Staying the Course: Gold, Silver, Valuations — and a New Weight-Loss Pill by NVO

   

Market Talk 

So here we are, closing in on the end of the year and contemplating what may lie ahead. The major stock indices have been anything but calm of late, with renewed volatility following cautionary comments from Oracle regarding overall spending on AI-related buildouts and plans.

Many AI-linked tech stocks suffered sharp corrections, taking share-price hits that shook confidence and broke more than a few spirits. More recently, some of those same names rebounded after memory-chip maker Micron Technology delivered a strong earnings report, pulling sentiment back toward the AI trade.

Still, the larger debate remains unresolved: are we dealing with a developing bubble, or simply early innings of long-term growth? Increasingly, pundits and investment houses are questioning whether optimism has already been fully priced in. At the same time, the enormous energy demands of planned data-center expansion are being scrutinized—and in some cases quietly challenged—by lending institutions.

For today, the bounce in select leaders such as NVIDIA may seem justified. For tomorrow? Still plausible—at least for now.

While we’ve seen some impressive gains in several stocks highlighted here in the Jones Report, markets have a way of catching up. After early potential is recognized and rewarded, stocks often enter what we’ll coin right here as an “evaluation on valuation” phase—where price, not story, becomes the central question.

Meanwhile, the two long-standing mainstays—gold miner Kinross Gold (KGC) and silver producer Hecla Mining (HL)—continue to do what they’ve always done: remain grounded in tangible value.

That doesn’t mean there aren’t trading opportunities elsewhere. There often are. But when valuations begin to outrun fundamentals, stocks inevitably drift from investing toward speculation. That may work for traders—until it doesn’t. The caution is simple: don’t marry stocks that can’t stand up to a basic checklist of real earnings and credible growth.

So far, KGC and HL continue to check those boxes. Many others do not. In a dicey world, if you’re going to dabble, staying nimble may be the most prudent way to operate.

Stock Talk 

After reaffirming KGC and HL as core holdings, where do we go from here?

There’s a wide spectrum of opportunity—ranging from established growth names to higher-risk speculation. Names like Oncolytics Biotech (ONCY) still belong firmly in the “maybe some, but not too much” category: interesting science, real optionality, but patience and position sizing remain key.

That said, it’s worth discussing a new opportunity that’s caught the market’s attention.

Novo Nordisk recently received FDA approval for the first oral GLP-1 receptor agonist for chronic weight management in adults with obesity or overweight conditions—an oral version of its blockbuster Wegovy franchise.

This is not a tweak. It’s a meaningful shift.

What’s been approved?

A once-daily oral semaglutide 25 mg pill, approved by the U.S. Food and Drug Administration for long-term weight management.

Why it matters:
This is the first oral GLP-1 weight-loss therapy available in the U.S., offering a compelling alternative for patients who prefer not to use injections.

Effectiveness:
Clinical data showed average weight loss in the mid-teens (%) over roughly 15 months—far exceeding placebo results.

Timing:
Novo expects a U.S. launch in early 2026.

Cost & access:

Early indications suggest pricing materially below many injectable options, potentially broadening access and adoption.

At the time of writing, NVO is trading in the low-$50s, rebounding sharply on the news. This isn’t a penny stock story or a moonshot—it’s a blue-chip pharma expanding an already dominant franchise. For investors looking to balance innovation with earnings power, NVO deserves a hard look.

As for jumping on that pill? Well, maybe try cutting the white bread for a while—and decide later.

Staying Nimble — and Keeping Dry Powder

Markets continue to swing between AI enthusiasm, resource strength, and defensive positioning. Some weeks it’s tech. Some weeks it’s metals. Opportunity tends to favor those who stay flexible.

When headlines get louder and price swings widen, having room to maneuver can matter more than making the perfect call. Core holdings anchored in fundamentals, selective exposure to growth, and disciplined sizing on speculation—that mix may prove especially valuable in the year ahead.

As always, stay sharp, stay selective, and stay nimble.

— Jones Report

_________

If interested - scroll back and view notes on other stocks, we watch here at the Jones report.  Why not? With the caveat that things change and we try to stay aware - It's all FREE to read and make your own calls and decisions.  Finally - maintain some dry powder and trade or invest according to your own due diligence.

______________

More later so ....Stay tuned, if you dare!

For now, we close by noting that any view on the market and stocks on any particular day may change in the days to come. That is why we watch and see how our views match up with reality.  Looking ahead a few months may be a way to do things - but thinking too deeply about world events and the recent alliances forming, can make projecting ahead a dicey endeavor. 

All in all - we use the word maybe "some", not "too much" and play it accordingly.  Never get arrogant in our notions because things do change - and individual stocks are subject to many factors outside our control. So, we try to -stay aware.

With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.

___________

ALL in my humble opinion, scroll down and read more.This site does NOT make Buy / Sell recommendations.
________