The KE Report

TG Watkins - Market Realism vs. Narrative: What the Charts Say About Gold, Silver GDX, Copper, Tech, the USD

In this Daily Editorial, I sit down with TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot website and YouTube channel, to parse through the noise of the current macro headlines and focus strictly on what the charts are telling us. As geopolitical tensions, interest rate speculation, and inflation data continue to flood the news cycle, this conversation digs deep into price action to uncover where the real momentum is hiding and where the next big shifts are likely to occur.
Here is a summary of the key topics discussed in this episode:
Precious Metals Consolidation vs. Copper Strength: An overview of the current sideways movement in gold and silver as they test critical moving averages, contrasted with the undeniable structural strength and underlying demand driving copper and copper equities.
Interest Rates, Bond Support, and Oil Dynamics: A technical look at the critical support levels for TLT and bonds, combined with an analysis of why cooling oil prices could soon alleviate the pressure on interest rates.
The S&P 500 Equal-Weight Breakout: Why the recent all-time highs in the equal-weight S&P (RSP) reveal a much healthier, broader market breadth than the bearish headlines suggest.
AI-Driven Power Generation and Tech Rotations: A discussion on the shifting opportunities within tech, specifically focusing on energy infrastructure, small modular nuclear reactors, and under-the-radar financial stocks.
The Airlines and Oil Pairs Trade: How a distinct technical divergence between airline stocks and crude oil reveals a compelling pair-trade opportunity for savvy investors.
 
Stocks and Symbols Mentioned: S&P 500 Equal-Weight ETF (RSP), Gold Miners ETF (GDX), SPDR Gold Shares (GLD), iShares 20+ Year Treasury Bond ETF (TLT), United States Oil Fund (USO), U.S. Global Jets ETF (JETS), Navitas Semiconductor (NVTS), SoFi Technologies (SOFI), Robinhood Markets (HOOD), B. Riley Financial (RILY), Generac Holdings (GNRC), Iris Energy (IREN), Wolfspeed (WOLF), Hut 8 (HUT), Riot Platforms (RIOT), Oklo Inc. (OKLO), NuScale Power (SMR), Delta Air Lines (DAL), Southwest Airlines (LUV). 
 
Click here to visit TG’s site - Profit Pilot - https://www.profit-pilot.com/
 
Click here to visit the Profit Pilot YouTube page - https://www.youtube.com/@Profit-Pilot 
 
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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Dave Erfle - Navigating Gold’s Base-Building Phase and Mining M&A

In this Daily Editorial for the KE Report, I sit down with Dave Erfle, founder and editor of the Junior Miner Junky, to break down the latest technical trends and sentiment shifts in the precious metals sector.
Key topics discussed in this episode:
Gold and GLD Technical Levels: An overview of the critical $4,500 level on gold and the 414 benchmark on GLD, exploring what the recent tight trading range tells us about a potential bottom.
Understanding Sector Sentiment: A look at the commercial open interest and the bullish miners’ percentage index, revealing why high retail boredom often signals an ideal accumulation phase.
The Dynamics of Market Corrections: Dave explains how healthy bull markets shake out latecomers and "weak hands," offering a masterclass on why investors should buy the boredom and trim on strength.
M&A Activity and Corporate Shifts: A breakdown of the massive new consolidation headlines, including Equinox Gold’s latest moves and what rising corporate acquisition tells us about the broader market cycle.
Copper and Critical Minerals Performance: A comparison of the physical copper market against the COPX ETF, identifying divergence patterns that could hint at short-term corrections.
 
Click here to visit the Junior Miner Junky website to learn more about Dave’s investment letter - https://www.juniorminerjunky.com/
 
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For more market commentary & interview summaries, subscribe to our Substacks: 
The KE Report: https://kereport.substack.com/ 
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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Craig Hemke - Gold & Silver Markets: Q2 Mining Margins and Technical vs. Fundamental Drivers

In this Daily Editorial, we are joined by Craig Hemke, founder and editor of the TF Metals Report, to parse through the conflicting signals currently driving the precious metals sector. Despite broader market optimism and a rally in mining stocks today, gold and silver prices have remained relatively flat. Craig shares his insights on what is causing this divergence and what investors should expect next.
Key Discussion Points:
Navigating Market Optimism and Option Expiration: Craig discusses the broader market indicators, including a rally in the bond market, falling crude oil prices, and the impact of the June gold option expiration day, and how these factors are influencing underlying asset prices.
Technical Frustrations vs. Strong Fundamentals: A look at why the short-term technical charts look weak, contrasted against the strong fundamentals, massive free cash flow generation, and aggressive share buybacks currently seen across the mining sector.
Evaluating Second-Quarter Expectations: While PM prices are flat/down this quarter after a blowout Q1 margins may not break the consecutive records seen over the last year, Craig explains why Q2 earnings will still be incredibly robust compared to historical averages.
Leverage Strategies for Investors: Craig details his personal investment thesis, focusing on why he targets the lowest-cost producers to maximize safety and leverage as the long-term macroeconomic picture unfolds.
The Risks of Central Bank Liquidations: A deeper look at what could potentially disrupt the long-term bullish outlook for precious metals, specifically highlighting the threat of sudden central bank selling and currency defenses, as observed with Turkey earlier this year.
 
