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The Canadian Insider blog discusses news and insight found among executive and significant shareholder filings in Canada.

Follow Nicholas Winton who runs gohht.com for market insight and great stock ideas.

Follow the smart money in the mining industry with the Power Prospectors blog.

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INK Top Mining & Crypto-equities Report: Institutions cannot see it yet

From the February, 2024 INK Top 20 Mining & Crypto-equities Report - Next week, the hard rock mining industry will gather in Toronto for the annual Prospectors and Developers Association of Canada convention. We expect there may be a sense of frustration that many mining shares have not followed the gold price to new highs. Looking at the market-cap weighted mining benchmarks and ETFs, that does appear to be the case.

The February INK Top 20 Mining & Crypto-equities Report

However, if one looks in a different direction, there is a more optimistic picture.

The US dollar merry-go-round

From the January 30, 2024 INK Top 20 Mining & Crypto Equities Report - The US dollar has enjoyed a rally of sorts over the past month, primarily on the back of a reassessment of the number of interest rate cuts the Federal Reserve is expected to deliver. Last fall, traders were betting on up to six rate cuts this year, but that has been revised to three because of stickier inflation, or so the story goes.

Ride image by Rusty Watson

In our view, there are circumstances at work that will impact Fed policy that extend well beyond the central bank's stated mandate of targeting 2% inflation or full employment. While the central bank will have to strive for those two mandates over the medium term, there are two new immediate objectives the Fed must achieve.

Resource stocks gain traction as geopolitics dominate markets

So far, Canadian stocks are helping investors navigate the risky waters of 2024. The INK Canadian Insider Index advanced 0.9% last week, leaving it up 1.4% in the new year. The gains took place despite a rough start for big Basic Materials stocks with the S&P/TSX Capped Materials Index down 2.0% for the year. In a notable divergence, the S&P/TSX Venture Index, which is a proxy for junior mining, has advanced 0.6% year-to-date.

The INK Canadian Insider Index is leading in early 2024 (click for larger)

 

Retail investors appear more optimistic than institutions about the prospects for mining and other materials names.

INK Top 100 issuers with December buybacks

We have published the INK top 100 issuers with buybacks in December. The list can be retrieved in worksheet format in INK Chat and will be incorporated into the January 13th workbook to be compiled on Saturday.

As a reminder, every Saturday we post the top 30 INK Edge up and down movers for the week and plus the outlook rankings of all stocks in our Canadian universe in the INK Chat workspace #stock_ideas channel. In that report, every Saturday after the 10th of the month we also include the 100 issuers with the most buybacks for the previous month as estimated by INK. Issuers have until the 10th day of the subsequent month to file their repurchases. A full list of our US rankings is included on the last Saturday of the month. 

Canadian Insider Club members who have signed up to receive our newsletters, please check your inbox for a copy of the December top buybacks list. If you are not a Club member, check out the benefits and join us today for access.

INK Canadian Insider Index outpaces US markets, notches 19% gain in 6 weeks

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index rose a modest 2.06 points to 1266.92, adding 0.2% to bring total gains over the past 6 weeks to 19%.

Our long-term momentum indicator, MACD, fell 3 points to -2.23 and our short-term momentum indicator, RSI, dipped 2.7 points to 76.41. Support is at 1250 and 1238. Resistance is at 1283.83 (upper Bollinger band) and 1273.

INK Canadian Insider Index booms 2.1% higher

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index rose another 26.35 points for a 2.1% gain as it closed at 1264.86. The INK CIN has now rocketed an impressive 18.9% over the past 5 weeks.

INK Canadian Insider Index beats gold and silver in scorching 16.8% one-month rally

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index resumed its relentless uptrend and added 33.36 points to finish the week at 1238.51 for a gain of 2.8%. Over the last month, the INK CIN has generated a blistering run of 16.8% in gains.

INK Canadian Insider Index beats gold, silver, and US markets, surges 14% in 3 weeks

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK CIN kept up its torrid pace rising 35.5 points, or 3%, to finish at 1205.15. Indeed, over the last 3 weeks, the Index has jumped nearly 150 points or 14%.

INK Canadian Insider Index soars 11% in two weeks

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index which is used by the Horizons Cdn Insider Index (HII).  Last week, the INK CIN rocketed another 47.29 points, or 4.2%, to close at 1169.65. In the past two weeks, the Index has melted up over 118 points and 11%.

Our short-term momentum indicator, RSI doubled its prior week's move and soared 8.45 points to 70.06. MACD nearly doubled, rising 4.81 points to 9.70. Both MACD and RSI are at their highest levels in many months.

Support is now at 1118 and 1108 (lower Bollinger band). Resistance is at 1170 and 1180.

INK Canadian Insider Index Soars 6.8% as Commodities Melt-up

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index turned on the jets and powered 71.56 points higher or 6.8% to close at 1122.36.

A six-month high Friday (click for larger)

Our short-term momentum indicator, RSI, erupted over 50% to 61.61. MACD our long-term momentum indicator shot up 14.82 points to 4.89. And the sharp fall in readings we noted indeed gave way to a major reversal last week.

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