mining Capital Inc 1,694,754 0.00%
            95 .246 HK Real Gold Mining Ltd 19,287,400 0.00%
            96 ASM AU Australian Strategic Materials Ltd 1 0.00%
            97 — Other/Cash 0.34%

          • On June 7, 2021 at 5:20 pm,
            Canuckski says:

            Thanks for the thorough response Ex. It’s always appreciated!

        • On June 6, 2021 at 7:48 pm,
          Glenfidish says:

          Hi Canuck!

          Just so have a clear understanding about the language between me and ex, I would advise you do your own do diligence. Ex had mentioned many companies in the pass that have not time well I think that’s why he always tells you to be cautious or I would hope so.

          Overall ex has good info and takes on certain companies but what he give you, it’s your responsibility to look deeper into it.

          Glen

          • On June 6, 2021 at 8:42 pm,
            Excelsior says:

            Hi Glen – Yes, of course everyone should always do their own due diligence, have a somewhat discerning approach in anything they invest in, and not take anything said as investment advice. I share or discuss companies I like, companies I’m watching but don’t own, sector leaders I don’t own but do significant things in the industry, discuss companies I don’t like, and discuss some companies as sector benchmarks or special cases.

            This is an investment blog, mostly focused on resource stocks, so that is what I discuss on here most of the time. Also, my approach is as an active portfolio manager, and I’m often swing-trading around core positions much more frequently than a buy and hold value investor, or someone that just dollar costs averages in a stock. For example, I may do a trade in a stock I’m discussing in a few days, or a few weeks, or a few months, which is definitely not the right approach for everyone’s style, risk tolerance, portfolio approach or goals, or comfort levels.

            Some of this is common sense – All investors assume their own risk and must take personal responsibility and have personal accountability for any trade they take on, after they’ve done the research, and have decided for themselves if they want to speculate, how much, for how long, with what goals, and with what exit strategy?

          • On June 7, 2021 at 5:22 pm,
            Canuckski says:

            Thanks for the note Glenfidish. I personally don’t know of too many real juniors in terms of microcaps, but thought I’d ask the master-lister. 🙂

  22. On June 5, 2021 at 6:20 pm,
    Glenfidish says:

    I would add that I plan on using 10% of my cash on this purchase. Possibly 15%
    Sitting in cash I don’t like for to long. The remainder is to cost average down if it does it to buy ins higher level retrace

    Glen

  23. On June 6, 2021 at 7:43 am,
    David says:

    Glen/Ex;
    Excellent discussion. It makes the debate easier to follow. Thanks to both for the clarification.

    • On June 6, 2021 at 8:27 am,
      OOTB Jerry says:

      ditto……… I agree……….

      • On June 6, 2021 at 9:43 am,
        Excelsior says:

        Sure thing David and OOTB. Just throwing out my 2 cents, and glad to get Glen’s clarifications as well. Nobody knows anything, as Bob M. states, but it is fun to wargame the potential paths forward and most importantly, everyone should take inventory of their own portfolios, and asses if they are over-exposed or under-exposed to different sectors of miners (gold, silver, copper, pgm/nickel, zinc, uranium, etc…), and if they are over-exposed or under-exposed to the different stages of mining (producers, developers, explorers, royalty companies) as typically not everything runs at the exact same time, and being diversified, and then rotating focus during the different stages of a bull market can be quite rewarding.

        • On June 6, 2021 at 4:43 pm,
          OOTB Jerry says:

          Forever learning……… 🙂

          • On June 6, 2021 at 4:45 pm,
            OOTB Jerry says:

            I am glad people share their thoughts …… and what they have learned…. right or wrong…
            both are valuable…. JMO..

          • On June 6, 2021 at 8:51 pm,
            Excelsior says:

            Absolutely OOTB. The more people share what they have learned, right or wrong, both have value, and make us all better informed investors. Cheers!

