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Markets and Metals – Volatility and Indecision Continues

Cory댊
October 9, 2021
Full Weekend Show

On this Weekend’s Show we focus on the recent volatility in markets, metals, and economic data. The last quarter of this year is looking very volatile.

Keep in touch with us through email. We love hearing all of your thoughts on the companies we are interviewing and topics you would like to hear on the show. Our email addresses are Fleck@kereport.com and Shad@kereport.com.

  • Segment 1 and 2 – Mike Larson, Editor of The Safe Money Report kicks off the show with a focus on the volatility this week in US markets, the rising US Dollar, and the general commodity complex. We focus on Mike investment strategy moving through the end of the year.
  • Segment 3 – Marc Chandler, Managing Partner at Bannockburn Global ForEx is up next discussing the balance between rising oil prices and the mixed jobs data from Friday. What this all means for inflation, the economy, and future Fed policy.
  • Segment 4 – Jayant Bhandari, Private Investor and Consultant wraps up the show by sharing a couple resource stocks he is investing currently. He starts with an arbitrage opportunity and a prospect generator that has been sold off.

Exclusive Company Interviews This Week


Mike Larson
Marc Chandler
Jayant Bhandari
Discussion
59 Comments
    Oct 09, 2021 09:09 AM

    Gold, what is it good for? Zijin Mining(2899:HK, ZIJMF) made a cash offer of 960M CAD for Neo Lithium(NLC:V). Does anybody besides maybe Ex have a piece of it?

    Reply
    Oct 09, 2021 09:23 AM

    Thanks to all the KE Report contributors for another great week of daily editorials, company interviews, and another solid weekend show. It is really nice to have Mike, Marc, and Jayant as our guest commentators this weekend.

    > Also a very big thanks to all our listeners and to those that contribute their insights to the KER blog day in and day out, because we appreciate your participation.
    Ever Upward!

    Reply
    Oct 09, 2021 09:31 AM

    Rick Rule Warns, “A Day of Reckoning is Coming”

    I Love Prosperity w/ Jake Ducey – Oct 7, 2021

    “Rick Rule warns that the path we are on is totally unsustainable. He declares that it may not be imminent, but it is definitely inevitable that we face a day of reckoning. Rick also shares his opinions on some of the best advice for investors and what we can do to prepare ourselves moving forward.

    https://youtu.be/SfJynJkSk-A

    Reply
      Oct 09, 2021 09:35 AM

      Galen McNamara: This Could Change Everything In Gold & Silver

      I Love Prosperity w/ Jake Ducey – Oct 6, 2021

      “In this video, we talk to Galen about Silver and Gold. He shares why he believes that Silver is entering the period of a perfect storm. We talk about how he thinks Silver will outperform Gold, why he decided to focus specifically on Silver vs Gold, and how he believes that all of the energy and renewable work will effect silver. We discuss Silver mining stocks and his company Summa Silver.”

      https://youtu.be/-ioKQR-MDzw

      Reply
        Ann
        Oct 09, 2021 09:57 AM

        A great listen.. Thankyou Ex…

        Reply
          Oct 09, 2021 09:43 AM

          Agreed Ann. Both Rick and Galen are sharp guys. We had both on the show just last week, and learned a great deal from them.

          The 5 things investors can do to prepare for the future was a particularly valuable part of the discussion up above from Rick with Jake.

          The points about the shortage of actual silver or copper or many industrial metals for the coming and stated demands from industry and fabrication was a highlight of the chat with Galen and Jake.

          Both of those were fantastic conversations and Jake does a good job of drawing out of his guests really great insights.

          Cheers!

          Reply
      Oct 09, 2021 09:02 AM

      Someone somewhere said that prophecy at it’s best is a very hazardous occupation. While listening to what many in the financial community are saying it seems that we are living in a nightmare similar to what happens when you have a bad dream. Most forecasters don’t have a clue about what is going on with the economy there are just too many signals that don’t make sense.

