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Gold = "Insurance... tends to do well when nothing else does" Gold Was once 8% of Portfolios in US, is now like 0.3% The Vital Part Gold Plays in an Investor's Portfolio (w/ Rick Rule) "Historically, when people were afraid, they went to Gold.. Now they go to US treasuries" (for the timebeing) "One wonders whether we will see a liquidity crisis, when the world is awash in liquidity" (but in a Solvency crisis, things change) "Bear markets are the authors of Bull markets, and Bull markets are the authors of Bear markets." Bizarrely (to me the founder of this GEI website), GLD/Gold ($140.0) and TLT/Treasuries ($140.0) are now near the same price. If we (eventually) see weak USD, and rising rates, this relationship may change dramatically GLD/Gold vs TLT/Treasuries-LT etf ... 10yr: 5yr: 2yr: 1yr: 6mo: 10d / Last: $142.56 @ 11/1/19 GLD /Gold vs. TLT, EUR ... from.10/08/18 : 10d / Last: $142.56, $140.56 (r-101.4%), $1.117  Ratio: 1.014 : GLD/ TLT : $142.56/ $140.56 (r-101.4%)

JHK's future scenario might match that of Robert Prechter : James Howard Kunstler – We May Not Have a 2020 Election > === Howe & Strauss who have looked at Generational Cycles are more optimistic In the first part of this three-episode series, Real Vision co-founder Grant Williams sets out on another journey of discovery. Williams goes on the road to speak with Neil Howe, author of “The Fourth Turning.” According to Howe, there’s plenty to learn about the future by looking at the past. Kicking the series off, the two consider the ironic phenomenon whereby human actions intended to mitigate natural cycles actually tend to exacerbate the downturns in those cycles. Looking at generational patterns, cultural trends, and the cyclical nature of history, Howe and Williams discuss the challenges that the combination of cycles and human hubris pose to markets and to society. Filmed on April 3, 2019 at several locations in the Washington area, including Neil’s home and Great Falls National Park on the Potomac River in Great Falls, Virginia. Pt1.: The Fourth Turning Explained - Boomers vs Millennials Generational Crisis (Neil Howe Grant Williams) Pt2.: Generational Power Transfers During Political Crisis (Grant Williams, Neil Howe, Harald Malmgren)

STOCKS STILL in Bull Market? Upside breakout is possible As of last week, Tony C's daughter, Christine, saw the upwards move in Stocks still underway LONG TERM: Uptrend consolidating In the US, the long-term count remains unchanged with the Super Cycle SC2 low in March 2009. The Primary wave I high occurred in May 2015 and Primary wave II low in February 2016. Primary wave III has been underway ever since and the Major wave 1 high of Primary wave III occurred in October 2018. Our preferred long term count is posted on SPX, which reflects that Intermediate wave i of Major wave 3 is underway from the Major wave 2 low in December 2018 and continues to subdivide into Minor, Minute and now Micro waves. We modified our long term status to identify that the uptrend is consolidating and that remains until Major wave 3 can clearly breakout of the overlapping wave structure. Our alternate count for a potential breakdown is posted on the DOW in the public chart list. MEDIUM TERM: Uptrend SPX continued the rally this week to reach 3027, just one point shy of the all-time, before pulling back to finish the week at 3022. > more: Weekend Report / Posted on October 27, 2019 by Christine Caldaro Not all agree, like these posters: Jim Guthery says: November 1, 2019 at 12:05 pm Gann’s 90-year cycle 09/2019 to 03/2020. Or maybe he was just overhyped? What ushers next if his theories are correct could coincide with Fiona’s “hasty manner.” But 3090 could come soon. It’s tough trying to play vix products. But when this puppy starts you can see 20 to 30% pops in a day. == SPYtrader says: November 1, 2019 at 5:23 pm M Wags, Still no Buy signal for me. As I mentioned before, I never buy at the bottom. From my vantage point the trend is still down. I will leave the lower targets and the higher targets to others. The best scenario for me would be it goes into a trading range for weeks to several months and then breaks higher. I’m still interested in owning it for a more longer term investment. gtoptions says: November 1, 2019 at 5:39 pm You’re only down 26%. Liked by 2 people M Wags says: November 1, 2019 at 6:07 pm You're a funny guy GT! My account statement says otherwise… +2,707.91% to be Exact.

USO : $11.69 +0.39, +3.45% / x4.807 = WTI: $56.20 WTI Crude. : $56.20 +2.02, +3.73% Brent Crude: $61.69 +2.07, +3.47% ==> Prices: https://oilprice.com/oil-price-charts GLOBAL MARKETS-Shares, crude prices rise on US, China ... Reuters-9 hours ago Crude prices rise on hopes for U.S.-China trade deal ... NEW YORK, Nov 1 (Reuters) - World equity markets surged and crude oil prices jumped on ... Brent crude rose $2.07 to settle at $61.69 a barrel, while WTI crude settled ... Both Brent, the global benchmark, and U.S. benchmark West Texas Intermediate rose more than 3%. Brent crude rose $2.07 to settle at $61.69 a barrel, while WTI crude settled up $2.02 to $56.20 a barrel. The dollar slid as optimism that the United States and China will reach a deal to end their trade war reduced safe-haven demand for the greenback. . . . A Reuters survey showed that oil prices are likely to remain pressured this year and next. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year. Meanwhile, US crude production soared nearly 600,000 barrels per day in August to a record of 12.4 million, buoyed by a 30 per cent increase in Gulf of Mexico output, according to government data released on Thursday. Those numbers came as a Reuters survey found output f .. Read more at: //economictimes.indiatimes.com/articleshow/71845649.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst A Reuters survey showed that oil prices are likely to remain pressured this year and next. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year. Meanwhile, US crude production soared nearly 600,000 barrels per day in August to a record of 12.4 million, buoyed by a 30 per cent increase in Gulf of Mexico output, according to government data released on Thursday. Those numbers came as a Reuters survey found output f .. Read more at: //economictimes.indiatimes.com/articleshow/71845649.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst A Reuters survey showed that oil prices are likely to remain pressured this year and next. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year. Meanwhile, US crude production soared nearly 600,000 barrels per day in August to a record of 12.4 million, buoyed by a 30 per cent increase in Gulf of Mexico output, according to government data released on Thursday. Read more at: //economictimes.indiatimes.com/articleshow/71845649.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Big Oil Under Pressure To Cut Production By 35% Nov 01, 2019 at 10:33 | Irina Slav Big Oil companies need to reduce their oil production by 35 percent by 2040 in order to preserve shareholder value in a changing world, think-tank Carbon Tracker has warned.… 

