Trends in the Markets – Hour 2
Hour 2:
Click download link to listen on this device: Download Show
- Segment 5-6: Glen Downs and Chris Temple of the National Investor chat politics and the economic factors of the election.
- Segment 7: David Morgan of The Morgan Report joins us to chat about a new private company he is heading up as well as the trends in the PM space.
- Segment 8: A new guest, Chris Vermeulen, TheGoldAndOilGuy.com, chats about his negative outlook for the US markets and where he sees the price of gold going.
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Click download link to listen on this device: Download Show
Cory, you forgot to to talk about oil with the gold and oil guy?
That is like talking with Colonel Sanders about quantum mechanics and not asking him about his secret receipe!
🙂
Great show again folks. Have enjoyed listening to it this morning. Replayed a few segements several times.
Funny Colonel Sanders analogy.
Does Col. Sanders prefer gold, silver, or oil?
Oil.
KFC products are fried in oil which may contain the following: Canola Oil and Hydrogenated Soybean Oil with TBHQ and Citric Acid Added To Protect Flavor, Dimethylpolysiloxane, an Antifoaming Agent Added OR Low Linolenic Soybean Oil, TBHQ and Citric Acid Added To Protect Flavor, Dimethylpolysiloxane, an Antifoaming Agent Added.
Sounds tasty. Antifoaming agent lickin’ good.
Yum!
I personally ha not eaten there for over twenty years.
It’s been about that long for me too Big Al. Nasty business.
In a moment of desperate hunger, I once picked up a KFC Snack Pack. Couldn’t finish it, so through it in the dumpster. So a stray dog pick it up out of the dumpster and ate it. As soon as it finished, it licked it’s behind. I suppose it wanted to get the taste out of his mouth.
Funny Rand. That about sums it up. From a bad idea, to trash, to dogfood, to and after dinner mint.
“an” not and
We shall see if it actually pans out, Bob.
Good point Al.
Hillary has hitherto managed to suppress the appointment of any special prosecutor for her case.
The FBI, even if they decide to indict, can’t. Any indictment HAS to come from the justice department, which is totally controlled by the devil incarnate and his minions. So it is all in the Big Zero’s hands.
“The country was not in all that bad shape” until Bill Clinton, says Big Al.
That was only because Newt Gingrich and the Republican Party, at that time, had a spine and stood up against the serial rapist on all matters financial.
Certainly not as compared to today, Professor.
I read this morning that predictions currently are that she will face indictment. Some folks are just above the law.
Really like David Morgan’s approach to streaming. Much as SW and Sandstorm can be cash-cows when the metals go up, a pro rata return instead of a fixed one to the miners strikes me as both fairer and more ethical.
I agree, Andrew.
I think it is an interesting business model to have an adjustable rate streaming deal versus the fixed rate streaming. However, there is nothing unethical about the other streamers like Silver Wheaton, Sandstorm, Franco Nevada, Royal Gold, or Osisko.
The miners aren’t going to get any government bailouts if they fail, and they are leveraged up in debt already and have diluted the snot out of shareholders already by issuing more and more shares. The miners have 3 choices to survive:
1) Sell an resource asset, mine, or land
2) Dillute shareholder by raising money in an extremely depressed pricing environment
3) Make a streaming deal where the streamers give them the cash injection for some of their assets in the ground
Nothing unethical about it. It is survival, and it is a very fair offer for these miners that would otherwise go out of business completely and fire everyone, or be forced to sell ALL of their asset not just part of it.
Here is a good clip of the CEO from Sandstorm Gold putting Rob McEwen in his place regarding his objection to streaming in November. I really like Nolan Watson:
Sandstorm Gold defends streaming – Tue, Nov 3, 2015 – Nolan Watson
http://www.bnn.ca/Video/player.aspx?vid=741471
Thanks Excelsior,
Of course it just a form of raising money ethically.
Agreed. My point was that the other streamers with fixed models are still running solid and ethical business models, and that David Morgan’s idea isn’t MORE ethical, but it is actually a much BETTER offer to the mining company.
Really, it makes sense to do it that way, if that is an option, but the streaming companies should offer both, and request a lower starting rate per ounce if it is going to be adjustable. It would mirror life insurance then. If you want a fixed (Term) policy you pay less for it than if you want a permanent policy that adjusts up in cash value over time (Universal or Whole Life). I could see David’s idea become a very viable second option for streaming deals moving forward. If you want a Fixed streaming deal the ounces start here at $XXX, but if you want an Adjustable streaming deal then the ounces start here at $XXX-20%.
The other concept that is being discussed in the streaming community is whether the streaming deal should be “Life of Mine” or for a “Set Period”. Randy Smallwood, the CEO at Silver Wheaton recently defended the “Life of Mine” rationale, due to all the risks of the mining companies keeping their word or keeping things on track in their projected timeline.
Check out starting at 5:30 on this video. Randy makes some great points.
Thanks for the link Excelsior
Excelsior,
Great points and I agree with most. I say “most” because of my lack of DD. But you bring up a very valid subject worth delving into much deeper. Thanks
Thanks Chartster. I think the Streaming model went from novelty, to a good option for a few companies, to a proven solution for raising much needed cash when nobody else would lend to miners, to hated because it is working so dang well and other people wish they’d have thought of the idea.
Then for investors holding stock in the companies that are doing streaming deals, they are getting upset because it is eating into the future profit margins. However, those same streaming haters neglect to offer any real alternative solutions for the companies keeping their lights on in an environment where raising capital has screeched to a halt, and the only other options are very dilutive stock issues or it means selling the whole asset or whole company for pennies, in lieu of bankruptcy.
I posted a list of the companies Sandstorm had streaming deals with earlier in the week and they are good companies, but companies with too much debt. They wouldn’t be doing streaming deals if there was another option. Some of the streaming deals are becoming more creative with expensive “out clauses” or this new idea of adjustable rate streaming.
** On a side note, and somewhat related idea in the Oil Patch…..check out PrairieSky Royalty. They collect royalties from petroleum and natural gas production on their vast fee-simple and gross overriding royalty lands, at relatively low risk and cost, and distributes a majority of its free cash flow to shareholders in the form of dividends.
Rick Rule weighs in on Streaming deals and sees it as being either a big help or a hindrance for the mining company depending on their situation and the terms of the deal. I agree from the mining companies standpoint, but the point that Randy Smallwood made up above, is that the streaming deals are not without risk to the streaming company either. It is definitely a 2 way street.