      Are things going to get better or worse? More wizards are leaning towards the worst case scenario these days, uncertainty is a real deal maker. A bullish statement can’t be trusted because few men want to take the responsibility of spreading alarm by making dire predictions. Besides most people who are involved in predictions are investors/speculators who have a lot of wealth invested in the market. Nevertheless business and the economy are in serious trouble. Market values should reflect how sound the economy is, but today that isn’t the case.

      Reply
      Oct 09, 2021 09:29 PM

      Cash Will Be Vital During Days of “Dramatic Reckoning” Warns Rick Rule

      Stansberry Research – Oct 5, 2021

      “Investors are ignoring the arithmetic and evidence around inflation and have been conditioned to do so for the last four decades,” says Rick Rule, Founder and CEO of Rule Investment Media.

      He tells our Daniela Cambone that the Fed is between, “a rock and hard spot,” because of the very low interest rates they’ve promulgated. The former CEO of Sprott U.S. Holdings believes that gold does not have to win the war against crypto or the dollar, “it just needs to lose the war less badly.”

      “Rule asserts that there is plenty of space for both precious metals and cryptos, and that they serve very different functions.”

      https://youtu.be/DPuH-OjilW0

      Reply
        Oct 09, 2021 09:14 PM

        Hi Ex, about ten years ago I considered buying US farmland in Nebraska, that never happened but it has for Rick Rule. Interesting to say the most. There are always opportunities in life. DT

        Reply
          Oct 09, 2021 09:03 PM

          Yes, there are a number of wealthy individuals and financial institutions buying up farmland as a store of value.

          People need to eat!

          On a related note, we featured an organic food company earlier this week called Organto. They are supplying fruits and vegetables and herbs mostly to Europe. I’ve got a small position going in them as a play on soft commodities, and because they’ve been executing on their growth initiatives.

          I’ve also considered revisiting the fertilizer space for agricultural commodities.

          Reply
    BDC
    Oct 09, 2021 09:27 AM

    Mike Larson: “Kick the can.” Yes, again:
    https://saturationtiming.blogspot.com/2021/10/dollar-this-week.html

    Reply
      Oct 09, 2021 09:00 AM

      Yes, to Mike’s point, if the markets currently at key inflection points break down further, it would not surprise anyone to see Powell and the Fed “kick the can” down the road once again.

      Reply
        BDC
        Oct 09, 2021 09:54 AM

        I laughed every time he repeated it,
        having put that update out yesterday.

        Reply
    Oct 09, 2021 09:58 AM

    Clif High which I don’t believe is his real name has predicted using his big data computer programming machine that silver will have a meteoric rise to $600. Irish Tony, if you are out there you will really like this video where Clif talks about WHY? He makes a lot of accurate predictions based on AI. I hope you all enjoy this,………………..

    https://www.youtube.com/watch?v=wMfuoBz2y-4

    Reply
      Ann
      Oct 09, 2021 09:24 AM

      Hi DT… yes ..I enjoyed the clip immensely.I can’t comment or have an opinion on his prediction accuracy because I am not really familiar with his work.

      Reply
        Oct 09, 2021 09:41 AM

        Hi Ann, we talked a little about Clif High last week on this blog, he makes a lot of accurate predictions on many different subjects using artificial Intelligence through a computer program that he has been working on for almost 25 years. It is only the last two years that he has become more mainstream.

        Reply
      Oct 09, 2021 09:35 PM

      Clif goes even farther out on a limb in his latest work on Bitchute : Woo FLUX released 9/08
      . He is a convincing character, entertaining and a very, very perspective

      Reply
    Ann
    Oct 09, 2021 09:50 AM

    Thanks DT.. Trying to catch up on what’s been going on this past week.I’ll go back and try to find some posts regarding Cliff High.

    Reply
    BDC
    Oct 09, 2021 09:29 AM

    STATS Update:

    In STATS Price Quality (SPQ) the related Index or ETF is the indicator of choice, with few exceptions. Not being useful as such, yesterday the experimental GOLD, NEM, FNV and WPM were eliminated to increase clarity. However, as individual securities they may still be monitored.

