Big Picture US Markets vs Commodities and Silver vs Uranium

April 10, 2021
Full Weekend Show

It was another busy week of editorials and company interviews. Be sure to check those interviews out to stay up to date with all my guests.

On this Weekend’s Show I feature Mike Larson, Dana Lyons, and Steve Penny to comment on US markets and commodity investing on the back of the bounce over the last couple weeks.

Please keep the emails coming! I love hearing what you all think of the companies I have on the show and any topics you would like me to focus on. My email is

  • Segment 1 and 2 – Mike Larson, Editor of The Safe Money Report kicks off the show with a conversation focused on the general health of the US Markets. We discuss the strong breadth, new highs, and rebound in large tech stocks. We then move to the infrastructure bill and what commodities will benefit the most.
  • Segment 3 – Dana Lyons, Fund Manager joins me to discuss the recent decrease in volatility for markets. We also balance the rebound in gold to the rise in cryptocurrencies recently.
  • Segment 4 – Steve Penny, Publisher of The SilverChartist Report wraps up the show with a focus on the silver and uranium markets. We look at key price levels for each and drive down to the stocks in terms of potential upside.

Exclusive Company Updates This Week

Mike Larson
Dana Lyons
Steve Penny

    Apr 10, 2021 10:40 AM

    Cory, thanks for the silver and uranium interview

    Here a Kitco interview with Rick Rule on uranium and silver

    He also likes copper (agree on copper)

      Apr 10, 2021 10:41 AM
      Apr 10, 2021 10:57 AM

      Agreed Thomas – The Silver Chartist had some good thoughts on both the medium to longer term views on both the Silver and Uranium markets, and appreciated hearing his thoughts.

      Thomas – Thanks for posting that Rick Rule interview. Yes, Dr. Copper is going to continue to be in demand for years to come, and I’ve been starting to get my portfolio of Copper stocks in order, over the last 12-18 months, but still have more to add as time goes on.

        Apr 10, 2021 10:54 PM

        Ex thank you for your advice on kootney a point well taken!

        Matthew you and ex alone well and I’ve learned overall that when silver takes off, kootney is leveraged really well to prosper from it kind like my iamgold that make a killing when gold goes above a certain price point..
        Mgoing to shop soon


          Apr 11, 2021 11:16 AM

          Yes, I like having Kootenay as an optionality play on higher silver prices, similar to Discovery Metals or Southern Silver.

    Apr 10, 2021 10:59 AM

    Enjoy your site BUT it does not show as being SECURE. ( no padlock )
    Can you fix this as bad guys can cause computer problems.

      Apr 10, 2021 10:54 AM

      Hi Richard… For what it’s worth , i have been on this site for about 11 years, & have never had a problem with the Bad Guys….. if that helps.

        Apr 10, 2021 10:59 AM

        +11 IrishT.

        Apr 10, 2021 10:20 PM

        This site is nothing more that a forum where people can either agree or disagree. Free thinking is what American is and always has been based on. In my mind we have no good guys or bad guys!

    Apr 10, 2021 10:46 AM

    Cory great job with your guest as usual! Keep up the great work and thank you for being attentive to questions and quick response action.

    Also I hope al is well we don’t see or hear much from him lately.

    Jerry thank a bunch everything is notes and just catching up on the video and info regarding covid..

    For all you fine folks I’m linking a video in the politics side regarding covid. Some of you have see it for sure but for others enjoy. It was taken down with 20 minutes and censored by YouTube

    Matthew thanks for your response regarding impact point well take noted. Also would like your perspective on kootenay I’m thinking of starting to purchase some very shortly as you, ex and a few others are very high on it?

    To all the gentlemen and gentlewomen a great week this far for gold showing some strength and also always wishing everyone prosperity. Just make sure you save 5-10% if not more for Rainy days if they come.

    Cheers to all and to all a good weekend.


      Apr 10, 2021 10:52 AM

      Thanks for the show Cory. Good thoughts Glen. I own Kootenay and was considering purchasing some more myself.

        Apr 10, 2021 10:38 AM

        Thanks Charles good to know as well!

