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Last Week’s TSX/V Notable Mining Stocks

Canadian National Railway Company (T.CNR) hit a new 52-week high of $17.78 on Tuesday. Long-term shareholder TCI Fund Management Limited announces it has…

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Canadian National Railway Company (T.CNR) hit a new 52-week high of $17.78 on Tuesday. Long-term shareholder TCI Fund Management Limited announces it has retained Kingsdale Advisors, North America's leading strategic shareholder advisory and communications firm, to act as its strategic advisor and engage with Canadian National Railway's shareholders to achieve TCI's objectives of halting CN's pursuit of Kansas City Southern and upgrading the board of directors who, among other things, will have a mandate to identify and appoint a new CEO.

 

BRP Inc. (T.DOO) hit a new 52-week high of $126.17 on Tuesday. No news stories available today. The stock has jumped by nearly 18% in the last couple of sessions. These gains in DOO stock came after the company crushed Street analysts’ earnings estimates for Q2 on September 2. With this, the stock has risen by about 50% in 2021 so far.

 

Enbridge Inc. (T.ENB) hit a new 52-week high of $50.47 on Tuesday. Liquids terminaling and logistics company Moda Midstream, LLC and Moda’s financial sponsor EnCap Flatrock Midstream today announced they have entered into a definitive agreement to sell the Moda Ingleside Energy Center and other Moda assets to Enbridge Inc. for an enterprise value, net of working capital and cash, of approximately $3 billion, subject to closing adjustments.

 

Fission Uranium Corp. (T.FCU) hit a new 52-week high of 84 cents on Tuesday. Fission announced scintilometer results from the summer 2021 "metallurgical & geotechnical testwork" drilling on the R840W zone at its' PLS project, in the Athabasca Basin region of Saskatchewan. Four metallurgical holes and three geotechnical holes were completed as part of the Phase 1 feasibility study field work (see News Release June 10 , 2021). All seven holes intersected mineralization with all four metallurgical and two geotechnical holes intersecting wide intervals of strong mineralization.

 

Golden Valley Mines and Royalties Ltd. (V.GZZ) hit a new 52-week high of $9.40 on Tuesday. Gold Royalty, Abitibi Royalties Inc. and Golden Valley Mines and Royalties Ltd. have entered into definitive agreements (the " Agreements ") dated September 6, pursuant to which Gold Royalty will acquire all of the issued and outstanding common shares of each of Abitibi Royalties and Golden Valley by way of statutory plans of arrangement.

 

Lightspeed Commerce Inc. (T.LSPD) hit a new 52-week high of $148.86 on Tuesday. Fobi AI Inc. announced a data aggregation and analytics partnership with Lightspeed Commerce Inc., the one-stop commerce platform for merchants around the world to simplify, scale and create exceptional customer experiences.

 

Puma Exploration Inc. (V.PUMA) hit a new 52-week high of 56 cents on Tuesday. Puma announced that all matters submitted to shareholders for approval as set out in the Company’s Circular dated July 21, 2021, were approved at the Annual and Special Meeting of Shareholders held virtually from Rimouski on August 31, 2021.

 

Aecon Group Inc. (T.ARE) hit a new 52-week high of $21.95 on Tuesday. No news stories available today.

 

Bombardier Inc. (T.BBD.B) hit a new 52-week high of $1.95 on Tuesday. No news stories available today.

 

Bird Construction Inc. (T.BDT) hit a new 52-week high of $10.38 on Tuesday. No news stories available today.

 

Birchcliff Energy Ltd. (T.BIR) hit a new 52-week high of $6.08 on Tuesday. No news stories available today.

 

Cameco Corporation (T.CCO) hit a new 52-week high of $28.01 on Tuesday. No news stories available today.

 

Choice Properties REIT (T.CHP.UN) hit a new 52-week high of $15.08 on Tuesday. No news stories available today.

 

CT REIT (T.CRT.UN) hit a new 52-week high of $158.30 on Tuesday. No news stories available today.

 

Corsa Coal Corp. (V.CSO) hit a new 52-week high of 59 cents on Tuesday. No news stories available today.

 

Converge Technology Solutions Corp. (T.CTS) hit a new 52-week high of $13.00 on Tuesday. No news stories available today.

 

Docebo Inc. (T.DCBO) hit a new 52-week high of $110.39 on Tuesday. No news stories available today.

 

Dream Industrial REIT (T.DIR.UN) hit a new 52-week high of $16.65 on Tuesday. No news stories available today.

 

Medical Facilities Corporation (T.DR) hit a new 52-week high of $10.09 on Tuesday. No news stories available today.

 

Firm Capital Property Trust (V.FCD.UN) hit a new 52-week high of $7.43 on Tuesday. No news stories available today.

 

Forum Energy Metals Corp. (V.FMC) hit a new 52-week high of 49 cents on Tuesday. No news stories available today.

 

Global Atomic Corporation (T.GLO) hit a new 52-week high of $4.07 on Tuesday. No news stories available today.

