Comments on recent job data, US market weakness, and Bitcoin volatility

September 8, 2021

Ed Moya, Senior Market Analyst at OANDA joins us for an initial focus on the jobs data from Friday and job openings data this morning. This is all related back to the markets and of course the Fed and its policy. We wrap up the interview chatting about Bitcoin and recent volatility.

Click here to keep up to date with Ed’s daily market note.

    Sep 08, 2021 08:00 PM

    The gold miners are working on a major low versus the semiconductors…

    Sep 08, 2021 08:11 PM

    Dollar to turn or continue? :

      Sep 09, 2021 09:22 AM

      It has turned (92.4878) for now.

    Sep 08, 2021 08:47 PM

    Hey Matt,what are your thoughts on Galleon’s resource estimate??
    Looks like the market didn’t think much of it!

      Sep 09, 2021 09:59 AM

      Poko, I’m sure the cause of the selling was part disappointment, part sector sentiment and part selling the news as so many do no matter what. Possibly the biggest reason for the lackluster response is the fact that the company will need to do another financing soon to raise cash. Why buy the news when you might be able to get a better by waiting for a new share offering. Even if the offering is priced above today’s price, it will likely offer a warrant or at least half a warrant per share so waiting for it makes sense.

      The pending PEA will give us a better idea about the value of the company but I am confident that the current market cap $33 million is not a bad deal at all. Those ounces will provide a lot of leverage to increases in the price of gold precisely because they can’t be mined profitably at a much lower gold price.

    Sep 09, 2021 09:16 AM

    Penguin, you talk too much setting up your question. By the time you’re finished, you already answered your own question. All the guest needs to do is repeat what you said.

      Sep 09, 2021 09:45 AM

      Thanks, you know much I appreciate your constant insults each day.

      Again, if you dislike the content here so much, then rather than whine week after week about how you don’t like the topics, don’t like the companies we bring on, don’t like the guests, and now don’t like the questions…. Why not just not listen or go heckle some other site that you like more. Pretty simple concept.

      Why don’t you just start your own podcast and show us all how it’s done Terry?

        Sep 09, 2021 09:17 AM

        Terry, those comments are not called for. Name-calling, is a significant sign of a grade-schooler who is not sufficiently mentally equipped and therefore can’t use reason to make their point.
        Now, you may feel to respond with something like the sheeple have spoken, but that would only confirm what I’ve stated.

          Sep 09, 2021 09:29 AM

          Yes, Terry’s comments are certainly childlike.

          Sep 09, 2021 09:06 AM

          jonsyl/BDC, He writes too much and he talks too much and it’s time he eases up a little.

            Sep 09, 2021 09:18 AM

            Terry: Did Edward Gibbon write too much? Some people find value in details, others in expressing them. It would be best if you concentrate on the resource sector, which you appear to have knowledge of, rather than Shad, which you don’t.

            Sep 09, 2021 09:27 AM

            RED:AX is waking up if you want Aussie exposure.

    Sep 09, 2021 09:44 AM

    I think many are going to miss the big move! Gary has completely gone 360 with his latest call.. Folks I see miners starting to outperform gold. Many will be focused on what gold does and that’s classic mistake as some in here or very few have mentioned over the years that there comes a time the miners start to take the lead and I believe it’s starting this moment.

    Taking a look at a few miners as examples, Ann if you can recall I mentioned last month that I was starting to see a possible explosive move in Scorpio and bottoming pattern. It looks very good and the setup could take us to a very nice target quickly and swiftly.

    Impact silver sure looks like a bottom is in and if so I have an upside target 80’s and it could get there faster then many think.

    Brixton..what can I say, looking at the chart we could have one last quick dip and if it does happen consider it a blessing and buy with everything you have! With that said a bottom could already be in and the chart is telling me an explosive move is coming very very quickly and I’m not talking months or weeks..

    We have a long term bottom forming/formed which will propel us for 8-12 weeks higher before a rest and correction. The Intermediate cycle has plenty of legs left..


      Sep 09, 2021 09:15 AM

      The GDX double bottom this year must hold.

        Sep 09, 2021 09:05 AM

        Reason for concern would happen well above the 30.64 and 30.68 lows. For example, I don’t want 31.29 breached.

      Sep 09, 2021 09:10 AM

      I’m a believer IPT.

      Sep 09, 2021 09:15 AM

      I appreciate your insight Glennie. I would have thought you may have added AXU in that listing. The other day, you hinted that you were amassing a position in another particular gem but haven’t gone on to say what it is. 🙂
      I haven’t been a buyer in some time, but am thinking of doing some purchases into the end of this week. Right or wrong, I will probably look to favour junior and mid-size producers.

