Rick Bensignor, Dana Lyons – Finding the investing sweet spots in markets and commodities
It was a strong weekly close for US markets and commodities broadly. On this weekend’s show I focus on the sectors that are outperforming and which areas have more upside.
Please go back through the week and listen to all the Daily Editorials and Company Updates that we posted. It was another busy week. I love all the follow up questions for the guests and companies I interviewed. My email is Fleck@kereport.com.
- Segment 1 and 2 – Rick Bensignor, President of Bensginor Investment Strategies is back to provide his outlook for US markets, commodities and cryptocurrencies. Be sure to listen to his comments on the types of investors that are in the crypto space.
- Segment 3 – Dana Lyons, Fund Manager joins me to share the sectors that he sees opportunity in and those that are topping. We focus on value sectors and different commodities.
- Segment 4 – Marcio Fonseca, President and CEO of GR Silver Mining (TSX.V:GRSL & OTCQB:GRSLF) wraps up the show with an update on the recent high grade drill results from the Plomosas Silver Project and the work planned at the San Marcial Project, that is now 100% owned by the Company.
Exclusive Company Interviews This Week
- Baru Gold – Small scale gold production and 35,000 meters of drilling all coming in the near term at the Sangihe Property
- Organto Foods – Recapping financial results from 2020 showing over a 200% increase in revenue and a couple new supply agreements
- Tier One Silver – A discussion on the upcoming drill program at the Curibaya Project and when the stock will be trading
- Gold Bull Resources – Visible gold found in recent drilling at the Sandman Property
- Graphene Manufacturing Group – News on the development of Graphene Aluminum-ion batteries partnered with The University of Queensland
- Novo Resources – Answering your questions on the current mining at Beatons Creek, recent financing, and upcoming drilling
- Excellon Resources – High grade silver results from the Platosa Property and upcoming drill plans at Oakley, Killgore, and Silver City
- Kuya Silver – Updates on the exploration plans at both the Bethania Silver Mine and Silver Kings Property
- Aurcana Silver – Construction and exploration updates from the Revenue Virginius Mine
- Vox Royalty – Recapping Q1 revenue and near term growth from the royalty portfolio
- TraceSafe – Full overview of the product and technology lineup, updates on Revenue, and strategic partnerships with well knows companies and events
- Calibre Mining Corp – Q1 Financial Results, Resource Expansion, Growth In The Hub And Spoke Mining Strategy, And Aggressive Exploration With 15 Drill Rigs plus a Rio Tinto JV
- Silver Viper Minerals – Updates on the Maiden gold-Silver Resource at the La Virgina Project in Mexico, Growth of the El Rubi Zone, and exploration plans
- US Gold Corp – Updating the Summer work program at the CK Gold Project with a focus on the PFS scheduled for mid this year followed by a bankable Feasibility
- Granite Creek Copper – Kicking off the 10,000 meter exploration program to expand resources at the Carmacks Copper-Gold-Silver Project in Yukon
Take it to the politics section CFS.
Cheers, Cory. Thanks for all your efforts.
😎
Thanks Cory for another great and informative week of interviews. The volume and quality is getting better all the time. This is the go to site for what is going on in the precious metals area.
+1 Thanks to all the KE Report contributors to another full week of daily editorials, company updates, great insights and investable ideas on the blog, and another solid weekend show.
Ever Upward!
https://postimg.cc/G8hYMX6G
A GOLD date with $1862 (175)?
I wish my Group Ten Metals would catch some more headwind in this little rally. I call it a Little Rally”, because the bull has just started stirring. Few people imagine that this rally is the real deal like Ex points out. The enormous majority still expect “The Bear Market” in metals to go on and on. I can just see David drooling when his Group Ten starts to perform, that will be the canary in the coal mine! LOL! DT
DT
Not sure why Group Ten has been asleep. I guess it is waiting for more drill results or managed money to punch the button. I moved a few to Emerita in the mean time and if it corrects from its recent run-up, move some back…maybe.
The last post took time as I had to stop periodically and clean my key board.
I’ve often wondered what it would cost to buy a Director’s chair on The New York Stock Exchange. $100 million US might not be enough these days. It will never happen but at least I can dream about what I will do when these metal miners start to really move…………
I was thinking more like a beach chair. Considerably less cost with a better view.
Agreed DT. You wrote: “The enormous majority still expect “The Bear Market” in metals to go on and on…” and referenced my Friday rant. I’ll repost it here:
________________
It’s actually been a pretty good week for most of the resource stocks from Base Metals to Precious Metals, and from Battery Metals to Uranium stocks.
I’m still surprised by the lack of enthusiasm and negative sentiment in the PM space, but as Matthew mentioned yesterday, this likely bodes well for the next leg higher having longer to run as this move higher has been doubted since the double bottom in March. Even if this has been nothing more than a countertrend rally, it has already caused a number of charts in both Gold and Silver and the miners to break out of their downward trendlines, and it has put a bit of strength back onto the charts. Things aren’t completely out of the woods yet for the bullish thesis, but it is looking much more positive with the way things finished this week, and has still been a good tradable rally for anyone that was buying the metals or miners at lower prices.
Any way you slice it this action has been far better than the anticipated crashes to the low $1600’s or high $1500’s or Silver to $22 that we heard about from multiple technicians for most of Feb/March for April & May. Now maybe things will turn back down, but even if they do correct from here, it will have happened from a higher level, and may not be as dire as many anticipated. Conversely, if the metals and miners do keep running from here, then it will catch both bears and doubting bulls off-sides, and will have many people on the sidelines having sold at the wrong times, and have people chasing things higher. As the saying goes, “The Bull likes to shake as many riders off his back and inflict the most pain to traders on both sides, as he climbs the wall of worry.”
