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GOLD, SILVER, METALS, AND MINERS WITH PETER GIANULIS
Recorded: Feb. 9, 2026 Duration: 1:54:42Space Recording
Short Summary
In a lively discussion, traders shared insights on market trends and upcoming economic indicators, highlighting the potential for growth in both traditional stocks and the crypto space. With impressive returns from strategic stock picks, the conversation underscored the importance of adapting to market conditions and leveraging opportunities for profit.
Full Transcription
Music Thank you. all right all right welcome in happy mond Monday, everyone. February the 9th here on Wolf Financial,
the stock picks for the week show. One of the longest running shows that we have personally,
as well as one of the longest running shows on X Spaces as a whole. So welcome in. Hope everyone
had a great Monday, a little bounce back day again in the market. Getting back up there.
And I'm interested to hear what everyone says about the sell-off.
I mean, is software just dead?
Is it just dead?
What's going on over there?
Broader market things.
I mean, RSP making all-time highs.
Interesting.
A lot of interesting things going on in this market.
Obviously, got a lot more
earnings information last week since we last spoke on this show. And going forward, obviously,
a lot of growth names reporting this week. A lot of different sectors, again, reporting.
A lot of macro data as well. Retail sales coming out tomorrow morning. The NFP numbers will be out
Wednesday morning and CPI on Friday. So a ton of macro data mixed in this week as well.
So it'll be interesting to see what everyone's thoughts are.
And let's just go ahead and hit the results from this last week.
Overall market was, let's see,
spied down just under, we'll call it 0.32% is what I'm seeing here
since last Tuesday's open to today's close.
And the QQQ was down 2.23%. As a unit, we didn't do fantastic this week. The market beat us
down 3.78%. But we had some absolute bangers. We had two people, two just all-stars stood out this week on the stock picks. And let's go ahead and call
those out. So our first place, new and new heavyweight champion of the, no, okay. Will 14.25% return from a man Will. Two picks there were short MUU. That was 25.94% return. His other
pick, long TSLZ, the 2X short leverage Tesla was up 2.5% as well, giving him that 14.25% average.
That's new champion there. Second place goes to Nick Drendel. Nick Drendel, 11.59% return
between his two picks. The killer and the best pick of the entire week was SNXX to the short side.
SNXX, which is 2X leveraged long SanDisk. He shorted that, so he got the 2x leverage to the downside. 32.64% return on that, the best pick of the week,
giving him that 11.59 average.
And third place, a far shot from those two, was yours truly here.
I had a 1.12%. I beat the market. I was green.
I made the podium, but nowhere close to those two all-star pickers there for this week. So 1.12% was my
return for the third place. And my best pick, Cisco, CSCO. Boomer stock went up 7.39%.
So there's our winners. There's our top picks. So once again, SNXX short top pick of the week. Second one was short M-U-U and then Cisco to the long side, CSCO.
And with that,
let's go ahead and kick into it a little bit.
I see some more friends joining us up here on stage.
But as always, if you're new to the show,
what we do here is we do stock picks for the week.
So from Tuesday open, tomorrow's open,
the competition will run from then
until the following Monday's close.
Next Monday is a holiday.
So we'll have to do that on Tuesday.
Yes, so these picks will run through Tuesday's close
and we'll do this show on Tuesday evening next week.
So a little programming note, heads up to everyone.
Next Monday, President's Day, markets close.
We will do this show on Tuesday. So a little extra day in your pick this time around. And as always on the show,
we start off, we go around, get everyone's market sentiment thoughts. Also, if they want to hit on
any of their picks from the previous week, feel free to do so as well. And without further ado,
let's go ahead and kick into it a little bit here with our current champion, Will.
First time, you've only been a part of the show for a couple weeks you're already taking the crown here yeah i love it thank you yeah it was uh well i figured hey some of these names had
run a lot and i was kind of going through and looking at the charts that were overextended and
micron was one of those picks as long as well as sandisk and some other in the memory space so
uh i actually you know it's funny i was just looking at a chart of micron here and uh it
actually looks like if you do you know you go to like an hourly i mean it could be setting up for
maybe a little bear flag there on the hourly chart so keep that uh on your radar going forward if we
end up breaking below like 360 365 there but. But overall, I think Friday should have,
everyone should have seen that on the radar as a potential big bounce
after we had the Amazon earnings futures were down overnight.
Markets rallied up huge, big short covering rally on Friday,
and we got some continuation on the bounce back today
with some of the software names like Oracle and Microsoft coming off the mat back to the upside.
So I would say in the big picture is S&P obviously a little bit stronger, NASDAQ still on the
weaker side.
We did rally in the SPX right up to the trend line, the downtrend line, which was right at basically 69.80.
And then in the NDX, we're basically back to closing around that nine period moving average
on the NDX. So I don't think we're out of the woods yet in tech. We need to see if we can get
some more follow through. These charts are broken down and some of these names continue to look
weak. Tesla was up at
the highs pulled off the highs a little bit today back under 420. apple was a little bit weaker
today so i think in the big picture uh it's not all clear yet i'd like us to see at least the q's
or the nasdaq reclaim that 50 before i was interested more on the long side and the tech
names but i think you got an oversold bounce and then going into the rest of the week i really I claimed that 50 before I was interested more on the long side and the tech names.
But I think you got an oversold bounce.
And then going into the rest of the week, I really think we need to be cautious on what this jobs number looks like.
There was an announcement for those who didn't see it by Kevin Hassett at the White House that said they're expecting weaker jobs numbers for January.
So I'd put that on your radar.
Bonds did rally up. Yields came down today. The long end of the curve was a bit higher in price and down on yield. So hopefully
we don't get some stereo jobs number that causes some volatility. But that's kind of what I'm
looking at for the rest of the week. Tomorrow, you could get some chop. And then Wednesday,
I think this data will be important on the jobs. And we'll see the next direction we take us.
But again, Qs, for me, got to get back above 620.
And then maybe we look higher.
But if you don't have leadership from the mega cap names like Amazon and the rest of them,
Netflix still hasn't really caught a bid.
Microsoft has bounced, but still relatively weak. You need those names to participate to get a materially higher move in the broad indexes.
So until we see some of those names really firm up and go to the upside, I just think some of the mega cap players from a charting perspective don't look that great.
So stay cautious, go shopping.
So stay cautious, go shopping.
Maybe some of the software names I think are good bargains,
but just be careful that they don't push them lower and try for new lows.
Well, great job on the picks last week.
One just little follow-up question before I move around the panel
and get some more market sentiment thoughts.
Do you think they're floating out that the jobs report is weak
to not
surprise the market, maybe kind of let it get priced in? It seems like maybe that long end of
the curve moving a little bit, some of these rate sensitive stocks. And I noticed the Fed
watch tool, it wasn't a huge change, but it was creeping like for an April rate cut, potentially,
it was creeping up just a little bit. Yeah, I think that is interesting that they announced that today
with that being kind of in the cards that it could be weaker. So maybe they won't catch the
market off guard. I do think any weakness, if it's a negative number for whatever reason,
if it's just low, that's one thing. But if the number comes in negative and the unemployment
rate does tick up, we have seen weaker jolts data.
We had unemployment claims that were up last week, and we've just seen a little bit more softness in the labor market.
And what you don't want to happen is the Fed fund futures start to move a little bit further, that you start pricing in more rate cuts earlier in the year.
And maybe they start saying that the Fed's behind the curve if the labor market continues to weaken. So a negative jobs number in the non-farm payrolls, I think either
way is probably negative for probably retail stocks. We'll see what retail sales tomorrow
looks like. That'll be an interesting one to see as well. But I think that bonds, for those
haven't been in them, yields did come off. You put a topping tail on the daily in the 30-year,
kind of an inverted hammer set up on the yield chart itself.
But I definitely think we just need to be cautious.
And like I said, I don't think we're out of the woods on the broad indexes yet.
We've bounced from some oversold levels,
but I just think that we need to be cautious and see what the data looks like. Cause I do not think a weak jobs number will be a,
a sign for rates. I mean, it'll be a sign for racing them down,
but I don't think it's like, Hey,
get really bullish because jobs are weak and you know,
want to see movement to the upside in stocks.
I don't think that would be a positive.
There you have it. Some great thoughts from our current champion,
Mr. Will himself. Congrats,
sir. Appreciate you. Let's go over to Nick Drindle. Nick Drindle, what are you seeing out there in the market? Fantastic job. Best pick of the week goes to you, SNXX Short. So any
comments you want to make on that, of course, feel free to jump in. And then I'm curious to see
what you're thinking here in the market as we sold off really hard for three days and came right back the last two days.
Yeah, so first off with the SMDK or SNXX short, that name is I mean that name and that theme
the memory theme, extremely, extremely powerful and definitely a chart to study to know how
like what market leaders look like when they get extended all
that stuff. But kind of going into that trade, we had the earnings gap up where it was up
about 25%. Again, it was already extended, I think it was already up 100 something percent
on the year. And then you get that that large gap up on nominal earnings that gets sold
off last Friday when we had the silver and gold trades kind of
breaking to the downside. We had that same type of volatility or not same type, but similar
elevated volatility on that earnings. And then you just creeped higher for about two more days,
which is exactly what silver did right before it stopped. It had like a big volatile day on Monday on the 26th.
And then it creeped higher for like two and a half more days and then had the gap down
that just kind of crushed it. And with SNDK, like a lot of these parabolic moves or extended
moves, they don't end with like a pure blow off top. Blow off tops are actually like extremely
rare in the market. I really think we only had UAMY with that last year. Very often,
these extended moves will actually end with like volatility picking up and then you get a gap down.
And I always say trends do not change until you get a gap in the opposite direction. We finally got the gap down on the fourth.
And then you saw like pretty quick in persistent selling where it was down 16%. And even right
now, I think actually, as MDK is going to be kind of a good indicator for the market.
Because you look at that chart right now, all we have is a pullback to the 10 day moving
average, we shook out the previous lows lows and then we closed relatively weak compared to the indexes
today.
But chart alone, it just looks like a nice little bull flag into the 10-day.
So if we get follow through on a name like Sandus to the upside, and I assume your WDC,
your STX, what's the other one? MU. If those types of names follow
through to the upside, then I think this market is actually in a decent spot to continue this
rally at least a little bit further than most people expect. Because we finally got sentiment
like really shifting last week, especially going into the overnight session on Thursday.
On the NASDAQ, we actually dropped below
the closing price from November 21st, which is like the only support gap that we hadn't tested
up until that point. And that afternoon flush, and then you had Bitcoin flush to 60K, you had
MSTR flush to $100. Both of those held like perfect round numbers. The NASDAQ undercut and reclaim that support gap
and then started railing. So I think a lot of people oh, and NAIM active investors exposure
finally dropped from 92 and a half down to 85. So still relatively elevated. But there's
now some money on the sidelines that can come back into the market if it continues to hold
up. So the bounce from like Thursday afternoon session, once we were gapping up on Friday,
it should have been pretty obvious that we're going to have an oversold bounce.