    It was largely because of them that I did not immediately signal a likely trend change on September 30th, via light ‘charcoal’ coloration (see October 11th) or even the medium variety (see XAU, SIL and SILJ, in their case due to head-fakes). Dark charcoal means certitude.

    This morning GDM was added to the mix and appears to be a most worthy addition. Beta testing is close to completion.

    Current SPQ: https://tinyurl.com/2vc9pznu

    Reply
    Oct 09, 2021 09:45 AM

    SPUT has made a significant pullback and appears to be close to a bottom. It may be worth taking a look next week for a decent entry point. Overall the uranium market looks choppy.

    Reply
      Oct 09, 2021 09:46 PM

      Good point Jetty. We had Steve Penny on earlier in the week that pointed out how the Uranium stocks had corrected back down close to the support level, from where they gapped up higher in the most recent surge of the larger bull market move.

      We’ll be featuring a talk from Justin Huhn of Uranium Insider on Monday, and he addressed the buying by (SPUT) the Sprott Physical Uranium Trust, and that on the OTC side of things (SRUUF) was blocked from being purchased by some technical form required, so only selling was allowed. [We know how a similar scenario affected the meme stocks like Gamestop and AMC when brokerages only allowed selling but no buying, and it seems a bit sinister actually]. A trading halt would have been more appropriate than only allowing liquidation… but I digress.

      Regardless, (SPUT) is also applying for US Big Board NYSE listing, and if that happens, it will really open the floodgates for tapping into the much larger capital pools in the US markets; compared to just the Canadian markets. The advantage the Sprott Physical Uranium Trust has over the Uranium Participation Corp vehicle that it acquired, is that whenever the trust if trading at a premium to NAV then it can purchase more uranium from the spot markets, and still has been even though it has pulled back over the last few weeks. When things inevitably turn back up in the Uranium sector, the (SPUT) will continue to be a force to be reckoned with in the spot markets as the prime buyer now. This will force utility companies back to the table with Uranium miners to set up longer-term off-take agreements in the mid $50s to $60s, and that should bring some production back online.

      This correction has been very healthy for the longer term bull market in the Uranium space, and I was worried it may go too overly parabolic if it hadn’t shaken the tree and knocked some of the froth out of the sector. Also, I was able to mostly cash out near the highs, and have been buying back into the correction at much better prices, so it has been a wonderful swing trade for this year.

      Personally, I sold 85% of my 7 Uranium stocks positions between Sept 10 – Sept 15th, (with the vast majority of the positions sold on the 13th, 14th, and 15th) The whole space was hitting a mania and getting frothy, and I was worried about potentially selling too early in a parabolic move, but wanted to the book the profits, as the U308 stocks had already made a huge run prior to the most recent surge.

      My thought at the time was that I’d watch for 15-20% correct in the uranium miners, and figured it would take a month or two for them to cool back off and correct back down. However, by merely a week later they were already down that much, so I started nibbling back on Sept 20th, and have been chipping away at adding them back since then especially on red day.

      As of Friday, I’m back up to 60% positions in 7 Uranium stocks (UUUU) Energy Fuels, (URG) Ur-Energy, (DNN) Denison, (UEC) Uranium Energy Corp, (NXE) NexGen Energy, (AZZ) Azarga Uranium [merging with enCore Energy], (PTU) Purepoint Uranium. I’d still like to see a bit more of a corrective move, to keep adding but I’m getting the sense that the next upleg is getting closer to starting, bouncing off the gap support, but at least I’ve got a seat at the table again, so bring it on!

      Ever Upward!

      Reply
    Oct 09, 2021 09:04 PM

    Does the Fed Have the Will to Fight Inflation?

    By Jason De Sena Trennert – Oct. 3, 202 – Wall Street Journal

    “It might seem a mystery why investors would accept a negative real return on what is considered the closest thing in the world to a risk-free asset. The answer has a lot to do with the Federal Reserve’s continuing purchase of Treasury bonds, along with the $13 trillion in negative-yielding sovereign debt outstanding globally. In that context, the thinking goes, lending money to Uncle Sam for the next 10 years at 1.5% isn’t that bad a deal.”

