For precious metals investors there are a number of factors lining up to support the recent rally
John Rubino, Founder of the Dollar Collapse website joins me to share the factors that he thinks are driving this rally in gold and silver. Looking to a wide range of markets and data the bullish case for gold has really come back over the past couple months.
Knock-Knock
Who’s there
John/Cory
John/Cory Who
John /Cory No Show.
Oops. Wrong link. 😉
https://juicyquotes.com/wp-content/uploads/2016/05/Funny-Knock-Knock-Jokes-3.jpg
Silver Price Forecast – Silver Markets Testing 28 USD
FX Empire – Christopher Lewis – May 17, 2021
“Silver markets have pushed towards the $28 level yet again, and as we have seen more than once, the market has fought any type of break out. Nonetheless, I do think it is only a matter of time before we get that breakout and go looking towards the $30 level.”
“In the short term, I anticipate that pullbacks will be thought of as potential buying opportunities as silver is so heavily needed for the reopening trade and of course the “green new deal.” Because of this, I think that silver will continue to be highly sought after, especially as the US dollar has been on its back foot. It should be noted that the dollar picked up a little bit of strength early in trading, so that might be part of the reason why we have seen a little bit of a pullback. Nonetheless, I think there is plenty of support underneath to drive this market to the upside, as the $27 level is very supportive based upon the most recent pullback, and then of course we have the 50 day EMA underneath that has been reliable.”
The Wallstreet Silver guys are asking if we just hit $28 Silver?
https://twitter.com/WallStreetSilv/status/1394307083604959237
Let me help them out. Yes.
Silver is currently at $28.37 in afterhours trading.
Lots of #GreenOnTheScreen for the Silver producers today (except Americas Gold & Silver that got creamed on bad earnings, and continual challenges in Mexico and Nevada).
Symbol – $Silver #Producers – Daily Change %
HL Hecla Mining Company +16.53%
GATO Gatos Silver, Inc. +16.19%
EXK Endeavour Silver Corp. +12.04%
CDE Coeur Mining, Inc. +11.84%
GGD.TO GoGold Resources Inc. +10.74%
SCZ.V Santacruz Silver Mining Ltd. +9.89%
PAAS Pan American Silver Corp. +9.11%
GPL Great Panther Mining Limited +8.74%
ASM Avino Silver & Gold Mines Ltd. +8.66%
AG First Majestic Silver Corp. +8.62%
AYA.TO Aya Gold & Silver Inc. +7.35%
SSRM SSR Mining Inc. +6.84%
SMTS Sierra Metals Inc. +6.80%
SVM Silvercorp Metals Inc. +6.78%
AXU Alexco Resource Corp. +6.27%
FSM Fortuna Silver Mines Inc. +6.01%
IPT.V Impact Silver Corp. +5.63%
HOC.L Hochschild Mining plc +4.73%
EXN Excellon Resources Inc. +3.86%
FRES.L Fresnillo plc +3.46%
Even most of the juniors with Silver exposure found some green shoots today.