        Apr 10, 2021 10:07 PM

        Yes, agreed guys. Kootenay is a nice optionality play on higher silver prices, they have a few good projects; some of which are JV’d out to other partners, and some of which they are doing their own exploration on. Some of the news higher grade drill results and projects have also diversified them from just the lower grade larger bulk tonnage deposits, so they have a nice mix of Silver and other metals under their umbrella.

        Apr 10, 2021 10:13 PM

        Charles – thanks for bringing Kootney back up. The seem to be drilling and making deals to advance things along but their stock isn’t catching much of a bid –

          Apr 10, 2021 10:50 PM

          Hey mr mike In Albuquerque New Mexico,

          Welcome to the land of freedom of speech and well informed!

          I’m actually the one who brought up kootenay.. no competition here but really glad Charles a good contributor and ex who knows his shit chimed in!

          So I’m open ears of you know a thing or two?

          Matt waiting for your appraisal and anyone else?

          I’m stocked on impact at .29 average and about 750,000 worth of shares! Thanks to Matt and ex is blessing.. I now want to load up more and I want two or three more plays in silver..

          Endeavour has been one I’ve like for long time same as well as fortuna and silver Corp! Just there to high for my liking I don’t chase


            Apr 10, 2021 10:44 PM

            Glen, if you’re bullish silver, you should be bullish KTN and the higher you think silver will go, the more KTN should buy (my opinion, not advice!) In addition to its high grade silver, the company has a LOT of low grade silver that is not yet “in the money” (it is not economically feasible to mine at the current silver price). So, if/when silver flies through the low-mid $30s, KTN’s assets in the ground will explode in value. And if the $30s or higher become the new floor (like $4 was 20-30 years ago and $13-ish was/is for the last decade), the new higher share price will absolutely “stick” no matter how quickly it is achieved (if a vertical move is really a fundamentally legitimate repricing, I would bet against the usual deep price retracement that usually follows vertical moves) but I digress.
            I like KTN and I’ll like it more as silver gets closer to another intermediate, multi month rise. I’d rather get my leverage the way KTN provides it than to use margin debt but I use both.

            Apr 11, 2021 11:41 AM

            Mag silver’s another.

      Apr 10, 2021 10:01 AM

      Glen……….if, you have any questions on covid , I have been following covid , as I said before, I think earlier than anyone around here. Starting in Oct Nov.2019….
      and for the record……I posted the hoax, starting in Feb 22,2020, and got a lot of flack from a lot of jokers around here.(some have gone missing)…just saying…. 🙂

        Apr 10, 2021 10:41 AM

        Thank you Jerry point well taken! There are many great minds in hear and your no exception one of the true leaders of the pack.

        Keep posting your views I enjoy 😉

          Apr 10, 2021 10:48 AM

          Thanks Glen………. and ditto…….there are some great minds around here
          and also….you can depend on larry’s info concerning covid…..he is spot on.

    Apr 10, 2021 10:10 AM

    I still think its silly to say covid is a hoax.
    Too many people dead from it.
    The response? Thats another issue.

      Apr 10, 2021 10:26 AM

      Think what ever you want………..
      How about one big con job……..
      Flu…….cases 164 lol…… some home work….

        Apr 10, 2021 10:55 AM

        I will think what I like Jerry thank you. 😉

        Of all the things that can destroy us, covid and the response to it really isnt the #1 issue.

        If it is a hoax and it has peoples attention to the point they cant see anything else thats going on, it has done its job well.

        In my opinion, which I am entitled to, it is not the covid that is the issue, its the response to it.

          Apr 10, 2021 10:12 AM

          Yes you can think anything you want…… 🙂

            Apr 10, 2021 10:14 AM

            You should know more than anyone it is a hoax…….you have a lot of info,…which you have provided through out the years… just have to connect the remaining dots… :).
            concerning the NWO…and the Cabal ….just tie it together….