Click here to visit Craig’s website - TF Metals Report - https://www.tfmetalsreport.com/
 
For more market commentary & interview summaries, subscribe to our Substacks: 
The KE Report: https://kereport.substack.com/ 
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/
Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

TriStar Gold - Strategic Capital Raise and the Path Forward at Castelo de Sonhos

In this Company Update, I sit down with Nick Appleyard, President and CEO of TriStar Gold (TSX.V:TSG | OTCQB:TSGZF), to discuss the company’s recent financing announcement and update on the asset and lawsuit.
They discuss the following key topics:
Upsizing the LIFE Offering: An overview of the company's recent upsized financing from an initial $7 million to $9 million Canadian, and why now was the strategic time to secure these funds.
Exploration and On-Site Work: A look into upcoming plans for expansionary drilling to extend high-grade zones at Esperança South, alongside other fieldwork.
Navigating the Federal Lawsuit: An update on the ongoing evidentiary phase in Brazil, the current status of judge-led summary decisions, and how the company is managing communication with indigenous affairs ministries and public prosecutors.
Unlocking Asset Value: A breakdown of the economic upside of the Castelo de Sonhos project, highlighting its 1.4 million ounces of reserves (total of 2.5mil ounces of gold in all categories) and the ultimate path toward a Feasibility Study and strategic partnership.
 
Click here to visit the TriStar Gold website to learn more about the Company and Project. 
 
Email me any follow up questions for Nick - Fleck@kereport.com. 
 
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For more market commentary & interview summaries, subscribe to our Substacks: 
The KE Report: https://kereport.substack.com/ 
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Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Weekend Show - Rick Bensingor & Dan Steffens - Is Gold Ready to Explode? Plus, Top Oil Stock Picks

This week on The KE Report Weekend Show, we sit down with market legends Rick Bensignor and Dan Steffens to unpack a powerful macro shift in global markets. As inflation pressures mount and fiat currencies erode, Rick Bensignor breaks down the technical charts for gold, silver, and critical minerals - revealing the exact levels investors need to watch for the next major commodity breakout. Then, energy expert Dan Steffens joins the conversation to dissect the structural supply crisis in the oil patch, the staggering draws on the Strategic Petroleum Reserve (SPR), and why top unhedged North American producers are positioned for massive free cash flow. Whether you are navigating precious metals or positioning for the energy squeeze, this episode delivers actionable data and top stock picks to help you stay ahead of the curve. 
 
Segment 1 & 2 - Rick Bensignor, President of Bensignor Investment Strategies, provides a comprehensive chart-based analysis of multiple financial markets. He maintains a structurally bullish long-term outlook on gold due to currency devaluation but warns of a near-term correction down to the $3,700/oz range driven by a potential short-squeeze on the US dollar. Furthermore, Bensignor outlines why global interest rates have officially bottomed, notes that physical oil market metrics skew risks heavily to the upside, and cautions that the US equity market is flashing exhaustion signals after a historic vertical rally. 
Click here to visit the In The Know Trader website - https://intheknowtrader.com/
 
Segment 3 & 4 - Dan Steffens, President of the Energy Prospectus Group, joins the show to analyze the current volatility in the energy sector, focusing on the fundamental supply-demand squeeze in the oil market and the highly seasonal nature of natural gas prices. Throughout the discussion, Dan outlines several key investment opportunities, highlighting unhedged producers like Diamondback and EOG, specific Canadian plays such as Tourmaline and Whitecap, and the strong post-merger potential of special-situation stocks like Crescent Energy, SM Energy, and Devon Energy.
Click here to visit the Energy Prospectus Group website for more energy market and stock analysis - http://www.energyprospectus.com/
 
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For more market commentary & interview summaries, subscribe to our Substacks:
The KE Report: https://kereport.substack.com/
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/
 
Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Marc Chandler - Resilient US Economy, Fed Policy Shifts, Dollar & Rates, Gold Outlook

