Rotation back into Tech – What it’s telling us about the health of the markets
Chris Vermeulen, Founder of The Technical Traders joins me to share the sectors he thinks still have some nice upside. With money rotating back into the Tech sector the markets continue to offer opportunities in different sectors while the broad averages grind higher.
Click here to visit The Technical Traders website to follow along with what Chris is trading.
You been pumping your BAN system but only bought one over last month, and only bought 10 pct weighting, that not too confident. You used to like things you went in 25 pct weighting. Ban list had many in top 10 on list for last month but only bought one. If you were that confident you would be buying especially if you say they are on fire.
You lost ton money last year for your subscribers using same system your just renaming it now ban, your just trying to sell newsletters.
I will be believer when you back up your talk with buying more on the ban system.
Your not long stocks with only one stock in portfolio and you already sold 75 pct of it.
Stop the BS about BAN system until your ready to buy it for real in portfolio, buying one stock is not showing you believe in system and with a measly 10 pct weighting.
You have me confused with another.
My method is not yet publicly available.
The “Saturation Timing and Trade System”
has been in development for a few years now.
Scroll down: http://www.kereport.com/2021/01/25/trading-in-gamestop-has-been-crazy-today-but-what-is-that-telling-us-about-the-markets/
BDC, I’m pretty sure Paul is addressing Chris V.
Thank you, and to many others of the Ker Krew.
The depth of knowledge here is truly impressive.
SILJ vs GLD found support at the 233 week EMA this morning…
https://stockcharts.com/h-sc/ui?s=SILJ%3AGLD&p=W&yr=5&mn=0&dy=0&id=p68776166306&a=862287736
Paul,
I don’t really follow cris but your entitled to your views as we all are. Sometimes we need to express the truth if that is the case with cris.
Nice chart Matt!
Right shoulder looking good baby 👊
Let’s see if this holds and then a nice pop goes the weasel 🤭
Glen
Silver Elephant drills 4 m of 518 g/t AgEq at Pulacayo
2021-01-27 11:06 ET – News Release
Mr. John Lee reports
SILVER ELEPHANT NEW DISCOVERY: DRILL INTERCEPT 4.0 METERS GRADING 393 G/T SILVER, 3.79% LEAD, 0.88% ZINC (518 G/T AGEQ) AT PERO TARGET WITHIN PULACAYO PROJECT
Silver Elephant Mining Corp. has released the initial drill results from the Pero discovery within its Pulacayo silver-lead-zinc project in Bolivia.
Canagold optionee drills 21.9m of 6.2g/t Au at Fondaway
2021-01-27 10:05 ET – News Release
Mr. Garry Biles reports
CANAGOLD OPTIONEE GETCHELL GOLD CORP. REPORTS BROAD HIGH-GRADE GOLD DRILL INTERCEPTS AT FONDAWAY CANYON, NEVADA
Canagold Resources Ltd. has provided the results of the first three drill holes by Getchell Gold Corp. from its maiden six-hole 1,995-metre drill program at the Fondaway Canyon gold project in Nevada.
Viscount drills 14.9 m of 702.7 g/t Ag at Silver Cliff
2021-01-27 08:21 ET – News Release
Mr. Jim MacKenzie reports
VISCOUNT MINING DRILLS 702.7 G/T SILVER OVER 14.9 METERS INCLUDING 1,259.1 G/T SILVER OVER 7.6 METERS AT SILVER CLIFF, COLORADO
GoGold drills 43 m of 322.7 g/t AgEq at Los Ricos
2021-01-27 06:45 ET – News Release
Mr. Brad Langille reports
GOGOLD ANNOUNCES NEW DISCOVERY AT EL ORITO IN LOS RICOS NORTH INCLUDING 43M AVERAGING 323 G/T AGEQ
Alamos Gold drills 5.06 m of 123.74 g/t Au at Island
2021-01-27 06:41 ET – News Release
Mr. Scott Parsons reports
ALAMOS GOLD EXTENDS HIGH-GRADE GOLD MINERALIZATION LATERALLY AND DOWN-PLUNGE AT ISLAND GOLD
Getchell drills 21.9 m of 6.2 g/t Au at Fondaway
2021-01-27 06:13 ET – News Release
Mr. William Wagener reports
GETCHELL GOLD CORP. INTERSECTS 6.2 G/T AU OVER 21.9M INCLUDING 9.6 G/T AU OVER 12.0M AT THE COLORADO ZONE, FONDAWAY CANYON PROJECT, NEVADA
Trading halt on Defiance Silver
DNCVF…Today would have been the day my month(s) old bid would’ve triggered. 😡
Yeah, I saw that trading halt on DEF this morning and am curious to see what it may be, but know that they’ve been busy with their drilling on their San Acacio Silver Project, and hope it is some stellar drill hits.
