Blogs

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Following the Nov 8th US elections which anointed outspoken reality-TV kingpin and real estate mogul Donald Trump as the president-elect, the Index moved inverse to the huge rally in the US markets and followed the sell-off in gold, as it tumbled 31 points or nearly 3% to 1087.65.

For David Grenville (Gren) Thomas, the big score was the discovery of Diavik by his Aber Resources more than 20 years ago.

Thomas and his partners headed north and got to work in the early days of the staking rush following Chuck Fipke’s 1991 discovery of diamonds in the Northwest Territories. It took a few years, but in 1994 and 1995, Aber discovered the kimberlite pipes that became Diavik, Canada’s second diamond mine. Diavik, still producing, is a joint venture between 60% owner Rio Tinto (RIO*US) and Aber successor Dominion Diamond (DDC) (40%).

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index began by bouncing up and off its 20-day moving average toward the 1140 level, only to see its progress halt short of 1137.

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index made a brief run toward the 1140 area last week but fell short at 1136 and then fell back to its 20-day moving average at 1120. For the week, the Index finished down 7.4 points to close at 1122.04.

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index finally found its footing last week, paralleling strength in the TSX Composite Index (which quietly notched a new 2016 high) and in mining stocks which rose 3%. The INK Canadian Insider Index put together an impressive week, as it rocketed 24.3 points or 2.2%, regaining all of its losses over the past 3 weeks.

Earlier this week in a business comment I upset some media colleagues by saying that we were witnessing not only a major decline in US democracy but also a death blow to the mainstream media as we know it.

Obviously that's a broad generalization, but I think it's valid.

In a previous blog, we suggested we'd see a rally for miners into the end of September. Mining stocks did rise about 10% from the end of August until about Sept 22nd. Unfortunately for the bulls, heavily piled up short positions as evidenced through commitments of traders reports took their toll on gold, and the miners themselves were pulled under their support, toppling 18% to their recent lows.

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index spun its wheels and traded in a close range last week as it chopped up and down. By week's end, the Index had scarcely regained ground on the 24 points it lost 2 weeks ago and rose just 1.4 points to close at 1105.13.