September « 2019 « BullMarketRun.com

7 @ 7:00

Visit the BMR comments section throughout the day for updates and helpful information!

1. Gold has traded between $1,486 and $1,508 so far today…as of 7:00 am Pacific, bullion has retreated $15 an ounce to $1,489…the sharp move higher in Gold since June could be just the start as other investment sectors, largely absent during the summer, finally jump into the market, according to respected market strategist Joni Teves at UBS…“Participation so far has largely been limited to institutional investors and the official sector. As Gold gains further upward momentum, we think other areas in the market can become more active and support the next leg higher,” she said…not only will investment demand remain strong throughout the next 2 years, Teves said that she expects physical demand to eventually pick up as consumers adjust to higher prices…meanwhile, there have been heavy ETF flows into Gold in the past few days which shows that investors are buying on dips…Silver has fallen 33 cents to $17.33 but has exceptional support around the $17 level…Nickel, Copper and Zinc are all up slightly at $7.90, $2.60 and $1.06, while Cobalt is steady at $17.01…Cobalt prices have climbed more than 40% since their lows in July…Crude Oil, off 83 cents at $55.83, came under further pressure this morning after Iranian President Hassan Rouhani claimed the U.S. offered to remove all sanctions on Iran in exchange for negotiations…how investors could believe such nonsense from the rogue Iranian regime is very difficult to fathom…U.S. officials vehemently denied the claims…the Dollar Index, up slightly at 99.16, has strengthened to its highest level against the euro in more than 2 years…a first in the United States – a gas station in Takoma Park, Maryland, has been completely transitioned from a petroleum station to exclusively charging EVs…it opened yesterday..

2. U.S. consumer spending slowed more than expected in August, signaling a key pillar of the economy could be losing momentum as the global economy wobbles and trade tensions remain high…personal-consumption expenditures, or household spending, nudged up a seasonally adjusted 0.1% in August from July, the Commerce Department reported this morning…the modest growth marked a sharp pullback from July, when spending rose 0.5%, and was the weakest performance since February…consumer spending is the driving force behind the U.S. economy, accounting for more than two-thirds of total economic output…with other sectors of the economy, such as manufacturing and business investment, buffeted by external headwinds, the slowdown in spending could affect 3rd quarter GDP…this, of course, would give the Fed more incentive to lower interest rates…meanwhile, new orders for key U.S.-made capital goods unexpectedly fell in August and shipments rebounded moderately, pointing to continued sluggishness in business investment after it declined at its steepest pace in 3-and-a-half years in the 2nd quarter…key economic data next week (Tuesday) will include the Institute for Supply Management’s (ISM) purchasing managers index (PMI) for September…its August report showed the manufacturing sector, which accounts for about 12% of the U.S. economy, contracting for the first time in 3-1/2 years with the export component hitting more than a 10-year low…

3. Trade talks between the U.S. and China are set to resume Oct. 10–11 in Washington, D.C., according to media reports this morning…the U.S. Trade Representative’s office did not respond to queries about the dates, which are well after celebrations in Beijing for the 70th anniversary of the founding of the People’s Republic of China on October 1…Chinese Vice Premier Liu He will be representing the delegation from Beijing…Liu visited Washington this spring sporting the title “special envoy”, empowering him to negotiate on behalf of President Xi Jinping…however, Liu was stripped of that title on a subsequent trip after hardliners within the Communist Party balked at some of the concessions to which he had agreed…heading into next month’s negotiations, President Trump reaffirmed in Tuesday’s U.N. speech that he won’t accept a “bad deal” with China…