US Stocks Coming at an Extreme.. and a Turning Point? - Last hurrah possibly? Watch SOXX over the next few days, for signs of a turn. Maybe we have seen the last cut in Interest rates (on Thursday) in this cycle (Is bellwether Phillippines PSEI already past its peak? @8,400, now <8,000: chart ) SOXX vs. SPY, IWM ... 6mo : 10d / Last : 229.50 +5.15, +2.30% : SPY: 306.14 +0.93%. R- 75.0% Ratio: SOXX to-SPY: R- 75.0% Look at VIX, the Volatility Index (12.3%).... seemingly on the bottom of a range, like TZA & FAZ TZA, vs. VIX, FAZ ... update : 10d / Last: $40.97, 12.3% - 6.96%, $31.71 Straddles (SPX: $306.14 / IWM: $158.10 / r: 193.6% / vix: 12.3% ) SPX: Call + Put = Dec : - pct. / Call + Put = J’20 : pct. / Call + Put = Feb. : pct. / 310: $3.15+$7.35=10.50: 3.43%/ $4.43+$8.73=13.16 : 4.30%/ $6.60+10.47=17.07: 5.58%/ 306: $5.37+$5.36=10.73: 3.51%/ $6.73+$6.93=13.66: 4.46%/ $8.99+$8.81=17.80: 5.82%/ 302: $8.18+$3.99=12.17: 3.98%/ $9.45+$5.58=15.03 : 4.91%/ 11.68+7.58=19.26: 6.29%/ Days: 48 days ( /36.3%: 9.67% ) / 76 days ( /45.6%: 9.78%) / 111 days ( /55.1%: 10.6%)/ === IWM: Call + Put = Dec : - pct. / Call + Put = J’20 : pct. / Call + Put = Feb. : pct. / 163: $1.27+$6.39=$7.66: 4.85%/ $2.05+$7.07= $9.12: 5.77%/ $3.16+$7.94=11.10: 7.03%/ 158: $3.52+$3.52=$7.04: 4.46%/ $4.47+$4.44=$8.91: 5.64%/ $5.71+$5.46=11.17: 7.07%/ 154: $6.25+$2.14=$8.39: 5.31%/ $7.11+$3.06= 10.17: 6.04%/ $8.29+$4.05=12.34: 7.81%/ Days: 48 days ( /36.3%: 12.3% ) / 76 days ( /45.6%: 12.4%) / 111 days ( /55.1%: 12.8%) / === ( Soxx: $229.50, TZA: $40.97. TNA: $62.69 ) Soxx: Call + Put = Dec : - pct. / Call + Put = J’20 : pct. / Call + Put = Feb. : pct. / 230: $6.85+$8.10=14.95: 6.51%/ $8.85+10.00=18.85: 8.21%/ Days: 48 days ( /36.3%: 17.9% )/ 76 days ( /45.6%: 18.0%) / 167 days ( /67.6%: ???%) / === TZA: Call + Put = Dec : - pct. / Call + Put = J’20 : pct. / Call + Put = Apr. : pct. / $36: $5.62+$0.59=$6.21: 15.2%/ $5.95+$1.19=$7.14: 17.4% / $41: $2.71+$2.78=$5.49: 13.4%/ $3.38+$3.75=$7.13:17.4%/ $5.45+$6.23:11.68: 28.5%/ $45: $1.53+$5.62=$7.15: 17.4%/ $2.24+$6.58=$8.82: 21.5% / Days: 48 days ( /36.3%: 36.9% ) / 76 days ( /45.6%: 38.2%) / 167 days ( /67.6%: 42.2%) / === TNA: Call + Put = Dec : - pct. / Call + Put = J’20 : pct. / Call + Put = Apr. : pct. / $58: $6.88+$2.44=$9.32: 14.9%/ $7.75+$3.55=11.30: 18.0%/ $63: $3.80+$4.30=$8.10: 12.9%/ $4.70+$5.52=10.22: 16.3%/ $7.46+$8.48=15.94: 25.4%/ $67: $2.06+$6.60=$8.66: 13.8%/ $2.86+$7.68=10.54: 16.8%/ Days: 48 days ( /36.3%: 35.5% ) / 76 days ( /45.6%: 35.8%) / 167 days ( /67.6%: 37.5%) / === Tza-Tna "straddle"--------> tna$63c:4.70:7.50%+tza$41c:3.38:8.24%=>15.74% /.456= 34.5%pa /jan'20:12.4%= R2.78 vs. 3x gearing

USO : $11.69 +0.39, +3.45% / x4.807 = WTI: $56.20 WTI Crude. : $56.20 +2.02, +3.73% Brent Crude: $61.69 +2.07, +3.47% ==> Prices: https://oilprice.com/oil-price-charts GLOBAL MARKETS-Shares, crude prices rise on US, China ... Reuters-9 hours ago Crude prices rise on hopes for U.S.-China trade deal ... NEW YORK, Nov 1 (Reuters) - World equity markets surged and crude oil prices jumped on ... Brent crude rose $2.07 to settle at $61.69 a barrel, while WTI crude settled ... Both Brent, the global benchmark, and U.S. benchmark West Texas Intermediate rose more than 3%. Brent crude rose $2.07 to settle at $61.69 a barrel, while WTI crude settled up $2.02 to $56.20 a barrel. The dollar slid as optimism that the United States and China will reach a deal to end their trade war reduced safe-haven demand for the greenback. . . . A Reuters survey showed that oil prices are likely to remain pressured this year and next. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year. Meanwhile, US crude production soared nearly 600,000 barrels per day in August to a record of 12.4 million, buoyed by a 30 per cent increase in Gulf of Mexico output, according to government data released on Thursday. Those numbers came as a Reuters survey found output f .. Read more at: //economictimes.indiatimes.com/articleshow/71845649.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst A Reuters survey showed that oil prices are likely to remain pressured this year and next. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year. Meanwhile, US crude production soared nearly 600,000 barrels per day in August to a record of 12.4 million, buoyed by a 30 per cent increase in Gulf of Mexico output, according to government data released on Thursday. Those numbers came as a Reuters survey found output f .. Read more at: //economictimes.indiatimes.com/articleshow/71845649.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst A Reuters survey showed that oil prices are likely to remain pressured this year and next. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year. Meanwhile, US crude production soared nearly 600,000 barrels per day in August to a record of 12.4 million, buoyed by a 30 per cent increase in Gulf of Mexico output, according to government data released on Thursday. Read more at: //economictimes.indiatimes.com/articleshow/71845649.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst Big Oil Under Pressure To Cut Production By 35% Nov 01, 2019 at 10:33 | Irina Slav Big Oil companies need to reduce their oil production by 35 percent by 2040 in order to preserve shareholder value in a changing world, think-tank Carbon Tracker has warned.…

