The Lunatic Fringe - Market and Trade Chat

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

gold miners just keep sliding.
FOMC meeting tomorrow should be interesting. Gold miners in a support zone. Silver has been freefalling and due for atleast a bounce
Fed supposedly going to set a hawkish stance tomorrow. Sell the rumor, buy the news?
 
Is there ever a FED day where they let it go up? Perhaps, but they are just trapping people to hit it the next couple days.
 

CEOs of the Nation's Biggest Banks Warn That New Regulations Could Harm the Economy​

The heads of Wall Street’s biggest banks used an appearance on Capitol Hill to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated, warning that the proposals could negatively impact the economy at a time of geopolitical turmoil and inflation
By Associated Press
Dec. 6, 2023

 
This I can understand. Thing is everyone was using CC to pay for living expenses...

Gas at the pump is down around $2.50/gallon (hey, it's Christmas consumption time!) giving folks a jingle in their pocket.

CC bills always come after the 1st of the year....

This 'hard landing' is baked in the cake IMO.
 
Lancers32 said:
I thought you have said that this is not true Silver pricing but paper manipulation. Which is it?
Click to expand...

This isn't a real market right now. But that doesn't mean some people are not selling silver for these prices and getting absolutely stolen from as a result.
 
Last edited:
Some evidence. The economy is crashing into deflation right now. Nothing is selling, except stocks. But those are just priced by some VIRT computers anyway to whatever they want.

 
Keeping it real… The charts are looking somewhat ugly for the metals and miners. They need to turn around here or risk a deeper and longer pullback. Preferably a strong move higher by the end of the week.
 
JPow on deck tomorrow to sink or launch everything. If he talks tough/hawkish (no cuts, maybe a hike), metals are likely sunk. If he says they are a good spot (with rates), it's likely neutral to markets. If he says the train is back on track and rate cuts are on the horizon, metals likely launch.
 
That was powerful, we blew through that Important level going both ways. But the banks also soared today so I think we need a couple days to see which side really has the staying power. I think you all know which side I'm on.
 
EXK email I just got.

Dear Stakeholders,

We are writing to inform you of an important development regarding our company's stock, as we are receiving many questions regarding the performance and volume levels over the last few weeks.

We have been monitoring our market, as we received notification that our shares will be removed from the S&P/TSX Composite, effective after market close on Friday December 15th, as per its quarterly rebalance, measured, and announced in mid-November. The estimated outflow is approximately 8 million shares, on the TSX exchange. Additionally, the NYSE Arca Gold Miners Index (GDX ETF) announced its quarterly date of record on Friday December 8th that we were listed as an expected deletion as the Company’s market capitalization was below the US$450 million requirement level. The estimated outflow is approximately 11 million shares, on the NYSE, also effective after market close on Friday December 15th, 2023. While this news may be disappointing, we want to provide you with clear and transparent communication about these events.

As a reminder, the decision to remove our shares from these indices is predominantly based on market capitalization levels and trading volume criteria set by the index provider, not company fundamentals. Indexer trading patterns have little to do with market sentiment and are driven primarily by quantitative analysis. Deletion from indices can have a negative temporary impact on share price as this is a widely public and broadcasted event whereby certain investors and funds will position themselves ahead of the rebalance.

It's important to note that being removed from an index does not change the fundamental strength of our company. We continue to focus on our business strategies and growth initiatives to enhance shareholder value. Our team is dedicated to navigating the evolving market dynamics and ensuring the resilience of our business. Due to the cyclicality of our industry, this the second time that we have been added and removed from these indexes. As a management team, it is our job to execute on Terronera and hopefully get back into the Indexes in due course.

We encourage you to reach out with any questions you may have or to seek further clarification on this matter. We appreciate your ongoing support and trust in Endeavour Silver.
 
Cigarlover said:
We are writing to inform you of an important development regarding our company's stock, as we are receiving many questions regarding the performance and volume levels over the last few weeks.
Click to expand...
Volume going up up up and they're pulling the plug?
 
Goldhedge said:
Volume going up up up and they're pulling the plug?
Click to expand...
Being forced out of the indexes because of market cap. Under 450 mil and they are out. I think they are down around 410 or so IIRC.
For me nothing changes. I have been buying based on the new project coming on line 4th quarter of next year. I expect to see improvement and a nice return on investment in 2025 and beyond. This will coincide with higher metals prices as well which will add to the pop we should see at that time. For now I am just holding. I'll buy more if it drops below 1.50.
 
Just more cheap shares to accumulate now. It will still be in some like GDXJ and SILJ etc. They will get back into those larger ones soon enough.

Also, that GDX news seems like complete Bullshit. GDX holds all kinds of MUCH smaller companies. Just a snipit.
RMS AURamelius Resources Ltd0.53BBG000PMB29762,239,350Stock63,953,189--
OGC CNOceanagold Corp0.53BBG000RG1PM339,799,522Stock63,491,978--
GMD AUGenesis Minerals Ltd0.52BBG000J9HXY158,378,691Stock63,101,483--
CMM AUCapricorn Metals Ltd
 
Last edited:
I have to assume the news is true since the email came from EXK. I sign up for email updates on all the miners I hold. I agree though, this will get resisted soon enough. probably by end of the next year and when it gets resisted it will also get bought up.
 
There is some confusion here. .NYSE Arca Gold Miners Index (GDX ETF). That seems to be a mix of 2 different things. I do know that the naked shorters have used ETF's as one way to hide and supplement their misdeeds. Much like they use GLD and SLV.

The VanEck ETF - GDX and
I did find a NYSE Arca Gold Miners Index - GDM (perhaps its different in Canada)
 
Gold prices are trading at session lows against the British pound after the Bank of England left interest rates unchanged and signalled that it doesn’t expect to cut rates until the second half of next year.
...
Click to expand...

Spot gold struggling against the British pound as BoE keeps rates unchanged remains focused on fighting inflation

(Kitco News) - Gold prices are trading at session lows against the British pound after the Bank of England left interest rates unchanged and signalled that it doesn’t expect to cut rates until the second half of next year.
www.kitco.com

JPow and BoE said essentially the same thing, but JPow said it nicer.
 
What would really be cool is to have a day where no market manipulations would take place....

 
Some ugly looking candlestick today in the mining shares. Rally followed by a sell-off. Someone's not buying this.
 
My only concern with the metals right now is that they are only moving higher in the USD. The past few days they haven't moved much in Aussie $ and Euro's. I'd really like to see worldwide movement higher in the metals to have more faith in this bounce.
 
The Dollar's exhorbitant privilege means the rest of the world has to deal with stronger inflation than the USA. The BoE and ECB are still talking hawkish on policy so Euro trading in metals doesn't yet see the same green light that JPow gave American traders.
 

Chaotic 'triple witching' set for Friday, as $5.3 trillion in options expire

Options contracts tied to more than $5 trillion worth of stocks, exchange-traded funds and indexes are set to expire on Friday as the latest "triple...
www.marketwatch.com
 
CDE Triple Bottom on the Yearly Chart. This pos stock did 8 times in 2016. It along with Hecla seem to attract money when the sector gets hot.


 

pmbug said:
Unsourced, baseless social media shit flinging IMO.
Click to expand...

8 hours past the expiry deadline and bank credit cards are still working.
 
You must log in or register to reply here.
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more…