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Recapping the recent Metals Investment Conferences and related charts to make sense of the continued weakness

Cory댊
September 18, 2021
Full Weekend Show

Well it was another bad week for metals investors, except for uranium stocks which continue to be the one bright spot in the resource sector. Thursday’s retail sales data further pushed gold, silver and the underlying stocks down. With all eyes on $1,675 again for gold and the key $22 region for silver there is more fear in the markets. We continue to focus on companies that could diverge from the weak sector based on ongoing work programs and increasing production numbers. Please have a listen to the Company updates we recorded throughout the week – all are link below.

  • Segment 1 and 2 – Jayant Bhandari, Private Investor and Consultant kicks off the show by recapping the resource investment conferences he attended over the last 2 weeks (Beaver Creek and the Denver Gold Show). He shares a couple companies that caught his eye at the conferences. We also discuss the major run higher in Uranium stocks and where he sees the sector going from here.
  • Segment 3 – This is a replay of Christopher Aaron’s interview, posted on Tuesday, focused on the gold and silver charts. After the sell-off on Thursday some of the levels he outlines are now even more important.
  • Segment 4 – Marc Chandler, Managing Partner at Bannockburn Global ForEx and Editor of the Marc To Market webiste joins us to take a step back and look at the data from this past week and the 12 central banks that are meeting next week.

Exclusive Company Interviews This Week


Jayant Bhandari
Christopher Aaron
Marc Chandler
Discussion
182 Comments
    Sep 18, 2021 18:38 AM

    I like Jayant Bhandari, JB say’s “when you are greedy you ignore what your greed doesn’t like”, that is a classic statement. LOL! It didn’t take me long when I started to invest that everyone in the markets is “GREEDY”. That is the first thing you need to realize about investors.

      Sep 18, 2021 18:01 AM

      From the sale of liberty bonds in The First World War to the opening up of the stock market to the public in the early 1920’s, to massive QE today, it’s all greed driven. Greed built The House Of Cards and Greed will bring it down. Isn’t life Evergrande! DT

        BDC
        Sep 18, 2021 18:25 AM

        “Greed is Intelligence Failure!”

    Sep 18, 2021 18:35 AM

    Wow. Mr Bhandari is the first Uranium bear i have heard. Its good to be exposed to that viewpoint, but I”m sure glad i got into the sector! This isn’t a trade I’d like to watch from the sidelines.

      Sep 18, 2021 18:22 PM

      Agreed.

        Sep 18, 2021 18:53 PM

        Regardless of whether retail investors piling into the Uranium miners fully understand the supply demand fundamentals of the entire market is not required to make a profit in the sector.

        It was not required for retail investors in mining stocks to be as savvy as utility buyers to understand enough about the macro set up that pricing needed to come up a lot higher than where it double-bottomed in the mid-$17s in late 2016 and again in late 2017.

        It was clear, even to new investors to the sector that the Uranium price would need to come back to the incentive price of production ($50-$60), and when it did many miners would go up multiple-fold (which they absolutely have over the last few years). Was that just “greedy” or was that a wise and logical risk/reward setup?

        It’s interesting that it is fine to look for opportunistic oversold conditions in gold & silver stocks and that’s called buying low, but if one does it in Uranium stocks for an even more obvious market mismatch in supply/demand, as more an more Uranium was being mopped up on the spot market, that this was now “greedy.”

        In addition to Cameco, and Ur-Energy starting the trend of buying into the physical spot market to fulfill their remaining contracts the last few years, in 2020 we saw something new – the entrance of the non-producers. Last year and this year when Dension, Uranium Energy Corp, Uranium Royalty Corp, enCore Energy, Boss Energy, and others starting buying in the spot markets, that was the first time we’d seen non-producing companies buying in the spot markets, and this started moving price higher, as supply was taken up. That is economics 101.

        So again, it was not necessary for retail investors to completely understand what it would mean to the spot price with 7 U companies and now the Sprott Physical Uranium Trust buying like crazy with their “At The Market” financings requiring them to settle the acquisition of more physical in 30 days. All people needed to know, for a good speculation was that the demand has been constant, and actually growing as there are more new & larger reactor builds underway that more than offset the closures, mixed with shuttered or scaled back mines across the planet, and a disappearing spot market.

        Again, that is basic economics, if there is constant and growing demand, running into shrinking supply that is and has been in a deficit, then pricing will increase to balance that out. And it has. Uranium is not $17 any more but in the mid to high $40s, and approaching the incentive price to bring on production again.

        Clearly the Uranium stocks have responded with a ton of upside torque, and many are up 300%-1000% off their lows last year, and many doubled or tripled in the last 2 months.

        One didn’t need to be greedy or lustful to capture those gains; they just needed to be observant and take action to capture the inevitable rise higher in prices that ensued. The question now is, have the miners overshot to the upside?

        As mentioned over the last week, I started trimming into this crazy strength in the Uranium miners last Friday, then sold more on Monday, Tuesday, and Wednesday until I only had a 15% position left in 6 U stocks. On Friday I added in a bit more to my positions, since they had sold off enough on Thursday and Friday to take my positions up to about 25%, buying into the weakness.

        Also the gains in the Uranium stocks earlier in the week provided funds to pounce on some of the continued weakness in the Precious Metals stocks on Thursday and Friday.

          BDC
          Sep 18, 2021 18:10 PM

          The Sprott thing reminds me of the Hunt brothers in silver 40 years ago, the difference being the near absolute necessity for energy (whatever its source) if even a constant population is to be maintained.

            Sep 18, 2021 18:52 PM

            Sprott also has a Gold, Silver, Platinum, and Palladium trust, and this Uranium trust is just the same kind of investment vehicle.

            The only difference with the reaction in the Uranium spot price, is that there has clearly been little supply in spot markets (econ 101 on supply & demand), and thus prices went from the low to mid $30’s to the mid to high $40s. Cause and effect at their basics.

            Again, nobody had to be greedy or lustful or even that well-versed in the intricacies of the nuclear fuel cycle, to know prices were going to need to go up, and thus, the mining stocks would outperform to the upside. Isn’t that what many people claim to be looking for in their investments? (value, with upside growth potential).

            It’s a trade that had been well telegraphed, discussed many times, and gave resource investors plenty of time to get positioned in before it happened. Nobody should be surprised by the move that just played out in the Uranium stocks that was paying attention.

            Sep 18, 2021 18:11 PM

            The upward price action in spot pricing, which has been directly correlated to all the buying in the physical markets from 7-8 mining companies and the Sprott Physical Uranium Trust is undeniable.

            _____________________________________________________________________________

            numerco @numerco 9:01 AM · Sep 17, 2021 – Twitter:

            Spot #uranium 50.50/52.00 USc/Lb #U3O8 (Delivery at CMO , Chg +88c, +1.72%)

            https://twitter.com/numerco/status/1438895776751620100

            Sep 18, 2021 18:06 PM

            I think there was plenty of notice as I was in and out three times. I just wasn’t in when the price went up.

          Sep 18, 2021 18:14 PM

          While I normally agree with Jayant, this time I must differ.

          Even environmentalist are coming to accept that nuclear power is needed. They are facing the reality of available options – do they want to burn coal or build a nuclear power plant? For me and others that is easy – build the plant. Do they want to burn natural gas or build another nuclear power plant – for me that is easy too –

          Japan is looking at starting up its reactors and more reactors are on the drawing board elsewhere. I just think that more uranium is needed in the future than is available. Now what that timeline is well that is unknowable and perhaps things are getting a bit ahead of itself but the demand will grow. Also, remember that Russia had lots of uranium to sell for many years but that surplus appears to have dried up. Also remember that the cost of uranium for a nuclear reactor isn’t a big deal, they will pay whatever it costs. So if it double or triples -the operators really don’t care – that cost is passed on to their rate payers.

          Personally, I’m thinking of selling all of my stocks and just holding on to the Sprott Trust shares and see how stuff settles out.

            Sep 18, 2021 18:02 PM

            Agreed Mike. Great comments there.

          Sep 18, 2021 18:03 PM

          Uranium: The Calm Before The Storm?

          Greg Goernert – 09/17/2021

          “Greg is joined by Canaccord Genuity Uranium Analyst Katie Lachapelle for her take on what she sees as the turning point in the Uranium Market and where we are headed in 2022.”

          https://youtu.be/8pNEWS7WQhQ

          Sep 18, 2021 18:14 PM

          What’s the deal with thorium, supposedly a safer more abundant fuel alternative?

