Like I said yesterday, the street’s numbers are too low. Example Richmont this morning.

The street was at 37 mln in revenue.  Richmont announced 52 mln CAD in revenue.  That’s 41 mln USD.  Thats a 10% plus beat on the topline.  And just look at these cost numbers… they are just out of this world low.  These numbers are just ridiculous.  Look forward to this type of report happening from others over the next couple of quarters.

 

“Cash costs for the quarter at Island Gold were $674 per ounce (US$491 per ounce), a 52% decrease over the prior year period and a 34% decrease over the prior quarter. Company-wide cash costs for the quarter were $806 per ounce (US$587 per ounce), a decrease of 18% over the prior year period and a 22% decrease over the prior quarter.
First quarter revenues were a record $52.6 million at an average realized gold price of $1,629 per ounce (US$1,186 per ounce).”

 

https://goldtadise.com/?p=366569

Follow up on Silver – We have BO

Follow up here on my previous post on gold and silver´s bottoming process:
https://goldtadise.com/?p=365491

We now have a BO on silver when measured in USDU, the more balanced USD index. As Rambus have taught us, a BO is visible earlier on a line chart.
silver BO soon2SILVER USDU BO

This should give us another nice move in silver very soon it looks like. And as I have talked about, I see silver going up by forming several inverse h&s´ the first years or so.

Seems like silver will finally join the party. I honestly thought it would wait a bit more but it does not look like that is likely. And that is probably the reason why SILJ et al are going wild.

Two Potential Non-PM Trades

Hope all of you are fully invested in the PM rally and are out of risk capital to deploy into other trades.  If so, you can skip this post.  For those of you that believe diversification is a good thing, please read on.

Below are two potential trades that I am currently stalking.  Both stocks have seen 70% declines from their two year high and both are snaking along in a triangle/flag pattern.  If they break to the upside, they should continue on for a decent size trade.  However, they could also be 4th wave triangles (in Elliottwave terminology) of undetermined degree.  If that is the case, any upside breakout will be quickly reversed and the stocks will fall to new lows to complete the final impulse wave down (at which time they will be an even better opportunity, right?).  Odds on an upside continuation?  Heck if I know!

So how do I plan on trading this?  I will go long on a daily close above the upper trend line and place a hard stop below the lower trend line.  As a trader, I will leave the profit objective open for now, but cut my loss quickly should the trade go against me.

Lastly, trade at your own risk, for educational purposes only, blah, blah, blah….

MU chart

TWTR chart

SILJ ( Junior Silver Miners ETF)

FREAKED OUT TODAY…NOTHING BUT AIR ABOVE

LOOK AT THE VOLUME

silj

Reload time

The 1week just crossed the 6 week, and the 155 week, and lit up a green. Boy this place is sure  looking good with that new log in picture. Thanks to all!!!

AUDIRNA

Geeze Louise

Gold price closing into STRENGTH

Awesome day.

Chilling out in sunny Florida with an ice cold margarita, anticipating more to come. Not without pullbacks, of course…but more to come.

SPX Another Reversal Day in Stock Markets

spx 4-11

A break below the dotted and solid line for confirmation.

Two reversal days in a row = bad sign.

Gold Commitment of Traders

Trader Dan’s World

https://traderdan.com/?p=10628

Wow ..Check out the new log in page….. members

Log Out then back in

Audept …always busy ..never seen

HUI

Hitting new highs of the day this afternoon.

SIT !

sit

https://spockm.com/2016/04/11/reminder-sit-tight/

Rambus

HUI Goldbugs Index : Some Perfect Chartology:

http://rambus1.com/2016/04/11/hui-update-264/

HUI Weekly

Perhaps a rest here abouts ?
I wouldn’t naked Short it However

hui

AUE.T

Below is the London listing chart. The volume on Toronto is a little less than the London listing.

This is an institutional gold miner stock, with few retailers on the register. For that reason when the retail herd pick up on it, it should run hard.

The name of the game now is to find stocks like this, which are currently off radar, get a position and be patient. Its just a matter of time and it looks close now.

