A divergence between gold and silver and comments on crude
After Rick’s bullish comments on silver yesterday he wanted to point out a divergence between gold and silver he spotted. Overall gold still has more to prove to him. We also touch on crude in terms of where he sees price going through this year.
Click download link to listen on this device: Download Show
read at zerohedge
22 hours to go……………
oops………………..19 hrs to go…………..
https://youtu.be/wd47i6UBv9w
Bix Weir
Just as a reminder to the #Silver #Lead #Zinc investors that Americas Silver Corp just started trading today under their brand new Dual-Listing on the NYSE MKT LLC under the symbol $USAS
The $USA listing for Canadian investors of Americas Silver is unchanged.
Ever Upward!
Neither $USAS or $USA work for me………
That’s strange, both USAS and USA (Toronto) are working fine for me (but I only hold USA).
Both tickers are working for me as well. However, I did notice some sites like Yahoo don’t have it linked up correctly yet. I had to give a heads up to ceo IT to get that new $USAS tagged as Americas Silver, as their feed service didn’t recognize the new ticker yet either.
It’s the first day of trading under this ticker so it is normal for financial sites to take a little while to make the switch in their systems.
For today we are flying under the radar of much of the investing universe. That’s why it is so valuable for investors to share ideas on here and to keep people posted on breaking news.
All the best!
USAS working now. Took a break to shovel snow off driveway.
Excellent!
January update to the Scorpio Gold Corporate Presentation that utilizes some of their recently released Production updates and how they exceeded 2016 guidance:
http://www.scorpiogold.com/i/pdf/ppt/CorporatePresentation.pdf
hey excelsior, been amazed at the moves lately in scorpio (volume wise) is way up. are people finally discovering scopio? hope it is just the beginning of a bright future for it here!!!!! dwj
I’m inclined to agree. A couple months ago, I thought an inverse head and shoulders might complete, but the weekly chart looks tired to me:
http://stockcharts.com/h-sc/ui?s=%24WTIC&p=W&yr=20&mn=0&dy=0&id=p54484111386&a=498698804
There was an article here at KER this weekend that showed the correlation between the 10 year bond yield and oil. The speculative short position on the 10 year is huge, implying yields will go down. That supports the thesis of oil moving down as well.
Excelsior – thank you very much for your detailed thoughts and charts on FCX. I saw them when I awoke this morning. Much appreciated that you took the time.
Glad to share ideas. Looking at FCX also caused me to see the deal they just funded on the Copper project in Nevada with Quaterra, so that was helpful to me. It looks like they are JVing that drill program together in 2017, so that will be worth keeping tabs on.
_____________________________________________________________________
$QTA $QTRRF Quaterra announces 2017 Drill Program at Yerington Copper Project, Nevada
“Freeport-McMoRan Nevada LLC has agreed to make accelerated option payments of up to $1.5 million. SPS has determined that these will be used to fund the 2017 drill program. Freeport Nevada is a wholly owned subsidiary of Freeport Minerals Corporation, which in turn is a wholly owned subsidiary of $FCX Freeport-McMoRan Inc. (NYSE:FCX).”
“Work will begin in the first quarter of the year and will include both reverse circulation and core drilling of a minimum of 15 holes in and around the Yerington pit, at the MacArthur deposit five miles north of the Yerington pit, and on other prospective targets identified on the Company’s large land position,” he says.
The market has just been a waste of time for weeks. Making a few hundred per trade on blue chips is not worth it and I will wait for the s&p go to the 2150 to 2180 zone and then I can make 10 to 30k on a bounce. S&P just might hold 2200. Only holding a large position in AT&T for now.
Uranium stocks doing well today but looks like people going to the sidelines now with the steel companies, copper miners, etc.
Perhaps someone knows that Trump is going to announce lots of nuclear power stations tomorrow… or just nuke the world.
Here is an opportunity for that little man in North Korea to send in an ICBM while Obama is busy packing and taping his boxes and loading them up in the trailers. Is anyone making sure Obama does not make off with government property like expensive dishes and cutlery?
Uranium stocks took a nice bounce back today. I did write back yesterday on the blog that I added Denison back, and in after hours trading had added back some UEC below the low closing price.
In addition, that Jordan RB interview had a nice segment half way through about buying the dips in Uranium stocks when they pullback around 15% on a move-forward basis.
It will likely be like Gold and Silver stocks last year where there were corrections of 10-30%, but then the stocks would take off again and run 100%+, then correct 10-30%, and then run another 100%, etc….
