Trudeau's Next Gimmick, GSPR, GILT, Tech List Review, Sell Bitcoin ETF (SBIT)
SBIT Take 6% profit in oneday
I commented Trudeau used his GST holiday gimmick to get to XMAS break so he would have more time to come up with the next political gimmick to prolong his dictatorship and so he did.
In Canada Trudeau did prologue parliament as I speculated early yesterday doing so to March 25th and SAYS he is going to resign when a new liberal leader is selected. He is still PM for probably at least 4 more months and who knows what he will do. The governor general, Mary Simon should never went along with Trudeau to prologue parliament as it only benefits Trudeau and the Liberals. However she is a long time liberal and is in Trudeau's back pocket. This comes a time when Trump will soon be in power and threatening tariffs can then become reality. We still have a PM that Trump has zero respect for and now no parliament to help deal with the immediate future.
Prorogation also means there will be no non confidence vote so the liberals and NDP can survive longer. They knew for sure they would have been slaughtered in an election and out of a job so basically this is another Trudeau political gimmick that is just going to hurt Canada more.
The carbon tax goes up April 1st, so the Liberals can claim there was no time to change this. Who knows what their election BS promises will be, but for now, nothing is changed until we have an election which will now be most likely October 20th, the latest possible date. Beware that a new liberal leader increases their chances to win more seats and they team up with the NDP again for another socialist government. I hope Canadians have smartened up!!!!!!!
I think there is going to be a lot of outrage in what Trudeau did when Canadians figure it out.
The S&P Global Canada services purchasing managers index fell to 48.2 in December from 51.2 the month before. It was the first time the measure was below the 50 threshold separating expansion from contraction in three months. And so down goes Canada some more.
Busy Week of US Economic Data
There is a slew of U.S. economic data out this week ending with the bogus jobs report on Friday.
S&P Global's US Composite PMI for December was revised to 55.4 from the preliminary estimate of 56.6 climbed from November's reading of 54.9, from data released on Monday. The Services PMI print of 56.8, revised from the preliminary estimate of 58.5, rose from 56.1 in the prior month.
Service part of the economy has been the bright spot while factory orders dropped 0.4% after an upwardly revised 0.5% gain in October. Economists polled by Reuters had forecast factory orders slipping 0.3% after a previously reported 0.2% rise in October. Factory orders edged up 0.1% year-on-year in November. Manufacturing, which accounts for 10.3% of the economy, has struggled in the aftermath of the Federal Reserve's aggressive monetary policy tightening in 2022 and 2023 to curb inflation.
The U.S. trade deficit widened in November, likely as businesses worried about President-elect Donald Trump's threats to raise tariffs on foreign goods front-loaded imports, more than offseting a surge in exports to a record high. The trade gap increased 6.2% to $78.2 billion from a revised $73.6 billion in October.
The best news is Job Openings rose to 8.1 million in November, the most since February and up from 7.8 million in October, the Labor Department reported Tuesday. They were down from 8.9 million a year earlier and a peak of 12.2 million in March 2022 as the economy was roaring back from COVID-19 lockdowns.
Key data tomorrow is ADP employment report and Consumer Credit and of course Friday's job numbers
GSP Resources - - - TSXV:GSPR - - - - Recent Price - $0.11
Entry Price - $0.15 - - - - - Opinion – buy ahead of drill results
GSPR had a news release with a 2024 review and 2025 outlook that is well worth the read for shareholders. Most important is they completed their surface diamond drill program at the Alwin mine copper-silver-gold project in December so results will soon be out. The 2024 drill program consisted of seven drill holes totalling 812 metres designed to target potential extensions of known high-grade copper and gold zones. Drilling highlights Include:
All seven holes intersected visual signs of chalcopyrite-bornite copper sulphide mineralization. Three drill holes intersected significant width visible copper sulphide mineralization.
Drill hole AM24-06 is of particular significance given that the mineralized intercept occurs to the northwest along strike of the deposit and outside of the current Alwin project mineral resource pit shell, which presents clear opportunities for resource expansion (see GSP Resource news release dated Dec. 12, 2024).