4. The Dow is up 28 points as of 7:00 am Pacific while the TSX has dipped 77 points on weakness in Oil and Gold…Beyond Meat (BYND, NASDAQ) is off slightly in early trading after jumping $16 a share or more than 10% yesterday on news that the alternative meat maker will see its plant-based burgers tested at McDonald’s in Southwestern Ontario…those shorting the stock suffered more than $80 million in mark-to-market losses yesterday, according to S3 Partners…overall, BYND shorts have now incurred more than $730 million in market-to-market losses, S3 found…Amex Exploration (AMX, TSX-V) has slipped 8 cents to $1.30 in early trading, though it has been one of the top performers on the Venture this week after releasing more encouraging drill results (high-grade Gold) late last week from its Perron Property near Rouyn-Noranda, Quebec…news that Canada Cobalt (CCW, TSX-V) has arranged an above-market hard dollar private placement at 35 cents suggests that something quite significant is in the works for this district leader in the Northern Ontario Silver-Cobalt Camp…activity at the mine site and property this week has been intense…

5. The Toronto Stock Exchange has unveiled the inaugural TSX30, a flagship program recognizing the 30 top-performing TSX stocks over a 3-year period based on dividend-adjusted share price appreciation…the list of 2019 winners features both newer and established listed companies across a wide range of sectors and the TSX says this new initiative “serves to highlight the power and diversity of investment opportunities in Canada’s world class marketplace”…Loui Anastasopoulos, TMX Group’s President of Capital Formation, stated, “We are extremely proud to present the TSX30, a new recognition program featuring some of the most compelling success stories among our listed issuers, including companies operating in traditional areas of strength like natural resources and also in newly defined sectors like clean tech and cannabis. TSX listed companies play a vital role in Canada’s capital markets and as we continue to evolve into a global leader, TSX remains committed to our work in support of this crucial ecosystem. Today, we congratulate the companies included in the inaugural TSX30 for all of their achievements and look forward to continuing to serve them along each stage of their growth path into the future”…the TSX30 features multiple resource companies including Kirkland Lake Gold (KL, TSX), Ivanhoe Mines (IVN, TSX), North American Palladium (PDL, TSX), Gran Colombia Gold (GCM, TSX), Wesdome Gold (WDO, TSX), Anglo Pacific (APY, TSX) and Trilogy Metals (TMQ, TSX)…

6. Green Leader Elizabeth May says if she were Prime Minister (won’t happen, of course, but her Party could hold some sway in a minority Parliament), she’d create a “war cabinet” to deal with what she says is the most important issue of the upcoming election: “climate change”…May says her party’s climate change plan would cancel proposed pipeline projects (doing irreparable damage to Alberta – and Canada in general – while Quebec still happily imports Middle East Oil) and transition Canada’s energy infrastructure to a carbon-free power-grid system, with a goal to phase out fossil fuels by 2030 to keep from crossing a climate “tipping point”…“We’re at war here,” May said at an event in Montreal yesterday, ahead of a major rally today in that city and many others across Canada and elsewhere as part of a global agenda driven by the radical left and climate change alarmists…”The future of our species is at stake, so we have to do things very differently if we are to survive”…

7. In a landmark first step toward normalization of the cannabis industry, the House of Representatives voted overwhelmingly Wednesday to pass the SAFE Banking Act, a bill that would provide state-legal marijuana businesses with full access to banks and other financial services, as well as allow consumers to use credit and debit cards when buying legal weed…the 321-103 vote followed spirited debate on the House floor…“The states aren’t waiting for us,” said Rep. Earl Blumenaur (D-OR)…“This is an $11 billion industry and growing. And it’s growing because the people and the states are demanding it. We need to step up”…should the act pass the Senate, cannabis companies will be able to open operational accounts at banks, transforming the current industry into one that’s still largely considered cash-dominant…

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Comments (3)

7 @ 7:00

Visit the BMR comments section throughout the day for updates and helpful information!

