TSX Venture Exchange and Gold
The Venture roller coaster ride continues: The Index has moved up or down by at least 12 points in each of the past 6 weeks, with the weekly gain or loss extending from a minimum of 1.6% to a maximum of 4.5%. Two weeks have been up (18 points and 19 points) while 4 weeks have been down (15, 14, 34 and 12 points). Last week the Index shed 12 points to close at 735 while U.S. equity markets hit new record highs.
Technical and seasonality factors as well as Gold’s weakness have kept the Venture within a corrective phase that started in mid-August. The good news is, sunny days again are just around the corner as the Venture enters its strongest 3-month period on the calendar (December, January, February).
The fact the Venture is holding up as well as it is in the face of an exceptionally strong U.S. dollar and weakness in Gold is a positive sign. There are just 13 more trading sessions before a likely Fed rate hike which should kick-start a pre-Christmas turnaround and a powerful finish to what has been the Venture’s best yearly performance since 2010.
As for Gold, which has plunged in each of the past 3 weeks, the charts and the fundamentals following the Trump victory are fascinating…
Click here to read the rest of today’s Week In Review And A Look Ahead, and learn more about the Venture’s critical bull market support zone and Gold’s near-term prospects, with a risk-free Pro, Gold or Basic subscription featuring a 100% money-back guarantee, or login with your username and password.
I sure hope all Canadians heard the praise Justin Trudeau gave Castro yesterday, if you haven’t, you must check it out, that was so pathetic I can’t even repeat them, I sure hope Canadians backlash on him.he’s just to young and dumb to know what a ruthless murdering dork Castro actually was. I’m embarrassed he is our free nations representative. Do some history homework Justin, terrible.
Comment by Laddy — November 26, 2016 @ 12:51 pm
Yes, unbelievable, Laddy. To heap lavish praise on a brutal, ruthless Communist dictator who trampled human rights is an absolute disgrace, not to mention incredibly hypocritical when you have a Prime Minister who supposedly is a “champion” of rights (LGBT, natives, Muslims, etc.). How many people has naïve Justin spoken to who were victims of Castro? The Cuban dictator is now dead. Good riddance as he’s now exactly where he belongs.
Comment by Jon - BMR — November 26, 2016 @ 1:50 pm
Yes put the hat on him for being the dunce of the year. The backlash has already begun, they just had his picture on fox and what he said,the pause and the look of that reporters face was very concerning, he has to be very careful what he says in a now changing world. He should be slapped and sent to his room till the next election…geez us!!!
Comment by Laddy — November 26, 2016 @ 2:32 pm
Castro was the Godfather of leftists, including Justin’s father and ex-PM Pierre. You’re right, Laddy – Justin isn’t winning any points south of the border, and he’s in for a very long and difficult 3 years. Very long and difficult! A far cry from what he had imagined given his foolish assumption of a Hillary victory. Reminds me of when Pierre Trudeau was running Canada at the same time Reagan was elected…within 4 years, the Reagan Revolution had spread to the Great White North. History is about to repeat itself because Canadians aren’t going to put up with the destruction of wealth that we’re seeing today in Ontario, Alberta and on a broader scale thru most of the country due to left-leaning, globalist political elites bent on “saving the planet” who don’t put Canada first and know nothing compared to the titans of commerce Trump is assembling. The political hacks drop initially in Ontario and Alberta, then the movement goes national. And it will be a movement, a big one. Kevin O’Leary?
Comment by Jon - BMR — November 26, 2016 @ 2:41 pm
Trump will chew him up and spit him out in a heartbeat, anyone not thinking that is delusional, I finally grabbed some dbv on Friday and I’m loaded and ready with ggi, this will be a good week coming up, I have to commend you guys on explaining on what gold and the greenback should do, mainstream media are all so giddy it seems on how all time highs and the surge of the dollar is so good, but they never say what if, I’m also wondering if you see at some point Iran being some sort of catalyst in the near future..gold?
Comment by Laddy — November 26, 2016 @ 3:06 pm
Unreal, that’s exactly who I’ve been thinking and saying for some time now, why not o’leary, he’d be perfect, if someone could talk him into it….I’d vote for him……
Comment by Laddy — November 26, 2016 @ 3:32 pm
I suspect he’s going to go for it, Laddy, and with such a powerful business background and a tone and social views that most Canadians would embrace, he’d be a big hit on the national stage.
Comment by Jon - BMR — November 26, 2016 @ 3:37 pm
I’d love to see that, and if all of these pipelines are denied, and we stay status qoe, the movement will get much louder, garenteed.
