Check the BMR comments section throughout the day for updates and helpful information.
1. Gold dipped as low as $1,269 this morning before rebounding on a weakening greenback and a pullback in North American equity markets…as of 7:00 am Pacific, the yellow metal has trimmed its losses to $5 an ounce as it trades at $1,273…Silver has slipped 14 cents to $16.89…Copper and Nickel have both retreated on weaker-than-expected Chinese economic data (see below) with Copper down 4 pennies to $3.07 while Nickel has fallen 24 cents to $5.38…Crude Oil is off 65 cents at $56.10 while the U.S. Dollar Index has lost more than one-third of a point to 94.12…the Dollar Index clearly lost some technical momentum last week but has strong support between 93 and 94…in economic news, the U.S. producer price index rose 0.4% in October, much higher than analysts’ estimates in the biggest annual increase in wholesale inflation in over 5-and-a-half years…the PPI was driven up by a surge in the cost of services…
2. Gold prices have shown an encouraging chart pattern of higher lows lately but likely require a significant catalyst to make the next leg up, according to analysts at TD Securities…the metal got a minor lift last week from a softer U.S. dollar and concerns about how quickly U.S. tax reform will pass. “Gold and Silver continued to exhibit little momentum, but we have witnessed a trend of higher lows,” TDS noted. “The precious metals are in need of a catalyst to force a breakout higher – additional disappointment on the oft-cited and promised U.S. tax plan or a meaningful equity correction could well be a catalyst for a move higher. With that, any convincing move above $1,290/oz could see the yellow metal test recent highs in the mid-$1,300’s.”
3. Ray Dalio’s Bridgewater Associates significantly increased its Gold holdings in the 3rd quarter…according to Securities and Exchange filings, the investment firm increased its holdings of SPDR Trust, the world’s biggest Gold-backed ETP, by nearly 15% in Q3 to almost 4 million shares…the position is valued at more than $470 million…at the same time, the firm increased its holdings of iShares Gold Trust to more than 11 million shares, valued at $139 million+, more than tripling its investment in that ETP from Q2…
4. An overreaction this morning to Chinese economic data released overnight on retail sales, industrial output and fixed asset investment growth for October…as a result, Oil and base metals have backed off along with North American equity markets…industrial output rose 6.2% from a year earlier in October, down slightly vs. a median projection of 6.3% and September’s 6.6%…retail sales expanded 10% from a year earlier – any country would love those numbers – but that was modestly shy of a 10.5% estimate and 10.3% from the prior month (slowest pace in a year)…fixed-asset investment excluding rural households rose 7.3% in the first 10 months of the year over the same period in 2016, matching economists’ forecasts…month-to-month Chinese data can fluctuate wildly but the broad trend of a strong economy continues…it’s also important to note that all of China slowed down last month (took a pause) for the twice-in-a-decade Community Party Congress but of course the mainstream media prefers a more dramatic narrative…
5. The IEA (based in Paris) delivered a surprisingly downbeat outlook for Oil demand in its monthly market report released this morning, showing an expected slowdown in consumption that was at odds with a more bullish view from OPEC yesterday…the IEA cut its Oil demand growth forecast by 100,000 barrels per day (bpd) for this year and next, to an estimated 1.5 million bpd in 2017 and 1.3 million bpd in 2018…the agency said warmer temperatures could reduce consumption, while sharply rising output from outside OPEC might mean the global market tilts back into surplus in the 1st half of 2018…rest assured, the Saudis won’t let that happen…the IEA is also not taking political factors into consideration as an escalation in tensions between Saudi Arabia and Iran could lead to supply disruptions in 2018 and bring a significant risk premium back into Crude…