Whether this was a relief rally or the beginning of the next rally higher, it has been a good opportunity for gains for those that capitalized on the lower prices presented a few months back that added more, as long as people trim back some of the profits they made. I trimmed a few companies positions positions sizes back into the strength the last few days, just to raise a bit more dry powder, but am also happy to have seen the portfolio at a new high water mark to end the week.
Ever Upward!
Pulling up the 1 year Gold Chart, it is easy to see the W-shaped double bottom in March at both $1673 and $1677, and the succeeding rally since then through April & early May.
It was also bullish when the gold price got above the KAMA line and stayed there in early April, so that was a clear set-up for higher prices.
What remains to be seen is if this was just a relief rally or the beginning of a larger move higher. Another data point many are watching (including machine algos) is whether Gold can reclaim the 200 day moving average. It first fell under the 200 day SMA briefly back in November, and then again in Jan/Feb of this year. Currently the 200 day SMA is at $1856, and it will be interesting to see if the yellow metal can punch up through that resistance.
Shifting over the to Gold miners, if we apply the same filters to (GDX) on a 1 year chart, then it is even more bullish than the move in the metals.
We can see the same W-shaped double-bottom in March, but it was angled up and to the right with the second bottom being a higher low, which is more bullish. GDX also got above its KAMA line in early April which was bullish, and just recently it poked it’s head above the 200 day SMA, which is also bullish (if it can hold there and close above it for a few more days/weeks).
Gold Stocks: Massive Breakouts In Play
Morris Hubbartt – May 7, 2021 – Super Force #PreciousMetals #TechnicalAnalysis #Video
Tax Payment: real issue was whether the miners in my account would be able to move up enough to cover my pending tax bill or should I just sell on 4/1 to get the cash to cover the added tax burden from 2020 trades and hold it until 5/17. Based on Matthews charts and others like Ex that felt that it was not clear PM direction near term, I hung in and traded.
The tax was a 5 figure amount greater than 10% of my account. I had about 5 weeks to match the added tax bill…at least it was my goal. The tax amount was surpassed last week with a 5 figure bonus with another week pending. It reinforced that there was a fairly steady move upward in miners. As I reported all along, my account has been alternating days of stocks in my account keeping it range bound. However, the account was in the bottom of the range on 4/1 and just within the last week or two, went to the top of the range, and then achieve the highest level since July 2020. This was achieved in the alternating day performance, with some beginning to book profits even though not doing so on consecutive days. With the recent break through to the highest level over 8 months (I am still feeling staying invested is the appropriate risk. However, a massive day or several day smash will quickly correct that impression. Possibly that explains my rational for the last 8 months and explains why I leaned towards the bullish argument. That is “history” I can validate…and says nothing about tomorrow. FWIW info only. Now ai can start catching up with what has been going on outside my account.
I have not reached the July 2020 high as the initial take down before the channeling 8 month channeling, kept me in the area of a 25% take down. It could be I had too many explorers and not enough diversity if metals. They worked well in the upside…but led to the downside as has been said here on a regular basis. (A learning moment)
Dagid & Davud (David) – Glad you got the tax situation dealt with and that your account value is back to the upper end of it’s range again, showing that the uptrend in the miners since the March double bottom has been substantive.
It has actually been a nice tradable rally, for those that were adding at lower prices a few months back, as I mentioned repeatedly I was doing in late February through March, and I had blown out most of my dry powder during that phase (despite the many calls for much lower prices and caution). Personally my account hit new all time highs most of the last 2 weeks, and closed on Friday at the highest water mark it’s ever had. Much of that is because I actively manage my portfolio, selling the rips and buying the dips, because it would not have fared as well if I was a buy & hold investor just sitting there during the whipsaw. My biggest gaining periods in any sector have been trading the whipsaw and celebrating the volatility, not complaining about it. It’s hard to make money trading actively in flat to boring markets. The other reason my trading account has continued to chug higher is because I have been diversified across many sectors beyond just the Precious Metals – into the Base Metals (like Copper, Nickel, Palladium/Platinum, Zinc/Lead) and as well as Energy Metals like Uranium and Lithium, and other sectors like Battery manufacturers, Cryptos, Cannabis, Psychedelics, Inverse Market ETFs, and I’ve even swing traded a few of the Meme stocks for grins and giggles.
As for the taxes, my philosophy has always been, I’d rather make far more money getting the outsized gains of active trading, and then pay taxes on a successful year, then to worry so much about the taxation part of the equation, that I stay too dormant and miss out on fantastic gains. People that overly obsess about the tax ramifications of their business plan, in lieu of making large profits, are picking up pennies in front of a steamroller. It’s like people that worry about driving all over town to try and save a few pennies in gas to fill up their car, but then waste more money/time/focus on that process, (and then often go out and blow $4-$5 bucks getting over-priced coffees, cigarettes, or unhealthy snack foods at the gas station). I’d rather focus on large out-sized gains, and making more money, and then know going into it that I’ll have a chunk to pay in taxes as a result. I’ve got a buddy that is a multi-multi millionaire real estate investor that always tells me “I hope I pay millions in taxes this year, because it means I had a damn good year in business.” 🙂
I like the idea of moving things around during a choppy market. Not sure what David does.
Dagid
Makes sense to me Dagid. If you find out what David is up to, please let me know…
Makes sense to me Dagid. If you find out what David is up to, please let me know…
Not sure…appears nothing good. This weekend he was talking Eloro… like he doesn’t have enough. He may be right but I would do my own research. Not sure what he is on…
Eloro has been doing well. Yeah, I picked up a starter position in mid April, after I heard Q.H. discuss the Tin component along with the Silver at depth, and Bolivia is known for hosting large Silver/Tin deposits, so I figured I better have tracking position and build on it if they keep hitting, as it may turn into a monster deposit. May ELO continue to go!