Good morning, EX—see my comments to Bonzo below regarding my VIXY position. Sometimes a dog has its’ day. Last week after the Gamestop move, I figured the crazies would move on to other stocks with high number of shorts and purchased MAC and AXDX—needless to say, they did as expected and those stocks are going nuts—we are in a frothy conventional market that should pay a price soon.
Hi Doc, and yes good morning (and a wild morning in the markets). I didn’t see your comments on the VIXY down below, but I had written you back on yesterdays blog that I had closed my VIXY position to pursue a few more mining positions, but yes, I saw that 11% pop in it today. Well done sir.
Yes regarding the GameStop craziness and other retail froth, it really is getting insane. The droves of new retail investors, stuck at home during the pandemic, are pushing up stocks to new highs, and as Ed Moya mentioned in his editorial here at the KER on Monday, there were TikToc videos that had so many retail investors challenging the shorts that they’d keep pushing it higher, and to their credit, that they did….
Yes, there are huge numbers on Robinhood and other platforms pushing things higher, very much like what they did with the Airlines, Kodak, and Hertz rental cars earlier in the year. Quite the spectacle, and it will end in quite a blowout like it did in those stocks.
There was an interview on Real Vision yesterday that touched on this retail phenomenon.
__________________________________
“GameStonk” Lunacy: Is Speculative Fervor Reaching Epic Proportions? (w/ Tommy Thornton)
Jan 26, 2021 – Real Vision Daily Briefing
“Senior editor Ash Bennington hosts Tommy Thornton of Hedge Fund Telemetry to break down a day of absurd price action as GameStop skyrocketed 90% today and zoomed an additional 46% during afterhours trading. Tommy and Ash reflect on the shrewd yet reckless speculations of the r/wallstreetbets traders, who pushed hedge funds that were short GameStop like Melvin Capital to the brink, with Tommy noting that this intentional targeting of shorts triggered a record day of long/short degrossing. Turning to technical indicators, Tommy comments on the buying exhaustion he is seeing via DeMARK indicators, saying “this is a bubble that I think could pop at any moment.”
We’ve always had the gamblers and speculators in the markets but I feel tech today can form them into formidable blocks to move different assets one way or another.
Agreed Doc. Speculators are going to speculate, and push asset classes up to over-valuations, and then the crash comes when the bubble pops, but these new coordinated investing blocks of investors from platforms like Robinhood or TikTok, are actually overpowering institutional shorts, just in their sheer numbers. It is quite the modern day phenomenon, and really started with the swath of new investment trading accounts opened over the last year, and with initial ring leaders like David Portnoy over at Barstool Sports, when he decided to shift to investing.
Again, earlier last year when there were investor swarms pushing up Kodak and Hertz of all companies, it was clearly a sea change. What we’ve seen lately with GameStop is more of the same, and allows retail traders to push valuations to levels that defy the underlying fundamentals, and let the speculation reach levels rarely seen. Tesla has been a similar case, where investors have pushed it to valuations beyond all the other auto manufacturers. Growing Trees mentioned yesterday the crazy moves higher in Semiconductors. We’ve also seen everything from Vaccine stocks, to Cannabis stocks, to Battery Stocks, to Clean Energy stocks to Crypto stocks go through wild frothy moves higher, powered by retail investors.
Speculation is back on the menu, but it raises the caution flag for me, and these ripping moves higher are completely divorced from the pain everyday folks on mainstreet and small businesses are experiencing. I’m still waiting on the other shoe to drop, and the hangover after the party to set in, which will leave many bagholders… hence putting my short position back in place.
Holy cow…. Look at that GameStop stock chart action the last few days. It has gone up into Cloud City…. This is going to end badly for those buying up at these levels.