            Apr 10, 2021 10:18 AM

            Let’s call it a CON JOB….. 🙂

            Apr 10, 2021 10:21 AM

            just for your info……….
            since you might have missed it…..There is already a CURE….the ARMY invented it.. 🙂

            On April 9, 2021 at 4:16 pm,
            OOTB Jerry says:
            Cure for COVID EXIST………….ARMY has had for YEARS….and Kept a secret….
            George Webb……

            Apr 10, 2021 10:36 AM

            What doesnt make sense, the army has the cure to covid.

            That would be worth untold billions, trillions more like.

            Doesnt make sense for a capitalist country.

            That kinda underestimates the wonderful sin of greed imo. 😉

            Apr 10, 2021 10:00 AM

            Follow the dots……… I just posted another article at Fake Russian Hoax,

            Apr 10, 2021 10:28 AM

            I really don’t have to follow the dots anymore Jerry. And, you really don’t either!

            Apr 10, 2021 10:02 AM

            Capitalist …. front running the entire fake stock market….
            Pentagon missing $40 to 140 TRILLION….

            Apr 10, 2021 10:12 AM

            Food for a lot of thought, Jerry!

            Apr 10, 2021 10:23 AM

            Thanks OWL……..hoping you are having a great day….

            Apr 10, 2021 10:25 PM

            Not bad, have some physical problems but I am constantly working on each one.

            Apr 10, 2021 10:49 AM

            Geez Jerry, between you and Larry this blog really is sounding doom and gloomy, we all dead for sure.

            I think the biggest threats are the killing of the oceans and the AI, nukes are big too but I have faith (no reason other than its in their best interest) that China and Russian leadership will control the muppets of the west enuff to prevent it.

            This covid, real or hoax is minor compared to those issues.
            Worst that could happen is everyone turn into zombies, watch the people walk down a street starring at their phone and tell me they are not already zombies. 😉

            Apr 10, 2021 10:21 PM

            Thanks for the sanity, B!

            Apr 10, 2021 10:40 PM

            I would not necessarily call it gloom and doom. I would simply call it alternate opinions to think about and consider.

            Apr 10, 2021 10:42 PM

            b…. there is no doom and gloom……..if, you are awake…..and have the info.
            The public is asleep… with regards to their “rights” and health.

            Apr 13, 2021 13:56 PM

            b……… you told larry……. you got your shot…..
            gee……I guess, you never read any of the post on COVID CON JOB….

    Apr 10, 2021 10:16 AM

    Just out of interest, I read an article about modern medicine treating maladies, and not curing.
    Alot of what Larry has been saying.

    It was on a russian site so I wasnt sure if people would be interested.

    It certainly went into depth tho as well as the mic,insurance,education all lobby groups having influence on the american government.

    They could be the “owners” G Carlin was talking about.
    Well, at least they would be on their christmas card mailing lists.

    Apr 10, 2021 10:35 AM

    Thanks, Cory. I liked Steve Pennypacker’s prediction of $300 silver. $500 would not surprise me given the lunatics in charge.

      Apr 10, 2021 10:57 AM

      I like it too – also his comparison with uranium

      Uranium can double and then there will be enough supply
      Silver can double, triple, quadruple, quintuple, sextuple, septuple, octuple, …

        Apr 10, 2021 10:10 AM

        Hi Thomas…. Hell that was a lot of uple’s…BTW , whats an uple……………………lol

        Apr 10, 2021 10:53 AM

        Yeah – should have said, Uranium is a 2-bagger only and Silver is a 10-bagger -:)

        Apr 10, 2021 10:05 PM

        I also enjoyed getting Steve’s (aka @SilverChartist) thoughts on the similar risk and reward profiles between Silver mining stocks and Uranium mining stocks, and both are quite volatile, but still represent good opportunities as their respective underlying metals run from the high $20’s and $30 up to $50 in the medium term, and even higher longer term. I’ve well positioned with a basket of miners in each of those sectors, and am constructive on both to create outsized returns in the next 2-3 years.

          Apr 10, 2021 10:08 PM

          Precious Metals Update! – Steve Penny (@SilverChartist)

          I Love Prosperity – Apr 9, 2021 #VIDEO

          “Steve breaks down some very important updates for gold and silver and investing in precious metals. Steve shows some background on the mining stocks and what silver mining stocks are starting to do.”