But this is like the kind of tricky part.
We had the two days bouncing the NASDAQ back into the 10-day into a resistance gap,
into like the year-to-date starting price.
We have strengthened the S&P 500. There's plenty
of other growth leaders like the stocks in the optics space, LITE, GLW, Cien. That theme
seems incredibly strong. And we also have semiconductors still acting pretty well. So
I think the time to really like get short was last Monday.
And if you were chasing shorts on Thursday into that extension,
or even trying to find the first short to get back into the market on Friday's bounce,
you probably got burned a little bit.
And I think we could still have another day or two of this snapback rally
before we start to diverge between what's just having an oversold bounce in
the market and what's actually going to be leading in this next phase, whether that's
an uptrend or a downtrend. So kind of to recap, the things that I'm looking at is that the memory
space, which those have been, that has been a leading theme. It's pulled back to some key
moving averages. Does that break to the upside or does that break to the downside?
That should be a good tell.
And then also, like, NVIDIA.
I think that's a good tell for the market as well.
Today, the last two days, we had really nice rallies back through the key moving averages.
Can we finally get some volatility contraction?
Like, a snapback rally is really nice.
But after you get that oversold bounce, what you're looking for is volatility to contract and then follow through to the upside, both on the index have a decent amount of leadership in the market.
But I don't think we're out of the woods by any means. I think the next like two days are going
to be kind of tricky. So looking at the relative strength, make sure you're trying to only put on
more exposure if you're actually getting traction on your trades. And then let the market invite you in to more positions.
If it kicks you out, it's just saying, hey, this is still a tricky environment.
Maybe we're not ready to trend higher here.
You just have to listen to the market and not go 100% one direction or the other.
Appreciate you, Nick. wise words there um interested to see what uh what picks you have this week after
that absolute banger 32.64 return in just the span of the last week well done nick let's continue
around the panel here and get everyone's market sentiment thoughts um let's go over to ben next
ben over at story trading ben how's it going? What's your market sentiment look like here? As if I didn't hear some of it
earlier. Yeah. So I want to just go a little backwards in time to explain what I think
happened here. Back on day gold and silver peaked in one parabolic. Let me just pull up that chart.
and silver peaked and went parabolic.
Let me just pull up that chart.
Yeah, it was on the morning of,
no, it was probably on January 28th.
I don't remember when it was.
It was either the 28th or 29th.
I put out an alert for our community
that something's about to break.
And that was simply because
of how much gold and silver went up.
It was just insane.
And that's always a warning sign that something's about to break.
Now, little did I know that the catalyst for that break happened maybe the next day when
Kevin Warsh was surprisingly selected by Trump.
So that higher rate catalyst was what kind of set everything off and caused that gold
and silver to break.
But I think subsequently what we've seen is, you know,
there's a lot of hot money in that gold and silver,
a lot of retail and the Bitcoin money was moving in there.
So I think that started a cascade of margin selling
and fear that went into other hot sectors.
You know, so the really hot sectors so far of 2026,
which we've done really well with, defense tech especially,
space, rare earths, nuclear, all of those just got demolished.
And it was just kind of, I think, contagion and margin calls
starting from the gold and silver collapse,
which then led into profit-taking in those
sectors because they were up the most.
And a lot of them, like, within two days, they gave up their whole year gain almost
within two days and then bounced back, like, really, really hard once it got to that break-even
point or near that break-even point.
So that's kind of the craziness that was happening underneath at an index level.
And I always maintain that this pullback was healthy in SPY QQQ. I haven't seen anything
concerning in it. I still don't see anything concerning in it. There was just this euphoria
under the surface with all these meme stocks and gold and silver became a meme stock, right?
with all these meme stocks and gold and silver became a meme stock right and it set off this
really kind of opportunity you know a healthy correction in all these hot sectors the baby
was thrown out with the bath water and created a lot of buying opportunities and some really
hot stocks with good fundamentals so you know we've been all over that and I think there's
more room to go as someone was saying earlier because if you look at a lot of these charts, they all have – not all of has, like, maybe another day or two left in it, as someone said earlier,
notwithstanding any geopolitical thing that can happen maybe with Iran.
I'm not so concerned with its jobs number.
And, you know, I think we're still in the regime of bad news is good news.
So I kind of differ an opinion with the other person who's speaking there. But it always depends the magnitude of the bad news is good news. So I kind of differ an opinion with the other person who's speaking
there. But it always depends the magnitude of the bad news. If it's really, really bad,
you know, then the market can react badly. But if it's just a little bit bad, then you
get that positive reaction, at least in risk assets and IWM and bonds and rates and everything
like that. But I'm not even so concerned about that. I mean, there's so much jobs data constantly coming out. And to me, it's just a little bit of noise that,
you know, all the data points together over time tell a story. But I don't think one jobs
data point is something that changes market direction. It can cause a lot of volatility
for that day. I think what's more likely to maybe change market direction in a more severe way and that we have to watch out for is CPI on Friday.
Unless I'm wrong about that.
I heard no one else talk about CPI Friday.
Maybe I have the wrong schedule.
But I thought I had that on my list.
I think that's going to be much more important than the job.
It is Friday.
Yeah.
And then also Iran.
Now, I've been wrong about Iran for like a month.
You know, I thought Trump was going to go in a long time ago.
But I think that risk is still very much on the table, especially with a three-day weekend maybe approaching.
But so those are like the two things where you have to be wary of maybe a short-term pullback is what's the impact of CPI, what's the impact of Iran.
of maybe a short-term pullback is what's the impact of CPI, what's the impact of Iran.
But fundamentally, from a more intermediate to long-term perspective, I'm still extremely,
extremely bullish. I mean, this AI CapEx from all the mega cap companies, I think that's
really still positive for the market. So, you know, I'm just looking at some risks in the
short term, possibly this week. So I'm basically cautiously bullish for this week.
I still think we have another day or two to go in this crazy bounce back and all of our hot stocks that got hit too hard.
And I think that's all I wanted to hit on.
all I wanted to hit on. Yeah. So, oh, I do want to say this. If there is a pullback in the markets,
Yeah.
So, oh, I do want to say this.
now markets have been telling us that they think the market should go down if Trump goes into Iran.
You can see that clearly from the headlines over the past month. Every time there was a negative
headline in terms of, oh, you know, we're about to go in or something, markets went down and it
didn't snap back until you got a new headline that says, oh, no, false alarm, negotiations are on.
That's been the dynamic. All right. So that is a risk to the downside.
But I strongly believe if that happens and we gap down the morning after work, you buy the crap out of that.
Not only because historically that's always been a great buying opportunity, but fundamentally in this case,
That's always been a great buying opportunity, but fundamentally in this case, if there is going to be regime change in Iran, I think it's a huge, huge fundamental economic benefit for the United States.
I don't want to get into all of that right now, but those are all the things on my radar.
So cautiously optimistic in the short term, still extremely bullish, intermediate, and long term.
Just some kind of risks here to navigate
if you're in like a short-term trading account here over the next couple weeks
great thoughts there from Ben over story trading the one thing that I will just toss out there that
NFP the jobs number on Wednesday will be the first one with the updated census. And so what I've been reading and some
other people have sent to me is that there will be 3.5 million less people involved in this jobs
report. So it'll be the first one with that, but that's the only outlier thing there. Just to put
that out there. Chris, let's go over to you next and we'll continue around to Ariel in Vegas and
finish out the panel.
Yeah, you know it's been interesting to see people finally kind of recognizing
software being somewhat of a challenging industry to be in considering the majority of SaaS as growth has slowed down significantly from like the high 30s to the 20s and now to the
low teens. And one of the things about AI is that this new thing with Claudebot and how,
you know, a lot of these software vendors could get one-shotted by Claudebot.
While there probably are some softwares that are like software products that are
somewhat replaceable, at least there could be competition where they
could have some incumbency risk. I don't think that that's necessarily true for the broader
landscape of software. So companies like ServiceNow, CRM, and Snowflake, and Palantir,
those are the companies I don't think are going to be disrupted by AI, but the market is kind of discounting them along with it. So they're
pretty much selling off the entire index. So I think there's a possibility that eventually we
do see a bottoming happening in companies like ServiceNow, in which case there'll be great value
adds because those things can be long-term growth compounders. They have significant amount of free
cash flow that can deploy to buy back shares. And especially with current depressed prices, they actually work really well. So
I think right now, if you are kind of like looking at trying to develop a long-term portfolio
with a growth compounders, I don't think that there's a better opportunity in the SaaS space,
but you have to be very, very discerning on which ones you want to be in.
And so the one thing I'll probably lay on there is look for the SaaS names that basically have
the source of truth incorporated into their operating model. So basically, right now with
ServiceNow, all these giant companies, everyone uses ServiceNow. All of our knowledge is stored
on ServiceNow. All of our our knowledge is stored on ServiceNow.
All of our ticketing is stored on ServiceNow. And it's not like we can just say, oh yeah,
you know what, let's go buy something off the shelf and spend hundreds of thousands,
if not millions of dollars trying to offboard them and onboard someone else who's like a
really thin client with a thin team of people who just got together and did Claude code.
That's very impossible scenario for me to see.
Now, there is some debate about changing from a seat-based pricing model to something that's
more akin to consumption, which could theoretically impact some of their future growth prospects.
But once again, you have to just see how each company is navigating that. So I think the easy money in SaaS is sort of like past us.
So you really have to like deep dive and pick at companies and see which ones are digestible
to you.
So like today was a great showing of that.
So CRM was up a little bit.
ServiceNow recovered slightly with about 3.3.
CrowdStrike was up.
So all the cybersecurity names are constantly having to improve.
Those are fine.
Palantir was up.
Snowflake was up.
On the other hand, other software products that theoretically don't necessarily have that big of a mode,
especially in a new AI world that are a lot more consumer focused, like Adobe.
Adobe did not rise today.
Workday, which is HR software, didn't really rise too much today. So I would say we're actually it was actually down today. So I'd say with with SaaS, there's definitely the ability to kind of pick stuff off at a significant discount to where the intrinsic value could be. But once again, you have to really do the due
diligence and do the research on figuring it out. The other thing is I think a lot of leaders within
the tech space, they've all been kind of coming out and saying, good luck trying to cloud code
some of these products into existence. It's not going to happen. So I think right now there's a
fundamental debate happening and saying how sticky or how big of a moat does SaaS, like certain SaaS companies do they really have.
And I think this is where you have to be very discerning as to what it is.
And this way you can actually pick up on it.
So I think that's one of the themes that I'm looking at right now.
So I'm just waiting out for some bottoming of some really strong names, great free cash
flow margins that they're going to be able to really buy back a ton
of shares, in which case boost up their EPS and you'll have a nice growth compound going forward.
So my bet of course is going to be something like ServiceNow. I use the product every day.
They're incorporating new features into it all the time, AI features. I wonder how they're going
to get around it. So they are trying to do something more like a hybrid model in terms of pricing.
