Gold has traded between $1,053 and $1,068 so far today…as of 10:30 am Pacific, bullion is up $9 an ounce at $1,066…Silver has added 3 pennies to $14.10…Copper is flat at $2.08…Crude Oil, on track for a 10% decline this month, is relatively unchanged at $41.74 while the U.S. Dollar Index is up one-tenth of a point at 100.21…
Money managers are holding their first net-short position in Gold since August, and this has to be viewed as a bullish contrarian sign…in addition, assets in exchange-traded products backed by Gold have reached their lowest since 2009…
The raw commodity sector has just experienced one of its worst months in nearly half a century…what’s encouraging, however, is that the Venture held up as well as it did during this rout, suggesting the latest sell-off in commodities has mostly run its course and a rebound is likely just around the corner…
Over the last 2 months, since the beginning of October, the Venture has been basing above its August low and through Friday was down just 3 points, or less than 1%, during that time (vs. a 17% loss over the same period a year ago)…meanwhile, also since the beginning of October, Gold is down 5.2%, Oil has fallen 7.4%, while Copper is off 11.1%…extreme oversold conditions have emerged in certain commodities with the CRB Index now hovering just above its all-time low…the Venture has mostly shrugged this off in recent weeks, along with the big move to the upside in the greenback…
This doesn’t mean commodities have necessarily found a final bottom…what it does mean, though, is that conditions are ideal for a significant recovery starting very soon, and the timing also coincides with the upcoming period of traditional seasonal strength for the Venture…December (particularly the last half of the month), January and February have proven to be the best 3 months of the year for this market with an average historical return of more than 13%…
In today’s Morning Musings…
1. Signs of encouragement in the short-term chart for Silver…
2. Lingo Media (LM, TSX-V) reports another profitable quarter…
3. The powerful impact of Kaketsa on Garibaldi’s (GGI, TSX-V) Grizzly…
4. More high-purity silica assays from Rogue Resources (RRS, TSX-V) as it expands drilling near the Sitec operating mine in Quebec…
Plus more…to view the rest of today’s Morning Musings, login with your username and password, or click here to gain full access to this and other exclusive BMR content and features…
EQT- back on the move up, this aft.
Comment by Bob — November 30, 2015 @ 10:54 am
EQT.. Check out those huge bids, results will be out this week..stay tuned!!
Comment by Jeff — November 30, 2015 @ 11:08 am
EQT.. Check out those huge bids, results will be out this week..stay tuned!!
Comment by Jeff — November 30, 2015 @ 11:08 am
EQT- if they are going to miss when the assay results come out on the recent drilling then why are they spending so much time on summits and conferences promoting the company and the Garland project? This is a waste of effort, time and money especially. If they have a plan b it wouldn’t make sense, and they also changed the website to solely reflect Garland.
Comment by 02charoc — November 30, 2015 @ 11:13 am
When I click on the latest GGI CEO interview above it says file not found?
Comment by Jamie — November 30, 2015 @ 12:02 pm
Jamie, one individual had the same issue last week…try rebooting your computer…checks fine on all our systems on this end.
Comment by Jon - BMR — November 30, 2015 @ 12:09 pm
Jeff – I have posted more than once that EQT assays WILL NOT be out this week. Kyler is not even in the country, nor will he be by end of this week.
Comment by dave — November 30, 2015 @ 3:14 pm
The move on EQT was a TA move, nothing more.
Comment by dave — November 30, 2015 @ 3:16 pm
interesting news out on CGC – to buy out peace naturals formerly tweed – or sue it into the ground
Comment by kelly — November 30, 2015 @ 4:01 pm
I should also mention that the volume and move was probably mostly retail from the SH board as they think news is this week. EQT may go to .14 again which is heavy resistance and then come down again without news coming out. It is risky because you will not see a volume surge on it like most stocks. There will not be a leak not even to the first brokerage house. This is the way Hardy wants it.
