Exclusive Insights on the Gold Market – Wed 17 May, 2017

The Junior Miner Junkie on the moves in metals stocks

More coverage on the moves in precious metals and PM stocks. A relatively new newsletter and guest to the show David Erfle, The Junior Miner Junkie, joins me to outline his forward look at the metals stocks. David blends technicals with fundamental analysis while following a large number of stocks. He outlines why he thinks this move in the PM stocks might be coming to end shortly and a further consolidation ahead.

Click here to visit David’s website and his newsletter. I am signed up and can say he provides very good concise information on PM stocks.

Click download link to listen on this device: Download Show

View related posts on: ,

Comments:
  1. On May 17, 2017 at 12:14 pm,
    Archdeacon (!) Andrew says:

    Looking forward to hearing more from your guest Cory. Thanks.

  2. On May 17, 2017 at 12:44 pm,
    CFS says:

    Congressman Calls For Trump Impeachment For “Obstruction Of Justice”

    Tyler Durden’s picture
    by Tyler Durden
    May 17, 2017 9:25 AM
    Rep. Green has called for the impeachment of the president…
    But really:
    https://youtu.be/Tdw7kxD8eUc

  3. On May 17, 2017 at 12:56 pm,
    CFS says:

    Al Green, Maxine Watters, Nancy Pelosi, What a group

    So senile or its anagram….. One’s lies

    • On May 17, 2017 at 1:34 pm,
      Markedtofuture says:

      Stock Market Crash? Armstrong

      The correction has begun with the uneasiness of the two political scandals surrounding Trump – Russian meeting and now a Comey memo saying Trump asked him to kill the investigation into Flyn. The first is not really an issue legally, but the second could fuel the quest to impeach Trump which is really led by McCain and Graham behind the curtain in league with Schumer.

      McCain is already calling this a Watergate demonstrating he is out to get rid of Trump and protect the establishment.

      The impeachment of Trump is being talked about behind the curtain as a positive move for then Pence would take up the Presidency and then the tax reforms would become possible. That is an interesting twist on things. Continued….

      https://www.armstrongeconomics.com/markets-by-sector/stock-indicies/sp-500/stock-market-crash/

  4. On May 17, 2017 at 1:21 pm,
    CFS says:
  5. On May 17, 2017 at 3:39 pm,
    Brian says:

    In my opinion, it is a mistake to use the GDX and GDXJ ETFs as a barometer (Charting) of the PM Mining shares. Every one of my PM stocks is acting differently; they may all be singing in the key of G, but the songs are all different.

    • On May 17, 2017 at 5:23 pm,
      Excelsior says:

      Good point, and nice to see you posting again Brian.

      • On May 18, 2017 at 8:50 am,
        Excelsior says:

        With Jr. companies I prefer charting and following their news flow on a case by case basis, (yet still staying cognizant of the Macro backdrop in the larger mining companies for the general trend).

    • On May 17, 2017 at 6:06 pm,
      Matthew says:

      I disagree that it is a mistake even though most of my shares also move differently. GDX represent the best (biggest and most profitable) of the sector very well. The small junior miners that I prefer, aren’t going to start a sustained move higher without the big boys participating. Individually that is possible, but as a group, it is very unlikely.

      GDX is well diversified but dominated by the biggest names. This alone makes it worth looking at since there are a lot of investors, large and small, that won’t touch anything but the biggest and most liquid names in any sector. When those large holdings start to move on good volume, it is a good sign for the rest of the sector as it indicates significant interest in the sector. The rising tide that lifts those ships will spillover and easily lift the tiny vessels that we prefer as growing speculative appetites launch a search for opportunity/value.

      http://www.etfinvestmentoutlook.com/etf_holdings.php?s=GDX

      • On May 18, 2017 at 8:48 am,
        Excelsior says:

        I agree that GDX is the biggest and best of the Major and larger Mid-tier miners, along with the Streaming companies, and that it will signal the macro picture in the miners. Clearly if the “Big Boys” are doing well or or in the hurt locker, then that affects the sentiment across the board in the PM miners.

        However, Brian’s point of evaluating the smaller JR companies individually on their own merit, and based on their own fundamental data points and technical set up on the charts is very wise. Many of the smaller Jrs move to the beat of their own drummers, and because they are thinly traded, a big news release or entry/exit of a larger buyer can really move things suddenly.

        • On May 18, 2017 at 9:00 am,
          Matthew says:

          Yes, it is wise to evaluate individual stocks individually but Brian didn’t mention doing that. He did say that it is a mistake to use the ETFs as a barometer. I have to add that, although I completely disagree, I do not buy or sell my miners based on what the ETFs are doing.

          • On May 18, 2017 at 11:35 am,
            Excelsior says:

            Agreed. We’re definitely on the same page there. I guess my response was on a the extrapolation of Brian’s comments “…they may all be singing in the key of G, but the songs are all different” to mean that each “song” (junior) should be evaluated separately.

            I do agree with you that GDX is a good barometer or likewise how Jeff Kern uses USERX. One could also use SGDM or RING for gauging the macro trend. GDX is definitely the most widely followed though…hands down.

            I will often check the ETFs for the macro trend, but when purchasing an individual company (especially the very small Jrs) I’ll mostly focus on their technical set up, and their expected newsflow (or recent newsflow) as a strong consideration.

  6. On May 17, 2017 at 8:59 pm,
    Aaron says:

    We’ve already had our correction in the Juniors. We’re not going down to $1200. High quality juniors and midcaps are performing well. This is an notoriously unloved bull market and that is extremely bullish.

    • On May 18, 2017 at 8:49 am,
      Excelsior says:

      +1 Aaron. Agreed.