            Sep 18, 2021 18:11 PM

            Thorium reactors have been discussed for 50 years. The Chinese may start making some in a few years. That doesn’t change the 440 Nuclear plants running on Uranium that still will need fuel for decades, nor does it address the small nuclear reactors that some countries like Russia are starting to build.

      Sep 19, 2021 19:54 AM

      Rick Rule isn’t bearish on the price of uranium itself and actually is quite bullish but his view of the stocks could be construed as conservative if not slightly bearish.
      https://stockhead.com.au/resources/rick-rule-says-uranium-stocks-frothy-less-attractive-than-last-bull-market/

        Sep 19, 2021 19:14 AM

        In general, I agree with many of the points Rick Rule made in that editorial piece, and it is similar to why my portfolio of (7 and now 6) U stocks got trimmed back so aggressively last week when they shot up on even another leg higher to the lofty levels that they did.

        That doesn’t mean there isn’t more medium to longer term upside in the sector – far from it.

        Likewise, it doesn’t mean that the retail Reddit and Robinhood mobs can’t push the U stocks even higher in the short-term. However, the risk/reward set up has been reduced substantially after such an epic run higher in the miners at this point.

        For those of us that have been trading and following the space for many years, it is clear that a big piece of the market cap gains and share price appreciation anticipated in the U miners has already played out over the last few years. People wanted 4 baggers, 6 baggers, 8 baggers, and 10 baggers and they got them.

        A key point to consider is where these U stocks were valued with regards to their market caps in late 2016, and where they are valued today, are really night and day. The share counts were less bloated back then, and the market caps much smaller, and now 5 years later, many have increased in share price, but also have many more shares outstanding. Most companies had to raise funds to stay alive during such a rough period, where the Uranium price stayed below the incentive price to bring on new production.

        Around Thanksgiving of 2016, I was buying the miners with both hands and had pointed out that Uranium in the $30’s or $20s had already been nuts, but Uranium at $17-$18 was completely insane, and there was no way it would stay down there. It’s much like when Oil went down to $10 last year (and then went negative on the futures contract). Obviously that was a generational buying opportunity for the underlying commodity based on how it was priced.

        The U miners had their first big rally out of the end of the 2016 and moving into the Q1 Run of 2017. The spot price bounced back up above $20 and many U miners doubled and a few were up 2.5 to 3 times just on that first move of the bull market. That time from late 2016 to the first quarter of 2017 was the first green shoots in the new Uranium bull market, and those equating the move over the last month to the first move up in the Uranium space are years late to the party at this point.

        Uranium did correct back down during 2017, and by the Fall got right back down to that $17-$18 level again, and held that level again, for a massive double-bottom, and the sector rallied again from late 2017 into the Q1 run of 2018. That was the second time for a nice seasonal rally in the U stocks.

        Fast forward to last year, and the Pandemic Crash in March 2020, crushed all asset classes across the board down to extreme panic selling levels, so it was the great equalizer. That move punished everything everywhere, due to the unprecedented nature of the market shock, so it was an excellent place for bottom fishing deep value, and Uranium stocks were no exception.

        During the Pandemic Crash of March 2020, many stocks made new lower lows, even lower than in 2016 or 2017, but keep in mind due to all the share count dilution, their market caps were still higher in some cases or similar to where they were back in 2016 and 2017 at the Uranium spot price double bottom. Regardless, that crash in the spring of 2020 was the best spot to be buying almost anything – Gold & Silver stocks, Lithium stocks, Copper stocks, PGM stocks, and yes, Uranium stocks. I added in March – April to my UUUU, URG, DNN, UEC, NXE, and figured, either it’s the end of the world, or these stocks are going to rebound back up to more rational levels.

        The Uranium stocks did rally off last year’s low, just like most sectors did. However, unlike the PMs that peaked out in August of last year, the Uranium stocks had another 2nd big leg higher, post the pandemic crash bounce, and actually kept rallying from October of 2020 through February of 2021. I had mentioned a number of times trimming some Uranium stocks back in January of this year after such an epic run, and many stocks in the sector shot 300% to 1000% on that move into the Q1 Run of 2021.

        A big part of that continuation of the move higher from last year to early this year was predicated on the closures of more mines, the producers and non-producers starting to buy in the spot markets, the drying up of secondary supply from Russian underfeeding, and the dialing back of production from Kazatomprom (the sectors swing producer).

        That was the easiest money made in the Uranium sector that I’ve seen in over a decade, as someone that has been trading the U stocks since 2010.

        During the course of this year, the U stocks did correct back down again March, where it was a good spot to add, and had little whipsaw rallies that were also fun to trade to scalp gains, but in general, by mid-summer most stocks had corrected down into June & July, for another good accumulation point. Most investors in the space that shared their comments on various economic chat forums, Twitter, YouTube, etc… mentioned just holding steady, and in fairness, some of them may have first bought at higher levels in late 2020 and earlier 2021 and may have been sideways to down if they did that, and weren’t actively trading. Having said that, there have still been plenty of investors that had acquired at much lower levels, and when we saw the summer corrective move, were still well in the money.

        This summer, many were covering the news and move by Sprott to take over Uranium Participation Corp, but were frustrated this news was not moving the dial on the spot prices or in the miners… yet. Many of the comments back were from bashers stating to “keep dreaming” or the “sector is dead” etc… Normal basher stuff without substance or rationale, but there were likely some newer investors that may have become disheartened during the Summer Doldrums.

        However, as we’ve all just seen from August to September, once the Sprott Trust did start buying, then the U308 spot market responded by rallying from the $30’s into the high $40s (with some outlets reporting a $50 price last week).

        > The Uranium mining sector definitely got the memo.

        The U miners went on yet another run to even higher levels over the last month, and stocks packed on big gains once again.

        However, unlike a great deal of the recent main stream financial media coverage, or Reddit and Robinhood threads, this was not a new bull market starting last month, and as pointed out in this lengthy post above, this gradual grind higher has been playing out for many years now in fits and starts, with a number of prior tradable rallies.

        This is all very similar to how the PM bull market actually started when gold bottomed in Dec 2015, and the miners bottomed in Jan 2016, and has been playing out about the same amount of time, in fits and starts, and yet many outlets remarked that the gold bull market started in late 2019 or 2020, when it had actually lifted off long before that. These things take a while to build momentum, get companies financed, get them moving their projects along, get their stories shared with the investment community, and for the commodity price to hang onto gains and go up to the next level in a 2 steps forward, then 1 step back process.

        At this point, much of that easy money has now already been made in the Uranium stocks, and after this recent rally, they are no longer “cheap” or even “deep value” anymore. One could make the case that at this point, most of the companies have already priced in the incentive price for new production to have arrived in the Uranium mining sector. Since the spot price is either right at or just below $50 now, one could make the case that most of the Uranium stocks have already re-rated at this point.

        While the Sprott Physical Uranium Trust will keep buying, we don’t know if warehousers, hedgefunds, and carry traders are going to start selling into these higher prices on the spot market soon, which could turn into a headwind for much higher prices. The next move will need to come from the utility companies meeting with Uranium producers on standby and on developers to set up longer-term off-take contracts once again.

        If that happens, and utility companies start setting up off-take contracts with producers like Cameco, Energy Fuels, Ur-Energy, Paladin, and Peninsula, and some of the developers next in cue like Denison, UEC, enCore/Azarga, Laramide, Global Atomic, etc…. at $55 or $60, then how much upside is really left at this point?

        Sure the prices could rally up into the high $50s or $60s on the spot market, or maybe even the $70s or $80s in 2-3 years, but for the shorter term, the Uranium stocks have become a crowded frothy trade.

        I did do a little buying on Friday to take my 6 positions up from 15% positions to 25% positions, as the miners had corrected back down hard on Thursday and Friday last week. However, for now after having harvested nice gains a number of times for the last few years in the Uranium sector, I’ve really lightened the load, even as a medium to longer term bull for the sector.

        When Rick Rule mentioned having sold down his positions by 50% – 60% because the Uranium stocks market caps are so bloated now, that makes sense to me. Rick also mentioned he still believe many of the stocks are still 3 baggers from here, which I also agree with, but it may take some time to get there, and that may play out after another corrective move, or at least a sideways digestion period.