Here is the interview with Rick….
________________________________________________________________________
Sprott Monthly Market Update with Rick Rule: Uranium, Gold and Silver
Jan 24, 2016 – By Collin Kettell- Palisade Radio
SEG 8….if you have a new guest…..give us his profile……..thanks………..
Point well taken, Frank
RE: Shillary Indicted
Never happen.
Chillary is the chosen one for the Demonrats.
Foreign gooberments, banksters, the MIC and all sorts of other criminals have given her and Bill through their “foundation” hundreds of millions.
They got too much invested in her for her to get indicted now.
Same goes for Jebby. The PTB will make sure Trump implodes.
Then the Amerikan sheeple will do as they are told and elect one of the members of the Clinton or Bush Crime Families.
Until the people…..decide they have had enough , you are correct….nothing new here…………………same old ,same old. The only way is an NEW PARTY, or another party beside the TWO HEADED SNAKE.
Trump is just there to help out the republican party………….still an insider.
You are 100% correct on….”the govt. is not here to represent us”
sorry, post out of place………Ebolan, this is directed to you…………Jer the long
I dunno….Jerry….er…Frank. All this talk about the people getting fed up and changing things is not gonna happen…especially through voting…JMHO…sorry.
We need to understand that gooberment is not there to represent us at all. We are here to serve our gooberment masters, period. We are tax livestock and should never forget this.
The Story of Your Enslavement
https://www.youtube.com/watch?v=Xbp6umQT58A
The Truth About Voting
https://www.youtube.com/watch?v=igbBItLemsM
I dunno….Jerry….er…Frank. All this talk about the people getting fed up and changing things is not gonna happen…especially through voting…JMHO…sorry.
We need to understand that gooberment is not there to represent us at all. We are here to serve our gooberment masters, period. We are tax livestock and should never forget this.
The Story of Your Enslavement
https://www.youtube.com/watch?v=Xbp6umQT58A
The Truth About Voting
https://www.youtube.com/watch?v=igbBItLemsM
GOOD ONE……………………..”.keep the f..*ing candy” ….
Here’s another good one.
Thanks Eddie
good summary at about 15:00 mark………..always enjoy how stupid we became…ootb
This guy is right, you can’t spread virtue and morality with unvirtuous and immoral actions.
But the masses don’t give a you know what about such things and never will.
Interesting fact or not…………..only 30% of the people vote, …..just heard that yesterday,( but, can not verify)…….and why should anyone vote for a bunch of candidates from the same crap house……
I think is it is interesting, that Rand Paul goes to KENTUCKY for a senate seat, from a state he never lived in for more than long enough to qualify for an election, , much like Hillery in New York………Career politicians that have nothing in mind but, self enrichment…Not to mention that Kentucky is now awash in corruption and theft of the state pension funds. Just darn funny.
Al, absolutely no offence intended.
Freedom of religion and thought and all.
Im sure faith can be different things to different people.
bb……I take no offense………just hope that you are saved at the bell……….best.
Ebolan………after listening to the tape……..I hear what you are saying…, I have been talking about this same issues, since CARTER , ……the facts are available for all to see. Wide awake now………
If we understand that those in charge and their minions are not here to serve us but we are here to serve them then maybe we can have some slight peace of mind or at least not be driven insane over their corruption, theft, violence and all their other outrages that we can do nothing about.
Frank, Ebolan, you guys are right.
Trump and Sanders I think are the perfect guys to give people “hope” and Carson for the Christians of course.
TPTB are masters at the game.
The elections are and have been absolutely meaningless other than informing TPTB how many “suckers” they still have believing.
No offence here Al, but your an excellent example, educated,free will thinker, investor type so supposedly better informed than most and you have faith.
That “faith” is allowing them to enslave us, why would they push it otherwise?
Obama, as well as the Patriot act,nadaa has now signed a bill allowing the government to “employ” anyone deemed neccassary WITHOUT Compensation. aaaaaa, guys, that used to be called slavery. (sgtreport today)
Step by step, I do believe I mentioned that some years ago now.
I predict, the “bad guys” win, altho their “winning” could see them living in their bunkers for years, but people are focused on too many meaningless things to see clearly.
Heck, Hawkings has said we need to move to another planet now if we want to ensure the survival of our species. lol
He discounts the aliens of course, foolish mortal he is. lol
BB,
Faith can be construed as a bit of a defens mechanism. It can also be construed as your deepest hope.
I personally do not construe it as stupidity or giving up.
Very good points from Ebolan, FFM CCF, and BB.
bb……Carson is 1/2 truths….
good points….Ebolan….and bb…………….cheers………
Al, absolutely no offence intended.
Freedom of religion and thought and all.
Im sure faith can be different things to different people.
I don’t happen to agree Eddie and I hope I am right. NOTICE I said hope!
I highly recommend you watch the two videos if you get a chance and then tell us what you disagree with.
ditto…E………otherwise a lost ball in high weeds……
Now you are talking my game!
Okay Eddie, I wil.
Not convinced it will work for Hilary, Brian.
bummer.
Who is Morgan Stanley and Why Its $31 Trillion in Derivatives Should Concern You
According to a report from one of the regulators of national banks, the Office of the Comptroller of the Currency, as of September 30, 2015, insured U.S. commercial banks and savings associations had exposure to $192.2 trillion notional (face amount) of derivatives. (Yes, that’s trillion with a “t”.) The report goes on to terrify with the revelation that only four banks hold 90.8 percent of all derivatives: Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America.
Been taking about this issue for at least 4 yrs…………always a good reminder….
More than meets the eye……….the US TREASURY …has some accounting problems.
“more than meets the eye” is a slogan from the children’s cartoon show The Transformers. The bad robots are called the “Decepticons.” Maybe that is a good name to adopt for the Bankers and Central Planners.
http://www.idwpublishing.com/product/transformers-more-than-meets-the-eye-45/
I SAY we give them ……….The booty…….
Agreed. No need. Take Heed. With Speed. More Feed. More Mead.
As much as I like wine, I am not a big Mead fan.
I like red wine better as well. But in a tight spot or when hanging out with my viking friends, Mead will work. I’ve also tried a range of homemade mead concoctions that my buddies have made, as well as out at restaurants, beer festivals, and purchasing in stores. My conclusion is that they differ in taste from too sweet to very bitter, from tart to spicey, and from more wine-like, to more beer-like depending whether hops or malts are included in the fermentation process.
