Jordan Roy-Byrne – Look For A Recession Later This Year That Will Drive Gold

February 22, 2023

Jordan Roy-Byrne, Founder and Editor of The Daily Gold joins us to look further out this year when he thinks a larger recession will hit. We tie this macro view over to why this will benefit the precious metals sector. Carrying over to the charts we have Jordan outline the levels he is watching for GDX. After 12 out of 14 days down the GDX is now oversold and breadth is almost down to zero.




Click here to visit Jordan’s site – The Daily Gold

    Feb 22, 2023 22:09 PM

    Mickey Fulp…………was a good one yesterday at Kitco….

    Feb 22, 2023 22:35 PM

    IPT, Impact, some bellwether.

      Feb 22, 2023 22:49 PM

      … the definition of a dead cat bounce.

      IPT, weekly has more room to go down.

        Feb 22, 2023 22:55 PM

        hopefully you didn’t swallow that kool aid Dan
        It has been but not for the upside. The exact opposite.
        Your post however will bring on the wrath of the site guru.

          Feb 22, 2023 22:07 PM

          I’m a big boy and can take it, the chart does not lie, there is something either wrong with IPT or there is a bunch of buy and holders in it that are now getting squeezed. I may blow out my last bit for tax loss and go for a stock that moves better. IPT may move up but prolly not until there is a definitive sign of the interest rates dropping, that does make it a bellwether but there is no fun trading in between.

            Feb 22, 2023 22:03 PM

            Starting to nibble again on a biotech stock and gold stock. Will start to build a long term position in the coming months. There is no hurry due to the expectant general market downturns and the alleged Fed hawkishness. As mentioned a plethora of times, this year will be a basing year for the PM stocks and the values for some will get even better. Where is Joe when we need him?

            Feb 22, 2023 22:15 PM

            I’ve been trading more and investing less, I agree with yours and Jordon’s view that there are a few months left of chop.

      Feb 22, 2023 22:32 PM

      The way IPT behaved since the Sept. low and topped ahead of most of the sector, you could easily make the case that it has been quite the bellwether. Did it “predict” this correction or was it a coincidence brought about by the recent acquisition? Either way, the bears have been weaklings so far if volume means anything (and it does). To expect any miner not to fall after announcing an acquisition AND a possible financing is just foolish. Nevertheless, it’s worth noting that GDX, GDXJ, SILJ are down about 20% while IPT is down around 27% — BFD considering the upside potential.

        Feb 22, 2023 22:47 PM

        Beware anyone who calls a 4 month 55 percent move up in the senior miners part of a basing. The real bargains happened when Joe and his fan were only looking LOWER.
        To Joe’s credit he seems to be aware that the basis for his outlook wasn’t sound which might be why he’s not here with his delusional fan pretending to have been right all along.
        The XAU is still up 27 percent since bottoming in late September.
        Love that fork action!

          Feb 22, 2023 22:56 PM

          It’s pretty obvious when one doesn’t know how to read long term charts that one doesn’t understand what long term basing is.

            Feb 22, 2023 22:21 PM

            How convenient. Of course markets are fractal like everything else so you can always find basing action of any size/scale you want. By golly IPT has been basing since 2006! Just wait until it breaks out and never mind the 10-bagger you’ll miss on the way!!!
            The fact is, you did nothing but downplay the giant move of 2016 instead of admitting that you blew it. Then you looked for lower prices at every important low following the major low of 2018 and it’s no different this time. An obvious low happened months ago yet you were looking lower instead of recognizing it. I’m sure it’ll be the same at the next low and it won’t matter if it’s a higher low or a lower low. I’d be crazy to bet against your record.

          Feb 22, 2023 22:49 PM

          Speaking of delusional, IPT is about as much a proxy for the market as a flip of a coin.

        Feb 22, 2023 22:13 PM

        I think it is weaker than it should be but that is good reasoning, thanks, I’m looking into using the adv/dec line more in my charts. I get cranky on Fed babble days, haha.

          Feb 22, 2023 22:18 PM

          … I meant accum/ dist line.

    Feb 22, 2023 22:36 PM

    NatGas Bottom Confirmed.
    Minutes Hit PMs.

    Feb 22, 2023 22:21 PM

    In light of the oversold conditions in most of the PM mining stocks, and after a pretty good run in JDST where I’ve scaled out a few times, I elected to cash out the rest of my JDST position today (with the remaining portion being a 36% return just in the last few weeks). That’s good enough for me, and I want to use those hedge profits to add to a few PM mining stock positions through the balance of this week, now that they’ve corrected nicely once again.