Funny you mentioned putting your short position back in place—before reading your post, I called my broker and did the same.
We’ll see how it goes Doc, but I can’t remember this much market froth since the Dot Com bubble from 1998 – 2000, and the run up in real estate from 2001-2007, but this one takes the cake as the creamiest froth. I’ve had plenty of exposure to the US markets since this latest cycle started in early 2009, and my retirement account has been mostly allocated to Mid-cap and Small-cap mutual funds, but after the ecstasy…. comes the laundry; after the wild party… comes the hangover. If things sail higher and my short hedge get’s crushed, then so be it, but I’m not comfortable with how high things have moved, and if they melt up even more, then I’ll likely short the Nasdaq next.
Why Grantham Says the Next Crash Will Rival 1929, 2000
Jan 22, 2021 – Bloomberg Markets and Finance
(DEF) (DNCVF) Defiance Silver – Fully-Funded Silver Junior in Mexico
Soar Financial – January 27, 2021
Presenter: Chris Wright, President & CEO & Doug Cavey, VP Corp. Development
(DEF) (DNCVF) Defiance Doubles Land Position at Tepal
by @newsfile on 27 Jan 2021
https://ceo.ca/@newsfile/defiance-doubles-land-position-at-tepal
Grantham can’t be wrong forever…
Ebolan – I apologize for just posting this same video up above, but thought the same thing when it popped on my feed. Sorry for the double post, but I just realized that when I saw your point on Grantham.
Using the selloff on the big MSO’s to accumulate some more Cresco. Hope I’m right obviously.
Thanks for keeping the cannabis stocks on top of mind Wolfster. I’ve been doing more diligence into those, like we discussed the other day with Trulieve and Curaleaf and Planet 13, etc…
What are your thoughts on (MSOS), the AdvisorShares Pure US Cannabis ETF?
Do you like that as more a basket approach, or like other sectors, do you feel that building a portfolio of individual companies that can be traded and rebalanced is the better way to go?
https://postimg.cc/2qQNP7tx
A possibly significant bottom.
Carbon Copy for GDX !!
Perfect. The XAU fell right to the 233 day MA that I circled yesterday:
https://stockcharts.com/h-sc/ui?s=%24XAU&p=D&yr=0&mn=11&dy=0&id=p30668766836&a=715271477
I prefer going with individual plays. While they all tend to rally or sell off as a group I find that there is always some that are moving more. Be it that it’s the flavour of the month so to speak or have news flow keeping it in the spotlight. Also when financials are coming out. Planet 13 has had nice moves when it’s financials have come out as they usually are better than anticipated.
Thanks Wolfster. At first I didn’t see your response down under this thread, but that makes sense to play them individually, versus the basket approach. I just have less time to devote to the cannabis sector, and figured the ETF may be an easier way for me to get exposure to the space. Yes, Planet 13 has been getting good traction in the market the last few years, and even get youtube pop-up commercials on it.
I’m not sure if you saw my comment the other day, but I finally put a toe in the water in the psychedelic medical science space, and took out a starter position in HAVN Life Sciences Inc. I wanted to go with the sector leader MindMed, but it has run far too high at this point, and potentially putting in a short term top. HAVN looked like a better entry point, but there are a few others I’m considering as well.
Wolfster, the XAU is just a good index to watch for the general condition of the whole sector. Gold is the same for me. I post charts of it all the time even though I am not trading it in any way. As far as I know, there is no way to play the XAU because there are no ETFs or other funds that track it. It is my favorite mining index to watch because of its composition and age. Notice that it is the only one that has not closed below its 233 day MA since March. The HUI and GDM have because they have little if any exposure to silver. So they give an incomplete picture of the sector which is particularly important during a bull market since silver related items always outperform gold ones.
Btw, SILJ jumped 6.5% in after hours trading which is probably at least one-third due to AG jumping 19%. Not surprisingly, the gold ETFs did squat.