          Apr 10, 2021 10:17 PM

          If he is right with silver going to $300 than royalty companies with a good silver exposure would a good choice, I think

          WPM 40%
          MMX 21%
          NSR 20%
          OSK 18%

            Apr 10, 2021 10:04 PM

            I wonder which of my stocks will do best with silver @ 300: PSLV, WPM,PAAS, AG, EXK, AXU,

            Apr 10, 2021 10:56 PM

            Jeff is pretty bullish on Silver, expecting the all time high to get tested by the beginning of next year.

            Personally, I’d be thrilled if Silver got up into the mid to high $30’s by the beginning of next year, as the mining producers would be absolutely printing money at those prices, and the development stage companies projects would be quite attractive as their economics surged higher.


            Jeff Clark – Silver Will Hit $50 By January

            Cambridge House International – Apr 10, 2021


    Apr 10, 2021 10:33 PM

    Gary Wagner: Gold & Silver Price Rebound: Is it finally here?

    Kitco News – Apr 9, 2021 #TechnicalAnalysis

    0:00​ – Silver
    7:32​ – Gold
    11:00​ – Economic outlook

      Apr 11, 2021 11:40 AM

      Bring on the party, it’s been a long time coming !!!!!!!!!!!!!! DT

        Apr 11, 2021 11:29 PM


      Apr 12, 2021 12:50 AM

      Enthusiastic Gold investors everywhere are wondering…has gold finally bottomed?

      Peter Krauth – Apr 07, 2021 – FX Empire

      “Technical action in the gold price is beginning to look bullish. We may have a double bottom, wherein the recent low established a bullish higher low. And both the RSI and MACD momentum indicators are rising, confirming the rising trend.”

      “The action in gold stock prices is similar. Using the VanEck Vectors Gold Miners ETF (NYSE:GDX) as a proxy, we see several bullish signals. GDX has recently closed above its 50-day moving average and broke out above its falling trend channel. It too has established a higher low with rising buying volume. And both the RSI and MACD here are confirming upward momentum.”

      Apr 11, 2021 11:29 AM

      Thanks CFS. I always learn a lot from Stephen Leeb Best, A

    Apr 11, 2021 11:49 AM

    Matthew thanks again regarding ktn.. I made a mistake above I have 75,000 worth of impact silver at .29 average when you had told me. Actually you may have told me at even lower prices. I wish I would have dropped way more but that’s life. Always looking to add more silver exposure and impact and ktn along with maybe 2/3 more is the way I will play it safe. It’s also reassuring you guys are in it.

    Stockcharts down since yesterday 🙁 did the teck guy go on break?

      Apr 11, 2021 11:33 AM

      Glen same goes for Silver crest as a twenty bagger!!

        Apr 11, 2021 11:05 PM

        Ditto! +1

        Silver crest pretty solid thanks for reminding me.

        As most of you know I hold a tighter ship with my portfolio so it’s highly important that I narrow it down to another two or three aside from impact.

        Great recommendation!

          Apr 11, 2021 11:04 PM

          Here is my recent lineup weighted most to least. Vizsla, Discovery, Silver Tiger, Blackrock, Metallic, Summa, Silver Viper, Southern Silver, Aurcana, Vangold and Bayhorse at the back of the pack. After listening to some of the comments this weekend about shortages in Silver, I will be looking closely at the next week to maybe do some adding to one of these …or not. Do not want to see a Monday smash, but whatever happens I will see if I get the standard in channel rotation. ?? ?

            Apr 12, 2021 12:28 AM

            That’s a solid silver lineup David. When things finally do get going again in the PM sector those kinds of companies should move up nicely. Of course, if we do see the weakness in the PMs, with many technicians calling for $22 silver or lower, then they also have the potential to outperform to the downside until the corrective move has run it’s course.

            Apr 12, 2021 12:18 AM

            You are right about downside risk in my portfolio. I have been liquidating Great Bear long term profits and moving some with short term losses back into Great Bear to keep my share count up. I was tempted to add to some of my silver stocks but my best mover lately has been Ely. I almost bought Elemental this AM, but added to Ely instead in hopes of some gains to offset some of my tax bill. The downside is that we get hit before May 17.