Symbol – Silver #Explorers & #Developers – Daily Change %
ISLV International Silver, Inc. +76.47%
ASLM American Silver Mining Co. +23.95%
FCO.V Fabled Silver Gold Corp. +23.08%
ANZ.V Alianza Minerals Ltd. +21.05%
ARD.AX Argent Minerals Limited +18.60%
VGLD.V Vangold Mining Corp. +18.52%
SXL.V Slam Exploration Ltd. +16.67%
KS.V Klondike Silver Corp. +11.76%
MTR.L Metal Tiger plc +11.50%
MSV.TO Minco Silver Corporation +11.11%
PLA.V Plata Latina Minerals Corporation +11.11%
MMN.V Monarca Minerals Inc. +11.11%
AUMN Golden Minerals Company +10.78%
SDR.V Stroud Resources Ltd. +10.53%
UFO.L Alien Metals Limited +9.09%
DV.V Dolly Varden Silver Corporation +8.70%
ABRA.V AbraSilver Resource Corp. +8.70%
FAT.CN Far Resources Ltd. +8.57%
VIPR.V Silver Viper Minerals Corp. +8.51%
CKG.V Chesapeake Gold Corp. +8.37%
SSE.V Silver Spruce Resources Inc. +8.33%
MAG.TO MAG Silver Corp. +7.88%
ASL.V Argentum Silver Corp. +7.69%
GOG.V Golden Tag Resources Ltd. +7.41%
SSV.V Southern Silver Exploration Corp. +7.41%
SLVR.V Silver Tiger Metals Inc. +7.25%
KTN.V Kootenay Silver Inc. +7.14%
AUN.V Aurcana Silver Corporation +7.06%
IVR.AX Investigator Resources Limited +6.90%
VZLA.V Vizsla Silver Corp. +6.45%
SIL.TO SilverCrest Metals Inc. +6.01%
SVB.TO Silver Bull Resources, Inc. +5.94%
DSV.V Discovery Silver Corp. +5.94%
SVL.AX Silver Mines Limited +5.88%
AUU.V Gold79 Mines Ltd. +5.88%
RSLV.V Reyna Silver Corp. +5.49%
SAE.V Sable Resources Ltd. +5.41%
CLZ.V Canasil Resources Inc. +5.00%
SSVR.V Summa Silver Corp. +4.80%
KUYA.CN Kuya Silver Corp. +4.74%
WRM.AX White Rock Minerals Ltd +4.60%
AZR.V Azarga Metals Corp. +4.55%
ELO.V Eloro Resources Ltd. +4.50%
NUAG.TO New Pacific Metals Corp. +4.47%
DEF.V Defiance Silver Corp. +4.17%
TUF.V Honey Badger Silver Inc. +4.00%
CDPR.CN Cerro de Pasco Resources Inc. +4.00%
SMI.AX Santana Minerals Limited +3.85%
CMB.V CMC Metals Ltd. +3.85%
NBR.V Nubian Resources Ltd. +3.70%
CCM.TO Canagold Resources Ltd. +3.09%
GRSL.V GR Silver Mining Ltd. +2.94%
VRR.V VR Resources Ltd. +2.94%
SVE.V Silver One Resources Inc. +2.82%
RRI.V Riverside Resources Inc. +2.78%
ZAC.V Zacatecas Silver Corp. +2.56%
BHS.V Bayhorse Silver Inc. +2.22%
BNKR.CN Bunker Hill Mining Corp. +1.82%
AZT.V Aztec Minerals Corp. +1.75%
ELEF.TO Silver Elephant Mining Corp. +1.39%
BRC.V Blackrock Silver Corp. +0.61%
BCM.V Bear Creek Mining Corporation +0.52%
Once upon a time there was a creek behind my house in Campbell River where we could catch a breakfast of dolly varden trout in half an hour. Having a soft spot for DV, I didn’t see it mentioned here. Any comment on DV?
Absolutely. Dolly Varden was on this list of Silver Explorers/Developers above. It was 16th on the list.
DV.V Dolly Varden Silver Corporation +8.70%
I’m a big fan of DV and have been trading around my position in it since 2016 and really like the new team with Shawn Khunkhun at the helm since last year.
Cory did a great interview with Shawn here on the KER recently if you didn’t catch it:
One that is missing from this list of Silver explorers & developers is Silver Sands. They had good news out today, but for some reason I missed them on this list, which is odd because I have a small tracking position in them in my portfolio. Regardless, here was their news today. They closed up 19% on the day.
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(SAND) ($SSRSF) Silver Sands Resources Phase II Drilling Discovers New High-Grade Zone at Ely Central at the Virginia Silver Project
May 17, 2021
Drilling at Ely Central identified an emerging 200m open-ended strike length with intersections including:
EC-DDH-003: 9.98m at 560 g/t Ag, Including 2.87m at 1,578 g/t Ag
EC-DDH-004: 9.60m at 639 g/t Ag
EC-DDH-005: 10.80m at 625 g/t Ag, Including 5.70m at 1,110 g/t Ag
Silver futures up to $28.62 in overseas trading. May has turned out to be a stellar month for the PMs, on the heels of what was a very constructive uptrend in the PMs throughout April.
