Check the BMR comments section throughout the day for updates and helpful information.
1. Gold has hit a new 3-month high as it begins the new year on a robust note, building on gains during the last half of December…as of 7:00 am Pacific, Gold is up $9 an ounce at $1,312…shorts are likely getting a little nervous…Silver has added 20 cents to $17.10…Copper is steady at $3.25…Nickel slipped as low as $5.54 but has since bounced back and is now up 2 pennies at $5.69…this could be a spectacular year for Nickel after an important turnaround in the metal during the 2nd half of 2017…Zinc is approaching a new 10+ year high, up 2 cents at $1.52…Zinc imports by China, the world’s largest consumer of the metal, jumped above 573,000 tonnes in the first 11 months of last year, up 43% from the same period in 2017…meanwhile, China’s war on smog reduced local output of Zinc last year and is expected to again cut supplies in 2018…Crude Oil flat at $60.40 while the U.S. Dollar Index has fallen one-quarter of a point to 91.99…
2. Gold has started 2018 with its highest January opening since 2013…this is also only the 4th time ever that Gold has opened the year above $1,300…the yield curve, the spread between 10-year bond yields and 2-year bond yields, ended 2017 near multi-year lows, providing support to bullion as a non-yielding asset…meanwhile, India’s Gold imports surged 67% in 2017 from the previous year to 855 tonnes as jewelers replenished inventory amid a rebound in retail demand, according to GFMS…December imports stood at 70 tonnes, up 40% from a year ago…imports in the final quarter of 2016 were hit hard by Prime Minister Modi’s war on cash, but jewelers and dealers gradually started restocking bullion early last year…
3. A survey focused on small and mid-size businesses in China beat expectations today, reaching a 4-month high as the Caixin/Markit manufacturing PMI for December came in at 51.5…despite concerns about debt and a property bubble, China’s economic data showed robust growth in 2017 due in part to government spending on infrastructure and a pick-up in the overall global macroeconomic environment…China is targeting 6.5% growth in 2018 which would bode well for the commodity complex…
4. California has launched the world’s largest regulated commercial market for recreational marijuana, effective yesterday as it became the 6th U.S. state, and by far the most populous, venturing beyond legalized medical marijuana to permit the sale of cannabis products of all types to customers at least 21 years old…more than 1 in 5 Americans now live in states where recreational marijuana is legal for purchase, even though cannabis remains classified as an illegal narcotic under U.S. law…the marijuana market in California alone is valued by most experts at several billion dollars annually and is expected to generate at least a $1 billion a year in tax revenue…
5. Oil prices ended 2017 above $60 a barrel on Friday, a milestone not seen in more than 2 years, in another sign that a longstanding global glut is easing…inventory trends remain very encouraging which helps explain the fact that net bullish bets by speculative investors remain near all-time highs…last Thursday the Energy Information Administration (EIA) reported that U.S. Crude stockpiles fell for the 6th straight week to their lowest level since October 2015 for the period ended December 22…refiners have helped chip away at excess Crude supply by turning it into products such as gasoline and diesel, and fuel consumption is on the rise given frigid temperatures across much of the nation…the EIA anticipates that U.S. output in 2018 will eclipse the record of 9.6 million barrels a day set in 1970, though production saw its first weekly drop since October…meanwhile, unrest in Iran to begin 2018 is viewed bullishly by traders and highlights how investors will have to keep a close eye on geopolitical developments in 2018 and how they may impact Crude prices…
6. The Dow is off to a flying start in 2018, up 106 points through the first 30 minutes of trading…the Dow soared 25% in 2017, a little less than the NASDAQ (28%) but better than the S&P 500 (19%)…the TSX closed the year up only 6% while the Venture enjoyed a 12% gain…as of 7:00 am Pacific on the first day of 2018 trading, the TSX is up slightly while the Venture has added 7 points to 858…technically, the Venture hasn’t shown this kind of momentum since 2016…the first key breakout just recently was above the 2017 downtrend line on the 2-year weekly chart…the Index is now threatening to confirm a second key breakout, through the 2016 and 2017 highs at 850…the significance of the Venture’s strong December cannot be underestimated as what this is leading to is the 3rd major defining moment in Venture trading going back to the fall of 2014…Datametrex AI (DM, TSX-V) has appointed internationally recognized fintech, insurtech and artificial intelligence (AI) influencer and venture capitalist Spiros Margaris to its advisory board. “We are thrilled to have Spiros join our advisory board and to be able to tap into his vast knowledge base, contact base and international following. He is world renowned as an expert in the key areas that Datametrex is focused, making his appointment strategic to the company’s growth,” stated Andrew Ryu, Chairman and CEO of the Datametrex…Wolfden Resources (WLF, TSX-V) announced the appointment this morning of Ron Little as a lead director of the company…Little was the founder of Orezone Resources, a company that went on to develop the largest Gold mine in Burkina Faso that was taken over in a deal worth $350 million by Iamgold in 2008…
7. The hottest digital coin as 2018 kicks off is “Stellar” which has climbed more than 65% since Friday into the Top 10 List of largest cryptocurrencies by market capitalization…by this morning, Stellar had a market cap of $10 billion as the 8th largest digital currency, according to CoinMarketCap…Stellar operates a network with the blockchain technology behind Bitcoin…unlike Bitcoin, however, Stellar’s transactions settle in 2 to 5 seconds and the cryptocurrency allows users to quickly exchange government-backed currencies, such as turning U.S. dollars into euros…Stellar’s coins are officially called lumens, or XLM…it’ll be fascinating to see what 2018 brings in the cryptocurrency space…
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“the marijuana market in California alone is valued by most experts at several billion dollars annually and is expected to generate at least a $1 billion a year in tax revenue…”
California’s economy is about the same size as Canada’s I think. If they think they will sell a few billion of weed, then CAN could assume similar #’s, which would suggest pot producer stocks may be under or over valued right now?
