Resource sector stocks that continue to run – Uranium, Cannabis, and EV Metals
Sean Brodrick joins me today to share some of the resource sectors where the stocks continue to breakout. We start with the Uranium sector where the stocks are drastically out preforming the Uranium price. Next up is cannabis where we discuss the move toward legalization in the US and how US stocks as well as some other country specific cannabis stocks are impacted. Finally comments on the clean energy or EV metals. These stocks are also building on their breakouts.
If Freegold Ventures doesn’t start moving soon I’m going to call them Freddy’s No Thrills, that should do it! LOL! DT
There is a huge Tin shortage in the market, a stock I haven’t bought yet but probably will for a momentum trade is Alphamin Resources, SYL AFM, in The DRC. Not a stock I would want to hold. DT
Tin ran out on the “tinfoil” hats………..man, with all the conspiracies , what did you expect…LOL .. 🙂
All those with out work, and a great demand for those in need of a tin cup for a hand out, ….. what did you expect….. 🙂
Not funny, but, that is the world…. going to get a lot tighter on the tin…. JMO
Apparently the UFO that crash landed in Roswell was covered with a tin metal which when compressed and released would maintain it’s original shape. That should get the “tinfoil” hats thinking. DT
LOL………. that would be call Tin thinking of the day ….. 🙂 .. tin maybe not….
All kidding aside…….. thanks for the heads up…… on the Tin…., of course all that kicking the can down the street on the paper debt, …we have lost our focus on the real things going in shortage , …with 7 billion people on the planet,….a lot of tin cans need to be used daily…..
Mr. Wonderful is right stay out of debt, that is about the best advice anyone can get in life, politics are meaningless because they attract the psychopaths, knowing that settle back and enjoy whatever time you have. DT
Ditto on the …..stay out of debt……… life is easier long term…. jmo
Nice to Sean B’s take on the trending sectors (Uranium, Battery Metals, Cannabis).
the biggest movers were in the Uranium stocks and Crypto miners. I had already trimmed back both sectors (Uranium & Crypto miners) in prior weeks, but I trimmed back more of my URG Ur-Energy, DNN Denison), and UEC Uranium Energy Corp positions, and completely sold my Coin Citadel position when it gapped up 50% today. Didn’t do much with the PM stocks today, but did pick up a starter position in KUYA this morning just to get a fishing pole in that pond.
I mentioned on Friday picking up a position in (MJ) Alternative Harvest ETF, after it had dipped down for a few days, for some exposure to the pot stocks. Today it was up nearly 10% on the day, but I’m still trying to figure out good entries for some of the individual names.
Ex, I saw Denison moving up today, I thought that’s nuts, this is a trader’s dream. DT
Agreed DT. It was another barn-burner day in the Uranium stocks (again).
Symbol – #Uranium Stocks – Daily Change %
UVN.V Uravan Minerals Inc. +37.50%
AAZ.V Azincourt Energy Corp. +36.36%
FSY.TO Forsys Metals Corp. +34.94%
DNN Denison Mines Corp. +34.23%
MKA.V Mkango Resources Ltd. +23.73%
VO.V ValOre Metals Corp. +20.31%
URG Ur-Energy Inc. +19.13%
FCU.TO Fission Uranium Corp. +18.87%
AL.V ALX Resources Corp. +18.75%
STND.V Standard Uranium Ltd. +17.95%
AEC.V Anfield Energy Inc. +16.67%
REL.V Roughrider Exploration Limited +16.13%
GGG.AX Greenland Minerals Limited +15.63%
LAM.TO Laramide Resources Ltd. +15.38%
PBM.V Pacific Bay Minerals Ltd. +13.04%
UEX.TO UEX Corporation +11.76%
API.CN Appia Energy Corp. +11.29%
URNM North Shore Global Uranium Mining ETF +10.94%
FUU.V Fission 3.0 Corp. +10.34%
ISO.V IsoEnergy Ltd. +8.93%
GXU.V GoviEx Uranium Inc. +8.45%
SYH.V Skyharbour Resources Ltd. +8.33%
AZZ.TO Azarga Uranium Corp. +7.84%
LTBR Lightbridge Corporation +7.64%
URA Global X Uranium ETF +7.52%
CCJ Cameco Corporation +7.42%
BMN.AX Bannerman Resources Limited +7.14%
UEC Uranium Energy Corp. +7.08%
MGA.TO Mega Uranium Ltd. +6.67%
LEU Centrus Energy Corp. +6.53%
U.TO Uranium Participation Corporation +5.88%
UUUU Energy Fuels Inc. +5.87%
EPM.AX Eclipse Metals Limited +5.56%
WUC.CN Western Uranium & Vanadium Corp. +5.08%
CUR.V International Consolidated Uranium Inc. +4.41%