The real question to consider is if Silver has the juice to get up past that $29-$30 resistance area this time, or is it going to get swatted back down again?
Don’t know how I missed that piece on DV, thank you.
Great points from a contributor over at ceo.ca with the handle @Highheat, about about how much value still remains in the tiny niche resource sector for when the larger generalist money decides to finally enter in a more serious way.
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@Highheat – “What’s amazing to me here after the best day of my life is how much value remains in $Gold $Silver miners & exploration companies, if you know where to look. Nobody understand yet how narrow the doorway is in nano-cap $Gold stocks where any institutional participation moons them.”
as Matthew pointed out at the bottom of the weekend blog, it really is amazing how quiet it has been on the KER boards recently, considering how well the miners have been running. My portfolio hit another all time high again today, and I have to believe that some other investors here also made out like bandits with today’s action in the mining stocks. What is it going to take to switch the investor sentiment from negative to a bit more positive?
Here is a follow up comment from another ceo.ca contributor with the handle @kerfuffle.
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@kerfuffle – “Exactly right, @Highheat. In 2016, the #GDX went up almost 3 times in a few months and almost nobody noticed. This run up is different. It is going to get attention, especially with cryptos going down. I think this is going to be a great run and it is only just starting.”
“Today was my biggest up day in many many years.”
Anyone else here invested in junior mining stocks and did you see a nice appreciation in your portfolio today?
Does anyone else here believe that the Producers can make money with Gold at $1867 or Silver at $28.37?
Does anyone else here believe that the projects that Developers hold are properly reflecting their value at the current metals prices just listed?
Nothing exciting in my portfolio. It pretty well followed the paper action in that during the morning hours it worked itself up to be capped before noon. It then maintained the same level until the last 5 minutes, then 25% gains removed. Worst performers of the day were Group Ten which has been moving back for a couple of weeks and Emerita which had a good day Friday when it went from negative all day to a big finish into close and after hours. So although both days were positive, Friday better. So nothing special, but green. Overall, hood gains since April 1, but mostly alternating days in sn up trend overall. Can’t complain.
Thanks for sharing how things are going in your portfolio David.
Yeah, Group Ten is my most heavily-weighted Palladium/Platinum/Nickel position, so the selling pressure over the last week or so, has been a bummer, but I’m still way up in the money on it, and have little doubt it is going much higher in time (especially after they start putting out some of their drill holes from this years exploration program later in the summer).
I was only in Emerita for a quick swing trade (in on April 28th and out on May 6th), based on Doc Jones reports, but it ran up so quickly that I decided to pull profits on it and wait for a pullback. It’s still trading above where I sold it, but if it comes back down some more, then I’ll likely jump back in.
It is good that your account was in the green today, as I would suspect most investors with PM mining stocks were in the green today, but a few folks reported having their best day ever. I didn’t have my best day ever on a percentage basis, but the portfolio did close at it’s highest water mark ever, so that is always a nice thing to see.
It just seemed like there would be a bit more celebrating today from mining stock investors, but maybe it is a good thing that this sector is still so ignored and unloved, as it means there is still plenty of time before it gets anywhere near as frothy as some of the other sectors have been over the last year or so.
People are simply not interested, cryptos is where it at.
Tech stocks, pot has alot of peoples interest.
I wonder about it, 2011? when PMs shot up I made oodels of cash, this time, there are more options than there waas last time.
Also, there was alot of screaming about the metals being manipulated, keiser and his $500 if you want it, people see that stuff.
Well, Bitcoin just sold off from $64,899 on April 13th down to $44,398 today, so I wonder how long moves like that will keep their interest?