 

NanoXplore Inc. (T.GRA) hit a new 52-week high of $6.75 on Tuesday. No news stories available today.

 

Gensource Potash Corporation (V.GSP) hit a new 52-week high of 29 cents on Tuesday. No news stories available today.

 

goeasy Ltd. (T.GSY) hit a new 52-week high of $204.60 on Tuesday. No news stories available today.

 

Getchell Gold Corp. (C.GTCH) hit a new 52-week high of 75 cents on Tuesday. No news stories available today.

 

Heroux-Devtek Inc. (T.HRX) hit a new 52-week high of $19.40 on Tuesday. No news stories available today.

 

IGM Financial Inc. (T.IGM) hit a new 52-week high of $47.15 on Tuesday. No news stories available today.

 

InnoCan Pharma Corporation (C.INNO) hit a new 52-week high of 73 cents on Tuesday. No news stories available today.

 

Jazz Resources Inc. (V.JZR) hit a new 52-week high of 57 cents on Tuesday. No news stories available today.

 

Kelt Exploration Ltd. (T.KEL) hit a new 52-week high of $3.67 on Tuesday. No news stories available today.

 

Kiplin Metals Inc. (V.KIP) hit a new 52-week high of 88 cents on Tuesday. No news stories available today.

 

Killam Apartment REIT (T.KMP.UN) hit a new 52-week high of $21.56 on Tuesday. No news stories available today.

 

Laramide Resources Ltd. (T.LAM) hit a new 52-week high of 73 cents on Tuesday. No news stories available today.

 

Mega Uranium Ltd. (T.MGA) hit a new 52-week high of 34 cents on Tuesday. No news stories available today.

 

MCAN Mortgage Corporation (T.MKP) hit a new 52-week high of $18.94 on Tuesday. No news stories available today.

 

Morien Resources Corp. (V.MOX) hit a new 52-week high of 35 cents on Tuesday. No news stories available today.

 

Noront Resources Ltd. (V.NOT) hit a new 52-week high of 80 cents on Tuesday. No news stories available today.

 

Premium Brands Holdings Corporation (T.PBH) hit a new 52-week high of $134.91 on Tuesday. No news stories available today.

 

PEZM Gold Inc. (V.PEZM.H) hit a new 52-week high of 64 cents on Tuesday. No news stories available today.

 

Peak Fintech Group Inc Com (PKK hit a new 52-week high of $13.71 on Tuesday. No news stories available today.

 

Articles

OpEx Frontrunners BTFD After Stocks Suffer ‘Good News Is Bad News’ Dump

OpEx Frontrunners BTFD After Stocks Suffer ‘Good News Is Bad News’ Dump

Philly Fed spiked more than expected (despite employment, new orders,…

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OpEx Frontrunners BTFD After Stocks Suffer 'Good News Is Bad News' Dump

Philly Fed spiked more than expected (despite employment, new orders, and 6-month outlook all plunging), retail sales surged more than expected (despite a tumble in motor vehicle sales), and continuing jobless claims fell to a new post-COVID low (despite total number of Americans on the dole rising back above 12 million).

All good news on the face of it - so 'Sell Mortimer Sell' was the message for markets as investors threw a mini-taper-tantrum sending stocks, bonds, gold, and crude lower as the dollar spiked.

As Goldman's Chris Hussey also noted, today may simply be a case of 'sell the news,' ahead of next week's FOMC meeting. The S&P 500 is still up 18.7% ytd, despite the advent of the Delta variant and the ensuing downdraft in GDP growth forecasts for 2021. In other words, going into September, the bar had been set high. And a big driver of strong returns -- ultra-low rates -- is facing a bit of uncertainty ahead of next week's FOMC meeting (where the committee may indicate that it is preparing to announce a cut in QE in November .

Of course while stocks tumbled out of the gate from the cash open, inevitably the dip-buyers could not resist. However, some modest weakness at the close left stocks marginally lower on the day with Nasdaq the small winner...

This probably helped convince them...

As everyone and their pet rabbit dived in to front-run tomorrow's option-expiration ramp (Friday, September 17th is a large Triple Witching expiration which means that many stocks/ETFs/Indicies have large options positions that will be closed at 4pm EST on Friday). Specifically, updated open interest figures now show 35% of SPX, 50% SPY, and 35% of QQQ gamma expiring tomorrow. As you can see below we now have 4465/75 as a “pin point” which a sharp drop in the SG Momentum down to 4400.

What this essentially says is that we can anticipate high volatility on a break of 4465, with 4400 now the major support marker...

The S&P maintained its bounce off the 50DMA again...

Cyclicals decoupled from Defensives but both saw dump'n'pumps today...

Source: Bloomberg

Shorts were squeezed once again...

Source: Bloomberg

The dollar spiked to the key resistance level at the trough of Jay Powell's Jackson Hole Day speech...

Source: Bloomberg

Treasury yields spiked too today, but while the short-end is now higher in yield on the week, the long-end remains down 5bps...