Comment by david — January 2, 2018 @ 9:08 am
Fnc.v breakout! Their Magpie proprietary process will launch this thing. A 10 million dollar plant completely funded by the federal government and partners. To be running by end of April 2018. This process basically turn slag into a pure tio2 product. Fan Camp also has 10 million shares in Champion iron mines who will be starting up Bloom Lake in March of 2018. Do the math and you are due diligence
Comment by Tony t — January 2, 2018 @ 11:45 am
I would like to say that since I have taken a position in v.AIS, I am very impressed with the coverage by BMR. The videos with AIS President and CEO Marc Enright-Morin were outstanding! I am extremely excited with respect to the potential of this company. The management (and very talented team) will (no doubt) unlock the tremendous lithium assets they have and maximize shareholder value.
Comment by Raffi14 — January 2, 2018 @ 1:37 pm
Hey Jon, just curious, do you invest in any cryptos?
Comment by flyinthruu — January 2, 2018 @ 1:50 pm
BMR……Are you still covering FTEC? You havn’t mentioned it for quite a while. Is it just consolidating or has the flame burnt out on this one.
Comment by dgambler — January 2, 2018 @ 2:36 pm
Of course we’re continuing to follow it, dgambler…FTEC has backed off but hovering near strong support.
Comment by Jon - BMR — January 2, 2018 @ 4:48 pm
Dgambler…. FTEC is currently my largest holding. I am expecting big things from that stock in the next 1-2 months.
Comment by Raffi14 — January 2, 2018 @ 5:16 pm
Thanks BMR.
Comment by dgambler — January 2, 2018 @ 5:44 pm
DM has some ridiculous confluence at 44 cents. Any thoughts to that situation if we close above it? They sure know how to keep the news flow going. Wish some of the mining companies would take a que.
Comment by Shaun — January 2, 2018 @ 5:45 pm
Hi Jon, any thoughts why Savage dumped 100k shares of CLM? Maybe he’s fine with a five-bagger?
Comment by Shaun — January 2, 2018 @ 7:10 pm
Jon:
Insiders selling CSR?
Any thoughts?
So many positives why sell?
Ok what am I missing?
Thank you.
Comment by GoldenFalcons — January 2, 2018 @ 10:01 pm
Hey Dgambler, a word of advice . Diversify.
Comment by donald — January 3, 2018 @ 4:47 am
GoldenFalcons, it’s totally inconsequential to me that a Tom Devlin would sell $30,000 worth of CSR, just like it was totally inconsequential that a couple of GGI directors sold some stock between 40 and 50 cents last summer. Means nothing, other than the fact Devlin may not understand the markets very well (he’s an accountant) or perhaps he needed the extra cash for Christmas. Experienced successful investors know how to interpret that. I’d attach a lot more importance to BMR Daniel adding CSR to his portfolio yesterday.
Comment by Jon - BMR — January 3, 2018 @ 4:49 am
Shaun, Savage was actually a bet buyer of CLM to the tune of 200,000 shares in December. The fact he sold a portion of what he bought Dec. 20 may have been to help provide liquidity and position someone else, who knows.
Comment by Jon - BMR — January 3, 2018 @ 4:52 am
Ok, thanks Jon. Still learning the systems. Guess I missed it! I owe you a beer or two.