AUE

GLD

gld 4-11

GLD breaks back into the uptrend channel.

All the 4 Horseman on uptrend mode as of today.

RSI breaks above the downtrend line.

Next target the top of the uptrend channel then we will see.

Somebody yell “Fire”

Originally published 2-5-2016:
sc (1)

and somebody apparently “started one”!
sc (1)

One for the Bears

Missed lots of this upmove by trying to get cute with entries and exits. Might be some resistance here though. Gold and silver look like H&S shoulders completing today. Or not 🙂
image

GLD:SLV Ratio

sc

Another piece of confirmation?

TGD

tgd weekly 4-11

tgd daily 4-11

Breakout on the Daily Chart.

All the Horseman Pointing Up.

A nice H&S Bottom on the weekly.

Target 0.50

Couple of bigger movers today

EDR.to endeavour silver

CRJ.to claude resources

Is this a bull market or is this a bull market. Tip: don’t ask Socrates. :)

And the good news just keeps a comin’

High-grade gold fight: Enter Integra

Integra Gold (ICG-V) has stepped into the Eastmain Resources (ER-T)-Columbus Gold (CGT-T) fray with an opportunistic $6-million financing contingent on Eastmain leadership changes — including a new interim CEO.

The deal comes a week and a half after Columbus came after Eastmain with its own board slate. Columbus CEO Robert Giustra says Eastmain’s Don Robinson has failed to unlock value at the flagship Eau Claire project in James Bay, Quebec — and the company’s other projects — despite 20 years of exploration work.

Columbus owns 2,675,000 Eastmain shares, a roughly 2% stake (pre-financing).

The agreement with Integra would see engineer Claude Lemasson — who has extensive Quebec experience with Goldcorp — step in as interim CEO.

Integra’s plan foresees keeping three Eastmain directors — Lemasson, Laurie Curtis and Michael Hoffman — and adding four more: Integra CEO Stephen de Jong, Integra chairman George Salamis, Blair Schultz and Timo Jauristo (ex-Goldcorp).

Integra will also have the right to nominate a director and participate in future financings, provided it maintains a 5% shareholding in Eastmain.

Eastmain announced an additional private placement of 50-cent flow-through shares and 35-cent units, taking the total raised to $11.13 million. The money will go to advancing Eau Claire, according to Eastmain’s NR, and the CEO change was part of a “previously planned” succession plan. Lemasson has been an Eastmain director since November.

The Eastmain-Integra defence gives Integra an important toehold in Eastmain, not to mention skin in the game. It addresses one of Columbus’s complaints about Eastmain — Don Robinson’s leadership — but not Giustra’s beef that the company is neglecting its other projects, including Eleonore South. The latter project is a JV with Goldcorp and Azimut, but Eastmain is operator.

The Eleonore South project is adjacent to Goldcorp’s Eleonore mine (acquired from Andre Gaumond’s Virginia Mines) and has seen no drilling since 2010. Recent discoveries in the area — including 12.08 g/t Au over 20.3 metres by Sirios Resources — have generated a buzz. So the Goldcorp background of those taking centre stage at Eastmain is interesting.

Eastmain shares rose about 8.7%, to 50 cents, in early trading this morning. The company has 134 million shares out for a market cap of roughly $71 million.

It’s a bit of a silver lining for Robinson, who seems to be finished as Eastmain CEO regardless of the outcome of the proxy fight. He owns a 2%-plus stake in the company and purchased 100,000 shares at 35 cents on March 14.

SPX Channel remains intact…

SPX

This Biggest Loosers

During the PM bear are now leading the Pack Higher

HMY

k

yri

GDXJ Riding Top of BBand as Support

Doesn’t get any more bullish than that. Not much resistance up to $46 area from here. I cant imagine being short here, especially while reciting the mantra “commercials are always right”.

