Blackberry shares (BBRY) exploded higher during the final 20 minutes of trading this afternoon on reports of a takeover offer from Samsung: The reported range of $13.35-$15.49 aligns nicely with a technical price target I placed on the shares in December. Given the enormous volume and the power of the breakout from the recent range… Continue Reading
Yes I failed. The worst idea I ever had — one rooted in the belief that a company could make a difference in the lives ofColombia villagers and their investors — is off another 40 percent in stock price Monday. But then, as a money manager familiar with the Gran Colombia Gold failure just told… Continue Reading
Gold stocks have been working on forming a bottom since the big October crash which took many gold miners to all-time lows and brought the GDX to below it’s 2008 Global Financial Crisis low. As the sector has begun to move back up during the past couple weeks some charts are breaking out from powerful chart… Continue Reading
“You interrupt too much,” people email me. “Let your guests finish talking.” But I can’t help it. I get curious. I want to know! Now! Over the past year I interviewed about 80 guests for my podcast. My only criteria: I was fascinated by some aspect of each person. I didn’t limit myself by saying… Continue Reading
An excellent post by the McClellan Market Report on the euro (EUR/USD) prompted me to think about the bigger picture for EUR/USD and what might transpire over the coming weeks. As it stands now the euro is virtually in free-fall against the US dollar with two big eurozone events coming up towards the end of… Continue Reading
After rallying more than 1000% in the span of two years TSLA is showing technical signs that all is not well. Since topping out in September the stock has hammered out a textbook head & shoulders top pattern (H&S top): Some ‘purists’ don’t like drawing slanted necklines on H&S patterns, one can also place the neckline… Continue Reading
It’s a bit of a tradition among market commentators to come up with a list of ‘surprises’ for the new year. Some of us like to combine both macro/geopolitical events with market events. I have decided to limit my 6 surprises to market events as that is my area of expertise and the primary focus of… Continue Reading
Gold posted an impressive one day gain on Friday and is once again closely gravitating to the $1200/oz level: The $1200 level holds significance for a number of reasons as we enter the final 3 trading sessions of 2014: The 2013 closing price for gold was $1204.80 – whenever a market is ending near the… Continue Reading
As we reach the climax of the holiday season, the Christmas cheer on Howe Street is a mere shadow of bull markets in years past. The mining industry and our weary investors have been delivered yet another lump of coal in our collective stockings. Not even some nice high value met coal or anthracite, but… Continue Reading
The Market Vectors Junior Gold Miners ETF (or GDXJ) is an ETF administered by Van Eck and created to replicate the Global Junior Gold Miners Index which is a basket of small-cap gold exploration, development and production companies. The GDXJ tries to maintain an average market cap of its holdings above $150 million. According to recent… Continue Reading
There is one stock in particular that caught my attention last week after displaying impressive strength following a ‘weak’ earnings report. Then yesterday it rallied aggressively and posted a highly significant chart pattern breakout. The stock is Canada’s favorite fallen angel, Blackberry (BBRY): The monthly chart shows how far BBRY shares fell after the company began to… Continue Reading
Gold enters the final ten days of 2014 in a very interesting, and far from clear, position. Some observations in no particular order: Gold in US dollar terms is down slightly less than 1% year to date while it has actually had a very good year when priced in other currencies There is a great deal… Continue Reading
Barrick Gold (ABX.T) announced this morning that operations at the Lumwana copper mine in Zambia will be suspended. The decision comes after the passing of new legislation that will increase the royalty rate from 6 to 20 percent. The new royalty legislation is effective January 1st, 2015 and eliminates corporate income tax but puts… Continue Reading
There’s a race going on in the oilpatch now to the bitter end—the end of the year. And it’s not being driven by economics. It’s being driven by the REAL currency in the oilpatch: Reputation. The energy market is cyclical and all the veteran producers and bankers of the oilpatch know this. Each senior management… Continue Reading
Looking over several investor presentations from some of the senior gold producers I came across two interesting slides which both relate to the idea of peak global gold production. The first slide, from Newmont Mining, shows global gold mine supply at a key turning point with supply falling in 2015: This slide shows a roughly… Continue Reading