“Mead (/ˈmiːd/; archaic and dialectal “medd”; from Old English “meodu”,[1]) is an alcoholic beverage created by fermenting honey with water, sometimes with various fruit, spices, grains, or hops.[2][3][4] (Hops act as a preservative and produce a bitter, beer-like flavor.) The alcoholic content of mead may range from about 8% ABV[5] to more than 20%. The defining characteristic of mead is that the majority of the beverage’s fermentable sugar is derived from honey.[6] It may be still, carbonated, or naturally sparkling; and it may be dry, semi-sweet, or sweet.[7]”
TENN Vols……………..do not drink wine……moonshine only……
I’m not originally from TN so I drink both. 🙂
Markedtofuture,
Very interesting article! Now add this to the equation. The Saudi’s own a large stake in GS and Citi. Both companies are loaded with derivative exposure. And now put the private unaccounted for and untold Treasury holding in the mix. Goldman and Citi might be in a bit of a pickle..
Chartster…that is one HUGE pickle. Bad banks,bail-ins, negative interest rates and the elimination of currency is the big plan?
Next we will find out the Swiss are training refugees as snipers.
Sweden: State-funded Muslim “Sniper” Training
The Swedish state is funding a “sniper” training course for recently-arrived Third World “refugees” as part of their “integration program”—despite the ever-growing refugee-terrorist attacks across Europe.
http://newobserveronline.com/sweden-state-funded-muslim-sniper-training/
Nice find Chartster.
Re: Segment 8
Based on his free material, I have had a positive opinion of Chris Vermeulen for years and this interview only reinforces it. I think his current reading of things is dead-on.
How long have you been listing to him? thanks………..j
I’m guessing, but I think 7 or more.
thanks…………
I’ve been reading Chris Vermeulen’s thoughts for years and think he is generally on point.
The only thing I would disagree on with Chris is his time frame in the markets moving down. He thinks we may see a significant sudden acceleration to the bottom. I would say that the move down will take 2-3 year unlike 2009 when it took 11/2 years.
Doc – I agree that the move down will be more drawn out than in 2008/2009.
This will be uncharted waters for the younger institutional investors that have only known one direction in the stock markets and view 2008/2009 as an anomaly.
On that point I have to agree with you and Doc. Although I think there will be a “sudden acceleration” (or two), I think it will mark the end of the beginning of the bear. Then, with the bear well established, it will be a drawn out affair similar to the 2000 – 2003 bear.
So I think it will only start a bit like 2008.
Heck, It already looks like the offspring of those two prior bears:
That jives with me.
I agree too. Many like Dent calling for Dow 6000 soon. Short time ago he said 3000. We will many strong rallies along the way and the central banks should prevent any huge drops of over 20%.
thanks……and great point…….DOWN IS DOWN………..claw
The degree of the slope is the important thing, Frank. As you know, I would bet.
Thanks for your opinion. Excelsior
Thank you and Cory for putting out another great show. I’m excited to hear the interviews from the show in a couple days.
The Cambridge House Investment Conference.
All depends on how far oil can rise. If it can break the 38 barrier the market can go much higher and the next crash may be averted but if it fails near 34 to 35 then everything falls hard as it goes down to test 30 with a possible small bounce and then drop again to newer lows. We need production cuts from the producing countries to get to the 40 to 50 area.
We will certainly find out, Paul!
Here’s a 200 day composite chart for the Oil-related ETFs.
It is clear that the larger producers and service companies (featured in XLE, OIH, and DBE) have held up much better than the explorers or the ETFs that just track the crude futures contracts (XOP, JJE, OIL, USO).
http://stockcharts.com/freecharts/perf.php?XLE,XOP,OIH,DBE,JJE,OIL,USO#
Correction to that last statement as DBE does track Brent and WTIcrude, heating oil, gas, and nat gas (sorry about that). It came out more middle of the road, but to be clear it is not invested in large producers or oil service companies like XLE or OIH.
I still like XOP for the potential upside in the smaller producers and explorers for when the markets do turn around. (It’s like the GDXJ of Oil stocks). However, I want to see the continued cleansing process happen as many of the smaller companies are going bye-bye in the next 6-12 months. I’d rather just trade the smaller companies as individual stocks for now.
On a side note, I’ve been going in and researching many of the Oil companies using their corporate presentations, and most have been revamped to focus on producing in a $40+ Oil price. I wander how long many of these companies will be able to survive in the $20s and $30s?
Here’s a list of Oil Related ETFs. I think these are the main ones, but if there are any other Oil-related ETFs please post them below this.
Energy Select Sector SPDR ETF (XLE)
S&P Oil & Gas Explor & Prodtn ETF (XOP)
Market Vectors Oil Services ETF (OIH)
Bloomberg Energy SubTR ETN (JJE)
PowerShares DB Energy ETF (DBE)
United States Oil (USO)
S&P GSCI Crude Oil TR ETN (OIL)
ProShares Ultra (2x Long) Oil & Gas (DIG)
ProShares Ultra (2x Short) Oil & Gas (DUG)
Ultra (2x Long) Bloomberg Crude Oil (UCO)
Ultra (2X Short) Bloomberg Crude Oil (SCO)
S&P Oil&Gs Ex&Prd Bull (3X) ETF (GUSH)
S&P Oil&Gs Ex&Prd Bear (3X) ETF (DRIP)
VelocityShares (3x) Long Crude Oil ETN (UWTI)
VelocityShares (3x) Inverse Crude Oil ETN (DWTI)
OK it is early Monday morning, and I’ve waited until now to post this because I know it will be a long list of Oil companies. By now most of the comments have been made and people have read the blog (if not I apologize for the length of this).
This is my complete Oil company watch-list, but I’m working on whittling it down to about 10-12 great individual oil stocks for when we do get the bottom in Oil, or at least a more intermediate term bottom for a swing trade.
–> Anybody have a list of 10-12 companies on here that would be their prime picks?
