Gold was little changed for the week and closing at $1801 and silver closed at $25.23.
Adam Hamilton in the article below, Gold Investors Wavering, gives us reason to be optimistic:
“One reason gold investment is likely to improve soon is August sees strong autumn-rally seasonals. I’m updating that research thread for a new essay next week, but for now realize August has proven gold’s second-strongest month through those same modern bull years in the first chart above. On average gold has surged 2.1% higher in August, followed by another big 1.7% in September! That stretch is super-bullish….”
But for now, we continue to be patient …..
Friday the 23rd was the last trading day for Churchill Capital IV and on Monday’s open Lucid Motors will begin trading, LCID and LCIDW.
“Churchill IV, whose shares of common stock, warrants and units are currently listed on the New York Stock Exchange (the “NYSE”), will delist from the NYSE. Shares of common stock and warrants of the post-combination company, renamed Lucid Group, Inc. (“Lucid”), will be listed on The Nasdaq Stock Market LLC (“Nasdaq”) beginning on July 26, 2021 under the ticker symbols “LCID” and “LCIDW,” respectively. Units will no longer trade separately.
Peter Rawlinson, CEO and CTO of Lucid, said, “We are thrilled to complete our business combination with Churchill IV and become a public company. Lucid has further increased its momentum as we gear up to make the first customer deliveries of our Lucid Air lineup of electric sedans later this year. We are making significant investments in the long-term growth and innovation of our company, and we will continue to bring to bear world-class technology to positively impact mankind’s transition to sustainable mobility. I want to thank Michael and the Churchill team for their partnership and shared vision.”
The chart below of the common shares of CCIV on their last trading day presents us with a potential roadmap of the future prices for Lucid as we see the large gap in prices which at some point will be filled. There is a lot of upside potential but the question will be one of timing, sooner or later? This coming week of trading will give us a signal.
We have many subscribers who are following the SPACs and the SPAK is a good proxy for the overall SPAC market. You will notice that every time the RSI closes below 30, we are set up for a great move to the upside. WE ARE THERE ONCE AGAIN!! Very soon, I am expecting the sector to perform well and the warrants to possibly soar once again.
Notice the large gap down in prices from 34 to 32 back in late February which is very similar to the gap down in the chart above of CCIV. I say let’s fill these gaps soon which would be a great rally from today’s price at 23.69.
Investors must make their own decision as to the short-term and long-term direction in gold, silver, mining shares, and the warrants trading on those shares but personally I as an investor believe we will be seeing substantially higher prices and I continue to seek out and buy those companies or warrants which I believe will be big winners. My personal portfolio is shared with my Gold and Lifetime subscribers.
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Recent Articles For Your Reading Pleasure:
Bitcoin enters Stage #4 Excess Phase Peak Breakdown – Where To Next? – TTT
Eight Do’s and Don’ts For Options Traders – TTT
South America’s left turn is bullish copper, top miner says – Mining.com
Gold trader’s chat bragged about ‘how easy’ it is to manipulate prices – Mining.com
Gold Stocks: Candlesticks Offer Hope – 321Gold.com
Gold Investors Wavering – Adam Hamilton on 321Gold.com
Thanks for being with us on this amazing journey
Dudley Pierce Baker
Founder – Editor