The Dow and the S&P 500 are having their best month since October 2011. The NASDAQ is having its best month since October 2002.
You read that correctly. Unemployment claims have passed 26 million here in the U.S., millions around the world are wondering when or if they'll be able to get back to work, and governors are warning their states could be headed towards "Armageddon" (their words, not mine) if they don't receive more federal assistance due to the coronavirus pandemic.
Yet the stock market keeps surging higher.
What gives? It's simple, the economy is not the stock market and our government and the Fed have made clear that corporations will be prioritized before people during this economic collapse.
Sure, Ruth's Chris gave back the $20 million that was "allocated" to it by JP Morgan, but only after public shaming and a lawsuit claiming that the banking giant prioritized its well-connected and publicly traded corporate clients over privately-owned small businesses.
JP Morgan would never, right? If you think that's bad, Google Monty Bennett.
In the real world the state of New Jersey has said that within four to six weeks it would likely be facing a severe cash shortage that could mean teachers and police officers - you know, real people - might go unpaid.
But hey, Netflix and chill, right?
So what to do? I'll tell you what I'm doing. I'm using this slight pullback in gold to add to my commodity stock exposure.
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Gold and uranium names are being given priority. I've also recently written checks for higher-risk/higher-reward copper explorers.
It's not just me. The big money that's been missing in the space is slowly but surely realizing that trillion-dollar bailouts won't stop anytime soon.
Silvercrest (NYSE: SILV) (TSX: SIL) recently closed an oversubscribed non-brokered private placement for C$101 million.
MAG Silver (NYSE: MAG) (TSX: MAG) just announced a C$60 million private placement with Eric Sprott, making it his largest single investment in the silver space.
While MAG and Silvercrest are rightfully reaping the benefits of a new precious metals bull market, the bulk of the junior resource space still trades lower than it did a year ago.
That's the opportunity, but not one I believe will last for long. Move on it while you can.
To your wealth,
Gerardo Del RealEditor, Junior Mining Monthly and Junior Mining Trader.
For the past decade, Gerardo Del Real has worked behind-the-scenes providing research, due diligence and advice to large institutional players, fund managers, newsletter writers and some of the most active high net worth investors in the resource space. Now, he is bringing his extensive experience to the public through Outsider Club, Junior Mining Monthly, and Junior Mining Trader. For more about Gerardo, check out his editor page.