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The Canadian insider blog discusses news and insight found among insider and significant shareholder filings in Canada.
 
Ted Dixon is co-founder and CEO of INK Research. He is the creator of the INK Canadian Insider Index, and is the editor of the daily Morning INK and weekly Market INK reports. He is a regular contributor to the Globe and Mail's Globe Investor pages and has also worked as a part-time lecturer in corporate finance at the British Columbia Institute of Technology. Before starting INK, he worked at the Connor, Clark & Lunn Financial Group where his responsibilities included portfolio strategy and product development. He has also been an analyst at the Fraser Institute and a treasury specialist at the TD Bank. He is a Chartered Financial Analyst and member of CFA Vancouver. He holds an MBA in Financial Management from the University of Chicago, and a Bachelor of Commerce from UBC. Listen to his weekly economic commentary on Vancouver's Roundhouse Radio FM 98.3.
 
Victor Wong is a business and client development associate at Canadian Insider and an avid market watcher.
 
Nicholas Winton contributes technical commentaries on the INK Canadian Insider Index. Nicholas also writes the High on the Hog blog.

 

 

Will it take a Fed accident to boost gold?

For those investors who look to gold for inflation protection, it seems they are prone to selling gold when they believe the Fed is going to at some point start raising interest rates. On the other hand, they tend to buy gold when the Fed is expected to get looser. That is what INK has found in this month's Gold Top 20 Stock Report in looking at the relationship between forward gold prices and our monetary tightening indicator. So what does this mean for gold prices now?

INK Research Announces Semi-Annual Review of the INK Canadian Insider Index

 

Vancouver, November 9, 2018 - INK Research (INK) announces changes to the INK Canadian Insider Index as a result of the rules-based semi-annual review. These changes will be effective at the close on Friday, November 16, 2018.

ADDITIONS (Name and Symbol)

Aimia Inc. (AIM)
Alaris Royalty Corp. (AD)
American Hotel Income Properties REIT LP (HOT.UN)
Barrick Gold Corporation (ABX)
Cineplex Inc. (CGX)
Clearwater Seafoods Incorporated (CLR)
Dundee Precious Metals Inc. (DPM)
Element Fleet Management Corp. (EFN)
Gibson Energy Inc. (GEI)
MTY Food Group Inc. (MTY)
North American Construction Group Ltd. (NOA)
Wesdome Gold Mines Ltd. (WDO)

DELETIONS

Will S2 Resources deep Nevada drilling give Coral Gold a boost?

Coral Gold shareholders may be keeping a close eye on drilling activity at the Renaissance Gold (REN) Ecru project which is located just to the north east of the Barrick Gold (Sunny; ABX) Robertson project. As John Kaiser explains in his November 7th Discovery Watch broadcast, Renaissance has optioned up to 70% of the project to Australia-listed S2 Resources which has a drilling program underway now that includes deep target holes.

Image source: Renaissance Gold

The silver lining in short data

Insiders can help make sense of short selling data when it is released in the middle and at the end of every month. There are three general scenarios that can arise. First, if a stock is seeing both short covering and insider buying, we have two positive pieces of information leading to a bullish consensus.

Insiders stop short of signalling a floor is in for US stocks

As we have written before in this report, we believe that for the market to regain its footing and march to new highs before year-end in the face of higher bond yields, financial stocks will have to lead. Typically, banks and insurance companies benefit from higher long-term interest rates and a growing economy. If they cannot outperform now with US growth above trend and long rates rising, something is likely wrong beneath the surface of the market landscape. On that front, we have seen some relative good news over the past month with the Financial Select Sector SPDR ETF (XLF) falling 3.8% which is less than the broad SPDR S&P 500 ETF (SPY), off 4.4%. Unfortunately, both are down for the period so it is hard to get too excited about the relative leadership, but at least it is a start.

Sound bites: Spences Bridge Gold Belt is back on the map

Today marks the return of our Sound Bites feature where we will be highlighting distinct commentary and opinions from Howe Street radio and possibly some other sources. To kick things off, we look at recent exploration activity in the Spences Bridge Gold Belt which John Kaiser of Kaiser Research reviewed in his November 1st Discovery Watch.

Click to listen to the interview

Westhaven Ventures (Sunny; WHN) stock soared after it announced on October 17th that it had drilled 17.77 metres of 24.50 g/t gold at its Shovelnose project located in the Spences Bridge Gold Belt of south central British Columbia. That followed an earlier promising hole that was reported on October 2nd. According to Kaiser:

Players in the Financials are the ones to watch even as cannabis insiders tiptoe back into stocks

In my latest interview with Jim Goddard, I explore how insiders are behaving during this period of transition as the Fed moves to tighten financial conditions after a decade of easy money. Based on our indicators, there are a few bright spots in North America, but generally the insider response to the market correction has been tepid.

INK Canadian Insider Index Tumbles 2.4% after Hitting Wall at 1260 Resistance

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index seemed near a change of pace ahead of trading last week, as momentum indicators appeared to break a 4-month downtrend.  Indeed, the INK CIN even managed to turn up as high as 1264.01.  However, the Index could neither maintain its nascent burst of energy, nor its support in the 1240s and plunged downward in waterfall fashion to end the week at 1218.27 for a 29.5 point drop for a loss of 2.4%.

INK Canadian Insider Index: Momentum Indicators Halt 4-Month Downtrend

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The INK Canadian Insider Index continued to grind higher, even as copper and US Markets retreated slightly. The INK CIN registered its second positive week in a row and gained 2.31 points to close at 1247.79.

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