Henrik Zeberg, macroeconomist on Palisade Radio. Very good listen. Looking for deflationary bust before all the inflation that literally everyone is calling for. I’m beginning to think perhaps we’ve all seen our highs in PMs for this run. Would really like to hear comments from Doc, Ex, Matthew and any other technical people on this page. There are some convincing charts included. Do yourself a favor:
https://palisadesradio.ca/
Silver, I’m in Zeberg’s camp and have said so—-I don’t expect the roaring economy most are when the vaccinations are in full swing and the pandemic virus is waning (in spite of the vaccinations)—I believe this quarter is recessionary and the PM stocks are signalling that with the PMs themselves to follow them down. The conventional markets are at considerable risk here and I’ve personally shorted them—-I asked my broker to reverse my short this am before the market open since the futures were negative and then sold after that nice down move. I wouldn’t be surprised to see the markets move back up to challenge resistance but watch out for February.
Thanks for the heads up SilverDollar – I’ll check out Henrik’s interview on Palisade later today.
Overall I’m still quite constructive on Gold & Silver for 2021, but do see the case to be very concerned at the nosebleed levels things are getting to in the general markets, and that a sell everything event could tank most sectors across the board. This is why I’ve been advocating since the tail end of last year for investors to raise some funds to be able to deploy, should we see a more meaningful correction, like we did last March.
I had a position on in RWM, for shorting the Russell 2000 index, but then sold it last Friday to go flat over the weekend. I just put the (RWM) trade back on today though, as a hedge to my retirement portfolio, still heavily exposed to the US general markets, particularly in the small caps.
As for the Silver price and the medium-term, bullish and bearish setup:
I’d like to see the 144 day EMA hold up as support (currently at $23.92), and below that next support is the 233 day EMA (currently at $22.54). A break below those levels would not be good.
On the bullish side, a break above that first congestion zone from the prior 2 mini-peaks at $26.13 & $26.14 would be a first step, then the next layer of resistance is that zone in the $27.64-$27.86 area, but ultimately, I’d want Silver to break above the recent peak from last January at $28.10, to be off to the races.
SilverChartist – Pro Insider Mid Week #Video Update.
Jan 27th, 2021 #TechnicalAnalysis
I am not far into the interview but the guest is making a big mistake in assuming that inflation (as in price inflation) requires the “demand-pull” of a decent economy. Like Bob Hoye and most other deflationists, he underestimates the Fed’s ability to devalue its currency to cause “cost-push” inflation.
The central planners (globally) purposely took extraordinarily economically destructive measures “to fight covid” not only to excuse their insane inflation (of currency/credit) but to help to mitigate/temper/slow its effects. In other words, they purposely created gargantuan deflationary forces to help them get away with even more gargantuan and ruinous inflationary forces and it IS working (by their standards).
There will be huge price swings in the assets (commodities) most affected by the trillions created out of thin air to make us doubt our inflation assumptions but deflation is not going to happen, not price deflation and not currency/credit deflation. Even the ominous parabolas that are so prevalent right now in the commodities complex might not have nearly the consequences that we should normally expect (like full price retracements) and the reason is the aggressiveness/speed/size of the repricing of all fiat-debt currencies in real, purchasing power terms. We are probably on the cusp of a “crack-up boom” as described by Mises. Which would explain my currently tentative very high targets for the stock markets. They sure don’t come from my wishes or biases but I can’t ignore the technical messages that I am seeing.
In the 1930s, the stock market fell 90% despite the dollar being devalued by nearly 40% versus gold. In the 1970s, the stock market essentially traded in a broad range for 15 years as the dollar was devalued by more than 95% versus gold. (Note that a 40% decline would leave the dollar with 12 times more purchasing power than a 95% decline would so the 1970 were an order of magnitude more inflationary.) Between Ben Bernanke’s writings about 15 years ago and the Fed’s actions since, it is safe to conclude that far greater inflationary policies will be implemented this time, as we’ve already seen for years.
