Do You Smell the Gold Bottom?

Source: Seeking Alpha, Marc Courtenay (8/20/08)

...Typically, when such a big drop in commodity prices occurs it is the result of forced selling. Too many people who bought gold on margin at higher prices may have been forced to meet margin calls by liquidating their holdings. (We hope you are not one of them, because we certainly don't recommend trading on margin because of the higher risk.) The result is a sharp plunge that makes no sense fundamentally...

...The naysayers and the self-appointed pundits are saying that the goldbugs have bats in their bellfry and that we have entered a bear market for gold and the other precious metals. How do they know?

Are you ready for their number one answer? They've "read the charts" or "gold has broken down below long-term support" on some other chart. My goodness, are they reading palms and tea leaves too?

I don't smell a bear market, I smell manipulators, paper-traders and self-styled gurus trying to tell you and me that they know as much as a crystall-ball gazer...

Now we don't have to be stargazers, rocket scientists or clairvoyants to clearly see that gold has had a significantcorrection. And the fact of the matter is the world that supported gold at $970 hasn't become a safer, friendlier, less inflationary place where the US dollar remains the bastion of safe paper currencies.

On the contrary, the things that usually make gold a safe haven, money-preserving cache are increasing.

Dr. Stephen Leeb wrote the following to those of us who subscribe to The Complete Investor:

So why is it that the best hedge against inflation and other forms of economic turbulence, gold, took a massive dive? Could it be a bear trap?

Typically, when such a big drop in commodity prices occurs it is the result of forced selling. Too many people who bought gold on margin at higher prices may have been forced to meet margin calls by liquidating their holdings. (We hope you are not one of them, because we certainly don't recommend trading on margin because of the higher risk.) The result is a sharp plunge that makes no sense fundamentally...

Plunges caused by forced liquidation don't usually last long, because the fundamentals simply aren't there to justify prices so low. Usually the smart investors, who have cash on hand, recognize the opportunity and pounce on it. For this reason, we expect a rebound will occur fairly quickly. Gold is a compelling buy under $800, with little downside risk and tremendous upside potential...

Align Technology Shares Grind 12.5% Higher after Firm Posts Record Q4 Revenue of $834.5 Million
Source: Streetwise Reports (02/04/2021)

Align Technology shares set a new 52-week high after the company announced financial results that included record FY/20 total revenues of $2.5 billion.

Small-Cap Psychedelic Wellness Company Makes First Acquisition: Ketamine Infusion Centers
Source: Streetwise Reports (02/04/2021)

DELIC aims to become a leader in psychedelic health and wellness clinics.

GW Pharmaceuticals Shares Gain 46% on $7.2 Billion Acquisition by Jazz Pharmaceuticals
Source: Streetwise Reports (02/03/2021)

Shares of GW Pharmaceuticals reached a new 52-week high after the company reported it agreed to be acquired by Jazz Pharmaceuticals in a combination cash and stock deal for $220.00 per share.

Shares of Cassava Sciences traded 207% higher after the firm provided an interim analysis from an ongoing study demonstrating that simufilam improves cognition and behavior in mild-to-moderate Alzheimer's disease patients.

Viela Bio Shares Rise 52% on $3.05 Billion Buyout by Horizon Therapeutics
Source: Streetwise Reports (02/01/2021)

Shares of Viela Bio traded higher after it was announced that the company entered into a definitive agreement to be acquired by Horizon Therapeutics for $53.00 per share.

Algernon Pharmaceuticals, a clinical stage pharmaceutical development company, announced that it has established a clinical research program for the treatment of stroke focused on AP-188 (DMT), a known psychedelic compound. Algernon plans to be the first company globally to pursue DMT for stroke in humans and is planning to begin a clinical trial as soon as possible in 2021.

Novavax Shares Shoot 65% Higher on Phase 3 COVID-19 Vaccine Trial's 89.3% Effectiveness
Source: Streetwise Reports (01/29/2021)

Novavax Inc. shares established a new 52-week high after the firm's COVID-19 vaccine demonstrated an 89.3% efficacy rate in a Phase 3 trial in the U.K. and also showed efficacy against the South African variant in a Phase 2b trial.

Abiomed Shares Gain 8% After Firm Announces Record Q3 Revenue of $232 Million
Source: Streetwise Reports (01/28/2021)

Shares of cardiac medical device maker Abiomed Inc. traded higher after the company reported record revenue for Q3/21 despite the impact from COVID-19.

Sorrento Shares Rise 35% After Firm Posts Positive Data from Phase 1b ICU COVID-19 Trial
Source: Streetwise Reports (01/27/2021)

Shares of Sorrento Therapeutics traded higher after the company released positive preliminary results from it of Phase 1b COVI-MSC™ Study for treatment of hospitalized ICU COVID-19 patients.

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.