We'll see how that impacts their earnings long term.
But the point is, right now is a great time to start looking at the babies that got thrown out with the bathwater.
And yeah.
Outside of that, I think inflation is starting to really show that we're getting this massive
move down in inflation in the next at least three to six months.
I know that everyone looks at that Truflation data and some of it seems very unbelievable.
What do you mean?
Half percentage point on CPI?
There's no way.
But one of the things that I've noticed about Truflation, while the breadth of their numbers
seem excessive, their directionally
have been pretty accurate, especially when you look at BLS. And BLS is about 30 to maybe
60, even sometimes 90 days. And I think some of the bond markets have actually figured
that out. Some of the fixed income guys, they've already figured that out. And right now they're
doing their best to just load up as much as they can and lock in these nice, great yields. Like today,
you saw the Google bond sale. It was oversubscribed by five times, which leads me to believe that,
hey, this capex cycle could go on longer than people are expecting because if the debt markets
close, you got a problem, right? But until that debt market closes and these guys are able to
issue debt at reasonable prices, in which case, you know, their margins are like, what is it?
I think Google has a 30, 40% margin. So they don't mind giving up 500 bips right now to gain
significantly more business in the future. And so right now the bond market's pretty much
screaming that,
hey, listen, we think inflation is going to eventually start to come down. Now,
they may not necessarily believe in sovereign debt nearly as much, but that's only because
there's just a lot of it out there. I think companies like Google, Microsoft, Amazon,
all of them, everyone kind of got freaked out by the high AI CapEx number.
But I do think that there's a lot more traction than we think.
And these guys would not be spending as much money unless they actually had the demand
and the forecasted demand was out there.
So like I said, for me, I'm looking at companies like Amazon to load up on as the market kind
of like gets past the, oh my God, $200 billion of CapEx for the entire year.
Once they get kind of past that and they realize like,
wait a second, AWS is actually re-accelerating,
which is a really big deal for them
because that's one of their highest margin business lines.
Same thing with Google and GCP, how that's growing.
Azure's RPO is insane.
So, you know, if the numbers weren't justifying it
and they were just doing this to
basically compete against each other, I think that there's actually real demand.
And the main beneficiary, of course, everyone here knows is going to be NVIDIA.
You can't say we're going to do CapEx that's going to be $200 billion above what the consensus was
this year, going into this year. And now everyone is going to be like, wait a second,
a good portion of that additional CapEx is going to go into NVIDIA's estimates. And so whatever
the estimates were going into this year, I think they're going to be re-rated possibly some higher.
So we'll see what happens when NVIDIA reports. But I think right now the easiest bet to make,
to be honest with you, is just NVIDIA and probably Amazon, considering just how oversold Amazon is relative to their future growth prospects. So, yeah. Great thoughts there from
Chris Patel. Take a second if you're in the audience, make sure you're following all of
these great speakers that are up here on stage, sharing their thoughts, their knowledge, their
wisdom for you. And of course, do your own due diligence as we get into the picks here in just a little bit as well. Don't just randomly
follow anything here, but do your due diligence, make a little watch list maybe, look into some
of the stuff and definitely pay attention to all the great thoughts being shared up here.
Appreciate you, Chris. Let's go over to Vegas next. Vegas, great to have you back on the show.
What are your broader market thoughts here?
Well, first of all, hi, everyone.
And great to be back.
And my thoughts on the market today, really,
I thought that the market showed some modest gains today.
And I thought it was kind of calm.
And I thought it was a nice extended recovery from last week's volatility.
And a lot of tech stocks, as you can see, was leading the way again.
And I think it really helped to reverse some of the recent pressures on these growth stock names.
And we saw some nice results today with the Dow Jones up 20 points.
The S&P was up 32.5 points.
The NASDAQ was up nice anywhere from 207, 209 points.
And so I loved this tech rebound continuation today
because we kind of had a little bit of rough patch
earlier this year with a lot of software stocks
hitting hard and rotation out of the mega caps.
And so with all this like AI infrastructure,
big tech names, we did see a solid follow through buying.
And I think this has helped the NASDAQ
outperform noticeably.
I think there is still with the tech stocks, there's going to be ongoing signs of money
shifting towards cyclical values in spots through noting, if you take a look at those. And then the
other thing too, is like we saw with Bitcoin, I mean, that has been huge, like a huge sentiment
because, you know, it had a big
drawdown. And we know everyone's watching Bitcoin going, oh, my God, it's down like 50 percent.
Plus market cap dropped from late 2025 highs. But we saw crypto, you know, even on the weekend,
showing some recovery sign in the recent sessions. And so that kind of has eased some of the sentiment
pressure. So, you know, I kind of agree with the panel
with regards to this delayed January job, like who cares? Like, you know, I think we're going to
really want to hear about the CPI inflation data, because that will be very critical for assessing
whether cooling will continue, or if the reacceleration fears will return. And of course,
on top of that, we have like heavy earnings
seasons ramping up. A lot of big tech and bank reports are likely going to be driving a lot of
these swings. So I think right now, overall sentiment feels cautiously optimistic. I think
the market was really good. And it just shows how resilient the market really is about absorbing
last week's turbulence reasonably well.
And we saw the president, I mean, he tweeted the other day that the Dow,
end of his term, he's looking for $100,000.
And we see the Dow today, you know, Dow made history.
And tech buyers are stepping in on these dips.
If you're a tech investor, you are definitely going to buy these dips.
I think some valuations could remain a little bit stretched in parts of the market.
And seasonality can also get choppy mid-February,
and we're heading towards mid-February very soon.
So right now I think it's, you know, hold the highs and grind.
I think it's just, it's one of those, rather than a big directional movement.
So I think that, you know, if you're positioned in tech or AI leaders,
I think today should give you that support.
And if you're waiting for better entry points in other areas, obviously the tape is not screaming urgency either.
So just, you know, take your time, be patient and get an entry that you're comfortable taking.
So that's just my thoughts on what I'm seeing and what I expect.
But I also agree with the panel.
I think the next couple of days will still be, you know, some buying here, some continuation.
And looking for that, at least for the next couple of days, and then we'll go from there.
So I'm still bullish.
You guys, do you ever hear me say I'm bearish?
I've never heard you say you're bearish, to be fair.
But at the same time, it is great to hear your voice, get your updated thoughts.
Thanks for being back on the show.
Come back around here and get your picks here just shortly.
Thanks, Vegas.
Ariel, we haven't heard from you.
Let's get your thoughts here on the market.
Thanks, Wolf.
And I do agree with what most of the panel was saying here.
I'm also in agreement that the IGV, you know, it is littered with some really great companies. And you did get some
big time washed out sentiment on Thursday when you had Bitcoin at one point down 15%.
You know, you've had this big steady unwind, you know, going back to, you know, November in some
cases, October in some other cases for some of these software stocks, NOW, Microsoft, Oracle, et cetera.
I did buy some IGV myself on Friday, so it was nice to see a bit of some life at least.
But really, when we think about where money is truly going and things that appear to be
in sustained uptrends and really brand new trends.
It's more so in the oil and gas space.
Like I've been long Exxon Mobil almost two months now, and that has just been an absolute
powerhouse.
I've been meaning to add to the position, but it's just not really slowing up in any
meaningful way where you can comfortably add to something that is just actually getting
extended. But when you look at the XOP and you look at the XLE and you look at oil services,
it's actually the leading sector so far this year. And I don't necessarily see the reason for
it to stop. I'm sure a lot of us have probably heard or talked about or thought about
maybe why oil services could be a sector
or industrials could be a sector that can continue for, you know, maybe the rest of
this year into next year.
And a lot of it for me has to do with, I have an agreement with most of you guys that the
AI theme is probably a theme that, you really good future benefits for all of us,
but that AI data center build out is still very important. And nuclear is very slow to bring
online. Solar and wind, maybe they're not the most reliable at this point. And so I start to
think about NatGas. I start to think about diesel. You know, I look at names like Cummins, CMI, and this is just a chart that's been going vertical. You start to think about that AI data center build out, you know, being a necessity a Ram being like one of the biggest bottlenecks.
I that might be true, but Ram's not our biggest bottleneck if we don't have enough power.
So just seeing, you know, a Chevron and Exxon Mobil, knowing that oil services, you know,
are really a it's a massive theme.
You think about XLE breaking out over a 10 year high.
That's never bearish. And you also You think about XLE breaking out over a 10-year high. That's never bearish.
And you also then think about it. These names are doing it without crude oil being in any really sustained uptrend yet. So they're acting as if they don't need crude oil. And part of it could
be, there is another layer to like an ExxonMobil or a Halliburton or SLB.
And you just kind of look down the line, VLO, CVX, some of these some of the biggest companies really still in the world.
But just in a part of a market that none of us are ever really, you know, the most comfortable trading.
A lot of us are growth traders, momentum growth traders at that.
So I think about software. Software to me,
this is just an oversold rally. A lot of charts are completely broken. You get the washed out
sentiment. You just get this capitulation to the downside and you get a rebound. I think that
that's totally fine, but my eyes will continue to stay on the place or the places where money is continuously going. And for me, that's,
and I hate to say it, right? It's the XLP, it's XOP, it's the XLE, you know, it's even trucking
names, IYT related. And, you know, we still have some opportunities, I think, when you look at
UFO or ITA for aerospace and defense. I think Boeing looks pretty interesting.
I still think Rocket Lab looks interesting.
I still think a PL looks interesting.
So there are still definite young growth stocks that we can pay attention to.
Nick mentioned the optic stocks, A-A-O-I, Corning, C-I-E-N, L-I-T-E.
But a lot of these stocks, when you think about them from their April lows, they're up, you know, like L-I-T-E. But a lot of these stocks, when you think about them from their April lows,
they're up, you know, like L-I-T-E is up almost a thousand percent. So if that stock just went
sideways for the next three months, it shouldn't necessarily surprise anyone. And, you know,
we'll kind of see what happens from here. I still do think that we're going to be talking
a lot about the oil and gas sector, you know, over the coming year. I don't think that we're going to be talking a lot about the oil and gas sector over the coming year.
I don't think that that theme is done.
In fact, I look at the XOP, zoom out a bit, and it kind of makes you and it paints a picture of, you know what, maybe this theme is just starting.
And I know we're in the middle of, you know, as some people might say, an AI super cycle.
super cycle. But that AI is not possible without power. And I don't know who better to power some
But, you know, that AI is not possible without power.
of these data centers than maybe diesel and generators while the slow nuclear gets its
chance to have some more nuclear reactors come online. And yeah, that's just kind of my thoughts
for now. My focus will continue to be on where money is going. Industrials, energies, I think make tons of sense, but obviously you look
at an XOM at a moment's notice, this thing can start consolidating for the next month or so as
well, just based on how big of a move it's had. And it wouldn't be too surprising, but don't lose
sight of oil service names. They are already this year's leading sector. And don't be too surprised if that theme continues.
Do not be surprised, says Ariel. I appreciate that great rundown there from the panel. Jordan, do you want to throw in any thoughts on the broader market before we get into the picks?
