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December 27, 2017

7 @ 7:00

Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold touched a fresh 4-week week this morning of $1,288as of 7:00 am Pacific, bullion is up $3 an ounce at $1,286…Silver has added 8 cents to $16.60…Copper has pushed 5 cents higher to $3.26 (Copper for December delivery closed at its best level in more than 3 years yesterday at $3.26)Nickel has eased off 4 pennies to $5.42 while Zinc is steady at $1.48…Crude Oil has slipped 36 cents to $59.73 after pushing through $60 yesterday for the first time since June 2015 thanks to new supply disruptions…meanwhile, the U.S. Dollar Index is off one-third of a point at 92.99…the U.S. consumer confidence index is still very high but slipped more than expected in December to 122.1, as reported by the Conference Board this morning…November’s reading, meanwhile, was revised downward to 128.6

2. If a Santa Claus rally during this holiday-shortened week lifts the Dow above 26.5% on the year, it would be the strongest gain since 1995 when the blue-chip index spiked 33%…of course it’s not just the 30-stock Dow that’s on fire…the broader S&P 500 has zoomed 20% this year, similarly on track for its best performance in 4 years…and the NASDAQ has left both behind, climbing nearly 30%…unlike the chaos in turbulent Bitcoin, and other cryptocurrencies, the stock market chugged along all year without any major hiccups…market tantrums proved to be minimal, and terrific buying opportunities whenever they occurred…the S&P 500 hasn’t even suffered a 3% pullback (over 1 or more multiple days) since prior to the November elections…that’s the longest stretch on record…extreme calm has sent the VIX (Volatility index) to all-time lows…

3. U.S. stocks are off slightly to begin the session with the Dow 10 points lower as of 7:00 am Pacific…in Toronto, the TSX has added 25 points while the Venture has surged 9 points to 819 after the first 30 minutes as it gets set to challenge its 2017 and 2016 highs…Wolfden Resources (WLF, TSX-V) is showing strength in early trading, up 2 cents at 50 cents on high volume…WLF recently commenced a drill program at its newly-acquired Pickett Mountain Project, a high-grade VMS target and historic deposit in Maine…Crystal Lake Mining (CLM, TSX-V) has jumped 8 cents to 70 cents after announcing the closing of a $700,000 financing at 50 cents…CLM is preparing to drill its promising Nickel-Copper-Cobalt-PGE Property in northwest Ontario…National Access Cannabis (NAC, TSX-V), closing in on its late November high, is up 9 cents at 70 cents…last Friday, the company announced a partnership with the Brokenhead Ojibway Nation of Manitoba to establish a retail recreational cannabis store on First Nation land northeast of Winnipeg, the 5th such agreement between NAC and First Nations in that province…NAC has likely tapped into a lucrative market…Canopy Growth (WEED, TSX) has hit another new all-time high this morning, above $25…on the CSE, Cannabix Technologies (BLO, CSE), the leader in marijuana breathalyzer development for law enforcement and the workplace, has jumped 16 cents to $2.10

4. Fintech Select (FTEC, TSX-V) is up modestly in early trading after announcing that it has successfully launched its Selectcoin Cryptocurrency POS platform and is working with its internal staff and distributors to continuously activate locations and train retailers within its distribution network…the Selectcoin website will be updated today with some retailer addresses that have been set up with the Selectcoin platform and marketing material where consumers can buy Bitcoin and other cryptocurrencies…additional retail locations will gradually be added to the website, as well, the company said, adding that it’s also in the process of launching an awareness campaign across social media and through public relations initiatives…FTEC is 3 cents higher at 43 cents as of 7:00 am Pacific after nearly touching its rising 50-day SMA, currently 39 cents…

5. Israel’s markets regulator will propose a ban on companies based on Bitcoin and other digital currencies from trading on the Tel Aviv Stock Exchange…Shmuel Hauser, the chairman of the Israel Securities Authority, says he will bring the proposal to the ISA board next week…if approved, it would be subject to a public hearing and then the stock exchange bylaws would need to be amended…

6. Mining companies have enjoyed a stellar year with the combined market capitalization of the globe’s top 50 firms year-to-date rising $141 billion to a collective total of $896 billion…the majority of the gains were recorded since August…the main beneficiaries were the top 10 companies included on the list, compiled by Mining.com…they made up half of the sector’s value, rising 65%…the best results came from China Molybdenum with its stock rising 150% this year, now worth more than $20 billion…the mining company rose from 31st to 4th on the list…