Significantly, the 2024 drill campaign was designed to test the potential for gold values present as both high-grade narrow veins and broader lower grade zones, which are not well understood due to a lack historic gold assays (see GSP Resouce news release dated Aug. 19, 2024).
CEO Simon C. Dyakowski, summed up: "Two thousand twenty-four was a pivotal year for GSP. We built off the successful Alwin project restart in 2023, culminating in the development of the first-ever open pit model for the Alwin project, and its maiden 43-101 mineral resource estimate (MRE). With high-grade copper-silver-gold drill results reported early in the year, GSP then delivered an expanded exploration model based on a new open pit concept. This new model is now being drill tested for growth of the open pit potential mineralization, as well as for the potential upside of high-grade precious metals. We also acquired 100-per-cent ownership of the Mer project, which hosts historically drilled porphyry style copper mineralization, and is also strategically located within the Highland Valley camp, surrounded by Teck Resource's Highland Valley copper claims. Going into 2025 we eagerly await the receipt of assays results from our recently completed drilling program and continued advancement of the Alwin and Mer project's full potential."
Great news with one of our tech stocks
Gilat Satellite Networks - - - - NASDAQ: GILT - - - - Recent Price- $6.60
Entry Price - $8.16 - - - - - Opinion - hold
We got some good news and a break out in the stock
On December 30th GILT announced that the Company has secured over $18 million in orders for IFC solutions. These orders are mainly for Gilat SkyEdge platforms, related services and SSPAs. The equipment and services are scheduled for delivery within the next 12 months.
Then on January 6th they announced $9 million in orders from major satellite operators. The orders are for its advanced satellite communications platforms, SkyEdge IV and SkyEdge II-c equipment and services. Delivery is scheduled within the next 12 months.
The world’s leading satellite operators use Gilat’s cutting-edge SkyEdge technology to provide unparalleled connectivity across multiple satellite constellations. SkyEdge platforms are designed to deliver robust, high-performance satellite communications for a variety of applications, including maritime, cellular backhaul and enterprise solutions.
The company has been doing well, but the stocks just cannot seem to get sustained momentum. We have been in this stock a while and I am expecting a test of the 2023 highs around $7.20. If it cannot break this, I will probably suggest selling.
2024 Tech Selection List Review
As you are aware, I believe we are in another bubble stock market with tech stocks, the main driver. I want to lighten up some more on our list. We sold off the rest of the U.S. bio techs in 2024 and I plan on selling a couple more of our tech stocks on expected bounces higher while the market is still buoyant.
We ended the year with a 19.4% average gain and not as good as the TSX tech index or NASDAQ.
The main reason is the Canadian tech plays were flat and my plan is to sell a couple more of these that we have held for a while and add some new U.S. tech stocks, maybe in the defense sector.
The selection List is paid subscribers only
We took part profits in Aires WIFI over a $1.00 and I am looking to sell the rest on a bounce up. Their sales are increasing with $6.7 million in sales over the holiday period, but the stock has just been base building between $0.20 and $0.30 on average over the last several months. We should see a bounce higher out of this base and test $0.50 resistance.
Gatekeeper GSI reported Q4 and yearly results on December 20th. Revenue for the fiscal year ended August 31, 2024 was $37,810,957, compared to $27,848,838 for the same prior year comparable period, representing an increase of 36% and the highest fiscal yearly revenue in the Company's history.
The stock did go up in 2024 but has been stuck in a range mostly between $0.50 to $0.70. If it goes over $0.70 again but does not break out, I will probably sell.
The rest of our tech stocks I see as cheap and a buy. I am having a call with Nugen this week so will have an update on that one and others.
Both Clip Money and Jackpot Digital continue to announce more and more sales deals.
Bitcoin - - SBIT ETF - - - - - Entry Price $10.00
Recent Price - $10.60 - - - - - - Sell
I put an alert out yesterday on Signal just before 9am and my newsletter out at 10am to short Bitcoin with the SBIT etf. Fortunately SBIT kept falling in that time dropping from about $10.40 at 9am to about $9.65 around 11 am so I picked an even $10.00 as our entry price.
When we can make 6% in one day, lets take it.
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