BTU & Coal broke down (on BTU's earnings)... while XLE looks better on rising USO XLE-etc ... wk-fr.-1/2016 : 1/2018 : w/OIH /Last USO-etc ... 12 mo / ==

BTU & Coal broke down (on BTU's earnings)... while XLE looks better on rising USO XLE, XOP-etc ... wk-fr.-1/2016 : 1/2018 : w/OIH /Last USO-etc ... 12 mo / ==

Pengrowth plunges PGF.t /Pengrowth ... update / Last; 0.05 - 0.15 C:*MKTOIL - Energy Summary for Nov. 1, 2019 [2019-11-01 20:45] Pengrowth plunges as it accepts a heavily discounted takeover offer from Cona Resources (which itself has some experience leaving investors underwater). Cenovus plans production boosts in the oil sands. MEG Energy and Baytex Energy talk debt reduction. more... 2019-11-01 09:54 C:PGF 0.05 News Release Pengrowth agrees to $740M acquisition by Waterous unit PENGROWTH ENERGY CORPORATION ANNOUNCES TRANSACTION WITH CONA RESOURCES LTD. Pengrowth Energy Corp. has entered into a definitive arrangement agreement with Cona Resources Ltd., a portfolio company of Waterous Energy Fund, pursuant to which the purchaser has agreed to repay the outstanding principal amount and accrued interest to the date of the arrangement agreement owing under the company's credit facility and secured notes, and acquire all of the outstanding common shares for cash consideration of five cents per share and a potential contingent value payment (as defined herein) for each Pengrowth share. The proposed transaction is to be completed by way of plan of arrangement under the Business Corporations Act (Alberta). Speaking on behalf of Pengrowth's board of directors, chairman Kel Johnston noted: "As a result of the significant decline in oil prices in 2014, which followed on the heels of the largest capital project in Pengrowth's history at Lindbergh, the company took immediate steps to shore up the company's balance sheet by selling assets to pay down $1.2-billion of debt. Further efforts were undertaken in 2018 to market an additional overriding royalty on the Lindbergh asset and to secure high-yield debt to replace the current outstanding secured debt. Both funding initiatives proved unsuccessful. The extreme volatility in the price of Western Canadian oil in the fall of 2018, coupled with an uncertain political and regulatory environment, has led to a severe funding crisis in the Canadian energy capital markets, which impeded the company's ability to achieve a funding solution." Pete Sametz, president and chief executive officer of Pengrowth, continued: "With the inability to raise capital to fund our ongoing business, Pengrowth commenced a strategic review process in the first quarter of 2019 with the main alternatives being to source alternative forms of financing, to negotiate an amendment and extension to the secured debt, or to pursue a transaction to merge or sell the company that would provide value to all stakeholders. With continued lacklustre oil pricing and increased political and regulatory uncertainty, our ability to achieve an amendment and extension agreement proved increasingly difficult and dilutive to shareholders. As a result, Pengrowth's board of directors has determined that the best available alternative for the company and its stakeholders is to pursue and support a consensual sale transaction that, in addition to repaying the secured debt, would also provide some measure of value for our shareholders and other stakeholders. Despite the discount this transaction represents to Pengrowth's recent trading price, we strongly recommend our stakeholders support the arrangement agreement as it represents the most attractive alternative for all stakeholders given the current environment where there is essentially no access to capital for the company or participants in the Canadian oil and gas industry in general." The aggregate value of the transaction, including the repayment of the secured debt and the assumption of the transaction costs by the purchaser, is approximately $740-million. As part of the consideration to be received by Pengrowth shareholders, each shareholder will be eligible to receive their pro rata portion of any finances that may be received by Pengrowth as a result of a pending litigation matter.

Key Statistics : 8.015 CAD +0.341 +4.44% 3 Month Return -7.54% / YTD Return. -7.39% 1 Year Return. -32.81% / 3 Year Return. -26.94% / 5 Year Return. -18.18% Nav (On 11/01/2019) 8.01 Ninepoint Fund's Top 10 Holdings @ 11/1/19 NamePositionValue% of Fund ========================: C$8.01, +4.44%: PER, Yield% MEG Energy Corp MEG:CN 2.4000M 12.0480M 12.13%: $ 5.45, +7.71% / -N/A, -N/A- Crescent Point Energy CPG:CN 2.5000M 10.8250M 10.90%: $ 5.03, +4.57% / -N/A, 0.80% Baytex Energy Corp. BTE:CN.5.2000M 10.5560M 10.63%: $ 1.59, +8.16% / -N/A, -N/A- Cenovus Energy Inc. CVE:CN 900.000K 10.3950M 10.46%: $11.44, +1.96% / 19.3, 2.19% Parsley Energy Inc. PE:US. 400.000K. 9.9578M 10.02%: $16.40, +3.73% / 17.7, 0.73% Enerplus Corp. ERF:CN 1.0000M 9.8500M. 9.91%: $ 8.27, +4.03% / 4.59, 1.45% Encana Corp. ECA:CN 1.4000M. 9.4080M. 9.47%: $ 5.44, +5.43% / 3.53, 1.82% WPX Energy Inc. WPX:US 600.000K 9.0438M. 9.10%: $10.17, +1.90% / 5.86, -N/A- Whitecap Resources WCP:CN. 2.0000M 8.5000M. 8.56%: $ 3.84, +4.63% / 29.1, 8.91% Kelt Exploration Ltd. KEL:CN. 1.5000M 5.8500M 5.89%: $ 2.97, +3.13% / 29.6, -N/A- USO / US Oil etf ------- : USO compare: $11.69, +3.45% / === === XLE / Energy Select- : XLE. compare: $59.28, +2.28% / === === === > https://www.bloomberg.com/quote/SPROENEF:CN CHARTS #1: MEG, CPG, BTE, CVE / 5yr: 2yr: 6mo - Last: C$5.45, C$5.03, C$1.59, C$11.43 #2: PE.us, WPX.us, (USO) / 5yr: 2yr: 6mo - Last: $16.40, $10.17, $11.69 #3: ERF, ECA, WCP, KEL / 5yr: 2yr: 6mo - Last: $8.27, $5.44, $3.84, $2.97 == Sym. Company-- : Last-$ : E.P.S. PER : Yield: BkVal: MkCap: Debt: ebitda: EV.e D/ebi: Pr/BV BTE.t Baytex Egy: C$1.59 : (0.23) -N/A: 0.00%: $5.57: $887M $1.93b 1.02b r2.76 r0.00: 29.% CNQ.t Can.Nat.Rs: $34.08 : $3.99 8.54: 1.50%: 28.84: $40.4b $25.4b 9.94b r6.53 r2.56: 118% ECA.t EncanaCorp C$5.44 : $1.03 5.30: 1.92%: $7.44: $7.32b $8.39b 3.57b r4.36 r2.35: 73.% ERF.t Enerplus Cp C$8.27 : $1.81 4.57: 1.51%: $8.36: $1.91b $672M 894M r2.60 r0.75: 99.% IMO.t Imperial Oil: $33.08 : $3.60 9.20: 2.68%: 31.29: $25.2b $00.0b 4.36b r5.77 r0.00! 106% WCP.t WhitecapRs C$3.84: $0.13 29.7: 9.32%: $7.49: $1.59b $1.24b 842M r3.39 r1.47: 51.% WPX. Baytex Egy: C$0.00 : $0.00 0.00: 0.00%: 00.00: $00.0b $00.0b 0.00b r0.00 r0.00: 000% ====

