Updates on metals and metals stocks as well as a broad look at economies and central bank policy.
Doc is back with some updated comments on the markets. We start off with the metals and the selloff today especially in the stocks. Far from a breakdown the sector remains in the trading range it has been in for year. We also take a step back and look at the broad markets and how central banks are going to try to the ball rolling.
IRVRF—75-80 cts and then look at it again.
Call the recent selling in Irving, MMRMF, and Novo an example of Moriarity’s Curse. Bob has touted these 3 as having enormous potential; they may still have enormous potential, although MMRMF recent drill results and Bob’s angry comments about the company’s apparent lack of clarity certainly set this one back. But Irving and Novo still look good fundamentally; it’s just that given the simplistic herd nature of investors in the juniors, that unexpected bad news in one has people thinking maybe it is going to happen in his other favorites. As I see it, such punishment is an opportunity.
Doc, If gold goes down to the 1220-1250 level, what is your prognosis on the low for silver and when?
Pardu, silver should see about 14 dollars end of this month or early May.
Ira’s Metals
Doc where do you see aprox bottom for GDX after this April/May sell off? Thanks
Paul, I feel in the next 2-3 months, GDX should challenge the 19-20 area.
Hi Doc, what do the charts of IRVRF and MMRMF tell you? They have been creamed.
Are you for the Spartans or Red Raiders? The Spartans lost twice to Indiana this year so I’ll pick the Red State Raiders who must’ve learned a lot from Bob Knight and his son.