Wealth Creation Through Natural Resources
Wednesday morning we highlighted mega uranium producer Cameco (CCJ, CCO.TO) and the potential for multiple chart pattern breakouts along with improving fundamentals. Since then Cameco shares have rallied ~10% and broken out above a 13-month downtrend line while completing a rounding … Continued
When David Einhorn speaks, I listen: “Bottom-up: Short candidates are easy to find, but as noted above, the opportunity set on the long side is quite constrained. Most of the investment theses we have reviewed over the past several months … Continued
After enjoying a meteoric rise between 2002 and 2007 Cameco (CCJ) has endured an extremely challenging few years since the Fukishima disaster in March 2011: Technically speaking, there are a lot of positive developments in the CCJ chart including … Continued
The recent outperformance of the gold miners (GDX) relative to gold itself has been quite striking: My primary takeaways/interpretations of this recent outperformance are as follows: Investors are betting that gold is at the end of a cyclical bear … Continued
I came across two powerful China charts from J.P.Morgan this weekend: During the last decade the correlation between Chinese monetary conditions/nominal GDP growth and commodities is almost uncanny; the CRB bottomed at the exact month that China monetary conditions bottomed … Continued
OPEC crude oil production surged by roughly 1 million barrels per day in March after consecutive months of decline: Meanwhile, there is some question about US production declines as the data doesn’t paint an entirely clear picture. Production is … Continued
Weekend Commodity Chart Wrap 4/18/2015… Gold with realized volatility (top) and implied volatility (bottom) Both realized and implied gold volatility have been in decline since the beginning of the year. The GVZ (CBOE Gold Volatility Index) is currently pricing … Continued
Which of these 5 charts doesn’t fit with the others?… Bloomberg Economic US Surprise Index Yardeni Global Growth Barometer & S&P 500 Monthly Core Retail Sales S&P 500 US Inflation Rate What do you guys … Continued
GDX is on the brink of one of most anticipated “breakouts” we’ve seen in quite a while: There is a lot going on in the above chart and the situation is by no means clear. Here is some of … Continued
After a parabolic rally (sell-off in the Canadian dollar) to begin the year, the USD/CAD has been working on putting in a top for the past couple of months: The key level to watch here is 1.2380 – a … Continued