BullMarketRun.com

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

1. Gold has traded between $1,253 and $1,263 so far today..as of 7:00 am Pacific, Gold has rebounded $3 an ounce to $1,256…Silver has recovered 14 cents to $16.02…Copper is 3 cents higher at $3.09 while Nickel has jumped a dime to $5.15…base metals are getting a modest boost from China’s industrial output which rose 6.1% in November from the same period last year, slightly surpassing analysts’ estimates for a rise of 6.0%…Crude Oil is up slightly, trading just above $57 a barrel, while the U.S. Dollar Index has gained one-tenth of a point to 93.75…the Fed’s own Atlanta branch now sees Q4 GDP rising to 3.3% which would bring the average of the year’s final 3 quarters to 3.2% and the full-year average to 2.7%, well above the 2.1% during the Obama recovery years…

2. Rising U.S. supply, driven largely by shale drilling, will likely move Oil markets into a supply surplus in the first half of 2018, the International Energy Agency (IEA) said yesterday.  “Total supply growth could exceed demand growth: Indeed, in the first half the surplus could be 200,000 barrels per day (bpd) before reverting to a deficit of about 200,000 bpd in the second half, leaving 2018 as a whole showing a closely balanced market,” the Paris-based IEA said in its monthly Oil market report…meanwhile, Goldman Sachs says that market conditions have allowed the major Oil companies to enter “a positive earnings-revision cycle” and that “this should allow Big Oil to re-employ capital at double-digit returns.”

3. A group led by Warburg Pincus LLC has agreed to invest $780 million in an Oil exploration company, one of the largest private equity investments in a shale startup according to the Wall Street Journal…the big check from Warburg and its partners is the latest sign that private equity firms are willing to spend increasing amounts of money on U.S. energy exploration…investments of $500 million in shale companies have become commonplace, and investment firms are under pressure to put to work the huge piles of cash investors have forked over in recent years…meanwhile, in Canada, where heavy Crude prices are at 3-year lows due to capacity problems, getting Oil to market has become less important for most politicians than getting pot to market…on the positive side, though, we’ll all make money on marijuana stocks (and BLO) while the country “saves the planet” with another Trudeau National Energy Program that hurts the West in particular…

4. Cboe bitcoin futures, on pace for gains of about 17.5% this week, have enjoyed a relatively smooth first week of trading…however, investor participation has remained light as firms preferred to monitor the first futures contract on an established exchange for a notoriously volatile asset…as of yesterday, major banks such as Goldman Sachs were offering limited to no support for clients to trade bitcoin futures…the digital currency has gained about 10% this week, nearly 80% for December, and 1,733% for the year, according to CoinDesk…the world’s largest futures exchange, CME, is set to launch its own bitcoin futures contract Sunday evening…

5. Datametrex AI (DM, TSX-V), halted pending news pre-open, appears to be headed higher this morning following news that it has entered into a binding LOI to acquire all of the outstanding shares of Ronin Blockchain Corp., a global, industrial-scale blockchain platform with specific focus in mining cryptocurrencies…trading in DM resumes at 7:30 am Pacific…proposed consideration for the transaction is an aggregate amount of $10 million payable in DM shares…DM says Ronin, a private company located in Vancouver, will provide state of the art industrial mining capability across the world and utilize its industrial scale, beginning in China, to optimize efficiency and profitability of the arbitrage opportunities on a GPU based mining infrastructure…Ronin has entered into a binding MOU with GoSun Group, one of China’s largest infrastructure and networking companies with over 90 operating data centers in China…

6. The Dow is up for the 6th session out of 7, adding 105 points through the first 30 minutes of trading…in Toronto, the TSX has climbed 14 points…more than a quarter of Canadian firms could move part of their operations to the United States amid uncertainty over the future of the NAFTA trade pact, Canada’s export credit agency warned this morning…the Venture has moved back above 800 with a 5-point gain to 803 (Fib. resistance) as of 7:00 am Pacific…a close above 800 to finish the week would be a bullish development…it appears the Venture may have already put in its December low…history shows that it’s a very bullish signal when the Venture’s December low occurs early in the month…Mission Ready Services (MRS, TSX-V) touched a new multi-year high of 42 cents in early trading…Barkerville Gold (BGM, TSX-V) is raising $10 million on a bought deal flow-through financing at 74 cents led by Haywood Securities and Canaccord Genuity…on the CSE, Cannabix Technologies (BLO, CSE) is making a strong move for the 2nd day in a row with the stock adding 9 cents to $1.85 through the first 30 minutes of trading…

7. Wolfden Resources (WLF, TSX-V) is up slightly in early trading after releasing encouraging assays from the first 3 holes of a recently completed diamond drilling program at its 100%-owned Orvan Brook Property in northeastern New Brunswick…of the 7 drill holes completed, 5 of them targeted the West lens of the deposit and 2 tested the deeper East lens of the deposit…results from the West lens (East lens pending) were highlighted by OB-17–15 which cut a 2.9-m interval grading 12.8% ZnEq…WLF is now expected to turn its attention to its recently acquired Pickett Mountain Project in Maine, believed to be one of the highest-grade undeveloped VMS deposits in North America…

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