        Sep 09, 2021 09:33 AM

        Canuck thank you my friend for your thoughts as well! Since you asked I will gladly share. I can’t remember quite when it was but I mentioned awhile back I needed more exposure to silver and about 6-12 months ago ex made a nice list of explorers/developers/small cap etc. One that really Intrigue me for it’s potential is Klondike silver. Backed up by sprott and others, I expect this one to outperform when the sector really gets going.. My cost average is 5 cents and continue to add when it goes lower. Originally purchased it at 8 cents then at 4 cents 5 cents..

        Brixton looks like that dip is here we spoke of.
        Best of luck Canuck

    Sep 09, 2021 09:15 AM

    Precious Metals Royalty And Streaming Companies: The August Report

    Sep. 05, 2021 – Peter Arendas

      Sep 09, 2021 09:57 AM

      Printed this out. Hadn’t seen this before. Looks like August a bad month except for Altus Strategies and Nomad with a few breaking even. But, when the they take the cork out of the bottle, a report like this looks to be real handy.

        Sep 09, 2021 09:25 PM

        Yeah, I’ve been following Peter’s monthly royalty reports over at Seeking Alpha for some time now, because he recaps the relevant news in the sector and for each company down below in each report, which I find helpful for staying abreast of some of the companies I don’t follow quite as closely, or even with the ones I do or own.

        Since we have a number of people holding one or a few royalty companies, it seemed worth posting a link to his August report, because he covers most of them in his index of 20 royalty companies.

    Sep 09, 2021 09:14 AM

    Here we go again. Down to mid morning, and then as usual a rally attempt which flounders for rest of the day, as hope springs eternal. LOL

    Sep 09, 2021 09:29 AM

    (FFOX) (FFOXF) FireFox Gold Grows High-Grade Zone at the Mustajärvi Project in Finland with 16.45m of 7.69g/t Gold in Latest Drilling

    September 9, 2021

    Sep 09, 2021 09:31 AM

    (GBR) (GTBAF) Great Bear Resources Provides Complete Assays from Central LP Fault “Auro2” High-Grade Gold Domain and Update on Geological Modelling

    Sept. 9, 2021

      Sep 09, 2021 09:04 AM

      Let’s hear it for Great Bear. Rah

    Sep 09, 2021 09:33 AM

    (EXK) (EDR) Endeavour Silver Completes Feasibility Study on the Terronera Project in Jalisco State, Mexico. Robust Economics Supported by Larger Mineral Reserves, Higher Annual Silver Production and Longer Mine Life

    Sept. 9, 2021

    Sep 09, 2021 09:34 AM

    (CDE) Coeur Mining Provides Exploration Update

    Sept. 9, 2021

    Sep 09, 2021 09:36 AM

    (SIL) (SILV) SilverCrest Metals Announces Results from 2021 Infill and Expansion Drilling in the Babicanora Area

    Sept. 9, 2021

    Sep 09, 2021 09:39 AM

    (LWD) (LWDEF) Lakewood Exploration Reports High Grade Surface Samples, Including 1540 g/t Silver and 6.88% Copper; and 1410 g/t Silver 5.41% Copper at Eliza Silver Project in Nevada

    Sept. 9, 2021

      Sep 09, 2021 09:25 AM

      I haven’t heard of Lakewood before. Looks like it is samples which always seem higher than the drills, but name to keep track of. It appears they are going into a brown field operation which I am getting more comfortable over time as there are often some old records of drills or production under less than modern techniques. I will have to keep Lakewood in my head. I had relatives in the Old Days from Lakewood Ohio in Cleveland. That initially caught my attention until I saw the silver and copper combination above. Thanks EX.

        Sep 09, 2021 09:37 PM

        I got positioned in Lakewood a few weeks back based on an article that Jeff Clark wrote, that I mulled over after having talked with management back in July, and when they announced on Aug 9th about picking up the 2 projects in Nevada, to compliment the one in Idaho. Yes, agreed that rock chip samples are nice, but not necessarily reflective of what the drills will hit, and the drill assays are primarily what will truth it out.

        That is funny David as I also thought about Lakewood Ohio too, having spent over a decade of my formative years growing up near the Akron area (close to Lakewood), was often in downtown Cleveland driving through Lakewood, and then spent summers up on Lake Erie in Sandusky on the other side of Lakewood. That was post Evansville, IN, and the California period in L.A. and San Fan, but before Cincinnati, Knoxville, and Nashville.

