Comments on the Gold, Silver and the US Dollar
The precious metals are breaking out today again above that $1,210 level for gold. These breakouts are being supported by a move down in the USD below 100 points on the dollar index. Rick shares his targets for both these markets as well as invites all of our listeners to a special webinar he is holding this Thursday, February 2 at 8pm EST. Click the link below to sign up.
Click download link to listen on this device: Download Show
New (JAG) (JAGGF) Jaguar Mining Corporate Presentation
#Gold #Production #TurnAroundStory
http://www.jaguarmining.com/i/pdf/presentation/presentation.pdf
Thanks, Ex. I have been intending to examine Jaguar again.
It’s ready to stretch its legs again in 2017 + 2018 as they are back in the flow again.
I’m drawn also towards energy stocks; the potential there is not realized.
I would like to invite all of you to a demonstration this Thursday evening at 8:00 EST of my Hidden Pivot Method for trading and forecasting. You can sign up by clicking on this link: http://bit.ly/2jr3ZID .
My subscribers used Hidden Pivots not only to get long in March Silver ahead of today’s sharp rally, but to exit at the exact high, 17.635. Here is the pattern I used to project the top: http://bit.ly/2knqxcO. Using the same method, with a ‘counterintuitive’ entry trigger, March Silver became a buy again at 11:22 a.m. EST.
Scorpio Gold’s high level consolidation has been impressive. As long as gold holds up, I think it will too.
http://stockcharts.com/h-sc/ui?s=SGN.V&p=D&yr=1&mn=2&dy=0&id=p07793941304&a=453696495
Agreed.
I like that it is 40% higher than a month ago and is holding support above 12 cents. I am playing this as the same type of movement that USA did from sub-10cent levels to well into the .30s. There may be a buying window here and a sell window for some profits through Feb. and a buy back in March.
+40
Lot’s of room left to catch up to other smaller gold producing peers. This stock has been so undervalued, with no value at all given to the completely built prior producing mine on standby, or all their exploration upside. They’ve started drilling some great holes again, so investors are like “Scoripo Gold? Who are they?”
That is the exact same thing they did with Scorpio Mining – Now Americas Silver Corp.
Many of the sleeping producers and developers are going to wake up this year….
As per the below posted chart from Ex. showing the silver seasonality tendencies.
Yep. Seasonality isn’t perfect, and no 2 years are identical, but is very clear that for the last few decades that a good metals trade is to buy in late Dec – then trim some back in late Feb….then buy back those trimmings in March after the PDAC Curse. 🙂
Haha. The PDAC curse is as well known as “The Curse of Oak Island.” It is an interesting documentary on The History Channel. They started out the show with shovels on the Island and now are using massive state of the art equipment digging for Templar treasure.
Yes, of course. Good one Dan, C.
JAGGF, by the way, tripped a ‘counterintuitive’ buy signal on Jan 4 at at 0.4636. The ease with which it belw past a ‘midpoint Hidden Pivot at 0.5323 today tells me that is is almost certain to reach the pattern’s ‘D’ target at 0.6695. However, you should b prepared for a top of tradable importance to occur at that number or within a hair of it.
Thanks Rick – I’ll keep an eye on that D target.
As for Scorpio Gold, it tripped a buy signal at 0.0556 on Nov 28, presumably bound for a minimum 0.0933. The fact that it recently overshot the target has raised the odds that the stock is going to take another leg up. If it turns out that the leg has already begun, be wary of potentially rally-stopping resistance at 0.1123.
Another leg up seems quite reasonable indeed. Much appreciated sir.
I agree about another leg up and that was generous of Rick.
Rick is a class act and does so much to contribute here on the KER.
Always a good way to start the day…..
+1
+1 too.
Thanks for the kind words, Excelsior. Always pleased to help.
Theralase needed to have exceeded 0.3039 with the thrust that culminated on Jan 9 at 0.2869. The fact that it didn’t should turn us very cautions if TLTFF now gets to 0.2749 without having gone below 0.2230 first. My gut feeling is that it will correct lower than that before getting traction for another leg up.
Thanks Rick. Appreciate the extra effort.
Those who think that gold will have a decent year might consider Primero Mining. It has taken a pounding and now trades at .2x book. Considering its AISC, I believe that it will offer massive leverage to the gold price once gold establishes a trend. (So it should probably be avoided if you think the next trend will be down.)
It’s a new holding for me and I hold it in both Canadian and U.S. dollars. My average price including commissions is .7722 for PPP (NYSE) and 1.011 for P (TSX).
