Gold has traded between $1,247 and $1,272 so far today…as of 10:30 am Pacific, bullion is up $5 an ounce at $1,250…Silver has climbed 12 cents to $17.06 after temporarily pushing above resistance at $17.50 earlier in the day…Copper has added a penny to $2.24…Crude Oil is off 60 cents to $43.58 while the U.S. Dollar Index is flat at 94.56…
Gold may advance as high as $1,400 an ounce over the next 12 months (too bearish in our view!), according to BNP Parias SA, which cited rising investor concern about the efficacy of central banks’ policies to sustain growth. “There has clearly been an uptick in general investor concern about the eroding effectiveness and potential overreach of global central bankpolicies,” BNP’s wealth-management arm said in a briefing paper at a conference in Singapore today as reported by Bloomberg. “We expect this concern to remain an important component of the investment landscape in coming quarters.”
The European Central Bank stands ready to use “all instruments available”, including further cuts in all its interest rates, to ensure the inflation rate returns to its target, ECB President Mario Draghi said this morning…the central bank kept interest rates unchanged today after cutting them to fresh record lows last month…in a news conference, Draghi hit back at his many German critics, saying that by questioning the central bank’s independence they were likely prolonging a period of low growth and creating the need for even more stimulatory monetary policy…
Meanwhile, analysts at BNP Paribas believe the ECB has grown less concerned about the euro’s recent gains against the U.S. dollar, as it has actually weakened against other major currencies like the Japanese yen…the gains have come in the context of broader dollar weakness and, as a result, the trade-weighted euro has not risen by as much…the weakening of the greenback has contributed to a broader recovery in the risk environment and, as a result, financial conditions in the euro zone have actually eased by some measures despite the gains in the currency…
Commodity strength…tomorrow we’ll analyze an updated chart for the CRB Index which recently broke out, as expected, above key resistance…interestingly, the move we’re seeing in commodities is being fueled, it appears, more by a reduction in supply than a stronger global economy…this puts the Fed in a difficult spot as it could end up grappling with higher inflation and middling economic growth…
Solar flame-out…U.S. solar energy company SunEdison (SUNE, NYSE) filed for Chapter 11 bankruptcy protection this morning, becoming one of the largest non-financial companies to do so in the past decade…once the fastest-growing U.S. renewable energy developer, SunEdison embarked on an aggressive acquisition strategy that left it struggling with $12 billion in debt…
In today’s Morning Musings…
1. Two new additions to the BMR Top 50 Opportunities List – one of them under 6 cents…
2. Colorado Resources (CXO, TSX-V) doubles land position as Golden Triangle and Iskut River Gold Camp heat up…
3. Updated Venture chart as Index approaches important area…
Plus more…to view the rest of today’s Morning Musings, login with your username and password, or click here to take advantage of our Spring Sizzler Subscription Special in effect for a limited time only…
SAVE 25% with a risk-free subscription as you gain full access to this and other exclusive BMR content and features, including our new Top Opportunities List May 1!…
Jon, when will you be interviewing Adam Travis? And how soon after will you release it to your subscribers? Thanks.
Comment by Dan1 — April 21, 2016 @ 10:34 am
Hi Dan1, imminently…just a matter of Adam and I coordinating our schedules…we’ll start releasing excerpts within a day or so afterward…
Comment by Jon - BMR — April 21, 2016 @ 10:58 am
Jack Bal just got hired as CEO of v.CAY.Things about to heat up!
Comment by robinandthe7hoods — April 21, 2016 @ 11:15 am
John… is there any chance of looking at the weekly chart of TMM.to and pass some opinion?? I think that your observations would be very insightful with the considerations that we are in the first throws of a gold bull as well as a venture bull…
do try and trade these puppies or hold for the long term until the TSXV begins to fold over a bit?? OR SIMPLY HOLD FOR THE NEXT 3-4 YEARS (sorry) so that a gold gap up wouldnt be missed??
I think TMM could be seen as a normal stock in this environment as such.. Just asking:)
Comment by Jeremy — April 21, 2016 @ 11:34 am
Hi Jeremy, yes, TMM would certainly be a good chart to look at, we’ll attempt to do so shortly.