Do you want to throw in any thoughts on the broader market before we get into the picks?
Not really much to add.
I'm pretty much in agreeance with the panel.
I mean, pretty bullish on this market from this dip.
We're going to keep riding it day by day.
I've really got nothing else to add.
So shout out to the crew.
We appreciate everybody coming on.
It's been a crazy market the past few weeks, and we got another crazy week ahead of us with all this data coming out.
We talked about having CPI on Friday, some data points throughout the middle of the week as well.
So I think just staying safe through all that, NFP Wednesday, which is super weird.
We never really have that.
So I think just making it through this week, we'll see all the market rebounds.
But overall, I mean, I have to be bullish this market where we're at. I mean, you see an NVIDIA at the bottom of the range.
It's funny. Every time, I was talking about this on stream, but every time NVIDIA seems to get to
the bottom of that range, everybody starts to get bearish on it. Nobody likes it. And every time,
it just gets picked up off those lows. So I really think, you know, it's hard to short something that's quiet like that, even though I know NVIDIA has been pretty quiet.
It's just never short a dull market.
And right now NVIDIA looks like it's dull.
It's just consolidating sideways.
And then obviously it picked up these past two days.
So we'll see where that wants to go.
But I think it's really hard to see any big selling when your biggest semi is just holding like that and not really breaking any structure to the downside.
So we're staying bullish this market.
Boom, there you have it.
I'll just copy and paste everyone's thoughts.
What a fantastic rundown from the panel here.
Let's get into the picks here.
Last 15 minutes of the space.
Two picks from each person.
They can be leveraged.
They can be short.
They can be leveraged they can be short they can
be long and we go from tomorrow's opening tuesday opening and this time of course since monday
holiday we will go through tuesday's close and we'll do this show on tuesday next week tuesday
evening um will you're our current champion you get first dibs on the picks what two stocks are
you going with this week all right i'm going with
the h double o z which is going to be short robin hood and i'm picking that because i think this
bounce back we had was very strong off that low and we wicked right into the nine period so i'm
thinking we retraced maybe some of the last couple days. We do get some bearish data tomorrow and Wednesday.
And then the other one is I'm going to go with NEE NextEra Energy is my long.
It's the next one.
If we do get some weaker rates i think that one keeps
pushing to the upside all right there you have it so our current champion will going with hooz
which is that's 2x bearish robin hood right yep so you're long the hooz and then you're long the H-O-O-Z, and then you're also going long next era, N-E-E.
You got it.
Boom.
There it is from our current champion.
14.25% return last week.
H-O-O-Z and N-E-E, both on the long side from Will.
Second place was Nick Drendel.
Nick Drendel, what do you have for us?
I'm going to go with one long, one short,
because I see the market going either direction from here.
The long one we'll go with is ENPH.
So solar stocks have been one of the strongest groups in the market since that April low in 2025.
They've been an absolute pain to actually trade, but they have been grinding higher,
basically since the news that the tax credit wasn't getting renewed. They've been an absolute pain to actually trade, but they have been grinding higher basically
since the news that the tax credit wasn't getting renewed.
I think that was June 17th and they fell, what was it?
The solar ETF fell 9% that day, but then we didn't push any lower from that point and
it's just been a nice grind higher.
The one stock in the theme that hadn't been participating
was Enphase, and that's until earnings last week where it was up 38.6% on the highest up volume,
at least ice cream ever. Really strong closing range and the last three days it's just kind of
chopped sideways, letting the five-day EMA catch up.
The solar ETF tan looks incredible, made new 52-week high closing prices today.
And then you have stuff like NXT that looks really, really nice.
RUN looks nice as well.
So I think the theme has some legs behind it.
And with that highest volume ever move on the fourth, I think this
is a name that was probably shorted for an extended period for good reasons. This top
basically as we were ending the bear market in 2020 at 322 fell all the way down to 26.
So feels like we should we could get some shorts squeezed out of here,
some renewed interest to this stock and theme itself
with the other names kind of setting up there.
And then on the short side, I will go with shorting T-A-R-K,
T-A-R-K, which is a two times leveraged ARKK. And that really, like, I like to use ARKK and IWO
which is a two times leveraged ARKK.
in my daily process to just see what growth stocks, like how the true, like,
high beta growth stocks are acting. And that really showed the picture over the last two weeks
of the destruction with growth stocks and that ARKK,
losing the 50-day, losing the 200-day, getting quite a bit extended. I think it was
three oversized sell-off bars down into Thursday's low. Now we've had two nice rallies back up,
but we're still below the 10-day EMA. I think this could have another one or two-day rally.
It's a little bit tough for this competition, but I'm looking to short this into the 200 day moving average, which
for ARKK, it's right at 7459. So looking for a little uppercut and failure right around that
area to get involved. And then in my actual trading, I'll probably just short ARKK, but for competition purposes, let's short T-A-R-K for that leverage.
TARC, T-A-R-K, that's the one you're shorting?
Yes.
Okay, perfect.
So short T-A-R-K and long M-phase E-N-P-H
from our second-place finisher, Nick Drendel,
11.59% return last week.
I was third.
Boy, I've been back and forth on my picks about 1,000 times at this point.
I'm just going to send these two.
I'm going to take CrowdStrike 2x Leverage long.
I think that headline kind of overdid it a little bit for cybersecurity.
CRWL is that ticker.
And then ARM.
I like ARM Holdings, so I'm going to take ARMG from our friends at Leverage Shares.
Reclaimed the 50-day, held it perfectly at the WIC low today on that 50-day moving average, breaking back over those recent highs.
So I think it can run a little bit more.
A little bit risky if the market doesn't cooperate here, but those are the two I'm taking, CRWL and ARMG. That's CrowdStrike and ARM,
Vol2X Leverage. And we'll just go over to Ben for his two picks.
Okay. A little difficult this week because there's so much volatility in the market. So to go out one week pretty
hard. I'm very actively managing my short-term account right now, very catalyst-oriented
and looking for big wins in hours or a day or two and then I'm out. So it's a little
difficult here, especially because a lot of my favorite stocks that we picked up on Friday
morning have run really hard already for a couple of days. And like I said, they have room for
another day or two, but then what happens after that, right? They hit their next moving average
above whether it's the 20 or the 50, and then they can pull back by early next week. So it makes it
really hard picking this week. So I'm just going to go with two things that have near-term
catalysts today and hope that they'll continue through any possible market volatility. All
right, one is Credo, CRDO here in After Hours, reported revenue, preliminary revenue, 19% ahead of their guidance.
A huge, huge number for this size company is AI infrastructure.
And so it's already up 14% in after hours.
So, you know, very risky for this competition because I have no idea where it's going to
open at 9.30 a.m. tomorrow.
But I put a price objective out there of 165
dollars for a community which i think could be hit could be hit tomorrow but we go by the open
at 9 30 so i you know and then is it going to hold the 165 by next tuesday got no idea but
that's hot off the press so added benefit of choosing this one in case anyone wants to look
at that news and play it tonight or tomorrow.
You can get some alpha potentially there.
Maybe it'll work a week out. I got no idea.
All right. And then another one here, which is, you know, I don't know if this is going to work out, but I'll try it.
It's Lunar, L-U-N-R.
So this is our number one pick of the day today and it worked out today
and um i thought it might do more today it actually exceeded my initial target of like 1925
but then i kind of upped my target to 21 to 23. the reason for this stock is because um spacex
and elon musk making that uh pivot to away from Mars and to moon right I don't know if you
saw that but like major pivot right they're gonna be building moon bases they're self-growing moon
city not you know Mars not for now not in the foreseeable future so uh lunar obviously you got
the ticker symbol you know what they do right um? So I think sentiment-wise, this is really good for the
company. And who knows, maybe even they get some business from SpaceX, maybe SpaceX buys them out
one day. RSI is still not overbought on this one-day move off of this news. I wasn't so
impressed with the volume today, though. You know, I'm looking at this, and I'm like, I think a lot
of retail just got washed out last week.
A lot of people probably literally closed their accounts here, you know, went to zero.
And or just people kind of in shock from last week and they're not ready to jump on these kind of themes.
Because I would have thought the volume would have been much higher today on this catalyst.
So it's a little risky in that respect that I don't see.
I just didn't see that oomph in the price action today. So I'm not sure if we get to follow through.
But if we do get to follow through,
if the volume comes back in somehow,
I wouldn't be surprised to see lunar over $23 by next week.
I mean, this whole space sector has been on fire
since the SpaceX IPO news.
And this is another massive piece of news from SpaceX saying not only space, but, you know, not broadly space, but particularly moon is where we want to focus.
So, you know, I think it's entirely recent, but wouldn't be surprising, right, to see this thing break its 52-week high.
I guess the 52-week high might be 25.
But anyway, hit a new high for the year
above 23.
If you all look at that next week,
you'll be like, duh.
It can definitely happen.
I see this thing over 23.
But just concerned that the volume
isn't there and retail got wiped out.
So we'll see.
So it was a great trade today.
I sold about half of it and I'm swinging
about half a position to see if we get towards that 21 to 23 target on LUNR.
What was the first ticker? I had a phone call come in right when you mentioned the first ticker.
CREDO, CRDO, massive preliminary numbers of reporters.
Yeah, we were talking about that on Stocks in Space as well ago.
I thought that's the one you were mentioning, but since I didn't hear it, I was like, let me just confirm there.
So CRDO, Credo, and Lunar, L-U-N-R, both long from Ben over at Story Trading.
Appreciate you, Ben.
I'm just going straight down my list here.
Ariel, I've got you next on here if you want to give your two picks, please, sir. Yes, sir. I'm also in the down my list here. Ariel, I've got you next on here. If you want to give your two picks, please, sir.
Yes, sir.
I'm also in the ball camp with Nick.
I don't have any idea if this market is just going to continue to follow through on the
software side or if the volatility just continues.
And if you look at the QQQ, we are still lagging quite a bit, still living underneath the 50
simple moving average. So for me, I am going to take AVGX as a leveraged short for AVGO, effectively using that 50 day as my guide.
And then also Bloom Energy, they are done with their earnings. And I still think that the
And I still think that the idea of energy still sounds like where I'd like to be.
Bloom Energy kind of hanging out above that left side peak back in November.
And then obviously GEV, completely different company, but just continues to rock higher.
So I think Bloom Energy can definitely follow in those footsteps.
So Bloom Energy on the long side and AVGX on the short side.
Boom. There you have it from Ariel. 2X Leverage Broadcom AVGX is that ticker. He's shorting
that one. And then Long BE, Bloom Energy from Real Simple Ariel.
Appreciate you, sir.
Vegas, I've got you next here.
Which two picks are you looking at?
All right.
Well, you know what?
I'm going to take my good old friend, NVIDIA.
So I'm going to do NVDX.
And, you know, look, this chart is gorgeous.
And you know what?
Even Jordan and I, we both love this company.
