Recapping this week for metals investors
Craig Hemke, Founder and Editor TF Metals Report joins us to recap the week of trading in gold and silver and look ahead to some potentially market moving events next week. Unfortunately it was another down week for PM investors with the stocks also following to the downside.
Click here to visit Craig’s site and keep up to date on his thoughts on the metals.
Craig Hemke – Economic Downturn in 4th Quarter
Liberty & Finance w/ Elijah K. Johnson – Sept 10, 2021
0:59 Gold/silver pullback
3:22 Key price levels
7:19 Fed taper?
10:23 People will wake up
14:07 The Fed & markets
17:16 Vaccine mandate
20:25 Economic outlook
China Evergrande’s Snowballing Debt Crisis
Reuters – Sept 14, 2021
“China’s most indebted property developer Evergrande Group is struggling to solve its debt crisis, while there are increasing signs that policymakers are stepping in to avoid a hard landing for a company deemed too big to fail…”
https://www.reuters.com/article/china-evergrande-debt-idCAL1N2QC07N
Isn’t Denison a low cost North American uranium producer with its Wheeler River project?
Isn’t the Ortalyk mine, 49% owned by CGN Mining(1164:HK), even better?
Denison used to be in production in the US in the prior Uranium cycle, but sold all those assets a while ago, offloaded their African Assets into GoviEx, and have focused on exploration and development assets in the Athabasca Basin in Canada the last few years.
Their Wheeler River and Phoenix projects are development stage, but not currently in production, so they are essentially a developer. (DNN) (DML) will be the first Canadian company in development to get their project into production, years before other companies, but they are going to pursue the ISR insitu mining method which has never been tested in Canada or the Athabasca before.
Denison still has a partial stake in the McClean Lake Mill in the Athabasca, that processed ore from Cameco, but that mine is on care and maintenance still.
Denison used to manage and be the custodian for the Uranium Participation Trust, but over the last few months that was acquired by Sprott and turned into their new Sprott Physical Uranium Trust (U-UN.TO), and that is the vehicle mopping up so much of the spot U308 market with their At The Market financings then tasked with buying physical in a 30 day window. This buying has accelerated the recent move up in spot pricing and given the miners another boost.
I nibbled at a little (UUUU) (URG) (UEC) and (NXE) today now that some of them have corrected down 15% from where I trimmed them, but I’d get more interested if we saw a deeper corrective move.
Preview : https://tinyurl.com/2vc9pznu
Note new category, especially in “Related”.
Yes, I see the 2 Uranium ETF have those dark grey cells for “Dynamic Power.”
Below that see “Saturated Turn” in shaded gray.
It is an “Active Date”, so this may change.
Otherwise, the Uranium top is in.
Earliest bottom Wednesday.
That is FOMC day !!
Adjusted for greater clarity.
BlackRock Fund Manager Says He’s Cut Gold Holdings To ‘Almost Zero.’ Here’s why.
Market Watch – Sept. 17, 2021
“Fourteen months ago, we had a fairly significant position in gold. Today, we’ve reduced it to almost zero,” Russ Koesterich, the manager of BlackRock’s Global Allocation Fund MALOX, told Bloomberg in an interview.
“We primarily think of gold as a hedge against equity risk, and that works when you’ve got an environment with real rates that are flat or declining. If part of our view is that real rates normalize a bit, that particular commodity is unlikely to work as well as it did in the middle of 2020,” said Koesterich.
Near term, he said there are likely “better hedges against inflation in the equity market and rather than own an asset that doesn’t produce cash flow, we would rather hedge some of the near term upside with stocks that have pricing power.”
10 year yields…Weak move up at wave E already after achieving a mere .382 retracement…Just not strong…But strong enough to put some dollar strength in….No luck on this front towards gold strength…But the move appears counter-trend and waning …..
No need to listen to these clowns anymore, the writing is on the wall. Another crash is in the cards and the PMs & miners are flashing this right now.
BHP and RIO both have been crashing for the past month, along with all the other miners.
It’s over now, finished. If you haven’t sold out by now then you’ve probably watched all your stocks go from being in the green to now at least at break even or in the red.
