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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (154448)	3/16/2020 1:45:22 AM
From: sense	1 Recommendation Recommended By Dr. Voodoo Read Replies (1) \| Respond to of 217909

What I had noted recently about the gold trade, in the shares, not metals... was that it clearly wasn't a trade being driven by an "equal opportunity" connection to the metals. It wasn't even similar among established producers, but was clearly disproportionate in support of those well established companies that had a solid divvie... not a particularly exciting yield... but increasingly attractive as yields in everything else were falling. I still don't think that was actual evidence of any growing "excitement" about gold... but only recognition that those shares offered a viable value... because a solid yield... and upside potential in both the share prices and the distributions... if the price of the metal were to move higher... Problematic for individual investors to sort through the many "potentials"... but the royalty companies give you professional portfolio management essentially for free... And why they are being hammered now ? Counter-intuitive to me... save that gold mining company shares are increasing in value relative to the royalty companies now... only because oil cratering lowers their costs... while the royalty will mostly stay the same independent of the producers declining costs. I don't think there's any evidence of that being a market driver now, though. Gold shares just along for the ride with the rest of the markets ? Metals subject to the same selling drivers as other collateral ? Will be interesting to see how the metals and PM miners shares, the royalty companies, respond to the removal of "collateral risk" forcing liquidations. Removing the reserve requirements for the banks will end the carnage driven by the need for the re-collateralization of losing positions ? Will that alter the "tilt" of the trade over the next few days ? I still think that focus on yield is a very viable focus during this period... only more now at a lower price... still not requiring you to be a gold bug... but... royalty companies presented in my order of preference (arranged in order prior to my figuring out the ATR thing, which makes that interesting to look at). There is a long history of higher upside, greater growth in the distributions, in the cheaper/newer companies as their newer properties progress... as the cycle progresses... and they mature. SAND (ATR 0.700), OR (ATR 1.023), ELYGF (ATR 0.098), MTA (ATR 0.778), WPM (ATR 3.666), RGLD (ATR 10.759), FNV (ATR 12.421) Just one chart... they all look about the same, only the smaller ones down more:

To: TobagoJack who wrote (154448)	3/16/2020 2:23:39 AM
From: sense	Respond to of 217909

I think it is worth taking note for that fact alone... They got off their asses and did something... before they were expected to do it... Probably gives a sense of their urgency... I imagine there's a lot of disappointment and worried expressions that "it didn't take"... but, remember Friday... also started out questionably. Given all the "team spirit" we suddenly see today, after the debacle in failed coordination last week... there's also probably some coordinated market action coming... which they'll probably not admit to... while making sure you know it, after the fact ? Time frame would be... after New York opens 9:30 EST...and before London closes, including the Post Close from 4:40 PM to 5:15 PM ? A four hour difference... five for western Europe... six for the east... Means most likely to happen between 9:30 and 12:30 (or 1:15pm) in New York... but shave an hour off the backside for every time zone you include... narrows it to 9:30 to 10:30 EST ? Watch Europe as it gets closer to the open in NY... We're going to find out how "Tag Team" trading arranged by the cabal of governments (and/or Central Banks ? Not all the clear yet who is doing what. ) working against you... while they're trying to turn a profit on their asset purchases... is likely to work out ? Don't expect them to be brilliant at it... but don't expect to beat them with market power, rather than smarts and being nimble enough to stay out of their way ?