        I’m at the point now, after having such a nice rocket ride higher, that if they keep shooting higher, then I’ll still have some partial positions in place and plan to build on them during pullbacks. However, it just needed to be noted that the low hanging fruit has all been picked before this recent move higher, and those piling into the stocks over the last month for the first time are definitely late to the party. That doesn’t mean the party can’t just keep rockin’, and that there won’t be even crazier spectacles to be had, but investors are starting to look pretty drunk on the recent sweet gains flowing at the party, and those are periods of time, where I like to take a break, grab a glass of water, and go out on back porch for some fresh air for a while as an investor.

        We’ll see how the saga in Uranium stocks continues to unfold, and for the sector’s sake, I do sincerely hope the pricing gets up and stays up in the mid $50s to mid $60s, so miners can bring their projects back on-line again, and producers can start producing revenues again. The sector needs it.

        Ever Upward!

          Sep 19, 2021 19:57 AM

          Sorry Ex, would you mind elaborating on your point when you have some time….😏

            Sep 19, 2021 19:15 AM

            Hahaha! Good one 🙂

            Sep 19, 2021 19:53 PM

            Haha! That was the short version Wolfster. Some other time I’ll unpack it a bit more. 😉

    Sep 18, 2021 18:37 AM

    Money is the root of all evil. The very cause of tragic outcomes, family break ups, prison sentences, homicide and many suicides. Keeps the undertaker busy.

      Sep 18, 2021 18:16 AM

      I think the maxim is “the love of money is the root of all evil” money in of itself is neither good or evil…requires the will of a person behind the money and what money is

        Sep 18, 2021 18:27 PM

        Bingo Terra.laser. It isn’t money that is evil, as it is merely a tool for manifestation.

        It is the “love” of money that is “evil,” as is stems from unquenchable desire to accumulate at all costs.

        Money is still behind much of the “good” and “love” in the world.

        Essentially, it is nothing more than a tool, and like most tools be it a club or a knife, it can be utilized for both “good” or “bad” depending on the intention of the one wielding it.

          Sep 18, 2021 18:30 PM

          You’re missing it though. Money is still the root and that’s what leads to the evil in almost every case.

            Sep 18, 2021 18:41 PM

            Matthew 6:19-21
            Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:

            20 But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:

            21 For where your treasure is, there will your heart be also.

            Sep 18, 2021 18:56 PM

            No, I get it, the true treasures are that of the spirit, and love, and not of this carnal world. The point is that money is simply a tool, and not inherently any more evil than a knife, that can be used to cut vegetables and feed one’s family, or used to take a life. Money is just as inert as the knife, and neither evil or good.

            The biblical quote clearly states that it is the “love” of money that is the root of all evil. Many people leave out the key word in that statement.

            Sep 18, 2021 18:04 PM

            I know you do !! Money in itself isn’t evil it’s just that it is the root that leads to all the evil in most cases.

            We’ll, store up your treasures in heaven. Then I would have to say, you have it all figured out.

            This is temporary and eternal is for eternity that’s “”the path””. All other paths lead to eternal destruction / punishment.

            Sep 18, 2021 18:56 PM

            we can argue that sound money has brought more ‘good’ into our lives – than evil. War in fact, can be viewed as a settling of debt…Life is a constant struggle between good and evil. I would agree with an argument that sound money mitigates against evil…to the degree that our currency is not sound money is in some ways responsible for the evil we see on a daily basis (like the droning of seven innocent afghan children) is one that keeps me honest

            Sep 18, 2021 18:14 PM

            terra.laser, nice to see your posting again. Gold and silver is God’s money. Very very briefly we we’re on the gold standard at least United States for over a hundred years and of course even in the times of the Romans gold was money but then they decided to clip the coins and tax the people and keep clipping the gold coins until Roman empire collapse. United States didn’t have any inflation at all as far as necessities and then we had some periods real estate values going up. Inflation was very muted though. Everyone I knew of in my family paid cash for their homes all the way through the 1950s and then I think the 1960s that’s when they started with the usury. Everyone paid cash for their cars and there was none of these financing toxic policies destroying our world. Humanity is completely enslaved to the bankers. During the gold standard in the United States workers who were employed or whatever if they didn’t received a raise they did really well because a lot of times the cost of living was going down and they automatically received a pay raise. During that era there wasn’t any debt. Nothing like now governments and public debt is just astronomical there’s no comparison our world’s been flipped upside down. Eventually, maybe sooner rather than later this is going to cause financial Armageddon.

            SOME BIBLICAL FACTS BELOW SUPPORTING THAT GOLD AND SILVER IS GOD’S MONEY

            I will begin by saying Unapologetically that I believe God created gold and silver to be money. Man created fiat currencies. I do not believe that God’s plan for mankind is ultimately to have a corrupt monetary system controlled by a few central banks, who are in turn really just the front for a few Elite Oligarchs, who ultimately pull the strings behind the scenes. A debt based financial system is not scriptural, and in fact goes against scriptural principles. Therefore, why would God approve of it? Yet I hear so often Christians mis-representing two scriptures as their basis to scoff and mock at those who suggest transferring their fiat currencies into precious metals. They take those two verses out of context. Before I deal with those two verses (Ezekiel 7:19 and Zephaniah 1:18) I will lay a foundation to show why I believe they are taken out of context by those who scoff at Christians who believe in holding physical precious metals..

            “The silver is mine, and the gold is mine saith the Lord of Hosts.” Haggai 2:8 (KJV)

            “Because ye have taken my silver and my gold, and have carried into your temples my goodly pleasant things Joel 3:5-6 (KJV)

            Look at those two verses above. Who’s gold and silver was it? It was God’s right? Everyone knows that it takes work to get gold or silver. Remember the old days with people panning in rivers for gold? How about gold and silver mines. They have been with us since nearly the year dot. Who put those metals in the ground? Answer: God the creator. Why did he put them there? I believe one of the reasons why he created gold and silver was for the purpose of being used as money. You cannot manufacture gold. You cannot manufacture silver. You have to dig for them. It seems to me that anything of real value in this world takes work to get, or work to create. But how much work does it take to run off a string of notes from a printing press? Or even more in today’s world; How much work is involved in clicking a computer mouse, and thereby creating some new monetary figure into existence based on nothing of substance, and without ever even printing the notes? How much real worth is in a piece of paper? How much real worth is in a number on a computer screen? Currency can be created out of thin air. The crafty people at the top of the pyramid know this and use it for their own ends. Particularly since the creation of the Non- Federal entity called The Federal Reserve.

      Sep 18, 2021 18:17 AM

      HG, you left out the biggest greedy event of all time, WAR!

    MFP
    Sep 18, 2021 18:50 AM

    Hello my fellow Korelinites!
    Haven’t posted in years… San Diego is still beautiful, the beaches are still majestic and my G and S stacks are still very much intact… Stacking since 2007; Met Al in 2012 in Palm Springs at a resource Investment conference. I’m still all in and will stay that way… Hey, anything that is RIGHT in this life takes perseverance, determination and long term thinking/planning covered by Gods grace.
    If it makes you guys feel any better, there are a TON of experts out there that completely misjudged the power of the fed and the almighty dollar; NOT by months- but by years!!
    The USA is completely seduced by monetary madness that’s deeper and more pervasive than anything in world history.
    Let that sink in…….. You cave in now.. you will rue the day of reckoning more than you will ever know. Let people make their fiat currency and ride the “forever gravy train”.
    Cuz it ain’t NO forever and it ain’t NO gravy train. It’s a freight train headed right for ’em.
    All the best guys and gals.
    Peace and blessings
    MFP

      Sep 18, 2021 18:37 AM

      Long term stacking was much more lucrative than investing in loser mining shares. Investors chasing rainbows in paper with mining companies who are incapable of running a profitable business. Barrick is one of the better run mining companies and even they have seen their shares going nowhere for 20 years. In addition to that, there’s been many companies that have gone out of business shares went to zero.

      Sep 18, 2021 18:10 PM

      MFP……… are you SD Marc……. ?????????

        Sep 18, 2021 18:22 PM

        Could be SD BULLION. A stacker for years.

        Hear from the midnight gardner let me know.

          Sep 18, 2021 18:06 PM

          There was a guy named SD Marc….. we use to converse concerning his mother and some other stuff…just wondering if, it was the same guy…. Great guy, IMO

            Sep 18, 2021 18:28 PM

            I agree. He should return and chime in more often. There’s a real lack of contributors here. Sounds like a brethren as well. 👍

            Sep 18, 2021 18:38 PM

            Ditto…. I agree….

            Sep 18, 2021 18:10 PM

            👍I agree with you

      Sep 18, 2021 18:01 PM

      Hi MFP – thanks for your post. am up the road from you in Irvine. Your post provides some comfort – all the best.