Investing $2 Billion In Gold & Silver, Top Stock Holdings
Soar Financial – May 5, 2021
“We welcome Christopher Mancini, Analyst Metals & Mining at Gabelli Asset Management to discuss how they are allocating $2bn in the resource & mining sector, he also shares some top holdings on #SFLive Ep 179”
I wrote something sort of about bull/bear market. It went to the censorship area.
Maybe we are not permitted to discuss bull or bear markets, only sideways choppy ones.
Mine was mind of sideways choppy channeling break-out bull/bear with reference to charting, contributors and conflicting opinions. Might have bern spelling errors or misuse of grammar. Maybe just censored for lack of redeeming value or inappropriateness of thought and purpose. Hard to say.
mind = kind
I believe the recent (6 month) price increase in Group Ten was speculation about them being acquired rather than about anything else (e.g. drill results). That is why I sold them at 33 cents. IMHO, there has been enough time for that speculation to materialize. Of course, drill results may take it higher in price but I wasn’t playing that angle.
The movement higher was due to their great exploration results (both rock chip sampling and then drill results), as well as the rocket ride higher in the Palladium, Rhodium, Nickel, and Copper prices. In addition, Group Ten was picked up by more analysts and spent more on marketing to get the word out.
The potential takeover by Sibanye will still be some time away, and after they put out economic studies, and that is not why most investors have been following the story or the reason for their investment. While that very well may be a match made in heaven down the road, the likelihood of a Group Ten buyout was not the driver of the stock the last 6 months.
It was exploration results like these that moved the needle for PGE for anyone following the story:
– 2 Nov 2020:
Group Ten Metals Completes Drill Program and Large-Scale Geophysical Survey, Reports 11 g/t Palladium-Platinum and 0.70% Nickel in Rock Samples at Stillwater West Project in Montana, USA
– 12 Jan 2021:
Group Ten Announces Acquisition of the Stillwater East PGE-Ni-Cu-Co + Au Project in Montana, USA; Reports 0.89% Nickel, 0.66% Copper and 0.405 g/t 3E in Initial Rock Samples
– 3 Mar 2021,
Group Ten Drills High-Grade Nickel Sulphide in 455 Meters of Continuous Palladium, Platinum, Rhodium, Gold, Copper, and Cobalt Mineralization at the Stillwater West Project in Montana, USA
– 19 Apr 2021
Group Ten Metals Reports Coincident 9.2-Kilometer-Long IP Geophysical Anomalies at Stillwater West, Plans Multi-Rig Drill Campaign
That is a massive polymetallic deposit that Group Ten is onto in Montana, adjacent to Sibanye, and with a multi-drill rig exploration campaign on tap, there may be some waiting to see more drill results before getting positioned, which can be a prudent approach if one is unsure if there is any meat on the bone, but the team at Group Ten has already demonstrated in 2019 & 2020 & early 2021 the mineralization is there and robust, so waiting for more glory holes will only cause investors to chase it higher at this point. This years drill program will be their biggest to date, and there is little doubt that they’ll continue to hit pay-dirt. Once they compile all the drilling results from this coming season into a new resource estimate, and start putting the other data together for an economic study, then it’s more likely that their neighbors have something more to go on for a valuation and potential takeover.
This map shows the extent of the mineralized land package Group Ten has, and how it is adjacent to the largest Palladium mine on the planet, Sibanye’s Stillwater Mine.
https://grouptenmetals.com/site/assets/files/3597/location_map.931×0-is.png
It also helps that over the last 6 months coverage has picked up from Streetwise Reports, Bob Moriarty, Proven & Probable, Brien Lundin, and more recently John Feneck, amongst others. There aren’t many Palladium/Rhodium/Platinum/Copper/Nickel/Gold/Cobalt deposits of scale in North America right next to a proven mining camp, so anyone following the PGM space is likely watching how things go with Group Ten (and rightly so).
Cory also did a great interview with Greg from the Metallic Group back in February for anyone that missed it.
______________________________________
#KorelinEconomicsReport (02/08/2021)
• Greg Johnson, Founder and Chairman of the Metallic Group of Companies joins for a discussion on the broad strategies when putting together the three Companies in this group. The Companies in the Group include Metallic Minerals, Group Ten Metals, and Granite Creek Copper.
Then Cory did a deeper dive with Michael from Group Ten back in March:
___________________________________________________________________________
$PGE $PGEZF Group Ten Metals – A Battery Metals and Precious Metals Explorer Focused On The Stillwater West Property In Montana
#KorelinEconomicsReport (03/08/2021) #Palladium #Platinum #Rhodium #Copper #Nickel
“Michael Rowley, CEO of Group Ten Metals joins to follow up on recent drill results from the company’s flagship Property, Stillwater West in Montana. Michael provides an overview of the Stillwater West Project in terms of historic work and ongoing exploration. We focus a lot on the catalysts for year as the Company is planning on doing a lot of work at the project.”
How the Green Economy Will Be a Gold Mine for Copper
Barron’s – Andrew Bary – May 8, 2021
“Copper, a linchpin of the old energy economy, will play a crucial role in the new green one, too. Cables made of the metal are still the most cost-effective means of transmitting electricity from solar and wind sources, and it is a key material in charging stations and the electric vehicles that use them. Indeed, Goldman Sachs analysts say, there is “no decarbonization without copper,” which they call “the new oil.”
“Supplies, already tight as the global economy recovers, could be further strained by a predicted fivefold rise in green energy demand in the current decade, leading to significant shortages, starting in the mid-2020s, according to a report by Goldman commodity analyst Nicholas Snowdon. He sees copper, now around $4.50 a pound, hitting $6.80 by 2025. Bank of America commodity strategist Michael Widmer thinks the price could hit $6 this year.”