Coinbase Global, Inc. (COIN) the largest crypto trading platform, IPO’d on April 14th at $409.62, and closed today at $248.24, so maybe that is what is keeping folks excited. (?)
The pot stocks have gone to pot, as most are down considerably since getting high in Februrary. For example, the Global X Cannabis ETF (POTX) was at $28.70 on Feb 10th, and closed today at $12.75.
Maybe some of the hot speculative money will eventually find it’s way over to the beleaguered mining sector?
Here is a look at how the Crypto prices fared today to kick off the week.
Good points EX, bitcoin is known to be volatile so lets hope it drops to zero 😉
unless you own it of course,
I forgot about pot stocks going to pot.
Im sure your right.
I don’t own any crypto at the present, but did hold the Grayscale Bitcoin Trust (GBTC) from last fall to mid January and caught a lot of that upside, making almost a triple in that position. Then I rotated in to and out of a handful of the crypto miners in from late Jan to April (Cypherpunk Holdings, Argo Blockchain, Hive Blockchain, Hut 8 Mining) and considered Riot and Voyager but never pulled the trigger on them. With the recent crypto crash, I’m considering jumping back in some of the crypto miners again to play for a bounce, but want to see how ugly the sell off gets (although it’s already pretty ugly at this point).
As for the pot stocks going to pot since their February peaks, that has taken some of the hot air out of that sector, and unfortunately for me, I was in a few stocks and ETFs that have sold off. I was doing good swing trading the ETFs (MJ) and (POTX) but got too cute with it and now am a bit underwater in both. I’ll likely average down in those. I also got trapped in few individual stocks like IM Cannabis, Fiore Cannabis, but did pretty good on Delta 9 Cannabis. I’ve been wanting to get a position going in Planet 13 holdings (and literally drove by their base of operations in Nevada last week), so in a way, this recent slump is creating a good opportunity to make acquisitions in the pot sector.
Another sector that was really hot the end of last year to early this year was the “Clean Energy” space, and now that those have started to pull back in a substantive way, I’m starting to scale into them for the first time in years. I’ve started by just buying the ETF (TAN) for the solar stocks, and will likely add the wind power ETF (FAN) in the near future.
Dr Copper continued to look strong today, currently at $4.73 and hovering at all-time highs.
Some of the Copper stocks I follow were rather peppy today as well.
(WRN) Western Copper and Gold up 26.22%
(JOSE) Josemaria Resources Inc. up 24.05%
(FIL) Filo Mining Corp. up 24.04%
And kodiak is up 40% over the last 2 weeks
+40 Good point Wolfster. I have a position in Kodiak and that move higher didn’t hurt the portfolio either 😉
I see that this strategic position from Rio Tinto into Western Copper and Gold likely helped the cause today. Doc Postma – If you see this you gotta be smiling like I am 🙂
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Rio Tinto takes strategic stake in Western Copper and Gold
Northern Miner Staff | May 17, 2021
Rio Tinto Canada is investing C$25.6 million for an 8% stake in Western Copper and Gold (WRN), which is advancing its copper-gold Casino project in the Yukon. The funds will be put towards economic studies and permitting.
“We’ve always said advancing this project with a big copper or gold company made sense and now we’ve got that with Rio Tinto,” Paul West-Sells, Western Copper and Gold’s president and CEO, says in an interview, adding that “confidentiality agreements were signed about 18 months ago.”
https://www.mining.com/rio-tinto-takes-strategic-stake-in-western-copper-and-gold/
Trevor Hall – Mining Stock Daily @TrevAHall
“I connected with Paul West-Sell, CEO of $WRN Western Copper & Gold earlier today to get comments on the news of @RioTinto coming in as a strategic investor into the company and the Casino Mining project.”
Interview Here:
Politics Are Turning Against Copper Mining In Top Producer Chile
Bloomberg News | May 17, 2021
“Chilean copper mining is facing its biggest regulatory threat since the industry took off more than three decades ago.”
