April 4, 2023 | AG, Daily JAM, GDX, GLD, GOLD, Jubak Picks, Perfect Five-ETFs, Volatility |
Gold for June delivery closed at 2039.00 an ounce on the Comex today. That’s not too far away from the all-time record high of $2,070 an ounce. The move above $2,000 an ounce and any breach of the record at $2070 could trigger a rally as traders short gold buy to cover positions. That could well be true, but I’d note that this forecast of a gold rally is coming from traders long gold who are trying to talk a rally into being.
July 28, 2022 | AG, Daily JAM, Volatility |
My one-hundred-and-sixty-first YouTube video “Quick Pick First Majestic Silver” went up today. This hasn’t been a great year for precious metals hedges. However, allow me to make the case for First Majestic Silver (AG), given the coming recession and my expectations for the Fed’s schedule of rate increases. A hedge for 2023? At the current price, it’s an attractive bit of insurance against a big surge in risk.
February 2, 2021 | Daily JAM, Morning Briefing, Short Term |
As of 3:15 p.m. today, February 2, in New York, shares of GameStop (GME)were down 56.22% to $98.50. That a big drop from the January 27 closing high of $347.51, but it’s still significantly above the $17.25 price on January 4. Other stocks that have ridden the Reddit WallStreetBets fever for short squeeze horses are down today too. AMC (AMC) is off 39.70% to $8.02. First Majestic Silver (AG), the big silver play of the last few days, has given up 24.28% to $16.75. Bed Bath & Beyond (BBBY) is off 14.64% to $25.77. American Airlines (AAL), an early short squeeze play, slipped 1.16% to $17.65. The only potential short squeeze bet (if it was, that is) that’s still climbing is vaccine pill biotech Vaxart (VXRT), which was up 34.30% at 3:15 and looks to be riding momentum into the close. (The shares were up 54.43% as of 3:40 p.m.) Vaxart does bring this question to mind: So if the money is coming out of GameStop, etc., where is it going?
February 1, 2021 | AG, Daily JAM, DNMR, Jubak Picks, Millennial, Morning Briefing, Short Term, VXRT, You Might Have Missed |
I looked at my Jubak Picks Portfolio with more than a tinge of seller’s remorse this morning. I sold shares of First Majestic Silver (AG) out of that portfolio on Friday, January 29, after the stock rose 21.38% on Thursday. That gave me a gain of 45.52% since I began this position on July 6, 2019.I argued in justification for this sell that the attempt by individual investors on Reddit’s WallStreetBets forum to force a short squeeze in silver, as they had in GameStop (GME), were likely to fail because there was such a big stockpile of physical silver ready to enter the market. So I took my profit. Only to have the stock climb an other 21.3% today, February 1, as of 2:30 p.m. New York time as individual investors did indeed drive up the price of silver futures. The Shares Silver Trust (SLV) was up 6.40% as of 2:30 New York time today as the intraday price of silver limbed to the highest level since 2013. And then I thought about that seller’s remorse.
January 28, 2021 | AG, Daily JAM, Jubak Picks |
Shares of First Majestic Silver (AG) climbed 21.38% yesterday, January 28, as silver futures climbed on a post on Reddit suggesting profit from a short squeeze on silver. “Any short squeeze in silver paper shorts would be EPIC,” a post on Reddit’s WallStreetBets forum said. “Why not squeeze SLV to real physical price,” the poster said referring to the iShares Silver Trust ETF (SLV). That ETF closed up 5.55% on Thursday. Now I understand the attraction of anything that can be touted as a potential for a short squeeze like that which has driven the shares of GameStop (GME) up 928% for 2021 as of the close on January 28, and 1538% in the last three months. But silver the commodity is actually very different from a stock and a short-squeeze looks very difficult to execute in silver.
August 5, 2020 | AG, Daily JAM, GDX, GLD, GOLD, Jubak Picks |
We've been here before. With gold and silver we're at that stage in a huge rally where Wall Street analysts rush to increase their target prices in order to keep ahead of the market and where the number of posts urging investors to get in now--And here's...
January 29, 2020 | AG, Daily JAM, GLD, GOLD, Perfect Five-ETFs, Volatility |
Gold held by ETFs (exchange-traded funds) hit the highest level in seven years on Tuesday as investors and traders piled into the traditional hedge against uncertainty and stock market volatility. Worldwide gold holdings in ETFs rose to 2,561.2 tons as of Tuesday, the...
October 16, 2019 | Daily JAM, Morning Briefing, Short Term |
It would be an overstatement, in my opinion, to say the market is trendless. I think there's a definite and but unspectacular bias to the upside in the short-term--four weeks, say. It would be accurate, however, to say, there's not much conviction to that trend. So...
August 14, 2019 | Daily JAM, GDX, IEF, Mid Term |
Last night I added Step #1 to my Special Report 5 Is Your Portfolio Ready for the Next Big? The post below is a cut and paste of the material I added to the Special Report. I'm posting it separately here to make it a bit more accessible. In my macro picture, I wrote,...
August 6, 2019 | Daily JAM, Special Reports |
Is a Recession coming? I don't mean "someday." Someday the sun will go nova but I don't need to price that in to my investment strategy. But a Recession in 2020 or 2021? That's something to take into account. And to prepare for to the degree possible. Or a Credit...
July 29, 2019 | Daily JAM, Morning Briefing |
We don't know--precisely--what the Federal Reserve will do at the meeting of its interest-rating-setting Open Market Committee on Wednesday July 31. The odds on the CME FedWatch Tool say there's a 100% chance of an interest rate cut but there's still disagreement...
July 25, 2019 | AG, Daily JAM, Stock Alerts |
Way back last Friday, July 19, in my Friday Trick or Trend post on JubakAM.com, I argued for adding silver to a portfolio because 1) it is a good hedge for portfolios in the second half of 2019, and because 2) silver, after lagging gold for the first half of 2019 ,...