Momentum is the Venture’s friend right now, the next few days will be interesting as per this morning’s chart in terms of whether we’ll see a stall in the 660’s or something dramatic that pushes the Index immediately thru that. It’s a key near-term area.
Comment by Jon - BMR — April 21, 2016 @ 11:42 am
Adam Travis interview confirmed tomorrow after the close, Dan1. So we should have something beginning over the weekend.
Comment by Jon - BMR — April 21, 2016 @ 11:49 am
Great news about the interview Jon, your hard work is very much appreciated.
Comment by rgiroux — April 21, 2016 @ 11:53 am
Great. Thanks Jon, looking forward to it.
Comment by Dan1 — April 21, 2016 @ 12:06 pm
Thx Jon… and just ran into this… only an opinion but dovetails into the TMM discussions of above…:)
To Sit Tight
Note the comment about sitting tight: “its extremely difficult to do”. You know I know the old Jesse Livermore quote better than anyone as I keep it under my pillow each night and hey my name is Plunger after all. But I have to say frankly , holding over the past 3 months has been about the easiest thing I have ever done.
I have been cool as a cucumber sitting on my positions taken in early February. I haven’t felt rattled in the least. There has been no nail biting at all. I haven’t sat debating if I should go to cash to protect my gains. I have actually been somewhat amused reading the contrary opinion written by the sceptics and the bears. It has been interesting so see them become increasingly more shrill and militant the higher price has gone up. We have been called lemmings for remaining bullish and then within days witnessed said poster get crushed under his short position.
The bearish group has scrambled to find data and arguments to support their position. Recently the data de jour has been the COT series. It has been infallible in the past right, after all the banks always win don’t they?
However from the beginning, I recognized the essential difference this time was the role of market psychology. If this was indeed the first leg of a bull market the historical model would have most players who were burned in the previous bear to greet the new trend with scepticism. The model showed the market would never look back and correct, and allow this tortured group an entry they could be comfortable with. They would like to get in, but only at the old bear market price. They have become prisoners of the past bear market, through their damaged psyche. In other market bottoms of the past price action eventually forces this group to shed its bearishness and scepticism one at a time. Eventually they succumb to the reality and buy into the market and embrace its bullishness. This of course results in the boat getting one sided and triggers the first secondary reaction or even a cyclical bear market in the new established uptrend.
So that’s the process I have recognized from the beginning. Their is no certainty that it continues to play out according to script, however, so far so good. When bears read this missive certainly the reaction will be violent ridicule and not reasoned discourse. That should tell you that we are on the right track.
Now regarding to the above posters comments of selling the positions he has, what strikes me as the most significant, and he is starting to understand this himself, is what can really happen here. The concept of multiple baggers has alluded him. Folks, I suggest two books for you, 100 to 1 written in 1974 and Chris Mayer’s 100 baggers. One of the major takeaways is to get this type of return one has to stay in the stock….(duh)
This is what is going to happen here ladies and gents. There are going to be multiple times return to a lot of these and you are going to have to turn off the bearish chorus and not let it bother you!
Comment by Jeremy — April 21, 2016 @ 12:52 pm
FNC.v now at 5 cents with 1.7 million shares traded today.
Comment by tony t — April 21, 2016 @ 2:20 pm
Blo finally closed at 0.30 hopefully this pushes it higher tomorrow. The volume has been there, the news has been there just couldn’t get past 0.29
Comment by Matt — April 21, 2016 @ 3:29 pm
Hi Jon, any thoughts on the news from ELT today? Thanks
Comment by Danny — April 21, 2016 @ 6:35 pm
BLO is going to be a barnstormer as long as the management are on top of their game… by what happened in Jan/Feb there should be no lack of confidence
also have been having dialog with Dave McMillian from Deveron/Greencastle.. professional.. also introduced him an associate of mine who knows drones.. my associate also told me that the biggest drone application market is agra… hmmmmm
very cool…
Comment by Jeremy — April 21, 2016 @ 6:45 pm
Hi guys,
When you make additions to the Top 50 Opportunities List do you also make subtractions in order to stay at 50 stocks? If you do drop stocks from the list could you please let us know which are dropped?