“Triggered by the worst social unrest in a generation, Chile just elected an assembly that places the writing of a new constitution largely in the hands of the left wing, with the ruling coalition falling well short of the numbers needed to exercise veto powers. After the weekend vote, the nation’s stocks, bonds and currency tumbled, while copper futures rose.”
https://www.mining.com/web/politics-are-turning-against-copper-mining-in-top-producer-chile/
Peru Leftist Copies Chile’s Proposal For Tax On Copper Boom
Bloomberg News | May 17, 2021
“A proposal to tax Chilean copper sales at rates of as high as 75% is reverberating all the way to Peru, where the leading presidential candidate wants to impose a similar measure.”
“Pedro Castillo, who has vowed to nationalize a major gas field and capture more mineral profits to fund social spending, just added a tax on copper sales to his platform in a document he shared on Twitter late Sunday.”
https://www.mining.com/web/peru-leftist-copies-chiles-proposal-for-tax-on-copper-boom/
Copper Price Rally Resumes on Chile Supply Disruption Concerns
Minging.com Staff Writer | May 17, 2021
“Copper price was up again on Monday, lifted by concerns of supply disruptions in Chile and signs that Chinese demand is picking up.”
“Copper for delivery in July was up 1.15% Monday afternoon, with futures trading at $4.7065 per pound ($10,354 a tonne) on the Comex market in New York.”
“Workers at BHP’s Escondida and Spence mines rejected BHP’s final wage offer on Friday, with almost 97% of the union’s members opting to strike, sparking supply disruption concerns.”
https://www.mining.com/copper-price-rally-resumes-on-concerns-of-supply-disruptions-in-chile/
pgm and gbr the darlings last year, stuck in the mud??? would appreciate some comments on the big lag with these. Same with rare earth stocks, took quite a hit such as UCU and REEMF among others. Excelsior and Matthew any perspective.
Hi Sylijon. I have positions in PGM, GBR, and UCU and like them all.
With PGM Pure Gold, they had start up issues at the mill, which have been resolved now, but the market has punished them until they show that their increase in the mining throughput from 800 tpd to 1000 tpd, and the headgrade coming through is more in alignment with their forecasted metrics from their economic studies. I had trimmed back my Pure Gold position by 2/3 in mid-December, before first gold pour, anticipating that the end of the “Golden Runway” was near, and that it would sell-down going into initial production like most new producers commissioning a new mine (just like Harte, Northern Vertex, and Novo did, or like Americas Gold & Silver did when commissioning Relief Canyon, or like McEwen has on ever new mine they’ve tried to bring online).
At this point, Pure Gold looks quite attractive to me at current prices, and I just added to my position for the first time on April 19th, and plan on adding more over time. All their high grade gold in Red Lake is still in the ground, there is a ton of exploration upside around their mine, and most importantly, they are starting to hit some really eye-popping high grade gold at depth in their “8 Zone”, which is very reminiscent of what Goldcorp found at depth when they took the Red Lake Mine from good to great in the last cycle. If Pure Gold can keeping hitting that grade at depth, then they could really take things to the next level in valuation.
Sticking with Red Lake…. Great Bear (GBR) just continues to deliver with amazing drill result after amazing drill result, and they are like the new Silvercrest (SILV), but in the Gold exploration sector, instead of in the Silver sector.
I’ve noticed that even though both companies Great Bear and Silvercrest continue to hit over and over again, that the market is not rewarding them for bonanza grade intercepts like they would a new greenfields drill play. Maybe it is investor fatigue, or maybe some folks feel they are properly valued at current levels. Both have world-class desposits in the making, but Great Bear is at a disadvantage/advantage in that it doesn’t have a defined resource estimate out or the economics. As a result the valuation in GBR got waaaaaay ahead of itself initially based on no resource/no economics, but as they’ve continue to drill close to 300 holes now, then the valuation has flat-lined and caught up to itself, so to speak.