RDM.AX Red Metal Limited +4.35%
CVV.V CanAlaska Uranium Ltd. +3.45%
LOT.AX Lotus Resources Limited +3.45%
GLO.TO Global Atomic Corporation +3.21%
UWE-H.V U3O8 Corp. +2.56%
BSK.V Blue Sky Uranium Corp. +1.92%
NXE.TO NexGen Energy Ltd. +1.78%
PWM.V Power Metals Corp. +1.32%
GCL.L Geiger Counter Limited +0.91%
Ex……….. you need to stop out guessing yourself, …. A little more Jessie Livermore, would be in order…. 🙂
Hi OOTB. I’ve actually been doing quite well in the resource stocks by actively trading them, and had much better returns overall, than if I would have old turkey’d it like Jessie Livermore. That works good for conventional markets, but most of the Junior explorers and really most mining stocks are better trades. That isn’t to say that buying and holding isn’t good longer term in an unfolding bull market, but I’ve traded in tranches around the core positions many names a dozen or two times per year, and magnified the returns rather than just sitting in them like a bump on a pickle. 😉
The speculative fever has been intensified by the action of The Federal Reserve System in lowering rates. The lowering of money rates has stimulated the stock market. The White House is giving sponsorship to the very inflation which is a worry to the sober minds of the financial community. The easing of money rates is also driving the accumulation of gold away from The United States. DT
Who in The Western World wants to invest in gold when it is so easy to access money these days. The end is not far off but until then I want to enjoy the party! DT
Yes, one needs to enjoy the party, and as Goldfinger mentioned in that editorial that was posted on the weekend show blog, one needs to dance while the music is playing, however, after the party… comes the hangover.
Harvesting gains to raise funds along the journey higher will give investors the capital to be opportunistic if markets correct, and having that dry powder reserves to fire off into pullbacks, is the aspirin for the party hangover headache. 😉
With the Uranium miners, longer term I believe they will head much higher, and I still have 7 positions in place, but after the run they’ve had from last year into early this year, many are up 200-500%, and considering the spot price of Uranium is still hovering down around $30, then the rapid price appreciation is starting to get a bit ahead of itself.
For clarity, I’ve left my core positions in place for the long game, but when stocks keep popping double-digits repetitively, then it is just wise risk management to pull some profits along the way, so that they don’t evaporate and go to money heaven, if there is a draw down in the sector. Also, if there is a pullback, then that is the time to capitalize and buy positions back at a better cost basis, and some old turkeys have already blown their wads prior to pullbacks and don’t have any dry powder to fire off when deals show up, because they never harvested any gains.
As for the insanely volatile crypto miners, I have no illusions that these stocks are anywhere close to rational valuations, and they are surging higher into the bubble froth. When I saw my Coin Citadel rocket higher by 50% today, I cashed out and am plenty happy booking that gain in just 4 trading sessions. [that is more than most generalist funds or the investors that have them make all year, so not too shabby]. Now, could it keep going higher and higher? (sure it could) Could it also come crashing down brutally? (sure it could).
I nearly tripled the money I put into GBTC Grayscale Bitcoin trust last year, and could have made more hanging on until now in just that stock, but that has to be contrasted with the gains I made by rotating those winning into other mining stocks that also went up bigly.
Many investors have made $0 in Crypto miners or Uranium stocks last year or this year, while others will chase the bubbles higher and end up buying tops, like we see in each big move higher, and they’ll end up losing money on the smash down by “HODLing” or “Huddling”. I just don’t plan on overstaying my welcome in the cryptos or any sector, and my trading account has been growing by harvesting gains along the way, and then redeploying those into areas that look more opportunistic when those situations present themselves.
