Ed Moya - Senior Market Analyst at OANDA – Wed 8 Sep, 2021

Comments on recent job data, US market weakness, and Bitcoin volatility

Ed Moya, Senior Market Analyst at OANDA joins us for an initial focus on the jobs data from Friday and job openings data this morning. This is all related back to the markets and of course the Fed and its policy. We wrap up the interview chatting about Bitcoin and recent volatility.

Click here to keep up to date with Ed’s daily market note.

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  1. On September 8, 2021 at 3:00 pm,
    Matthew says:

    The gold miners are working on a major low versus the semiconductors…

  2. On September 8, 2021 at 3:11 pm,
    BDC says:

    Dollar to turn or continue? : https://tinyurl.com/4z9pk7je

  3. On September 8, 2021 at 3:47 pm,
    poko says:

    Hey Matt,what are your thoughts on Galleon’s resource estimate??
    Looks like the market didn’t think much of it!

    • On September 9, 2021 at 10:59 am,
      Matthew says:

      Poko, I’m sure the cause of the selling was part disappointment, part sector sentiment and part selling the news as so many do no matter what. Possibly the biggest reason for the lackluster response is the fact that the company will need to do another financing soon to raise cash. Why buy the news when you might be able to get a better by waiting for a new share offering. Even if the offering is priced above today’s price, it will likely offer a warrant or at least half a warrant per share so waiting for it makes sense.

      The pending PEA will give us a better idea about the value of the company but I am confident that the current market cap $33 million is not a bad deal at all. Those ounces will provide a lot of leverage to increases in the price of gold precisely because they can’t be mined profitably at a much lower gold price.

  4. On September 9, 2021 at 3:16 am,
    Terry Huebert says:

    Penguin, you talk too much setting up your question. By the time you’re finished, you already answered your own question. All the guest needs to do is repeat what you said.

    • On September 9, 2021 at 3:45 am,
      Excelsior says:

      Thanks, you know much I appreciate your constant insults each day.

      Again, if you dislike the content here so much, then rather than whine week after week about how you don’t like the topics, don’t like the companies we bring on, don’t like the guests, and now don’t like the questions…. Why not just not listen or go heckle some other site that you like more. Pretty simple concept.

      Why don’t you just start your own podcast and show us all how it’s done Terry?

      • On September 9, 2021 at 4:17 am,
        jonsyl says:

        Terry, those comments are not called for. Name-calling, is a significant sign of a grade-schooler who is not sufficiently mentally equipped and therefore can’t use reason to make their point.
        Now, you may feel to respond with something like the sheeple have spoken, but that would only confirm what I’ve stated.

        • On September 9, 2021 at 4:29 am,
          BDC says:

          Yes, Terry’s comments are certainly childlike.

        • On September 9, 2021 at 5:06 am,
          Terry Huebert says:

          jonsyl/BDC, He writes too much and he talks too much and it’s time he eases up a little.

          • On September 9, 2021 at 5:18 am,
            BDC says:

            Terry: Did Edward Gibbon write too much? Some people find value in details, others in expressing them. It would be best if you concentrate on the resource sector, which you appear to have knowledge of, rather than Shad, which you don’t.

          • On September 9, 2021 at 5:27 am,
            Terry Huebert says:

            RED:AX is waking up if you want Aussie exposure.

  5. On September 9, 2021 at 3:44 am,
    Glenfidish says:

    I think many are going to miss the big move! Gary has completely gone 360 with his latest call.. Folks I see miners starting to outperform gold. Many will be focused on what gold does and that’s classic mistake as some in here or very few have mentioned over the years that there comes a time the miners start to take the lead and I believe it’s starting this moment.

    Taking a look at a few miners as examples, Ann if you can recall I mentioned last month that I was starting to see a possible explosive move in Scorpio and bottoming pattern. It looks very good and the setup could take us to a very nice target quickly and swiftly.

    Impact silver sure looks like a bottom is in and if so I have an upside target 80’s and it could get there faster then many think.

    Brixton..what can I say, looking at the chart we could have one last quick dip and if it does happen consider it a blessing and buy with everything you have! With that said a bottom could already be in and the chart is telling me an explosive move is coming very very quickly and I’m not talking months or weeks..

    We have a long term bottom forming/formed which will propel us for 8-12 weeks higher before a rest and correction. The Intermediate cycle has plenty of legs left..


    • On September 9, 2021 at 4:15 am,
      BDC says:

      The GDX double bottom this year must hold.

      • On September 9, 2021 at 11:05 am,
        Matthew says:

        Reason for concern would happen well above the 30.64 and 30.68 lows. For example, I don’t want 31.29 breached.

    • On September 9, 2021 at 5:10 am,
      Terry Huebert says:

      I’m a believer IPT.

    • On September 9, 2021 at 7:15 am,
      Canuckski says:

      I appreciate your insight Glennie. I would have thought you may have added AXU in that listing. The other day, you hinted that you were amassing a position in another particular gem but haven’t gone on to say what it is. 🙂
      I haven’t been a buyer in some time, but am thinking of doing some purchases into the end of this week. Right or wrong, I will probably look to favour junior and mid-size producers.

