Weekend Show – Dana Lyons and Jesse Felder – Here’s What They Are Investing In For 2023

December 17, 2022

Welcome to another KE Report Weekend Show!


As was expected this week, we had volatility post Fed meeting. After a 2+ month run higher for most markets we might have seen a top this last week further driving home that we are still in a bear market.


In this Weekend’s show I am joined by Dana Lyons and Jesse Felder to discuss their outlooks for next year in a wide range of markets. Dana is more short term while Jesse is focused on economic data that he thinks will drive markets.


Please keep in touch to let me know what you think of the show. I love hearing your thoughts on markets, our guests and the companies we have interviewed over the past week. My email address is


  • Segment 1 and 2 – Dana Lyons, Fund Manager, kicks off the show by sharing his outlook for US Markets, energy and commodities. Dana’s internal models have been very good at playing the bounces and warning when markets are about to turn. We also discuss what will most impact the markets in 2023.
  • Segment 3 and 4 – Jesse Felder, Founder and Editor of The Felder Report wraps up the show by focusing exclusively on next year and an environment where central banks pause and rate remain around current levels. He addresses current investor outlooks that fail to consider the different environment markets are in. We also discuss why he thinks no one seems to care about gold even after this 2 month run higher.


Exclusive Company Interviews This Week



Dana Lyons
Jesse Felder
    Dec 17, 2022 17:09 AM

    Latest Iteration. Simplified.
    Energy Based.

    Dec 17, 2022 17:32 AM

    Jesse Felder talks about underinvestment in oil stocks but look at XOM; it has risen 4X from Covid low, how much more upside would you expect going forward? Time to invest was in summer of 2020.

    Dec 17, 2022 17:32 AM

    Where’s The Invisible Man, Ex? Are you still with us, Buddy! Maybe he went to bail Irish out of The Legion and got Legionnaires disease. LOL! DT 😉

      Dec 17, 2022 17:59 AM

      He’s on a mission to find Joe and talk him off the ledge!!!

        Dec 17, 2022 17:26 PM

        Haha! Good one Wolfster! 🙂

      Dec 17, 2022 17:25 PM

      Hi DT. I’ve been out of town this week visiting our families for the holidays since we can’t be there next week. My lady and I have had a hectic circuit visiting with people we haven’t seen in 2 years, so I apologize for having been MIA this last week. I tried to pop on periodically with my phone for a few minutes to read over comments, when I went in and out of cell range; but didn’t have time to respond. Looks like it was another wild week in the markets, and I didn’t even have time to make trades and missed a few good opportunities.

      I’ll be back in the saddle again on Tuesday of next week and Cory is doing a great job continuing to bring on some great guests and keep the fires of knowledge burning here at the KE Report. I’m still behind on listening to some of the interviews from this week, but hope to get caught up by downloading them and listening on the plane ride back. Cheers!

      May all the good folks in the KER crew have a great weekend and a prosperous end of the year in these wild markets. Ever Upward!

        Dec 17, 2022 17:56 PM

        Hi Ex, it will be nice to have you back in the saddle when the market really starts to take off. I think the precious metal stocks are ready to bust out, there is nothing quite as exciting as a “Bust Out”, wouldn’t you agree. I’m sure Matthew, Wolf, and the other posters would! LOL! DT😍

          Dec 18, 2022 18:10 AM

          Definitely looking forward to this next leg up…..from what the eye test says there’s a big move afoot in the silver jrs…last couple of days there’s been buying coming in during the last couple of hrs of each day that certainly doesn’t look like retail buying. Especially the case with Kootenay. All while the p ice of silver was down. I know we can have rose coloured glasses and be biased sometimes but I will say the obvious lame line that goes with that biased view …..”this time it looks different”……jrs like Kootenay and Brixton are in the technically overbought territory short term but still look like they have huge upside going forward. I’ll leave it to the resident expert to show charts to confirm it. I’m just adding the fact that simply having followed these stocks for so long one can see what’s different about this move vs past moves.

          Still have a few plays that exist as tax loss selling plays as that date is approached but many of the ones I follow have already turned to the upside. Emerita is one that appears to still be selling off due to that. Story is just too good going forward.

          Looking forward to the next update from Magna. Should easily get into the $1+ territory at the start of 2023

            Dec 18, 2022 18:47 AM

            I did really well the last couple of years in the oil/gas sector. Recently, I decided to buy a bunch of gold/silver stocks under a dollar. Some of my stocks took off last Friday… EXN, USA, BCM I have no idea why.