7. A proposed large Gold and Copper mine that nearly got buried by the Obama administration has moved closer to reality with its developers, Northern Dynasty Minerals (NDM, TSX), filing new permits with the federal government…this marks a milestone for the project that has seen renewed interest since President Trump appointed former Oklahoma Attorney General Scott Pruitt to head the EPA.  “At the outset of 2017, we established three ambitious corporate objectives for Northern Dynasty and the Pebble project,” said Northern Dynasty President and CEO Ron Thiessen. “We committed to reaching a resolution with the U.S. Environmental Protection Agency (EPA) to restore the Pebble project to normal course permitting, to re-partnering on the Pebble Project and to initiating permitting under NEPA. As we approach the end of the year, I’m proud to report that we will hit our mark on all three important milestones.”  NDM, which plunged from $4.54 to $1.43 between January and March, continues to slowly recover and is off 3 cents at $2.31 in early trading today…

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17 Comments

  1. Oh the venture … lovin it… are we witnessing the start of a 20%+ move????

    Comment by Jeremy — December 27, 2017 @ 8:23 am

  2. Certainly 850 is within striking distance for Friday, Jeremy…

    Comment by Jon - BMR — December 27, 2017 @ 8:27 am

  3. Do you think CYX support at 25 cents is going to hold?

    Comment by Ed — December 27, 2017 @ 8:41 am

  4. CYX support is strong from the mid-20’s to low 20’s, Ed…seems to me that range will hold…

    Comment by Jon - BMR — December 27, 2017 @ 9:00 am

  5. Jon. any thoughts on CSR’s very low bid support in the high 30s.

    Thanks

    Comment by TradingAgent — December 27, 2017 @ 9:03 am

  6. Well Jon that will get some attention wont it:) and WTF is up with WEED?????? almost a billion market cap added in one day!!!!

    Comment by Jeremy — December 27, 2017 @ 9:04 am

  7. CSR and CLM moving great. Anything you can add to timing of anticipated news for CSR?

    Comment by flyinthruu — December 27, 2017 @ 9:24 am

  8. Accidentally clicked send…re-watched video of the cobalt king…amazing the area is now finally getting tapped for high-grade cobalt…couldn’t ask for a better time to get into some of these companies…thx!

    Comment by flyinthruu — December 27, 2017 @ 9:25 am

  9. Any thoughts on the trading activity of CSR.
    Keeps on grinding up.
    Thank you.

    Comment by GoldenFalcons — December 27, 2017 @ 12:14 pm

  10. Very normal and healthy, GoldenFalcons…looking good…

    Comment by Jon - BMR — December 27, 2017 @ 12:16 pm

  11. CLM tearing it up. Looking like we will push next resistance level fairly quickly.

    Comment by flyinthruu — December 27, 2017 @ 12:26 pm

  12. Considering the tremendous day the Venture had today, many stocks were truly disappointing. Starting with DM, FTEC,AIS,MTS, WHM, CYX,MRS, GGI (great day then gave most back)and more. Seems like stocks start out strong at the open then give way to the shorters all day , shorters hitting the bids on a low volume pullback thru cross trade, then stocks usually recovering with 15 minutes left in the trading day. This seems to be a daily pattern. I am hoping that todays action was somehow affected by the last trading day of the year for tax selling. Only CLM and CSR had a day reflected by the spike on the venture. Please let me know what I have wrong and what are your thoughts are on DM in particular?

    Comment by Dgambler — December 27, 2017 @ 1:21 pm

  13. What you have wrong, Dgambler, is that you’re so focused on minute-by-minute trading, you’re not fully seeing the trends and the bigger picture. DM is a great example. Had a powerful intra-day reversal Friday, eased off slightly today on relatively low volume and closed just above its EMA(10) which has been a supporting MA since the stock’s move began in late September. Nothing wrong with that at all, even though it under-performed the Venture today. The trend remains very positive.

    Comment by Jon - BMR — December 27, 2017 @ 1:38 pm

  14. BMR…Thanks for the feedback. Appreciate it.

    Comment by Dgambler — December 27, 2017 @ 1:59 pm

  15. JON:
    Thank you for the reply.

    Comment by GoldenFalcons — December 27, 2017 @ 2:40 pm

  16. Dgambler not everyday’s a green day lol

    Comment by Shawn — December 27, 2017 @ 3:14 pm

  17. Not too much chatter on CYX … added more at .26 average and expect to see a small reversal in the morning, as there has been a bit of a Short position and today of course was last day trading for Tax Loss Purposes. Weed Stocks are going crazzzzie …. WEED up over $4.00 today !!! Farmer Tom

    Comment by farmer — December 27, 2017 @ 7:53 pm

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