And, you know, every time a stock pulls back, people are like, oh, you know, they compare this to AMD.
I mean, you have to remember, this is a growth stock and he is the leader of AI.
He is the AI king.
So don't just look at the price of a stock.
You got to look at the big picture and the big growth that NVIDIA has,
especially when they were at the event in Las Vegas.
Jen Sen's keynote was so instrumental because he really talked about the AI expansion
rather than flashy consumer GPUs.
And so that really enforced their position
as a dominant force in AI infrastructure.
And I think that they're going to extend their reach
into physical AI,
what interacts and controls with things in the real world.
So I could go on and on about this,
but I know we're short on time.
So that's gonna be one of my picks,
but I wanna do the NVDX as the pick.
And then my second pick will be MSFU, Microsoft ETF,
because Microsoft is one of the strongest,
most diversified blue chip tech investments for 2026.
I think that their massive scale in enterprise software,
dominant cloud growth with their Azure,
and their leading AI
position with their open AI partnership with connections with CoPilot. I mean, if you recall,
even last year, the stock was down like near like 555 almost. So, you know, stock year to date,
like it's down about 22 to 25%. So I think this pullback is very attractive. I think it's brought
some valuation to some maybe some attractive
longer term investors. And I love the fact of the revenue. I love the growth. I just love the whole
thing. So I think with MSFU, the other reason I like it also is when I was taking a closer look
at this chart, I do see a breakout coming on Microsoft. So my target on this is going to be around 4.30.
So we're currently trading after hours.
It has been gapping up after hours, actually, from when we closed today.
We're already around 4.16.58.
So I'm looking for this.
Maybe tomorrow I could see 4.20.
And then I'm looking for 4.30.
So I think we'll see a nice move on Microsoft.
I think we'll have a nice little pop.
And NVIDIA, my target on that is around 210.
So we'll see how that one works.
And bullish on both.
So MSFU and NVDX, two picks.
Right, there you have it from I Love Stocks.
Miss Vegas, NVDX, and MSFU.
Both charts look very good.
Microsoft just coming off that gap fill.
All right, a couple of picks left here quickly,
and we are going to talk some gold, some silver, some mining,
some precious metals, some great stuff, so stick around for that for sure.
Chris, we come over to you and get your two picks in here next, please, sir.
Yeah, I'll try to keep it really brief.
I was going to go with NVIDIA also, but since it's already been taken,
I'll use Amazon AMZU for the leveraged long Amazon.
I think the market's going to pick up steam.
It's got oversold.
People are going to digest that CapEx number,
and I think going forward it's going to be fine. I also have Fiserv reporting tomorrow morning. I think last time they really had a
bleak guidance. That was a kitchen sink quarter, but I think the guide for 2026 is going to be a
little bit more upbeat than what most people are thinking. So I think Fiserv has a great
upward movement tomorrow. So those are the two I'm going to go with.
upward movement tomorrow.
So those are the two I'm going to go with.
All right.
Mr. Chris Patel going with AMZU,
2X Leverage Amazon,
and Fiserv.
That's F-I-S-V,
both on the long side from Chris.
Appreciate you, sir.
Jordan, my co-host up here,
give me your two picks, please, sir.
Let's go with TSLG,
if it hasn't been taken,
from Leverage Shares.
Shout out.
And then I'll just run it back with TQQQ.
We'll be good.
Bold up, baby.
Bold.
I'll bold up.
We got a lot of bullishness going on here.
I can't say that I hate it, honestly.
We'll see what happens there.
TSLG and TQQQ.
And I saw Gav just snuck in here as we get ready for this next
conversation gav do you want to throw in a couple picks uh before we rotate
yes i would love to throw in a couple can you hear me well i got you all right perfect so i've
been watching uh several things here uh first pick for me is going to be TSM, but I'm actually going to do
the 2X leveraged version of that from our friends over at Themes. So that's TSMG. So it's a 2X
leveraged Taiwan Semiconductor short thesis hit new all-time highs today. And as you can see,
it's been a tough year for software, but hardware has done just fine. And so that is up. I mean, the leveraged version is up 25%
year to date. Like I said, continuing to push all-time highs up over 100% the past year.
TSM underlying is doing just fine. Heavy demand there from NVIDIA and others that are going to
continue coming in. But even on a weekly play, I just like it for relative strength.
And I believe on the earning side of things,
and I'm really excited for this conversation here with Peter in a second.
So I will hurry through this and I will make sure that my second pick,
it was good luck for me the last time Peter was on.
I think I won that competition.
But you can see they're already past earnings as well, TSM, and they pushed up to new all-time highs since that little earnings
drawdown. The second pick, I'm going to run it back. I think last time that Peter was on,
I picked GDXU, which is a triple leveraged gold miners ETN. It was up 17% today. It took a huge
drop when gold pulled back. It's down about 36% in the last week and four days, which sounds like a lot,
except for when you realize that at one point
they were down 60% as about a week ago.
So they've had a big, big climb back in the last few days.
So those are a couple of things that I am looking at there.
And GDXU and TSM, I think,
are a couple of strong picks here for the week.
Boom, there you have it coming in.
I feel like Peter's your good luck charm too.
Every time he comes on the space,
we seem to get another pump,
which fed a lot of pumps,
but still seem to get a nice little pump there in gold.
A little bit of consolidation going on there.
Be interesting.
And I am excited for this next conversation.
I did just get a tweet sent out
and pinned up top with all the picks
that you just heard from all of our great
panel. Once again, shout out to the panel joining us here every Monday. And of course, programming
note, next Monday is a holiday. So we'll do this on Tuesday at 5 p.m. next week. Make sure you
follow all of the great speakers and panelists that we had up here. And Gav, I'll turn it over
to you. I'll get that title changed. If you want to introduce Peter again, I'm excited to have him
back and get some updated thoughts here. Yeah, thanks so much. I am excited for this one as well.
If anybody hasn't seen, I've been talking a lot about gold on the timeline pretty consistently.
I actually had Peter Schiff back on the show on Thursday as well. And I did a conversation
that same day earlier that day with Peter Giannis, who joins us on stage now. He's the CEO of A2 Gold Corp, and we'll be
having a discussion with them around gold, gold mining, where the opportunity is. If you've been
listening to my content, you'll know that I deeply believe that there's going to be a continued move
up in this area. Peter Schiff's target price was $20,000, which would be like $150 trillion market
cap for gold. So we'll see. I don't know if we're getting there that soon,
but I definitely think we have opportunity.
We're holding 5K, super nice.
You could see gold, another green day-to-day, 2.1%.
It's up 76% in the past year.
Spot gold, this is up 17% year to date.
And like we kind of held 4,000 for a little bit,
then we moved up to five.
Now let's hold 5,000 for a little, move up to six.
So I'm excited to see what can happen here.
I've got a lot more thoughts.
Before I get into them, Peter, how's your night going?
Can you hear us well, Peter?
Do you see you're unmuted?
Maybe he's having some trouble talking.
Maybe try rejoining the space if you're having any issues there.
But I'll get into it, actually, just because we're going to be talking about this.
So I've done a bunch of chats with Peter, like I mentioned, CEO over at A2Gold.
And a quick disclosure here.
This space is sponsored by A2Gold.
And the ticker is AUAU.V, found on the TSXV or on the OTC markets.
It's intended for informational purposes only, and it is not a recommendation or endorsement of any specific stock or investment strategy.
Investing in stocks involves risk, including the possibility of losing your principal.
So please, always conduct thorough research and consult a licensed financial advisor if you feel the need to prior to making any investment decisions. With that being said, Peter, do let me know when you have the ability to speak,
but just to kind of start off here. Oh, there we go. How's it going? Yeah, I'm doing well. Sorry.
I don't know what happened, but I was hearing you, but I couldn't speak. No problem. Well,
I hope you're having a great evening. Welcome to the panel. I always like to kick it off if you
can give, you know, 30 seconds background, because that gives people a good reason to realize that you've been in this gold space for a long time.
Yeah, I mean, just quickly, if I have 30 seconds, I've been in it for close to 30 years. I've been on both sides of the table on the investment banking and the trading side at Solomon rather than that at Carrollton.
And then in those last 10 years, managing a gold silver company kind of gave me both perspectives in terms of managing the physical, the actual miners from a buy side perspective and then ultimately running a company.
So I guess the one thing I bring to the table is maybe a good understanding of gold silver, but Peter Schiff, I'm sure, understands it well.
I think where I potentially excel is understanding how to evaluate the companies, whether that's a minor in exploration.
So that's a quick 30 second.
Beautiful.
Appreciate you outlining that for us.
Now, I hope people have been paying attention since we've been talking.
We've been having Peter on the show for roughly the past four-ish months.
He's been on here.
And during that time period, like we've talked about, it's been quite the move.
So if you go back to really the start of October, where really was where we started kind of having our conversations,
gold was trading at right under 4,000.
It has moved up about 27%, 30% since we started having these conversations.
But the real move has also happened inside of A2 Gold.
Your company, AUAU.B, last six months, the stock has doubled.
It is up 105%.
Year-to-date, it is up 53.7%.
And last 52 weeks, it is up 748%.
Pretty momentous gain.
I mean, this stock went all the way from trading like sub 10 cents, I think, back in May of 2025 to trading at $1.23 now.
And looking to continue moving here as things have continued to improve.
The financials have, you know, shaped up.
So I know we're going to have a deeper conversation here around, you know, what's happening to gold space, what's the next opportunity, how to play,
you know, off this pullback. But in the meantime, this has just been a true runner. So congrats to,
you know, any of the audience that's been paying attention to this gold theme as a whole, whether
it's been in the spot gold miners, you know, you've been on this thematic with us, but we really
don't believe it's done. So Peter wanted to kind of talk with you today a little bit about that,
what you see ahead for gold itself, but kind of talk with you today a little bit about that, what you see ahead
for gold itself, but kind of following up on our past conversations, why there's so much more
opportunity here in the miners who are playing this amazing catch-up trade. Well, I mean,
if you look at the market caps and you've segmented out by market caps, the larger market
caps have a higher correlation to the movement in gold and silver. And then the exploration companies have a significant,
it has a very low correlation, but a high beta towards gold and silver to gold and silver. So
I would say that what has happened, particularly in the exploration and the small caps,
is just a little bit of catching up. I believe that the exploration companies are pricing in between 25 and 3000 gold golds at 5000 and silver at in
the mid 80s and silver is not even being priced in for example a lot of heap leach projects which
is a way of processing and recovering gold and including our project in nevada use a gold and
silver is usually the the the metal that comes out in the heap lead to recover a small part of the silver.
But at silver at $85, it means that the entire operation to recover gold is free. So silver is
paying for the mining costs and the processing costs, and you're getting the gold out for
essentially free. Now there's additional costs associated with it, but they really are minute.
What you're seeing in the exploration companies and some of the small cap miners, and I still think there's a significant run to occur if gold stays at 5,000, is that
people that are evaluating these companies and the NPV are starting to realize that, wow,
there really is no cost associated with taking out gold once you take out the silver buy credits.