    “The Fed’s policy of quantitative easing injures middle-class savers. People without financial assets get kneecapped by the policy known as “financial repression”—purposefully attempting to pay for government spending by keeping interest rates below the rate of inflation. This policy has been a boon for the wealthy but a disaster for average people, who earn no return at all on their savings.”

    “While the Fed has talked about slowing down the pace of its asset purchases (known colloquially as tapering), it is important to remember that it is still technically easing. This leads us to wonder whether the Fed can actually raise rates again without significant pain and major dislocations in the global economy.”

    “Real tightening could pose risks to the economy and, in turn, to the central bank’s independence.”

    https://tinyurl.com/5tauzwph

    Reply
    Oct 09, 2021 09:08 PM

    Is The Stock Market Starting To Discount An Earnings Recession?

    Jesse Felder – October 6, 2021

    “Earnings growth has been terrific over the past several quarters, proving a strong tailwind for stock prices. For astute market watchers, however, this should not come as any surprise. The decline in interest rates, oil prices and the dollar over the past couple of years, in fact, predicted it. As a group, these markets have proven for decades now to be a far better forecaster of S&P 500 earnings growth than any analyst on Wall Street.”

    “With inflation pressures continuing to rise even as record amounts of fiscal stimulus begin to wear off and the economy clearly slows, however, an earnings recession over the next several quarters should also come as no surprise. In fact, that is exactly what the recent action in interest rates, oil prices and the dollar now point to. Considering valuations are more extreme than ever before and investors are also more highly leveraged than any other time in the past, a shifting in this fundamental driver of stock prices from tailwind to headwind should be something investors pay close attention to.”

    https://thefelderreport.com/2021/10/06/is-the-stock-market-starting-to-discount-an-earnings-recession/

    Reply
    Oct 09, 2021 09:11 PM

    Ira Epstein’s Metals #Video (10/7/2021)

    #TechnicalAnalysis #Chart Gold, Silver, Copper, Platinum

    https://youtu.be/02jymdDBMWQ

    Reply
    Oct 09, 2021 09:22 PM

    Bombed Out Gold Stocks Showing Relative Strength to the Metal

    David Erfle – Friday October 8th, 2021

    https://mailchi.mp/a08989b25908/david-erfle-weekly-gold-miner-sector-op-ed-1600158?e=3ac1473fe4

    Reply
      Oct 09, 2021 09:26 PM

      Today’s Chart: This Gold Bull Market Has Years To Run

      Oct. 05, 2021 – John Rubino – Seeking Alpha

      “The recent back-and-forth precious metals action has left a lot of people frustrated with both the metal and the “permabulls” in this space. Fair enough. Gold has almost doubled from its 2015 low, but it’s done so in a really boring way, which is the ultimate crime in the blow-off stage of a financial bubble when so many other things are going parabolic.”

      “But history says that the real action is still to come. The following chart shows the past century’s gold bull markets, most of which make the current bull market look like a virtual newborn…”

      https://tinyurl.com/wf3f9b94

      Reply
    Oct 09, 2021 09:27 PM

    Precious Metals Royalty And Streaming Companies: The September Report

    Oct. 05, 2021 – Peter Arendas – Seeking Alpha

    https://tinyurl.com/4ucwbjbz

    Reply
    Oct 09, 2021 09:33 PM

    The gold-silver ratio looks due for a pullback (which is good for the sector)…
    https://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24SILVER&p=D&yr=1&mn=5&dy=0&id=p97333882565&a=639925543

    Reply
    Oct 09, 2021 09:52 PM

    Ex, I’m still not convinced that you are a human, I think you are either a cyborg or you have many doubles. People that have that much energy and intelligence tend to burn out by the time they reach their 60’s. LOL! DT

    Reply
      Oct 09, 2021 09:00 PM

      Ex, I know your not sixty, but I’m just saying! DT

      Reply
        Oct 09, 2021 09:43 PM

        That feedback is very much appreciated DT. I do pour a lot of time and energy into things, and at times do start feeling a bit burnt out, but having a strong inner desire and reasons (ie. the fire within) that motivate one to keep rowing the boat do help out.

