With gold trading in a $50 range we look at the stocks and upcoming news flow for catalysts
Dave Erfle, Founder of The Junior Miner Junky joins me for a discussion on the gold sector. Since gold is stuck in a very tight $50 range we look to the stocks both producers and explorers to assess the health of the sector. As Dave points out the market is very divided right now with some stocks running and many stuck in ranges.
Click here to visit The Junior Miner Junky website to follow along with Dave’s investments.
Emerita has just continued to surge higher. I blame Doc Jones and his phenomenal research pieces.
> 400 Million ozs of Silver!?! Emerita Resources stuns the market $EMO, (Part 5)
by @Drjimjones on 4 May 2021
https://ceo.ca/@Drjimjones/400-million-ozs-of-silveremerita-resources-stuns-the-market-emo-part-5
That pop in Emerita and today’s follow on Vizsla gain put me within $345 of covering my additional tax bill for 2020. I got my tax notice from my CPA on 4/1 and all gains made since then. Now can I keep them when I begin selling. (The games people play…this appears one of them)
Yeah, that was a nice move in Vizsla today as well.
Visualizing the $2.9B Money Flow into Gold Exploration
The Visual Capitalist – May 5, 2021 – Bruno Venditti
https://elements.visualcapitalist.com/visualizing-the-2-9b-money-flow-into-gold-exploration/
I like to think of paying taxes as a privilege denied to most! I’m assuming taking advantage of the most favourable interpretations under the tax Acts! LOL
Yesterday’s gold plunge allowed GLD to fill Monday’s gap (and GLD subsequently bullishly finished yesterday above an obviously “working” fork resistance/support):
https://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=6&dy=0&id=p48708809698&a=753284548
The gold version of that GLD chart, specifically the fork, turned out about the same which is often not the case as we might assume.
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=3&dy=0&id=p90052838778&a=949061630
The Nasdaq is much further along in its topping process than either the S&P or Dow. The high last week came with big bearish divergences or “non confirmations” in the RSI and MACD.
https://stockcharts.com/h-sc/ui?s=%24COMPQ&p=W&yr=5&mn=11&dy=0&id=p43907764498&a=942652907
The following chart is GDX priced in QQQ and I find it very interesting and very bullish for GDX. The trade is obviously sell QQQ and buy GDX.
https://stockcharts.com/h-sc/ui?s=GDX%3AQQQ&p=W&yr=3&mn=7&dy=0&id=p96771084254&a=948507271
I’ve been shorting the Nasdaq with the inverse ETF (SQQQ) the last 2 weeks and believe the tech stocks look weak.
Nasdaq looks terrible versus gold:
https://stockcharts.com/h-sc/ui?s=%24COMPQ%3A%24GOLD&p=W&yr=5&mn=11&dy=0&id=p03282740166&a=942653924
Johnny come lately still researching the Newfoundland area plays for a bargain……found Sassy resources where I read this comment….Sassy has the closest group of claims to NFG’s Eastern Pond surface discovery at Queensway South. Drill permits in hand…. they also have a play in eskay…..so might be a good play or just a follow the leader of the latest hot area…..all they need is a red Lake District property for the trifecta of recent hot spots
It’s nice to see Gold and Silver popping this morning.
Gold up to $1812
Silver up to $27.40
Looking good!
I thought the consensus from about 3-4 different technicians back in March was that Gold was going down in the low $1600’s or high $1500’s in April & May, and that Silver was going down to $22?
Do folks think we really may have double-bottomed in Gold in March and that this really is the beginning of the next impulse leg higher to challenge higher levels, or is this still the bump before the slump?
Is Silver going to keep chugging higher and possibly make it back up to test that $29-$30 resistance level again, or is this just a relief rally, where things will head back down again soon?
I’m not complaining about the higher PM prices, as a number of miners are ripping higher, and my account is at an all time high (again) today, but I’m still nervous and climbing the wall of worry with my fingers crossed… Ha!
I think April is going to be good for the miners. I hope May will be better. That’s all I got.
$1800 gold and I feel like miners are capped. There was a wild start this morning, which gave me some hope. Will have to see what the afternoon beings to see if some new money is wanting to get on the right side of the trade.
beings = brings
I’d say April WAS good for the miners, unless you meant a year from now. 😉
ex, producers generally relunctant vs gold. Not a positve sign, especially with other commodities, copper, lumber, grains etc etc ripping upward. would prefer the reverse. No big commitments in here.
Most of the larger gold producers have finally started to move again over the last month, but if the metals do breakout, I’d expect the juniors to start to play catch up.
Yeah, there are many sectors competing for investor attention and they’ve been better sectors, so it’s easy to see how folks would be distracted.
All of a sudden a pop in Emerita.