Weekend Show – Sat 19 Jun, 2021

Recapping the Fed statement, commodity selloff, and where the best investment opportunities are right now

Full Weekend Show

This was a wild week in the markets dominated by the selloff in commodities, especially gold, on the back of the Fed statement and increased market volatility. I feature 2 well known guests this week in extended segments so we can dive into what happened and where the opportunities are.

Please keep in touch by emailing me at Fleck@kereport.com. I love hear all your thoughts on the companies I feature during the week and what you are liking out there. Also a very Happy Father’s Day to all the Dads tuning in!

  • Segment 1 and 2 – Adrian Day, President of Adrian Day Asset Management and Manager of The Euro Pacific Gold Fund joins me to break down gold’s correction of over $100 this week and the gold stocks reaction. Adrian also shares some of his preferred investments in the gold sector.
  • Segment 3 and 4 – Rick Bensignor, President of Bensignor Investment Strategies wraps up the show with an extended segment ranging from US Markets, the US Dollar, Bonds, and Commodities.

There are a lot of webinars coming up so stay tuned. The next webinar is Wednesday at 12-noon PT. I will be hosting TriStar Gold. Nick Appleyard, President and CEO of TriStar will joins me to recap the Castelo de Sonhos Project in Brazil and the work that is planned to de-risk (through a Pre-Feasabilty Study) and grow the current 2.2million oz gold deposit (indicated and inferred).

Click here to sign up for free.

Exclusive Company Interviews This Week


Adrian day
Rick Bensignor

Comments:
  1. On June 19, 2021 at 5:47 am,
    Paul says:

    Gold disappoints again. Most technicians thought 1850 would hold, then 1800 due to it’s strength. Forget technicals the big bullion banks manipulate metals and needed to drive gold down to get out of thier shorts. It happens all time. If they are made to follow rules then the big manipulation would stop and they would be procecuted.
    As we seen over years some people are just above the law.

  2. On June 19, 2021 at 6:27 am,
    cfs says:

    I totally agree with you, Paul.
    The interesting thing, though, is that in order to drive the price down now, hey have to go into the futures market and sell in the future. This obviously transfers the problem into the future, BUT WHETHER IT ACTUALLY WILL ALLOW THEM TO ESCAPE THEIR PROBLEM is a different question.
    They are hoping that they will be able to buy physical in the future to cover their NAKED shorts, at a lower price than they received from shorting.
    They can extend and hope to do this month after month, but there is a cost.
    However, as long as buyers of physical CONTINUALLY and consistently drive prices up, the naked shorters in a hole will never escape.
    Indeed, if we hit a period of high inflation and prices go up dramatically, the shorters may end up digging a deeper hole from which they cannot escape.

  3. On June 19, 2021 at 6:45 am,
    cfs says:

    The Fed and Powell are simply trying to hide the fact that they are MONETIZING the debt.

    The facts are simple. WE HAVE SPENT TOO MUCH, and borrowed against the future.

    The Fed can move rates up or down at will, BUT NOTHING WILL DISGUISE the fact that the interest cost of carrying the debt DIGS A DEEPER HOLE.

    AS LONG AS THE GOVERNMENT SPENDS MORE THAN IT RECEIVES IN TAXATION, THE HOLE GETS DEEPER.
    The Fed is FORCED to generate as high price and monetary inflation as the public will tolerate, in order for the debt to APPEAR TO BE LESS SIGNIFICANT.
    THE FED, because of the huge debt and carrying cost thereof, WILL however, NEVER RAISE RATES.

    IT CANNOT AFFORD TO WITHOUT MAKING THE CARRY COST OF THE DEBT IMPOSSIBLE TO BEAR.

  4. On June 19, 2021 at 7:32 am,
    poko says:

    cfs +1
    Could not have summed it up better!!

  5. On June 19, 2021 at 8:07 am,
    pyrite says:

    I feel like gold, gold mining stocks and silver will never go up despite all the positive fundamentals. GDX is trading close to the 2016 highs in 2021. Five years and adjusted for inflation, GDX has done nothing unless one bought during late 2015 or the march crash in 2020. I keep wondering why I keep investing in this space when I can buy the S&P 500 and watch it go up on a daily basis with less drama. Tired and exhausted of this price action.

    • On June 19, 2021 at 9:19 am,
      chris says:

      Many of us share your feelings……….