Oil & Gas Exploration & Production & Oil Services
Name Ticker Symbol: (US tickers) – {for many Toronto ticker is actually primary}
Advantage Oil & Gas AAV
Alon USA Energy Inc. ALJ
Anadarko Petroleum Corporation APC
Antero Resources Corporation AR
Apache Corporation APA
Athabasca Oil Corporation ATHOF
Baker Hughes Incorporated BHI
Bonterra Energy Corp BNEFF
Boulder Energy Limited BLLDF
Cabot Oil & Gas Corporation COG
California Resources Corp CRC
Callon Petroleum Company CPE
Cameron International Corporation CAM
Carrizo Oil & Gas Inc. CRZO
Cequence Energy Ltd. CEQXF
Cenovus Energy Inc. CVE
Chesapeake Energy Corporation CHK
Chevron Corporation CVX
Cimarex Energy Co. XEC
Clean Energy Fuels Corp. CLNE
Cobalt International Energy Inc. CIE
Columbia Pipeline Group CPGX
Comstock Resources Inc. CRK
Concho Resources Inc. CXO
ConocoPhillips COP
CONSOL Energy Inc CNX
Continental Resources Inc. CLR
Core Laboratories N.V. CLB
Crescent Point Energy Corp. CPG
CVR Energy Inc. CVI
Delek US Holdings Inc. DK
Delphi Energy Corp. DPGYF
Denbury Resources Inc. DNR
Devon Energy Corporation DVN
Diamond Offshore Drilling DO
Diamondback Energy Inc. FANG
Divergent Energy ILISF
Enbridge Inc. ENB
Encana Corporation ECA
Energen Corporation EGN
Energy Transfer Partners, L.P. ETP
Ensco PLC – CL A ESV
EOG Resources Inc. EOG
EQT Corporation EQT
Exxon Mobil Corporation XOM
Freehold Royalties Ltd. FRHLF
FMC Technologies, Inc. FTI
Gibson Energy Inc. GBNXF
Green Plains Inc. GPRE
Gulfport Energy Corporation GPOR
Halliburton Company HAL
Helmerich & Payne, Inc. HP
Hess Corporation HES
HollyFrontier Corporation HFC
Husky Energy Inc. HUSKF
Imperial Oil Ltd. IMO
Kinder Morgan Inc KMI
Kosmos Energy Ltd. KOS
Laredo Petroleum Inc. LPI
Marathon Oil Corporation MRO
Marathon Petroleum Corporation MPC
Marquee Energy Ltd. MQLXF
Matador Resources Company MTDR
Memorial Resource Development Corp MRD
Murphy Oil Corporation MUR
National Oilwell Varco, Inc NOV
Newfield Exploration Company NFX
Noble Energy Inc. NBL
Nordic American Tanker NAT
Oasis Petroleum Inc. OAS
Occidental Petroleum Corporation OXY
ONEOK Inc OKE
Pan Orient Energy Corp. POEFF
Parsley Energy Inc. Class A PE
PBF Energy Inc. Class A PBF
PDC Energy Inc PDCE
Pengrowth Energy Corporation PGH
Penn West Petroleum Ltd PWE
Peyto Exploration & Development Corp PEYUF
Phillips 66 PSX
Pioneer Energy Services Corp. PES
Pioneer Natural Resources Company PXD
PrairieSky Royalty Ltd PREKF
Precision Drilling Corporation PDS
QEP Resources Inc. QEP
Raging River Exploration Inc RRENF
Range Resources Corporation RRC
Rice Energy Inc. RICE
RSP Permian Inc. RSPP
Sanchez Energy Corporation SN
Schlumberger Limited SLB
Seadrill Partners LLC SDLP
SM Energy Company SM
Southwestern Energy Company SWN
Spartan Energy Corp. PTORF
Spectra Energy Corp SE
Stone Energy Corporation SGY
Synergy Resources Corporation SYRG
Tenaris S.A. American Depositar TS
Tesoro Corporation TSO
TORC Oil & Gas Ltd. VREYF
Transocean Ltd. RIG
Trican Well Service Ltd. TOLWF
Tullow Oil plc TUWOY
Ultra Petroleum Corp. UPL
Valero Energy Corporation VLO
Vanguard Natural Resources LLC VNR
Weatherford International plc WFT
Western Refining Inc. WNR
Whitecap Resources Inc. SPGYF
Whiting Petroleum Corporation WLL
The Williams Companies Inc WMB
World Fuel Services Corporation INT
WPX Energy Inc. Class A WPX
The Oil Price ‘plays’ are going to be choppy for most of 2016.
The damage to staffing, or human resources in energy services is going to take years to fix.
The entire supply chain has been hurt, and they won’t just call people back to work and hit the numbers every quarter. a smooth operation takes engineers and operators with training and experience and budgets that can be depended on. When oil prices recover will be tough to drill a well with zero Interest money as was had in the massive exploration phase when prices were sky high. enough drilling inventory has been mapped for next century. Too many inefficient juniors in this market, the minute it becomes apparent it’s cheaper to buy someone out than to drill to prosperity the better juniors will get M&A activity. It’s too early to buy yet, better to be researching next 2 qtrs.
shop by basin, by proven reserves, by dollars spent at higher oil $ that are sound at sub $50 oil (hared to figure out), find EPS that was positive in Q4 2015, wait for Q1 numbers to come out for 2016, pounce on gas weighted producers that have 15 year inventory of drill locations, reserves and low to no debt. Ie seven generations,
Look for super undervalued exploration where 3-7x the dollars are sunk in projects and buy into teams that have excellent deals, land, and cash or finance to make big score by end of decade.
There is a list of junior explorers organized by Basin here: Tullii.org click on menu upper right for drop down list of projects worth reading investor presentations.
most companies will go nowhere for years, so you might be better to fish for real gems that play a niche and build a bulletproof plan for the 2021-2027 timeframe, which will likely be a very bullish time, until then it’s carnage for most p,ayers who took on more than they could chew and are paying the price now.
One ETF missing from list above is CCX (on Tmxmoney.com)
My 2 cents on the list you put up…
Oil & Gas Exploration & Production & Oil Services
Name Ticker Symbol: (US tickers) – {for many Toronto ticker is actually primary}
Advantage Oil & Gas AAV. (good bet, cash flow better than most jr)
Bonterra Energy Corp BNEFF (div payer)
Boulder Energy Limited BLLDF (experienced mgmt)
Cequence Energy Ltd. CEQXF ( they will be takeout if gas recovers)
Cenovus Energy Inc. (nibble away after Q1))
Cimarex Energy Co. XEC ( wait til q1 numbers are out)
Crescent Point Energy Corp. CPG (11 years of reserved left, pay div)
Encana Corporation ECA (great land, bad balance sheet, need recovery, sept ‘2016 )
EOG Resources Inc. EOG (wait and see numbers Q1)
Freehold Royalties Ltd. FRHLF (like the div, good assets)
HollyFrontier Corporation HFC buy on dips
Imperial Oil Ltd. not yet, wait til, Q2
Laredo Petroleum Inc. LPI (basin position is worth researching)
Noble Energy Inc. NBL. ( great Israel gas play and assets)
Oasis Petroleum Inc. OAS ( wait till it bottoms Q2)
Pan Orient Energy Corp. POEFF (paying div in feb,)
Penn West Petroleum Ltd PWE. (deep trouble if oil prices don’t recover)
Peyto Exploration & Development Corp PEYUF pays dividend, good lands
Phillips 66 PSX (refining will grow)
PrairieSky Royalty Ltd PREKF. (pays div) wait til q1 numbers are out
Precision Drilling Corporation PDS (like the options 1-2 years out)
Trican Well Service Ltd. ( they are in trouble, likey sold before march)
Valero Energy Corporation VLO hold it, add on dips
WPX Energy Inc. Class A WPX great gas wells if ng recovers by sept.