Sandspring Resources proposes name change to Gold X Mining Corp., a share consolidation of 8 to 1 and formation of Strategic Advisory Board GlobeNewswire DENVER and VANCOUVER, British Columbia, Oct 29, 2019 (GLOBE NEWSWIRE via COMTEX) -- - Paul Matysek and Brian Paes-Braga, former Lithium X executives, join Strategic Advisory Board - Strategic Advisory Board to spearhead capital markets and corporate development initiatives - Share consolidation intended to provide greater access for global institutional investors Sandspring Resources Ltd. (SSP)(otcqx:SSPXF) ("Sandspring" or the "Company") is pleased to announce the formation of a Strategic Advisory Board to assist the Board of Directors and management with corporate and shareholder value creation. Former Lithium X executives, Paul Matysek and Brian Paes-Braga, are the founding members. Mr. Matysek said, "The Toroparu Project represents a world class opportunity for leveraging gold price momentum into shareholder value. Its size, at 7.4 million ounces of gold with significant copper and silver credits, its advanced development stage status, its potential mine financing from Wheaton Precious Metals, and its long-term relationship with the Guyanese government and local population, all provide investors with substantial opportunity for value creation in this gold environment. I'm looking forward to working with the refocused and freshly branded Gold X Board, Management and my fellow Advisor." Mr. Matysek is a serial entrepreneur, geochemist and geologist with over 40 years of experience in the mining industry. Since 2004 as CEO or Chairman, Mr. Matysek has primarily focused on the exploration, development and sale of five publicly listed companies, in aggregate worth over $2 billion. Most recently, he was Executive Chairman of Lithium X Energy Corp., which was sold to Nextview New Energy Lion Hong Kong Limited for $265 million in cash. Mr. Matysek was President and CEO of Goldrock Mines Corp., which sold to Fortuna Silver Mines in July 2016. He was previously CEO of Lithium One, which merged with Galaxy Resources of Australia to create a multi-billion-dollar integrated lithium company. He served as CEO of Potash One, which was acquired by K+S Ag for $434-million cash in a friendly takeover in 2011. Mr. Matysek was also the co-founder and CEO of Energy Metals Corp., a uranium company that grew from a market capitalization of $10 million to approximately $1.8 billion when sold in 2007. Mr. Paes-Braga said, "It's an exciting time to be advancing natural resource projects in Guyana as the country is experiencing generational growth with the recent discovery of rich offshore oil fields. Billions of dollars are presently entering the country via large international energy companies eager to responsibly develop these resources. As a significant shareholder and insider, I look forward to working with Paul, the Gold X team, Guyanese government, Wheaton Precious Metals, and our major shareholder, Gran Colombia, to advance Toroparu for the benefit of our shareholders, the local community, and Guyana." Mr. Paes-Braga is a Principal at SAF Group, a leading structured credit and merchant banking firm that builds, finances and advises high growth companies, providing flexible, long-term capital solutions to businesses and stable returns for investors. Previously, Mr. Paes-Braga was Founder and CEO of Lithium X Energy Corp., a lithium resource company which, within 2.5 years, raised approximately $53 million and was acquired in an all-cash deal for $265 million. Mr. Paes-Braga is an active philanthropist, sitting on the Advisory Council of the International Crisis Group and supporting several charities and research groups through his private family foundation, Quiet Cove Foundation. Mr. Paes-Braga is also the Chair of the Board of Directors of Thunderbird Entertainment, a member of the Board of Directors of DeepGreen Metals, and a lead investor in Nude Beverage Group. Commenting on the formation of the Strategic Advisory Board, Rich Munson, CEO of the Company, said, "Greg Barnes, our Executive Vice President Operations, and I are very excited to gain access to Paul and Brian to move Sandspring and its flagship Toroparu Project forward. Their unique skillsets, together with those of our new Executive VP Finance / CFO, Bassam Moubarak, provides us with a world class team to guide ongoing development of the world class gold resource at Toroparu. The new focus and rebranding at this time of renewed interest and strength in the gold market will significantly enhance and refresh the long term focus Greg and I have had on unlocking the value of the Toroparu Project to the benefit of all of our longstanding and new shareholders." The Company further announces an aggregate grant of 7,275,000 stock options to certain directors, officers, employees, and consultants of the Company exercisable at $0.27, expiring 10 years from the date of grant, subject to regulatory approval. Name change and share consolidation The Company announces its intention to change its name to Gold X Mining Corp. following its annual general meeting and to consolidate its shares on an 8 to 1 basis. The Company's rationale for consolidating its shares is to become more accessible to global institutional investors.