In this Friday Daily Editorial, I sit down with Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of the Marc to Market website, to recap this week’s economic data, shifting monetary policy, and global market dynamics. Marc provides a comprehensive look at how the US economy continues to defy expectations and outpace international peers, while exploring what these structural shifts mean for global markets. 
Key Discussion Points:
The Resilience of the US Economy: A look at the surprising strength of the Flash PMI data for May, the underlying drivers behind the Atlanta Fed's 4.3% GDP nowcast, and how the massive CapEx boom in data centers is fueling these numbers.
The K-Shaped Consumer Dilemma: An analysis of the clear disconnect between robust GDP growth and record-low consumer confidence.
A New Era for the Federal Reserve: Thoughts on Kevin Warsh being sworn in as the new Federal Reserve Chairman, how his leadership signals a departure from the Bernanke-Yellen-Powell continuum, and why a rate hike is fast becoming the market's base-case scenario.
Global Currency & Bond Market Shifts: An examination of the widening gap between the US Dollar and other major G10 currencies like the Euro and Sterling, alongside an explanation of the recent bond liquidations by foreign central banks.
Gold's Technical Consolidation: A technical evaluation of gold's current trading range, its failure to hold key support levels, and what it will take to restore bullish confidence in the metal.
 
Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.com/
 
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For more market commentary & interview summaries, subscribe to our Substacks: 
The KE Report: https://kereport.substack.com/ 
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/
Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Mike Larson - Navigating Rising Rates, the Tech Bubble Debate, and Resource Opportunities

In this early morning Daily Editorial, I am joined by Mike Larson, Editor-in-Chief at MoneyShow, to break down a heavily bifurcated market and locate where the true trading opportunities are hiding. With earnings season delivering strong growth but macroeconomic data remaining highly mixed, Mike shares his boots-on-the-ground perspective from recent investment conferences on where smart money is moving.
The discussion covers a broad range of critical macroeconomic and sector-specific themes, including:
Global Interest Rate Surges: How the conversation has aggressively shifted from rate cuts to potential rate hikes, and what the multi-decade highs in global bond yields mean for equity markets.
The AI Hardware vs. Software Reality: Why current tech valuations might actually be supported by robust earnings, alongside a deep dive into the "SASS-pocalypse" and how software companies are altering pricing models to survive.
The Looming IPO Supply Shock: A warning on how massive impending public offerings from giant private firms like SpaceX, Anthropic, and OpenAI could drastically alter equity supply-and-demand dynamics.
Precious Metals & Energy Outlook: An analysis of the current "dead money" consolidation phase in gold and silver, juxtaposed against a structurally elevated energy market driven by geopolitical friction.
Sectors to Watch in Las Vegas: A preview of the upcoming Money Show Symposium at Caesar's Palace, focusing on the strategic rotations into hard assets, financials, industrials, and materials.
 
Click here to find out about the upcoming MoneyShow conferences - https://www.moneyshow.com/
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For more market commentary & interview summaries, subscribe to our Substacks: 
The KE Report: https://kereport.substack.com/ 
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/
Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Kingsmen Resources – Topographic Surveys Advancing Drill Targeting at Las Coloradas and Almoloya, Across The High-Grade Parral Silver-Gold District

Scott Emerson, President and CEO of Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) joins us to review the completion of high-resolution satellite surveys of the Las Coloradas and Almoloya projects located in the Parral District, in Chihuahua, Mexico. We go on to discuss some of the key drill targets and exploration initiatives at these 2 silver and gold projects based on the various data sets their team has compiled.
 
Kingsmen is now preparing a comprehensive 3D compilation of topography, surface geochemical samples, magnetic data, induced polarization/resistivity data, geology and drill hole data for the Las Coloradas project. This integration of datasets, combined with the ongoing drill program, is identifying new drill targets and providing a clearer understanding of the vertical and lateral distribution of silver-gold mineralization — its variants, mineralized structures and their relationship to different geological units including sediments, volcanics and intrusives.
 
We start off with Scott briefly reviewing the 3,300-meter maiden reconnaissance drill program in 2025; with 12 holes that encountered broad intercepts and contained pockets of high-grade silver and gold mineralization for follow-up drilling around the historic Mine Target and DBD Target.  
 
The company has raised capital for a fully-funded 15,000 meter follow-up program at both their Las Coloradas Project and initial drilling at the Almoloya Gold/Silver Project. At this point, about ¾ of the drilling will be stepping out and going deeper across Las Coloradas, while also testing a few compelling regional targets. Then there are 2 historic mine areas at Almoloya, with much different geology that will be drilled.
 