So what has happened is,
are the fundamentals getting better?
Companies are raising money,
their balance sheets are stronger.
But I'm gonna point to one final thing.
And I alluded to it last time,
but I was able to do a little bit more research
and investigation and also talking to some of my contacts
throughout Europe and in the United States.
What I'm seeing is something I haven't seen in 14 years, which is fund creation, inflows coming into the existing
funds and generalist funds allocating into gold and silver.
Now, if what I'm hearing is actually occurring, the explosive nature or the stage in the gold and silver has yet to occur.
We are going to see, I believe, if rotation is happening by the General's Fund and new
fund creation occurs, they will look at the companies over the $100 million market cap.
It's going to be very difficult to attract attention at the $20 to $40 million market
cap, but at the $ 100 million market cap level,
you're going to see a lot of money coming in. And when that occurs, these companies will go up
significantly, multiples, significantly, many times multiples than what's happened today.
So I think just to summarize, the junior companies are starting to play catch up,
although they're still way behind. And then the second thing is there is a rotation occurring across the just general allocation going into gold, silver by the generalist funds.
And they're crowding out the money, the capital from the seniors.
And those investors that were in seniors are moving into the mid cap and the mid caps are moving into the juniors.
So that is what I see at a high level.
I can go more into detail, but that's essentially what I'm seeing happening.
And that is the telltale sign of a bull market in the junior mining industry.
Really well put.
I want to keep it an open discussion here tonight and get some of these others who have
been along for this gold journey with us.
Amen, Mining Stocks, you both up here.
I want to come over to Amen first.
See your thoughts on everything that Peter just shared. maybe anything you'd want to throw into the mix.
Yeah, I guess what I'll add is during this recent volatility spike we saw in the metals,
right? The miners got disproportionately sold off to the actual underlying. So I did some quick research on what profit margins are now
at 5,000 versus say when these stocks were trading at half the prices they were when gold was at 2,000. And what I found is it's anywhere from their profits increased
six to 10 times from a multiple standpoint, from $2,000 an ounce gold to 5,000. So for me,
these mining stocks, whether it be gold, silver, or copper, are probably set forth
to at least triple from here
is the bold call that I would make
if gold maintains above, say, $4,500.
But that's all I got for now.
I wouldn't disagree with any of that. but that's all I got for now. Yeah.
Peter,
I mean,
I wouldn't disagree with any of that.
I think that depending on,
on each of the companies and the,
the market cap of each of these,
it could go from two to three times up to all the way,
10 times up the in gold,
in my opinion,
doesn't even have to go up or silver doesn't have to go up.
If they stay the same and oil more or less stays the same,
these companies are still going to rock it.
Now, if you take Peter Schiff's opinion of gold going to 25,
I mean, I have no, there's no price target
because today every single mine that I know of
makes a significant amount of money.
Peter Schiff, by the way, agreed with you.
So I was talking to him
and I said, you know, they haven't re-rated these mining companies. Maybe they're valuing them at
3,000, 3,500. And he said, it's not even closer there. He said, max are valuing them out as 2,500,
which means you basically have a 50% underpricing. Yeah, no, absolutely. And if your cost structure
is 1,800 or 2,000 an ounce, every dollar that increase above that is almost straight to the
bottom line. So it's almost vertical in terms of your profitability. Now there's other components
such as price goes up, you have royalties on that. So it's not a perfect one-to-one, but it's close.
one-to-one, but it's close. Yeah, to me, there's not a better asymmetric bet in the entire market
than in the gold and silver asset class, period. Yeah, I think that's true on the fundamental
side. I think one of the components that I have been looking for, and I haven't seen
since probably 2011, so 15 years now, is inflows into the sector, sustained inflows and fund creation.
And at that, in 2010, 2011, 2012, you had three major funds that had blown up and were
going into dissolution. So today it's the complete opposite. There are funds I've seen
a prospectus for a new fund being created. I've heard a prospectus for a new fund get being created. I've heard a major, a major junior mining fund investor and fund manager has left to create his own fund.
So there's a lot of things going on. And, you know, I like to remind all the investors,
what move stocks is not fundamentals, what move stocks is money going into the sector.
So people buying and, you know, there is a correlation between great fundamentals and
people buying, but what really drives stocks is money coming in. Yeah. So let's talk about that
because that was a big part of our lives from the other day was capital flows. Can you walk me
through the data that you're seeing there and why it's so important? I didn't hear the question.
The money coming in.
Basically, there's money finally coming into this industry in mass.
Correct.
Well, I'm not sure in mass.
I think that that is the last stage of a bull market.
And I think we're years away from that.
It doesn't take, particularly the junior market.
Well, if you add all the mining companies in the world, it's only 30% of NVIDIA, right?
So the entire mining, copper, gold, silver, large cap, mid cap, small cap, juniors, all of them together, I don't think gets to $600, $700 billion.
And so it's a small market.
Money will come into it. And if data centers are going to occur and other types of infrastructure is being contemplated to be built to sustain AI or whatever, you will need mining.
And mining is dramatically underinvested.
I do believe that stage where you're getting a mass inflow, as I said, is a few years away.
But it doesn't
take that where a small amount of capital coming in will disproportionately move this market,
and particularly the juniors. Mining stocks. Do you want to jump into the conversation?
Any thoughts here? I know sometimes they're more hanging out and supporting, but here we go.
What's going on?
Hi, guys.
How are you doing?
Thanks for having another gold space.
Yeah, I just want to chime in a little bit there.
I agree with what Peter's been saying, but I just want to chime in on the recent pullback.
I think it was a healthy correction for both gold and especially silver.
Things were getting a bit vertical.
And so this correction, actually quite a few of the gold and silver names sold off pretty well.
And I take it as a buying opportunity.
At these levels, I think we've bottomed.
And I think we might consolidate around here, especially silver, for a little bit around 75, 80.
And get ready for the next leg up.
So it's a buying opportunity. around 75, 80, and get ready for the next leg up.
So it's a buying opportunity, and some of these,
especially some of these smaller producers, in my opinion, if you know what you're doing and your due diligence,
it's a good buying opportunity there.
So I was at a couple of the recent conferences here in Vancouver,
and things were getting pretty euphoric, right,
with the metal price rise, right?
As you guys know in other stocks, when things rise so quick,
it's usually a good time to sell a little bit of your position
and wait for the pullback, and I think it's just healthy.
The market's healthy.
The fundamentals are still really strong in gold and silver.
Physical demand has been really strong in both metals, especially out of China.
But if you go to any local coin shops, it's hard to get your hands on even an ounce of silver at these prices.
So people are still buying, which is a really positive sign in my opinion.
Those are my thoughts for now.
I'll make a comment because I was following pretty closely what was happening on the pullback.
Guy, I had discussed on the last call that I would expect a pullback.
We did get the pullback.
On the miners, you did see them react violently in the first day.
But on the second and third day of the gold-silver pullback, they actually outperformed dramatically.
And that's very typical in the bull market.
So what I'm seeing is exactly
the telltale signs of a bull market. People who know me and have been following me for 12, 13,
14 years knows that I have not called the bull market. God, well, this is the first time in the
last three, four months. And I believe I'm now more confident we are in a bull market. Four months
ago, I wasn't necessarily confident because I really wanted to see the inflows.
I wanted to see the reaction of the market
because the junior market, for example,
raised over $10 billion in 2025,
and that was, or even more than that,
which would have put it as one of the largest years
in capital raising,
but the market has taken that and absorbed that exceptionally.
You're still seeing the juniors pushing higher.
Normally in a bear market,
they'd be down 30, 40%
as all this loose paper starts coming out.
What's your thoughts on people buying
like physical gold and silver
versus utilizing ETFs,
utilizing other things like that?
I mean, you have to be able to protect that gold, right?
So you have to store it somewhere.
And one of the disadvantages of buying physical gold
and why I think Bitcoin got a really nice bid
in the beginning years
was that it was the digital gold.
It was a way of holding and buying
without going through the efforts
of actually buying the gold,
finding a place to store it. And if you store it in your house, you know, making sure you had
enough guns and ammunition to protect it. So I do think there are certain people that
have the ability to do that. I think the diversification is important. I know that
Sprott Securities has a physical gold, excuse me, ETF that stores the physical gold as opposed to the GLD, which is by far the largest, but they use derivatives essentially to buy and hold gold.
So I think I'm a big believer that you buy a little bit of gold physically, but the real play is in the miners.
And if you're speculating or trading it as opposed to buying it physically, there's that
insurance policy, which is buying the gold.
And then after that, there's a trading position.
I'm talking specifically about the trading position.
I agree with those thoughts.
I think that everybody who's starting to invest in gold and silver space as part of their portfolio, physical should be the first step, be it gold or silver or mix.
Again, it depends on each person's personal portfolio.
But if you're holding for the long term, there's nothing better than gold and silver, in my opinion,
especially with the amount of debt the world's in, that kind of thing, right?
So everybody, in my opinion, should be starting with the physical metals.
If you're looking for more liquidity, it could be one of the Sprott ETFs,
like Peter mentioned, the PSLV, because those are actually backed by physical metals,
so you can sell those at any times and then maybe go into the
producer etfs or until you get used to the space because it is tricky to invest in the space
um you're not going to get your monster returns um well your silvers returned pretty good over
the last year but nice small and steady so start physical and then uh get get your feet wet and
then get into some of the mining companies would be my recommendation.
So, and I'll just follow up with you real quick. Obviously, Peter is running a mining company and
I gravitate towards it because I think that they've done a good job in the financing and
structure and a lot of other pieces. I'm curious what you look for when you go after mining
companies. I think those mining stocks, Amen, you know, both just talked to this right now.
Like when you're looking at mining companies,
how do you go about doing your due diligence
to see like what's good and what's bad?
Because even talking with Peter,
he's like,
there's plenty out there
that are terrible investments
and there's some that are going to be amazing.
Yeah, the stats show
that only one in 3,000 mining projects
ever becomes a mine.
So the odds are stacked against you but that's not
saying these companies can do really well if you find the right ones so first thing would be to
find good management um i have taken a look at a2gold since then guys like peter with experience
get on a call with them they're available to talk about their project, ask questions. You want companies, his company is still fairly early stage, but they do have a defined resource.
So first thing would be management.
Talk with them, read about their history.
But everyone's going to tell you that they have the best management team.
So take that into perspective, right?
Nobody's going to say our management team sucks, right?
So look at the insider ownership and what price they paid for their shares a
lot of these companies below a dollar they start off with seed money and they
get penny shares below one cent even so look at the share structure see if they
bought any in the open market so that's the management side is really important
right and then you need to look at the management side is really important, right?
And then you need to look at the geology side,
which is a bit more complicated.
The share structure is really important as well, right?
You get your big runs in these share structures
that aren't completely diluted, right?
But these things are cash-burning machines.
Even Peter's company, right?
They always need to raise money to fund drilling
and that kind of thing, right?