      • On June 20, 2021 at 7:57 am,
        Dragonite says:

        I do both, i.e. precious metals and stock market. I even diversify to real estate, oil, uranium, copper, China stocks, etc. I will See which one sticks. Eventually I feel all will win and precious metal will be the best performer since they will move up with the near bottom price and does not have the chance to crash big and never recover. I don’t invest in gold stocks though unless I feel I can do a trade by buying low and sell high. They are the true losers under the manipulation scheme since they will keep struggling for survival and may average in one price for decades. XAU is still in the same price since it was published. It is too long.

        • On June 20, 2021 at 8:07 am,
          Dragonite says:

          I bought a lot of CEF and PHYS in Feb, March & April and started to buy again when gold broke 1800. I don’t see there is much room to drop. But I cannot say the same for Dow, S&p and Nasdaq though. BTW I took a heavy position in TSX early this year since I feel new QE of Bank of Canada will make Canadian stocks move up a lot. QE is always potent at the early stage.

  6. On June 19, 2021 at 9:18 am,
    Glenfidish says:

    Pyrite,

    Your not alone in your thinking. unless you time long term bottoms or tops with precision then you can be in a world of hurt.

    I think me and doc were pretty lonely a while back when we spoke about the miners and lower prices. I was insulted with half a brain, as well as im not worth anyone,s time and recently as yesterday chartist or tecnicians quoted after my post have no idea whats coming because others sources are valid lol.

    I would like to think that there is no crystal ball but do i think we have another drop into $1520 territory? nothing amazes me anymore.

    With that said i like what matthew is seeing and i still believe that we can have a reversal very soon.Will it be a cat bounce? well we will see..Like mentioned yesterday im taking it day by day and monday could see an undercut low and tuesday a sharp reversal would be the best case scenario for me. If that is not the case that gdx giant red monthly candle is pointed lower and it could get nasty.

    Im still waging on on these fraudulent computers to get everyone on the wrong side again and turn up. Everyone is now ultrabearish which is exactly what i wanted weeks ago when all were bullish

    glen

  7. On June 19, 2021 at 9:30 am,
    Glenfidish says:

    would also like to point out, matthew and myself metioned regarding these long red daily candles..I have gone back all the way to 2001 and the closest thing of this drop in such long red candles and magnitude has been 4-5 candles consecutively. We are at 6 and every reversal of such drop has been countered with a strong green reversal of its own. So at the very least a good bounce but again my mouth is on a bigger turn. hopefully this time my mouth can win me points lol..and hopefully matthew see’s something he likes as well as mostly all are bearish.

    • On June 19, 2021 at 9:38 am,
      OOTB Jerry says:

      check and see if, the smashes occur around a holiday…. funny how the Biden admin, stepped up the holiday on a Friday……convenient…. lol

      • On June 19, 2021 at 9:40 am,
        OOTB Jerry says:

        more holidays……..more smashes…….. me think…. lol ……. 🙂

      • On June 19, 2021 at 10:18 am,
        Glenfidish says:

        jerry

        very valid points maybe i should look at us calendar vs canadian lol..

        • On June 19, 2021 at 1:05 pm,
          OOTB Jerry says:

          thanks…. GLen……. have a great week end ….

  8. On June 19, 2021 at 11:02 am,
    BDC says:

    Gold’s Chapman Wave F down finally occurred by a slight margin. Monday Bounce?

    • On June 19, 2021 at 11:35 am,
      BDC says:
    • On June 21, 2021 at 3:48 am,
      BDC says:

      Friday low: 1760.96

  9. On June 19, 2021 at 11:54 am,
    David says:

    I suggest reading many of the reports on http://www.wallstreetonparade.com
    My impression of recent articles are that at minimum, the European Union appears adverse to several Major US Banks as well as several European banks for corruptive behaviors. They are barring them from further participation in European funding activities. There also appears to be a movement within the US Justice Dept to re-establish control of legal authority in reference to banking and a recognition of the organized crime activities sponsored by the Banks for a long time. If all this is true, as well as Powell’s comments about cutting back the Repo market, and Hugo Salinas Price’s and Jerry’s comments about Basel III, we may see the recent attacks on the PMs an attempt to reduce short positions while banks are on the cusp of derivative overload and other criminal behavior coming to a crisis point. Just a feeling I have in recognition of a step up in counter intuitive behavior by the Banks and Fed.