As the saying goes… “Bulls make money, and Bears make money, but Pigs get slaughtered.” 😮
The Anatomy Of Financial Bubbles
Real Vision Finance Investor Tutorials · Featuring Jamie McDonald
Published on: February 14th, 2021
“Jamie McDonald, former portfolio manager at Point72, helps viewers understand the signs, causes, costs, and occasional benefits of financial bubbles. Highlighting the predictability of human nature and paradigm shifts in monetary policy, McDonald raises another question, “Are bubbles inevitable?” He examines past bubbles for answers to these questions, breaks down the 5 stages of every financial bubble, and dissects the current environment to help viewers judge if we are in the midst of any bubbles now.”
Peter Piper…….. of the mining section…. lol
(WRN) Western Copper and Gold live webinar
Monday, February 22nd, 4:05 PM EST
“Solely Focused on Developing the World Class Casino Project.
One of Canada’s premier copper-gold mines with P + P reserves of 4.5 billion pounds of copper.”
WRN has been one of my largest holdings for months. The chart continues to look strong. Everyone recently has been touting the silver plays—-as mentioned i unloaded a lot of my silver stocks when the short squeeze mentality was cloaked in hubris and some of the stocks are slowly coming back. i will continue to hold the silver plays I still add and hope for a slow wind down of some of the ones I sold so I can start accumulating them again. When everyone is looking at one area and are mesmerized by it we often forget about other areas. A lot of the gold stocks have been leveled and it appears will be leveled more over the next few weeks. This is the area that is holding my attention now since pricing is starting to look very favorable for the long haul. One example is SAND which has gotten crushed but yet has a beautiful future with a lot of free cash flow that offers them more acquisitions as some of the juniors are taken to the woodshed.
Good thoughts Doc. Yes, I’ve been liking the action and the chart on WRN lately as well, and have been increasing my weighting with it inside my trading portfolio… the same thing Sandstorm (SAND) that you mentioned, and it has become my largest precious metals position over the last few weeks.
As for the Silver stocks, they are a mixed bag with many holding up much better than the Gold stocks since the PM correction started in August of last year. I’m currently more concerned about Gold than Silver, with it hovering in the low $1790s, and high $1780’s, dangerously close to the recent low at $1784, and the November low of $1767. If those levels do get pierced (which I’d prefer that they don’t), then we’ll see plenty of clearance sales in the PM sector. Cheers!
Ex, I don’t like the technicals right now on gold and you could get that piercing which should also be a negative for silver. But that’s okay since the bargains will be amazing. I guess I always look at the positives in negatives. I’ve started to slowly add to gold positions again and my cash position has moved from 61% to 59%. As you can see, I have a long way to go but it’s like being a child in a candy shop.
Yes, I agree that the Gold chart is looking concerning, but it is at an inflection point and is whipsawing back and forth channeling sideways between the 55 day EMA and the 233 day EMA, in a downward sloping fashion, but the range has been steadily narrowing, and building up energy for a big move.
It would have been ideal to see the 233 day EMA hold as support, but recently gold dipped below it making a “higher low” of $1784.60, compared to the Nov low of $1767.20. Even in today’s weakness, Gold closed at $1799, which was still a higher low. If these levels can hold and it finished the apex of this consolidation move around where it is now, then there is still the other path, where it builds out of this into a bullish move.
Here’s the Gold chart showing those EMAs and both the recent lows.
> Now, if it breaks the November low, then yes, Gold will drag Silver down with it and the whole PM sector, and having that much cash you are sitting on will be quite the boon, as the miners will go back on fire-sale, and yes will be like a kid in the candy store buying as much as one can.
However, if Gold can pull off basing here, and bounce out of this 7 month funk it’s been in, then the miners will conversely go screaming higher, and then cash will need to chase things higher.
As the saying goes, “Damned if you, damned if you don’t.”
I have a feeling we’ll know this week whether Gold can hold the line here and bounce, or if it is about to take a swan dive down the toilet bowl. Bottoms up!
Doc, when you’re talking shopping of gold stocks, which ones are you eyeing? Is it simply more pure gold, yamana and iamgold in addition to sandstorm and western?
Doc you wrote: “When everyone is looking at one area and are mesmerized by it we often forget about other areas.”
Great point. While most were focused on the GameStop, AMC, and the Silver squeeze, the Uranium, Lithium, Platinum/Palladium, Nickel, Copper, Cannabis, and Crypto stocks have continued to blaze higher with little buzz about any short squeeze needed from the Reddit/WSB/Robinhood investor throngs. This is precisely why it is good to be diversified across different sectors. It’s like a giant game of whack-a-mole and one sector pops, while another drops. 🙂
Canuckski: I’ve kept my pure gold position and am waiting to add on its’ downdraft which I do not think is over. I’ve started to “nibble” on IAG and will add more soon and a long time ago I sold my AUY but am waiting for an entry point again. I also think that one has farther to fall.
