Goldtent TA Paradise
this must be one of the top 10 bear markets in history. 90% off the highs back in 2011. its still trying to find a base.
what I am looking for is a break and weekly close above that DT rail. Until then stay clear.
Until then its just flopping around in the latter stage of a Weinstein stage 4 bear market.
One day, the Uranium sector will be flying, but its a little early.
In comparison, the Coal mining sector has turned the corner, and now powering ahead. I am long KOL.
Note the recent divergence between the two since the start of this year.
Seems to have been delisted ?
Not getting any quotes on the Explorer ETF
Somebody please research this
Now I am moving gradually down the value chain, where much better returns are now on sale (compared to the bloated large caps in the ETFs …sorry to have to say that about Barrick, Goldcorp, etc). Here is an example of a microcap, enterprise value around $US 6 million, of which $US1 million is in cash, no debt.
They recently acquired a gold asset in Burkina Faso, just up the road from where Roxgold is mining, and along strike from the giant Bissa mine, operated by Nordgold. The property had been previously drilled by Roxgold, with some high grade high width hits from surface, but when Roxgold discovered their current mine, they let the concession lapse. Nexus Gold Corp. (TSXV: NXS.V, OTCMKT: NXXGF) picked up the concession a couple of months ago, and are now planning an aggressive drill program, starting after the wet season next month. Some of the holes will be twinned to confirm the Roxgold results, so the grades and widths should be good. Step out drilling is also planned.
Nexus also have a Nevada property, which is drill ready. So fundamentally its a good story. here is the daily chart showing what is potentially possible, once their drilling program gets underway. This is an example of moving down the value chain in a bull market, seeking the best bang for the buck.
The 9 day EMA is at $CAD 0.085 or $USD 0.065, which is an ideal place to enter. The 30 week EMA is rising, so this is a Weinstein Stage 2 bull market in this stock. These rocks are volatile but if one can hang on, it often pays back in spades, in a bull market.
From Spock and Members
We’re buying down the value chain. NMI and MUX were and are probably great companies, but they’re on the open seas now (in the ETFs) and their stock is subject to additional forces beyond their control. The way I see it, we’re buying minnows and holding them until they’re big enough to swim in the ocean. That’s the best growth profile, even if it’s not nearly as fast and predictable as the growth of fish.
…and once they get big enough to start swimming in the ocean the sharks come after them. I think this is sensible way to remove a little more risk from the portfolio.
The bankruptcy of a major player, often confirms the bottom is in. We had that a couple of weeks ago with Hanjin Shipping Lines of South Korea, a global top 10 shipping carrier, who filed for receivership.
The $BDI has been posted here earlier, but what is most interesting, are the two bear fear trap lows. The first was followed by a massive reversal. Are we about to see the same scenario. Quite possibly.
There is a potential Wolfe Wave too, showing a target north of 4000. Inflation is coming. With that market interest rates will rise, despite the central banks, who are always way behind the curve, and will forced to cover.
This is good for metals and commodities across the board, especially gold and silver, given the amount of QE sloshing around the planet. Emerging markets and commodities producing countries will benefit.
Ignore what the central banks are doing. watch the $BDI. Its more reliable indicator of market forces.
Markets rule. Not central banks. Not the media. Not the opinions.
I am still somewhat cautious here but the move in the USD and the PM Complex makes me wonder if the 5-6 month Intermediate Cycle Low is not over a bit early here similar to the 2009 Fractal (see 2nd chart in attached link). Seems the USD was rejected at the 200ma when the Fed failed to raise rates as expected. Perhaps we will get Norvast’s shortened Gold ICL after all (similar to his 2009 Echo year)?
I just don’t see what will turn the USD back up here. More “jawboning” by Fed members? The market fell for that last time but I can’t believe it would continue to work as they have zero credibility as it seems to be that all they can do is talk about raising rates. My Gold chart shows price would need to move above 1350 to confirm a new Intermediate Cycle.
Miners and Silver charts are also bullish with GDX breaking my IC Downtrend line.