  10. On June 19, 2021 at 12:57 pm,
    Matthew says:

    The good thing about this hit on gold is that it happened under the cover of the Fed’s (empty) words. That’s the excuse to make the operation legitimate in the minds of the masse who can’t spell gold. The reason it is “good’ is that powerful reactions in any sector to FOMC meetings tend to be reversed within a few days. It doesn’t matter if the reaction is up or down. So, the odds would have been against us had gold took off to the upside immediately after the FOMC meeting.

    An important low is going to happen very soon. The question is how much downside remains and we should get the answer to that in the next couple of days. If it becomes “crash-like”, it will most likely be due to the stock market having a very bad day (and I think the stock market is now beginning an intermediate decline which will ultimately help the gold space).

    • On June 19, 2021 at 1:29 pm,
      Glenfidish says:

      Matthew those are some very valid points! Secondly you are absolutely 100% correct that the fed blew smoke from there ass. Two years? Lol ya ok.. we all know that they will not and can not increase rates or the game is finished.

      Thirdly your charts all scream divergence and it took sometime to understand throughout the years how divergence it self works and the powerful correlation that it has with timing. To early and you lose out in better prices but to “late” and you run the possibility of being left behind.

      I’ve tried two look at two scenarios here Matt. 1. Would it make more sense here to put a long time bottom considering how long we have corrected from last years august top? And would it not make sense to push higher into fall and then get the correction needed to propel ton new highs or make new lows into October bottom? That would mean we wouldn’t have much ground left if this commodities super cycle everyone has spoken about even Armstrong and all technicians and us Matthew which would run between 2021-2024 would make way more sense that we bottom now and catch everyone off guard.

      I’ve gone back to take a look and big bottoms to tend to happen in June but mostly fall but they have happened. And you have mentioned that this one could catch everyone off guard thinking the bottom is in fall.

      Now you take a look at how long we have been correcting all the while that Dow Jones has been on crack and looks like it’s ready to take a dive I think this is we’re we separate ourselves. Of course I’m 2008 crash we went down with it j it I ally but I think we have gone down quite a bit that we are ahead of the game and will lead us higher all the while equities will need 2-3 months correction unless it’s a super fast one and it follows us up?

      • On June 19, 2021 at 2:06 pm,
        Matthew says:

        The low that’s forming now/soon will be lower than all of those that follow it for the rest of the year and beyond. Timewise, we’re essentially there but pricewise I don’t know. Do we fall 2% or 10% from here? I’ll guess no more than about 3% for GDX and hopefully it happens with a gap on Monday. Either way, I bet we will be moving up within a week or two.

        Sentiment has been obliterated and that is nothing but a good thing.

        GDX has not been so oversold since the covid crash about 15 months ago. Ignoring that anomaly, it hasn’t been so oversold in nearly 3 years (and the usual bears were wrongly looking for lower prices even after the low was in).

        GDX has a good shot at producing a large and very bullish head and shoulders bottom. Considering the stellar fundamentals, that would make perfect sense.
        https://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=1&mn=0&dy=0&id=p74424651697&a=975972276

        • On June 19, 2021 at 5:27 pm,
          Glenfidish says:

          Thanks Matthew sounds good to me 😁💪

        • On June 20, 2021 at 11:45 am,
          Pyrite says:

          Gdx is down nearly 14% in a month. If this is the last correction before GDX runs to 50+, I wouldn’t mind the pain. Let’s see what this week brings..

  11. On June 19, 2021 at 1:12 pm,
    Matthew says:
  12. On June 19, 2021 at 1:51 pm,
    Charles says:

    Good show. Two of my favorite guests. I bought some gold stocks Friday. Have a bit of dry powder left for a few more buys.

    • On June 19, 2021 at 5:32 pm,
      Glenfidish says:

      Good job Charles buying is always best on these drops!

  13. On June 19, 2021 at 1:59 pm,
    bonzo says:

    I bought some more NSRPF on Fri. So many bargains out there it’s hard to pick. I was so sorry to hear Eric Sprott say he had 2 of the Bill Gates kill shots and now wishes he had heard Dr. Bridel of Guelph U. before he made his mistake. I would not take those jabs for all the gold in Newfoundland, Nevada, Australia, and the Yukon combined.