        • On June 6, 2021 at 8:21 pm,
          Glenfidish says:

          Hmmmm Ex,

          Had to come back to this post regarding know one knows anything? Is this sarcasm or a joke? I’m trying to give you the benefit of the opportunity to explain because I don’t consider myself in that category of not knowing anything and find it a bit insulting. So please clarify to the audience what you are saying?

          In defense to that I have called a pretty outstanding outline and trend to gold. I called the right shoulder to break before it happens while many pundits including yourself were not sure. In fact one Ku dot kept pumping gold higher and caused investors to put there hard working money on two months prior to the possible low of gold. Does that pundit get a pass? I do think so because investors would have been marked from those highs.

          So please elaborate what you are saying ai the audience understands you better

          Glen

          • On June 6, 2021 at 8:31 pm,
            Glenfidish says:

            I meant does that pundit get a pass because he told investors the low was in two months before it happened? No!

          • On June 6, 2021 at 8:34 pm,
            Excelsior says:

            Glen that comment was just a joke about the book Bob Moriarty wrote called: “Nobody Knows Anything.” OOTB and I reference it all the time, just horsing around.

          • On June 6, 2021 at 8:57 pm,
            Excelsior says:

            In general I agree with Bob M.’s main point, that nobody knows the future, nobody is always right, nobody is really a guru, and ultimately, an investor can’t place their faith in an external person on a pillar.

            Instead they must discern for themselves the best path forward and chart their own course, with the best data available for their trade. It’s up to each person to know themselves, know their risk tolerance, goals, investing thesis, and why they are buying, and why they will sell. That’s the main takeaway.

          • On June 13, 2021 at 8:05 am,
            Excelsior says:

            As for the right shoulder in “your” inverse head and shoulders pattern you kept banging on about in January and February, as we’ve discussed a number of times, that was a failed pattern and you were dead wrong about it Glen. In dozens of posts of you stated gold would imminently break out in Jan & Feb of this year before you flip-flopped in March (when the trend clearly was heading lower) to Gold was going to have a bloodbath down to the low $1600’s or high $1500’s and that anyone buying in March was going to be sorry, and have a world of pain. Of course, this was also dead wrong, and it was actually the best time to be buying miners in March. So no, that doesn’t get an award or a pass guy.

        • On June 6, 2021 at 8:28 pm,
          Glenfidish says:

          Wolf, thank a bunch! I’m personally not scared of pot in the Canadian sector as the fundamentals and Infrastructure has been put in place. We now know for about five years that marijuana is not going away and will be the driving force forward in the New millennium. As investor we all know that Tabaq one alcohol along with pharmaceuticals have dominated the space as far as the eye can see. But since the governments are broke they have had to find a way to get a new source of revenue marijuana and part is that Avenue. They have infrastructure and handed out licenses marijuana solar and technology is the future.

          Canada will be a leader in the pot industry imo

          Glen

    • On June 6, 2021 at 11:13 am,
      Matthew says:

      From “100% guaranteed new lows” to “purchasing very soon” it seems any debate is now gone. Of course, the debate was over a long time ago from my perspective.

      IF gold needs to chop around a bit more from here, it will probably last less than 2 weeks.

      Gold pulled back to backtest the area of 3 supports last week: The KAMA, the 50 week MA and the highest possible downtrend resistance-turned-support:
      https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=5&mn=0&dy=0&id=p20040699287&a=966993182

    • On June 6, 2021 at 7:12 pm,
      Canuckski says:

      I agree David. That was an enjoyable and productive discussion string. Thanks to both Glenster and Ex!

      • On June 6, 2021 at 8:03 pm,
        Excelsior says:

        Thanks Canuckski, I love productive discussion strings. Cheers!

    • On June 6, 2021 at 8:14 pm,
      Glenfidish says:

      Hi David,

      There really is no debate here if you listen between the lines lol.