Comment by Shaun — January 3, 2018 @ 4:55 am
Pot stocks are soaring! I sold my NAC I’m wondering if BMR recommends buying it back or if they are bringing another pot play to the table? Thanks in advance
Comment by Gregory — January 3, 2018 @ 6:00 am
We initially pointed out NAC, Gregory, when it was trading below 30 cents…it quickly raced to the low 70’s where it met some resistance as expected, and some subscribers undoubtedly elected to take some profits off the table…however, on Dec. 3 we stated, “Outlook going into 2018 is very favorable, technically and fundamentally, so any pullback to that 40-cent (support) area would be excellent re-entry point for subscribers who may have taken profits at higher levels.” NAC did test that 40-cent level and has since pushed higher…
Comment by Jon - BMR — January 3, 2018 @ 6:11 am
Jon, do you still think DM is a good bet to move higher from here?
Comment by Dan1 — January 3, 2018 @ 6:37 am
Continues to look strong, Dan1.
Comment by Jon - BMR — January 3, 2018 @ 6:47 am
the venture strength is un real!!!!!! there will be some chasers…. giddyup time..
Comment by Jeremy — January 3, 2018 @ 6:48 am
Jon:
CSR has been suggested for some time.
I have asked many questions and your support for the company has been unwavering.
I will continue to ask questions as it’s part of the learning process.
Thank you for the explanations much appreciated.
Comment by GoldenFalcons — January 3, 2018 @ 7:01 am
BLO on fire this morning, AIS showing fresh strength as well as it closes in on new high…
Comment by Jon - BMR — January 3, 2018 @ 7:24 am
Nice to see a re-awakening on the CYX …. also nice looking Market on AIS ….. Farmer Tom
Comment by farmer — January 3, 2018 @ 7:32 am
Jon .. re BLO… any targets????? do you think this is a 20 dollar stock when the device is released????
Comment by Jeremy — January 3, 2018 @ 7:33 am
Technical issues with TMX this morning?
Comment by DavidW — January 3, 2018 @ 7:35 am
I jumped back in on CYX at 28.5, farmer…like DM it continues to look strong as it comes out of a consolidation…
Comment by Jon - BMR — January 3, 2018 @ 7:58 am
I had the pleasure of spending some time with Rav at the Canucks’ game last night, Jeremy…he’s a class act…the way the whole marijuana thing is expanding throughout North America, the opportunity and potential for BLO is probably greater than what even Rav had contemplated when BLO and the marijuana breathalyzer concept was launched in 2014…in my view, looking out over the next year or two, the sky’s the limit on where this could go, so I would not doubt your prediction…BLO is truly in the driver’s seat on this technology…
Comment by Jon - BMR — January 3, 2018 @ 8:03 am
Thx Jon… much appreciated… looks like with the venture doing what its doing the next 3 months are gonna be gangbusters….. come on that rising tide:)
Comment by Jeremy — January 3, 2018 @ 8:08 am
Hi Jon
Any comments from Rav on blos sister company breathtec? Bth
Comment by Matt — January 3, 2018 @ 8:11 am
Jon, do you think BLO will get a correction close to EMA or is this industry just too hot right now?
Comment by flyinthruu — January 3, 2018 @ 8:26 am
Any thoughts on CHV?
Comment by flyinthruu — January 3, 2018 @ 8:27 am
No, Matt, other than the chart looks good on that one…Rav’s TPS (Torino) is picking up steam and recently hit a new high…I hold some TPS but not BTH…
Comment by Jon - BMR — January 3, 2018 @ 8:47 am
It’s quite possible, flyinthru…there is Fib. resistance at $3.16 so I would expect that to be tested near-term as either potential new support or continued resistance…
Comment by Jon - BMR — January 3, 2018 @ 8:49 am
Thanks Jon
Waiting on news for a new CEO at breathtec then it should be off to the races. Same technology as blo through dr yost just focused on medical side. Market cap 14m vs blo at 350m
Comment by Matt — January 3, 2018 @ 8:59 am
ANX Anaconda Mining Interview
https://ceo.ca/@newton/the-unknown-geologist-introduces-bob-moriarty-to-the-goldoboro-project-anx
Comment by KD Dougan — January 3, 2018 @ 11:11 am
400+ Million shares? Wow. Shouldn’t they be on the ASX?
Comment by flyinthruu — January 3, 2018 @ 11:22 am
a 4/1 rollback soon check back with me in a month 🙂 this stock is a winner
Comment by KD Dougan — January 3, 2018 @ 12:29 pm
Jon,
Anything on the horizon for WHM? Thanks.
Comment by large — January 3, 2018 @ 12:30 pm