    • On June 19, 2021 at 2:18 pm,
      Charles says:

      +1

    • On June 19, 2021 at 4:07 pm,
      OOTB Jerry says:

      That is rich ,,,, Bonzo…… if, Sprott had been reading the Ker Political section he would have know, …Which does not say much for the TURD,…..THE TURD , should have been passing along the information….. THE TURD IS WORTHLESS going forward…….
      I recommended him to BIG OWL at the VERY BEGINNING….. AND NOW,,, think he is WORTHLESS…. MUMBO JUMBO……
      THE RANT…..

      • On June 19, 2021 at 4:08 pm,
        OOTB Jerry says:

        know to known……

      • On June 20, 2021 at 3:50 am,
        visitor says:

        https://www.ukcolumn.org/community/forums/topic/china-belief-re-pregnancy-after-vax/

        “Global marketer a2 Milk’s recovery ran out of puff after falling 18c or 2.93 per cent to $5.97, impacted by a competitor’s comments in China. Feihe, China’s largest infant formula maker, said sales would drop sharply in the next one to two years since many women cannot bear children within six months of coronavirus vaccination – and thus delaying births.”

        My take: Unvaxxed males – get in shape and gird your loins – your sperm is going to be in high demand.

    • On June 19, 2021 at 6:45 pm,
      Terry Huebert says:

      Bonzo, NSRPF is Adrian Day’s hamburger. You need to eat more filet.

    • On June 19, 2021 at 8:41 pm,
      Glenfidish says:

      Thanks for sharing bonzo!

      You would think such a man with wealth and power and that understands the gold fundamentals would opt for that. I wonder if that is 100% fact that he has been vaccinated

      • On June 20, 2021 at 4:07 pm,
        bonzo says:

        Yes, on the Sprott money show on Fri, Eric Sprott says he took both doses of the Gates kill shot and now regrets it after hearing what Dr, Bridel of Guelph U. in Ontario said about how toxic the spike proteins are and how they do not stay in the shoulder but travel all over the body doing damage everywhere. They should never have skipped the animal tests before using us as guinea pigs.

  14. On June 19, 2021 at 2:06 pm,
    visitor says:

    I can handle another $100 gold drop, even $200 easy peasy. Just let’s not hear any talk about $1300 or whatever it was that Erik Townsend was spouting a while back.

    I’ve ignored him enough times that his name doesn’t show up on reco’d lists anymore.

  15. On June 19, 2021 at 2:22 pm,
    cfs says:
  16. On June 19, 2021 at 2:25 pm,
    cfs says:
  17. On June 19, 2021 at 2:27 pm,
    cfs says:
  18. On June 19, 2021 at 2:32 pm,
    visitor says:

    I noticed quite significant volume increase in many stocks the last couple days, with gaps above, and was thinking it meant capitulation/exhaustion.

    But when I add On Balance Volume it seems to be confirming price action. In this CandleGlance Group, all but two graphs show OBV falling below the moving average.

    Looks to me like more downside to come, but I don’t really know.

    https://stockcharts.com/freecharts/candleglance.html?GOLD,NEM,KL,AEM,KNT.TO,OLA.TO,BTG,AGI,EDV.TO,WPM,FNV,rzz.v|B|G|0

    • On June 19, 2021 at 2:35 pm,
      visitor says:

      Charts didn’t load properly.
      OBV can be added using the “Indicator” drop-down menu.

      • On June 19, 2021 at 8:49 pm,
        Glenfidish says:

        Visitor

        Thanks for coming into the ker and posting! I’m not sure if I have seen you around before but non the less great topic of discussion. In fact I would like to know everyone’s opinion on volume and there thoughts regarding miners in the las decade.

        For example the other day I mentioned that as investors we have been taught to learn when the sell volume is higher then the buy it means someone is dumping and not a good sign for the share price. Personally the last few years and more specifically these last few months I have noticed how the sell volume is low and the buy extremely high yet the shares keep dropping. My conclusion has been the market makers and bankers are orchestrating a takedown stealth wise. But they have been doing this for a long time but recently it’s very obvious. Put your stink bid in and by the afternoon it fills. They play poker in actuality what I think is happening is powerful smart money accumulating knowing the turn is coming and there ain’t much time left.