      Sep 18, 2021 18:03 PM

      thank you for your post MFP. I am up the road north from you in Irvine. Your post provides comfort that like-minded people are near. All the best.

      Sep 18, 2021 18:05 PM

      thanks for your post MFP. I am up the road in Irvine. All the best.

    Sep 18, 2021 18:30 AM

    DT, the Day of reckoning !!! That’s when everyone loses it. Greed for resources. The debts are unsustainable as well. Are we there yet ? We are moving closer in that direction everyday. WAR what is it good for, the left loves it “”depopulation””. That’s their goal. The elite really believe they own mother earth and they do not appreciate the population and all the pollution that coincides with it. Time to exterminate !!!

    Sep 18, 2021 18:36 AM

    I mentioned sometime ago USA would lead the charge down in miners and from the looks of things, it’s putting in or close to putting in a longer term low. When we look back possibly 1 year from today I would tend to favor the odds of much higher prices.

    I continue to like what I see in regards to the overall sentiment which I mentioned with $bpgdm and finally approaching the levels I said would be a long term bottom for takeoff area in the miners. I have not deviated from that. In fact while everyone in here including my neighbors, newsletter writers, Youtubers, and many guest on the ker Have now gone the route of a bottom and gold and the minors dating out to December I’m taking the opposite side of the trade. We need to remember the back in August when everybody was very bullish very few in here including myself and doc we’re Bearish. All of a sudden now when I most bullish everyone has become ultra Bearish. I will remain a buyer here but I could very well see a significant low this month many of the minors I’m watching can have a little dip but can also turn from here. Remember folks once that time comes and moves you will be left in the dust chasing higher prices. Best of luck

    Glen

      Sep 18, 2021 18:45 AM

      Lower prices looks very likely in the next 12 weeks. Unless we have a event that comes out of left field driving prices higher. Other than that, lower prices are on the horizon it’s almost guaranteed.

        Joe
        Sep 18, 2021 18:01 AM

        Yep, that’s pretty much what’s being signaled right now.
        Asset prices will collapse and these miners will be ground into the dirt.
        Some think stocks like AXU can’t see their price cut in half from here. They are wrong.
        Just wait until stocks like NEM are trading at their early March 2020 lows… and then they cut their dividend.
        It’ll be a death spiral, but by that time the rest of the stock market will be in a free fall, and everyone will be rushing for the exits.

        Sep 18, 2021 18:22 PM

        Well the facts are you not anyone knows when the turn will come. It will be swift and fast and my point being, these are very attractive prices so to ignore these important previous support and resistance areas would be to be bias 100%. Please do us all a favor for being such a great talker holy, how about you put your money we’re your mouth is and let us all know when your buying instead of critiquing everyone’s opinions? You would gain more respectability making some calls in real terms.

        Glen

          Sep 18, 2021 18:40 PM

          Glen, I’ve already made plenty of investment calls on this blog long before you we’re even born with an accuracy rate of about 99%. Put my money where my mouth is ?

          I already disclosed I have a core position in the gold space. When I add to my positions that will be my discretion and I’m waiting till the end of the year.

          YOU HAVE A PROBLEM WITH THAT ?????

          By the way Glen, if I want to come in here and contribute to this blog I don’t need to be told by you to stop contributing it’s not up to you Glen.

          Regardless Glen, I don’t have a problem leaving here. I’m very capable of making all my investment decisions without any interference from anyone. The less company I have with my investment decisions, the better.

      Sep 18, 2021 18:16 PM

      Not much has changed since mid August; at least not yet. Silver has not made a new low and the silver miners are bullishly further from a new low than silver, especially the juniors which should have performed the worst if things had really taken a bearish turn.

      Silver remains on its old weekly chart MACD sell signal but is now on a new daily chart MACD sell signal. That does open the door to more immediate downside but I’m not worried about it lasting long since Thursday’s action was crash-like and therefore did a good job of ridding the market of more weak hands.

      Keep in mind that the technicals that most people follow are likely to look terrible when the low happens no matter when that is.

      SILJ has various speed line, fork and MA support just below and is short term oversold so we will likely get a decent rise very soon even if a significantly lower low is still in our future (which I still doubt).

      It is worth noting that the silver miners achieved their weekly MACD buy and sell signals weeks before silver did last year so the bullish performance divergence of the miners vs silver over the last few days should not be ignored.
      https://stockcharts.com/h-sc/ui?s=SILJ&p=W&yr=5&mn=11&dy=0&id=p63203656475&a=1028570654

        Sep 18, 2021 18:21 PM

        I wonder how the charts stack up for Bema Gold lately.

          Sep 18, 2021 18:44 PM

          Kinross purchased Bema 15 years ago.
          Kinross (KGC) is nearing the end of a big and completely normal correction…
          https://stockcharts.com/h-sc/ui?s=KGC&p=W&yr=6&mn=7&dy=0&id=p39490744557&a=1028598376

            Sep 18, 2021 18:50 PM

            I was a shareholder back in 1999. Had a very large position and it was a gangbuster money maker I was in it approximately 30 cents a share. Made at least 10 times on my money.

            DRD as well. DROOY going bankrupt I bought the shares for .75 another 10 bagger. Had a monstrous huge position.

            Sep 18, 2021 18:23 PM

            I owned Kinross had a very large position at the time including homestake that was a bought out. My timing was fairly accurate I was probably 6 months off and took a little bit of heat and then I bought more I was in all the South African shares all those every one of them. I own Barrick too. ABX they changed the symbols to GOLD recently. HMY and GFI was one of my biggest and best positions made a lot of money there probably eight times. I was 300% long all on margin on everything except for the smaller companies so I made at least 20 times on my money or more.

            Sep 18, 2021 18:14 PM

            I just started a position in Kinross recently as I like their growth profile, feel like they got over punished for the fire they had at one of their mines, and see that they have pulled back harder than most of the Majors for a more attractive entry point.

            Sep 18, 2021 18:44 PM

            KGC is always a good mover when the trend is up. It performs very well in an up market. They’re not going out of business either so you don’t have to worry about some real small cap explorer junior stock. NYSE listing so the money flows are going to be good.

        Sep 18, 2021 18:28 PM
      Sep 18, 2021 18:45 PM

      Glenfidish. Good point on the BPGDM bullish miners percentage index.

      As a reminder, back in July & August of 2020, I had pointed out how it was buried at 100, the most overbought reading and it stayed there for weeks. That was the reason I mentioned in July and August that I was taking some chips off the table as it didn’t get any more overbought than that.

      Conversely, it would make sense now to look for an oversold condition in BPGDM to scout out a bottom and the next turning point.

      > On the (BPGDM) Chart it is at 23.33, which is plenty low enough for a turn to occur, and it is oversold on the RSI, Slow Stochastics, and True Strength Index.

      https://schrts.co/HNIuBRgW

        Sep 18, 2021 18:57 PM

        BPGDM it’s true it’s in the bottoming range however it can still go as low as 5.

        So, either buy now take your chances or wait for lower prices.

        However, the crowd likes to pay a lot of money for things just like in real estate right now and stocks. It’s much more comfortable because you have a lot of company.

        I wish everyone on here was bearish. That’s when you know you’re going to make a lot of money.

          Sep 18, 2021 18:32 PM

          Some of the biggest bottoms like 2008 readings of 15-20 marked the low and although the reading couldn’t get to sub 5, on stock charts it’s showed that by the time it went below the 15 region miners were already in an uptrend. So my point in reference is that it can lag the price of the miners which is why I wisely mentioned 20 is a serious buying target.

          Glen

            Sep 18, 2021 18:45 PM

            Sounds good Glen, that’s probably about right. We are carving at a bottom I’m just thinking the end of the year but that could be wrong.

            That’s why I was telling everyone in my messages either take your chances now and buy because the prices are extremely attractive or wait till the end of the year there’s nothing else to do.

        Sep 18, 2021 18:29 PM

        Ex,

        I was definitely not signalling out you in particular or anyone just the overall tone. That’s great to know you spoke of that. Bob mentioned the importance of it many many years ago and therefore it’s is widely used as a barometer of things and a great reference point. Ive mentioned all among anything under 20 becomes serious buying for me and sharp eyes are working to kick bottoms.

        🙂

          Sep 19, 2021 19:16 AM

          That makes sense Glenfidish, and yes a sub 20 reading is a good place to start looking for a base to be build, and then a turn up in the miners. Thanks!