    Feb 22, 2023 22:51 PM

    Gold Prices Are Knocking On The Door Of New Record Highs

    Jesse Felder – The Felder Report – February 22, 2023

    Feb 22, 2023 22:59 PM

    Watching AGnico, I think fate of GDX is pretty much how AEM trades in coming days and weeks. Personally I fear it’s going to revisit November lows.

      Feb 22, 2023 22:05 PM

      AEM is at least one of the better if not best bets. Same with AGI and TGX.
      It has had repeated action at 40 +/- or so from late July thru Nov. which will likely hold. Shoud result in another pop up worth leveraging soon with option calls.
      If / when it starts to outpace the underlying metals it produces, then worth holding. Can always exercise your options if its a home run.

    Feb 22, 2023 22:48 PM

    Avi Gilbert has recently turned bullish on PMs. Between him & Doc, time shall tell…

      Feb 22, 2023 22:25 PM

      That’s interesting to note with regards to Avi Gilburt, as he has not been bullish on the PMs in quite some time, and has been bearish for the last few years… and rightly so.

        Feb 23, 2023 23:14 AM

        try……….. 15 yrs…. 🙂 Avi the lost….

    Feb 22, 2023 22:24 PM

    DT – The news we had been expecting has just arrived regarding Superior Gold being taken over by Catalyst Metals. (Check).

    I had only recently got back in position with an initial starter position in Superior, and had even contemplated buying a 2nd tranche both today and yesterday… but alas, I didn’t pull the trigger. I have a handwritten note to add some more tomorrow or Friday… anticipating the buyout was near, but then boom it came before I could get more fully positioned.

    Oh well, at least I had a tiny seat at the table, for yet another acquisition that will likely piss off a host of longer-term buy and hold investors once again…. (just like Corvus, Alexco, Gold Standard Ventures, and Sabina as of late). However, as discussed previously, if one feels a takeover is looming and gets positioned in a short to medium-term window in front of it, then one can still profit from the takeover premium, as I did in 3 out of those.

    SGI has been a bit of a cluster though, and initially it was one of the ugly duckling turnaround stories I felt could reinvent itself (like McEwen Mining and Americas Gold & Silver). However, they took a turn for the worse when they kept missing deadlines, underperforming quarterly guidance, and then had to fire the contract workers at the open pit and shut down mining there, focusing instead on the underground mining as of late.

    I had sold out of it last year for a loss when the further complications arose, but on the positive side, at least I jumped back in to recoup a little on this takeover trade. It’s just a shame I didn’t add more in the last 2 days to magnify the return on this acquisition trade… but that’s how it goes sometimes. I even put in an limit order towards the end of the day today that never got filled (thinking no big deal, and I’ll just add some more tomorrow). Darn…

    It was clear a merger between Superior and Catalyst was inevitable, especially after the Catalyst takeover of Vango (which held shares in both companies). I felt there would still be a few weeks to a few months though before an announcement, but apparently, in lieu of the wave of recent M&A deals, they just got in the spirit and pulled the trigger now.


    Superior Gold Announces Proposed Acquisition By Catalyst Metals

    @newswire on 22 Feb 2023

      Feb 22, 2023 22:42 PM

      Depending on how much Superior Gold jumps on this news tomorrow, I’ll either sell it then or wait and see if it gets a bit more premium by Friday. I guess I’ll just take the capital and small profits and roll them into my next ugly duckling turnaround story…. Argonaut.

      Yep, I’m back in that bruiser with a starter position and was wanting to add a 2nd tranche in it, and will just roll these Superior Gold funds and takeover premium into the next tranche of Argonaut.

      Ever upward!

        Feb 23, 2023 23:50 AM

        Stink bid -ARGNF @ $.346

    Feb 23, 2023 23:22 AM

    Good start for my account with good drill results by Emo …again. Took about 30 mins to take my account negative coming to the end of 6 weeks of downward movement in the capped range. Intervention is the only thesis that holds water.

    Feb 23, 2023 23:54 AM

    I have a feeling this gold correction will end in an old fashioned blood bath way, A relief rally then again November undercut. I’m on the sideline for now.. If Plunger is correct, early may will give us another opportunity to load up cheap shares.