        So whoever wants to come in and talk volume I’m all ears. I don’t believe the numbers anymore however I try my best to watch it with the candles. This take down looks like exactly what it is desperate thief’s trying to get in fast before a turn.

        Don’t sell!

        • On June 20, 2021 at 4:10 am,
          visitor says:

          Yup Glen, I agree – don’t sell.

          Using BTG as an example, a combo of Force index, OBV and RSI indicates this is set up for a heck of a bounce on the daily.

          https://schrts.co/PgsMsiIH

        • On June 20, 2021 at 4:12 am,
          visitor says:

          BTG – on the weekly, the same indicators show there’s more room to fall.

          https://schrts.co/eJHUSfDX

  19. On June 19, 2021 at 3:57 pm,
    BDC says:

    Labrador Gold beats the Reaper : https://tinyurl.com/86rkcfru

  20. On June 19, 2021 at 4:12 pm,
    Terry Huebert says:

    Agree with Adrian Day and the hamburger/filet comparison. I’ll repeat, in November 2008, CDE was priced at $3-4 and just before Christmas 2008 it was over $9. A similar thing can happen now with beaten down producers.

    • On June 19, 2021 at 8:52 pm,
      Glenfidish says:

      +1 Terry

      I bet my friend Matthew would say the same.. when they do turn its momentum will catch fire quickly.

  21. On June 20, 2021 at 4:27 am,
    BDC says:

    Metallic Minerals pull back : https://tinyurl.com/j64mx6

  22. On June 20, 2021 at 10:15 am,
    larry says:

    good…sentiment is shifting on the blog…glta

  23. On June 20, 2021 at 2:28 pm,
    BDC says:

    B2Gold pull back : https://tinyurl.com/sdm5mnpx

  24. On June 20, 2021 at 7:04 pm,
    Ozibatla says:

    Always interested to read your insights Glenfidish and Matthew. Regarding gold, do either of you see a new high set in the price this year?

    • On June 20, 2021 at 7:20 pm,
      Matthew says:

      Yes or at least close to it, but this week has the potential to significantly impact my confidence about that.

      • On June 20, 2021 at 11:59 pm,
        Ozibatla says:

        More short term weakness in gold then?

        • On June 21, 2021 at 1:19 am,
          Matthew says:

          I don’t know. It wouldn’t surprise me if the sector takes off tomorrow but it also wouldn’t surprise me if it becomes more complicated and needs another week or two to get moving higher. Either way, it looks like we are at/near a very important low.

          • On June 21, 2021 at 6:19 am,
            Ozibatla says:

            I hope your right. Personally I think abit more weakness for the PMs is ahead. Also the quick smash down has eroded some of the confidence and will therefore take abit of time to restore.

    • On June 20, 2021 at 7:22 pm,
      Matthew says:

      Money managers will now increasingly choose TLT over SPY and that will aid gold.
      https://stockcharts.com/h-sc/ui?s=TLT%3ASPY&p=W&yr=3&mn=6&dy=0&id=p66608346868&a=976582407

  25. On June 20, 2021 at 7:06 pm,
    Matthew says:
  26. On June 20, 2021 at 7:25 pm,
    Matthew says:

    TLT has broken out versus gold (GLD) but is short term very overbought:
    https://stockcharts.com/h-sc/ui?s=TLT%3AGLD&p=D&yr=1&mn=6&dy=0&id=p66350633523&a=976579032

  27. On June 20, 2021 at 8:35 pm,
    bonzo says:

    Keith Neumeyer just said gold is easily going to 3000.

    • On June 20, 2021 at 10:52 pm,
      buzz says:

      My take on coordinated takedown of metals: gets a wink and a nod, in line with takedown of the economy. Such that, slow growth masks detrimental effects of inflation

    • On June 21, 2021 at 8:58 am,
      cfs says:
  28. On June 21, 2021 at 4:40 am,
    BDC says:

    GDX options available Friday afternoon : https://postimg.cc/4K6Hfnqz

  29. On June 21, 2021 at 6:51 am,
    visitor says:

    Ooof
    Jack Chan’s 40-year USD+gold double bottoms/tops chart knocked any lingering enthusiasm out of me.
    http://www.321gold.com/editorials/chan/chan062121.html

  30. On June 21, 2021 at 7:59 am,
    BDC says:

    Michael Boutros (Gold @ 35:50) : https://www.youtube.com/watch?v=841lsUJA6Fw