“Shares of copper producers, up sharply in the past year as the metal’s price has doubled from a post-Covid low, still have room to advance.”
https://www.barrons.com/articles/green-economy-will-be-a-gold-mine-for-copper-51620424287
Ex, just imagine the transmission lines that currently carry the power from the source to a residence, commercial, and/or industrial building, they will be undersized and because of the increase in electrical current, they will need replacement and upgrading. Now consider three to four billion Asians and their requirement’s once electric cars become mainstream. It boggles my mind.
Absolutely DT. Now think of the rest of the planet (besides the clear upgrades needed in the infrastructure in western developed nation) to all the Emerging Markets in South America, Africa, in addition to Asia and their need to for electrification.
Think about all the electronic gadgets (computers, tablets, smart phones, drones, electric warehouse equipment, electric mining equipment, stereo systems, etc…) in addition to electric cars, electric buses, eBikes and the like.
Think about all the infrastructure needed if people really get serious about the copper wiring needed to run to all the EV charging stations to supplant the gas stations for internal combustion engines.
It really is a mind-boggling amount of Copper that is going to be needed. As high as the red metal has already run (to new all time highs on Friday at $4.74), something tells me it is going much higher.
Ahhhhh the charging stations lol……yup I’m big on copper for that but I’m also big on charging point stock for that. Another Friday with my covered calls expiring
Wolfster – Yes, you’ve mentioned in the past that there were 2 different charging point company stocks you were in. I had them written down somewhere, but lost that post-a-note. Can you remind me of those 2 companies again, as it makes sense that whichever company is building the charging stations should see exponential growth.
Charge point is my fav ….other one is blink
Thanks Wolfster. Yeah, I’ve seen those Blink charging stations around now that you mention it. I’ll check out Charge Point as well. Cheers!
Global Metals & Mining: King Copper Once And Future
Berstein Research – Bob Brackett & Danielle Chigumira
“What makes for a good commodity stew? A dollop of demand strength. A sprinkle of supply concerns. A rising cost curve. Minimal threats from alternatives.”
“We see all these ingredients and more for the copper sector and are thus more bullish than both consensus commodity forecasts and the forward curve.”
“We provide 10 reasons why copper demand is robust: A 100-year trend supports growth, Per capita consumption modest but critical, infrastructure spending too low, Stimulus programs benefit copper demand, The EV revolution needs copper, Substitution and minaturization has plateaued, A circular economy for copper is impossible in the near term, Greening of electricity means copper wins, Copper serves a variety of endmarkets, and Copper least sensitive to carbon price of the metals.”
Continuing on in that Berstein Research piece on Copper linked above:
“We provide 11 reasons why copper supply may disappoint: Copper is geologically relatively scarce, Ore grades of copper fall over time, Productivity gains have been stagnant for years, Wage deflation can’t offsite productivity, We are finding less and less copper, We aren’t spending enough to find more, We aren’t spending enough to develop more, Ever higher environmental standards are lengthening time needed to approve, finance and execute mine construction, Consensus supply forecasts over-promise and under-deliver, Disruptions to supply are significant and inevitable, and Metals & Mining companies have remained disciplined and have not been paid for growth.”
It looks like the folks at Berstein Research have been spot on, when one looks at how the Senior and Mid-tier Copper producers have done over the last year+.
Check out the Copper Miners ETF (COPX) and it is a chart of beauty coming out of the pandemic crash last March at $9.48, and closing yesterday at $44.33. (more than a 4 bagger so far). Got Copper stocks?
Wage deflation????? Aren’t the miners constantly striking for higher wages????
I read that statement from Berstein Research as the deflated wages, that there has been for years, wasn’t enough to increase or offset productivity. Yes, the miners are constantly striking for higher wages, just like retail works, fast food workers, and almost all the labor unions.
Historically, wages have been stagnant for some time, and if they had kept up with the trends in the past, the minimum wage would be many multiples higher. This is why some have been rallying for a higher minimum wage, but I’m actually against the government forcing businesses to adopt a sudden spike to the minimum wage, as I’d rather see the free market do it’s thing without the government thumb on their backs, and let the market decide what is competitive for a given situation. If they don’t pay enough, then they won’t keep good staff, and if they overpay, then their pricing structure could cause them to lose business to competitors.
Regardless of where one stands on the debate of wages, it is clear that either through the preferable free market system, or through forced Federal rules thrust upon businesses, that wages are going to start going up. As wages rise, and are combined with the higher input costs of fuel and raw commodities and soft food commodities, then we are going to see Cost-Push Inflation rearing it’s head for some time to come, and no, it won’t be “transitory” central bankers…
Bubble and Gold Update: The Bigger The Base The Higher In Space
Smart Money Tracker – G.S. – May 8, 2021 (Gold comments start at 7:27)
Did you know bill Gates has a company that designs nuclear reactors?
speaking of did you know…
https://cdn-ceo-ca.s3.amazonaws.com/1g9dmdj-Bill%20Melinda%20Kevin%20Phoebe.JPG
Hmmm….I must assess the current value of this information.
Ha! Yes, it’s in an uptrend and breaking out to a new valuation.
The news had been breaking the last few weeks on the Gates/Klein circus, and just popped in there as an entertaining aside when CFS brought up Billy boy and his nuclear ambitions, amongst his many other ambitions…
I sold my Leading Edge Materials (LED-V) stock last week, because The Government of Sweden is not going to approve their mining lease renewal application for The Knorra Kar rare earth deposit. I suspect The Swedish Government sees this as in their strategic interests to nationalize. Unfortunately this will become more the norm in the future as China has a chokehold on many of the critical minerals and important base metals. Investors must now consider how the market has changed for these elements. DT
Wow. I hadn’t heard that DT, but that is big bummer for the Rare Earths space, as Norra Karr is one of the most substantial heaver REE deposits on the planet that was found in the last cycle by Tasman. Such a shame when world class deposits get shelved.