1. Gold has traded between $1,500 and $1,515 so far today…as of 7:00 am Pacific, bullion is up $6 an ounce at $1,510…despite yesterday’s sharp pullback, overall trading in Gold continues to point toward another price breakout in the not-too-distance future – the same with Silver which is up 5 cents at $17.93…Nickel has eased off several pennies to $7.88 while Copper, Zinc and Cobalt are all relatively unchanged at $2.60, $1.06 and $17.01, respectively…Cobalt prices have climbed more than 40% since their lows in July…Crude Oil is 66 cents lower at $55.83, extending losses from the previous 2 sessions, as Saudi Arabia quickly regains production volumes after an attack on its Oil facilities and amid increasing signs of slowing demand…the U.S. Dollar Index has retreated more than a tenth of a point to 98.89…several Federal Reserve members will be making speeches throughout the day, including St. Louis Fed President James Bullard…U.S. business investment declined at a more than expected 1.0% annualized rate last quarter, the government reported this morning in its 3rd reading of 2nd quarter GDP…that was the steepest decline since the 4th quarter of 2015…GDP increased at an unrevised 2.0% rate in the 2nd quarter as the strongest consumer spending in 4-and-a-half years offset weak exports and a slower pace of inventory investment…for the 1st half of the year, GDP growth was a solid 2.6%…

2. McDonald’s (MCD, NYSE) is preparing to launch a Beyond Meat (BYND, NASDAQ) sandwich and it will conduct its first global test of the landmark offering in a patch of cities and towns in Southwestern Ontario…the 12-week test will start next Monday at 28 restaurants in the region…the item will appear on those menus as the P.L.T, which stands for plant, lettuce and tomato…the burger will sell for $6.49 CDN (plus tax)…“This test allows us to learn more about real-world implications of serving the P.L.T., including customer demand and impact on restaurant operations,” stated Ann Wahlgren, McDonald’s vice president of global menu strategy…shares of Beyond Meat are up sharply in early trading today…meat substitutes from Beyond Meat and Impossible Foods have soared in popularity this year, as more U.S. restaurant chains, like Red Robin and Dunkin’, add them to their menus…Burger King, which is owned by Restaurant Brands International, recently launched a version of its Whopper made with the Impossible burger nationwide…

3. Brazil’s Vale (VALE, NYSE) has started working on resuming operations at its $3 billion Onça Puma Nickel mining complex after the country’s Supreme Court suspended injunctions against the miner earlier this month…mining at Onça Puma, in Brazil’s northern Pará state, has been halted since September 2017 as Vale failed to undergo a requested environmental impact on local indigenous communities (Brazil holds nearly 13% of the world’s Nickel reserves and Onça Puma’s laterite deposit accounts for about 11% of Vale’s Nickel production)…the complex, which also had to suspend Nickel processing in June this year, produced a record 7,100 tonnes of Nickel in the 3rd quarter of 2017, up 29% compared with the prior 3-month period, Vale said at the time…the world’s largest Nickel producer has been in disagreement with the Xikrin and Kayapó tribes since 2012 when the Federal Prosecution Office (MPF) started a public civil action against Vale and the state of Pará…the authority contended that operations at the Nickel complex had contaminated the nearby Cateté River and that the state should not have granted Vale licences for the mine…the Nickel sector is becoming a two-tiered market, with a weaker outlook for materials bound for the stainless steel industry and robust demand growth in the EV sector that will support prices, according to Goldman Sachs…

4. VSBLTY Groupe Technologies (VSBY, CSE), a niche player in the development of machine learning and artificial intelligence, continue to cozy up with multi-billion dollar entities as channel partners…this morning, VSBY announced that it has signed an exclusive global reseller agreement with Sensormatic Solutions, the leading global retail solutions portfolio of industry giant Johnson Controls (JCI, NYSE)…in announcing the agreement, VSBLTY Co-founder and CEO Jay Hutton said, “Retail is changing at an accelerated rate. Digital technology is being leveraged to enhance the shopper journey while multiple methodologies are being deployed to measure and maximize retail intelligence for both retailers and major consumer brands…Hutton added, “With its standard of excellence in retail technology innovation and global reach, Sensormatic is an ideal partner for VSBLTY. Sensormatic shares the VSBLTY vision to engage the shopper by delivering targeted content for a truly omni-connected and omni-channel store that produces both high impact advertising as well as advance shopper insights…Sensormatic Solutions Head of Strategy Amin Shahidi stated, “VSBLTY is an important piece of our strategy as retailers increasingly rely on in-store video analytics to not only understand and directly support the shopper journey but also to provide another layer of context-based security and loss prevention”…