So they burn cash fairly quickly, depending on how many drill rigs they got turning and how deep they're going and that kind of thing, right?
So look at management and then geology, which is tricky to learn, right?
But over time, you get a good understanding of what good drill results are, different type deposit models and that kind of thing, right?
So that's a little bit two cents of my insight on evaluating companies.
Well, I'll give you an insight.
I mean, besides running A2Gold,
I was a fund manager and an analyst for 22 years,
so I have some perspective.
I always start clearly with the management and their track record
and their ability to not only become a management, but also exit and have successful exits.
That to me is the single biggest thing.
The second way I look at, I'll agree with the last speaker, is insider ownership.
Do they buy shares?
Have they bought shares in the open market?
That to me is the single biggest thing. I never look at what they own. I look at how they owned it. Third thing is I look at
jurisdiction. Jurisdiction is important. Making sure that you're able to advance the project,
get a permit, you have your property rights. I've almost always eliminated anyone in any project or any company in a tough jurisdiction.
And that includes Canada, right?
I mean, as an American, I would never invest in any company that has a Canadian project ever because of the way the Canadians have treated the Americans through flow through financing. So like, I would be very, very cautious, and I caution anyone who's not a Canadian to invest in any
company that has a Canadian project. And I've been vilified by saying this, but I'm as a non-Canadian,
meaning I'm an American, and someone who's managed an American fund, you know, be very,
very careful investing in any company that has a Canadian project.
Canada's geology is as spectacular as anywhere in the world, but they have absolutely destroyed their own capital markets through stupid decisions.
And then fourth, I look at, and it's very difficult for an individual investor to do that, is the geology.
But, you know, I just trust the technical team that's there and ensure that those technical teams have not only been able to make discoveries, but also put those projects into production. And the best single biggest way, best way is I call it corporate or institutional support.
So, you know, does that company have investors such as a Barrick or a Newmont or a Kinross or an Anglo Gold?
such as a Barrick or a Newmont or a Kinross or an Anglo Gold,
do they have that support?
Because I can assure you the technical team at Barrick or Kinross or Newmont
has done the due diligence that you don't have to do.
So is Kinross putting money or Barrick putting money into the company?
That's a very good sign.
And then look at their shareholder registry
and see if you have any named investors who really have a good understanding
of the mining industry. In our case, we have Ingolson Snyder, who for me are one of the best.
We have Eric Sprott. We have the Calo Group. We have Kid Ross. We have IAM Gold as investors.
So although you should always do your due diligence, but if you're not a geologist,
then I think you can rely to a certain extent, I think you should be able to rely on the
shareholder table and investors. So those are the five things I look at and I would never have
invested and I never invested in any company and I've invested over a hundred juniors throughout
my life in any of those that didn't meet any of those five requirements.
my life in any of those that didn't meet any of those five requirements.
Appreciate the thoughts there.
And it's a great breakdown from an area of expertise within these companies.
I did see why you were talking.
More people joining the panel.
Welcome, Mish.
How's it going?
I know you had a good conversation last time you were on here with Peter.
Oh, hi.
Sorry, I had to find the unmute unmute button yeah everything's great thanks for having me on
and sorry for being late no problem no worries we're talking here about you know opportunities
in this area within gold silver but specifically also the miners kind of a bit of a ketchup trade
being re-rated as they catch up saying,
hey, the gold's worth $5,000, not $2,500.
But we'd love to just hear your thoughts across the board here on this industry,
which has taken a much-needed pullback and seems to be resetting for the next move.
Yeah, that's exactly what I would say.
I mean, I always go back to the basics when it comes to gold versus silver.
So with gold, we have a situation,
and I've said this over and over again,
but I think it's really important for people to remember
that it is our mirror, right?
And as our reflection, there's a lot of cracks
that the gold still sees.
Still sees geopolitical risk,
still sees the dollar declining,
sees the threat from China about not buying our treasuries,
sees government spending now, of course, with a midterm election coming up, how much money is
Trump going to spend to keep people happy to try to stay popular? Because he's a populist,
that's what he is. You know, looking around, obviously, there's still a lot of central bank
buying. So there's no reason at this point, especially with the threat to fiat currency, to think that, and I was saying $4,800 was a gift, $4,600 was a steal, and that turned out to be the case.
Am I in the camp of people predicting $10,000 gold?
Well, in order for that to happen, it would be really bad news for a lot of reasons. So I'm kind of not hoping
for that, but I certainly would be prepared for 6,000, which is not even that far away,
considering where our high was recently. So that's gold. And like I say, unless peace breaks out,
we figure out how to reduce our deficit and reduce our spending and our debt. And we can, you know, unless we figure out
how to save the dollar and make ourselves popular again throughout the world that we have
kind of in some ways alienated by design in terms of being so US centric, I don't see any reason
for gold to go down. So that's that. And that's why every dip, especially that big dip
that we had, was a gift. Silver, bit of a different story because we know that silver is reacting more
as a supply demand. And with silver's supply, I just read, I forget the CEO's name, but of some
big metal miner company, he said that with the U.S. administration increasing the stockpiles,
that the production peaked in 2016. And so now trying to increase the production is the first
time in decades. And it won't be until 2030 that we might have enough silver again. So that, of
course, supports the miners for number one,
but number two is it also tells us that silver
with all its industrial uses with AI and EVs
and solar and et cetera,
there's no reason for that to go down either.
That ratio got a little crazy.
So that came in a little bit,
but it still hasn't gotten to 1979, 1980 levels.
We got out of silver on just a trailing stop, and we got back in on Friday.
Obviously, today I was very happy to see it go back up.
$80 is kind of now a pivotal level.
And again, I think actually silver has even more potential still than gold.
We get through back over that $100 level.
My next stop would be about
$150, and then we can always reassess. So I guess every bone in my body is bullish.
And the only thing that I really wonder is at what point does some of the cryptos kind of catch up to
that? It's been so out of favor, but I've been really focused on that. Today was a good day,
but it's not enough. I love the way, the way that the oomph behind those thought processes.
Really great having you on stage, Mish, obviously an area of expertise for you here as well. Peter,
any thoughts on what Mish just shared? I thought her comments were actually spectacular. I shared a podcast with her or a space with her, and I thought she was spot on.
I agree with pretty much everything she said.
And I never want to see gold at $20,000.
Not at least in my lifetime, because that portrays something deeply amiss within the system.
And I'm not sure I want to live through that one,
but I love 5,000 gold, 62 oil and $100 silver.
Some of these companies are going to go up 10 times
on those variables.
So, you know, I'll take that all day long.
And clearly if it goes up more than that,
if silver goes to 150, well,
it's game on. These companies are all going to fly. Most of the gold explorers and juniors are going to actually fly because, as I tried to allude to before, the silver byproduct that comes
out or the byproduct of silver coming out basically covers the entire processing and
mining cost for gold. And so you're basically mining gold for free,
net of silver credits. And you know, I'm glad you brought up oil because we weren't really talking about oil, but since you brought it up, I mean, that has also been sort of a surprise if
you looked at what the intention has been with Venezuela and trying to encourage producers to drill and refine, just the opposite, right?
We are now at a point where WTI is at $64 a barrel, not quite at $50.
Now, not quite alarming yet where long oil is well, but it does certainly seem to me
that if you look at just the gold to oil ratio, which a lot of people who have studied commodities look at,
we are going to see $76 of barrel oil as the gold and the silver continue to go up. And again, that's another sort of reflection of what's happening not only geopolitically,
but the other and the worst thing, which would be a decline in the belief of what the administration is doing.
Right now, I think the market is telling us, people think, oh, everything's great economically
in the U.S. We're bringing business back. Everything is wonderful. The tariffs are working.
Of course, Supreme Court hasn't kind of chimed in yet fully. But I think that that's the biggest crack and threat we have to all commodities right
now, which would be a loss of confidence in the whole direction of how this administration goes.
And I'm saying Trump, but it would be Bessent and everybody that's been involved in this whole idea
that we're going to really stay sort of almost isolationist in a way, except for the
way where we need raw materials, then we're going to go in. And so far that I'm not saying that
that's a bad thing or a good thing. I'm just saying if it doesn't work, that could be another
domino effect for all commodities to go into a super cycle. And if it does work, well, that would
be probably very good for the United States. And then we can into a super cycle. And if it does work, well, that would be probably very good
for the United States.
And then we can have a different conversation.
Yeah, I'd be prior to joining the call,
just so you, I can kind of summarize
what my thoughts were,
were very similar to yours.
I thought that the best risk return
in the sector were the miners.
They're pricing in, believe 2500 to 33 000
gold depending on on each stage and what uh um what level they're at but i you know they're there
to me there's no better risk to return that than playing the miners uh if you if you want to go
bullish on gold or even neutral on gold i on another podcast a week ago, week and a half, two weeks ago,
I was actually in Vancouver.
It may have been three weeks ago. I gave a trade of buying the miners
and shorting any of the physical metal
as a hedge against it.
But you don't have to hedge it.
You can be long that as well.
But if I were managing my hedge fund,
that's what I would do.
Taj, I see your hands up if you want to jump in. Yeah, great conversation.
Just a quick question for Peter based on this.
I've been hearing a lot of various thoughts.
Obviously, the price of gold has caught a lot of people's attention, and it's kind of
hard now that everyone has an opinion who actually is an expert. But since you're on the stage or you're in the discussion,
I think it would be great to ask you at times like this, like I'm hearing a lot of people say,
since it will take 18 months or so with actually scaling up production, even if you have rights to
the area, you have permits and so on, that it makes sense for miners to actually sell
off assets, including rights to land and so on, as opposed to trying to mine it, get it
out and get it to market because of uncertainty of where price is going to go.
And it depends which size of the thought you're on, whether it's going to the 20,000 or it
could be near the top.
So what are your thoughts on that necessarily, rather than trying to extract this and get
this out to actually just sell off the rights while price could possibly be at a favorable
time to unload some of those assets?
What are your thoughts on that as a company?
Yeah, that's the complete opposite is actually occurring.
And I speak to all the majors and the mid-majors frequently, at least on a weekly basis.
They're actually going out and acquiring assets. The reason is, as I stated prior to this,
is that these assets are still being valued at 2,500 gold, yet gold's at 5,000. Now,
if a major really wanted to take some money off the table or hedge the risk,
what they would do is they would sell forward gold, which is in contango.
So they're guaranteed even a higher price.
They would lock in that price.
And if they're really smart, they would, even though oil's in significant contango, they would hedge that out as well.
So now they've hedged out their revenue stream and they've hedged out their first or second largest expense item, which is
energy. But selling assets, unless you're moving up the scale and to become a larger miner and you
don't want to be bothered with a smaller producing asset, that's a different story. But they're
clearly and absolutely not selling their assets unless they think those assets don't fit into
their portfolios, meaning
like a new month, which is not going to look at an asset that's only one or two million ounces,
unless they're right next to them. If it doesn't meet that criteria, then they're going to sell
that asset and move to a potential or an asset that has a potential to be a three to five million
or larger deposit. So not seeing it. I'm actually seeing the complete opposite.