      I’m glad you enjoyed intellectual talk…

      Glen

      • On June 6, 2021 at 8:46 pm,
        Excelsior says:

        Agreed Glen. I didn’t think we were debating anything, but rather just unpacking our thoughts and outlooks. It was a nice intellectual talk as you mentioned. I was thinking that was what chat forums were all all about… sharing ideas, thoughts, opinions, data, and strategies with other like-minded folks.

      • On June 7, 2021 at 9:50 am,
        David says:

        Debate: “a formal discussion on a particular topic in a public meeting or legislative assembly, in which opposing arguments are put forward”.

        Argument: “A discussion in which disagreement is expressed; a debate”.

        Just saying….

        • On June 7, 2021 at 10:29 pm,
          Excelsior says:

          From that standpoint, I see how you meant the comment David and agree.

  24. On June 6, 2021 at 8:21 am,
    BDC says:

    TAN: https://postimg.cc/yWxP0sq3
    Ex: It’s possible that the 19 May upthrust will be tested (and reflected in others).

    • On June 6, 2021 at 9:45 am,
      Excelsior says:

      Thanks for the heads up BDC. Yes, and then there is that gap above that big uptrust that will likely get tested. I’m not fully positioned in TAN or the other clean energy stocks yet, and so I’ll be looking to add more tranches to the clean energy sectors on any pullback, but it does seem like most of the corrective move has already played through in that sector. Cheers!

  25. On June 6, 2021 at 11:30 am,
    BDC says:

    Steven Van Metre: https://www.youtube.com/watch?v=gtf2y29u6Us
    “…the Fed’s policy shift could have a negative impact on markets…”

  26. On June 6, 2021 at 12:11 pm,
    Matthew says:

    Based on price, RSI and MACD, I turned bullish TLT on May 25th which was handy considering its relationship to gold.
    https://stockcharts.com/h-sc/ui?s=TLT&p=D&yr=0&mn=9&dy=0&id=p46177672985&a=959892340

  27. On June 6, 2021 at 12:56 pm,
    Matthew says:

    For comedy and a certain person who thinks Birdman schooled anyone ever, here’s a chart from 7 years ago that perfectly shows what a joke he was.
    https://stockcharts.com/h-sc/ui?s=GDXJ&p=D&st=2013-08-10&en=2014-08-11&id=p74077532904&a=362646069

    • On June 6, 2021 at 2:23 pm,
      Excelsior says:

      That is true comedy indeed as Birdman didn’t school anyone here on anything, other than in the art of keeping pet turtles and twisting peoples comments into completely misleading directions. Why others need to keep referencing that nut job is puzzling.

      • On June 6, 2021 at 3:48 pm,
        OOTB Jerry says:

        Tweety sure gave a few people fits… 🙂

        • On June 6, 2021 at 4:03 pm,
          Excelsior says:

          Birdman gave himself fits with his repeated chest-beating and arm-waving about “his” megaphone pattern, which ended up being completely wrongo in the congo. He warned everyone for over a year after gold had clearly bottomed that it was going to $960 for sure, and chastised everyone that disagreed with him that they were clueless gold bugs, and anyone that listened to his drivel was worse off for it.

          There were a number of people that decided to quit posting here when he was instrumental in running off Gary Savage with all his heckling, when he went repeatedly went after Catholic priests, Muslims, Jews, in a grotesque way, then he had the bright idea to publicly state he wanted to sue Big Al, and then continuously insulted or attacked most of the blog contributors. Good riddance to all that nonsense.

          • On June 6, 2021 at 4:09 pm,
            OOTB Jerry says:

            I think his number was $690 …… completely out in high weeds territory… lol 🙂

          • On June 6, 2021 at 4:10 pm,
            OOTB Jerry says:

            Oh, I almost forgot him wanting to sue BIG OWL…. lol….