(UUUU) (EFR) Energy Fuels Engages Leading Consultant to Support Development of Rare Earth Separation at White Mesa Mill in Utah
“Carester has been engaged to support Energy Fuels’ planned development of REE separation capabilities at the White Mesa Mill, utilizing the Mill’s existing equipment and infrastructure to the extent applicable, to create a continuous, integrated and optimized rare earth production sequence. Carester’s scoping work will include an evaluation of the Mill’s current monazite leaching process, preparation of an REE separation flow sheet, capital and operating expense estimates, incorporation of new technologies where applicable, and recommendations on equipment vendors.”
“On March 1, 2021, Energy Fuels and Neo Performance Materials announced the joint launch of a U.S.-Europe rare earth supply chain. With today’s announcement, the Company is now taking another important step toward launching a fully integrated “mine to market” U.S. rare earth supply chain in the coming years.”
(UUUU) (EFR) Energy Fuels Engages Leading Consultant to Support Development of Rare Earth Separation at White Mesa Mill in Utah
“Carester has been engaged to support Energy Fuels’ planned development of REE separation capabilities at the White Mesa Mill, utilizing the Mill’s existing equipment and infrastructure to the extent applicable, to create a continuous, integrated and optimized rare earth production sequence. Carester’s scoping work will include an evaluation of the Mill’s current monazite leaching process, preparation of an REE separation flow sheet, capital and operating expense estimates, incorporation of new technologies where applicable, and recommendations on equipment vendors.”
“On March 1, 2021, Energy Fuels and Neo Performance Materials announced the joint launch of a U.S.-Europe rare earth supply chain. With today’s announcement, the Company is now taking another important step toward launching a fully integrated “mine to market” U.S. rare earth supply chain in the coming years.”
Meanwhile Ucore continues to drift despite good news
https://ceo.ca/@nasdaq/innovation-metals-corp-announces-execution-of-rapidsx
Yeah, I noticed that too Wolfster. I’m not sure what the deal is with the selling pressure in Ucore, but it is one of the best ways to get exposure to the Rare Earths space, not just for their assets in the ground, but much more so for all their processing capabilities of not just the REEs, but many other Specialty Metals and Energy Metals and minerals. I like that their main focus is on the downstream market. They are similar to NeoMetals in the Lithium sector in that regard.
Cryptocurrency Investors Should Be Prepared To Lose All Their Money, Bank of England Governor Says
May 7, 2021 – Ryan Browne
When asked about the rising value of cryptocurrencies, Bank of England Governor Andrew Bailey said: “They have no intrinsic value.”
“I’m going to say this very bluntly again,” he added. “Buy them only if you’re prepared to lose all your money.”
The prices of digital currencies from bitcoin to dogecoin have climbed wildly this year.
https://www.cnbc.com/2021/05/07/bank-of-englands-bailey-crypto-investors-risk-losing-all-their-money.html?__source=sharebar|twitter&par=sharebar
Currently Bitcoin is priced at $59,300 per:
Really Ethereum has been the one gaining more ground lately though, up at $3,824 now:
Is Dogecoin’s Price Rise One Big Middle Finger to the System? “Bubba” Horwitz Comments
Stansberry Research – May 5, 2021
“On Wednesday, longtime crypto bull Mike Novogratz said in a CNBC interview that dogecoin’s massive rally this year can be seen as a kind of “middle finger” to the traditional financial system. The price of dogecoin surged again early Wednesday. The cryptocurrency, which initially launched as a joke in 2013, was now approaching 70 cents per token, putting its year-to-date gains at nearly 14,000% and its market value at close to $90 billion. Our Daniela Cambone catches up with Todd Bubba Horwitz of bubbatrading.com for his take on Dogecoin’s rapid rise and whether it’s a revolt against the Federal Reserve.”
Gold Is Five-Times Less Carbon Intensive Than Bitcoin – Skarn Associates
May 8, 2021 – Kitco Panel Discussion
“For a dollars worth of bitcoin CO2 emissions are between 2.2 to 2.3 kilograms versus just 0.5 kilograms of gold, said Mark Fellows, co-founder of and director at Skarn Associates.”
“On Friday, Fellows recorded Kitco Roundtable podcast with correspondent Paul Harris, Mining Audiences Manager Michael McCrae and editor Neils Christensen.”
“In addition to Bitcoin, the panelists discussed record high Copper prices, the dismal Jobs Report, Bacanora Lithium-Ganfeng Lithium acquisition and Pandora Jewellery dropping mined Diamonds.”
2:04 Record copper prices
11:19 New Found Gold
16:21 Pandora Jewellery drops mined diamonds
20:48 Ganfeng Lithium acquires Bacanora Lithium
The FED is Overstaying Their Welcome and There Will Be a Price to Pay – Peter Boockvar
Jay Martin, Cambridge House – May 8, 2021
“Peter Boockvar, CIO for Bleakley Financial Group, a $3.5b wealth management firm, and Author of the Boock Report, discusses the state of the markets in 2021, why commodities are still worth buying, Peter’s take on bitcoin, the vaccine-led recovery narrative, inflation in 2021, and the FED.”
You know how everything these days are acronyms, Ex you are an RR, a rascally rabbit. LOL! DT
Thanks for the kind words DT. At first I thought you meant a Rick Rule, but then I saw the Rascally Rabbit part. 🙂
http://3.bp.blogspot.com/_rTJ1M07yw3w/TUAi0pifxFI/AAAAAAAAEEQ/GAGQOqaMt3c/s1600/bugs-bunny.jpg
How Rick Rule Could Have Doubled His Wealth
Mining Stock Education – May 6, 2021
“Looking back on his entrepreneurial and investing career, Rick Rule shares the key thing that he would do differently and which would have more than doubled his wealth. Rick also discusses being an activist investor in the resource sector and whether most managers listen to investor feedback. He shares how he played the move in copper juniors in February and explains why non-entrepreneurial investors may have an advantage over entrepreneurs who speculate in mining stocks. Rick also discusses the expected higher capital gains tax in the U.S. and how a U.S. investor might deal with that. Finally, Rick shares his goals with Rule Investment Media.”
