In this update…
– Articles & Podcasts
– Sponsor News
– Premium Charts
Articles & Podcasts…
Precious Metals: Todays Similarities with 1976
We see 4 important similarities with 1976. Here are two. In the 1974-1976 bear market, gold stocks declined 67%. Today the HUI is down 66%. Gold stocks against the S&P 500 declined 76% from 1974-1976. Today? 77%.
Podcast: Tiho Brkan’s Thoughts on Gold, Silver & Gold Stocks
A 22 minute interview. I think this is one of the Tiho’s best.
Podcast: TDG Interviewed by Palisade Radio
We give our thoughts on precious metals, the S&P 500 and other things.
Insights from Canaacord’s 2013 Global Resources Conference
Great coverage from CEO.ca. Some important information.
Podcast: Balmoral Resources Update
The company has completed 90% of the financing and figures to have ~$12.3M in working capital and $10.6M in cash at year-end. It also has the high-grade oz acquirers seek and is located in a premier jurisdiction. When we had the summer rally for two months, BAR shares gained 100%. Founder & CEO Darin Wagner gives us an update and provides some thoughts on the status of M&A in the mining industry.
First Majestic Silver Produces new Quarterly Record of 3.37M oz Ag-eq
How many companies are producing quarterly records at this point? With its largest mine ramping up in 2013-2014, FM is well-positioned for a recovery in Silver.
Argonaut Gold Produces 26.7K oz Au
Argonaut’s production was slightly lower than expected as the company has yet to get the higher-grade portions of the La Colorada pit. This should be a temporary issue as they expect to hit their production guidance for the full year.
The picture below is from the Merrill Lynch monthly fund manager survey. Look at how under-owned commodities, emerging markets and materials and energy are!
The cyclical bull market is starting to reach the speculative phase. Consumer discretionary stocks have gone parabolic. Biotechs have surged. Small and mid caps have led large caps. Social media companies Facebook and LinkedIn are trading at 70x and 160x 2013 earnings. Yes, not trailing earnings but estimated earnings for 2013. Amazon is trading 114x….2014 earnings!
The Russell 2000 is trading at 86x trailing earnings. The Nasdaq is trading at 21x trailing earnings. Without a doubt, this is not what the start of a secular bull market looks like. Oh and its on the back of 1% GDP growth and barely any earnings growth over the past few years.
Take a look at the chart below. We are seeing warning signs from some of the breadth indicators at the top. However, note the recent price action of the past six months. If the market accelerates above this channel then it could mark the final parabolic move of the cyclical bull market…..just as the precious metals bull market re-emerges.
Premium Service Notes:
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Reports on our 5 favorite GOPs, all in one file
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This update examines the outlook for Equities, Commodities, Bonds and Emerging Markets. For the average investor I think this is our most invaluable piece of work (and I intended it to be).
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Disclaimer: Sponsor Companies are paid sponsor companies of TheDailyGold.com website and this free newsletter. Do not construe sponsorship with a recommendation. The author of this newsletter is not a registered investment advisor. This newsletter is intended for informational and educational purposes only and should not be considered personalized and individualized investment advice. Investment in the precious metals sector contains significant risks. You should consult with an investment advisor and due your own due diligence. This email may contain certain forward looking statements which are subject to risks, uncertainties and a multitude of factors that can cause results and outcomes to differ materially from those discussed herein.