Precious Metals Big Picture

While many are talking about major new bull markets in gold, silver and the miners I find it safer to set realistic goals within a still very bullish outlook. After all, we became bullish in November, had to retrench due to over-bullish sentiment and fading fundamentals in February (both situations linked here) and then have been back in the bull seat since the gold stock launch as noted on June 3rd.

The point being, I have nothing to prove to you; nothing to woo you and tempt your greed impulse about. NFTRH has simply called the sector in line with its fundamentals and technicals, and that is what we continue to do as of this day. We chart 20 quality miners (+/-) each week and note short-term targets, resistance, etc. for the miners, gold and silver routinely.

The other priority is to stay on top of the still-bullish fundamentals. Most recently silver joined the party and is probably slamming our favored theme into gear, which is for it to take over leadership from gold and potentially lead the macro to a future inflationary cycle. Easy now, that is still in the realm of potential, not yet reality. But all of this fun – and it has obviously been fun lately – takes place against a big picture that is lumbering along at its own pace.

What I like best is that due to the big picture view I can put forth a conservative 2019 plan, and it still calls for a minimum of another 70% upside for the HUI index. Within that, many of the miners we track will do much better. And within that, we have not even seen the speculative end wake up yet. Those would be the little TSX-V type penny stock bottle rockets (lottery tickets) that pull 400% rallies out of nowhere when they finally get played.

Okay, let’s reel it into the lumbering big pictures on HUI, gold, and silver. As noted, there will be bumps and pullbacks along the way. Monthly charts are not preferred for managing those situations so we’ll stick with the dailies and weeklies in NFTRH reports. But with the ferocity of the current rally (and the fundamentals behind it) it appears a good bet that a second leg to the impulsive ‘A’ leg in 2016 is underway after the beautiful consolidation that killed everyone’s spirits (as it should) since 2016. Continue reading "Precious Metals Big Picture"

Former Canopy CEO Loves This Stock

CEOs have an insider’s view that is second to none. When they talk, it pays to listen closely. They drop clues that can be used to find great investments. That’s what happened last week with a rock star CEO in the cannabis industry.

Bruce Linton founded Canopy Growth Corp (CGC, WEED) in 2013. Back then, Canopy was only worth $100 million – but in the next six years, Linton grew Canopy into a $15 billion global juggernaut and the largest cannabis company in the world. That’s one of the fastest growth rates in the history of the stock market. It made early investors rich and Linton was widely considered the Pied Piper of the global cannabis industry.

If the cannabis industry had a rock star CEO – it was Bruce Linton. His insight and connections in the cannabis industry are unparalleled. That’s why it came as such a big surprise last week when Constellation Brands (STZ), which owns 38% of Canopy, fired Linton. After the news hit the wire, Linton quickly called into CNBC and dropped a hot investment tip about one of his favorite cannabis companies that cannabis investors need to know about.

Kevin O’Leary, the billionaire investor famous for his role on NBC’s Shark Tank, asked Linton if there were any cannabis companies he would consider investing in. Here’s what Linton said. Continue reading "Former Canopy CEO Loves This Stock"

Bitcoin Loses Its Luster

Hello traders everywhere. Bitcoin experienced one of the most significant daily price losses of the year losing over -13% on Tuesday, its second-biggest daily loss of the year. In turn, that triggered a new red weekly Trade Triangle indicating that we are now in a sidelines position based on the intermediate to long-term strategy. In the short-term, this could be viewed as a switch from a bullish market to a bearish market for Bitcoin.

Why the sudden move lower? I believe it can be directly attributed to the growing calls for regulation of Facebook's Libra project and cryptocurrencies in general. Facebook's plan came under attack at a U.S. hearing this week, with senators calling the company delusional and untrustworthy. They also questioned the social media giant on how it was planning to prevent money laundering. And, a week ago, President Donald Trump called for banking regulation on bitcoin and Facebook's Libra.

Now many in the investor community are beginning to worry that Facebook's Libra project will end up fast-tracking regulations for the crypto market.

What do you think? Will this move by Facebook fast-track crypto regulations?

Key Levels To Watch This Week:

Continue reading "Bitcoin Loses Its Luster"

Restless Bitcoin Makes Fiat Elite Sleepless Again

A year ago, “Bitcoin was at a crossroads” as then I spotted a triangular consolidation on the chart. The price could go both upside and downside, and I marked them as “Revival” and “Oblivion” areas accordingly. Below are your bets for the future of Bitcoin a year ago.

Bitcoin

Crypto enthusiasts are in the majority, although haters scored a hefty 41%. This violent confrontation shows that Bitcoin again threatens the interests of the elite as there are a lot of people, including President Trump, who expresses their opposition to cryptocurrencies as a whole. And it’s a natural course of things as human beings often reject changes and the elite try to shield their ultimate position.

Bitcoin broke both the downside of the triangle and the bearish confirmation level at the $6400 entering the “Oblivion” territory. The bearish target of $1250 had not been reached as the price of crypto gold had reversed ahead of $3000 notch. So, the first move was to the downside, and those of you who chose the “Oblivion” option was right.

This year Bitcoin entered the “Revival” area. It’s time to update the chart, and I am going to start with the monthly time frame. Continue reading "Restless Bitcoin Makes Fiat Elite Sleepless Again"

World Oil Supply And Price Outlook, July 2019

The Energy Information Administration released its Short-Term Energy Outlook for July, and it shows that OECD oil inventories likely bottomed last June 2018 at 2.805 billion barrels. It estimated stocks dipped by 4 million barrels in June 2019 to 2.902 billion, 97 million barrels higher than a year ago.

However, throughout 2019, OECD inventories are no longer expected to rise any further, on balance. At year-end, EIA projects 2019 to be with 2.899 million barrels, 37 million more than at the end of 2018. For 2020, EIA projects that stocks will build 35 million barrels to end the year at 2.934 billion.

oecd oil inventories

The EIA has revised its estimates for future OPEC production down significantly, given the sanctions on both Iran and Venezuela. For much of the balance of 2019 and 2020, it expects OPEC production to remain under 30 million barrels per day. June was reported at 29.8 mmbd.

OPEC has revised its call (demand) for OPEC oil. For 2020, the average is 29.2 mmbd. Therefore, OPEC must cut supply by another 550,000 b/d from June next year just to balance stocks. Continue reading "World Oil Supply And Price Outlook, July 2019"