Wow. Thanks Evin. Great feedback! I do think it will be a drawn out bottoming process with more pain to come in 2016, but as you mentioned it will be much more advantageous to buy out some of the Jrs with quality exploration work already completed than to start more green-fields exploration. Getting in early for the M&A action is exactly what I had in mind. Also there are a few producers cashflowing if $Oil gets above $40 but few that are making money in the $20s or $30s.
Very nice recap company by company. Much appreciated!
Evin – Thanks also for the heads up on the site http://www.tullii.org.
Also thanks for the ETF (CCX) I’ve never heard of it until your post.
Again, your feedback is greatly appreciated. Cheers!
David Morgan is truly a salesman! I wonder if anyone is buying?
no…………
Join the book and tape club……………..lol
FFM..I’ve listened to Morgan for years and he was only right once. He, like many others, keeps moving the time frame ahead on his previous predictions…no better than Bo Polny in my opinion….
DITTO…………..
I started out listening to DAVID…….11 years ago……and you are 100%correct…
The more I think about it……it could have been longer…..time flies …fuzzy math.
He should have enough investors with the huge amount of money he has made his subscribers I would think. no?
Heck, there should be a line up for the shares.
I would agree BB,
David is ethical and well liked because of that.
Remember, this company is currently private.
Someone has put in $5 million so far.
This looks like the start of some real relief for the Canadian dollar:
It is showing more strength than oil:
WTIC:
Yeup. This is the option for a short-term divergence in the Loonie and Oil that we’ve been discussing where the currency will head up before the commodity.
I believe Oil still has some pain left. As noted earlier this week, if Oil really does head down to the $22, $20, or $16 range as some believe, then I don’t see how the Loonie would completely escape that suction down.
I agree, the loonie wouldn’t avoid the suction but it just might avoid making a new low.
Good point.
Just had breakfast with Cory, cost me $14 US for two! (Including tip)
Darn, I should have booked my vacation stay in Canada now before the currency arbitrage USD:Loonie shrinks back down. I was looking online at hotel bookings and could not believe how cheap it is to stay in Canada in TOP notch hotels right now. Going out to eat would be a treat as well due to the currency exchange.
There was an video on BNN about this very topic recently. Canadians are not traveling to the US as much and have taken travel to Europe instead, and Americans are not getting the clue that vacationing in Canada or Australia right now is the bargain of a lifetime.
Canadians reworking vacation plans as Loonie languishes
http://www.bnn.ca/News/2016/1/21/Canadians-reworking-vacation-plans-as-loonie-languishes.aspx
Canada …..get ready for high prices for tomatoes and pineapples……….zerohedge
Do not forget that THE BOOTY…………has a vacation offer in South Florida for the Canadian goose…………….
Nice offer from The Pirate Claw BOOTY…..The BOOT-Legger
I’m reposting it to see if anyone will bring you the truckload of Liquid Bread for a Stay in sunny Florida:
_________________________________________________________________________
On January 21, 2016 at 7:29 am,
Frank from moscow CCF says:
US citizen should take advantage of the weak Canadian dollar, … I want to trade a week end stay,( ocean side), for a truck load of Canadian beer(BLUE)…..Anyone, got any beer to trade for a week end stay in South Florida… Please contact…….THE BOOT, as in bootlegger……..
On January 21, 2016 at 8:26 am,
Excelsior says:
FFM….The BOOT….Legger
That is quite a zesty offer to our friends in the North. Tell me if anyone backs up the truck…
I am seriously considering traveling to Canada this year for some R&R since the currency exchange is at such an extreme at present.
Hi shad and Matt
I’m looking for what it’s worth at the very least a retest if the recent bottom in loonie come summer or fall if not earlier. It either retest or puts in a lower low imo. Some miners like you and shad have shown already seen to have made bottoms and look very good like they are leading the sector. Seems to me the small cap or the ones with under 100,000 thousand or less of production are enjoying a ride. Will they correct eventually? I believe so but it may be from much higher prices. Others continue to show weakness including the mid and large cap and may see new lows. I’m following weekly and monthly at this point.
Glenfidish, agreed on all points. I think the Loonie could retest those lows if Oil heads back down for lower lows. Yes, there are many quality companies that have bottomed in 2013, and may still correct back more if PMs fall again, but from higher highs. Lastly, the larger companies like Barrick, Goldcorp, and Kinross or the large commodity companies like Glencore, American Anglo, Teck, Vale, and BHP have been under major duress due to their debt loads. Most have been selling or divesting assets to deal with this. This is why the small to mid producers with good balance sheets, and good All In Sustaining Costs have been outperforming.
Cheers mate!
Excellent poi, Excelsior
Thanks for the plug………EX…………………………………THE BOOTY
Loonie’s plunge is driving some big discounts on Canadian car lots
This outperformance is bullish for resource investments in general, in my opinion.
Please explain your rationale Matthew.
Best
Al, I see the turn up in the Canadian dollar as possibly somewhat more bullish for the resource space in general because non-Canadians like me must buy the loonie before we can buy Canadian miners of any type. Oil, on the other hand, is more likely to have strong short term rallies that don’t mean much to resource investments in general.
I can see the Canadian dollar retesting last week’s low (as Glenfidish thinks will happen) but I think the flow into the currency lately is clearly bullish for the miners.
Note that in the crash of ’08, the miners (GDX) bottomed many months before the Canadian dollar retested its low.
After closing 8 weeks below it, gold has now closed above the 600 week EMA for the third consecutive week. Smarter shorts and wannabe longs must be noticing gold’s resilience — and getting slightly nervous.