Finally, consider this. The Dow-Gold ratio has had three major, multi-decade tops in the last century: 1929, 1966 and 1999. Each was significantly higher than the preceding one at about 19, 28, and 45 ounces to the Dow, respectively. Following the 1929 top, the Dow took 25 years to make a new high versus the dollar and a little over 36 years to make a new high versus gold. Following the 1966 top, the Dow took less than 17 years to make a new high versus the dollar and over 33 years to make a new high versus gold. Following the 1999 top, the Dow took just 7 years to make a new high versus the dollar and it’s now 21.5 years and counting for the new high versus gold. The question is, will we again see the Dow and gold reach parity or close to it? For many reasons, I am not nearly as sure as someone like Egon von Greyerz and countless others. Perhaps there’s been way too much focus on the inevitability of parity rather than on the percentage declines of the ratio. Dow-Gold fell 87% between 1999 and 2011 reaching just 5.8 ounces. Throw in a vastly more brazen and powerful government than we had in the past and it becomes easy to envision the ways in which that 5.8oz could be made to stick as the final low. For example, look at the weighting given to AMZN and big tech in the market indices in addition to the huge market share that the gov helps them to steal or otherwise secure. Of course there are other factors that could cement that 5.8oz low that are probably more compelling but won’t go into them now.
Will update if the rest of the interview changes my mind.
Matthew – Good points on the very real potential of cost-push inflation. If Copper, Nickel, Silver, Zinc, Lithium, Platinum, Rare Earths, etc.. keep climbing, and the US dollar keeps weakening the inflation will be there, and this will only underpin the whole commodity complex and monetary metals like Gold/Silver.
Yes, the pandemic was the cover governments and central bankers used to justify and disguise their inflation, that was really caused by years of fiscal mismanagement and malfeasance. They will continue to spend using their MMT Keynesian economics, and with stimulus now being pumped into the hands of businesses and even stimulus checks directly to people, this will increase the velocity of the expanding money supply and will end up being inflationary. Even if they suddenly stopped issuing more and more money and monetizing reckless government spending (which they can’t), the damage is already done.
Some very goods points there Matthew. I instinctively agreed with all paragraphs , except for #3. I had to go back and read through #3 a second time to ensure I grasped the sense of it. So, now I agree with all of your comments. Thx.
I could not help myself and bought more NSRPF today. Help!
Bonzo, I’ve been watching NSRPF and will purchase some at about the $1.25 level.
Hey guys, for now I’m just holding the 2 tranches I put into Novo, back in Sept at higher levels, but a larger tranche in mid December at roughly where prices are at today (within a few pennies). If Novo pulls back down another 15-20% from here, then I’d add a 3rd layer to the position, but I really want to see them execute on their production at Beaton’s Creek and get the initial kinks worked out before going in much heavier.
Ever Upward!
Novo is supposed to start pouring gold in a month or 6 weeks, and if they do they could take off. If there are glitches and they drop to 1.25 then I’ll load up the truck.
Bonzo – yes, these are exciting times over at Novo, and I’ve been following the stock since 2015, initially invested on just the Beaton’s Creek story back in 2016, and held until the melt up in 2017 when the metal detector videos started trending. I had waited on the sidelines for years, but when Quinton and team announced their takeover of Millennium Minerals last year, to acquire the mill and put B.C. back into production, it got my attention, as I’d been waiting for news like that for a long time.
Typically when ramping up production, most companies run into a few unforeseen challenges or bottlenecks, so if that happens, it is just par for the course. However, since in this case, the mine that Millennium held was already in production and the team there already knew how to operate the equipment, then I’d anticipate getting Beaton’s Creek into production will go smoother than most start up operations.
Yes, if Novo dips down like that it, I’ll be happy to add another tranche for the longer term thesis, where they get the ore sorting and processing going at their other properties at Comet Well and Egina going with the conglomerate gold. Bob M. feels they will create one of the largest gold companies on the planet over the next few years, and I don’t want to miss that journey higher. Cheers!
I’d probably consider when Bob’s book is about to come out as well, in terms of your purchase/timing. He’ll likely drop one or two promos about the company in advance, which would likely boost its share price.
Good point Canuckski. Bob M is a force of nature, and a solid guy. If he is correct about Novo Resources, and I believe there is a very good chance he is, then Novo may become an absolute Gold mining behemoth, but starting first with production at Beaton’s Creek, and then growing organically to get all the other huge land positions with conglomerates in Karatha at Comet Well, Purdy’s Reward, and Egina into production. At that point they can write their own ticket.
It’s been a busy day in the markets and I’ve topped up positions in Hecla, Silvercrest, Dolly Varden, Freegold Ventures, Ur-Energy, Azarga Uranium, Grid Metals, and a Short Russell 2000 position. I’ve got other stink bids out there waiting to get filled…
There are so many good opportunities showing up in this continued sell-down, and I’m so glad to have raised dry powder for days just like this.