Source: Bloomberg

But once 10Y Yields had tagged the pre-J-Hole speech levels, yield reversed lower...

Source: Bloomberg

Cryptos were mixed today with Bitcoin down very modestly, unable to hold $48,000 for now (ETH managed gains, hovering around $3600)...

Source: Bloomberg

Gold plunged again today, back below $1800...

Potential support for gold stands around $1,682/oz., the 38.2% Fibonacci level from its December 2015 low to 2020 peak.

Oil prices dumped and pumped like everything else to end unchanged, with WTI just below $73...

Finally, this is not normal...

But this is...

Let's just hope The ECB and The Fed are bluffing... or lots of freshly-minted stock-trading gurus will get quite a reckoning.

Tyler Durden Thu, 09/16/2021 - 16:00
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Economics

Foreigners Sold The Most US Stocks In July Since 2007 ‘Quant Crash’, China Bought Treasuries

Foreigners Sold The Most US Stocks In July Since 2007 ‘Quant Crash’, China Bought Treasuries

In the latest TIC data – from July – Treasuries…

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Foreigners Sold The Most US Stocks In July Since 2007 'Quant Crash', China Bought Treasuries

In the latest TIC data - from July - Treasuries (and agency debt) were bid by foreigners as a wave of fear crossed the globe over the Delta variant, and stocks (and corporate bonds) were dumped en masse.

  • Foreign net buying of Treasuries at $10.2b

  • Foreign net selling of equities at $34.3b

  • Foreign net selling of corporate debt at $11b

  • Foreign net buying of agency debt at $20.7b

In fact, July saw the second biggest selling of US stocks by foreigners since the August 2007 Quant Crash (as the re-emergence of COVID - in its Delta variant - sparked fear across markets mid-month before bank buybacks rescued them)...

On the bond side, China broke a 4 month streak of selling and bought $6.35bn of US Treasuries in July...

Source: Bloomberg

Japan’s holdings climbed in July by $30.5b to a record $1.31t

Source: Bloomberg

Luxembourg, Belgium, and Switzerland all saw notable selling of US Treasuries in July.

Finally, we note that the trend of 'rotation' from bonds to gold has continued in recent months...

Source: Bloomberg

Will that trend change or accelerate next week if The Fed hints at tapering?

Tyler Durden Thu, 09/16/2021 - 16:16
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Precious Metals

The United States reported a 0.7% rise in retail sales. Should I sell Gold?

The gold price has weakened more than 2% this Thursday and reached the lowest level in a month after the U.S. dollar climbed following a better than expected…

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The gold price has weakened more than 2% this Thursday and reached the lowest level in a month after the U.S. dollar climbed following a better than expected rise in U.S. retail sales for August. The United States reported a 0.7% rise in retail sales, raising investors’ expectations that the Federal Reserve will soon begin tapering down monthly bond purchases.

Fundamental analysis: U.S. retail sales figures put pressure on Gold

Gold price remains under pressure this Thursday after the U.S. dollar climbed following a better than expected rise in U.S. retail sales for August. The better than expected results positively influenced the U.S. dollar, and the most significant force behind the Gold price slide is the appreciation of the U.S. dollar.

Investors have started to behave nervously amid concerns that the Federal Reserve will have to tighten its ultra-loose monetary policy sooner than anticipated. Investors will continue to pay attention to the Federal Reserve commentaries looking for any clues, but surging COVID-19 cases could boost demand for Gold because this precious metal is considered a safe-haven asset.

“Risk appetite among market participants continues to be high, as reflected in steep rises in energy and base metals prices. Stock markets remain stable, and what is more, there has been an unexpected and considerable brightening of sentiment among industrial companies in the New York Fed district in September. Gold was not in demand in this market environment,” Commerzbank analyst Daniel Briesemann said in a note.

On the other side, Wall Street’s three main indexes continue to trade in a bull market while U.S. Federal Reserve Chairman Jerome Powell said that inflationary pressures are likely to be temporary. The coronavirus Delta variant is fueling concerns about the recovery path, but the U.S. economy continues to perform well.

The U.S. Initial Jobless Claims fell to the lowest level in almost eighteen months, and the renewed U.S. dollar strength on the back of robust U.S. data continues to negatively influence the price of Gold.

Technical analysis: $1700 represents a strong support level

Those whose interest is to invest in commodities like Gold should consider that the risk of further decline is still not over.

Data source: tradingview.com

The gold price has weakened more than 2% this Thursday, and if the price falls below $1700 support, the next target could be around $1650. The strong resistance level stands around $1850, and if the price jumps above this level, it would be a signal to trade Gold, and we have the open way to $1900. 

Summary

Gold price remains under pressure this Thursday after the U.S. dollar climbed following a better than expected rise in U.S. retail sales for August. The U.S. Initial Jobless Claims fell to the lowest level in almost eighteen months, and investors have started to behave nervously amid concerns that the Federal Reserve will have to tighten its ultra-loose monetary policy.

The post The United States reported a 0.7% rise in retail sales. Should I sell Gold? appeared first on Invezz.

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