I love the “whack a mole” analogy. I also love to purchase out of favor sectors and stocks. One of the energy stocks I purchased at its’ low over months was BIREF—-it’s now broken out and has a lllllloooooonnnnnggggg way to get back up to its’ highs. I remember Rick Rule mentioning it about 2 years ago, looked into it and then started to purchase over time.
Yes, the energy space in Oil/Gas has been another space that has been clawing it’s way higher, with many companies still at a nice valuation.
Best Whack A Mole Game Ever!
Ex, you have any energy plays and if you do, are there any that stand out for you?
No I’ve only used the ETFs like XLE, XOP, OIH to play short duration trades in energy the last few years. I’m following too many other sectors to drill down into the individual names in Oil/Gas/Oil Services.
Most of my energy focus has been by way of Uranium, Lithium, Copper, Nickel, more so than Oil, Gas, or Renewables.
My plan was to get more engaged with all aspects of the energy space over time, but I couldn’t ignore the moves in the base metals, battery metals, cryptos, and recently cannabis, so my PM profits got dumped into those instead.
The rising oil prices also aren’t going to do the PM stocks any favor.
Agreed. Energy costs will add to the mining costs. Still the margins for most producers are pretty beefy at $1800 Gold and $25-$27 Silver.
Thanks much for all the commentary!
STATS(2/16): https://ibb.co/3MC4jqc
Replaced “Banking” with “Energy” per
mention above (basis: XLE-XOP-OIH).
Many sectors are nearing a Chapman
Wave Top now, and with Saturation.
BDC
Yep, BDC – Those are 3 good Oil ETFs.
I’m not sure exactly what a Chapman Wave is but you mentioned it was a topping pattern. That wouldn’t surprise me at this point, as things have become very over-extended about everywhere one looks.
Your input is greatly appreciated by me. Thank you.
The average CW is a 6 peak or trough move to a top/bottom which usually brings a pull back. Basil Chapman of tfnn.com fostered the idea years ago. Very simple and easy to count visually, and very effective.
He uses letters A-B-C-D-E-F. Interim tops can end at D (for consolidation), and an F top can be succeeded by a “rogue wave” (or G). I find that using it in conjunction with Saturation is incredibly powerful.
In this example, the left peak A-B-C is not shown: https://ibb.co/mCNFZZh
Actual file name (buy back date): REZZF-20210208-ThursdaySell-CW(F)MS(4.5)-MondayBuyBack-MondaySell-CW(F)MS(6)
CW: Chapman Wave
MS: Maximum Saturation level (of 7 possible)
Note the two step pull back into Friday. Close inspection on Monday enables a buy back. Per Chapman, even a penny can mean a new wave: there’s not much difference between E and F at the top, but it’s there!
Today was the 8th straight session lower for K92 for a 24% decline so far. Such a move often results in a major low and the odds of that will go up if it can plunge further before reversing. Falling an average of 3% per day for 8 days is a great way to wring out weak hands as well as some previously strong ones.
https://stockcharts.com/h-sc/ui?s=KNT.TO&p=D&yr=0&mn=9&dy=0&id=p24627818101&a=894594506
Great insight Matt, thanks. I was eyeing K92, but wasn’t yet sure what the ‘get in’ price should be. I presume from what you’re saying is that anytime about now or next week is a good enough time.
With a rare and large 8 straight down days, I’d be ready to buy tomorrow or the the next day. I have a feeling it will dip further tomorrow and then reverse for at least a short term low and very possibly a long term one.
Because of the size and speed of the decline, I bet it will deliver a very nice and quick short term gain.
Brixton acted just fine today:
https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=0&dy=0&id=p70936464716&a=875266646
I’ve got a buy order in @$4.80 on KNTNF
SILJ moved up about 11% since my last purchase but I decided to exit for now since the whole sector is not acting as well as I had hoped it would, especially everything gold. However, I did buy a beat-up gold miner today along with more Galleon Gold.
https://stockcharts.com/h-sc/ui?s=SILJ&p=D&yr=0&mn=7&dy=0&id=p00746047497&a=890750913
Gold update!