6. The Dow has fallen 95 points on profit-taking through the first 30 minutes of trading…in Toronto, the TSX has retreated 76 points while the Venture has dipped 4 points to 798 after closing above 800 yesterday for the first time since early June…the Index continues to tease with regard to a potential breakout as it retreats from key Fib. resistance at 803…however, the overall trend remains encouraging despite today’s weakness…Cannabix Technologies (BLO, CSE) has soared to a new all-time high in early trading…the company, a BMR favorite since 2014, has been listed as one of the “50 Innovations to Watch” in British Columbia by Business in Vancouver (“BIV”) magazine…BIV, in its special edition magazine, lists 50 made-in-B.C. innovations that are making waves across the province, the country and the world...Calyx Bio-Ventures (CYX, TSX-V) hit a new multi-year high of 21 cents as accumulation continues following the company’s completion last week of a $1 million financing and an update on plans to deploy its first data mining facility…Castle Silver Resources (CSR, TSX-V), in preparation for underground drilling (only company in northern Ontario Cobalt Camp with key underground access), has jumped to a fresh 3-month high after news yesterday that surface drilling has confirmed the presence of high-grade Cobalt and even Gold within a 200-m radius of the Castle mine which was one of the last producing high-grade Silver mines in the region (Agnico Eagle in the 1990’s)…an important technical reversal has also occurred in CSR as a new uptrend commences…
7. The drill result of the day belongs to Mexican Gold (MEX, TSX-V) – 54 m grading 3.9 g/t Au, 1.7% Cu and 12.6 g/t Ag (6.9 g/t AuEq)…the company this morning reported assay results for resource expansion hole LM-17-ED-40 at its Las Minas Property, first announced as mineralized over 77.2 m (October 16, 2017, news release)…assay results returned a cumulative 94.35 m of high-grade mineralization over 3 zones…the main zone, which is the largest of the 3 zones, returned the 54-m section mentioned above including a 38-m interval grading 9.2 g/t AuEq…MEX, which has only 34 million shares outstanding, is up 6 cents at 37.5 cents as of 7:00 am Pacific…
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Is it possible for John to post an updated chart for FTEC sometime this week? Everyone I know is expecting huge things from this company so there are many many eyeballs on this stock (needless to say). Thanks.
Comment by Raffi14 — November 14, 2017 @ 8:46 am
Yes, Raffi14, we’ll certainly be updating that situation over the next 2-3 days…
Comment by Jon - BMR — November 14, 2017 @ 8:53 am
BLO blows it out of the water and no comments .. hmmmmm good recovery for GGI/MTS… TAC shows why it is a closeology play:) yeehaw!!
Comment by Jeremy — November 14, 2017 @ 1:16 pm
https://investorintel.com/investorintel-video/fintech-select-ceo-competitive-cryptocurrency-solutions-point-sale/
^ Nice video interview with the CEO of FTEC.
Comment by Raffi14 — November 14, 2017 @ 1:22 pm
Wow BLO did blow up today congrats to who ever was holding that one!
Comment by Gregory — November 14, 2017 @ 4:40 pm
For a FINTECH company with a different flavor and arguably a competitive advantage you may want to look at Mobi724 (MOS). Today’s press release with VISA integration and simultaneous launch in Canada, US and LATAM, illustrates the true potential of this play: https://ir.mobi724.com/press-releases/detail/121/mobi724-global-solutions-inc-announces-successful
Comment by large — November 14, 2017 @ 4:44 pm
DVR partners with big fish Monsanto. Not too shabby having Monsanto take notice of DVR.
SAN FRANCISCO, CALIFORNIA and TORONTO, ONTARIO–(Marketwired – Nov. 15, 2017) – Today, The Climate Corporation, a subsidiary of Monsanto Company (NYSE: MON), announced a partnership with Deveron UAS Corp. (CSE:DVR)(CSE:DVR.CN)(CNSX:DVR), that will deliver farmers advanced aerial imagery data combined with powerful analytics through The Climate Corporation’s industry-leading Climate FieldView™ digital agriculture platform. The addition of Deveron supports Climate’s commitment to deliver a true digital ag ecosystem where farmers can access a broad, interconnected set of tools, services and data to optimize all of their farm management decisions.
