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September 26th, 2019
Dear Valued Readers,
The Dow continues to creep up to the all time high of 27,398.68. It closed yesterday at 26,970 up 162.94 points for the day. Are we headed for a break above the all time highs or another 1200+ point dip?
Gold is ranging now being affected by global news items, U.S. Fed speeches, etc... After bottoming at $1484 it climbed back to $1535 this week, then yesterday it dropped about $28 an oz back to $1500 us/oz. Very volatile but traders love volatility. It doesn't matter which way it goes, a short term trader can make money off it. I trade it short term and I'm looking for it to continue to rise longer term.
An election was called in Canada. Mud slinging is going at a record pace. Now if the Conservatives win and build some pipelines, how long will the recovery take for Alberta focused Oil and Gas companies? Could be years but maybe there is some hope?
Want more volatility? Look to U.S. politics: "For the fourth time ever in American history, the House of Representatives has launched an impeachment inquiry into a sitting president." [ Read Impeachment process article. ]
And from Donald J. Trumps Twitter account:
“The Democrats have been talking about Impeaching Donald Trump since before he was inaugurated.” @SteveDoocy @foxandfriends And for no reason other than the great success we are having with the Economy, the Military, Vets, Tax and Regulation Cuts, HealthCare, and so much more!
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Editorial Comments:
Two news releases since I last wrote and the stock is a steady 7 to 7.5 cents.
I'm looking for new 52 week highs maybe in October & we will see what happens as they drill. September 19th: Durango closes 3.3M share private placement.
September 12th: Durango receives final drill permits for Trove.
Auryn Resources ( AUG TSX-Venture ) [ Auryn Web Site ] [ I own some of it, I do not work for them. ] Last newsletter Auryn was at $1.67 doing their "dip" (52 week high is $2.45) . The company announced a $6 Million bridge loan on September 13th and up went the stock. Auryn closed yesterday at $1.81 and is continuing to climb. Hopefully we will see $2+ again soon. I can't wait for drilling to start in Peru! In my opinion, Peru brings massive potential and Major mining companies are watching very closely.
Latest presentation from the Precious Metals Summit that happened:
[ 15 Minute presentation ] [ PDF of the slides ]
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