Great Quarter... on Discontinued Ops Murphy Oil Corporation (NYSE: MUR) today reported financial and operating results for the quarter ended September 30, 2019, including net income attributable to Murphy of $1.1 billion, or $6.76 per diluted share. Adjusted net income, which excludes discontinued operations and other one-off items, was $57 million, or $0.36 per diluted share. As previously announced, Murphy closed the Malaysia asset divestiture in the third quarter for $2.0 billion in cash proceeds. These assets were reported as “discontinued operations” and classified as “held for sale” for financial reporting purposes beginning with the first quarter 2019. Unless otherwise noted, the financial and operating highlights and metrics discussed in this commentary exclude discontinued operations and noncontrolling interest.1 THIRD QUARTER 2019 RESULTS The company recorded net income, attributable to Murphy, of $1.1 billion, or $6.76 per diluted share, for the third quarter 2019. The results include a gain on the divestiture of Malaysia assets of $960 million. Adjusted net income, which excludes both the results of discontinued operations and certain other items that affect comparability of results between periods, was $57 million, or $0.36 per diluted share for the same period. The adjusted income from continuing operations excludes both the gain on the Malaysian asset sale and the following primary after-tax items: a $39 million mark-to-market non-cash gain on crude oil derivatives and a $22 million mark-to-market non-cash gain on contingent consideration. Details for third quarter results can be found in the attached schedules. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations attributable to Murphy was $438 million, or $24.65 per barrel of oil equivalent (BOE) sold. Adjusted earnings before interest, tax, depreciation, amortization and exploration expenses (EBITDAX) from continuing operations attributable to Murphy was $450 million, or $25.35 per BOE sold. Details for third quarter EBITDA and EBITDAX reconciliations can be found in the attached schedules. Beginning with the third quarter 2019, Murphy is disclosing weighted average realized prices excluding transportation, gathering and processing expenses. A separate line item on the income statement reports transportation, gathering and processing expenses. Comparative periods have been conformed to current presentation. Murphy continued to realize premium pricing in the third quarter 2019, with Eagle Ford Shale oil prices registering above $58 per barrel and North America offshore prices approaching $61 per barrel, both excluding the impact of commodity hedges. In the third quarter, more than 94 percent of the company’s oil volumes were sold at a premium to the average West Texas Intermediate (WTI) price of $56.45 per barrel. Third quarter production averaged 192 MBOEPD with 66 percent liquids. Overall, production was impacted by non-operated, unplanned downtime of 2,600 BOEPD in offshore Canada and 1,400 BOEPD in the Gulf of Mexico, partially offset by higher than anticipated volumes of 500 BOEPD from operated Gulf of Mexico assets and 1,000 BOEPD in Kaybob Duvernay. Details for third quarter production can be found in the attached schedules. “Our company is performing exceptionally well. With a significant gain on sale of nearly $1.0 billion, we have the Malaysia divestiture behind us and are pleased to complete our first quarter as a transformed and streamlined Murphy. As an oil-weighted, Western Hemisphere focused company, our primary operations in the Gulf of Mexico and Eagle Ford Shale continue to achieve low operating costs and strong realized prices, driving healthy EBITDA given their prime access to premium markets,” stated Roger W. Jenkins, President and Chief Executive Officer. FINANCIAL POSITION Murphy repurchased an additional $106 million of outstanding shares in the third quarter, with the remaining $94 million under the authorized $500 million stock repurchase plan acquired in the fourth quarter, marking completion of the program. Since the beginning of the program on April 30, 2019, the company has reduced its outstanding shares by approximately 12 percent, or 20.7 million shares, from 173.6 million shares to 152.9 million shares outstanding as of October 4, 2019.

Another giveaway deal to Mr Sprott - but it could help the stock price (a pity the guys like me who get in before him do not get the same deal) Gran Colombia to raise $15-million from Eric Sprott 2019-10-30 11:03 ET - News Release Mr. Serafino Iacono reports GRAN COLOMBIA GOLD ANNOUNCES $15 MILLION STRATEGIC INVESTMENT BY ERIC SPROTT Eric Sprott has agreed to purchase 3,260,870 units of Gran Colombia Gold Corp. in a non-brokered private placement at a price of $4.60 per unit, representing a 4-per-cent discount to the five-day volume-weighted average price of $4.79 for the period ended Oct. 29, 2019, for a total investment of $15-million. The proceeds of the private placement will be used for general working capital and corporate purposes. Closing of the private placement is subject to the receipt of regulatory approvals, including the Toronto Stock Exchange, and is expected to close two business days following receipt of such approval. Each unit consists of one common share and one common share purchase warrant exercisable into a full common share at $5.40 per share for a period of four years from the date of issuance. Serafino Iacono, executive chairman of Gran Colombia, stated: "On behalf of the board and management of Gran Colombia, I am pleased to welcome Mr. Eric Sprott as a major investor in our company. Our success in the turnaround of Gran Colombia has led to an increase in gold production, earnings and free cash flow, and has strengthened the company's financial position. In September, we were recognized in the inaugural TSX30 based on the increase in our share price over the last three years. We see the investment by Mr. Sprott, a well-known gold investor, as solid endorsement of the potential for further appreciation in Gran Colombia's shares. We are about to ramp up our near-mine and regional exploration programs at our high-grade Segovia operations with approximately 70,000 metres of drilling over the next 18 months and we are unlocking value in our Marmato project through a spinout to a separate-listed vehicle, in which we will maintain a control position, to fund a major underground mine expansion. We look forward to the relationship with Mr. Sprott as we continue to execute our strategy."

