Joel Elconin – Market Rebound And Commodities Take Off
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.
Thanks DT. Yes, I think the exploration work that Goliath is doing is impressive indeed!
https://www.tradingview.com/x/M2GFm74t/
SILVER : Now at Two-Line Resistance.
Uptrend Bear Flag and 78.6%.
Retracement Possible.
https://www.tradingview.com/x/XCdhQ48E/
SILVER : Adjusted for Resistance.
Shad- I read on ceo.ca site that SVM was going to be added to GDX? Is this true?
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…
$2583……….. GOLD>……. who would have thought…. lol…………. 🙂
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.
Ditto …..” focusing on Purchase power of the dollar”…….
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
Since the tops of 2005 and 2008 oil is down over 80% versus gold. Gold was worth 6 barrels of oil at those peaks. Today it is worth 38 barrels. That means oil would be way over $400 per barrel today if it returned to those highs. Luckily that won’t be happening anytime soon if ever but oil IS historically very cheap at the moment.
https://stockcharts.com/h-sc/ui?s=%24WTIC%3A%24GOLD&p=W&yr=5&mn=0&dy=0&id=p72680030302&a=1779840374
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