Also how are you making out with the site search function? When it is operational it would also be useful if we could click on the Top 50 List so we could check that out at anytime also.
You guys are doing a good job. I would recommend BMR to anyone who is interested.
John
Comment by John — April 21, 2016 @ 6:46 pm
Hi John, as we note in the weekly review, the “New Additions” are in a separate category at the moment.
A new Top 50 List will be unveiled May 1, meaning some companies from the current list will be deleted at that time, and most of those on the current New Additions list will be included in the fresh Top 50 List.
We are still addressing updated search tools in conjunction with some other enhancements.
Comment by Jon - BMR — April 21, 2016 @ 7:47 pm
I suspect with the extra land CXO picked up it makes them an even more attractive target for a take out or joint venture.
Comment by Dan1 — April 22, 2016 @ 4:08 am
Definitely, Dan1…this is just the beginning…we have an angle to all of this in terms of CXO and the entire area that could literally make our subscribers fortunes over the next several months…we’ll explain more today…take action as recommended again yesterday…
Comment by Jon - BMR — April 22, 2016 @ 4:21 am
Are you guys aware of any historical stocks that were in similar shoes as GBB ? Ie what happened when they got coa approved and could start mining on it…am curious as to what kind of run they had after that news.
Comment by Matt — April 22, 2016 @ 5:23 am
Matt, we’ve seen several examples of immediate big moves after Quebec government approvals – Royal Nickel was but one example in late June of last year, check it out. Anyway, the key point is that with the CofA everything changes for GBB and they can quickly make that critical jump to the production stage, and in a much better environment for Gold…
Comment by Jon - BMR — April 22, 2016 @ 5:35 am
PTU opens lower but accumulation opportunity based on today’s new chart…
Comment by Jon - BMR — April 22, 2016 @ 5:55 am
Grizzly Project Update…..”Garibaldi expects to be able to report preliminary results during the week of April 18.” From their last news release….weeks almost done…anyone hear anything? Thanks, Foz
Comment by Foz1971 — April 22, 2016 @ 6:03 am
Jon, this may be a dumb question but do you anticipate any “First Nation” problems in regards to the Iskut River Region if any of the companies there make a discovery.Just remembering what happened at the Hat. Hopefully all will go well.
Comment by pole — April 22, 2016 @ 6:18 am
No I don’t, pole…keep in mind the strong mining history in this area and the fact that Pretium and Seabridge’s projects have already received full provincial and federal government approvals…besides, Colorado has demonstrated an excellent working relationship with the Tahltan (Chad Day used to work for CXO)…other companies active in the area are also in good standing with native groups…
Comment by Jon - BMR — April 22, 2016 @ 6:22 am
I heard from sources this morning, Fox1971, that it is coming today or pre-market Monday depending on timing of regulatory approval…
Comment by Jon - BMR — April 22, 2016 @ 6:23 am
Thanks Jon. Did not know Chad Day use to work for Colorado. Makes me feel better about the area now.
Comment by pole — April 22, 2016 @ 6:25 am
Thank you Jon. Much appreciated.
Comment by Foz1971 — April 22, 2016 @ 6:30 am
Knowing Regoci,an after market PR today would be typical.Nothing seems to move the needle for GGI.
Comment by robinandthe7hoods — April 22, 2016 @ 6:48 am
Go Blo go
Comment by Matt — April 22, 2016 @ 6:52 am
Yes, BLO got some unexpected publicity from the media reporting on this guy out in B.C. who says he has a marijuana breathalyzer he can produce thru 3D printing for next to nothing…BLO has moved as expected into the near-term Fib. range and is looking very strong…GO BLO!
Comment by Jon - BMR — April 22, 2016 @ 7:00 am
I have given regocci the benefit of the doubt even when many others have not, but it’s getting very frustrating. says he will release results this week in a public NR then does not deliver. He is losing credibility fast in my book. I hope things change soon.
Comment by Sameer — April 22, 2016 @ 7:39 am
i would assume that a monday morning GGI news report would be better than an early friday report or an anytime friday report. lol
Comment by Ed — April 22, 2016 @ 12:00 pm