    Sep 09, 2021 09:40 AM

    (VG) (VLMZF) Volcanic Gold Mines Drills 6.52m @ 16.31 g/t Au at Holly Project in Guatemala

    Sept. 9, 2021

    Sep 09, 2021 09:07 AM

    Gold Puts on Dancing Shoes

    by Sean Brodrick | September 9, 2021

    “A lot of investors hate gold right now. Hate it!”

    “And for good reason.”

    “It’s underperformed lithium, rare earths, copper, aluminum, palladium, platinum and most recently, uranium.”

    “While all the other girls are jumping out the convent window to go to the town dance, gold lay in bed like a lump, alongside her sister, silver.”

    “But recently, gold put on its dancing shoes…”

      Sep 09, 2021 09:08 AM

      I am so depressed. I read that “everyone” hates gold…everyone. I don’t and now I feel alone and lost.

        Sep 09, 2021 09:12 AM

        Do get too discouraged David. Sean just mentioned that “a lot” of investors hate gold right now, but surely not “everyone.”

        He’s correct that many other sectors and even many other commodities have done better, which is why it is wise to be diversified in one’s portfolios, but at this point the risk/reward set up is looking much more attractive for the PMs as a result of their relative underperformance to other asset classes and commodities.

          Sep 09, 2021 09:35 AM

          Right above the GDX Chart “Everyone Hates Gold”…I was reading along until that point. I was so hurt and became despondent. But, tomorrow I can buy some stuff…what to buy, what to buy…

        Sep 09, 2021 09:08 AM

        Don’t worry David, feeling alone is a good thing in this business and it’s the eternal pessimists that are lost.

    Sep 09, 2021 09:18 AM

    gotta be a pony in there somewhere
    bought KL january calls
    Glenfish made me do it. LOL

    Sep 09, 2021 09:19 AM

    my gdx analysis got me back into NUGT…Not to be taken as investing advise….This could be a trading cycle low here or near…glta…GLD very interesting unusual double test and rejection of .382 Fib retracement level…possible head and shoulder set up…time symmetry is still not correct…so no slam dunk…..

      Sep 09, 2021 09:54 AM

      Keep an eye on the Dollar, especially for these spot plays.

        Sep 09, 2021 09:03 AM
        Sep 09, 2021 09:11 AM

        The Dollar is not real. Keep an Eye on The Fed. Tricky dudes… 🙂

          Sep 09, 2021 09:33 AM

          Real or not, in the short term it has a direct effect on pricing.

            Sep 09, 2021 09:45 AM

            What else they got going for them that they can move around…

            Sep 09, 2021 09:54 AM

            It’s simply that which accepted pricing is based upon. Veracity of that basis is not important, at least in the short term.
            BTW, I missed a play like Larry’s earlier (via JNUG), but would have sold half at about the current level, put a tight stop on half of that, and a break-even stop on the remainder.

            Sep 09, 2021 09:08 AM

            This is it:
            The 50% sell point is double the buy based upon day low.
            Stops would have then been set at 63.04 and break-even.
            (Total initial ‘risk’ less than 50 cents.)

            Sep 09, 2021 09:20 AM

            That trade sounds like more fun than sitting on my hands. Congrats

    Sep 09, 2021 09:45 AM

    pgm looks so yummy at .98 cdn right now. More cheese in the trap???

      Sep 09, 2021 09:20 AM

      Agreed. It does look like an attractive spot to add even more, but I had already added a bit more yesterday in to the weakness on the financing news.

      Whether it’s cheese in the trap remains to be seen, but PGM is not pricey here by any stretch, nor was it 15-20% higher than where it is now. Even if it does pull back a little more, most of the downside is priced in at this point, and the upside potential warrants some speculative funds in my portfolio because I could see it being a 2-3 bagger+ in year’s time.

    Sep 09, 2021 09:04 AM

    Ex, thanks for feedback.
    should gold close above 1830 or so, it will likely be dynamite. There’s always an if.
    If it can’t stay above 1800, and closes at a low for this week, then maybe not end of world, but likely for another splashdown.
    Will see how the rest of day goes.

      Sep 09, 2021 09:42 PM

      Agreed jonsyl. Yeah, that’s the only thing we can all do is have a strategy “if” a target is hit on support or resistance, and take things one step at a time. Yes, I’d like to see gold get above that mid $1830’s resistance on a closing basis (preferably a weekly closing basis), and then next resistance is at $1851, then $1900, then $1919-$1921, then $1962-$1966, and finally the all time high at $2089. That is a lot of work still to do for the yellow metal, but a break in the high $1800s should get the momentum moving, and then a break into the $1900s should captivate more interest from the generalist investors still ignoring the PMs for the most part.