$1774 next key level or better said $1771-$1774..more then likely overnight.. looking for a Thursday mini green candle pop and Friday making a lower weekly close setting the stage for the Monday smash..
Expecting miners to break down tomorrow.. not all but many..
Shopping time fast approaching.. I think this will be the last post until Sunday night. Let’s see how she goes. Remember keep an open mind and when trading always be ready to make adjustments as I did over a week ago shading my own pattern. How work never stops and negativity as doc mentioned turns Into positivity..
Best of luck to all
Glen
Glen, I think the gold bears are going to make an attempt at a new low tomorrow. With gold sitting around 1792, now’s the time for a try. It’s only $25 away. Meanwhile, silver just keeps strengthening versus gold…
https://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24GOLD&p=D&yr=0&mn=11&dy=0&id=p19878273590&a=770101950
Matthew – I think you’re right about that.
Gold is currently at $1790 and got down as low as $1785.80 just a few dollars above the recent low.
If the yellow metal can not hold the line at the recent higher low of $1784, then the November low of $1767 is within striking distance. I’m sure bears smell blood in the water and will try to run the stops and break Gold to a new lower low, and they like the early morning smash downs. The question is, will there be enough buying support to come in and keep that from happening?
If it happens, it needs to be quick and the reversal powerful or the end of this month will bring us a monthly MACD sell signal (among other negative technical developments). Considering the quarterly and yearly charts as well as the picture for silver, the monthly MACD sell signal probably wouldn’t have the implications that it did in 2016 but I’d still like to see it avoided and that means we need a strong rise between now and the end of the month. I also would prefer not to see back-to-back negative quarterly closes since such never happened between the beginning of 2001 and the end of 2012. During that bull, every down quarter was a one-off.
It is probably beneficial that gold and silver are so out of sync this time since silver looks healthy enough to limit gold’s downside if it does get uglier. On a related note, the silver-gold ratio became monthly and quarterly overbought (based on RSI-14) in 1979, 1997/98 and 2011 but is not close to overbought now.
Weekly gold:
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=4&mn=3&dy=0&id=p71163424936&a=712774405
I mentioned awhile back that if the recent low broke
this chart would be posted: https://ibb.co/VpCZm0Q
(First Boundary Bogey: 1711.61)
https://ibb.co/mvqczy8
Boundary Bogey broken.
Bounce?
Dollar Index: https://ibb.co/mb0j84p
All significant gaps will fill eventually.
Morning update!
$1774 hit bang on! On gold price.com
Expecting shares to get hit hard today..
Get ready.. tomorrow will be an up day possibly..
Glen
My miners are down a whopping .65 percent so far.
Matthew the worse is still yet to come…lol
Matthew most of them will break there November lows.. so if you bought yesterday or two days ago the application is different. It’s from a short term perspective. For long term players it hurts or as doc said is a great buying opportunity.
Also I plan to buy more impact at a lower price target I have been looking at for sometime. 😎🥳
It’s shopping time..
Buying should be done on a case by case basis, not just based on gold’s action. A lot of juniors will not make new lows even if gold does.
Historically, Doc is most bearish at or near lows. At the extreme lows of March, he thought nothing would happen in the miners for at least the rest of the year. It was the same at the major low of mid-2018 when gold was under 1200. Then there’s platinum…
https://stockcharts.com/h-sc/ui?s=%24PLAT&p=D&st=2018-05-05&en=2019-09-03&id=p70482933002&a=640676073
Agreed Matthew. I’m actually kind of amazed at how well many Gold and Silver stocks are holding up, all things considered, with many up and green on the day. They should all be evaluated individually, and so far most miners are well off their November lows, but of course, things can change suddenly in this sector, so I’m on high alert looking for areas I may need to trim back defensively, but also looking for places to scoop in and buy quality stocks if they go on the clearance rack.
If… IF the Thanksgiving Rally low holds
THIS bottom may be the breakout turn!
Yes, if that November low holds, then the moved down earlier today to $1768.55, may in fact, mark a double bottom. That would be far more bullish, than breaking the November low, and putting in a new lower low, so fingers crossed that this line in the sand holds.
https://ibb.co/3MC4jqc
GDX MS calls for a Friday turn,
but that’s plus/minus one day.
The others call for tomorrow !
