Mike Larson – 2023 Outlook – The Importance Of The Start Of The Year, Which Sectors Are Most At Risk, Where Do The Metals Go From Here?
Mike Larson, Editor and Chief at the MoneyShow joins us to share his outlook for markets next year. We start by asking how important early on trading will be for markets after the stronger 4th quarter of 2022. This leads into a discussion on sector specific risks and the risk of a a major shock/collapse. We also chat about the set up in metals, both precious and base as well as energy.
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This was a good discussion with Mike Larson in the interview above.
We also discussed just how different the bear market of 2022 was compared to the prior 2 years where there was a frothy investor appetite for many risk assets (from #StayAtHomeStocks and #MemeStocks to #GrowthStocks #TechStocks and #Cryptocurrencies). Mike mentions that now that much of the junk is being cleared out of the markets, that investors are in a more defensive posture and looking for value sectors like #ConsumerStaples, #Utilities, #Energy, and #PreciousMetals.
We get into a lot of topics from #Fed policy, and other #CentralBanks policies, to thoughts on the growing risks of #recession, ongoing stickier #inflation, weakness in #RealEstate and #manufacturing, and different strategies for investors to position heading into 2023 including $Gold, $Silver, and PM mining stocks.
Here’s an encouraging bullish editorial on the Precious Metals space from a more generalist fund manager that is not a gold bug and that has not been bullish the sector for a while.
Buying Gold Miners Hand-Over-Fist: Newmont Vs. Barrick Gold
Samuel Smith – Seeking Alpha – Dec. 27, 2022
“After a couple of lackluster years, we believe 2023 could finally be a big year for gold miners (GDX)(GDXJ). Newmont Corp (NYSE:NEM) and Barrick Gold (NYSE:GOLD) are leading blue chips in the sector. In this article, we will discuss our bullish outlook for the gold mining sector and compare NEM and GOLD side by side to offer our take on which is a better buy at the moment.”
Barrick Gold’s balance sheet looks pretty good these days after the huge share buyback. I think Barrick will be on the hunt for acquisition in the new year. If my memory serves me right, I believe Barrick wanted to merge with Newmont at one point and become the World’s largest gold producer, I’m glad that didn’t work out. For my money I would like to see them take a run at Kinross or Sibanye. We need some more fireworks in this sector. LOL! DT
In the mining business it is eat or be eaten. Too many companies that thought they were crown jewels got their jewels stolen from underneath them. LOL! DT
Newmont Breakout Soon?
Deeper NatGas Bottoming.
Rick Bensignor mentioned he felt Nat Gas was due for a turn higher soon and that he’d executed a trade on it last week to add more to his UNG position. It is looking like it’s in a good spot to start the next advance higher.
There will be No Pivot…Tikkun Olam