Philippines Real Interest Rates & Inflation x YrEnd: PHP/$ : Gold : PHgold : +1yr % : PSEI : +1yr %: PS/oz. Realir: iRate: CPI.i : 1990 : 28.00 : $392.8 : 10.99k: ===== : 651. : ==== : 0.059: 9.87% 1991 : 26.67 : $353.2 : P9420: - 14.3%: 1,152.: +77.0%: 0.122: 5.62% 1992 : 25.32 : $332.9 : P8429: - 10.5%: 1,256.: +9.03%: 0.149: 10.7% 1993 : 27.79 : $391.8 : 10.89k: +29.2%: 3,196.: +155.%: 0.293: 7.35% 1994 : 24.15 : $383.3 : P9257: - 15.0%: 2,786.: -12.8%: 0.301: 4.61% 1995 : 26.21 : $387.0 : 10.14k: +9.54%: 2,594.: -6.90%: 0.256: 6.63% 1996 : 26.29 : $369.3 : P9709: -4.25%: 3,171.: +22.2%: 0.327: 6.67% 1997 : 37.17 : $290.2 : 10.79k: +11.1% : 1,869.: - 41.1%: 0.173: 9.46% 1998 : 39.07 : $287.8 : 11.24k: +4.17%: 1,969.: +5.35%: 0.175:-4.58% 1999 : 40.62 : $290.3 : 11.79k: +4.91%: 2,143.: +8.84%: 0.182: 4.78% 2000 : 49.90 : $272.7 : 13.61k: +16.6%: 1,495.: -30.2%: 0.110: 4.92% 2001 : 51.79 : $276.5 : 14.32k: +5.22%: 1,168.: - 21.9%: 0.082: 6.49% 2002 : 53.52 : $347.2 : 18.58k: +29.7%: 1,018.: - 12.8%: 0.055: 4.78% 2003 : 55.45 : $416.3 : 23.08k: +24.2%: N/A - : ==== : ====: 6.08% 2004 : 56.18 : $435.6 : 24.57k: +6.46%: N/A - : ==== : ====: 4.32% 2005 : 53.61 : $513.0 : 27.50k: +11.9%: 2,096.: ==== : 0.076: 4.12% 2006 : 49.47 : $632.0 : 31.27k: +13.7%: 2,983.: +42.3%: 0.095: 4.60% 2007 : 41.74 : $833.8 : 34.80k: +11.3%: 3,622.: +21.4%: 0.104: 5.43% 2008 : 48.09 : $869.8 : 41.83k: +20.2%: 1,873.: -48.3%: 0.045: 1.12% 2009 : 46.42 : 1087.5 : 50.48k: +20.7%: 3,053.: +63.0%: 0.060: 5.64% 2010 : 43.95 : 1405.5 : 61.77k: +22.4%: 4,201.: +37.6%: 0.068: 3.31% 2011 : 43.65 : 1531.0 : 66.83k: +8.19%: 4,372.: +4.07%: 0.065: 2.54% 2012 : 41.01 : 1657.5 : 67.97k: +1.71%: 5,813.: +33.0%: 0.086: 3.64% 2013 : 44.10 : 1204.5 : 53.12k: - 11.9%: 5,890.: +1.32%: 0.111: 3.65% 2014 : 44.69 : 1206.0 : 53.90k: +1.47%: 7,231.: +22.8%: 0.134: 2.30% 2015 : 47.23 : 1069.0 : 50.59k: - 6.15%: 6,984.: - 3.42%: 0.138: 6.20% 2016 : 49.82 : 1145.9 : 57.09k: +12.8%: 6,841.: - 2.05%: 0.120: 3.88% 2017 : 50.39 : 1291.0 : 65.05k: +13.9%: 8,558.: +25.1%: 0.132: 3.23% YrEnd: PHP/$ : Gold : PHgold : +1yr % : PSEI : +1yr %: PS/oz. Realir: 2018 : 52.77 : 1279.0 : 67.49k: +3.75%: 7,466.: - 12.8%: 0.111: 2019 : 50.71 : 1516.8 : 76.92k: +14.0%: 7,815.: +4.67%: 0.102: 2020 : 48.01 : 1898.0: 91.12k: +18.5%: 7,140.: - 8.64%: 0.078: 2021 : 51.00 : 1829.8: 93.32k: +2.41%: 7.123.: -0.24%: 0.076: 2022 : 55.68 : 1814.0: 101.0k: +8.23%: 6,566: - 7.82%: 0.065: 1/’23 : 54.43 : 1928.0: 104.8k: +3.79%: 7,052: +7.40%: 0.067: ==== > Interest Rate source: https://ycharts.com/indicators/philippines_real_interest_rate

Traders History Lesson. If you like history and how to manage through it, this was pretty fascinating. And how he found tools to help him spot EXTREMES IN SENTIMENT : Why Today's Market Is Unique But Signals a Coming Recession (w/ Tony Greer and Nick Sofocleous)

Ugh! BTU : $12.48 -3.42, -21.48% Thank God, I was out, when Q3 was announced Sym.: Company—— : Last— : chg, % -chg. : Low- : High / Yr.H- : chg. % BTU : Peabody Coal:$12.48 -3.42, -21.48%: 12.41: 15.14/ 37.37 : -66.6% CCR : Consol. Coal.: $10.38 -1.70, -14.07%: 10.37: 12.20/ 21.13 : -50.9% Ceix : ConsolEnergy:$14.01 - 0.54. - 3.71%: 13.63: 14.41/ 41.98 : -66.6% Teck : Teck Res.— :$16.97 - 0.06. - 0.35%: 16.75: 17.11/ 25.75 : -34.1% USO : US Oil Fund- :$11.58 - 0.07, - 0.60%: 11.42: 11.67/ 14.16 : -18.2% Ngas: Wtr Natgas- :$ .026 +0.001 +4.85%: .0253: .0256/.0515 : -49.5% ==== 10-day : === Date ET Symbol Type Headline 2019-10-29 07:59 U:BTU News Release Peabody Reports Earnings For Quarter Ended September 30, 2019 2019-10-22 16:32 U:BTU News Release Peabody U.S. Mines Recognized With National Awards For Safety And Reclamation Excellence 2019-10-16 17:00 U:BTU News Release Peabody announces quarterly dividend per share of $0.145 Third Quarter 2019 Results Third quarter 2019 revenues totaled $1.11 billion compared to $1.41 billion in the prior year driven by a 36 percent decline in seaborne metallurgical coal sales volumes and approximately $90 million in lower pricing, excluding the impact of higher Kayenta revenues. Depreciation, depletion and amortization (DD&A) declined $28.1 million compared to the prior year primarily due to lower contract amortization expense and final recognition of Kayenta Mine expense. Selling, general and administrative expense (SG&A) decreased 17 percent from the prior year to $32.2 million largely due to a reduction in personnel costs. Transaction expenses related to the PRB/Colorado joint venture totaled $8.2 million in the third quarter and are included within Adjusted EBITDA. The company also recorded a $20.0 million impairment charge related to its Wildcat Hills Mine in the Illinois Basin, which is expected to cease operations. The company expects this action to be cash accretive. Earnings from equity affiliates totaled a loss of $20.7 million, reflecting the cumulative impact of a delay in resuming and then ramping up production at the independently operated Middlemount joint venture in Queensland following a highwall failure in late June. Combined, these impacts resulted in a loss from continuing operations, net of income taxes of $74.3 million compared to $83.9 million in the prior year and diluted loss per share from continuing operations of $0.77 compared to diluted earnings per share of $0.63 in the prior year. Third quarter Adjusted EBITDA totaled $150.3 million versus $372.1 million in the prior year, reflecting previously announced effects of pricing, shipments and lower Middlemount earnings.

