The resource juniors have really started to perk up across the board

May 20, 2021

Erik Wetterling, Founder of The Hedgeless Horseman joins me to share his insights on the junior resource stocks. Just in the last few trading days we have seen a broad recovery/bounce in the juniors. It’s clearly a different market for the metals sectors and it’s finally trickling down to the juniors.

Click here to visit Erik’s site – The Hedgeless Horseman

    May 20, 2021 20:29 AM

    Someone over at recently posted this look back at Erik’s article on Eloro Resources, and so it seemed worth pointing out how ahead of the curve he was on those drill results and how the interest has swelled in Eloro as they’ve continued to hit paydirt. It is great to get Erik’s thoughts here at the KE Report regular and hear his strategies on how he approached investing in the earlier stage exploration stocks.

    (ELO) Eloro Resources: A Large Untested System(s) Among Giants

    The Hedgeless Horseman – June 29, 2020

      May 20, 2021 20:48 AM

      Eric….I agree…….. We are in a LONG TERM BULL MARKET……… Just like I have been saying for years, gold is a no brainer. JMO

        May 20, 2021 20:05 AM

        +1 Bingo.

          May 20, 2021 20:50 AM

          OH, OH, Chris Vermeulen is in 100% cash ahead of a Bitcoin and stock market crash! Maybe it’s time to think about a defensive measure. DT

            May 20, 2021 20:32 PM

            I was talking to Ex about this same subject and he indicated he is keeping his winnings from the Preakness in cash. 🙂

            May 20, 2021 20:10 PM

            David, Ex has so much money that he has to ride around in an armored car, with another car to patrol the way ahead, and a third car full of armed henchmen sporting Thomson sub machine guns, and a gun under each armpit. He also hobnobs with politicians and judges. DT

            May 20, 2021 20:20 PM

            Ex also has an attack dog at his side and his name is IT! LOL! DT

            May 20, 2021 20:30 PM

            DT: Nice try…I am always going to get a second opinion concerning your Ex comments, even if that second opinion is not credible…Preakness…never again…humph Preakness…

            May 20, 2021 20:43 PM

            Uh…what kind of dog…

            May 20, 2021 20:12 PM

            David, this is more down your alley, what did you think of Bob M’s article on PGE today. He really knows how to get the story out and that’s what counts. You know nothing can happen without Madison Avenue. DT

            May 20, 2021 20:17 PM

            Okay, here is the link, Bob M would have made a great creative Director at McCann Erickson!

            May 20, 2021 20:34 PM

            There are some good points in the article about Group Ten having the potential of the border Stillwater property but when talking about Apples, BM has a tendency to throw in oranges like Fauci and Israel. Overtime, he has picked up this tendency but I filter the political out most of the time. I believe Group Ten is under priced but think most of that is that corporate consumers do not want base metals to screw up their costs. So today’s increase could indicate the BM price bounce, the inflation price bounce or maybe base metals are getting recognized. I don’t know if Fauci is a buyer.

            May 20, 2021 20:05 PM

            David, it doesn’t matter what many companies have if the story doesn’t get out there, it will be The Twilight Zone for even really good exploration companies. Dogeecoin worked for now because The Flim Flam man Musk promoted them. That is the magic of marketing and advertising. Group Ten Metals is a great company but without the story getting to the buyers it is no where’s ville. I can’t stress this enough. DT

            May 20, 2021 20:21 PM

            Agree that the company is not “working the room”. They need some PRs that emphasize the resource over and over and the fact they are in North America and why that is important. BM could fill the deficit and eliminate the oranges.

            May 20, 2021 20:33 PM

            Corporate comments are aimed at commodity markets in general and not specific miners. I have this impression that market intervention is motivated by special interests that goes unregulated.

            May 21, 2021 21:07 AM

            DT & David – you guys crack me up!! Thanks for the chuckle 🙂

    May 20, 2021 20:40 AM

    Thanks, erik. I bought more IRVRF yesterday and more Novo today. Maybe I should buy more NULGF too…
    Irish Tony, are you celebrating Joe Cocker’s birthday today? Joe would’ve been 77.