          • On June 6, 2021 at 4:16 pm,
            Excelsior says:

            Haha! Yeah, you’re probably right about that OOTB and maybe I got the numbers transposed. It probably was bordering on Harry Dent style absurdity. 😉

            Agreed, the wanting sue the Big Owl was nuts.

            Why he continues to get brought up is as sad as it is confusing, when there are so many other people of substance where folks can discuss why they agree or disagree with their thesis. Time to move on from crazy train into something that may actually help investors make better informed decisions.

          • On June 6, 2021 at 4:20 pm,
            OOTB Jerry says:

            Ditto…… on time to move…… and make some $$$$$$$$$$$$$$$$$$$$$.
            🙂
            There is no way anyone is going to change the world with the nut job politicians and govt.

          • On June 6, 2021 at 5:53 pm,
            Excelsior says:

            Yes, let’s focus more on the payday, even though things are totally nuts…

            Payday candy commercial 1993 – Totally Nuts

            https://youtu.be/c1y9OHh-N8s

          • On June 7, 2021 at 9:09 am,
            OOTB Jerry says:

            I saw Bird at the end….. flying away with the payday… lol ….. 🙂

          • On June 7, 2021 at 10:59 am,
            Excelsior says:

            Haha! Good one OOTB!

    • On June 6, 2021 at 3:01 pm,
      Hellcat says:

      “why others”? Other!!

      • On June 6, 2021 at 10:04 pm,
        Matthew says:

        Exactly. It’s the guy who suffers from the same delusions of grandeur and also has no respect for facts. Birds of a feather…

        • On June 6, 2021 at 10:42 pm,
          Excelsior says:

          I’m assuming you are referring to Gabriel’s comments the other day that invoked the bird…

          > On June 4, 2021 at 6:03 pm,
          Gabriel Lucarelli says:

          “The record is clear bird took you to school many times and I’ve learned through history including many calls you told me that had I bought I would have been f’ed thank god I don’t look at your gold bug chart.”

          • On June 6, 2021 at 10:51 pm,
            Excelsior says:

            I do recall the bird being invoked by a few others. This was also last week:

            On May 31, 2021 at 4:15 pm,
            Glenfidish says:

            “* Cory you will never ever ever get more viewers without glen he is the bird but without bias be careful crowd a massive massive correction coming!”
            Glen

          • On June 6, 2021 at 10:57 pm,
            Excelsior says:

            There was also this proclamation just a few months back:

            > On March 7, 2021 at 10:41 pm,
            Holy Grail says:

            “Behold !!!”

            “Birdman will make his debut. All the toxic poisonous venom hatred must be disposed of. Time to stop bickering and bury the hatchet.”

            “Salute, Birdman returneth.”

          • On June 6, 2021 at 11:04 pm,
            Excelsior says:

            … and then there’s this on birdman:

            https://en.wikipedia.org/wiki/Birdman_(rapper)

          • On June 6, 2021 at 11:06 pm,
            Excelsior says:
          • On June 6, 2021 at 11:23 pm,
            Matthew says:

            Ex, Glenfidish is Gabriel.

          • On June 7, 2021 at 3:23 pm,
            Excelsior says:

            Oh. I see that now.

        • On June 7, 2021 at 8:41 am,
          David says:

          Glad I missed the Birdman thing…I would have got my thumbs broken for typing unpleasant words.

        • On June 7, 2021 at 11:30 am,
          confused says:

          MATT + EX,
          what are you % chances that we have one last point of a “reversal pattern” head to $1550 before we rally to $2500+? I wonder if this is what Doc is thinking/hoping might happen? It is a possibility. It would destroy all sentiment while clearing the way for a crazy impulse move.

          • On June 7, 2021 at 3:21 pm,
            Excelsior says:

            I don’t see a reversal in Gold back down to $1550 as very likely in a developing bull market in the precious metals, except for in an extreme event of an all-out market crash as Glen mentioned (more akin to what we saw in the March 2020 pandemic crash). Barring that I’m not expecting a deep correction like that again in Gold and don’t see a big correction going down below the high $1700’s, and more likely would base in the lower $1800s instead.