ROLLING OVER? Led by MEG possibly MEG / Megaworld... vs.AGI, PSEI ... update / Last: P4.80 -0.04, -0.83% / MEG is weaker than PSEI (7,972, +0.21%), and may be sliding away from resistance near P4.95 > 10d I think MEG is right now a key bellwether to watch, since it was the strong property sector which has helped to hold up the PSEI, after it made a record high back in Jan. 2018 PSEI (7,972, +0.21%) - maybe be backing off from "round number" resistance at 8,000

ROLLING OVER? Led by MEG possibly MEG / Megaworld... vs.AGI, PSEI ... update / Last: P4.80 -0.04, -0.83% / MEG is weaker than PSEI (7,972, +0.21%), and may be sliding away from resistance near P4.95 > 10d I think MEG is right now a key bellwether to watch, since it was the strong property sector which has helped to hold up the PSEI, after it made a record high back in Jan. 2018 PSEI (7,972, +0.21%) - maybe be backing off from "round number" resistance at 8,000 STOCKs - in terms of Gold prices Here's the chart for US Stocks, the S&P 500 in Gold ounce - shows the "echo bounce" since 2016 and earlier  How much? The SPX is now near 2.0x Gold oz, but could be rolling over into a deeper slide  Similar chart for Philippine Stocks vs Gold xx This is imperfect. since I divide the Php price of PSEI by Gold in in US dollars. However, It also shows a stock rollover may be underway

2019-10-29 09:07 ET - News Release Mr. Marz Kord reports WALLBRIDGE EARNS 20% OWNERSHIP OF LONMIN CANADA INC THROUGH OPERATORSHIP AGREEMENT AND CREATES SEPARATE COPPER-NICKEL-PGM GROUP Wallbridge Mining Company Ltd. has signed a definitive letter agreement whereby Lonmin Ltd. (a wholly owned subsidiary of Sibanye-Stillwater) has appointed Wallbridge as operator of Lonmin Canada Inc.'s Loncan, a wholly owned subsidiary of Lonmin Ltd.'s Lonmin advanced-stage Denison property. Pursuant to the terms of the agreement, Wallbridge has received a 20-per-cent ownership interest in Loncan and a seat on Loncan's board of directors. A copy of the agreement can be found on the company's SEDAR profile. "This agreement complements Wallbridge's strategy of separating its gold and base metal assets and enables work on the Sudbury-area properties to be funded entirely within privately held Loncan. Distinct operating teams will advance development of our Fenelon gold property and will work to unlock the value of our copper-nickel-PGM assets separately. The agreement allows our existing, dedicated, Sudbury-based team to continue their work of generating value from the copper-nickel-PGM assets with resources independent of those driving our gold strategy," stated Marz Kord, president and chief executive officer of Wallbridge. "With the entering into of the agreement, I am also very pleased to announce that Francois Demers, vice-president, mining and projects of Wallbridge, has been appointed to lead all Wallbridge matters as they relate to Loncan in addition to Wallbridge's existing joint venture agreements with Lonmin." Aside from the existing joint venture agreements with Wallbridge, Loncan owns 100-per-cent mining interest in the Denison property, which was previously part of Loncan's Sudbury platinum group metals joint venture agreement with Vale Canada Ltd. Loncan's Denison property highlights: Significant historic resources of typical contact and footwall-type Ni-Cu-PGM mineralization of potential economic grades. All resource reports were internal company resource estimates that were generated for different orebodies on the project without following National Instrument 43-101 requirements and represent an excellent opportunity to compile into a global NI 43-101 resource; Highlight intersections from drilling in recent years (currently not part of any resource estimate) include 1.69 per cent Ni, 2.28 per cent Cu and 2.37 grams per tonne platinum, palladium and gold (total precious metals, TPM) over 8.23 metres in the 99 Shaft zone, and 1.87 per cent Ni, 0.95 per cent Cu and 3.14 g/t TPM over 6.16 m in the 109 West zone; Advanced-stage property, near-term to production with a current closure plan; Historic shaft (4,000-foot Crean Hill mine shaft) and underground infrastructure in place. "The first order of business will be to combine all historic resources on the Denison property into one complete NI 43-101 compliant resource estimate and to complete an economic study," stated Mr. Demers.

WM.t hit a high of C$0.64 yesterday Closed at $0.53 - 0.06, -10.17%, on 2.48M shares Ratio to GCM hit 13.6%, closed at 11.3% - may retrace to 10% or lower possibly

GCM-Log... / 12mo : Support is about C$4.50... and about $4.00 Since Aug. 2018 Ratio: GCM-toGold Ratio: WM.t to-GCM.t https://imgur.com/2Dn3fUz Was selling into that rally yesterday (@ 56, 57, 58 cents & I may regret it.) Have shed over half my WM stock in the last few days

Amaia expands in Bacolod. AMAIA LAND is launching a new condominium project in Bacolod City, Negros Occidental. AMAIA LAND is launching a new condominium project in Bacolod City, Negros Occidental. The affordable housing unit of Ayala Land, Inc. is developing Amaia Scapes North Point, which offers studio and deluxe residential units. 3 hours ago This month, Amaia Scapes introduced a new modern unit series called the Townhome, which has sizes ranging from 45 to 80 square meters (sq.m.) and Bungalow Pod New Gen, which are sized from 60 to 85 sq.m. The 3,625-sq.m. project is located along San Juan St., Barangay 8, Bacolod City. Residents will have easy access to commercial and medical establishments, transport stations, and an upcoming ALI commercial development. Bacolod-Silay International Airport is just 13 kilometers away. Amaia Scapes North Point’s facilities include a swimming pool, a children’s pool plus play area, landscaped garden, and a multi-purpose venue for the use of residents and their guests. It also has 102 parking slots. > https://www.bworldonline.com/amaia-expands-in-bacolod/

