TSX Venture Exchange and Gold
Editor’s Note: Due to the Victoria Day long weekend, there will be no Sunday Sizzler report tonight. Though Canadian markets are closed tomorrow (U.S. markets are open), there will be an abbreviated Morning Musings.
The Venture’s bullish bias was again on display last week as the Index posted a small gain despite Gold’s worst weekly performance in 2 months on a continuation of the rally in the U.S. Dollar Index. The “sell in May and go away” strategy of some investors hasn’t worked very well as the Venture has gained 1.6% so far this month after finishing Friday at its weekly and yearly high of 686.
The Venture has had ample excuses to correct this month (Gold down 3%, Silver off 7.4%, Copper down 8.7%, greenback up) but hasn’t. Find out why the Index is poised to continue its climb.
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John/Jon, just wondering what you think of the chart for Macarthur (MMS). It looks to me that we have had a much needed correction from over bought levels this past week and we are in a consolidation phase before the next move up. Do you think the Lithium Conference in Vegas this week will have a positive effect on Lithium stocks? Will companies perhaps wait until the conference to release news? Thanks for your thoughts.
Comment by Danny — May 22, 2016 @ 4:11 pm
For those that remember a little company that used to get discussed here, court date for DBV is this Tuesday. Good luck to all those shareholders…could see some nice developments in the near future if all goes well…fingers crossed.
Comment by Steve A. — May 22, 2016 @ 4:38 pm
Thx Steve… been a long road…
Comment by Jeremy — May 23, 2016 @ 6:03 am
To me, Danny, it looks like MMS has been able to unwind a little which is healthy. Resistance is 15 cents as John has pointed out. Looks healthy to me, and the Lithium space is going to continue to be strong as evidenced by Canaccord’s bought deal on CRE last week. Lots of potential for new finds in Australia where MMS is focused with a very large land package.
Comment by Jon - BMR — May 24, 2016 @ 2:48 am
Thanks Jon!
Comment by Danny — May 24, 2016 @ 4:46 am