Nice.
I got on here late. Been out shoveling 2 feet of global warming (snow).
The last guy was talking about having a position in an inverse fund for the crash. I do. I am building a position in SPXS. We think it may hit 30+ by March. You can also check out SQQQ and SDOW. I think SH is another one.
Great suggestions on the inverse ETFs Jason. I like SPXS to short the S&P, and I like TZA to short the Russell 2000. The large caps and small caps behave a little differently so it is a good idea to have a fishing pole in each pool.
Al, Cory & Chris:
Your conversation with Glen Downs reminds me of something I saw during the Election night coverage of the 2012 Presidential Election on Fox News. When Fox called the election for Obama Karl Rove refused to believe it. While the rest of the world pretty much knew that Obama would be re-elected those that watch only Fox thought that Romney had a chance. Karl’s belief was so strong that he had to go to Fox’s election prediction bureau to challenge their call.
It is stunning to me that you would bring on Glen Downs, the chief of staff of a very right wing Republican Congressman, and swallow his conspiracy theories lock, stock and barrel without the slightest challenge. You may hate Hillary, I’m no fan of her myself, but to accept as fact that she will be indicted based on some conversation that Downs’ had with some unknown retired FBI agent is just sad.
Bloomberg thinking of running………………Hilly, might not be so lucky…..zerohedge
Common Mike, he was just expressing his opinion.
My stance is that we are soon to see just how much power the Clinton family really has.
Generally speaking, defenders of Hillary have never had an interest the facts. Of course, the same can be said of the supporters of most politicians. But most politicians aren’t as brazen as Hillary.
Now that is a good poin5,, Matthew. Explains why there is so much dislike out there.One would think that she should be very far ahead of the pack now! And, she seems to be actually just trying to keep her head above water!
She won’t be indicted. If she is, then Biden will get elected. Either way the Republicans will lose.
America loses either way, PF (Pure Fantasy?).
I’m just stating the likely outcome. If you do the arithmetic on the electoral college, it will be difficult for the Republican candidate to win. California, Illinois, and New York are guaranteed to vote Democratic. The only big state guaranteed for the Republicans is Texas.
I see; then I apologize for my silly barb.
Prices are starting to sky rocket here in Ontario Canada.. Not sure on the rest of Canada. Call it inflation/ deflation whatever you like but this is a no brainer imo. Compared to foreign countries, Canada is behind on prices and needs to play catch up. Just about everywhere I’ve been outside of Canada, I find myself paying in US dollars and a McDonald’s crappy combo at 8/10 dollars us.. With a low loonie and foreign money coming here/travelers and higher import prices for Canadians to bring in the goods, it’s headed higher. I would not be surprised if properties here in Ontario move up once again with big Chinese money and others buying up assets.
It is certainly a bargain basement for Americans right now!
It’s follow the money and the money has entered Canada’s for sometime and continuous to pour in imo. Safe jurisdiction and so called safe banks which can be argued is attractive for the big shots. Seems like this game will end ugly at some point.
Tomatoes and pineapples headed higher…………..for Canadians……….zerohedge
I guess McD., will cut back on the tomato slice.
Nope. Adding tomato will be $1 Canadian Dollar a’ holler…..
Mitch McConnell giving Obama……….the right to wage WAR…..as long as he needs it……zerohedge…….Is’nt t this guy a Kentuckian……?
Let’s see what PAUL has to say on this one…………………lol …..two Kentuckians in a knife fight.
Zero Hedge is getting a bit on the sensational side. Rem wwe Amber it’s response to the mark to market energy situation?
Meant “remember”
Copper is looking better…
Copper shell casings are going to be in big demand…………if the O goes to war.
Cartridge brass has quite a bit of zinc, too.
http://www.accurateshooter.com/technical-articles/x-ray-spectrometry-of-cartridge-brass/
War will not happen during his term, Frank.
Not this year!
Big gains coming for commodities…
Interesting on the down-trend line and MACD divergence. Also the Slow and Full Stochastics look ready to turn up.
Do you think this rise in commodities may coincide with a USD double-top and then correction down scenario?
Commodities (GNX) ended the week up 4% while the loonie ended up 3% despite the dollar also finishing higher. So I think commodities can hold their own either way at this point but would definitely get a big boost when the dollar finally does fall.
Here’s a chart I posted in October. Uptrend strength is weak but the bias is still higher.
Thank you Matthew.
Good thoughts & chart. Much appreciated.
******* SNOW STORM IS BRUTAL RIGHT NOW HERE ON THE EAST COAST AS NOTHING MOVING!
Nothing is moving……………..this will add to the collapse!
It’s a great excuse, Mark.
The BDI has, or is about to bottom….so…all is good?
Mark could stumble upon the pot of Gold at the end of the rainbow,
….& would still bitch about the Baltic Dry Index.
Retarded!
Skeeta- Interested in the name of the JR trading around a dime you mentioned the other day!! TIA. Cheers.
Agreed Ann. I could not guess which Junior Gold explorer Skeeta was mentioning, and it is sad because there was a free beer offered if we could guess the company.
What was that company you mentioned trading for $.10?
My apologies Ann & Excelsior,
I had been drinking when I wrote it was trading for less than a dime.
Silly me,
LOL..its actually trading for less than a Nickel. 🙂
Again apologies,
But you guys with your nickels, dimes, foot, yards, miles, gallons etc get me confused at times !
When are you going to finally join the metric world….if ever ?
Have a guess Ann & Ex.
If ya don’t nail it straight up I’ll let you know….its no secret afterall.
Cheers.
New Carolin Gold Corp is my guess since you lowered it below a nickel.
Yes, I agree our systems of measurement are wack. I don’t know why we couldn’t have been on the metric system. It makes far more sense.
Its an ASX listing.
Oh…missed that part. Let me try one more guess.
The lowest cost AISC for Australian miners belongs to:
St Barbara Ltd (ASX: SBM)
Resolute Mining Limited (RSG.AX)
Beadell Resources Ltd (ASX:BDR)
Newcrest Mining Limited (ASX: NCM)
Evolution FPO (ASX: EVN)
Northern Star Resources Ltd (ASX: NST)
Kingsgate Consolidated Limited (ASX: KCN)
But none of them are under a nickel.
Medusa Mining was a tempting pick but not near a nickel either.
Wow in doing this research, Alacer Gold has a way lower AISC than I realized.
