The best investment opportunities usually present themselves when the market fundamentals & technicals align in the same direction. Such is the case with the Toronto Venture Composite Index (TSX-V): Click to enlarge The TSX-V is testing double-top resistance from May, if it can break above 972 it will trigger upside targets of 1020 and 1080.… Continue Reading

Tomorrow morning the market will get a glimpse of the September non-farm payrolls report. A report which was delayed due to the temporary US government shutdown. A disappointing NFP report could help to extend the Fed’s current pace of asset purchases well into 2014 and likely trigger the next leg higher in precious metals and… Continue Reading

We had the wonderful opportunity of attending the Canaccord Genuity Global Resources Conference during the past couple of days in Miami, Florida. Canaccord put on a first class event with many of mining and energy sector’s best CIOs and CEOs on hand. Below are some of the key takeaways from the conference: Most miners are… Continue Reading

Gold was supposed to be down huge once a debt ceiling deal was achieved – it appears that the DC clown show is nearing a deal but gold actually rose today: Click to enlarge For gold to break out of its 7-week downtrend we will need to see a daily close above $1300, however, today’s… Continue Reading

Futures are a zero-sum game in the sense that on the contract settlement date all the longs and shorts must net out, with the contracts either being cash settled or the longs taking physical delivery of the commodity in return for providing cash to the sellers. However, during the time that a given futures contract… Continue Reading

At 8:42am EDT this morning an entity entered an order to sell 5,000 December gold futures contracts at market. This order represents roughly $640 million in notional gold value and triggered a temporary 10 second trading halt and a 5-minute period in which over $2 billion worth of gold futures contracts changed hands: Click to… Continue Reading

Goldman Sachs’s head of commodities research Jeffrey Currie was quoted today in London as saying: “Once we get past this stalemate in Washington, precious metals are a slam dunk sell at that point…..You have to argue that with significant recovery in the U.S., tapering of QE should put downward pressure on gold prices.” This all… Continue Reading

Barrick Gold (ABX), the lowest cost senior gold producer, is currently trading at levels which are simply too cheap to pass up. From an investment risk-to-reward standpoint Barrick has rarely been so attractive – Barrick’s enterprise value is back to 2009 levels when the gold price was more than $300 lower: Click to enlarge  ABX… Continue Reading

Yesterday’s $50 puke in gold futures to kick off the month of October may have laid the final foundation for a massive multi-month bottom in gold. The $1276 level in December gold futures is not only important support from the summer, but it also happens to be a key Fibonacci retracement level: Click to enlarge… Continue Reading

The “dominant fundamental” for the gold market during the past few years has clearly been the ‘illusion of central banking.’ Allow me to explain a bit. First there was the illusion that Fed easing would stoke enormous inflation. This proved to be false as the pernicious deleveraging cycle brought about by the global financial crisis… Continue Reading

After today’s Fed bombshell all eyes are now focusing back towards the mining & resource space. I have selected four charts (two seniors and two juniors) that contain a significant amount of risk-adjusted potential: Click to enlarge ABX FCX CNL.TO EDV.TO ABX and FCX hold anywhere from 10-50% of short-to-medium term upside, whereas CNL and… Continue Reading

After being speechless and in a mild state of shock for the past 5 hours I have some thoughts on today’s market action: Today’s FOMC announcement was a tacit admission by the Fed that the economy is not nearly as strong as it appears to be using certain widely lauded data points (consumer confidence, housing… Continue Reading

The Federal Reserve will issue its latest verdict on monetary policy tomorrow at 2pm EST. In addition, the FOMC (Federal Open Market Committee) will provide its latest economic guesses …err….forecasts which will be heavily parsed over by market participants. This will be followed by Chairman Bernanke’s grand entrance to his press conference in which he will… Continue Reading

As we enter the week of September 16th, 2013 everything appears to be hinging on the FOMC announcement Wednesday at 2pm EST. Chairman Bernanke will hold a press conference at 2:30pm EST which will be heavily parsed, to say the least. For a Fed which has had a major communication problem in recent months, the… Continue Reading

Yesterday after the close I mentioned to another trader that gold futures needed to stage a rally back above $1370 overnight or else they would be vulnerable to a break below $1350 the following morning. As it turned out, we got a bear raid overnight when 2,000 GC contracts hit the market in a split… Continue Reading