TG Watkins – Rotation Into Commodities and Commodities Equities, Here’s How To Trade It!
Money is rotating big time into commodities and the underlying equities.
We chat with TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot website joins us to share how he is playing gold, oil, copper and the equity ETFs for each. We also discuss volume trends and the overall market balance between bullish vs bearish.
Click here to visit the Profit Pilot website to keep up to date with TG and what he is trading.
Good annual earnings from Guanajuato Silver including Gold, Silver, Lead, Zinc. They even released the earnings after normal close on a Monday. Wise move.
Yeah, I saw that better quarterly operations report from Guanajuato Silver. They are starting to trend in a better direction.
IPT hit a 52 week high today which impressively erased the large decline in those 52 weeks. It was 172% off its low today and is extremely overbought.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=1&mn=3&dy=0&id=p51010133051&a=1651623902
Gotta love the noise around here at the low of just 6 weeks ago…
jon syl
Feb 26, 2024 26:07 AM
Judging by the posting on this site, the forever gold bulls of past with their jubilation and accumulation of the dregs are now in the hole where there is little point to sell, and no cash to buy whenever the next pop up occurs.
Go IPT the banner stock that sucked in so many to buy lower lows and the opportunity just keeps happening LOL
Matthew
Feb 27, 2024 27:29 AM
Like IPT, my “jubilation” is just fine. I have more IPT than ever and am perfectly comfortable with it.
Back into Impact late this time, but end result is better. + 104%
Hi Matthew, what are thoughts on ASM Avino Silver? Moxie just triggered a buy on weekly after a long long time. I bought some.
Hi CaliJoe, overall it looks great and is behaving as it should for a stock worthy of holding through a bull market but it is short term overbought and at resistance so it may stall/pullback here if silver shows any sign of slowing. A pullback, especially a “sharp” one, would make it an easy “buy” in my book or “buy more” in your case. I don’t own it but I’d keep it if I did.
Daily:
https://stockcharts.com/h-sc/ui?s=ASM&p=D&yr=1&mn=3&dy=0&id=p02985764865
Matthew, I appreciate your input. Cheers!
Fwiw, I’m guessing that silver is more likely to show even more strength from here unless sellers can stop it right here, right now because it is currently breaking out versus gold. Any short-squeezing that’s going on is about to intensify…
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=0&mn=9&dy=0&id=p36385346863&a=1649500961
For all the river boat gamblers of KER, moxie triggered a buy on UNG
Thanks for the update!
It’s quite funny that there are even fewer comments these days than when Joe and jonsyl thought the lack of comments meant something profound. As usual Joe marked an important low with his junk analysis…
Joe
Feb 17, 2024 17:25 AM
You’re weekly dose of PM hopium.
Inflation isn’t going away.
Rates will go up, not down… and so will the price of PMs.
Mining stocks will continue to wallow in the mud while tech stocks continue to double every year.
By this time next year, there will be half the number of people posting their thoughts here. That means there’s going to be one or two people posting here.
Have a great weekend.
So what did I say that very day?
Matthew Feb 17, 2024 17:27 PM
IPT is a buy buy buy right now though not necessarily for the short term trader. It just filled its little gap from Feb. 8th 2016 and is quite cheap.
As I told Joe repeatedly gold and interest rates often rise together and for the same reasons. It happened during the huge inflation of the ’70s and it’s happened since gold bottomed in 2022 at 1618. Gold is up 45% since then despite several more rate hikes during its rise.
And the dollar-focused crowd should finally understand that it’s a big mistake to think that the dollar’s strength or weakness relative to other currencies is an important consideration when sizing up gold. But of course they’ll never learn.