At this point, the market is not going to push the valuation beyond the current $830 Million – 1 Billion market cap range, until they see some specific metrics around the resource size, the average grade, and most importantly the project economics. If those come in too low, then it will sell off and disappoint investors, but if that resource estimate comes in where folks expect in the millions of ounces (many have a target of 5-7 million ounces thus far) or above that, then the stock will likely go on a tear higher. Since last summer, and really the better part of a year, Great Bear has been “stuck in the mud” as you mentioned, but that is far better than the selloff of 30-60% that many gold juniors saw since last summer. I’ve been wanting to add to my position, but have been frustrated by how resilient the stock has been. Haha!
As for Ucore Rare Metals (UCU), I too have been disappointed at the big hit downwards in their shareprice, and to some degree this has been symptomatic of most of the REE stocks, but I’m surprised how hard UCU has taken it in the shorts. They are making progress with their downstream processing and metals separation side of the business and this really makes them stand out above most of the pack of rare earths companies for this reason, but you wouldn’t know it by the share price action. In addition to all their work on downstream processing, they are also moving forward with the exploration and development of their Bokan Mountain project in Alaska. There is a lot to like, but I’m probably going to need to average down in the shares again, to get the kind of upside appreciation I anticipate from the stock once it starts to move again.
I know of REEMF from the last Rare Earths cycle, but never owned it, and don’t follow it closely enough to have any useful thoughts on it.
Speaking of Ucore, they just had a market update last week, that I had missed while traveling abroad, but it goes over the highlights of their recent milestones and projected work guidance moving foward.
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(UCU) (UURAF) Ucore Chairman & CEO Provides Strategic Update to Shareholders: Taking Action Today to Secure Tomorrow
12 May 2021
https://ceo.ca/@newsfile/ucore-chairman-ceo-provides-strategic-update-to-shareholders
Couldn’t say I didn’t see this day coming. Still positioned in lots of Jr’s that are scraping bottom
I took my final profits from GBR during April, but maintained the share level by rotating some sales through it. It has been negative but almost got even today showing some activity. I sold my Pure Gold as I had wanted to move it to something moving positive. I had made good profits. My best performer has been Vizsla that was red to 80% green over the last month. Other good performers have been Eloro, Sun Summit and Silver Tiger. Silver Viper had been one of my best performers in 2020 and I took some profits. It has not been good in 2021 but the last week has been a turn around. Most of my other silver stocks have been in the rotation pattern and so-so. Also doing ok is Calibre, Telson and Trevali. Novo, Lion One, Ely, Minera Alamos, Metallic, Blackrock, Wallbridge, Prcipitate, Bitterroot, Banyan, Sokoman, Newrange, Nulegacy… not much help. Some help have been Discovery, Vangold, Maritime, Summa, Bluestone,Azarga, …some help. I am looking forward to more group activity in concert with each other..,
That is a really solid list of companies David, but I’m biased and hold a number of those as well. Over time, I’m sure you’ll have some nice leverage to rising prices with that group of companies.
Yeah, Vizsla and Silver Tiger have been performing great in the Silver sector for the last year+, and rightly so, as both of them have been hitting some of the best regular high-grade Silver intercepts of any of the other explorers. Both believe they are the next Silvercrest, and both have the potential to have a similar world class districts on their hands down in Mexico. Eloro has been killing it as well with amazing drill results down in Bolivia. I got it a bit later to the party on that one, but will be looking for any weakness to scale into in a more meaningful way.
David – You may like reading this article over as it features a few companies you mentioned in your portfolio:
Canadian Gold Snapshot: Eight juniors seeking more yellow metal
Marilyn Scales – The Northern Miner | May 17, 2021
Artemis Gold
Mistango River Resources
Pure Gold Mining
QuestEx Gold & Copper
Sokoman Minerals
Tudor Gold
Victoria Gold
Wallbridge Mining
https://www.mining.com/canadian-gold-snapshot-eight-juniors-seeking-more-yellow-metal/
Personally, I only hold 2 of those directly: Pure Gold & Wallbridge Mining.