Looking to see if “Happy” or “Glad” has a better day today.
Happy to glad example. Azarga uranium been going up. Yesterday Azincourt Energy went up over 35%. Today Azincourt dropped over 20%. So, took some Azarga profits and bought some Azincourt. Happy to glad but Azincourt cost about one third less than normal but maybe 50% less than if bought at high yesterday. Bottomline: gives me a feeling I am making progress, but probably just increasing my tax bill next year.
David – I’ll tell you one I’m pretty “happy” and “glad” about today. Grid Metals.
$GRDM $MSMGF Grid Metals up bigly (68%) on their news today:
Grid Metals Files NI 43-101 Report on Bannockburn Nickel Property:
Historical Drilling Identifies Potential for Bulk Tonnage #Nickel Deposit and High Grade Nickel Mineralization
https://gridmetalscorp.com/site/assets/files/5217/2021-02-17-nr-grdm-crfi110jko3.pdf
Boy…they like intervals
Range on OTC showing .142 to .2702. Currently at .213 which is holding over 60%. I wrote this one in the palm of my hand. Nickle.
HUI, DUI?
Doc,
I know you purchased some Iamgold recently as that is my biggest allocation that I’ve had for quite some time. Somebody else mentioned to you about it I’ve been on here for years saying that it’s done me well in the past. It’s channelling down as I spoke about 2 to 3 days ago it will break $3.80 as far down as $3.30 if it gets really bad could get lower but I highly doubt it that is an unbelievable buying range that will be rewarded in one years time.
Glen, I agree and have been licing my chops to add big. I could see it was going to break down more and only took a small position. I believe it bottoms around $2.50 or close to that.
I am impressed …………..$1774……….well done GLEN……
You the man… 🙂
Gold actually sunk down to $1768.55, about $1 above the November low of $1767.20.
That would make a confirmed Double Bottom if this level holds, as the last line in the sand for a bounce here, before a new lower low is put in the charts.
Took some profits on some of the cannabis plays as I figure they will pullback/consolidate recent gains. Still holding all my IM Cannabis tho….picked up some Ucore for a ree play but rest going to one of matthews favs Brixton
Sounds like a good plan Wolfster. I’m still waiting on IM Cannabis to get their Nasdaq listing done. They’ve done the reverse split, so that is good, but I want to wait for it to go live on the big board.
Yes, regarding the Rare Earths, Ucore is a great pick, and one I’ve been considering taking a flyer in, as well as getting back my Leading Edge Materials position for (graphite, rare earths, lithium). Another REE play I used to own was Arafura, and it looks like it has had a big run up lately, but I may throw it back in the mix soon.
Cheers!
Thanks Ex. I choose Ucore cuz it looks like one that the US govt wants up and running
That makes sense Wolfster. Yes, Arafura is an Aussie play on REEs, but like Ucore, they’ve been seriously engaged in developing and processing the REEs since the last cycle in 2010-2012, and are a real rare earths company, not a Johnny come lately like most of the sector-jumping companies we see. I’ll likely join you in Ucore in the not so distant future.
And cuz I’m warrants guy I grabbed some uranium royalty warrants as they don’t expire til 2024. Cheers
Thanks for the info on Ucore………
Jerry,
Your a positive energy person and I can tell well educated and Informed.. The type of person Many gravitate to..
Thank you for your continuous support and more importantly acknowledgment of my calls as I have maintained “Is there anybody out there” lol..
I just make the call everyone else is a grown man. I hope it helps I can assure you that we are super close to the turn.. With that said every major correction and this is one always always tends to end with “ a blood bath phase or hurt” in the miners more so.. This one has been grind them and kind them with the final stomp them coming attitude of which it is wise and prudent to turn game plan around as I did long ago to your advantage..
As soon as I think the low is in you will be the first to know buddy!😃
Cheers
Glen
Thanks Glen………as I have said before…..you deserve the spot light, with the calls….
I respect all the hard work it takes to keep in tune with the charts….
So, the BRAVO…..again goes out……Keep up the Great Work, and do not be afraid to call out what you see…………..THANKS AGAIN….
Larry Pesavento on Gold (early):
https://www.youtube.com/watch?v=vL3LODlloBA
15:45 – Platinum.
Thanks BDC………for the info on PLATINUM……
Did I heard ……. gold $1610……
I think 1710. Maybe to 1640.