Preliminary All-in Sustaining Costs1 of $690 per ounce
I give up man….. but also just stumbled upon another producer Troy Resources in Australia. I’ll admit, my knowledge of Gold miners in Australia is more limited. I’ve had Focus Minerals in the past and currently have Metals X currently for base metals and gold. There’s just too many gold miners 🙂
on a related note, I just checked on Metals X and they have made a takeover offer for Aditya Birla Minerals Limited ACN 103 515 037 (ABY)
http://www.noodls.com/view/B4B151AA75008900918CD2E188309789C1733C19#sthash.7iss6IkT.dpuf
Excelsior, ASX stocks usually have several hundred million shares out so even at a nickel it might be valued at $20M. I’m sure nickel stocks there are a dime a dozen. 😉
Excelsior & Ann,
Matthew is correct when he says there are many trading here in that price range.
Just need to sort out those with little or no debt & who are making money on this current low gold price.
Its market cap is only a little over 30 million IIRC?
ASX.MOY
Do you own DD,
& good luck to the three of you.
Cheers.
Oh whilst I remember Ann, Excelsior & Matthew,
This is the story I read about them last week that I mentioned.
(Scroll down the page, its under the Sandfire story)
Cheers.
Matthew that made me laugh… “nickel stocks there are a dime a dozen.”
Especially because originally Skeeta said it was trading for a dime, but got turned around on the currency and switched it to a nickel. I understand what you are saying though, as many of the Australian miners do have very loose share structures with hundreds of millions issued. Strangely enough, most of the companies I was listing above were all far over $.05 so it couldn’t find any low enough 🙂 In fairness I was filtering my searches for the best AISC in Australian Jr miners.
Skeeta – Thanks for letting the cat out of the bag on Millennium Minerals Limited. I’ll look into it further along with some of the other names I dug up during the search.
This was an interesting quest. Thanks!
Very possible, but certainly to each his own.
Mark, have you built a snowman yet?
Yes, two of them………husband and wife!
Gold:HUI is trading at twice its 2008 peak:
Russell 2000 support/resistance levels:
It has already retraced about 50% of its 2011-2015 move.
Interesting take of the chess game.
http://www.zerohedge.com/news/2016-01-23/putin-winning-final-chess-match-obama
Depends on your perspective. You know how I feel Chartster.
Ted Cruz is not fit to hold office of the presidency.
He was born in Canada.
Article II – Section 1 of the Constitution.
No person except a natural born Citizen, or a Citizen of the United States, at the time of the Adoption of this Constitution, shall be eligible to the Office of President; neither shall any Person be eligible to that Office who shall not have attained to the Age of thirty-five Years, and been fourteen Years a Resident within the United State
Chartster..you need to define and elaborate on “natural born citizen” to determine if Ted Cruz is eligible…
Heh heh, ..you’re kidding, right?
The first sentence is the deal. There’s nothing to elaborate on. He was not born in the US, therefore Not Eligible! Period!
Chartster..no not at all…there are senators that were not born in the U.S. but are eligible to run for President..look it up…study the subject…
Hello gator……..is the answer, like McCann, where he was born in a us territory?
natural vs naturalized…………….is the problem ….He was not “born” in the USA.
Bruce Springsteen was…..
how about …..a little Beatle …….Born in the USSR………….
Paul McCartney – Back In The USSR (Live)
thanks yoooo the man……….., did skeeta ever give up the info on his magnificent find, below a half dime…… 🙂
See above for the link Frank.
Cheers.
Yes sir. Millennium Minerals Limited is on the table for dissection and discussion.
Ok. ….now I see it………………THANKS Skeeta and EX………..
The middle east has been left aside of participating in the wests financial world. this fella claims the ability for Iraq to be part of the ‘credit worthy’ nations has been largely played around with by western banks so that they could charge enormous fees for taking on risk that in reality wasn’t there to the degree they claimed. end result Iraq is hurting and the motivating for making them credit worthy is largely being hindered by those banks who profit from them not being granted such status. it’s alternative media, but the context is one that may help explain things mainstream doesnt cover.
https://m.youtube.com/watch?list=PLK6VBISDFGNRQwcCytjGGw1rlmxnqw4mT&v=Dm65i1eQpCY
I was listening to David Morgan talking about arrangements where the mining company gets to share in the appreciation of the asset. The first thing I thought was there are no free lunches. Over time these deals will offer less money per ounze to the mining company since they share in the appreciation of the asset. Disclaimer. I own both Silver Wheaton and Sandstorm Gold shares. I have owned Franco Nevada shares in the past and expect to pick up more FNV shares in the future.
Agreed Stephan. I was making the same argument up above in the blog in the streaming thread, when contrasting the fixed price of streaming versus the adjustable rate streaming. They’ll have to start at a lower price per ounce if they want it to adjust up with metals prices.
*** MICHAEL SNYDER LAYS OUT ALL THE FACTS ABOUT WHAT’S COMING!
https://www.youtube.com/watch?v=OsdFpduvsAQ
We knew this was coming……………there were warnings!
Uh………………………Game Day!
The precipitous oil price drop indicates to me that commodities are in a secular bear market. Gold included. It is something we gold bugs will need to face imo. Gold won’t drop below $1000 just yet. Indeed we should see gold rally to $1500 while stocks drop. But in a year or so we will see another strong wave down in gold below $1000.
I’m playing it by ear. If I see this bearish scenario developing, I will completely divest out of gold on the next upswing.
Karl, it is a lot harder to do than talking about it. No one can predict the future. You will not know whether the next up leg will just keep going up or fall through the ground. It is very likely just to give up before the unavoidable gold rise due to inflation. Goldbugs will be the last ones to give up. I have seen bull started with bearish scenarios all the time. Try 2000 and 2008. So I have decided to hold for another 20 years if the price is so stubbornly low. I will put my money in other areas.
I mean new money
Gold is not in a secular bear. If it were, it would not have taken 4 years and 4 months to correct 45% and retrace just 50% of its 2001-2011 move up. In addition, it hasn’t taken out the 150 or 200 month moving averages OR gone below the last significant low (which happened in 2008). The uptrend is very much alive.
You’ll be glad you have your gold when the currency’s collapse from all the QE’s.
Keeping the eye on Monsanto.
http://www.growtest.org/5-million-farmers-sue-monsanto-for-7-7-billion/?source=ThriveFb
The chart of Monsanto is ” shovel ready ”
The executives of Monsanto are ” roundup ready “
…And…the Clinton foundation..!
