Wednesday, 30 September 2020

Miners still cooling

The gold miner ETF of GDX ended the month on a moderately weak note, settling -21cents (0.5%) to $39.16, and that made for a net September decline of -$3.11 (7.4%). Despite further cooling, the miners remain long term bullish with Gold and Silver.

GDX, monthly

 


GDX, daily

 


Summary

A second consecutive net monthly decline for the gold miners. The s/t outlook is bearish to the $33s, where the 200dma and monthly 10MA are lurking. More broadly, having already cleared the 2016 high, m/t bullish to 50/52, with secondary target of the 2011 $63s.

Key miners...

Newmont (NEM), monthly

 


A net September decline of -$3.57 (5.3%) to $63.45. S/t bearish with the sector, and I would note the monthly 10MA in the $55s. More broadly, still m/t bullish to giant psy'100.

Barrick Gold (GOLD), monthly

 

A net September decline of -$1.54 (5.2%) to $28.91. S/t bearish with the sector, and I would note the monthly 10MA in the $23s. More broadly, still m/t bullish, with soft target of the $37s. New historic highs >50.11, will arguably require Gold 2400/2500.
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Of the two, yours truly favours GOLD - which it'd seem Buffett/Berkshire would agree with, but both are tier'1 quality miners.    

Friday, 25 September 2020

CRSR - finally listed

Corsair Gaming (CRSR) had its IPO on Wednesday, initial price action has been turbulent, pressured by a rather unstable main market. The stock settled Friday +10.7% to $17.25, 25 cents above the issue price.

CRSR, daily


Summary

Yours truly battles to keep up to date with as much as possible, but Corsair's IPO was one that slipped right past me.

It wasn't until Thursday in AH, that I saw someone post about Corsair's IPO, - via (of all places) the infamous 'Wallstreetbets' of Reddit,

Corsair is a name I've been wondering for some years, whether it would ever get around to becoming listed... and its finally happened!

Yours truly has something of a history with Corsair, as I have been building my own desktop systems since 2000.

In fact, among many other pieces, I've a quintet of products from none other than Corsair...


So, you could say I'm something of a Corsair fan (no pun intended).


What about the company?

Key PDF/ SEC filing...
https://ir.corsair.com/static-files/2a505825-98a7-4c14-8634-fd9b7810aeea

Corporate site: https://ir.corsair.com/investor-relations/

WIKI: https://en.wikipedia.org/wiki/Corsair_Components
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As for the stock itself, I'll be an interested buyer if sp'3100, which seems probable within the near term. 

I could understand if the more cautious would leave Corsair alone, and instead, favour the mid/large tech-hardware stocks, such as NVDA, AMD, or MU.

In any case, you can expect me to regularly highlight CRSR across the weeks and months ahead. It'll be interesting to see if this starts to capture some mainstream attention. 

Yours... bullish RGB (and that isn't a ticker)

Friday, 31 July 2020

Miners powering upward

The gold miner ETF of GDX ended the month on a very positive note, settling +$1.31 (3.1%) to $42.94, and that made for a net July gain of +$6.26 (17.1%). The miners are long term bullish with Gold and Silver.

GDX, monthly



GDX, daily



Summary

A fourth consecutive net monthly gain for the gold miners, with a July high of $44.46 - the highest since Dec'20212. Having already cleared the 2016 high, m/t bullish to 50/52, with secondary target of the 2011 $63s.

Key miners...

Newmont (NEM), monthly


A net July gain of +$7.46 (12.1%) to $69.20, having broken a new historic high of $70.30. M/t bullish to giant psy'100, which is viable before year end.

Barrick Gold (GOLD), monthly


A net July gain of +$1.97 (7.3%) to $28.91, having printed $30.20, the highest since Feb'2013. M/t bullish, with soft target of the $37s. New historic highs >50.11, will arguably require Gold to the 2400/2500 zone.
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Of the two, yours truly favours GOLD, but both are tier'1 quality miners.