And I do speak to, I'll just give you names, Ken Ross, I am gold.
I speak to Heckler, Anglo, Newmont, almost on a weekly basis
in different parts of the groups.
So that's not happening.
And it's not happening and it wouldn't make sense
if there's different ways to hedge out.
If you're nervous about the gold price, there's many better ways to hedge your risk as a major.
I appreciate that thought.
Yeah, because I've been hearing so much.
And again, like I said, everyone's all of a sudden a gold expert.
They're not necessarily in the industry.
So that's something I've heard on quite a few conversations. So I figured I'd throw it out to you since you would know me better than I think
most of the people that I hear things like that from. So I appreciate that short condensed to
the point answer. And I think it was pretty cool. Great question there from Taj as well. I wanted
to check with our host here, Ryan.
Did you have any thoughts you want to get into this combo?
I think we're going to run another 10-ish here.
The one thing I wanted to just follow up on, Peter,
I've heard you mention this once or twice,
but just maybe a little bit more detail.
You were talking about people finding the silver
and that gold was just there as well,
is that a common thing?
Is it something you guys have going on?
I'm just curious.
It's something that kind of stuck out to me
in the conversation that I haven't really researched
or heard much about is the finding the gold
and the silver together maybe for some of these companies.
Well, so gold is usually in almost 99 of my of mines where gold is present
it is the primary metal silver the complete opposite so the amount of the amount of deposits
that are primarily silver are less than 20 so silver usually comes comes in as a byproduct to gold, to zinc or iron, or to lead.
I'm sorry, zinc of lead. It also comes in certain types of copper deposits. But in reality, silver being the primary metal, although given the recent run up in price, and it depends how you define the primary metal,
generally the primary metal is defined on what's the dollar value associated with it. So silver
has gone from, I think, less than 15% of being the primary deposit to, I think, 20, 23, 24%
over a very short period of time. So silver, in the case of certain deposits in Nevada,
it will be a secondary metal metal and you recover that. You
could recover it. So you optimize in a heap leach, which is a relatively inexpensive way of
recovering the gold, as opposed to building a mill and a circuit to recover that through cyanide.
Heap leach is basically you're crushing the rock. You're building essentially a mountain of dirt, of crushed rock and ore.
You put a sprinkler system on top of it, and then you spray a solution, primarily of cyanide
and some other, and water basically are the two, and then it percolates down below. You recover it,
and that's called heap leach recovery. I'm trying to simplify it, but within that recovery,
I'm trying to simplify it. But within that recovery, you'll recover a small percentage
of the silver that's contained. Though today at current prices, that silver that you're
recovering will pay for the entire mining operation, meaning digging, blasting, crushing,
and then the heap leach. All of that will be paid for the entire mining
operation by your silver credits. And the gold that comes out is free, meaning no cost
associated with it. So that 5,000 price is basically 5,000 against zero cost. So henceforth,
gold, silver deposits are very, very valuable when silver takes off like it is. And I agree with Misha, I believe is her name.
I believe that also that silver is going to go significantly higher, which makes the companies like ourselves and operating with gold, silver, not sure it was a concise answer, but silver does come in many, many, many,
and over 80% of the deposits is contained with other metals, primarily gold.
And just one quick follow-up, as it pertains to you guys at 82 Gold,
is there those opportunities there?
Are you mostly looking at the gold, or do you have any of the silver production or anything like that?
So we are looking. We do have a significant silver deposit contained within the gold or do you have any of the silver production or anything like that? So we are looking, we do have a significant silver deposit within contained within the gold.
We're looking at other deposits too that are also silver gold. And, you know, we have, I believe,
the advantage right now at A2 of a large cash balance. So very strong balance sheet and a very
strong currency in our share price relative to the market, which I mean, I guess there's two ways to look at it.
We've gone up a lot. Some people will look at it and say, well, you know, the easy money's kind of been made.
There's cheaper stocks in our peer group. That's kind of true.
But the reality is if we decided to stay standstill and do nothing, that may be a play.
But if we have the business plan of going in there and actually executing that and picking off weaker companies, well, then it becomes extremely accretive.
So it depends how we play our cards is what I'm trying to say.
is what I'm trying to say.
And I think we're in a very, very good position.
And I think we're in a very, very good position.
How we play that or if we're able to execute
the business plan of consolidation of the sector,
that remains to be seen.
We're hopeful, but there's no guarantee
we'll be able to be successful.
Really good question there.
As we're moving towards the end,
first off, I want to thank Mish. mish i hear you're uh joining us from singapore uh as well wanted to thank you
for taking the time while overseas to still tune into the show no i was talking can you hear me
yes i can hear you i was i was i was on a station called cNA Asia First, which is...
I'm...
Singapore, but no.
I'm here in the United States.
Okay.
Actually, I shouldn't complain.
It is gorgeous where I am right now.
No worries.
No worries.
Well, I appreciate you regardless.
Can you hear me?
Yeah, yeah, yeah.
We got you.
Can you hear me?
Uh-oh.
I don't think she can hear me. Can you hear me, guys? yeah, yeah. We got you. Can you hear me? Uh-oh. I don't think she can hear me.
Can you hear me, guys?
Em, do you want to try?
Yeah, I hear you.
And I confused that much.
I was like, I thought you were in Singapore.
I guess you were just on the Singapore news.
I'm sorry.
Can you hear me?
I got you.
I think you got to drop her.
I think you got to drop her down.
Let her get back up.
Hello.
Yeah, drop her down for a sec.
Yeah, we can hear you.
All right.
So then just to kind of the end part of this conversation.
So reminder as well, if people want to learn more about what's happening in gold,
definitely recommend that you check out everything that Peter is doing.
You've heard a lot of his expertise on wisdom while in here.
He's, again, the CEO of A2Gold.
If you want to look that up, just go ahead and type in. I mean, Yahoo Finance in either place, auau.v, A2Gold, to take a look at that. They're up,
like I said, over 50% year to date, over 745% in the past year. And he's just been a wealth of
knowledge for our show. And it's really helped a lot of people, I think, build confidence in this
thematic and also point out where there's alpha to be had.
Peter, is there anything else that we haven't touched on yet that you want to make sure that we cover tonight?
I think I think we've touched on pretty much everything.
And, you know, I've kind of some of it's been repetitive.
The only thing I'll leave you with is that what I've seen and only one thing that has really changed is that I'm starting to see dramatic inflows into the sector, whether that's new fund creation or existing funds receiving inflows,
or third in the biggest category is generalist funds rotating into the sector.
And I'm seeing that.
I'm seeing that from very good friends who run those type of funds.
Very nice. Very nice.
Well, that's exciting to see that money moving into the sector.
I love how you put it.
Hey, the peak of the bull market is still years away.
A lot of opportunity here.
These setups look really good on the charts.
So I appreciate you joining us.
Mish, we got you back up on stage.
I think you can hear us now, right?
All right, no worries.
I think we're going to move into a little bit of wrap-up then.
So, Peter, for those that want to dive deeper into A2 Gold, any resources you would push them towards coming out of the show? Well, we've talked about
there's a lot of podcasts that I've done a lot of interviews. I think you're an amazing source
because you've really dedicated yourself since I've met you three, four years ago into the
sector. I know you visited our properties and, you know, you stood with the company
even when the market wasn't there and you've been handsomely rewarded
or your investors have been handsomely rewarded.
I think that there's a lot, there's far more upside in the sector.
And I go back to the 2002 to 2007 bull market where things went up a thousand,
went down 30%, then up another couple thousand percent.
You know, the resources there, we are covered by a few research firms. You know, I point to the
interviews, contact me directly, peter at a2gold.com. It's very simple. I try to answer all the
emails and messages and speak with others. You know, that's get to know the sector.
We're going to be doing an analyst tour,
a site tour in a few months.
And if you want to be included in visiting the properties
and there's just ourselves,
there'll be other gold mining companies
that will be presenting.
Ken Russell will be there as well.
Let me know, send me a note
and I'll try to get you guys on the list.
You know, I'm not sure how big it's going to be,
but I'll do my best.
Love it. Yeah, I've been I'll do my best. Love it.
Yeah, I've been out there in Tonopah, Nevada.
I've seen the heaps myself.
They're working.
And obviously a great team that Peter has as well.
And, you know, pleasure spending time in person with you.
Thanks, Gavin.
It's been a pleasure.
And, you know, once again, I'm open to any conversation, people that want to educate themselves and learn. Let me know. Thanks again.
Perfect. Amen. Just wanted to give you a chance if you had any final comments on this conversation you wanted to share.
No, no. Thanks again, Peter, for coming by. This is always great to listen to.
coming by. This is always great to listen to. Fantastic. Ryan, I'll let you wrap it up if
there's anyone else you want to check in with or move to just wrapping this one up here.
Yeah, I think we're at a great spot. I would just encourage everyone, follow Peter and check out all
the different stuff he's doing. Follow the other great panelists that joined us up here. Some
really great thoughts. Amen, Mining Stocks. I think Jacob joined us. I know
we had a little audio connection issue there for a little bit. And Mish as well. Vegas hanging out
with us. Taj going to be more and more involved in a lot of these conversations as well, asking
great stuff. Big shout out to everyone. And of course, Jordan up here co-hosting with me and
Gav running a great conversation. Make sure you follow all these wonderful speakers. And as always, this space is recorded.
So the Stock Picks show that ran just about an hour,
just over an hour there in the front half of this space.
You can listen back to all the great market sentiment thoughts
and picks for the week.
And then, of course, in the back half,
the second hour of the conversation,
a great, great deep dive into gold, silver,
the mining processes, some really good stuff shared all across. If you missed
any of it, feel free to listen to that recording as soon as I close this out. And that's it for a
great long day here. Great Monday on Wolf Financial. It was a great Monday. It was, Jordan.
It was awesome. It was. And the market was green. I mean, just pretty good day across the board,
I think, for a lot of things. We'll see what happens the rest of this week.
Tons of growth earnings coming down the pipe,
tons of macro data coming at us
the next several days through Friday.
So we'll see what the markets bring.
We'll bring it all to you live
across the Wolf family of networks,
I guess we should say at this point.
From everything we have,
you can see our main schedule pinned
right here on the Wolf Financial main page there,
that pinned post there.
Has all of our schedule there, all the different live streams we've got going on.
Also, make sure you check out the Wolf Trading, the Wolf Bitcoin channel, and all the other
great channels we have.
We have Wolf Crypto going as well and some other stuff in the background.
Some great content for free, live, pretty much, gosh, not around the clock, but we're
getting close to it
at this point with even our new European show, which will be the next space that you see here
on Wolf Financial first thing tomorrow morning. Tune in for that. And then a full day of all kinds
of great conversations and stuff. We appreciate you tuning in wherever you're at. Have a great
rest of your afternoon or evening or night, and we'll see you guys tomorrow. Take care, everyone.
Thank you, everybody. Thank you.