        Cheers buddy!

        Reply
          Oct 09, 2021 09:53 PM

          They will dive to depths of 400ft. looking for a fish and they will do this as many as 200 times/day.

          Reply
      Oct 09, 2021 09:48 PM

      Tenacity and perseverance of a penguin.

      Reply
      Oct 10, 2021 10:34 PM

      Ex:
      Do you still need that case of Mobil One?

      Reply
        Oct 10, 2021 10:22 PM

        OK you guys got me figured out…

        Sure, I’m an android, but was sent here to help protect humanity from the bad robots, as a blade runner. Working here in the mining stocks at the KER is my cover because I’m interested in the raw materials that build new silicon based consciousness, and that Mobile One is getting pricey with inflation, so it’s led to robot speculation.

        Let’s keep all of this on the down low though…

        https://youtu.be/gCcx85zbxz4?t=7

        Reply
    Oct 10, 2021 10:13 PM

    (CXB) Calibre Mining Stock: Growth At A Reasonable Price

    Oct. 10, 2021 – T.D. – Seeking Alpha

    – Calibre Mining is one of the hardest-hit names since last fall, sliding ~55% from its November 2020 highs.
    – However, the fundamentals have only improved since then, with production up meaningfully, Calibre tracking well vs. guidance & the potential for a 4th ‘spoke’ by 2024.
    – This 4th spoke for its Hub & Spoke Model will be Eastern Borosi, which could push annual production to ~240,000 ounces per annum by FY2024.
    – At a fully-diluted enterprise value of ~$360 million at US$1.12 per share, Calibre trades at less than 1.2x FY2022 revenue estimates & less than $100/oz on resources, offering growth at a very reasonable price.

    https://seekingalpha.com/article/4459260-calibre-mining-growth-at-a-reasonable-price

    Reply
    Oct 10, 2021 10:56 PM

    Jim Grant: Evergrande Is a Systemic Risk But Inflation Is Biggest Risk

    Taps Coogan – October 7th, 2021

    “Evergrande was characteristic of the Chinese economy broadly. The Chinese economy is enormously levered… Chinese banking assets represent something like 53% of the… estimate for world GDP, not Chinese GDP… Slightly more than half of world GDP. This is right now. (Evergrande) seemed like the perfect model for what’s wrong with China…”

    “Something like 22% of Chinese real-estate is unoccupied… The Chinese economy to an important extent is driven by real-estate speculation.”

    “The underlying moral problem with inflation is something for nothing. It is a form of theft, a form of unlegislated taxation… House prices are up 18% year-over-year. How can that not be inflation? …Inflation is the greatest single risk that viewers of Wealth Track confront and it’s not just that they’re going to be skinned alive at the grocery store. It’s that interest rates are a key determinant of the valuation of every single earning asset… They are the critical prices in capitalism and they have been suppressed… by central banks actions.”

    “So to an important degree, the value of everything in the portfolio of your viewers hangs by the thread of the lowest interest rates in 4,000 years, rates which are not anything but the product of central bank manipulation to the downside. Now what changes the structure of rates? What lifts them could be… an inflation that persists, that frightens the Fed… and they start to move rates up and then stock prices fall and they say ‘Uhhh.’ The Fed has a very low threshold of financial pain. So what then? Rising rates and a falling stock market, this is a whole new panorama of possibilities…”

    https://thesoundingline.com/jim-grant-evergrande-is-a-systemic-risk-but-inflation-is-biggest-risk/

    Reply
      Oct 13, 2021 13:30 AM

      Also what he said recently on Welathtrack w. Consuelo Mack.

      Reply
    cfs
    Oct 11, 2021 11:33 PM

    I’m not sure your time stamp is working in politics.

    Reply
    Oct 12, 2021 12:15 AM

    more of the same. HL particular weak with gold up, silver the weak link

    Reply
    Oct 13, 2021 13:50 AM

    Not sure where to put this but bought some HighGold this AM after more good drill results and added to Provenance as right at the end of the Korelin Interview the CEO said that people will be pleased with upcoming drill report.

    Reply

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