When silver was still around $23:
Matthew
Feb 17, 2024 17:21 PM
Silver, at least short term, hasn’t looked so good in months. Longer term is still all clear since late last year. It’s a nice (bullish) change that silver is now leading gold off of lows and holding its own during declines.
https://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=1&mn=0&dy=0&id=p55056688961&a=1607333969
When HL was still around $3.50:
Matthew Feb 19, 2024 19:35 PM
HL rates a buy/accumulate in my book.
https://stockcharts.com/h-sc/ui?s=HL&p=D&yr=1&mn=2&dy=0&id=p04622454907&a=1608030250
Cool Matthew. I’m loaded up on Brixton…
Me too and copper’s achievements lately (including a new 52 week high) should soon bring more interest to the company. I think a lot of investors are still nervous about copper only because they’re (correctly) nervous about the stock market.
Copper weekly:
https://stockcharts.com/h-sc/ui?s=%24COPPER&p=W&yr=5&mn=5&dy=0&id=p28609931818&a=1638725405
The 100 day MA has been capping Brixton since September so I’d like to see a close or two above it for starters. Then the .16 – .17 area needs to fall (that’s Canadian $ of course).
https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=5&dy=0&id=p17526288274&a=1650395849
Look at all those moving averages just above…
https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=6&dy=0&id=p20916928068&a=1365850513
After very minimal pull backs from ABCD(1:1) (23.6% or less) so far, it appears that Gold & Silver could break north to ABCD(1:1.272). If so, targets are: Gold ~2414 and Silver ~29 (spot).
(CXB) (CXBMF) Calibre’s Q1 Gold Production on Track to Deliver Full Year 2024 Guidance While Advancing Operational Readiness For H1, 2025 First Gold at The Fully Funded Valentine Gold Mine
Apr 9, 2024
https://calibremining.com/news/calibres-q1-gold-production-on-track-to-deliver-f-8187/
Matthew, you’ve been accumulating BBB for a while, what’s the strong case here?
It formed a nice double bottom (imho) and with the overall good sentiment it’s a no brainer up to 0,20-ish.
The strong case was and still is the great discovery potential of the company’s huge land holdings. Ivanhoe Electric/Robert Friedland and BHP ($153 billion market cap) became interested well after I did and have committed significant capital to Hog Heaven and Camp Creek, respectively. The copper discovery that caught BHP’s attention needs a lot more drilling and so does the Montana property that Ivanhoe Electric is operating so there will be plenty of news flow this year to drum up speculative interest. Hopefully they will also manage to drill the Trapper target soon since it hosts high grade gold and shows great potential. With gold on the move now would be a good time to drill for it!
The stock has traded around 12 million shares in the last 9 sessions while moving up about 50% which is a good sign when coming off of a multi year low. It also closed above its 100 day moving average today for the first time since August.
I agree that it is a no-brainer up to .20-ish but I am very unlikely to sell any near that level.
https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=5&dy=0&id=p98231853032&a=1650395849
Thanks Matthew, I haven’t got in yet but I’ll probably take a position soon.
Copper will definitely be an outperformer.
Do you have an opinion on AAG? I recently rode it from 0,19 to 0,35 and intend to reenter more heavily sub 0,29
I don’t follow AAG but technically it looks like a better than average way to play this bull market. Your reentry plan is reasonable but I’d probably layer my way back into it just in case it doesn’t pull back that far. It has already pulled back more than 13% since Monday’s high so I’d consider buying now and increasing the size of my buying if/when it goes lower. That’s based on my view that silver is going higher before it takes a meaningful break.
https://stockcharts.com/h-sc/ui?s=AAG.V&p=D&yr=1&mn=0&dy=0&id=p82022449659&a=1653006149
You’re probably right, I recall the bull in -20 – pullbacks were short lived and you were left behind very fast if you didn’t act.
I think we probably will see a wider pullback before we rocket up past 30. AAG is not a core holding but a tasteful spicy one.
My largest holdings are AG, HMY, Abra, Edr, HL, Scz, Sbsw, NFG and some other.
Let’s hope we all make some dineros on this bull.
TG’s Moxie indicator is good stuff.. it has become my goto when taking short term trades. It only works with weekly, daily and hourly. I wish it supported monthly also.