Hard to keep up with Hilly and Billy…………… thanks
I’m disappointed you guys didn’t ask Dave Morgan on his outlook for gold and silver. Who cares about his private business venture which your listeners can’t even invest in.
Donald Dump would be more dangerous if elected than Hillary.
‘I Could Stand In The Middle Of Fifth Avenue And Shoot Somebody And I Wouldn’t Lose Any Voters’
She did a great job as Sec. of State. Behind the scenes, her and Billy, have a lot of explaining …..FROM WHITE WATER forward…….With Hilly you get Billy. 🙂
She did say….”I stand by my man”…………….lol
TRUTH ABOUT VOTING…tape above, posted by Ebolan…..might be a good review… 🙂
http://www.321gold.com/editorials/kern/current.html
(scroll down to New Material)
The Warmongers’ Brawl——How The GOP Is Deserting Free Markets, Sound Money And Fiscal Rectitude
http://davidstockmanscontracorner.com/the-warmongers-brawl-how-the-gop-is-deserting-free-markets-sound-money-and-fiscal-rectitude/
The dumbshit masses will never grasp that the modern “right” is “left” in all the ways that really matter. Left=sinister.
Wow. Nothing good for the general markers for the start of the week. I’ve decided to begin positions in a 3X Bear (SQQQ) and volatility. Just a “nibble”, as DOC would say. I know the technicasl are saying markets should be flat to up before the next down leg, but I don’t mind being on the wrong-side of a trade for a bit, rather than missing a big move (which I believe will happen in February time frame)
Brian. Please see the additional comments added to the Avi Gilburt blog where we showed you the love.
Your thoughts and ideas are appreciated!
Claude Resources
Matthew, EX, DOC, LPG, others:
Any thoughts on Claude’s decisive upward move today?
Claude’s big uptrend has been getting stronger all month and the important weekly chart looks ready to go.
The daily chart action is also strong.
i don’t like Claude’s fundamentals without a major jump in metal’s price!
2016 Forecast
Gold production 65,000 – 72,000
Total cash cost per ounce . US $700 – $775
Total cash cost per ounce. $530 – $585
All-in sustaining cost per ounce. $1,125 – $1,245
All-in sustaining cost per ounce. (U.S.$) $850 – $935
There are more than a dozen other small companies with better cost profile even without high-grading.
The table I copied from Claude had a typo in total cash cost, mixing up US and Canadian $s.
You can opt for a lower AISC but you’ll give up leverage. Gold won’t have to go up much for Claude to triple this year.
Claude also has great exploration upside and a small enough market cap for good drill results to have a material impact on the share price.
Claude has been much stronger than the average junior this year and vastly stronger than most for the last 18 months.
I don’t like a gap, especially a weekly gap, and that’s what we have today. It is part of the reason for the stunted action and will get filled, I’m sure.
GDXJ:
Mind the gap…..
MAtthew
Excellent charts and comments. I agree.
Another chart from GoldTent going back to 2012 with resistance support lines:
http://goldtadise.com/wp-content/uploads/2016/01/CLAUDE-BO.png
Based on monthly closes, CRJ has now retraced 38.2% of its entire bear market move down.
Then there’s this old monthly chart:
What’s really interesting is the chart is very different when viewing it from the US$/CLGRF chart. I’m not really sure which currency to use for charting ! Yikes !
It is up 722% vs the C$ in just over two years but is up “just” 547% vs the USD in the same period.
CRJ priced in gold is up 840% and CLGRF priced in gold is up 616%.
BIG …% difference on the C$ and US$……….wow…
Brian, I’ve owned Claude for months and been adding as it moves up—I added again on Friday and now will let the stock run. In my view we could have a handle of $1.40 on it before it pulls back. On a big pull back I would add more based on the current fundamentals.
As I posted in this forum about 6 months ago, the Italian banking system is in deep trouble.
e.g. http://www.marketwatch.com/story/italy-could-trigger-europes-next-financial-crisis-2016-01-21
It appears to me this, combined with the collapse of the Schengen system, will eventually collapse the whole EU system.
It amazes me that media in the US and most of Europe is so silent.
Come on CFS………..you know the game plan……..MSN is part of the disinformation.
D.GARTMAN……says “gold does not get interesting until 1110…..”……kitco..
Then it’s gonna get “interesting” soon.
🙂 …….. yes indeed…………….
FFM ~ It’s 1111, actually 😉
I think Gartman has been reading my post……….. lol 🙂
I though the Elevensies was too cosmic and we had decided to target a close above $1112 for the confirmation of a further breakout to be prudent 😉
oh, ok,,,,,,,,,,,,,sounds good to me……………………..the booty 2
Another good reason to steer clear of B.C.
http://yukonprospectors.ca/Wordpress/?p=2006
(I have always steered clear of B.C.)
Isn’t that the place where bears roger Hollywood actors?
That sounds about right.
Theralase:
Seems to have pulled back and may be going to local higher-high.
o At a recent conference, they were the most popular presentation of 80+ companies.
o Final hurdle (ITA) could be met in February, then the first three patients are treated.
o It is not out of the realm of possibilities, that this could be a US$1.00 stock in 12-18 months, which is my personal outlook
Tiny TLR is up 118% from the bottom of its inverted blowoff less than two weeks ago.
Man I haven’t thought of timberline in years. Nice rebound.
Gold up …..1.53% against Canadian dollar……….up $23plus Canadian dollars.
oops………….Canadian dollar reversing ……gold down in Canadian dollars…….keeps you on the edge of your gold pot……………..lol
Dec 2013 gold was just under 1300 canadian.
Dec 2014 it was a bit over 1600 canadian
Oct 2015 it was a little over 1400 canadian
today 1570, it does look to be on the rise again, or would that be the Loon goin for a swim?
Many commodities are hovering just above the 2008 lows. Oil has already broke below. So has the CRB index. Does that indicate a secular bear?
Gold has been sticky downwards because of the hard core gold bugs buying every dip. They will give up at some point imo. A question for the gold bugs. When will be see $2000 again?If it’s a decade away, surely it’s a secular bear.
Gold will perform well whilst stocks are in a bear market. But what happens afterwards? A downward resumption?
Looking at the Canadian price…….2000 gold should be coming quicker than one thinks……. 🙂
Currency wars are on………………China warns SOROS on starting a currency war…zerohedge Tuesday…1/26/2016
A 40% to 60% drop in the S&P 500 – Wow! That is the biggest drop that I have heard anyone forecast for 2016.