It will be interesting to see if this is typical selldown running up to Fedbabble days, and if we see the trend reverse itself later this week and moving into next.
In addition to those mentioned above, I also added some more to my Endeavour Silver and Standard Uranium positions today.
Also, I’ve added back my Sierra Metals (SMTS) position, and just bought a little more into today’s weakness.
Hey Ex, I had the impression you were going to sit things out for the next month or so to see where things land. Especially given your thinking around the market drop possibilities. That’s all good because I’m at the point as well of doing a few picks into the end of this week.
Hi Canuckski. I’m in the markets every day doing swing trades around existing positions, but in late December and early January, I did mention trimming back some stocks that had really run in the PMs, and base metals (particularly Copper and Platinum/Palladium stocks). Last week I trimmed back some of my Lithium stocks, and the week before some of the Uranium stocks to move more funds to the side.
However, as things have sold off during January, and particularly in the last week, there are companies that I’ve always wanted to get positioned in like Great Bear, Sandstorm, Aurion, Atico, Liberty Gold, etc.. as well as get back into positions with some of the companies I had pared down to just tracking positions during tax loss selling season, but that still have good upside like Nighthawk, Brixton, Newrange, Azimut, Inca One, etc…
As a result, I’ve deployed more funds than I had initially planned on, but the market corrections have been more steep in many stocks I folllow than anticipated, and I’m fine if things break lower adding more. (of course, I’d much rather prefer that things bounce soon and we get a good rally.)
With Sierra Metals, I was not happy about their news of potentially selling key assets/mines, or selling the company at this point, just because Arias Resource Capital (the 52% stakeholder) wants to flip out to another deal. The stock has pulled back since then, and I realized it is hard to find smaller polymetallic producers focused on Copper, Silver, Zinc, Lead, and Gold, and thought, even if they get bought out for a 40% or 50% premium, then I’ll book the gain, and rotate it into something different.
Cheers!
Powerful PM indices Saturation;
however, a Gold retest is likely.
More downside is not precluded.
Continued Saturation is possible,
with additional shorting/selling.
https://postimg.cc/k6mZFGx4
Downside Dollar Gaps Covered.
Is it ok to ask if anyone trades Crude oil?
If not…looks like bull flag is testy. Any opinions or TA are appreciated.
AG, my gut and technicals suggest that oil pricing could move higher yet in February but then it meets considerable resistance.
Thank you sir.
I’d love to see a chart from the very knowledgeable chartist here.
https://stockcharts.com/h-sc/ui—–on the MACD, the 12 month MA is leading the 26 month MA higher and is signalling continual movement higher in February and potentially March. The ADX bullish and bearish lines look to intersect yet in February which also indicates an upward move yet in February. The slow stochastics look like they want to move higher yet in February to hit oversold at 80—hope that helps. The longer term markets are always more instructive on general trend versus the noise of daily and weekly chars.
I apologize: the chart didn’t come through—I’ll see what I can do about that—if you have stockcharts you can pull up the monthly chart.
Doc, at what price would you buy IRVRF?
Bonzo, it looks like IRVRF wants to fall out of bed in February. I would not be surprised if you could get it for $.50–$.75. I just wrote it on my watch list—-remind me to look at it as it moves down and I can give you a stronger number in the future.
Boy, Doc, I would be shocked if IRVRF fell below last March’s low of a dollar unless China invades Japan. Biden would do nothing if they did. What does the chart of NULGF tell you? Will they find an elephant gold deposit this year or not?
Bonzo, I own a boatload of NULGF at very low prices. I believe we could see .06 cents again—I would add at those levels—I’m a little concerned about the company since they have been drilling and so far nothing encouraging has come from their recent reports.
Top Gold Stocks for February 2021
JAG.TO Jaguar Mining is top for value, growth, and momentum
By Matthew Johnston – Investopedia – Jan 27, 2021
“Gold stocks, as represented by the VanEck Vectors Gold Miners ETF (GDX), had been outperforming the broader market for much of the past year, but have recently begun to underperform.”