      Sep 18, 2021 18:31 PM

      Glen, note the pickup in volume of IAG.

        Sep 18, 2021 18:17 PM

        I saw that volume increase but it’ll be 2026 before they pour gold at their new project and IAG still must spend $1+B between now and then.

          Sep 18, 2021 18:40 PM

          There debt is manageable and they have so much cash on hand that they will be a force going forward and can easily acquire any prospects or juniors to add to there production. They sit in a very good spot and are highly leveraged to the price of gold.

          I think once this sector gets going, most miners will take off.

          Sep 18, 2021 18:50 PM

          They have a great project and are probably the cheapest midtier

          If management performance wouldn’t be so bad, I would also buy some

    Sep 18, 2021 18:18 AM

    Ya Joe, I’m not convinced of a stock market crash although anything can happen with all these dynamics playing out and many consequences of all these toxic government policies on steroids. All kinds of variables.

    I’m seeing a grind lower in the stock market and no crash. Could be completely wrong there. We could even continue up. Looks very likely though the odds are grinding lower.

    A stock market crash won’t affect these low evaluations with gold mining companies there’s very little downside left and I would expect a dramatic move to the upside if that was to occur with a stock market crash. Gold mining companies if they’re at high evaluations and they’re not at these really low levels that would be time to get out immediately they will get completely clobbered in an environment like that.

    Actually, I would be very bullish on a gold mining companies if we weren’t entering this time of year for tax selling season. Investors are going to sell because there’s just no strength in this market at all. However, that’s not 100% although the most likely outcome very high odds of this taking place.

      Joe
      Sep 18, 2021 18:28 PM

      Miners have zero upside now as the prices of the commodities they are mining is going down and the cost of everything involved with doing business is going up. Basically, they are like a candle being burned on both ends.
      Everything is now being centrally controlled, just like in China.
      We have one party rule, the Dems have cheated and cajoled their way into power and they will never give it up, ever. Any dissenters will have their lives ruined or they may be thrown in jail.
      Biden is the perfect person to have been put in for this kind of transition in America. He’s too old to care about his political future, it’s the end of the road for him. He’s clearly demented and unwilling to deal with any dissent or answer any hard questions put to him by the media. He’s the perfect tyrant, issuing dictates and mandates because that’s all he knows how to do. There is no discussion, no compromise, just strong arm tactics… and the media is right there to support him and demonize anyone who dares to disagree. This vaccine mandate is just the beginning, your rights and freedoms are no longer valued and used as incentives to submit.
      The darkest days are right ahead of us, and it will be comparable to, if not worse than, the civil war and the great depression.

        Sep 18, 2021 18:34 PM

        There’s all kinds of consequences, variables, dynamics and anything is possible.

        I’m convinced there’s going to be war on American soil don’t have a time frame it could come at any time. Those consequences are going to be a massive loss of life. One gargantuan monumental boneyard.

        BDC
        Sep 18, 2021 18:25 PM

        It’s all the same ‘party’, Joe, and we ain’t in it!

          Sep 18, 2021 18:00 PM

          💣Party On !!!!

          🔥Party Hearty🔥

    BDC
    Sep 18, 2021 18:14 PM

    No one knows the significant future. Power elites, with their black boxes, even admit that their vaunted two week outlook is occasionally wrong. It’s like herding cats.

    How best to “herd cats”? Food.

    Sep 18, 2021 18:16 PM

    A real intellect like Ben Shapiro why would he take the vaccine. Although, he’s against enforcing it.

    https://www.google.com/amp/s/www.yahoo.com/amphtml/entertainment/conservative-outlet-daily-wire-vows-150417734.html

      Sep 18, 2021 18:22 PM

      Shapiro, FOX and Trump are all part of the problem; their words prove it.
      For example:
      “He added his company will not, then said he’s pro-vaccine, believes the COVID-19 vaccines are effective and the speed at which they rolled out was “maybe Trump’s greatest achievement as president.”

        Sep 18, 2021 18:25 PM

        Ben talking out both sides of his mouth.

    Sep 18, 2021 18:28 PM

    Interesting that people brought up the BPGDM chart in the above discussion—it’s one I’ve been following closely and looked at earlier today—I wouldn’t be surprised if it settles down between 0 and 10—-I will then start to get aggressive (finally) in my purchase of a number of beaten down PM stocks.

    Sep 18, 2021 18:16 PM

    Rick Rule … On silver, interest rates , & inflation… A must watch … imo
    https://www.youtube.com/watch?v=xZ78D0S2StM

    BDC
    Sep 18, 2021 18:18 PM

    The Bell Tolls for Windmills

    “…lower wind speeds….” (8:35) https://www.youtube.com/watch?v=C4I_U5mJzzU

    Nature overwhelms another ridiculous Sancho Panza boondoggle!

    FIH
    Sep 18, 2021 18:49 PM

    I don’t think this smack has anything to do with PM fundamentals but everything to do with the monster Chinese owned stock in real estate. I think there will be another scare then they will bail out and kick the can down the road for as many months as possible. Some months ago Avi Gilbert, who I have the greatest respect for, put out a target low of $1671 which indicates a slight undercut attempting to panic weak hands and stop losses just under last low. If we bounce off $1740 range then I think low may be pushed off for another month or two. In conjunction with tax loss selling, there will probably be sensational buys in all pm stocks, in my opinion!

    Sep 18, 2021 18:34 PM

    Most Americans don’t care about graft, crime, war, control by Wall Street, or religion, or poverty. They only really care about the new life built on technology. Roads swarming with electric cars, and the latest technological advances, spending, spending, money that has been printed and handed to them. They aren’t farsighted enough to see what is going to happen. Stupid yes, but they are conditioned to be cynical by the politicians that they think they have elected.

    Sep 18, 2021 18:35 PM

    Doc,

    Thank you! Yes this is great to see and i have recently been adding to my position in iamgold! Currently my largest position and the one which I hope will lead the sector up as it did in 2008/2009

    Sep 18, 2021 18:57 PM

    IMG has very significant geopolitical exposure in West Africa. Great company though operating in West Africa is a problem and Rick Rule that was one of his best holdings I believe. I don’t know what he’s done with it I’m sure he sold it long ago now.

    Gunman held up the mines just recently. I don’t think it’s going to get any better over in West Africa. Big risk over there right now.

    https://www.reuters.com/world/africa/iamgold-suspends-convoys-burkina-faso-gold-mine-after-attack-2021-09-01/

      Sep 18, 2021 18:12 PM

      IAG correction addendum to the above message.

      I AM GOLD

      Sep 19, 2021 19:47 AM

      That’s a good point about the jurisdiction risk of IAG’s mine near the the border of Burkina Faso and Niger, and the recent attack on that convoy of staff is quite concerning. Yikes!

      _________________________________________________________________________

      IAMGOLD Suspends Operations After Attack On Convoy

      By Zachary Skidmore – 02 Sep 2021 – MiningTechnology

      https://www.mining-technology.com/mining-safety/iamgold-suspends-operations-after-attack-on-convoy

    Sep 19, 2021 19:06 AM

    Gold Markets Fall Into Support

    FX Empire – Christopher Lewis – September 17, 2021

    “Gold markets have initially tried to rally during the week but then gave back gains to crash into the $1750 level. The $1750 level of course is an area that has shown a certain amount of support previously, but the fact that we are closing at the very bottom of this range does suggest that perhaps we are getting ready to break down. Breaking down from there should open up a potential move towards the $1680 level, an area that has been massive support previously.”

    https://finance.yahoo.com/news/gold-weekly-price-forecast-gold-164151356.html

      Sep 19, 2021 19:22 AM

      Gold Struggles As Concerns About Upcoming FOMC Meeting Mount

      The Gold Forecast – Gary Wagner – Sept 17, 2021 #TechnicalAnalysis #Chart

      “This has been an extremely difficult week for gold losing approximately $36. Gold futures basis the most active December 2021 contract opened on Monday at $1790 and is currently fixed at $1753.90. ”

      “Yesterday’s meltdown of $41 in gold was a partial result of dollar strength however, that was responsible for only a small component of the decline. The primary cause of yesterday’s tumble was a direct result of the U.S. Census Bureau’s monthly sales and food services report for August 2021.”

      https://youtu.be/juE6yd28E2E

      Sep 19, 2021 19:32 PM

      Gold Technical Analysis for the Week of September 20, 2021

      by FXEmpire #VIDEO #TechnicalAnalysis #Chart

      https://youtu.be/AbCdHKwAuD4

        BDC
        Sep 20, 2021 20:41 AM

        Cool site! Thank you.

