Marc Chandler – Markets & Gold At All-Time Highs; What Are The Common Elements?
Marc Chandler, Managing Partner at Bannockburn Global ForEx and Editor of Marc To Market joins us to discuss what he thinks are the key elements driving markets and metals to consistent all-time highs. The conversation focuses a lot on the upcoming election, central bank policies and broad economic data from around the world. Not just focus on the US we discuss recent data out of Canada and Europe and tie in the BRICS nations when it comes to currency moves and possible trade alliances.
American exceptionalism? He’s blind in one.
They’re saying that John Q Public has so far missed the PM train. JNUG up huge today. Expect some short squeezes? Volume in many explorers today.
I think a lot of pundits are still smarting from the last couple of years in the precious metal juniors. It’s hard for some investors to swing into different commodities when they are in flavor and then to get back out in time. Ex can do it, but he is a little bit different, oh mais qui Monsieur! Ex was getting all excited about the uranium market last night and most of us are just hoping for our precious metal stocks to give us some relief. Finally, I think we are headed for a raging bull, but it takes a while before your wounds heal.
Okay Richard, here we go, “I tell you some of these prices will look ridiculously low in another year or two. Watch that stock its going from 3 cents to $33. The possibilities of that company are unlimited.” It is all too easy to make money in the stock market.” LOL! DT 😉
This place isn’t what it used to be and that’s probably because the sector is getting ready for a once-in-a-generation bull market. This isn’t like 2016 or 2020 at all. Those were essentially head fakes compared to what’s happening now.
Speaking of 2016 and 2020 it looks like the Canadian dollar is about to make a run at its lows of those years.
https://stockcharts.com/h-sc/ui?s=%24XDC&p=M&yr=17&mn=0&dy=0&id=t1192614147c&a=1739579481&r=1729286852873&cmd=print
Gold:Silver ratio
Like SILJ and IPT, SLV had its biggest volume since May today…
https://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=1&mn=1&dy=0&id=p42047221179&a=1748045069
This was IPT’s second largest volume day of the year.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=0&mn=11&dy=0&id=p57624643014&a=1654079986
IPT’s weekly chart looks great and makes IPT a buy relative to the likes of GDX, NEM, SLV and even EXK in my opinion.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=W&yr=5&mn=0&dy=0&id=p37541702826&a=1778021324
Quarterly gold looks similar to the Q1 2006 setup but better (“better” meaning large gains will come quicker).
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=Q&yr=50&mn=11&dy=0&id=p18927027706&a=1808338243&r=1729306631708&cmd=print
IPT and Brixton are champion laggards. Same with Reyna Silver and Viper.
All of a sudden, they’ll explode, and you will be saying DARN, I sold too early. Slowly and then all at once! DT
Nothing to push BBB up!
I like Impact’s chart, second largest position I have.
Where is everyone today—what a great day. A lot of the precious metal stocks are showing breakout patterns and this is just the beginning. My portfolio was strongly in the black today. The only scary thing is how the gold monthly chart is . The MACD is taking out past levels and this suggests that the odds of a pullback are significant, however this time could be “different” and if we do get some consolidation for awhile we could then stay overvalued for some time and flirt with overbought on the MACD for significant months.