0:00 Introduction
0:53 “I’m a bit of a freak”
4:11 Non-entrepreneurial investors can succeed and perhaps have an advantage
8:11 Activist investor
11:52 Shouldn’t management listen to the little guy’s feedback?
13:35 How did you play the move in copper juniors in February?
17:18 How Rick Rule could have doubled his wealth
19:25 Better newsletter writer: geologist vs successful speculator?
20:38 How to deal with higher capital gains tax as U.S. investor?
23:41 Rule Investment Media & still doing portfolio reviews
I thought his first response to a tax question of how to deal with them, was interesting: Denounce citizenship and leave the country. Both he and the moderator then decided they did not want to leave.
My thought is that if a sovereignty is involved in the manipulating of prices in a market either by direct action or indirect action like “failure to regulate criminal activities”, then that sovereignty or any sovereignty forfeits the right to tax that market. Also, the Easter Bunny is real.
Yep. All bark and not bite. Lol!
The best way to deal with the tax situation is not to elect socialist politicians that want to steal/tax their citizenry to fund all their wacked-out big government pet projects. If people vote in “big government” nanny-state politicians, then it should be of no surprise that they they are going to tax the snot out of those that do, and give to those that do not. Since this trend is picking up speed in most of the developed world, to tax and steal from their citizenry, then I’m not sure where folks would go to anyway. Is Canada or the EU any better? Obviously not.
Don’t forget corporate bailouts. We should not rule out getting rid of Citizens United and get rid of the “corporate person” and put the real person in jail. Also shouldn’t rule out bankruptcy, restructures and breakups. Bailout, particularly without audit of the Fed, is spending our money. The Fed has no money.
Absolutely David. I was totally against the bailouts and “too big to fail” government intervention. In a truly free market the losers with bad business policies will fail, and yes jobs will be lost, but then new businesses or existing competitors will fill that gap, and new positions will be created. Taxing citizens through the destruction of the fiat money through the constant increase of money supply to bail out bad leadership in Corporate America, and failed business decisions is sinister.
I have tried to post a very important link on here from Mike Adams , that everyone should read… Bombshell….It is posted over on the other page of the weekend show. Please take the time to read it…… Thanks.
Irish Tony, Mike Adams is really worth listening to, Thanks! DT
>>It is posted over on the other page of the weekend show<<
With 45 comments posted here so far, I see only one web page. Sorry to be so slow, but can someone direct me to the "other page of the weekend show"? Perhaps I don't see it is because Irish's comment with the link is still being reviewed by the forum's moderator?
If you click on the Politics link on the left hand side of the page with the American flag, that is where hour 2 of the weekend show gets posted.
No comment needed from me.
https://www.reddit.com/r/Wallstreetsilver/comments/n8brmh/silver_can_be_used_to_save_lives_in_many_ways/
Around a year ago I was watching Capstone Mining (CS) and then it completely fell off my radar. Did I ever miss a huge run up in this copper stock, by chasing gold juniors. Capstone mining is up just over 1200% in one year. None of my other stocks have come close to that amount of appreciation. Diversify, diversify, Diversify! DT
Bingo DT. Most of the Copper producers are up 400-1000% + over the last 12-18 months, and even the (COPX) Copper Miners ETF [that also includes an allocation to Capstone mining] is up over 400% off the March pandemic crash lows from March of 2020. As we’ve stated a million times on here over the years, when the worm turns in any commodity sector, the money flows into the larger producers first, because they can monetize and take advantage of the rising metals prices immediately. The Developers then move next as their projects get re-rated higher based on the much better economics. Finally, down the road, the exploration projects get a bump as investor capital moves down the food chain.
The moves in the Copper miners have been stellar for a long time, just like the moves in the Nickel/Platinum/Palladium stocks, or the Zinc/Silver/Lead companies and Iron companies. Look at how well the Senior Base Metals companies have down the last 14 months, it’s the same story there with massive out-performance to many sectors, including the gold stocks, and yes, that is precisely why it is wise to diversify. I ranted on this subject up further in this blog thread, so will leave it there.
Keep Ranting, Ex, the vision was in front of me like it always has been, a magical order built on the new science of copper being dominant not oil. Roads swarming with 300 million electric automobiles, electric planes, hundreds of thousands of miles of high tension wire carrying power to billions of labor saving machines. Vast cities built of concrete, glass, and copper. Now maybe it has sunk in. DT
Yes DT. Welcome to the future!
Ever Upward!
Ex. you know what is really weird, you could go back to The United States Of America in the 1920’s and you would see the same thing, only if you were astute enough to realize what was happening at the time and only in America. I just hope that they find their way again. DT
Yes, in the 1910’s it was hard to spot the autos, then in the 1920’s it was hard to spot the horses.
https://qph.fs.quoracdn.net/main-qimg-3259b1745e0fa258dbad9324f2e1b49f
Let’s hope it doesn’t happen again although all the signs are there only the flakes won’t see it!https://www.youtube.com/watch?v=FAZjlxWNszw
Who wants a gold update?
Give me a holler!!if I don’t get enough hollers no update sorry 🙁
Glen
Remember ladies and gentlemen, what goes up must come down and what goes down must come up.
I don’t think I remember any other time the amount of bullishness and gold bugs ever. It seems every investor and big bloggers named by ex is bullish. At this point either me and doc are left at the dog house or every gold bug is making millions lol..