LETTING The Inflation Genie out of the Bottle... First helps, then hurts stocks Pattern: Stocks rally thanks to easy money, then inflation brings higher Gold & commodity prices, and rising interest rates - which choke off the stock rally, bringing a stock crash "The SILENT CRASH" : Here's a powerful chart from Robert Prechter's Conquer the Crash book Prechter's chart shows a longer history. My chart for S&P500 (SPX) and PSEI goes back to only 1990. I found was that the Rise and fall in PSEI was of a similar overall magnitude, but was faster And what is also interesting is the fact, PSEI LED the SPX by about three years Type : Period—: yr: Psei --------- Pct. / Gold ---------- Pct. / Ps-Au ---------- Pct.: Phase Rise1: 1990-96: 6 : P651>3171: +387%/ 11.00-9.71k: - 11.7%/ 0.059-0.327: +454%: Stock phase Fall.1: 1996-08:12: 3171 >1873: - 41.%/. 9.71k-41.83: +331%/ 0.327-0.045: - 86.2%: Gold phase Rise2: 2008-15: 7 : 1873>8558:+357%/ 41.83-50.49: +20.7%/ 0.045-0.138: +207%: stocks outperform Fall.2: 2015-'19: 4 : 8558>7779: - 9.1%/ 50.49-77.40: +53.3%/ 0.138-0.101: - 26.8%: gold outperforms ==== Type : Period- : yr: SPX ---------- Pct. / Gold ----------- Pct. / Ps-Au ---------- Pct.: Phase Rise1: 1990-99: 9 :$330>1,469: +345%/ 392.8> 290.3: -26.1%/ 0.841-5.061: +502%: Stock phase Fall.1: 1999-11:12: 1469>1258: -14.4%/ 290.3> 1531.: +427%/ 5.061-0.821: - 83.8%: Gold phase Rise2: 2011-18: 7 : 1258> 2701: +115%/ 1531> 1279.: -16.5%/ 0.821-2.112: +157%: stocks outperform Fall.2: 2018-'19: 1 : 2701>2977: +10.2%/ 1279> 1485: +16.1%/ 2.112-2.004: -5.12%: gold outperforms ==== Sidestepping the stock crash(es) was achieved...by Buying Gold Rise-1 was a time when stocks appreciated fast / But Gold was weak: PH: +387% in 6 yrs (+30.19% pa) for PH stocks. / -11.7%= -2.06% pa.> US: +345% in 9 yrs (+18.04% pa) for US S&P500 / -26.1%= -3.30%pa. > The trends reversed dramatically in 1st Fall... PH: +000% in 12yr (- 00.0% pa) for PH stocks ./ US: +000% in 12yr (- 00.0% pa) for PH stocks ./ I have called the second, weaker rally the "echo rally"

GOLD versus (Philippines) STOCKS: Current level iof PSEI is about 10% of the Gold price … Calculated like this... PSEI ( 7,947) / Gold ( $1507 x 51.14= Php 77.07k)= 0.103 Oz. Simple Rule of thumb for Recent Range may be: Expect approx.10% of an Gold Oz to buy you the PSEI. Or: One Ounces buys approx. 10x the PSEI GOLD, Monthly prices since 2000 : $1507 x 51.14= P77,070 PSEI / Phil. Stock Index, since 1988: 10yr.: 5yr.: 1yr. / LAST: 7,947 - chart w/o Labels SIMPLE RULE? worked since about 2000... Buy PSEI below 0.080 oz. / Sell PSEI above 0.120 - or something like that YrEnd: PHP/$ : Gold : PHgold: +1yr % : PSEI : +1yr % : PS/oz. 1990 : 28.00 : $392.8 : 10.99k: ===== : 0,651.: ===== : 0.059: 1991 : 26.67 : $353.2 : P9420: - 14.3%: 1,152.: +77.0%: 0.122: 1992 : 25.32 : $332.9 : P8429: - 10.5%: 1,256.: +9.03%: 0.149: 1993 : 27.79 : $391.8 : 10.89k: +29.2%: 3,196.: +155.%: 0.293: 1994 : 24.15 : $383.3 : P9257: - 15.0%: 2,786.: - 12.8%: 0.301: End of Millennium "HIGH" for PH stocks?? 1995 : 26.21 : $387.0 : 10.14k: +9.54%: 2,594.: - 6.90%: 0.256: 1996 : 26.29 : $369.3 : P9709: - 4.25%: 3,171.: +22.2%: 0.327: 1997 : 37.17 : $290.2 : 10.79k: +11.1%: 1,869.: - 41.1%: 0.173: 1998 : 39.07 : $287.8 : 11.24k: +4.17%: 1,969.: +5.35%: 0.175: 1999 : 40.62 : $290.3 : 11.79k: +4.91%: 2,143.: +8.84%: 0.182: 2000 : 49.90 : $272.7 : 13.61k: +16.6%: 1,495.: - 30.2%: 0.110: 2001 : 51.79 : $276.5 : 14.32k: +5.22%: 1,168.: - 21.9%: 0.082: 2002 : 53.52 : $347.2 : 18.58k: +29.7%: 1,018.: - 12.8%: 0.055: 2003 : 55.45 : $416.3 : 23.08k: +24.2%: N/A - : ===== : =====: 2004 : 56.18 : $435.6 : 24.57k: +6.46%: N/A - : ===== : =====: 2005 : 53.61 : $513.0 : 27.50k: +11.9%: 2,096.: ===== : 0.076: 2006 : 49.47 : $632.0 : 31.27k: +13.7%: 2,983.: +42.3%: 0.095: 2007 : 41.74 : $833.8 : 34.80k: +11.3%: 3,622.: +21.4%: 0.104: 2008 : 48.09 : $869.8 : 41.83k: +20.2%: 1,873.: - 48.3%: 0.045: LOW: only 0.045 Oz will buy the PSEI index 2009 : 46.42 : 1087.5 : 50.48k: +20.7%: 3,053.: +63.0%: 0.060: 2010 : 43.95 : 1405.5 : 61.77k: +22.4%: 4,201.: +37.6%: 0.068: 2011 : 43.65 : 1531.0 : 66.83k: +8.19%: 4,372.: +4.07%: 0.065: 2012 : 41.01 : 1657.5 : 67.97k: +1.71%: 5,813.: +33.0%: 0.086: 2013 : 44.10 : 1204.5 : 53.12k: - 11.9%: 5,890.: +1.32%: 0.111: 2014 : 44.69 : 1206.0 : 53.90k: +1.47%: 7,231.: +22.8%: 0.134: 2015 : 47.23 : 1069.0 : 50.59k: - 6.15%: 6,984.: - 3.42%: 0.138: 2016 : 49.82 : 1145.9 : 57.09k: +12.8%: 6,841.: - 2.05%: 0.120: 2017 : 50.39 : 1291.0 : 65.05k: +13.9%: 8,558.: +25.1%: 0.132: 2018 : 52.77 : 1279.0 : 67.49k: +3.75%: 7,466.: - 12.8%: 0.111: 9/’19 : 52.11 : 1485.3 : 77.40k: +14.7%: 7,779.: +4.19%: 0.101: = 10.1% of an Gold Oz req'd to buy PSEI ===== Sources: PesoCross.XL > www.bsp.gov.ph/statistics/excel/pesocross.xls

GLOBAL STOCKs - in terms of Gold Here's the chart for US Stocks, the S&P 500 in Gold ounce - shows the "echo bounce" since 2016 and earlier How much? The SPX is now near 2.0x Gold oz, but could be rolling over into a deeper slide Similar chart for Philippine Stocks vs Gold This is imperfect. since I divide the Php price of PSEI by Gold in in US dollars. However, it also shows a rollover may be underway Comparison: https://imgur.com/7XcM3xX