    Dec 17, 2022 17:48 PM

    I think Jesse commented on the fragile nature of the miners trend …..I am taking this seriously…With gold now closing over the weekly 9ema and positive macd on weekly, more is available…get cautious when the monthly macd lines kiss…imho

    Dec 17, 2022 17:40 PM

    Xi of Arabia and the petroyuan drive!

    China has been the largest importer of crude on the planet for five years now – half of it from the Arabian peninsula, and more than a quarter from Saudi Arabia. So it’s no wonder that the prelude for Xi of Arabia’s lavish welcome in Riyadh was a special op-ed expanding the trading scope, and praising increased strategic/commercial partnerships across the GCC, complete with “5G communications, new energy, space and digital economy.”

    Foreign Minister Wang Yi doubled down on the “strategic choice” of China and wider Arabia. Over $30 billion in trade deals were duly signed – quite a few significantly connected to China’s ambitious Belt and Road Initiative (BRI) projects.

    And that brings us to the two key connections established by Xi of Arabia: the BRI and the Shanghai Cooperation Organization (SCO).

    The Silk Roads of Arabia

      Dec 17, 2022 17:21 PM

      All the Americans can do is build a Disneyland everywhere cause that’s all the Global South needs from them.

    Dec 18, 2022 18:36 AM

    Ira Epstein Friday Metals Video – Silver

    This market’s acting like it’s on its way to embedded. Both number’s were over 80 this week. If I come back one more week both numbers over 80. They weren’t the week before. Give me one more week and I turn very aggressive on the bull side of silver. So I have to let this four day week go by me but that is what I am looking for. – Ira Epstein

    Dec 18, 2022 18:58 AM

    I agree Benjamin………………..the tide is turning……………….the PM markets already have sniffed out stagflation coming in the next six month…………..once Fed pauses……….and just holds…………..inflation may be pretty sticky (3 to 5 %) for a few years………..then it’s game on for PM crowd as the emperor will be tally naked !!
    No reason why the 70’s style dynamics won’t just come back to haunt the system……………for quite frankly the setup will be the same……………to much paper chasing a broken supply system………….

    It took years to drain the excess supply of paper…………..and will take years to restructure supply chains in a de-globalizing world ! The free lunch with endless lowering of the cost of money may have run it course ! Bubble everything is deflating as we speak ! YOY numbers in January, starting with the banks…………..will soon reveal the truth !

    Dec 18, 2022 18:42 PM

    Some interesting thoughts from the guests this week. Based on the really weak retail sales and PMIs, I’m starting to think Fed pivot might be as early as Feb and they don’t reach 5% Fed funds rate. So everyone looking for the big crash in Q1 will miss a big rally in everything. Longer term still see more downside in general market. I do still see way too much bullishness on the old leaders like FANGs – I’ve seen people talking about mortgaging their houses to buy Tesla for example. Wouldn’t think you’d see that at a durable bottom. Also see a lot of hype in general for green energy – copper, uranium, nickel. Wonder if PMs outperform those green metals in coming months. Plain old Gold might just lead the way in 2023. I don’t expect a big rally in bond prices either. Too much of this inflation is structural and has likely only started to break out as globalization ends and labor gets some pricing power back from owners. I’ll be a contrarian and say Jan to June best part of the year for the market and sell in May and go away will be the best strategy in 2023. Thanks for all the staff does at the KE report. Merry Christmas and Happy New Year. Hope there are some exciting new discoveries on the gold and silver front – would be exciting to see a few more Snowline’s show up this year.

      Dec 18, 2022 18:04 PM

      I think this move to get people to buy electric cars is nonsense for the immediate future, I am bullish on precious metal stocks, but base metal stocks will not perform that well. The economy is in for a protracted slow down and when the conventional markets crash base metals are not going to fair well. DT

    Dec 18, 2022 18:38 PM

    Now that Barrick will go forward with Pakistan copper project what will happen with Novagold Donlin? Does it go on the back burner? What about the idea that they would take a run at Kinross?

    Dec 19, 2022 19:29 AM

    AG is about to tag its rising 100 dma from above. Really would not like to see it close below that key MA (which means it will probably happen). I would call it a buying opportunity if I didn’t already have a full position. The 50% fibonnacci retracement comes in around $8.14. Next level of support would be the 61.8% level coming in at $7.70, which would be my actual worst case scenario in terms of a correction and a great buy level.