The huge volumes over the last month show institutional money is positioning for the longer haul accumulation, but the retail money will pile in and out from time to time.
Uranium Bull – #JustGettingStarted
URRE went crazy. I almost bit the bullet at $2.08, went away to make a meal and when I came back I could not believe how it had just gone almost vertical.
Yes, I saw it had a very nice move – closed up 27% today, but most of that in the afternoon to $2.68. Keep in mind it just fell for a straight week from $3.19 down to $2.10 in a week, so it was due for a bounce back.
Keep in mind this recent news release as well:
Uranium Resources Announces Pricing of $9.7 Million Public Offering
Jan. 13, 2017 (GLOBE NEWSWIRE) —
“Uranium Resources, Inc. (Nasdaq:URRE) (ASX:URI), an energy metals exploration and development company, today announced that it has priced a registered public offering of an aggregate of 4,825,871 shares of common stock at a price to the public of $2.01 per share. The offering is expected to close on or before January 19, 2017, subject to customary closing conditions….”
It may do great, but I sold my first tranche below today’s closing price and the second tranche above today’s close, so it would have been wash for me anyway.
Still, I must admit that move was pretty strong today, but I don’t see what’s driving it. Maybe the Lithium folks are jazzed about it and the Uranium bulls wanted a reason for a bounce after a week of selling off. Weird, wacky stuff…..
Most Uranium stocks bounced back some today, but there were a few double digit bounce-back stocks worth noting:
Uranium Resources, Inc. URRE +27.62%
Forum Uranium Corp. FDC.V +19.05%
Forsys Metals Corp. FSY.TO +15.63%
Anfield Resources Inc. ARY.V +14.29%
GoviEx Uranium Inc. GXU.V +13.33%
ALX Uranium Corp. AL.V +12.50%
Uravan Minerals Inc. UVN.V +12.50%
IsoEnergy Ltd. ISO.V +12.03%
Kivalliq Energy Corporation KIV.V +10.34%
Cameco Corporation CCJ +9.86%
I wonder if the news of Japan going ahead with a new nuclear reactor was the cause of the stocks rising up.
URRE could simply be a pump and dump by those institutions who got the stock for $2.01. It was a timely coincidence.
I have taken on board the concerns you worte recently about the company.
Good point on the Japanese restart.
Yes, as for URRE, those are just my personal concerns (lack of focus, sold NM properties, no history of Uranium mining in Turkey, and the new direction into Lithium exploration).
Obviously there are some investors really excited about it, and I did make a great return on it as an investment, so no complaints about it’s share performance. For me personally, there are just other Uranium focused stocks easier for me to get my head around.
I was considering buying some shares in London & Canada listed Mariana Resources which has PM mines around the world and something that is possibly very lucrative in Turkey.
But I did some research – the mines in Turkey appear to be in parts of Turkey that the Kurds believe are their own – and the company has a partner company in Turkey owned by the guy in the below article. So I decided that I could not invest in the company.
http://balkanist.net/following-the-turkish-corruption-trail/
Uranium Resources, Inc. (URRE)FORM DEF 14A | Proxy Statement (definitive)
Jan 20 2017
With UEC, the 26million in private placement shares will be available to trade to tomorrow with warrants available in 6 months. My suspicion is that some investors will dump those shares at a small profit and keep the warrants. I’m looking to put some stink bids in.
Great point Dirk. Yes I saw someone posting to that effect on Goldtent, and will be watching for any weakness to accumulate on sale.
Oil has been weak lately and headed to at least 49.50 to 50 and is not worth buying back now. Oil could help trigger a market selloff along with market disappointment with Trump as the market needs action and updates quickly on what he will do. The market could rally and the big guys will dump their shares reversing the rally quickly.
I was reading a report this morning by a chap, Driscoll, who forecast the 20s for oil last year. He reckons oil is heading back down there this year.
So, yep, we could see a combination of disappointment with Trump and oil going down could well be the catalyst for the market to drop down.
Oil could easily head to 45 and that would crash the market up to major moving averages where the banks will come in to support and make millions on the next bounce.
Yep, there is an awful lot of money to be made, in mere days, if the markets crash in the coming day or two only for them then to bounce when Trump announces all those new roads, railways, bridges and warships.
Education………..default rate of student loan……more than govt reported…..WAY MORE
massive debt awaits the tax payer