At the end of last year we highlighted “3 Stocks for 2014”, as it has turned out we have been quite lucky in the new year with these picks: CSIQ +43.5%, CCJ +6.7%, ABX +3.3%. While CSIQ has rocketed into the stratosphere, CCJ and ABX are just getting started. We are particularly interested in CCJ… Continue Reading

We spend a lot of time focusing on gold, however, its little brother silver is currently in a much more interesting situation from a technical perspective: Click to enlarge There is substantial promise in the silver chart: Strong support clearly exists around and just below the $19 level Bullish momentum divergence at December low ($18.72)… Continue Reading

A shocking December jobs report for Canada came out this morning: Canada shed 45,900 jobs during the month versus expectations of an increase of 14,000 jobs The unemployment rate unexpectedly rose to 7.2% from 6.9% Source: Globe & Mail These are recessionary numbers – how will the Bank of Canada respond?

There was another flash crash in gold futures this morning. I don’t have much to say about it other than it’s the usual chicanery, someone dumped 12,000 contracts at market and the market quickly recovered within 30 seconds. Another sign of a completely broken futures market… A spokesman for the CME group, which runs the… Continue Reading

Precious metals saw some very positive technical developments last week: Click to enlarge Gold Daily   Silver Daily Platinum Daily A thoughtful quote from Capital Economics analyst Julian Jessop which we tend to agree with: “The consensus is that the price of gold will grind lower in 2014, at best, as the support from loose… Continue Reading

One year ago the S&P 500 kicked off 2013 with a bang, a large gap higher and a nearly 3% rally: US equities went on to post huge gains in 2013 while gold, and gold miners, fell by the wayside. Oddly enough, GDX’s end of 2013 and beginning of 2014 are eerily reminiscent to the… Continue Reading

Gold miners began 2013 in a nascent downtrend with an extremely bearish candlestick pattern: Click to enlarge The end result was a disastrous 54% decline! Gold mining investors have ample reason to look forward to a much better 2014, including a solid end to 2013, along with a high volume bullish engulfing candlestick on New… Continue Reading

Everyone is talking about the awful year gold has had in 2013. A quick sampling of major financial sites this morning shows that gold’s decline may have superseded the equity rally for financial story of the year: Click to enlarge And of course Zero Hedge is all over the drop below $1200 in gold futures… Continue Reading

We have selected 3 large cap Canadian stocks as our favorite picks for 2014. While the three had very dissimilar performances in 2013 (CSIQ +800%, CCJ +7%, ABX -49%), We believe all three are poised to post 50%+ gains in 2014: Click to enlarge Barrick Gold (ABX) – Weekly Cameco Corp. (CCJ) – Daily CCJ –… Continue Reading

A very rare trading session today for the gold sector: Click to enlarge It might not be a coincidence that today’s 3.14% rally in gold stocks coincided with the last day for tax loss selling in Canada – if history is any indication the gold miners could be in for a long overdue Santa relief rally… Continue Reading

The results from our gold poll are in and they are somewhat surprising: A vast plurality believed that gold would remain rangebound through the end of the year. Meanwhile, barely 1 in 4 poll respondents believed that there would be a bullish end to 2013 for gold. Given that the majority of CEO.CA readers are… Continue Reading

The options market is currently pricing in a $39 absolute move in gold between now and the close of trading on December 31st. Given that gold has a tendency to make outsized moves during the final days of the year, this seems a bit cheap to us. After all, 3% isn’t much for a market… Continue Reading

…..and going long gold mining shares (GDX).  This is what a bottom looks like, not necessarily today or tomorrow, but definitely within 1-2 months: GDX/GLD Daily (5 years) The volume expansion in the GDX during 2013 has been monumental; volume expansion amid waning selling pressure are two of the key characteristics of every major market… Continue Reading

IAMGOLD Corp. (IAG) suspended its dividend after the close today. This decision was many months in the making – anyone who looked through the company’s latest investor presentation would have quickly deduced that with gold waffling near $1250/ounce, IAG would be hard pressed to be able to continue paying a dividend due to its relatively… Continue Reading

For the 3rd time in 2013 small speculators have moved to a net short position in gold futures (as of Tuesday December 3rd): Click to enlarge The last time the ‘dumb money’ moved to a net short position in gold futures was during the week of July 29th, which happened to be within one week of… Continue Reading