 Las Coloradas High-Grade Silver Project
 
Step-out and deeper drilling planned on the high-grade Soledad and Soledad II vein systems, following up around the Mine and DBD zones
Approximately 700 metres of the Soledad structure remains to be tested
New priority regional drill targets emerging at Saddle, Silvia, Leona, and La Plata zones
Multiple large-scale, largely untested targets highlight district-scale discovery potential at Las Coloradas
 
Almoloya Gold/Silver Project
 
Initial diamond drilling planned on the gold-rich Juliettas structures
District-scale CRD and oxide potential identified at Cigarrero Mine área
 
Wrapping up Scott highlights the financial health of the company, the closing of the upsized bought deal financing in January, and the continued support from their key stakeholders. Scott reiterated that the future value creation will be determined with the drill bit, and will have plenty of exploration news on tap for the balance of this year.
 
 
If you have any questions for Scott regarding Kingsmen Resources, then please email those in to us at Fleck@kereport.com or Shad@kereport.com.
 
Click here to follow the latest news from Kingsmen Resources
 
For more market commentary & interview summaries, subscribe to our Substacks:
 
The KE Report: https://kereport.substack.com/
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Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Joel Elconin - Market Realities vs. AI Hype, Inflation Pressures, and Precious Metals

In this Daily Editorial, I sit down with Joel Elconin, co-host of the Pre-Market Prep Show and founder of the Stock Trader Network, to examine the current macroeconomic landscape, key corporate earnings, and sector-specific momentum.
The Semiconductor and AI Phenomenon: A look into whether current semiconductor valuations mirror the dot-com bubble or if strong corporate cash flows justify the historic market run.
Nvidia Earnings and Guidance Realities: Evaluating the market's high bar for Nvidia following its recent report and what the post-earnings price action signals for tech momentum.
Consumer Health and Retail Barometers: Analyzing recent earnings from retail giants Walmart and Target to gauge consumer spending strength amid fluctuating energy costs.
Inflation, the Fed, and Interest Rates: Discussing recent sticky inflation metrics, the potential impact of crude oil prices, and what a shifting political landscape could mean for future Federal Reserve policy.
The Looming IPO Wave and Market Liquidity: Weighing whether highly anticipated public debuts could signal a cyclical market top and if enough capital liquidity exists to absorb them.
Government Action in Quantum Computing: Examining the Trump administration's active involvement in the quantum sector and how investors should play government-backed tech trends.
Precious Metals Technical Analysis: Breaking down the near-term technical correction in gold and silver charts against their long-term bullish structures.
Stocks Mentioned: Micron Technology (NASDAQ: MU), Samsung (OTC: SSNLF), Nvidia (NASDAQ: NVDA), Walmart (NYSE: WMT), Target (NYSE: TGT), Intel (NASDAQ: INTC), IBM (NYSE: IBM).
 
Click here to visit Joel’s PreMarket Prep website - https://www.premarketprep.com/
 
Click here to visit the Stock Trader Network - https://www.stocktradernetwork.com/
 
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For more market commentary & interview summaries, subscribe to our Substacks: 
The KE Report: https://kereport.substack.com/ 
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/
Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Brien Lundin - Precious Metals Corrections, Copper’s Resurgence, and Strategic Resource Picks

In this Daily Editorial, Cory Fleck is joined by Brien Lundin, Editor of the Gold Newsletter and host of the New Orleans Investment Conference, to analyze the current corrective phase in the precious metals market and explore emerging opportunities across the broader commodities sector.
Key Discussion Points:
Short-term technical corrections vs. long-term strength: A look at the recent sideways trading patterns for gold and silver, what the charts reveal about moving averages, and why the macro fundamentals remain incredibly supportive for long-term investors.
The evolving gold-to-silver relationship: An analysis of silver's recent volatility, how the gold-silver ratio is behaving, and why the participation of Western investors is shifting this market back toward a classic bull cycle structure.
Macro drivers and the shift in risk assets: How rising Treasury yields and the geopolitical landscape are impacting the Federal Reserve's policy outlook, and what needs to happen to relieve downward pressure on metals and miners.
Sector rotation and critical minerals: Why capital is beginning to rotate from gold into base and critical metals like copper and tungsten, and how strategic government funding is shifting the economics of domestic resource plays.
Portfolio management in a target-rich environment: Brien explains his stringent criteria for cutting loose slower-moving companies to make immediate room for high-conviction junior exploration stories.
Recent newsmakers in the junior sector: Insights into recent corporate updates from standout resource players and what to look for as the summer drilling season gets underway.
 
Click here to learn more about the Gold Newsletter. - https://goldnewsletter.com/
 
Click here to learn more about the New Orleans Investment Conference on October 28-31. 
 
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For more market commentary & interview summaries, subscribe to our Substacks: 
The KE Report: https://kereport.substack.com/ 
Shad’s resource market commentary: https://excelsiorprosperity.substack.com/
Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.