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Joel Elconin – Market Rebound And Commodities Take Off

Cory
September 15, 2024

Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of PreMarket Prep joins me to break down this week’s market dynamics. The discussion covers unexpected market reversals, V-bottom formations, seasonality, and the impact of liquidity. 

 

Joel also provides insights on tech stocks like Nvidia and Apple that show strong relative performance. The conversation dives into commodities, highlighting recent rallies in gold, silver, oil, and copper, explaining the factors influencing their movements. Joel wraps up analyzing Oracle’s earnings and unexpected investor day announcements.

 

 

Click here to visit Joel’s PreMarket Prep website.

 

Discussion
11 Comments
    Sep 15, 2024 15:17 PM

    I read Ex’s write up on Goliath, very impressive. I know Eric Sprott was talking about Freegold Resources (again) (FVL) on the big board and they have around 10-12 million ounces of AU drilled up in a very favorable location for mining in Alaska. He is a long-term holder as well. It too has caught my attention. Why does it always seem that you can hold these stocks forever and when you lose interest they start moving. LOL! DT

      Sep 16, 2024 16:51 AM

      Thanks DT. Yes, I think the exploration work that Goliath is doing is impressive indeed!

    BDC
    Sep 16, 2024 16:24 AM

    https://www.tradingview.com/x/M2GFm74t/
    SILVER : Now at Two-Line Resistance.
    Uptrend Bear Flag and 78.6%.
    Retracement Possible.

    Sep 16, 2024 16:36 AM

    Shad- I read on ceo.ca site that SVM was going to be added to GDX? Is this true?

      Sep 16, 2024 16:51 AM

      Hi there Badermom3 – I had seen that post on ceo.ca as well, but don’t know. Apparently we’ll know this coming Friday (when that poster said Silvercorp would be included in the GDX), and it should be updated on the holdings within GDX in a week’s time on the following Monday.

      I’d rather see it have a more prominent position and larger weighting in SIL and SILJ, but being included in the GDX should bring in a lot more liquidity. I’m going to be looking at volume this week to see if the inclusion in GDX shows up in the ETF adding in a large chuck of shares. We’ll see how it goes…

    Sep 16, 2024 16:07 AM

    $2583……….. GOLD>……. who would have thought…. lol…………. 🙂

      Sep 16, 2024 16:13 PM

      It’s funny that the herd doesn’t grasp that all these new all-time highs for gold equal new all-time lows for the dollar. CNBC has the herd focused on the dollar index when it should be focused on PURCHASING POWER.
      “King” dollar is evaporating but the herd rejoices that it’s doing so more slowly than most other currencies.

        Sep 16, 2024 16:40 PM

        Ditto …..” focusing on Purchase power of the dollar”…….

    Sep 16, 2024 16:55 PM

    Priced in real money oil is down almost 50% since one year ago.
    https://stockcharts.com/h-sc/ui?s=%24WTIC%3A%24GOLD&p=D&yr=1&mn=3&dy=0&id=p93611929249&a=1108848486