In addition to the relatively high AISC, the company has a tax dispute with the Mexican government which will likely result in quick big gains if resolved in the company’s favor.
Do your own due diligence.
http://stockcharts.com/h-sc/ui?s=PPP&p=W&yr=5&mn=0&dy=0&id=p69991114819&a=501668129
Thanks, Matthew. I’ve owned PPP for years and made a lot of money for a while, but now I’m way in the red. Same story with NGD. I wonder which is the better bargain now?
NGD might be a little less risky overall but PPP represents a better bargain and a more appealing opportunity right now, in my opinion. It has a couple of small gaps below that it might fill but such action would just cause me to buy more.
http://stockcharts.com/h-sc/ui?s=PPP&p=D&yr=0&mn=5&dy=0&id=p74031770132&a=503312006
Silver seasonality Bar Chart (check out Februrary):
Februrary = February
Primero gave yet another a short-sale signal back in late October at 1.45. I would have given you a 0.72 ‘Hidden Pivot’ target at the time, and in fact the stock has not only hit it, but used it as support since mid-November. If the support fails, I would expect more downside to at least 0.66, with a worst-case projection of 0.35 (Yikes!). To get completely out of jeopardy, I’d need to see a rally that exceeds 1.49. That would signal the likely onset of a bull market. Swing traders looking for a more sensitive bullish trigger could use a print at 0.95. I wouldn’t touch the stock until such time as it trades above that number. Please give me a nudge if and when it happens and I’ll provide further guidance.
Thanks a lot for that. I often speculate on small miners when no “hidden pivoter” would be interested but most people probably shouldn’t.
Gold will most likely need to fall significantly for PPP to hit .35 but crazier things have happened.
Rick, your thoughts about NGD would be very interesting.
Wow-wee, what a week!! And it looks like NGD has farther to fall, Bonzo — to $1.72. That target will obtain unless 4.41 is exceeded to the upside. It’s a ‘mechanical short on a rally to 3.07, stop 3.52; or somewhat less riskily, from 3.74, stop 4.42. In practice, I used what I call ‘camouflage’ entries near these thresholds to reduce the entry risk significantly.
Thanks Rick. Yesterday Doc said it might go to 2.
And here I thought I was the one to be breaking the bad news, Bonzo. My friend and very astute colleague ‘Doc’ Postma always seems to be a step ahead of of us all.
Matthew,
Are you in PPP for the long term,or just a trade ? 2,50? (i never owned it)
Honestly, I don’t know yet, Pete, but I am open to holding it for a long time if it looks like I should based on the coming technical action.
Thanks,Matthew.
You are not worried about a reverse split for PPP?
It is currently below listing standards.
No, I think one is already priced-in.
Rick, if you get a chance could you look at the technicals for Cobaltech mining, SYL: CSK-TSX-V, they have had a terrific run this year but it doesn’t seem to settle down. Thanks DT
This year I mean the last 52 weeks.
Colbatech’s (U.S. OTC: BNCIF) rally since July turned the WEEKLY chart bullish by exceeding the March 2015 high at 0.2110. This is very encouraging. Now, any rally of more than 5.5 cents from a low above 0.1335 would signal more upside to at least 0.2444. At present, that implies a thrust decisively above 0.1890 is needed to get the stock off the launching pad. This would change if BNCIF dips below 0.1335, but it could correct all the way down to 0.0450 without negating the bullishness of the daily chart.
Hi Rick, I’m going to sign up for your webinar. You are very generous with your contributions to this site and I’d just like to say thanks.
Thanks Rick, very much appreciated. DT
You’re quite welcome, Nick. The next “live” class is March 14, but you can take the complete, 3.5-hour course in recorded form any time you wish, 24/7. Once you’re registered, you’ll also have access to Wednesday tutorial sessions that serve as a graduate studies course. The learning process is “heuristic,” meaning that once you understand the basics, you’ll be able to grasp the basis for even the most beguiling trade set-ups.
Yes thanks Rick. You are the sober voice in a room full of drunks….
Defiance Silver has bounced up off the 200 DMA. I don’t own any. Chart hasn’t updated yet but will show a price over .40 again.
Defiance has been on fire lately and really put in a nice move the last few days.
Off Topic, but: any word from Theralase on human trials as CEO indicated would have the first participant by end of January which is getting close. Noticed 2 cent drop in stock this morning and of course it has had minimal movement for an extended period (except attempting to recover the dilution that occurred during financing). Thanks. Still a supporter but the silence is deafening.