However, indirectly I have exposure to Mistango River Resources by way of their connected company Orefinders, and based on Coeur Mining’s new interest in Victoria Gold, I’ve become more keenly focused on what they are doing.
Last year Sokoman made it into my portfolio twice, but I sold out of it, and now it has really started to move with the rest of the Newfoundland area play stocks.
I’m still blown away at how much Wallbridge has pulled back when they have one of the better undeveloped gold projects on the markets, and an insane amount of land surrounding the Detour Lake gold mine and camp that Kirkland Lake acquired last year.
I have had Wallbridge for years and in greater share #s. Today I decided enough is enough and sold it and bought Reyna back today. I also added to Emerita. My first buys were sub 30 cents, so I sold those and kept a out 75%. That was a week or two ago. Then today I took some Vizsla profits and bought back Emerita on the drop back today. I have around a 20% gain on the shares at EOD that I still have. I have been building Eloro shares also and have cut back Group Ten to about 50% of what I had. All shares of Group Ten, Eloro, Vizsla and Emerita are green at the moment even though I have been messing with all of them.
So you threw in the towel on Wallbridge eh? Understandable as it has been frustrating how beaten down it’s become, but I have too much conviction in it to sell out of it completely, but did finally accumulate all I want in it for the foreseeable future. So you bought back Reyna with it. I like the prospectivity of Reyna and have a small position in it, but it hasn’t done much either until recently, and has sold off almost a long and as much as Wallbridge. Reyna is more drill dependent as an earlier stage explorer, but having Peter Megaw involved as a technical advisor is a big plus. Really these are all good companies you mentioned – Vizsla, Group Ten, Eloro, Emerita, Wallbridge, Reyna, etc… They all could have catalysts that send them surging as the commodity bull market proceeds, so I’m glad to have exposure to these kinds of companies. I’m currently not in Emerita though, so I’ll be watching for a doorway back in. Good thoughts David, and may your trading be prosperous.
@Goldfinger (aka @CEOTechnician) on Twitter:
“#Gold miners up 5%-10% across the board today as gold breaks the downtrend drawn from August ATH with its first close above the 200-day SMA since January. Lots of trend followers covering shorts and flipping long this week.”
https://twitter.com/CEOTechnician/status/1394407161187405824
Appreciate the feedback Ex.
You show in your response that the fundamentals do count in the final analysis for pgm and gbr. Technicals only so far.
Thanks sylijon. Yes, both the fundamentals and technicals are important to consider.
Technicals show oversold/overbought conditions, potentials turns, and the momentum and strength of a trend in price action, and are incredibly useful, but longer term the fundamentals will raise up or crush down a company.
I believe both PGM and GBR are quality companies with good teams and great projects, and longer term they’ll be good vehicles to hold in the PM space, and they already were fantastic vehicles to hold in the space over the last 2 years, they are just taking a pause that refreshes. Honestly, in 18-24 months, I expect that both of them may be acquired by the big boys.
75% retracement of opening gains. Despite news from Group Ten, barely moved at open. Emerita hit at open second day in row. Vizsla my best performer. Multi metal miners seem constrained in scheme of things. Picked up some Silver Sands based on drill results. However, tried for two days to open their site and could not do it. Did not get much from the ceo.ca site other than Sprott has some shares and warrants. I was trying to determine share structure and managed money interest. May be a short term hold. Starter pisition just in case it turns out to have some merit. SSRSF….
One hour and a half after open, all opening gains wiped out. Worst of day: Emerita, Eloro, Great Bear, Ely, Banyan, Novo, Azarga, Southern Silver, Kootenay …Really
Best of Day: Group Ten, Granite Creek, Vangold, Blackrock, Bitterroot, Trevali, Sun Summit, Summa, Vizsla…
Almost reverse if yesterday. So maybe sonething fifferent will happen sometime….
Bought some Emerita under .50 as long as this sale is going on. Keep it going lower and I will buy some more.
long KIRK
Think someone forgot to post the tape of John/Cory