Sell NOW!
If you don’t, you will regret it. Come November everything will be much lower.
MUCH LOWER.
Where did CGN Mining get 1/2 billion to buy their stake in Ortalyk mine from Kazatomprom? There’s plenty of cash here for Evergrande too.
The silver miners usually provide at least 2 to 3 times leverage to the price moves of silver yet they gave virtually no leverage during silver 5% drop yesterday and today is even better, much better. SIL and SILJ are both down less than half as much as SLV at the moment.
Interesting SILJ:SLV pattern:
https://stockcharts.com/h-sc/ui?s=SILJ%3ASLV&p=D&yr=2&mn=2&dy=0&id=p70065709770&a=798299596
Trading cycles are about 28 days for gold, this is day 28 since the previous one… today is much better candle to form a swing low from….3 candle morning star would do the trick….miners are NOT being dumped…no
SILJ is still up over 3 percent versus SLV this week and its decline since June is long in the tooth…
https://stockcharts.com/h-sc/ui?s=SILJ%3ASLV&p=W&yr=2&mn=2&dy=0&id=p05404715766&a=1028057241
FWIW:
I looked at my ‘not as good as good as Matthew’s and Doc’s” charts today and found several of my miners at, near or below the their lower Bollinger Bands. RSI fairly low also. Here are the ones that are the most oversold in random order;
Emerita, Labrador, Discovery Silver, Summa Silver, Silver Tiger, Blackrock Silver, Great Bear and Big Ridge. Another interesting thing were most of the remainder were around their moving averages and I think it was a 20 day.
MAKE YOUR MOVE !!!!
1980 to the year 2000 was up and down up and down up and down. 20 YEARS
We are now and about the 10th year of this with the mining shares- up down …..
I suspect this type of action will end at the end of this year. I’ll place the odds of about 90%.
Reason: debts are soaring to astronomical levels on steroids. The up down action is going to end at the 10-year mark not at the 20-year mark from 1980 to 2000.
Unless we have a Black swan and that comes earlier rather than later waiting till next year.
Confidence will be lost soon. I’m not convinced of an $8,000 gold price at the end of 2022 like Michael Oliver forecasted. The gold crowd there will be content with $3000. Although I think 5,000 is possible within a few years and possibly even 8 or 10,000 like Michael Oliver said.
So, either buy now gold mining shares and take your chances or wait until December to pick up bargains if that scenario comes to fruition.
With that being said, there’s nothing else to do except keep scratching your head in frustrations. Is that your favorite pastime ?
Psalm 90:10
New International Version
10 Our days may come to seventy years,
or eighty, if our strength endures;
yet the best of them are but trouble and sorrow,
for they quickly pass, and we fly away
Make Your Move
1 Peter 1:24-25
For all flesh is as grass, and all the glory of man as the flower of grass. The grass withereth, and the flower thereof falleth away:
25 But the word of the Lord endureth for ever. And this is the word which by the gospel is preached unto you.
James 4:14
Whereas ye know not what shall be on the morrow. For what is your life? It is even a vapour, that appeareth for a little time, and then vanisheth away.
Matthew 6:24
No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon (money)
Bible studies now
Matthew 24:10-12
And then shall many be offended, and shall betray one another, and shall hate one another.
11 And many false prophets shall rise, and shall deceive many.
12 And because iniquity shall abound, the love of many shall wax cold.
“… hours could seem like days.” ~ Spock
I thought thought that was sunday.
Conditions will improve when Xi learns to keep his mouth shut and his hands in his pockets.
China boxes clever and seeks to outwit America’s growing military belligerence through its economic clout
https://www.rt.com/op-ed/535112-china-boxes-america-growing-military/
China could be out maneuvering america big time.
CHINA’S SHENZHOU-12 SPACE MISSION CREW SAFELY LANDS AFTER 90 DAYS IN SPACE
https://southfront.org/chinas-shenzhou-12-space-mission-crew-safely-lands-after-90-days-in-space/
Why don’t Chinese astronauts brush their teeth in space?
Cause they got no teeth.