        Apr 11, 2021 11:20 PM

        Agreed Andrew de Berry. Silvercrest is quality, and has been on sale recently, so good for accumulating it.

        Silvercrest is one of my largest Silver positions along with Impact Silver, Santacruz Silver, Silvercorp, and Silver Tiger. Then, my portfolio has significant medium sized positions in Alexco, Coeur Mining, Endeavour Silver, Excellon Resources, Golden Minerals, Aurcana Corp, Kootenay Silver, Dolly Varden Silver, Metallic Minerals and
        Vizsla Resources Corp. Then I have smaller positions in Bayhorse Silver, Kuya Silver, Discovery Metals Corp, Defiance Silver, Blackrock Gold Corp, Reyna Silver Corp,
        Brixton Metals, and Orex Minerals Inc.

          Apr 11, 2021 11:23 PM

          Depending on how things go with the gold miners, I may sell some of them to get my Hecla position back again, and also grab shares in Vangold, GR Silver, and have considered Silver One, Aftermath Silver, Summa Silver, Silver Dollar, Decade Resources, Eloro, and Souther Silver.

          Apr 11, 2021 11:40 PM

          What a feast of good picks Ex!

            Apr 11, 2021 11:31 PM

            Bon Appétit

    Apr 11, 2021 11:09 AM

    Hello Andrew….Great to hear from you again, where have you been hideing . I hope all is well with You & Yours

      Apr 11, 2021 11:38 PM

      Hi Irish. Thanks for kind thoughts. Yes I’m fine….just absorbed with all the mayhem while trying to stay sane. PMs are VERY close to going mental!! Stay safe., A

        Apr 11, 2021 11:11 PM

        Andres, PM’s yendo psíquico ↕️🤔

    Apr 11, 2021 11:44 PM

    Prince Philip took the Covid jab in January. A common side effect of this vaccine is death by coincidence.

    Apr 11, 2021 11:39 PM

    Powell on 60 minutes putting all ills of Wall Street on retail…sick.

    Apr 11, 2021 11:00 PM

    For anyone following Excelsior here’s an interview with Mark Morabito and he does mention Excelsior

    Apr 11, 2021 11:48 PM

    So far they are working on another Monday Smash.

    Apr 12, 2021 12:35 AM

    GDX vs GLD/Gold topped before $GDX last summer and bottomed before $GDX last month so it makes sense that GDX looks a little better vs gold than dollars right now. Even if this is not quite the start of a major move (and it could be), the potential for GDX to quickly rise 40-50 percent is very good and getting better.
    GDX:GLD daily:

    Apr 12, 2021 12:47 AM

    This is good news for the uranium market, Cameco to restart Cigar Lake.

      Apr 12, 2021 12:14 AM

      One could also look at it as a negative as more supply will be coming to market at a time that the price was moving up due to shortage…….of course I have to point that uranium royalty has a royalty now on cigar lake….just sayin

        Apr 12, 2021 12:21 AM

        Agreed Wolfster, it was more bullish for the Uranium sector the longer Cameco was down.

        Denison also has a 22% stake in the McClean Lake Mill, which processes the ore from Cigar Lake, so that will start bringing in a bit more revenue for them… just sayin.

          Apr 12, 2021 12:53 AM

          Touché ….lol

          Apr 12, 2021 12:03 AM

          FWIW: Denison and Azarga are 2 of worst performers of the day so far. Makes me want to buy more.

            Apr 13, 2021 13:45 AM

            Yes, the Cameco news about Cigar Lake reopening created some near-term pressure on the Uranium stocks, so if they continue to pull back, then I’ll look to start adding to existing positions a bit myself.

      Apr 12, 2021 12:17 AM

      Actually the longer Cigar Lake was offline, it only pressured the supply side more and would force the utilities hand to start a new contracting cycle. However, since Cigar Lake was only shut down due to Covid at the end of last year, then it was just a matter of time before it came back online. The other thing to consider is Cameco is one of the few companies other than Kazataprom that still has any off-take contracts in place, so they needed to get back to producing something, with so many other Uranium companies like Denison, Uranium Energy Corp, Uranium Royalty Corp, enCore Energy, and Boss Energy all buying up Uranium in spot market. That buying from other companies may have forced Cameco’s hand to get producing again, as they had been one of the few buying in the spot markets lately to fulfill their contracts, and other U companies just took away the punch bowl.

