Sean Brodrick – Commodities Outlook For 2023 – Energy, Precious Metals and Base Metals
Sean Brodrick, Editor at the Wealth Wave website and the Natural Resource Specialist at Weiss Ratings joins us to look across a wide range of commodity sectors. We focus on energy (oil, natural gas, and uranium), precious metals (gold and silver) and base metals (mostly copper and nickle). Sean outlines what he likes, what he’s avoiding and what he thinks will be the major driving factors to consider for 2023.
Click here to visit the Wealth Wave website to keep up to date on Sean’s market commentary.
Big Ridge, BRAU
ps://money.tmx.com/en/quote/OREA/news/6116043624661165/Orea_Receives_Government_Approvals_and_Signs_Definitive_Agreement_to_Close_Acquisition_of_100_of_5_million_Ounce_Montagne_dOr_Gold_Deposit
My Darkhorse just came in, see link below for Orea Mining, (TSX-OREA) a 5- million- ounce gold resource, was just approved by The French Government, it could be much larger with expansion and infill drilling. We will see how that works out. Gort posted the link above! Nice Going Buddy! DT 🤩
I love this GDM chart; any questions?
https://stockcharts.com/h-sc/ui?s=%24GDM&p=W&yr=7&mn=7&dy=0&id=p55409209331&a=693558588
The gold miners are in for a massive run versus the stock market.
https://stockcharts.com/h-sc/ui?s=GDX%3AQQQ&p=M&yr=17&mn=0&dy=0&id=t2123595669c&a=1317575563&r=1672851034354&cmd=print
Re:
Matthew
Dec 24, 2022
I tentatively disagree. The week that just ended was important and kept the extreme bullishness scenario alive but not sealed. The coming week will likely give the answer.
Regarding IPT, on the 15th I told jon syl that “…yesterday it accomplished something that’s bearish on its face but sets the stage for extreme bullishness while also implying that the likes of GDX, SILJ, etc. will do the same soon. As such, don’t be surprised if IPT leads and smokes the ETFs when the next move higher gets going.”
The good news is that a certain important gold mining fund has now done the same (score one for IPT being first) but neither IPT nor that fund has completed the setup to activate a very likely BIG bull move of the sort that will even send the senior golds up 100% or more in 6 months to a year. I won’t share the nature of the setup but I will report it when IPT and the fund do what we need and I still expect IPT to deliver first.
————————————————
IPT’s 22% spike to a multi month high yesterday foreshadowed today’s action in which both IPT and (more importantly) the fund mentioned above/last week will deliver the rest of the bullish setup that I’ve been looking for.
It’s more than merely a good thing that sentiment is so supportive of the potential big bull move. Even most bulls have been little more than hopeful or optimistic rather than confident while the herd remains downright skeptical and/or scared. Perfect.
TURNS: https://tinyurl.com/52euebw7
PMs: “Don’t look back!”
Satchel Paige
After yesterday’s big drop to backtest supports the Canadian dollar is now perfectly in harmony with the bullish gold/silver miners.
https://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=1&mn=0&dy=0&id=p86755562575&a=1322049720
Stillwater, PGE, has been on a good rip for those who accumulated under $0.20 like I did.
https://schrts.co/ZbjAHIvI