My Boundary Bogey is 1711.61,
IF the Thanksgiving Low breaks!
Latest: https://ibb.co/LSFZ8Tt
Thanks……..at 1610,…..we would have a complete round trip in one yr….. 🙂
😀
My pleasure. Tom O’Brien calls that: “100% Move of a Move.”
Might have to KEEP TOM on the LIST of good gurus……..
Another : “The job of the Market is to take the greatest amount of money from the largest number of people in the least possible time.”
When I look at miners percentage from top to low I’m measuring them on a longer term basis. Which means $2075.14 all time high in gold price.com which I prefer to follow has led a down tread across the board with almost every miner excluding a few who had magical findings or something. I don’t measure overall in the short term like yourself and others do ker say because I don’t shirt trade more intermediate and long term.
I can assure you the low is not in and and November low will be broken and it’s not because I’m a bear or because I wish this it’s because I’ve bailing the calls and I’m ona good pattern that will show it. I bound to use that to my advantage for the “ longer term” purchase. For my 8% remaining. I did not buy anything today because I know we’re headed lower.
No one person is perfect Matt this correction is longer in the tooth then some might have wanted 😬
Let’s make mula buying these lows that are coming. Of course some companies may not make lower lows I agree on that..
Took a quick leak and $1769.65 was hit after setting almost 2 hours at the famous call of $1774 hidden pivot as my friend Rick would say lol… that number is significant in my pattern..
We should hover around here and possibly tomorrow have a suckers rally.
Keep you posted
Glen
https://ibb.co/mb0j84p
Lower gap fill might do it.
Yes, it is very long in the tooth and also sports plenty of positive divergences among the miners. That’s why it pays to act on a case by case basis rather than obsessing over the price of gold. It would be different if gold wasn’t so far “in the money” for most projects or if your focus was primarily producers or if silver looked as bad as gold, but none of those things are the case.
SILJ is still $1.00 above my buy on the 4th where Doc and you preferred caution and HL is $1.25 above the level that Doc assured Bonzo would be revisited.
Brixton is 37.5% off its low of just 2.5 weeks ago and there are many others like it. It is even up 3.77% on this “bearish” day. 😄
Matthew i’m not obsessed about gold if I was I would not be realistic in my approach. I’ve learned plenty in the last decade not to fall in love with anything or anyone. I think being able to predict the price action of gold itself and do very well and it is a compliment it’s a asset to have.
Simply sharing information with all the viewers and as I mentioned many of the indexes in the minors have been bleeding the last few days and it will continue. You are great at finding minors and trading them from Malo and flipping them when they move up and rotating them that’s not my game I play intermediate cycles and long term that’s what I’m most focussed on right now. Not to say you don’t add to your long term you’ve mentioned that before that you have
I’ve learned plenty from you and he who says they can’t learn from others would be foolish as we both know so I leave you with this we’ve been on the same side when reaching tops or intermediate tops and pushing the limit I’m trying to squeeze every last ounce equally when you were at bottoms when you think the bottom is in you try to squeeze more from it.
November low will be broken and if it doesn’t break I won’t fret.. No emotions time to make money
Glen
I’m still not convinced that Gold
is not turning surreptitiously now.
BDC, even if it manages to break the old low as GLD already has, it will still probably reverse very quickly as the “commercial” hedgers grab whatever the weak hands cough up.
1737 marks the “382” Fibonacci retracement of the move since the mid-2018 low. 1690 is the number if we start at the bear market low of 5 years ago. Neither “must” be reached as it is typical of bull market retracements to fall short of such obvious targets.
Thanks! That raises my suspicion.
Such divergence can happen at turns.
GLD hit a Chapman Wave F today.
This can mean a completed cycle!
Thanks BDC!
L. Zang…………..hello……….SLV………just changed the rules……no connection to Phyz….
https://www.youtube.com/watch?v=ljc8Yj-PpHg
Likely blockchain weakness:
https://www.youtube.com/watch?v=YpobzHHmP8w
Worst of Day; Worst first: Lion One, Novo, Pure Gold, Great Bear, Silver Tiger, Blackrock, Aurion, Azarga, Metallic and Vizsla.
Just terrible stuff. Right….Not Gonna Sell None of Em
My Nevada Copper SYL-NCU is up 26.47% today, I added to my Freddy’s Airlines today! DT