“As remote sensing through advanced imagery continues its fast-paced development, drones are increasingly playing an important role to help farmers gain deeper insights into crop performance at scale,” said Mark Young, chief technology officer for The Climate Corporation. “Deveron has built a broad network of drones and sensors across North America to provide farmers with more data solutions to manage field variability, and we look forward to working with them to equip more farmers with data-rich imagery insights to make the best decisions for their operations.”
Based in Canada, Deveron is a leading full-service enterprise drone data company with a growing fleet of drones that can each conduct five to eight flights per day to collect, analyze and deliver farmers data-driven insights to help them make more informed decisions, reduce costs and increase yields. Deveron services are currently offered to farmers across core growing regions of Canada, and the company will be expanding its capabilities to the U.S. Corn Belt in the near-term.
During the 2017 growing season, Deveron and Climate completed a successful pilot program in Ontario, allowing farmers to visualize Deveron imagery within their Climate FieldView account. For the 2018 growing season, this partnership will enable aerial imagery data to seamlessly flow into a farmer’s Climate FieldView account at the farmer’s request, allowing them to experience deeper analysis of how their crops are performing in-season, alongside important field data layers such as planting and yield data. Recently, Climate announced the expansion of the Climate FieldView platform into Western Canada, with the platform on nearly one million acres in Eastern Canada.
“The Climate Corporation’s Climate FieldView platform aligns closely with our mission of delivering farmers a simple data collection solution, coupled with advanced analytics, to help farmers more precisely monitor their crops,” said David MacMillan, president and chief executive officer for Deveron. “Partnering with the Climate FieldView platform will further our ability to bring low cost, high-resolution imagery to more farmers so they can zero in on exactly what’s happening in their fields and gain actionable insights to help them achieve the highest return on investment.”
The Climate FieldView platform already offers advanced satellite imagery tools to help farmers protect their crops by identifying issues in the field before they impact yield. Innovative aerial imagery technologies like Deveron can provide farmers imagery at a higher resolution and frequency than satellite imagery, delivering on-demand information that can be used in digital ag tools to help farmers make more informed, data-driven agronomic decisions.
In 2016, The Climate Corporation announced the extension of the Climate FieldView platform and has since announced a variety of partnerships, including several advanced aerial imagery providers. Climate’s platform strategy unlocks a stronger and quicker path to market for third-party ag innovators, simplifying the complex digital ag landscape for farmers and making it easier for other innovators to bring valuable new technologies to farmers faster. Launched in 2015, the Climate FieldView platform is on more than 120 million acres with more than 100,000 users across the United States, Brazil and Canada. It has quickly become the most broadly connected platform in the industry and continues to expand into new global regions. Earlier this week, the company announced the pre-commercial launch of the Climate FieldView platform into regions of Europe.
As innovation in the digital agriculture space continues to accelerate rapidly around the globe, Climate continues to explore partnership opportunities to provide farmers with the insights they need to improve their productivity. If you are interested in partnering with The Climate Corporation, please visit http://www.climate.com/partners.
For more information about the Climate FieldView platform in Canada, contact Climate Support at 1.888.924.7475 or visit http://www.climatefieldview.ca For more information about Deveron, visit http://www.deveronuas.com.
About The Climate Corporation
The Climate Corporation, a subsidiary of Monsanto Company, aims to help all the world’s farmers sustainably increase their productivity through the use of digital tools. The integrated Climate FieldView™ digital agriculture platform provides farmers with a comprehensive, connected suite of digital tools. Bringing together seamless field data collection, advanced agronomic modeling and local weather monitoring into simple mobile and web software solutions, the Climate FieldView platform gives farmers a deeper understanding of their fields so they can make more informed operating decisions to optimize yields, maximize efficiency and reduce risk. For more information, please visit http://www.climate.com and follow the company on Twitter @climatecorp.
About Monsanto Company
Monsanto is committed to bringing a broad range of solutions to help nourish our growing world. We produce seeds for fruits, vegetables and key crops – such as corn, soybeans, and cotton – that help farmers have better harvests
Comment by John — November 15, 2017 @ 4:39 am