T i a n gong space station
T i a n gong, officially the T i a n gong space station, is a space station being constructed by China in low Earth orbit between 340 and 450 km above the surface. Being China’s first long-term space station, it is the goal of the “Third Step” of the China Manned Space Program. Wikipedia
Launch date: April 29, 2021
Orbit height: 425 km
Manufacturer: China National Space Administration
Length: ~ 20.00 m
Mass: 100,000 kg
Orbital inclination: 41.546°
Orbital speed: 7.68 km/s
Is China already the world’s most dominant economy? –
The …https://www.economist.com › .. › Sep 18th 2021 edition
5 hours ago — To gauge a country’s economic “dominance” M r Subramanian combined its share of world trade, net capital exports and global GDP (measured at both .
Anyone that cant see whats happening is blind.
America’s nationless puppet masters are behind America’s fall AND China’s rise. The sheeple are indeed blind.
Ditto…….
Jeremiah 1:10
See, I have this day set thee over the nations and over the kingdoms, to root out, and to pull down, and to destroy, and to throw down, to build, and to plant.
Psalm 9:10
King James Version
10 And they that know thy name will put their trust in thee: for thou, Lord, hast not forsaken them that seek thee.
2 Chronicles 7:14
If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.
Proverbs 30:12
There is a generation that are pure in their own eyes, and yet is not washed from their filthiness
Proverbs 14:12
There is a way that seems right to a man, but its end is the way of death/eternal punishment the second death gehenna.
Ask any sheeple, Who is running the country?
They will answer, Joe Biden.
Of course its Joe.
China climbed up on the back of the US but they think they did it all by themselves. I’m sick of Chinese bullshit talk.
SLV:GLD filled its December 1st gap…
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=1&dy=0&id=p19898214075&a=1027256883
Silver is close to multiple supports including its 2 year moving average.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=1&mn=3&dy=0&id=p68806183599&a=1006592642
Dollar : Friday Close : https://saturationtiming.blogspot.com/2021/09/dollar-this-week.html
By the end of the year most of the pain should be over for the PM stocks. The silver chart still looks awful and a lot of the silver companies have farther to fall—just be patient and you will have deals you can’t imagine.
Candy for free?
Correct.
This guy covers it all. Some encouraging technical forecasting that he shows for silver…
That’s as far as I’ve watched thus far’
“Francis Hunt”:
https://www.youtube.com/watch?v=cVw-7wkpqv4&ab_channel=PalisadesGoldRadio
Drilling in Nevada Panel
6ix – Thu, Sep 16, 2021 #Webinar
Join four industry leaders for an insightful discussion on the current state and future of mining in Nevada. Hear from:
Ridgeline Minerals Corp. TSX-V: RDG | OTCQB: RDGMF
Contact Gold TSX.V: C, OTC: CGOL
Headwater Gold CSE: HWG
Gold Bull Resources TSX-V: GBRC, OTC: GBRCF,
https://webinars.6ix.com/6ix/Drilling-in-Nevada-Panel?bmid=fb23f6664e18
So what’s the problem with PMs/miners spitting big cash flows, etc. Possibly if one thinks about the programmers of the machines controlling 90-95% of trading, we would have to assume they’re a different generation. Many in their 30’s or younger. Isn’t it realistic to see they have a totally different mindset than we old timers who have followed and believed in gold for at least 30 or 40 years? Most probably believe in cryptos as one of the new saviors. Gold and silver is so yesterday……..No? All I know is that my stash of physical won’t ever be sold. Last added to it in 2016. Have considered cashing in my trading account and applying it to physical but likely won’t. I remember too many times when things came back, big, like January of 2016. I’m willing to wait for that event again because I know it’s coming. Just don’t know if I’ll be around to enjoy it once more but will gamble that I am………..Just my take.
The key is defeat of the Master/Slave Ideology, which has brought down every Western Civilization; even the great Doric Spartans, and of course their antecedents.
Craig Hemke – Something Big Is Happening In 4th Quarter
The Financial Brief – Sept 17, 2021
“In this video Craig Hemke talks about why we should prepare for an economic downturn and hold on to our precious metals.”
https://youtu.be/UnQxXVgmBnI