“Jaguar Mining Inc is a Canada-based mining company that explores and develops gold properties. The company operates in the Iron Quadrangle, a prolific greenstone belt located in Minas Gerais, Brazil. The Iron Quadrangle has been a center of mineral exploration dating back to the 16th century. Jaguar’s gold mining operations include the Turmalina Gold Mine Complex and the Caeté Complex. Jaguar Mining recently announced annual gold production results for 2020.”
Jaguar is currently the 6th heaviest weighted position in my trading account, and had actually crept up to the largest position, until I trimmed some back on Jan 13th.
There has been much more coverage of this smaller to mid-sized gold producer over the last year, but it is one I’ve followed and invested in for some time and was a fantastic performer last year. I’d expect that trend to continue for 2021 as it is doing great at current pricing, got rid of it’s hedges last year, has Eric Sprott on board with 48% of the company (his largest gold holding), and now JAG is also paying a dividend to boot.
Ex and Doc, what do you think of HYMCZ? Ex, do you own Irving? I’d like more but Doc says waiting for it to fall to .50-.75 Wish I had waited a day to buy my DOLLF and my LGDTF, but Eloro shot up to 3.21 today!
Hi Bonzo – I don’t know anything about Hycroft Mining Holding, so can’t really comment on it, but it has had quite a move higher over the last 2 months. What do you like about it or what is the main value driver?
No I don’t own Irving, and had responded back to a different post of yours last week but maybe a bit too late for you to have seen it. The only Quinton Hennigh plays I own are Lion One, Novo Resources, Precipitate Gold, Goliath Resources, and he also consults Defiance Silver that I hold. Defiance has been halted all day. (hoping the halt in Defiance is for good drill results, so fingers crossed) 🙂
I added to my Dolly Varden position as well today Bonzo, and really like the story longer term. I had mentioned above also adding to Hecla, who I believe still may make another pass at acquiring DV. They had tried back in 2016, 2 management teams back, but I feel like this 3rd team, lead by Shawn Khunkhun, really has their ducks in a row and is doing meaningful work to explore and get the Dolly Varden story in front of more investors.
Obviously it would be best if a takeover like that happened in 2 years or so and not now, as I believe Dolly Varden has much further to run from it’s current valuation, and there is a shortage of quality Silver deposits in Canada. Alexco & Metallic Minerals have a good thing going over at Keno Hill, with AXU moving into production, but the universe of stocks that have solid Silver resources in place in Canada is quite limited, and this bodes well for DV if they can keep having success with the drill bit.
Bonzo – I had posted this on yesterday’s blog, but it is worth the watch if you haven’t reviewed it yet.
(DV) (DOLLF) Dolly Varden Silver – Pure Silver Play in the Golden Triangle (44 Mill Oz – 300 G/T)
Proven And Probable – Dec 18, 2020 #VIDEO Interview
“Shawn Khunkhun the CEO of Dolly Varden Silver Corp. sits down with Maurice Jackson of Proven and Probable.”
ex, I saw the DOLLF interview before I bought the stock. Thanks. IRVRF is a top pick of Moriarity, H Horseman, Jayant, and QH. HYMCZ warrants were given to Allied Nevada holders when the management stole the company. The warrant owners are trying to get the SEC to take their case. If they win the warrants could be worth $49 ea. I think there is a good case to be made and that the 100 to 1 payoff is worth the risk.
Bonzo – roger that and just wanted to make sure you had seen that thorough Dolly Varden interview.
Thanks for the update on Hycroft Mining Holding, and I remember that whole implosion with Allied Nevada, but didn’t realize Hycroft was intertwined with all of that. Good luck in those warrants, as that would be a fantastic out-sized return sir.
Yeah, I’m aware there are a lot of savvy investors positioned in Irving, and they’ve hit some exceptional grades in their exploration programs the last few years, but I have a portfolio chock full of advanced gold explorers and developers and just never got a position going in IRV, but I also wasn’t so sure about the challenges they may face if they want to develop that mine in Japan. I feel better investing in West Africa, Latin America, or even Fiji than I do in mining in Japan, but absolutely wish you and all investors great success in your Irving position.
Graphite Miners News For The Month Of January 2021
Jan. 28, 2021 – Matt Bohlsen
https://postimg.cc/qtf6RNYb
Piano tuned. High C holding !!