      • On September 9, 2021 at 7:33 am,
        Glenfidish says:

        Canuck thank you my friend for your thoughts as well! Since you asked I will gladly share. I can’t remember quite when it was but I mentioned awhile back I needed more exposure to silver and about 6-12 months ago ex made a nice list of explorers/developers/small cap etc. One that really Intrigue me for it’s potential is Klondike silver. Backed up by sprott and others, I expect this one to outperform when the sector really gets going.. My cost average is 5 cents and continue to add when it goes lower. Originally purchased it at 8 cents then at 4 cents 5 cents..

        Brixton looks like that dip is here we spoke of.
        Best of luck Canuck

  6. On September 9, 2021 at 6:15 am,
    Excelsior says:

    Precious Metals Royalty And Streaming Companies: The August Report

    Sep. 05, 2021 – Peter Arendas


    • On September 9, 2021 at 10:57 am,
      David says:

      Printed this out. Hadn’t seen this before. Looks like August a bad month except for Altus Strategies and Nomad with a few breaking even. But, when the they take the cork out of the bottle, a report like this looks to be real handy.

      • On September 9, 2021 at 12:25 pm,
        Excelsior says:

        Yeah, I’ve been following Peter’s monthly royalty reports over at Seeking Alpha for some time now, because he recaps the relevant news in the sector and for each company down below in each report, which I find helpful for staying abreast of some of the companies I don’t follow quite as closely, or even with the ones I do or own.

        Since we have a number of people holding one or a few royalty companies, it seemed worth posting a link to his August report, because he covers most of them in his index of 20 royalty companies.

  7. On September 9, 2021 at 7:14 am,
    jonsyl says:

    Here we go again. Down to mid morning, and then as usual a rally attempt which flounders for rest of the day, as hope springs eternal. LOL

  8. On September 9, 2021 at 7:29 am,
    Excelsior says:

    (FFOX) (FFOXF) FireFox Gold Grows High-Grade Zone at the Mustajärvi Project in Finland with 16.45m of 7.69g/t Gold in Latest Drilling

    September 9, 2021


  9. On September 9, 2021 at 7:31 am,
    Excelsior says:

    (GBR) (GTBAF) Great Bear Resources Provides Complete Assays from Central LP Fault “Auro2” High-Grade Gold Domain and Update on Geological Modelling

    Sept. 9, 2021


  10. On September 9, 2021 at 7:33 am,
    Excelsior says:

    (EXK) (EDR) Endeavour Silver Completes Feasibility Study on the Terronera Project in Jalisco State, Mexico. Robust Economics Supported by Larger Mineral Reserves, Higher Annual Silver Production and Longer Mine Life

    Sept. 9, 2021


  11. On September 9, 2021 at 7:34 am,
    Excelsior says:

    (CDE) Coeur Mining Provides Exploration Update

    Sept. 9, 2021


  12. On September 9, 2021 at 7:36 am,
    Excelsior says:

    (SIL) (SILV) SilverCrest Metals Announces Results from 2021 Infill and Expansion Drilling in the Babicanora Area

    Sept. 9, 2021


  13. On September 9, 2021 at 7:39 am,
    Excelsior says:

    (LWD) (LWDEF) Lakewood Exploration Reports High Grade Surface Samples, Including 1540 g/t Silver and 6.88% Copper; and 1410 g/t Silver 5.41% Copper at Eliza Silver Project in Nevada

    Sept. 9, 2021


    • On September 9, 2021 at 10:25 am,
      David says:

      I haven’t heard of Lakewood before. Looks like it is samples which always seem higher than the drills, but name to keep track of. It appears they are going into a brown field operation which I am getting more comfortable over time as there are often some old records of drills or production under less than modern techniques. I will have to keep Lakewood in my head. I had relatives in the Old Days from Lakewood Ohio in Cleveland. That initially caught my attention until I saw the silver and copper combination above. Thanks EX.

      • On September 9, 2021 at 12:37 pm,
        Excelsior says:

        I got positioned in Lakewood a few weeks back based on an article that Jeff Clark wrote, that I mulled over after having talked with management back in July, and when they announced on Aug 9th about picking up the 2 projects in Nevada, to compliment the one in Idaho. Yes, agreed that rock chip samples are nice, but not necessarily reflective of what the drills will hit, and the drill assays are primarily what will truth it out.

        That is funny David as I also thought about Lakewood Ohio too, having spent over a decade of my formative years growing up near the Akron area (close to Lakewood), was often in downtown Cleveland driving through Lakewood, and then spent summers up on Lake Erie in Sandusky on the other side of Lakewood. That was post Evansville, IN, and the California period in L.A. and San Fan, but before Cincinnati, Knoxville, and Nashville.