      May 20, 2021 20:50 PM

      Hi bonzo… For you & all my friends at the KER………………….

        May 20, 2021 20:09 PM

        Hi Tony. Go to YouTube and enter: ‘Joe Cocker-Stoned at Woodstock 1969- with SUBTITLES”

      May 20, 2021 20:26 PM

      Yes Mr ATM lol

      You have been buying since the great depression now show some proof. By the way you have bought all the way down since august high lol.


    May 20, 2021 20:34 PM

    Bitterroot had a pop after their Metals Investor Forum presentation.

      May 20, 2021 20:36 PM

      Silver Sands is also moving a little. That might be after Corry’s interview.

        May 20, 2021 20:44 PM

        Blackrock also moving up

          May 20, 2021 20:54 PM

          Emerita “pop”

            May 20, 2021 20:47 PM

            MZZ.AX is a company exploring in NFLD, trying to take advantage of the excitement there. Any comments on MZZ?

            May 20, 2021 20:17 PM

            I am sorry Terry, I don’t follow the industry anymore. I defer to Doc and Cory!

            May 20, 2021 20:36 PM

            Hi Glenfidish
            your input is always interesting.
            im not a trader- im just an guy trying to make some money on this bull run and have taken an interest on the technicals, and for personal interest im trying to learn more about it.
            just to give you some feedback: When Matthew has a opinion of the market, he provides charts which support his claims and this action, helps me to understand how he goes about his trade. hopefully this is clear. Savage does the same thing as well as Steve Penny. A chart is provided and discussed. And it appears, everyone is calling for new highs.
            So, I would love to understand what you see, in charts, that supports your claims . Please do not find this aggressive or challenging in any way. i just would like to see how you come up with your conclusions. thanks

            Hello to all my followers! I dont take offense to this blogger nor ex..

            Ive made it clear on many occasions that im much more conservative then mathew and ex and dont share everyhing. In fact matthew thought i had a guru lol. Its all me and im a visionary something needing for charting. I called the right shoulder to break before it happened but ex was not to impressed however i had many comments supporting m calls and that was gratifying.

            Many investors speculate this and that and believe im a bear but my history shows not even close. Im really non bias or a gold bug im an investor that believes in the gold bull but that there is pendulums and currently we have a massive one to the upside which means pain and hurt is coming in the miners,

            now im going to monitor this pull back and if the speculative stuff and small cap/miners do get taken down then the monthly is confirming what i think and thats equally as confident as matt that the miners as some have already broken there trend lines and monthly will send them lower.

            all i know is that i cant find one person on planet earth bearish not evem savage lo..

            beware miners look to go down


            May 21, 2021 21:46 AM

            Glen, for the second time, you misunderstood my guru comment. I never thought you had a guru. I was teasing that YOU are a guru precisely because you don’t put up charts!

            May 21, 2021 21:11 AM

            Glen, I have to address your claim that being “visionary” is needed for charting. No offense but that is the exact opposite of the truth. Envisioning outcomes will get you into trouble and doing so at big important turns will get you into huge trouble. Lots of buy signals have come and gone without you noticing them much less respecting them and being visionary is probably the reason.

            As for the bullishness that you perceive, my experience lately has been very different. I think you’re confusing hope among the retail crowd with bullishness but most are really uncertain and even fearful. Among experienced traders, I know of several that are mostly or completely in cash and now feeling some FOMO by their own admission.
            Larry is a good, knowledgeable and disciplined trader and I’d bet that he’s in cash right now, too. (Larry, let us know!)

            May 21, 2021 21:06 PM

            Glen, I respect you input, and don’t want to get into a big back and forth here, but also have disagree with what you wrote there about me. First of all there should be nothing to take offense at. I simply agreed with Toronto that if you are going to strictly discuss technical analysis that posting your work and your charts would be helpful as charts are 100% visual, and it is odd not to post charts if you are going to constantly discuss TA.