GDXJ

I’ve been combing the street’s numbers on Q1 and especially Q2…

These numbers are going to have to go way up or the majors and mid-tiers are going to blow the doors off of things.  The massive write-downs are OVER (except for maybe Goldcorp and their various disasters) and the street is low on Q1 and from my numbers, they are looking at Q2 as if gold is trading sub 1100 as an average price for the quarter.  The average price of gold for Q1 was 1179 USD and the majors and mid-tiers are still lowering costs.  What happens if the price of gold averages 1250+ in Q2?  These margins are absolutely huge.  Gold doesn’t even need to go higher for a name like Newmont to go to 40.  We could potentially see a name like Agnico up 5-10 on an earnings report… especially on a production beat.  Things could really start to get unhinged as these earnings reports come out and more eyes actually see what is happening in the earnings releases.

SILVER/GOLD RATIO BLOWOUT

Marti Army chasing a fart in the wind? Where was the supposed blowout at the 76 and 2000 gold bottoms??? The opposite happened. We have a positive divergence with the RSI too. It didn’t happen at what are considered the 2 most bullish rallies in history and we should wait for this B4 buying? I won’t hold my breath. Further, thats a 25 year old trend line we touched recently on the weekly. Isn’t the rising trend line positive divergence in silvers favor? Am I missing something? Looks to me like we’ve had the correction for this ratio, slowly, painfully, by steamroller and taffy puller.

http://stockcharts.com/h-sc/ui?s=%24SILVER%3A%24GOLD&p=W&st=1971-03-14&en=2016-03-25&id=p15549386479&a=453013165

Silver Bottom Watch

SILVER

16 would be Nice

Commercials vs Large Specs War

Please look at who wins for last 4 years. Before 2011 algos for naked short selling was not working as good as it is now. The reason gold is rising is due to usd/yet crashing and BOJ not intervening.
Maybe BOJ declared currency war (jim rickards book ) on u.s fed and is having currency war with u.s fed. This would be odd and probably would unleash black swan event somewhere. Japan needs weak yen for their exports as they export cars, electronics etc and their economy would crash if YEN is allowed to rise against USD. That is why i doubt that. THEY WILL INTERVENE but why they’re not doing it yet i don’t know. Very odd. Once they do usd/yen will bottom and gold will top. Perhaps that is why you see commercials having highest short position in gold in few years. Commercials are banking cartels that have inside info from fed. Yes they are smart money for that reason alone, having inside information that they can trade on.

https://www.tradingview.com/chart/GC1!/M1kUi1jK-Gold-s-COT-remain-in-bearish-mode/

Here is interesting article saying 8 years cycle is still ahead of gold and silver

http://news.gold-eagle.com/article/500-silver-possible/155

madmax

Madmax : Re Smart Money : Dumb Money

OK…I have a pet peeve

I hear this all the time from COTs readers

The Commercials are the Smart money and they ALWAYS win

The Hedge Funds (Speculators) are the Dumb money and they ALWAYS Lose

This is not right …it is pure bunk as a matter of fact

When the price of Gold is rising almost invariably the Open Interest on the Comex is rising

It is the Specs (who are ALWAYS net Long) who drive the open interest

Specs BUY…who do they buy from…someone has to sell…Commercials Sell…that’s why they are commercials

( Miners / Bullion Banks etc…that’s what they do…they sell gold)

Specs buy and get longer and open interest rises and the price rises

Eventually the price stops going up and Spec start to liquidate and the price and open interest drop as the commercial buy back their shorts and positions are closed

The Specs drive the market by sheer numbers

OI peaked in 2011 and was dropping on balance thru the bear…now it is picking up

IF it were true the commercials always win and Hedge funds always lose because they are Dumb…There wouldn’t be any more hedge funds

There is NO market if one group always wins…it just aint so …..here is a chart produced by Schism at the Chartology Forum

COTGOLD

LOOK how the Commercials got crushed all thru the parabolic run up in 2010 2011

They had huge sorts all the way up !

The Longs (Specs)…. won heavily !

Now you say since 2011 the Commercials have been on the right side all the time…not so sure but even if so

IF this is a Bull market the rules have changed back and favor the Specs

Truth is The Commercials don’t always loose either …because they hedge their shorts by being long in other markets ( and some of them are producers who have the gold to sell)

My point is …its NOT as simple as Commercials always win !!