Again I have the utmost respect for Matthew and he is my buddy meaning friend aside from what we chat here. Gdx has a massive monthly gap that many of you investors don’t even think about. Matthew will argue those gaps can go months yet years without being filled. The issue is the gaps on the monthly don’t even have great volume which implies we are dreaded down soon. Many of you think gdx will fill but my chart tells me we will blow back down through those gaps. Listen matt could be right the gold price has bottomed but Matt could be wrong it hasn’t and that’s why ex won’t commit to either scenario.. and good in ex because we don’t have 100% confirmation what’s happening. Just so you all have an idea 2008 had the exact same scenario.. gdx got this high before getting crushed. There was gaps and then got crushed to get filled. We are at an inflection lint gold screaming higher yet miners not truly moving as ex mentioned on Friday. This is called a red flag
! Miner particularly small cap and speculative miners and even mid tier continue to breaks lower. Matthew will argue all is good from a year ago.
Impact silver hit a high of 1.25 and had gone as low as .63 and Matthew is saying all is good.. not sure if you guys understand but that’s a whooshing 50% correction and it ain’t over. Impact has a date with at the very least .48 cents
Glen told you long ago we are headed lower and the monthly chart is saying it!
Good luck to all
Disclaime: I love Matt and I will continue to challenge him and won’t pull back. Many of you get scared from his calls and his views. I respect him period but I’m challenging him currently. The miners are headed down
Glen
Glen, I’ll just point out that i traded all the big swings in IPT, so yes, all is good. It is one of the easier ones to trade so I assumed you were doing the same. I guess not! You have to be able to spot opportunity like when I told you it was a buy at .67 and you said no way. It then went up about 30% and I trimmed it back again. My IPT stake swung by 6 figures several times since topping last summer due to my trading it. Currently, I am quite loaded up again so if it plunges from right here I WILL get caught since I am very unlikely to sell a share anywhere near this level.
No comment on my GGO going up 115% in 6 weeks? 🤨🙂
I really think you should study my GDX:QQQ chart because it says the miners have put in a major low versus stocks AND the dollar.
https://stockcharts.com/h-sc/ui?s=GDX%3AQQQ&p=W&yr=3&mn=7&dy=0&id=p01810000361&a=948507271
Next, you can study this XAU:DIA chart:
https://stockcharts.com/h-sc/ui?s=%24XAU%3ADIA&p=W&yr=5&mn=0&dy=0&id=p85068201378&a=707626462
How about XAU:Gold? It quietly made a new 8 hear high last week after a long beautiful bullish consolidation. Like XAU:DIA above, it too painted a big bullish engulfing candle last week:
https://stockcharts.com/h-sc/ui?s=%24XAU%3A%24GOLD&p=W&yr=5&mn=6&dy=0&id=p62855152234&a=847495455
XAU:Gold is up 21% since bottoming in January and most completely missed it.
To all the viewers tonight you are getting a paper view knowledge at a free discount!
This means you don’t get this often.. I understand Matthew so if I may matt i know from what you have told me before that Matthew has long lost positions in his miners that he won’t touch no matter what even if they go down which he would add to them! I’m in the same boat. Matthew is an expert in day time trading short term and intermediate term. He simply is a boss at that I don’t do that and I’ve made it clear…
So when Matt says he traded impact at .63 and up and down I don’t doubt it. He is that good I don’t make my money that way. Doesn’t mean he doesn’t make his money like me longer term.
What I have an issue with Matt is I feel he “ may” mislead investors when he says he is in etc and really he is in for a shit term trade Mike he just mentioned and other investors take his approach the wrong way! Which means many followers could have got in at .86 or .74 and they feel that’s great and Matthew knows we are headed to .48 like I do a d those investors following Matthew get it in the arse.
I just fell Matt sometimes your not so transparent I wish you could say I’m trained this for the short and this for long. I’m your buddy but you confuse many sometimes
Btw, XAU:Gold is currently at its strongest monthly RSI reading since 1993. Is that meaningless to you?
If you bears are going to buy some time, you better do it this week…
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=5&dy=0&id=p82586199061&a=951084048
Whether IPT is going to hit those obvious gaps or not, you know that the short term has been improving and is more likely to go higher from here than lower.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=1&mn=1&dy=0&id=p05450167081&a=947401553
Note that those gaps do not exist on charts larger than the daily and that makes them much less important in this environment where the big charts are completely in charge. Take a long look at this monthly chart and the 15 year old fork that’s providing support along with the 200/233 month EMAs:
https://stockcharts.com/h-sc/ui?s=IPT.V&p=M&yr=20&mn=11&dy=30&id=p92543437387&a=456018632
Now take a look at IPT’s quarterly chart and that MACD. It Trumps the monthly MACD sell signal and suggests that some sideways action is probably the worst case scenario (but I think it is going higher sooner rather than later)…
https://stockcharts.com/h-sc/ui?s=IPT.V&p=Q&yr=30&mn=0&dy=0&id=p92285493411&a=762276021
One more thing, Glen. Anyone who feels that I am misleading them when I share what I share should stop reading my comments completely, and that includes you. It’s as simple as that.
I bought IPT at and around .67 when you were strongly warning everyone NOT to buy and anyone who did what I did could have sold at a much higher level if they wanted to. Had they listened to you, they would have missed as much as a 30% rise on top of missing the bottom in the senior miners MONTHS ago — and you never did turn bullish like you should have.
I’m not always right but I do what I say I’m doing and everyone here better know that I am just another person with an opinion. Furthermore, I’m not getting paid by anyone so I won’t be holding anyone’s hand through their decisions.
Matthew nothing personal and forgive my grammer!
The miners are going down! Period for now
Let me rephrase!
Most miners are going to make another move down before up.. I’m that confident that o would bet Matthew here ok ker that impact silver is head to at least . 48 if he wants to take the bet? So for all my followers glen is here and is putting himself out there challenging I
His guru who most of the people in here are scared to challenge.
Matt can we have a friendly bet? Impact is heading down to .48 guaranteed?