            The 7 1/2 month correction from mid August through the double-bottom in March near $1673-$1675 did plenty to clear out sentiment in the sector. If we do in fact see Gold and the miners give back some the gains they made in April and May with another downward slide in June, then it will only further erode sentiment, and further cool down the chart indicators.

            I raised some cash in the 2 prior weeks to deploy into any weakness we see develop into the summer doldrums in the seasonally weak June/July area, but so far everything has held up fairly well, and there hasn’t been any big sell-down days yet.

          • On June 7, 2021 at 3:45 pm,
            Matthew says:

            Confused, there’s very little chance of that happening. I’ll give the bears a little hope and give it a generous 3% possibility.

  28. On June 6, 2021 at 5:59 pm,
    bonzo says:

    Happy D-Day! 77 years ago my uncle, who was in the 1st Army in command of a national guard unit from Ohio with its 155mm Long Tom, landed with the British 50th, the Desert Rats, on Gold Beach. Gary Savage thinks the correction in gold may have ended last Fri morning, and that silver will go to 40 or 50 in 2 months! Let it be. Let it be…

    • On June 7, 2021 at 9:02 am,
      OOTB Jerry says:

      Silver on the street is already at $40….. including the bump over spot…

  29. On June 6, 2021 at 6:02 pm,
    Wolfster says:

    Hey Glen. Keep the updates coming……for pots I might not be the expert. I wisely sold all my MSO’s before the big pullback but held on to my IMCC so I’m not perfect…..I will say it’s getting close to that time for getting back in to the big MSO’s but I’d only invest in profitable or near term profitable pot plays. I’m still a big fan of IMCC too…not a fan of any Canadian plays.

    Ex. On the clean energy front plays I still like greenlane and xebec looks good after that big sell off.

    On the chargeable front, I’ve done well selling covered calls of charge point. It’s got great premiums. Great way to get the average cost down.

    Battery plays I’m still big on nano one. It’s time is coming

    • On June 6, 2021 at 6:46 pm,
      Excelsior says:

      Thanks Wolfster for the heads up on Greenlane and Xebec. I’ll take a looks see.

      Yes, I’ve been watching Charge Point and Blink, but don’t trade options personally. Definitely ones I’m looking to buy if there is a general market sell-off across sectors.

      On the battery front I’ve gone recently into Electrovaya, Eguana, HPQ Silicon, and Pyrogenesis, and am considering Braille Energy Systems. I’ll keep an eye on Nano One as well and do have it on my battery watchlist. I’m waiting to see some of these power up like Neo Battery Materials has.

      Good thoughts as per usual.

  30. On June 6, 2021 at 6:37 pm,
    Wolfster says:

    Btw Ex. Did ceo.ca do an upgrade on their system recently that you’d be aware of….I can no longer get anywhere on the site with my old iPad can only navigate the site on my cell which is super frustrating to use for reading

    • On June 6, 2021 at 6:48 pm,
      Excelsior says:

      Hmm. Don’t know about if ceo.ca. I use two different computers and a phone and don’t seem to have any issue, but don’t know if they’ve not updated an older operating system possibly. You can reach out to @murat and he may be able to help you with technical issues.

  31. On June 6, 2021 at 7:09 pm,
    David says:

    8:00 PM CST smash on paper counterfeit contract price if physical gold. Why bother.

  32. On June 6, 2021 at 11:11 pm,
    buzz says:

    USA Watchdog.com has a compelling post & video on impending market crash of biblical proportions. As a long time God fearing Christian, I plan to get heavy leverage to downside until post July 4th

    • On June 7, 2021 at 6:58 am,
      chris says:

      Bo is an interesting guy. I don’t believe all of his stuff, but it’s obvious he does! As well as Greg Hunter…….it will be interesting to follow along with him and see what happens.