USD dollar index is up 0.17% to 109.130 this morning with the 10-year yield down 0.85% to 4.567% and the 30-year yield down 0.78% to 4.807%.
Gold (-0.28%), silver (-1.628%), copper (-1.62%), and oil (-1.37%) down $0.71 to $78.00/bbl are all lower.
Stock index futures are higher, with the DJIA (+0.57%) down 246, the S&P 500 (+0.65%) up 38.6 points, and the NASDAQ (+0.74%) up 156 points.
Risk barometer Bitcoin (+3.15%) is up $3,131 to $102,480.
US Stocks
Unsurprisingly, stocks have caught a strong bid this morning in advance of Monday's Inauguration Day ceremonies and the MLK holiday.
Stock futures at 8:33 a.m. are ahead sharply, taking the VIX:US down to 15.80, which is near six full points from where it was on Monday. I refrained from adding any volatility this week as stated in Monday's Email Alert:
"To repeat: Do not add to UVIX:US or the VIX:US calls unless the SPY:US is under the 100-dma at $578.48 after 3:00 pm Whipsaw potential is very high."
It was (and is) my thinking that the narcissistic characteristics in Trump will want a surging stock market in advance of his inauguration, and I have no doubt that phone calls were made in that regard.
FCX:US
- Bought 1,000 FCX at $40.00. New adjusted cost is 3,000 shares at $37.77.
- Bought 50% position (50 contracts) FCX March $40 calls at $2.50
I usually refrain from buying anything on a Friday, so I will wait until Tuesday to add the other half.
GLD:US
I was unable to buy the position in GLD:US, so I will re-enter the order on Tuesday.
- BUY full position GLD March $250 calls at $7.00 on Tuesday a.m.
GTCH/GGLDF
Getchell Gold Corp. (GTCH:CSE; GGLDF:OTCQB) is finally gaining traction as investor look soberly at the 2.317-million-ounce gold asset in the highly-favourable jurisdiction of Nevada, especially in light of Barrick Gold Corp.'s (ABX:TSX; GOLD:NYSE) unfortunate (and very costly) loss of $250 million worth of gold confiscated by the Mali army over a dispute over taxes.
Barrick has since ceased all operations at the site putting a major dent (13%) in their earnings outlook.
As I have repeatedly stated, these junior gold miners and explorers operating in safe countries that have respect for Rule of Law are going to carry a large premium when the M & A cycle resumes which I fully expect in 2025.
Getchell Gold Corp. is a perfect candidate with Fondaway Canyon wide open along strike and to depth to further enhancements of their sizable resource.
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Important Disclosures:
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- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Getchell Gold Corp. and Barrick Gold Corp.
- Michael Ballanger: I, or members of my immediate household or family, own securities of: All. My company has a financial relationship with Getchell Gold Corp. I determined which companies would be included in this article based on my research and understanding of the sector.
- Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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Michael Ballanger Disclosures
This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.
