Royalty is Coming to America

After the run the precious metals and miners have had it is completely logical to wait for a lower risk entry on the long side. However, as we know, markets these days, especially, can be anything but logical.

With rates spiraling higher again today, here are two reasonably non-extended precious miner-related plays, below, on their respective daily charts: GROY and SAND. 

Both are royalty plays out of Canada. SAND, especially, is intriguing and is a name I have owned long-term with VIP Members on the basis that once the gold/silver/miner bull market confirmed we would see royalty plays surge since they are, in essence, a leveraged long way to play a bull run in gold and mining. 

Elsewhere, despite small caps soundly lower by 1.5% on the day, I see bulls cannot help themselves to buy the Nasdaq "dip" earlier. The next few weeks will revolve around major earnings and the election, with TSLA this week. Semis are lagging as a group despite NVDA surging. 

And I strongly suspect REITS in the IYR ETF are finally bearing the brunt of this move in rates, which should throw cold water on the idea that The Fed's cut last month would be some kind of panacea for the many problematic names in that sector.