      From the release:

      “we have a home in our contract portfolio for these low-cost pounds. We will also continue to purchase material, as needed, to meet our committed deliveries.”

        Apr 12, 2021 12:36 AM

        That’s true Ex, the beauty of life is that we don’t have to agree with each other. On the other hand I currently don’t own any uranium stocks but this might give others who felt they have been left behind a chance to get in at lower prices. It only delays the inevitable. DT

          Apr 12, 2021 12:55 AM

          In all fairness Cameco is the elephant in the room when it comes to the uranium market, covid or no covid they could have kept Cigar Lake shuttered but they chose a restart. To me that is also saying we know prices are going higher it takes time to get a mine back in operation and we see higher prices and we will be there to pick up the profits through production. DT

            Apr 12, 2021 12:27 PM

            Good points DT. Yes, we often can learn more in a friendly disagreement, when we hear other’s perspectives, consider different outlooks, and mull over ideas that challenge our personal thesis. I sure appreciate the range of ideas folks present here.

            As for Cameco, I agree with you that they are the main elephant in the room, along with Kazatprom, and that if we see Uranium stocks soften as a result of the Cigar Lake restart, then investors that missed the epic move higher in Uranium stocks, over the last few months, will now have the opportunity to load the boat during any weakness.

            As for the restart of Cigar Lake, Tim & company at Cameco had indicated that they did want to get things going again when it was safe to do so with all the Covid issues. However, some believe they may have hastened the decision when they saw all the other Uranium companies start mopping up the spot market’s inventory; because Cameco has gotten used to it being easy for them to just buy in the spot markets to deliver into their remaining off-take contracts. Now the cheese (or in this case, yellow cake), is moving…

    Apr 12, 2021 12:47 AM
    Metals (active). Topping soon?

    Apr 12, 2021 12:12 AM

    Thanks to everybody david, ex, wolf Matt white your charts as usual and all your great thoughts on the different companies

    Dan from Calgary sorry I did not respond to you the other day. Great vechicles to use when you need exposure to short or long via the etfs Canadian style that you provided. I can confirm I have used them both.

    Gold update!

    Said it Friday target down was $1717-$1727 I also have it in my head gdx 36/37 at least in this move.. got very close on gold price to the $1730 so let’s see what gives. I’m expecting some more juice up “ however” if the move is done and we break the $1717-$1720 ish are it will negate up and we are moving down as I suspect.

    Either or be ready in any event

    Cheers guys all the best

    Apr 12, 2021 12:13 AM

    Added to Freegold based on some interesting drill results which indicated small grade with big widths. Some movement. Also getting movement in Maritime, but don’t know why. Also Metallic movement but they had good drill results last week. Currently my account in a holding pattern on the negative…I just assume the people with the algos are at lunch.

      Apr 12, 2021 12:20 AM

      Before I forget, Sun Summit has been moving lately. I think they had some good drill results recently or a good hole…something seems interesting to buyers. SMREF in US for those interested in checking it out.

    Apr 12, 2021 12:24 AM

    Glen……….this is for you….Covid deaths….are third rate… 🙂

      Apr 12, 2021 12:26 AM

      Like I said……..big Con/Hoax

    Apr 12, 2021 12:51 AM

    Hey Jerry thank you for the info 🙂

    Sorry guys I promise to take this talk over to the political venue.

    Ex I have not read it completely but great summary and scary shit we are living. Regarding your post in political section.

      Apr 12, 2021 12:00 AM

      Hey Glen……they better know what is going on ,this is not political…. better to be healthy than Ignorant … 🙂

      Apr 12, 2021 12:02 AM

      You may want to avoid the political venue as there is a Pandemic going on there. 🙂

      Apr 12, 2021 12:39 PM

      Thanks Glen. Yes, we live in wild times… and getting wilder by the day!