    Sep 19, 2021 19:34 AM

    Rick Rule – Silver Will Rise Again, Relax (Part 2)

    Wall Street Silver – (09/18/2021)

    “Part 2 – Rick Rule explains that he is getting very bullish on Silver with the recent declines in the price. The fundamental case for precious metals, Silver & Gold, is stronger than ever. Ricks says we are in the early stages where weak hands get shaken out of this market. ”

    https://youtu.be/xZ78D0S2StM

      Sep 19, 2021 19:25 AM

      HI HO SILVER !!!!

      Silver must, and it will, move up🚀

      ALLLLLLL ABOARD !!!

      Tickets are cheap right now. Maybe until the end of the year.

        Sep 19, 2021 19:00 PM

        I thought tickets were pretty cheap last year when Silver dove down to $11.64, and that was a nice “rocket ride” higher to $29.92 to your emoji.

        At this point, I’d just like to see Silver hold that $21.81 spike low from last September, otherwise $19 and $18 are back on the menu.

        > Silver Chart noting the prior peaks and troughs:

        https://schrts.co/VIIMiEWE

    Sep 19, 2021 19:37 AM

    Gareth Soloway – Stock Market Warning Sign: Key Trend on the S&P Breaking Down

    Jay Martin, Cambridge House – Sept 12, 2021

    “Gareth Soloway returns to the show for a market update and to discuss the major trend breakdown that could be bad news for the S&P 500. Jay and Gareth touch on the stock market, bitcoin price forecasts, the Chinese market, and the potential for a real estate correction.”

    https://youtu.be/JpmJ8eMbDPg

    Sep 19, 2021 19:36 AM

    Is anyone else concerned about the daily record-breaking Fed Reverse Repo.’s?

    Sep 19, 2021 19:46 PM

    GREEEEEEEEED !!!!! Can and will destroy an individuals finances

    Investment rule number one Uno numeral, the strategy of investing because you need to make a lot of money right away. go get a job. Maybe you are employed and you want to fulfill a dream prematurely.

    Patience is key. When you extrapolate that from the equation you’re now on the road to the broken boulevard of dreams.

    I always measure my greed influence when I enter a trade or investment. No matter how many years of experience and maybe how many winning trades we’ve had this needs to be considered first and foremost.

    In my particular case and it’s a prerequisite regardless. Measuring my greed adding to more positions in the gold space. I already have a significant core position. Currently as of today I’m in a fairly good size profit nothing spectacular. No 10 bagger. Although, there’s a great possibility as I’m witnessing past and present market action in the gold space.

    From my experience the gold market has always had monster rallies especially in the gold shares from very very depressed levels. According to my analysis we’re not there yet. Almost, but that’s not quite good enough and I know there’s a possibility of a buying opportunity towards the end of the year may not come to fruition.

    I’m convinced there’s a monster rally waiting out there and then there’s a possibility of a really good buying opportunity with approximately maybe 30% discount off today’s prices by year end.

    WHAT THE F SHOULD I DO ???????

    Should I act out of greed knowing there’s a possibility of lower prices to come. Hell no !!!!
    I already have a core position why would I want to add to more positions when I’m going to make a substantial profit anyway if the market keeps going from these lower levels into the year end. I’m very content with that. I don’t need to do anything and get greedy.

    Although, the market moves down everything I have now in profit could be affected by this. If I added new positions Merry Christmas eh.

    It’ll be a nice merry merry Christmas if I do not add to new positions in the market moves down. That’s when I plan on backing up all the semi trucks for a big monster rally next year.
    Now I’m in really great shape and end up in a very highly profitable situation with possibly 10 baggers I’ll be 300% long on margin as well helping propel myself to those heights.

    If I do nothing right now I’ll ride this bull in the next year if things take off here in the next week or two. And, I’ll still have a very very merry merry Christmas.

    IS ANYONE HERE TODAY ?

    Sep 19, 2021 19:55 PM

    LOL …SUNSHINE PROFITS… CHART ANALYSIS today Sunday before the markets open

    https://www.youtube.com/watch?v=8VFHeDn__aY

    Big Time gold bear !!! Even with gold trading around 1700 and silver way off its lows in 2016 forecasts going to test that level in GDX in 2016. Are you prepared for that bloodbath ?

    Sep 19, 2021 19:36 PM

    Holy,

    You want to know the truth? Sometimes I don’t even know how old iam lol. Not because of any medical reason probably because I juggle many things in my life including my parents, in-laws and other important family matters. Sometimes Matthew tells me I’m having a scotch or two and Jerry will always be my witness that I deserve that or more even though he is a great man and holy and tries his very best from abstaining from alcohol and in reality that should be the case!

    My point is this holy, anyone and I mean anyone who comes to me and tells me there record is 99% I have only one word to say, get lost! I will give you some leverage because you say you have been here longer then me. My dad raised me well, I respect elders and I’m 43 for the record. I’m quite fine and I’ve learned so much from Matthew and doc and Gary and ex and so many others that the fun part is I don’t care what you do. And I would never in 100 years tell anyone to get lost in fact I don’t think I have done that not even with bird lol. I can’t remember but I respect everyone’s voice..

    I’m actually glad your her holy, you have mentioned some things I do respect but quite frankly I don’t like the my shit is better then others because I don’t come from that cloth you get me?

    Glen

      Sep 19, 2021 19:03 PM

      Dang Glen….. I thought you were much older than 43….. I will give you a lot of credit which you seem much older and wiser man , from many of your past comments.
      Well, do not worry about have a few shots , while you are younger, ,,, for I am sure we have all had our share…. 🙂

      Sep 19, 2021 19:08 PM

      Thanks for the shout out Glenfidish. I’ve learned a lot from everyone here as well.

      As for Holy Grail, I believe he used to post here as Heavy Hitter back in the day, but maybe he can confirm that. If so he has been posting here for a long time.

      Speaking of forgetting about one’s age, I do that all the time and think of myself as drifting between 21 and 111. Haha!

      I’m 44 turning 45 in less than a month, so just remember I’m your elder. LOL! 🙂

      Then again, most of the folks on this site are my elder (except Cory), but I was raised in a similar way to respect the life experience and knowledge gained by all those that have been on this planet longer.

      We can all learn a great deal from others at any stage of life, and with various experience levels. Personally, I feel some of the very best questions here or at ceo.ca or on Twitter or YouTube come from Newbies.

      Cheers mate!

      Sep 19, 2021 19:30 PM

      Glenn, I’ll give you a quick briefing. I’ve never lost in a trade and I can’t remember any last 20 years or so because you don’t lose until you sell. Oh I’ve been down a couple hundred thousand dollars on significant positions however I didn’t lose anything I made money because didn’t sell. Only on paper however the trades always made money.

      When I first came on this blog briefly in November of 2013 there was a screaming buy on the gold mining companies. I entered into some huge leveraged positions and was fighting many contributors on this blog in that time frame and MATTHEW WAS THE ONLY ONE THAT WAS BULLISH. The only guy on here is that time frame and the market recovered I believe in December 2013 and we went consistently up through about July of 2014 and I got out however I didn’t make as much money as I should have. Could have made much more only make 50%. I had more than doubled my money but got out too late however I still made a lot of money. The market continued down and everyone kept refusing to give up and I said on this blog it was going to continue down that’s exactly what it did into a real blood bath.. I left the blog for a long time on and off because there was a lot of aggravation and the market just kept going down.

      All the trades/investments that I timed myself and posted on this blog all made money not one was a loser unless you sold out before and couldn’t bare the initiation entering a trade with fluctuations in the price. The majority of the trades made money right away the next day after my predictions they were always correct. I never use sell stops. Individuals that over trade that’s where all the losses come in. I don’t overtrade I’m really selective on anything I decide risking my capital on. I don’t subscribe to the investment philosophy or trading for that matter as long as you make money on majority of your trades. I don’t trade like that. My odds are at 95% and I’m prepared to take the heat and it’s going to be a winner every single time every single time. That’s because I’m highly confident that eventually I’m going to be right within a certain amount of time and it’s usually no more than about 4 weeks. Although, I have been in positions for no more than 6 months before I’m actually making a profit. Those kind of trades have been decades ago and I’m much more selective and cautious.

      Glen you want to make up excuses for your malicious attitude towards me and Michael Oliver I think you’re greatly mistaken. That was your oversight because you miscalculated all your comments and it was complete BS. Your smear campaigns are not going to be tolerated.

