Categories: General Market Commentary / Precious Metals
Topics: General Market Commentary / General Precious Metals

James Dines: Gold and Cannabis Blooming

James Dines: Gold and Cannabis Blooming


James Dines recently spoke with the Investing News Network about how gold and cannabis fared in 2016, and what's in store for 2017.

Gold and cannabis fall on completely different ends of the spectrum, but both sectors have blossomed in 2016. 

James Dines, who has long been known for making contrasting predictions from what others say in a number of markets, recently spoke with the Investing News Network’s Nick Smith, about how the gold and cannabis sectors looked in 2016, and what to look for in 2017.

In particular, Dines shed light on what he feels the biggest news of 2016 was, what he looks for in a cannabis stock, and what is exciting about 2017.

James Dines publishes over at The Dines Letter, which offers advice and information for traders and investors.  According to its website, “The Dines Letter encompasses a vast variety of material based on years of observation and study, encompassing and including these four main areas that combined are called DIQUIN (The Dines Quintet Method of Investing).”  He can also be reached at 1-800-84-LUCKY (1-800-845-8259).

Below is a transcript of the interview. It has been edited for clarity and brevity. Read on to see what Dines had to say.

INN: As we come to the end of 2016 when you look back what did you think was going to happen this year in the resource sector?

JD: We flashed a buy signal, a very lucky one, in February of 2009 just within four days of the low. Then we rode the uptrend all the way up until the end of 2014. At that point we flashed a sell signal because major trend lines were broken; since then the averages have been flat. This is possibly a top formation. It’s a neutral formation, so I was bearish or negative and adamant in the market in January of last year and that worked very well with two exceptions. Number one: we turned on bullish on gold in February and also on marijuana stocks.

They’ve had phenomenal years. We’ve had great a year this year even though I’m bearish on the market.

INN: What was the biggest news this year that you feel when you look at the resource or the marijuana sector?

JD: Well for marijuana I recommended them because I knew they’d be on the election in California which is the biggest state. I’ve been watching it for the last few years and the trend was inexorable and more and more people were in favor of legalizing it. There was such a negativity to it that I thought it would be a good opportunity. A lot of these stocks were so depressed, beaten down and ignored, that they were literally selling for pennies and we got into some of those very low priced stocks. One of them is up 1,600 percent percent in the last seven months.

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