The KE Report

In this daily editorial for Thursday, February 12, 2026, we are joined by Dana Lyons, Fund Manager and Editor of The Lyons Share Pro. With market volatility on the rise and significant red across major indices, Dana provides a deep dive into what his proprietary risk models are signaling for the broad market versus the heavy-capped indices.

Key Discussion Points:

Broad Market Resilience: Why the risk models remain positive despite the struggles of the major cap-weighted indices, highlighting a breakout in mid-cap and equal-weight averages.

Sector Rotations: Analysis of the emerging relative strength in Consumer Staples (XLP), Utilities (XLU), and Industrials (XLI).

Energy Sector Breakout: A look at the Energy Select Sector SPDR Fund (XLE) and why its four-year basing pattern suggests a sustainable long-term move.

Precious Metals Outlook: Differentiating the "parabolic" and "frothy" action in Silver (SLV) from the more measured, constructive moves in Gold (GLD) and the Gold Miners (GDX).

Fixed Income and Crypto: Technical levels to watch for the 10-Year Yield, Emerging Market Bonds (EMB), and a short-term trading perspective on Bitcoin (BTC).

 

Click here to visit the Lyons Share Pro website take advantage of the 33% discount! - https://lyonssharepro.com/

 

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For more market commentary & interview summaries, subscribe to our Substacks: 

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Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this KE Report Daily Editorial, we chat with Joel Elconin, co-host of the Pre-Market Prep Show and founder of the Stock Trader Network, to dissect a volatile day of trading that saw a mid-morning "waterfall decline" across the broad averages.

Joel provides a deep dive into the shifting market internals, moving beyond the headlines of the recent jobs report to explain the structural changes currently driving price action. From the disruption of the software sector to the sudden resurgence of traditional value plays, we cover the critical trends every investor needs to watch.

Discussion Highlights:

The Catalyst for the Sell-Off: Joel identifies the existing home sales data, which came in significantly lower than expected, as the primary trigger for the mid-morning market reversal.

The AI Software vs. Hardware Divide: A look at why software giants like Oracle (ORCL) and Shopify (SHOP) are facing intense pressure, while hardware and chip makers like Micron (MU) and Seagate (STX) continue to find support.

The Great Rotation into Value: Analysis of the flight to safety as investors move capital into "tried and true" consumer staples such as Coca-Cola (KO), Walmart (WMT), and Costco (COST).

Real Estate and Paper Wealth: A sobering look at the housing market, specifically the decline in Toronto's median sales prices to pre-pandemic levels and the resulting evaporation of "paper wealth."

Technical Outlook for the Bottom: Joel shares his strategy for identifying a market floor, emphasizing the need for consolidation and a clear catalyst before "taking a poke" at new positions.

 

Click here to visit Joel’s PreMarket Prep website - https://www.premarketprep.com/

 

Click here to visit the Stock Trader Network - https://www.stocktradernetwork.com/

 

Stocks Mentioned (Symbols): ORCL, SHOP, MU, STX, KO, MCD, WMT, CP, COST, BRK.B, T, VZ, SCHW, LPLA, F, GM, BTC.

 

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For more market commentary & interview summaries, subscribe to our Substacks: 

The KE Report: https://kereport.substack.com/ 

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

 

Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

In this company update, we are joined by Brian Miller, CEO of Astra Exploration (TSX.V: ASTR | OTCQB: ATEPF), to discuss the ongoing progress at the La Manchuria gold-silver project in Argentina. Following a strategic shift in focus last year, the company is currently executing a 10,000-meter Phase 2 drilling campaign designed to test the scale and depth of the system.

Key Discussion Points:

Exploration Strategy and Program Allocation: Brian explains the allocation of the 10,000-meter program, highlighting the shift from near-surface "bulk tonnage" targets to the search for high-grade "feeder zones" at depth.

High-Grade Assay Results: We review the February 10th results, which included intercepts such as 1,300 g/t silver and 9 g/t gold over 3.1 meters, confirming high-grade at the West Feeder zone.

Comparisons to Cerro Negro: Brian draws parallels between the current evolution of La Manchuria and the famous Cerro Negro discovery, where the high-grade "Eureka" zone was discovered only after drilling beneath the initial near-surface resource.

Financial Position and Next Steps: The company remains well-funded for its upcoming 5,000-meter program starting in March, with an all-in drilling cost of approximately $350 USD per meter.

 

Please email me any follow up questions for Brian - [email protected].

Click here to visit the Astra Exploration website. 

 

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For more market commentary & interview summaries, subscribe to our Substacks: 

The KE Report: https://kereport.substack.com/ 

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Sean Brodrick, Editor of Wealth Megatrends, Supercycle Investor, Resource Trader, and contributing analyst to Weiss Ratings Daily, joins us to provide his outlook on the valuations of gold, silver, antimony, and tungsten stocks when contrasted against the volatility we’ve seen in the metals over the last couple weeks and months.