What’s your verdict?
Matthew,
It really bothers me you call me a bear because you know me so well.. that’s cool..
That’s resistance line on your chart has gold going back down to $1750 at the very least and if your going to discount the 2008 correction then you may be on the wrong stick of things and your finally going to look bad 😬
What I’m saying is gold and gdx monthly bath went up before heading down I’m sure you notice and your followers that gold is so far off the monthly 50 day moving average.. lol people are going to learn the hard way why ex again won’t commit he has an idea
Glen
Glen, you’re a bear by definition because you think everything in the sector is still going lower. Why would that bother you?
Matthew,
Quit the nonsense I’m not a bear lol I’m invested fully long term almost 82% of my portfolio and made it clear I have about 8-12-% percent cash on hand and raising more up to 15-20% if I can to put into action..
Why is it if I see something different then you in called a bear? I think that’s unfair..
If I wish it to go down it’s probably because I want to unload my remaining cash you would think I would have your support.
Regardless Matt we will see in a week who has it right. Currently the double bottom looks good but that same double bottom or very similar happened in 2008 and we had the same current explosion up as we are having only to make a horrible turnaround and go right back down to new lows. So to say that events before of this nature have not happened I coding three more tha if gdx monthly gaps not being filled is lol! Plain and simple
Glen
Glen, if I thought the sector was going lower, I’d call MYSELF a bear.
That double bottom looks better than you realize.
Is your friendly bet because you missed the low in the seniors and I didn’t? 🤔
I’ll pass because getting married to one outcome is not how you make money and is, in fact, destructive. You know from our emails that there have been many instances over the years in which I did not give you many of the targets that you asked me for and now you know why. No offense but I have watched you ignore basic technical developments over and over again in recent months because you let yourself become fully invested in a specific outcome. I know from experience that you will lose money with that approach.
I am open to the possibility that IPT can go lower but I think the odds are slim. Either way, it is likely going higher from here so I will watch for signs that the rise “isn’t right” and take action from there.
Relative to silver, it has already fallen back to March 2020 levels as well as established uptrend support.
https://stockcharts.com/h-sc/ui?s=IPT.V%3A%24SILVER&p=W&yr=3&mn=0&dy=0&id=p41427271495&a=951207497
Matt,
over the last 3 weeks, even Ramby has heavily reinvested back into the PM’s is a substantial way….even buying NUGT! To me that is a sign we are heading higher. He could be wrong, but either way peeps have time to re enter these pm’s….maybe another week before $1920 is hit or blown right through. 1850+ is where the stock finally rip upwards. Again he could be wrong and is absolutely open to other potential negative outcomes….humility is the key and not being married to just one narrative is key! I wish I had that discipline!
I’m up against some serious challenge! Remember Dt and David are on record stating Matthew is a god and the best chartist ever and he timed the direction perfectly yet we have no 100-% guarantee yet!
Larry and ex both said yet to be determined…
Me and doc say lower…
Jerry is worried he has not commented! Just kidding Jerry
There is a long list of gold bugs!
I’m going to wait to see how this goes but I have many of you in record and you better pray we don’t head lower because I’m calling each and everyone of you out lol…
Ex and Larry are the only ones who get a pass including me and doc!
Glen
Good to see you posting again Glen…..if I’m being labelled I’m in Matthews camp I guess….or in my own which is between Larry/Ex camp and Matthew camp on the bullish side
Hey Glenster, it’s good to see you so active here today. I’ve been busy on some other investments, so have been checking in on a limited basis.
I have been impressed with your uncanny ability regarding the past couple of calls, so, to me, that gives you some legitimacy. Keep posting. thanks.
I’m a bit hesitant on calling something at this point because I’d rather wait and see, but if I’d have to bet then I’d say we would see a rise here.
No offence.. but no thanks.
Btw Ex I see orezone is starting to head higher again. I’ve still got the warrants for great leverage trade….I was wondering if you get a chance if you could let me know where you think they are on the Lassonde curve in your opinion….I’m not very good at that at all..
OCGSF, Outcrop Gold positive drill results, Sprott holding, cheap down here….
Wolfster. Yes, I really like Orezone, and feel they’ll to move higher as they continue on their “Golden Runway” into first gold pour, or potentially a takeover of their project by one of the big boys.
Pure Gold is in a sweet spot for investors/speculators/bankers/ golfers/skeet shooters/you name it is at the right spot at the right time, and it will just keep getting sweeter. DT
Michael Boutros (10yr and DXY 2:00, Gold 36:30)
https://www.youtube.com/watch?v=0SeKv3_SeQ4
This weekend Rambus said he thinks the bottom is in for gold and silver stocks. If Rambus, Savage, Adam Hamilton, QH, Moriarity, Matthew, and Bonzo all think the bottom is in, you’d better believe it or you’ll go to hell, or at least left waiting at the station.
Labrador Gold was up 15% today before trading was halted. Will New Found Gold buy them?
NFG may be interested in Labrador, but they have not really had drill results to show they are worth buying. I would think Labrador is halted because of drill results, but nothing out yet. Novo owns shares in NFG and Quintin Hennigh advises both NFG and Labrador. I think everyone is hoping the Halt is for some “good drill results”…stay tuned.
Yup even sassy resources has been moving up. They are next door to NFG
Some movement in Emerita today also. Unclear if sampling results are driving the move, but very possible.
Eloro also looking good. I wanted to add but not today. But, looks like some interest anyway.
NFG, Pure, Irving, Eskay Mining, Eloro,Dolly V, LOMLF, and TLRS are moving up nicely today, but NULGF and NSRPF are down. Still it a great day.
I might add that my miners are again in the alternating day pattern…still
Walked back from opening…waste of a good start.
We’re close to a Marxist American disaster…..even Elizabeth Warren can feel it:
https://youtu.be/AIpec-8YIeI