Comment by Laddy — November 26, 2016 @ 4:05 pm
No doubt Trump and Trudeau will be an interesting dynamic. They are so different.
I never had a problem with Canada maintaining good relations with Cuba. I am not in any way justifying some of the things Castro did but sometimes you can effect positive change by working with a government as opposed to piling embargoes on it which rarely work.
My biggest problem with Trudeau is all the spending that’s taking place, who knows what the debt will be by the time he’s done. I think we will look back and say that Stephen Harper was a pretty darn good Prime Minister. Sorry for the political rant but I didn’t start it.
Comment by Danny — November 26, 2016 @ 4:51 pm
I don’t disagree with you on that, Danny, but pouring such lavish praise on a Communist dictator of a country who has carried out such atrocities, goes against our very values as a democratic nation…regardless of whether he brought good healthcare or an education system to Cuba as liberals like to claim. Trudeau is also showing a side of him that will not be respected in the new Washington. All the more reason for Trump to say to Trudeau, kick in another $20 billion a year to pay your fare share of defense rather than continuing to hitch a free ride from the U.S. while spouting off crazy stuff. Guess where that puts the deficit!
Comment by Jon - BMR — November 26, 2016 @ 5:06 pm
Jon: are you saying we might continue the downdraft for 13 days just to recover the 13 days and a bit more later in the month???…..
Comment by STEVEN1 — November 26, 2016 @ 6:17 pm
Canada is cooked with Justin Trudeau and Rachel Notley pushing Climate Change and driving Canada deeper and deeper into debt us tax payers ore going to be paying for this screw ups!!
Ottawa runs $2.4B deficit for September, double last September’s
3 more years of garbage in Canada unbelievable people voted for these 2
rant over
Comment by TheSkipper — November 26, 2016 @ 7:01 pm
The Venture is up from where it was 12 days ago, Steven1, so it has not been a steady downturn. The move over the last half of December should give us a nice net gain over where we are now, taking into account any further losses between now and mid-December.
Comment by Jon - BMR — November 26, 2016 @ 10:05 pm
I have no problem with Justin’s comments on Fidel. Perfect example of Canadian Culture vs American – Polite versus rude. The reason Americans sew a Canadian flag on their backpack when they go traveling overseas.
As for you Canada stepping up on its military contributions – Trump is going to demand this regardless – he has to because he cutting taxes so much but still wants to nuke ISIS.
Comment by Mmurphy — November 27, 2016 @ 7:18 am
It’s not an example of “Canadian culture”, Mmurphy, to heap praise on a Communist dictator who engaged in such horrific abuses of power (firing squads, torture, trampling of freedoms, separation of families, you name it including persecution of gays who Trudeau purports to defend). Countless soldiers from this country bravely and unselfishly gave their lives in 2 World Wars (and other conflicts) to defend our system of democracy, human rights and free enterprise. Strategically, another mistake by the young lefty (socialist) Trudeau as the Trump administration prepares for power—-they know exactly who they’re dealing with and will act accordingly. Trudeau’s comments are all over U.S. media and the reaction from down south (let alone throughout many parts of Canada) isn’t good. If anyone thinks that’s positive for this country, think again. His comments were an indefensible disgrace to Canadian values, plain and simple. Even Trudeau’s former foreign policy adviser, Roland Paris, said the PM’s comments were not appropriate. There is no defense for what Trudeau said, though not surprisingly he was supported by the Quebec Premier. We all know about the Oil hater Phillipe Couillard.
Comment by Jon - BMR — November 27, 2016 @ 8:14 am
I’ll be watching DBV for a exciting week
Stock appears ready to break out
Jmo
Comment by Blue Beryl — November 27, 2016 @ 9:00 am
Jon: is a 1000 still in play for the Venture this year? Thanks!
Comment by STEVEN1 — November 27, 2016 @ 9:01 am
It is looking good, Blue Beryl, and what I like also is that a lot more holes are coming at the Hat due to the financing. Excellent candidate for a strong finish into year-end. Core from H-26 will yield some really nice intercepts as it’s easy to compare with core from previous holes that ran.
Comment by Jon - BMR — November 27, 2016 @ 9:25 am
Jon
Do you think given that GGI now having other priorities , Reggoci should consider optioning Grizzly to Doubleview who have drills turning, possibly delivering potential value to GGI shareholders without diluting the treasury or their new strategy.
Especially with Pat McAndless managing the drill team.
Imagine if the DBV team could find a additional porphyry on the Grizz.
Your thoughts appreciated
Comment by Blue Beryl — November 27, 2016 @ 10:20 am