 

Sean remains bullish for medium-term and longer-term in the precious metals, because all the fundamental macroeconomic and geopolitical factors are still in place and haven’t changed. 

 

However, after the wild price volatility in both directions for gold and silver in January and early February, he believes that we are likely now going to trend sideways in a price range for the near-term; basing for a while before the next move to the upside.

He’s recently taken some solid profits in silver stocks, since he expects further sector consolidation.

Sean noted how the Chinese policy and trends in physical precious metals markets have had an outsized effect, sending prices in the precious metals first higher, and then were a big catalyst for the corrective moves lower in the metal, leading the pricing moves that the western exchanges then followed. 

Despite harvesting gains in other silver stocks, he is considering getting back into First Majestic Silver Corp. (NYSE: AG) (TSX: AG) for their production profile and strong anticipated revenues and free cash flows from Q4 heading into Q1.

 

With regards to critical minerals, Sean remains quite interested in the metals of strategic importance to the US and the world at large, like rare earths, uranium, antimony, and tungsten.

 

We reviewed the big news out this week that Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) announced it has entered into a joint venture with United States Antimony (NYSE American: UAMY) to build a new antimony processing facility at the Galena Silver Mine in Idaho. He likes this partnership since these companies are actually producing and processing antimony and have the US government as potential partner to sell to.

Sean is not really interested in the many other exploration stocks that now claim they have exposure to antimony too, because their projects are simply not close to producing this defense metal anywhere in the near-term. The one exception would be the quality and advanced stage of the project that Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) has recently gotten permitted, and that a fellow contributor at Weiss Ratings has provided a research report on.

With regards to tungsten, Sean has had his subscribers positioned in Almonty Industries Inc. (NASDAQ: ALM) (TSX: AII) (ASX: AII) for exposure to this defense metal, in a Canadian company, operating in Asia, but listed on the big board on the US Nasdaq exchange.

 

 

Click here to follow along with Sean’s work at Weiss Ratings Daily and Wealth Megatrends

 

Click here to learn more about Resource Trader

 

For more market commentary & interview summaries, subscribe to our Substacks:

 

The KE Report: https://kereport.substack.com/

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

 

 

Investment disclaimer:

This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

José M. García, CEO and Director of Silver X Mining (TSX.V:AGX – OTCQB:AGXPF), joins me for a comprehensive video overview their aggressive growth plan to increase throughput levels from the Tangana Mine silver production and via increases to the plant capacity of the Recuperada Plant.  In tandem to those workstreams, their team has ongoing development and exploration work programs at both the Plata Mine and Red Silver Mine areas for new production to begin about a year out which will augment the consolidated production at their Nueva Recuperada Project, located in central Peru.

 

We start off by having José outline some of the step changes in the current focus on growing the production throughput at Tangana from the current 500-600 tonnes per day (tpd) up to nameplate capacity of the plant at 720 tpd.  Then they are seeking permits in the middle of this year to expand the plant throughput to 1,000 tpd by the end of 2026.

 

Then looking ahead 2-3 years, as outlined in their expanded Preliminary Economic Assessment (PEA) released to the market on September 4th, 2025, they will increase the Recuperada Plant capacity up to 1,500 tpd, and also build a new Tangana Plant also with 1,500 tpd capacity, taking throughput up to 3,000 tpd by 2029.

 

The vision is to increase mining, development, and grade from the Tangana unit to eventually feed the new plant, with higher grade material from both the Plata Mining Unit and Red Silver Mining Unit eventually feeding the Recuperada Plant.   When both plants are running at full capacity with 3,000 tpd the projected output would be over 6 million silver equivalent ounces of production per annum.

 

We spend the balance of the interview unpacking the ongoing 40,000 meter drill program, and aggressive exploration initiatives across their district-scale land package.   There are multiple goals for this largest drill program to date focused on further delineating the higher-grade areas of each area, updating the confidence in the continuity of known resources with infill drilling, while still looking to make new discoveries along strike and at depth.

 

Wrapping up with discuss the fiscal health of the company, reviewing the news out January 27th regarding the private placement offering by the Company of up to C$60 million aggregate principal amount of secured convertible debentures, potential exercise of in the money warrants, and organic revenue generation from mining.  These elements coming together will fund the company’s initiatives to be able to keep growing the operations organically for the years ahead.

 

If you have any questions for José regarding Silver X Mining, then please email those into me at [email protected].

 

In full disclosure, Shad is a shareholder of Silver X Mining at the time of this recording and may choose to buy or sell shares at any time.

 

Click here to follow the latest news from Silver X Mining

 

For more market commentary & interview summaries, subscribe to our Substacks:

 

The KE Report: https://kereport.substack.com/

Shad’s resource market commentary: https://excelsiorprosperity.substack.com/

 

 

Investment disclaimer:

This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.