5. North American equity markets are flat in early trading…the Dow is off 4 points, the TSX is 7 points lower while the Venture is unchanged at 579…high-grade Gold assays have given MacDonald Mines (BMK, TSX-V) another boost…BMK is the Venture’s early volume leader, up 3.5 cents at 16.5 cents…drill hole SM-19–001 at the company’s Scadding deposit near Sudbury returned 52 g/t Au over 12.3 m, including 210.2 g/t over 3 m…2 other zones were also intersected (5.7 g/t over 5.5 m, and 11.1 g/t over 7.3 m)…each zone is composed of iron-rich chlorite with variable disseminated sulphides and locally abundant specks of visible Gold…the hole was drilled within the footprint of historic mineralization, which makes the results less exciting and significant; however, grades exceeded the historical results reported in all nearby holes…the company believes that drilling H-sized core, much larger in size than the BQ or the BTW core drilled by the previous operators, may account for the increased probability of intersecting zones of coarse Gold that is characteristic of the high-grade zones of the Scadding deposit…MacDonald’s reinterpretation of the geological model at Scadding and the broader SPJ Property indicates that it could host a Gold-rich iron-oxide-Copper-Gold deposit and that significant Gold structures may have been missed by previous operators’ drilling campaigns between 2009 and 2011…in the Eskay Camp, Crystal Lake Mining (CLM, TSX-V) has closed the final tranche of a $1.5 million hard dollar financing at 30 cents…Skeena Resources (SKE, TSX-V), up a penny at 47.5 cents, continues to approach a new 2019 high as the drills turn at Eskay Creek…results released earlier this week included 27.4 g/t Au and 18 g/t Ag over 9.4 m…

6. The Toronto Stock Exchange has unveiled the inaugural TSX30, a flagship program recognizing the 30 top-performing TSX stocks over a 3-year period based on dividend-adjusted share price appreciation…the list of 2019 winners features both newer and established listed companies across a wide range of sectors and the TSX says this new initiative “serves to highlight the power and diversity of investment opportunities in Canada’s world class marketplace”…Loui Anastasopoulos, TMX Group’s President of Capital Formation, stated, “We are extremely proud to present the TSX30, a new recognition program featuring some of the most compelling success stories among our listed issuers, including companies operating in traditional areas of strength like natural resources and also in newly defined sectors like clean tech and cannabis. TSX listed companies play a vital role in Canada’s capital markets and as we continue to evolve into a global leader, TSX remains committed to our work in support of this crucial ecosystem. Today, we congratulate the companies included in the inaugural TSX30 for all of their achievements and look forward to continuing to serve them along each stage of their growth path into the future”…the TSX30 features multiple resource companies including Kirkland Lake Gold (KL, TSX), Ivanhoe Mines (IVN, TSX), North American Palladium (PDL, TSX), Gran Colombia Gold (GCM, TSX), Wesdome Gold (WDO, TSX), Anglo Pacific (APY, TSX) and Trilogy Metals (TMQ, TSX)…

7. Today’s radical left will hate this but the United States remains the country with the highest number of “ultra high net worth” (UHNW) residents, defined as those with a net worth of $30 million or more, in the world (Democrats want to “tax the hell” out of these wealth creators)…that’s according to data firm Wealth-X which has released its 7th edition of the “World Ultra Wealth Report”…the U.S. is home to 81,340 UHNW individuals, accounting for 31% of the global ultra wealthy population…that’s more than the next 5 countries combined, including 2nd-ranked China, 3rd-ranked Japan and 4th-ranked Germany…in addition, one of America’s biggest cities, New York, regained its status as the world’s richest city, which was held by Hong Kong last year…Canada sits in 5th spot overall with 10,395 UHNW residents but that’s a disturbing drop of 8.8% over the past year…wonder why?…