      I’m not going to be lectured by a rookie trader. Any analysis and comments you want to share on his blog that’s fine with me but I’m done with your smear campaigns Glen.

    Sep 19, 2021 19:42 PM

    Moving on!

    Gold update!

    I don’t think we are breaking lower because of many reasons. Glen is going to tell you all, timeline and events tell me if we were to break the all time low, it would have happened long ago. This is a major reason why Matthew challenged not just me but Many others that the low was in with gold and miners were in fact diverging and I agree 100%.

    Matthew also mentioned these are blessing prices or he may have termed them differently and ex agreed! I agree this is going to pop very soon! I think many will be waiting for December sell off and the low is this month!

    Glen

      Sep 19, 2021 19:25 PM

      Good points Glenfidish. Yes, I did consider the big move down on Thursday and the follow through down on Friday a blessing in a sense, just like most pullbacks are in a larger bull market. I was definitely on the bid both days in Gold and Silver stocks with some newly minted Uranium mining profits, with 22 trades on Thursday and 8 trades on Friday (not every one of those were PM related, but the majority were).

      In addition, on both days there was some more horse trading with stocks in my portfolio, and mentioned to David on Thursday that I’ve consolidated down the number of stocks by almost 1/3 in my portfolio in 2021 compared to 2020, opting for more concentrated positions in my favorite horses to ride. Giddyup!

        Sep 19, 2021 19:57 PM

        Aussue U miners -13% Monday AM

          Sep 19, 2021 19:50 PM

          Yeah, a pullback in the Uranium stocks was overdue as noted at the top of the blog.

          Glad I pulled most of the profits out earlier last week, although I did nibble a bit on Friday to take me from 15% to 25% positioned. If we get a really nice smack down in the U stocks for a day or two, I’ll add some more back, as I do feel under-allocated at present.

            Sep 20, 2021 20:00 AM

            Yep, looks like Uranium stocks are going to be under pressure again today, so I may do a little more nibbling and keep adding more back at significantly lower prices than I trimmed at last week. By the end of today I may take the positions from 25% to roughly 33%, moving them to 1/3 of my desired position sizing.

            Sep 20, 2021 20:41 PM

            So with many U stocks down double-digits today, I added more and took my Uranium stock portfolio back up to 1/3 positions. These last 2 weeks have been fantastic, in that the gains were easy to harvest the beginning of last week, but I was concerned they’d just keep running and take a while to correct down 15-20%. Instead by Friday I was nibbling, after they had corrected on Thu & Fri, and then today on Monday added more as they already corrected down to my target buy prices again. The swing trading in these Uranium stocks has been epic, and congrats to the resource investors that harvested nice gains last week, and good luck to any contrarians buying into the weakness today.

    Sep 19, 2021 19:48 PM

    The readings are screaming, the banks and hedge funds have names aborted us and are stealing from the poor, glen assures you all buy buy buy into this dip!

    Don’t let them outsmart this community in here led by some smart people 🙂

    Not sure were i stand but I feel good telling everyone there going to reverse the trade very shortly and it will come swift and v bottom when many in here including doc sorry doc and others said it would fly from the bottom! I’m tact I think we can pop to $1900 fairly easy when we move. Have you heard that from and site or YouTube?

    Nope

    Glen

      Sep 19, 2021 19:13 PM

      Glen, we’ll good !!!! That suits me fine I’ll make a lot of money either way. And lets bury the hatchet. I don’t mind aggressive comments as long as they’re not a directed to anyone person. Unless of course there’s reason to and we need to do our due diligence before we start busting someone’s chops. Fair enough !!!! k, that’s not asking too much.

    Sep 19, 2021 19:49 PM

    Sorry for grammar!

    It’s coming from cell phone.. doc you mentioned rounding bottom I think it will be v sharp fast low and explosive up..

    Glen

    Sep 19, 2021 19:34 PM

    My 4 bits
    Bullish sentiment for gold is as low as it’s been only three times before during the past three years, each time coincident with a low in price.
    I’m nibbling now

    Sep 19, 2021 19:17 PM

    Stocks rocketed and gold stock crushed since 2020 Aug.

    Sep 19, 2021 19:20 PM

    Pre-Fed meeting attack started already. Some guy in Transylvania decided to unload all his metals paper contracts at the same time through his broker in Borneo. Or maybe it was JP Morgan. One or the other as my transparency crystal ball has a film of slime all over it.
    Taking aspirin and will call my Doctor in the morning for a therapy session. 😎

      Sep 19, 2021 19:47 PM

      Good one David! “Some guy in Transylvania….” Haha!

        Sep 19, 2021 19:46 PM

        As for it being a Fedbabble week, I’m anticipating continued pressure in the PMs in the early part of the week, but wonder if the meeting on Wednesday may prompt a reversal after that for a better Thursday and Friday next week (at least better than this last Thursday and Friday – ha!)

        Sep 20, 2021 20:44 AM

        The Gold Fairy got off her backend and finally intervened a little before open. Go figure…it’s Monday.

        Sep 20, 2021 20:50 AM

        Uh-oh…A bunch of “ted” out there in the land of the Gods. This is going to be interesting today!!!! ????

        Sep 20, 2021 20:53 AM

        “ted” = “red”
        Been so long since Dow was red, I forgot it started with a “r”.

          Sep 20, 2021 20:01 AM

          glad to see a little ted….. concern… is on the table….

    Sep 19, 2021 19:30 PM

    9 minutes with Dr. Ryan Cole (don’t miss the last couple of minutes for some eye-opening figures about treated patients):
    https://rumble.com/vmifxd-fda-officials-stepping-down-as-administration-steps-in.html

    Sep 19, 2021 19:02 PM

    Gary Savage is done with mining stocks. He’s stacking silver for the $250 top in silver when it comes. We can still have a down turn to about $17 possibly and so it’s so volatile that’s why he’s stacking silver it’s not worth playing the game anymore. Reason, because it’s not easy to trade your silver when it’s in your possession you won’t want to trade it like the paper.

    STACK EM HIGH….. STACK STACK STACK

    That’s a lot of weight. The midnight gardner likes gold.

      Sep 20, 2021 20:55 AM

      when they come, ….it is hard to travel lite with a ton of silver… lol….. 🙂

        Sep 20, 2021 20:14 AM

        Silver at $250…. gold will be $7500…. at 30/1 ratio…. 🙂
        BUt…… if , at 70/1……… GOLD will be $17,500…… 🙂

        Sep 20, 2021 20:58 AM

        Actually, I like diamonds for concentrated wealth. They weren’t so difficult to grade and a lot of times you can’t tell the difference between a real one and a fake one. Really rough times it’s going to be hard to deal with diamonds with no expertise possibly around.

        As far as investment goes and appreciation maybe not so lucrative either. Too bad, can you imagine you can be carrying around a few million dollars with less space in your pocket than carrying around a few dimes.

        If someone wanted to move around money temporarily crossing borders etc or whatever that would be the way to do it if you could sell them for around what you paid for them buying them wholesale. Purchasing them is a problem and getting out of them without taking a big loss. Esoteric really high valued rare coins could be another option however they’re not easy to sell either takes months to get them into a really good auction. Prices can fluctuate greatly too.

        You know what the midnight gardener is thinking.

          Sep 20, 2021 20:36 AM

          Diamonds…. are not bad , but, hard to train the kids, so they do not get ripped off…
          the three “c”s… are like three blind mice…. takes a lot of experience…. jmo…
          In your later years as your eye sight become hindered, might become and issue… 🙂

            Sep 20, 2021 20:37 AM

            and to an… .. humm bad eye sight…. lol….

            Sep 20, 2021 20:52 AM

            Very true that’s why I said you need an expert a geologist that can determine the quality of the diamond that’s a big disadvantage especially when society starts falling apart.

            If I was going to turn some serious money into diamonds I would buy upper quality one carat rounds. Easily sold and traded with the help of geologists though. You could park a couple million dollars easily that fits in the size of a couple quarters rolling around your pocket.

            You can hide them too and nobody’s ever going to be able to find them I don’t care who they are they’ll never find those diamonds but when you have gold and silver that’s another story that’s why diamonds are good. You had to escape somewhere no problem you’re not going to be carrying anything heavy it’s absolutely nothing and gold is even way too heavy and silver forget it. Just depends on the situation. The best form of concentrated wealth just depends on the circumstances.