Comment by dave — November 30, 2015 @ 4:22 pm
Osisko just dropped a lot of money on Barkerville gold. Sprott also has a lot of money in the company. Frank Callahan is out and got rid of debt. Pretty big volume today on the news. What are ur thoughts on Bgm?
Comment by Sameer — November 30, 2015 @ 5:06 pm
EQT – why does he have a be in the country? Can’t he work from a computer?
Comment by 02charoc — November 30, 2015 @ 5:20 pm
Jon are u ready for.the new tomorrow 7am eastern
Comment by Martin — November 30, 2015 @ 8:07 pm
What is that, Martin? I know the calendar has flipped to Dec. 1, so that means we should see a new Venture very soon…monster rally also coming in Gold, commercial traders’ short positions are at amazing lows…
Comment by Jon - BMR — December 1, 2015 @ 5:28 am
02charoc- first, he has to sign off on the news release. second, he wants to be in vancouver.
Comment by dave — December 1, 2015 @ 6:26 am
Tought we would have a news from ggi this morning Jon
Comment by Martin — December 1, 2015 @ 6:29 am
Martin, I suspect we’ll see something from GGI very soon, I doubt they have seen anything from their lab just yet…
Comment by Jon - BMR — December 1, 2015 @ 6:36 am
Is GGI known to Halt their stock?
Comment by Tony T — December 1, 2015 @ 6:38 am
I think Regoci would like to include hole 3 in it
To really given the stock a spark
Comment by Martin — December 1, 2015 @ 6:40 am
ABR.v Ashburton Completes First Hole, Intersects 80 M of Graphite at Buckingham
Read more at Stock House website – Dic. 1, 2015
Comment by zippy — December 1, 2015 @ 6:40 am
No, they aren’t, Tony. A company can request a trading halt on what it considers to be material news, or in fact the regulatory authorities can halt a stock themselves if they view the news as being particularly material to a company.
Comment by Jon - BMR — December 1, 2015 @ 6:43 am
I was wondering if GGI would halt their stock if assays came back extremely positive.
Comment by Tony T — December 1, 2015 @ 6:45 am
They just haven’t had a history of that, Tony, but anything is possible, especially if they have hit something unusual in the Sheslay district as the core and descriptions suggest…we’ll find out soon enough…
Comment by Jon - BMR — December 1, 2015 @ 6:55 am
10-4 thanks again Jon
Comment by Tony T — December 1, 2015 @ 6:59 am
I follow many stocks. This has to be the lightest volume Tuesday I have seen all year on stocks.
Comment by dave — December 1, 2015 @ 7:08 am
GGI, the waiting is killing me…..
Comment by Greg — December 1, 2015 @ 7:15 am
Anyone know whether DBV sent 23, 24, 25 to the lab…
Comment by ConcernedCitizen — December 1, 2015 @ 7:22 am
With respect to DBV – any thoughts on timeframe for financing? Sounds like nothing will happen on the ground until some funding is looked after first. Curious how much longer we’ll have to wait.
Comment by Steve A. — December 1, 2015 @ 8:32 am
GGG – easy double
Comment by dave — December 1, 2015 @ 9:44 am
GGI – looks like one final shakeout ahead of assay results!!
Comment by Jeff — December 1, 2015 @ 10:15 am
ABR +100% on 10.8million shares traded…nice action on Hole # 1 @the Buckingham project
Comment by zippy — December 1, 2015 @ 11:23 am
Thanks Zippy on the ABR bought a bunch at 1.5cents
Comment by 123car — December 1, 2015 @ 11:29 am
Re:DBV
Heard financing being worked on as we speak
I expect a a much clearer picture of the size of the Hat with the PowerPoint Presentation supposed to go on their website tomorrow that compiles all the historical data for the Hat , maybe sprinkled with a few surprises.
Comment by Don — December 1, 2015 @ 12:56 pm
RE comment 33: Thanks Don
Comment by ConcernedCitizen — December 1, 2015 @ 1:07 pm
Yes, thanks Don…appreciate the DBV update.
Comment by Steve A. — December 1, 2015 @ 1:17 pm