Canadian Insider

John Kaiser from Kaiser Research starts off his June 19th Discovery Watch broadcast with a colourful take on the current bidding war between Agnico Eagle Mines (Cloudy; AEM) and Osisko Mining (Mixed; OSK) spin-out O3 Mining for Alexandria Minerals (AZX). The prize is Alexandria's Cadillac Break Properties located in Val d'Or Quebec, and Kaiser wouldn't be surprised to see another bidder surface before all is said and done. In the second section of the broadcast, John Kaiser reports that Midland Exploration (Cloudy; MD) has started its summer 2019 exploration campaign in search of copper on its Mythril project in the James Bay area of Quebec.

In my June 20th interview with Jim Goddard from HoweStreet.com, I reviewed two buy signals we have put out this month in the resource area, specifically on the gold group in our June 3rd market report and, more recently, on the Basic Materials sector last Friday. I also point out that a strong Canadian dollar was good for junior miners who raise money in Canada for gold exploration offshore because their loonies will go further in local currencies.

With more inflation on the horizon, junior mining stocks are looking good

Ahead of the Fed rate decision, I thought I would share on Canadian Insider our take on the state of North American equities. Here is our analysis that we sent out to INK subscribers this morning in our weekly US market report.

Update  (adds solution implemented) - Our US stock quote data provider IEX has implemented some changes that have resulted in us not receiving US stock quotes. As a result, neither the US quote price nor the data snapshot at the top the US company pages is being fully displayed. We are working on a solution.

The reflation trade got a shot in the arm ahead of a big Fed meeting Tuesday and Wednesday. We tackle the question of whether the rally can last in this week's edition of Insights. Meanwhile, our Broadcast of the Week sets the stage for the long-awaited decision by Ottawa on the fate of the Trans Mountain pipeline. Finally, our insider of the week has been buying up shares in an oil patch company that just announced a big buyback program. Click here to read.

In a bullish development for Canadian Basic Materials stocks, our sector indicator peaked late last month. Generally, indicator peaks which reflect peak insider buying often take place around share price lows.

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In our June Top 40 Report, Pot is out and peas are in, we noted that insider sentiment in the pot-stock heavy Pharmaceuticals industry was not sending a bullish signal and suggested more weakness or consolidation ahead for cannabis stocks. Since the report, the Horizons Marijuana Life Sciences ETF (HMMJ) is flat as of late Thursday morning. Meanwhile, the longer-term trend continues to look weak with the ETF trading below its 200-day moving average.

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Insider sentiment does not suggest a reversal in the downward trend any time soon. Our 30-day Pharma Indicator has yet to put in a clear peak which would signal peak insider buying. Typically, peak buying coincides with stock price lows.

(Update 3 - removes reference to Gmail; advises that the block has tenatively been removed, explains watchlist ordering on website) We have had inquiries from users who have Outlook.com, Live.com and Hotmail.com accounts asking why they are not getting email alerts and reports. This is due to an issue beyond our control, and due to an algorithm at Microsoft which began blocking our emails on or around June 1st for some Outlook.com. Live.com, Live.ca and Hotmail.com email addresses.

We all know that history may not repeat, but it can rhyme. So, is it 2018 all over again? We tackle that question in this week's edition of Insights. In our June 10th newsletter, you will also find our Broadcast of the Week that features Hilliard Macbeth on the likely path of the Canadian housing market while our Insider of the Week is a Canadian brokerage executive who has just spent more than half a million dollars buying an out-of-favour industrial stock.

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