            Sep 20, 2021 20:00 AM

            Buying quality……. never hurts… , unless you over pay…. 🙂

            Sep 20, 2021 20:04 AM

            My name is JOSE😎

            I NO PAY !!!!!

            Sep 20, 2021 20:04 AM

            You have a good point on the weight issue….

            Sep 20, 2021 20:45 AM

            It’s the way to go however you got to deal with all the disadvantages. There’s a lot of huge advantages too. Theft resistant and these concrete under ground safes are easily found so that’s a real joke. Even if you have two of them and one you have all the good stuff in it and the other one you keep that for the ones that come in and say where is your safe and you open it up and there’s just a few things in there.

            I’m more concerned with the spreads if they’re any more than 10 or 15% and of course the fluctuations and who knows what they’re going to be worth when you go to sell them so that’s not very lucrative as far as appreciation either.

            I guess, maybe anything could be better than gold the way things are going around here. As far as appreciation goes. I never did a long-term comparison diamonds might be way far ahead of gold as far as appreciation. Then you have to account for the spreads whatever that might be.

            We’ll, the one carat rounds in a higher decent quality is the way I would go. Fairly liquid. Just all the parties have to meet with the geologist of high reputation and you can cut a deal real quick. In times of trouble that may not be possible or you can just sell them back to the same place where you bought them if they’re going to give you a good price. If they’re even in business with turbulent times ahead.

    Sep 20, 2021 20:23 AM

    BOB MORIARTY doesn’t look good for the next several months for gold and silver. Liquidity crisis. Suggests putting in stink bids for gold mining shares.

    https://www.youtube.com/watch?v=If5_w_mJdLw

    At the 15 minute mark.

    Why do you think I’m hesitant this whole market is not passing the smell test at all. Much better prices could be coming and it’s a highly likely possibility.

    THIS BLOG CAN BE DANGEROUS. THERE’S A CONSISTENT PERMA GOLD BULLISH ATTITUDE ALL THE TIME BY ALL THE SAME CONTRIBUTORS.

    Nothing matters to anyone in here sometimes I just can’t believe it. Tax last selling seasons here too no big deal just party on. No, this is the bottom this is the bottom it may not come till December. At much lower lower prices. Of course, this could be wrong however everything is just being glossed over, perma bulls on steroids. I’m definitely not in that club. Lower prices are a big possibility by December there’s no doubt about it. That could be wrong however there’s a big possibility. Go for it perma bulls many here insisted in 2014 was going to keep going up after the correction and all it did was go into a complete bloodbath. I got out way before with a good size profit and the bulls just keep on running straight off a cliff going into 2016. I’m waiting till year end I’m not convinced of any bottom right now at all.

      Sep 20, 2021 20:05 AM

      Dollar up….Santa Claus resigns…

        Sep 20, 2021 20:10 AM

        Oil down,…. Santa’s train about to come to a stop….

          Sep 20, 2021 20:46 AM

          Told Santa last year to get one of those Tesla 18 wheelers but “no”…

      Ann
      Sep 20, 2021 20:34 AM

      Really enjoyed the clip with B.M. Thanks Holy G.

        Sep 20, 2021 20:39 AM

        Ann, here’s another one out today. We’ll see what happens. Too many people are predicting a crash. The odds are lowered. No enthusiasm here to short the stock indices. However, there’s a crash out there waiting to happen. BM discusses some more thoughts in the gold space as well.

        http://www.321gold.com/editorials/moriarty/moriarty092021.html

    BDC
    Sep 20, 2021 20:19 AM

    Price Quality Weekly Wrap: https://tinyurl.com/2vc9pznu
    PMs: Just what the Doctor ordered. What medicine?
    PGMs: Attempted bottom being stifled by markets.
    Uranium: Trend has ended. Will windmills win?
    GLD/SLV dropped. Royalty FNV/WPM added.

    Sep 20, 2021 20:40 AM

    ironic that the more they pump silver, the more it underperforms gold, gary savage included. Gotta be contrary to the contrariants. LOL
    Same old, until proven otherwise. mid morning action in gold and then a flounder rest of day with slippery slope of hope.

      BDC
      Sep 20, 2021 20:53 AM

      “Rope a Dope!”

    BDC
    Sep 20, 2021 20:05 AM

    Wesdome approaching target area : https://tinyurl.com/duk5ba6f

      Sep 20, 2021 20:55 PM

      I’ve been watching Wesdome to see if it will finally break down again. If it does I plan on scooping some up, but it has held up much better than most of the other mining stocks, so hard not to look to the ones that got more beaten down instead, for a potential reversal in trend that will eventually come. Still, I remain hopeful that one day Wesdome will give up the fight and have a waterfall decline, and I’ll be waiting to snap some up.

    Sep 20, 2021 20:47 AM

    Cash settled so picked up some Labrador and Group Ten at open.

      Sep 20, 2021 20:54 AM

      Labrador already hit it average daily volume

      Sep 20, 2021 20:00 AM

      Labrador was wandering around outside its lower Bollinger Band. Doc said to look for those.

    Sep 20, 2021 20:19 AM
      Sep 20, 2021 20:35 AM

      Cryptos are proving they’re no hedge like some claim. Bleeding badly when the stock market is down.

      I know of a extremely wealthy block chain creator crypto expert out there and he claims that Bitcoin will see probably $5,000 to $10,000 valuations. This forecast was made about 6 weeks ago. We’ll see what happens. I have no idea however this guy is extremely extremely brilliant. He’s capable of a drawing circles around anyone.

        Sep 20, 2021 20:07 AM

        If, it goes to $5000…… it is going to zero… 🙂 JMO

          Sep 20, 2021 20:15 PM

          We’ll good !!!! I have no love for Bitcon. It’s a worthless bubble.

          This is what it’s worth -000-. No opinions, that’s a fact.

          Call it belligerent however it never deserved a $60,000 handle.

          No apologies for the arrogance. I’m being very reasonable.

          With J POW in the equation enraged and extremely appalled.

            Sep 20, 2021 20:59 PM

            Well…. Ok… 🙂 .. I would have to agree…

            Sep 20, 2021 20:06 PM

            We’ll, if you agree just keep your anger contained to bitcon.

            “Do not” wish it Godspeed.

            It’s needs to go bye-bye. Bitcon flushed because it’s a real POS.

            Bitcon now it’s in the pipe headed to the sewer.

            NOT GOING TO BE MISSED

            Sep 20, 2021 20:35 PM

            Bitcon, needs to go bye, bye … that is for sure…

            Sep 20, 2021 20:18 PM

            If you give it a push, I don’t mind.

            Sep 20, 2021 20:26 PM

            I hate to be pushy…. 🙂 But,… then again…

            Sep 20, 2021 20:47 PM

            Ha Ha

            We’ll here, I’ll be more than happy to give you a hand.

            If you’re nice, maybe two hands 🤚🤚

    Sep 20, 2021 20:44 AM

    Stocks are likely to fall versus gold for many months to come.
    https://stockcharts.com/h-sc/ui?s=%24COMPQ%3AGLD&p=W&yr=5&mn=11&dy=0&id=p71931609535&a=1029504727

    Sep 20, 2021 20:44 AM

    Barrick right now is bucking the trend it’s up not by much however it’s not down like almost all the gold equities.

      Sep 21, 2021 21:58 AM

      Mattew…
      Ramby dumped all his initial positions in the PM’s last week….now taking second positions in DUST, JDUST
      He describes the situation as a “critical inflection point”
      Gold is trading vs its 10 and 20 month ema which are strongly being tested right now”

      Torture!!!!!

        Sep 21, 2021 21:34 AM

        Thanks Confused. I can see why he did that and he’s right that the situation is critical but I believe he was premature with the bearish positioning.

          Sep 21, 2021 21:01 PM

          Matt…he just put in his final 3 positions in DUST, JDUST…..wow
          also taking intial positions in TNA and TQQQ…..

            Sep 21, 2021 21:34 PM

            Thanks for the update and details. I bought more today since it seems like the bears are spent for at least the short term but it is possible that the Fed might give Rambus what he needs tomorrow.

    Sep 20, 2021 20:55 AM
    Sep 20, 2021 20:27 AM

    nasdaq down 2% or so, most silver/gold producers the same and more than twice amt in many cases, and that’s with gold up.

    Sep 20, 2021 20:32 AM

    market telling Powell to do the right thing on Wednesday, or else…….

      Sep 20, 2021 20:57 AM

      And the “right thing” …whatever is best for the banks…