  14. On September 9, 2021 at 7:40 am,
    Excelsior says:

    (VG) (VLMZF) Volcanic Gold Mines Drills 6.52m @ 16.31 g/t Au at Holly Project in Guatemala

    Sept. 9, 2021


  15. On September 9, 2021 at 8:07 am,
    Excelsior says:

    Gold Puts on Dancing Shoes

    by Sean Brodrick | September 9, 2021

    “A lot of investors hate gold right now. Hate it!”

    “And for good reason.”

    “It’s underperformed lithium, rare earths, copper, aluminum, palladium, platinum and most recently, uranium.”

    “While all the other girls are jumping out the convent window to go to the town dance, gold lay in bed like a lump, alongside her sister, silver.”

    “But recently, gold put on its dancing shoes…”


    • On September 9, 2021 at 9:08 am,
      David says:

      I am so depressed. I read that “everyone” hates gold…everyone. I don’t and now I feel alone and lost.

      • On September 9, 2021 at 9:12 am,
        Excelsior says:

        Do get too discouraged David. Sean just mentioned that “a lot” of investors hate gold right now, but surely not “everyone.”

        He’s correct that many other sectors and even many other commodities have done better, which is why it is wise to be diversified in one’s portfolios, but at this point the risk/reward set up is looking much more attractive for the PMs as a result of their relative underperformance to other asset classes and commodities.

        • On September 9, 2021 at 9:35 am,
          David says:

          Right above the GDX Chart “Everyone Hates Gold”…I was reading along until that point. I was so hurt and became despondent. But, tomorrow I can buy some stuff…what to buy, what to buy…

      • On September 9, 2021 at 11:08 am,
        Matthew says:

        Don’t worry David, feeling alone is a good thing in this business and it’s the eternal pessimists that are lost.

  16. On September 9, 2021 at 8:18 am,
    jonsyl says:

    gotta be a pony in there somewhere
    bought KL january calls
    Glenfish made me do it. LOL

  17. On September 9, 2021 at 8:19 am,
    larry says:

    my gdx analysis got me back into NUGT…Not to be taken as investing advise….This could be a trading cycle low here or near…glta…GLD very interesting unusual double test and rejection of .382 Fib retracement level…possible head and shoulder set up…time symmetry is still not correct…so no slam dunk…..

    • On September 9, 2021 at 8:54 am,
      BDC says:

      Keep an eye on the Dollar, especially for these spot plays.

      • On September 9, 2021 at 9:03 am,
        BDC says:
      • On September 9, 2021 at 9:11 am,
        David says:

        The Dollar is not real. Keep an Eye on The Fed. Tricky dudes… 🙂

        • On September 9, 2021 at 9:33 am,
          BDC says:

          Real or not, in the short term it has a direct effect on pricing.

          • On September 9, 2021 at 9:45 am,
            David says:

            What else they got going for them that they can move around…

          • On September 9, 2021 at 9:54 am,
            BDC says:

            It’s simply that which accepted pricing is based upon. Veracity of that basis is not important, at least in the short term.
            BTW, I missed a play like Larry’s earlier (via JNUG), but would have sold half at about the current level, put a tight stop on half of that, and a break-even stop on the remainder.

          • On September 9, 2021 at 10:08 am,
            BDC says:

            This is it: https://postimg.cc/yk1DyY8J
            The 50% sell point is double the buy based upon day low.
            Stops would have then been set at 63.04 and break-even.
            (Total initial ‘risk’ less than 50 cents.)

          • On September 9, 2021 at 10:20 am,
            David says:

            That trade sounds like more fun than sitting on my hands. Congrats

  18. On September 9, 2021 at 8:45 am,
    jonsyl says:

    pgm looks so yummy at .98 cdn right now. More cheese in the trap???

    • On September 9, 2021 at 9:20 am,
      Excelsior says:

      Agreed. It does look like an attractive spot to add even more, but I had already added a bit more yesterday in to the weakness on the financing news.

      Whether it’s cheese in the trap remains to be seen, but PGM is not pricey here by any stretch, nor was it 15-20% higher than where it is now. Even if it does pull back a little more, most of the downside is priced in at this point, and the upside potential warrants some speculative funds in my portfolio because I could see it being a 2-3 bagger+ in year’s time.

  19. On September 9, 2021 at 10:04 am,
    jonsyl says:

    Ex, thanks for feedback.
    should gold close above 1830 or so, it will likely be dynamite. There’s always an if.
    If it can’t stay above 1800, and closes at a low for this week, then maybe not end of world, but likely for another splashdown.
    Will see how the rest of day goes.

    • On September 9, 2021 at 12:42 pm,
      Excelsior says:

      Agreed jonsyl. Yeah, that’s the only thing we can all do is have a strategy “if” a target is hit on support or resistance, and take things one step at a time. Yes, I’d like to see gold get above that mid $1830’s resistance on a closing basis (preferably a weekly closing basis), and then next resistance is at $1851, then $1900, then $1919-$1921, then $1962-$1966, and finally the all time high at $2089. That is a lot of work still to do for the yellow metal, but a break in the high $1800s should get the momentum moving, and then a break into the $1900s should captivate more interest from the generalist investors still ignoring the PMs for the most part.

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