            As for your reference to me not being impressed earlier in the year, let’s get the facts straight here. The issue I took earlier in the year was your repetitive calls back in Jan-Feb about the imminent break out the to the upside you saw from the dozens of posts about the inverse head & shoulders pattern you kept banging on about. If you recall I stated that was not an inverse head and shoulders pattern, that the right shoulder was actually dipping down not up which is bearish, and proved to be a failed pattern, and actually failed twice when the support levels and neckline didn’t hold.

            Gold did not imminently break out at $1890-$1880, or $1850, or lower in the high $1700’s as you were stating it would, and it actually dropped way back down below those prices, so the trend was very much down, not up in Q1. Not a big deal, and your thesis just didn’t work out. There was no reason to bring that back up again, or reference me (again), unless you are trying to stir stuff up, so let’s not go there man.

            Glen, It should be pointed out though, that you then flip-flopped over from bullish to really bearish in March, going as far as warning people they should not be buying mining stocks, and that much lower prices were in store for the next few months into the summer, with your other pattern into the low $1600’s or maybe lower. You were sure of it, and stated so over and over again, again, without posting any charts, but issuing plenty of warnings to others, and challenging other folks stating they would look like fools for buying in March with lower lows coming in April and May. You weren’t alone in your calls as many other technicians were getting very bearish in March, and expecting the downtrend to continue in Apri, May, and some even going as far as June until the “bloodbath” was over. You also mentioned Silver was heading to $22 or lower.

            However, what we actually saw play out in Gold was a double bottom in March, and a solid uptrend in the PMs in April and May, so buying in March (as I mentioned repeatedly that I was doing), was actually a good thing. I stated several times I was encouraged by the bounce, but still unsure if it was a relief rally or a breakout, and stated I wanted to see more evidence and confirmation to know if it was a bump before the slump or a new uptrend.

            This week Gold closed above both the $1850 trendline resistance for the first time since the August high, and it just closed above the 200 day moving average on the weekly, so that is a clear confirmation of the double-bottom in March now confirming the upside breakout. Also Silver didn’t crash to $22 or $21 or lower as many were stating, but actually held in its $24-$26 range, then climbed up in the $27s, and then into the $28s.

            So from that standpoint, both of the big patterns you saw and were convinced of failed. (the bullish inverse H&S pattern in Jan/Feb or the medium term bearish pattern and painful bloodbath you were calling for in March that would extend into April/May).

            Just to be clear, I hadn’t gone after you about it, or ripped you about, figuring it that it was clearly obvious to everyone that the patterns and targets from your repeated and boisterous calls had not worked out. I didn’t want to rub your nose in it out of respect for you, and it is embarrassing for someone with a much conviction as you had in your calls to have been flat out wrong. However, you tendency to keep bringing me back up is getting annoying as is your tendency to bang on your chest about you are “nailing it” when you’ve been mostly on the wrong side of the moves in Gold and Silver all year long. This is likely why you went silent for most of April and May when the PM space rallied instead of having a painful bloodbath. Now that there is a little pullback, you are back stirring the pot about more downside again. After a nice run for 2 months, the PMs may consolidate their recent moves, and that won’t surprise anyone.

            Better luck to you on the next calls, and it would really help everyone here if moving forward you’d simply post your work on charts. Rather that just throwing out numbers and then revising them over and over, it would be more instructive to state specifically WHY you see the support & resistance levels that you do, based on chart indicators like moving averages, trendlines, or strength and momentum indicators like the RSI, MACD, Slow Stochastics, ADX, CCI, TSI, etc… That is how TA works, and we’d all get value from that kind of work where we can inspect the charts visually and have a logical reason behind a certain support/resistance target.

            May 21, 2021 21:19 PM

            It is very easy to just post a chart when discussing Technical Analysis, as just mentioned, so I will do so here and back up my point showing why Gold just confirmed the breakout, that started at the March double low, (when many were calling for much lower prices in April & May).

            Note that both the downward trendline from last August’s peak through the Jan peak to around the $1850 level, and the 200 day MA at $1851 had closed above those all week, and to end the week, so it would be the same on the weekly chart as on the daily in that regard. That is a textbook confirmation of the move higher that started off the double bottom in March at the $1673/$1674 levels for anyone to see with their own eyes.


            May 21, 2021 21:44 PM

            Thanks for the chart Ex. I do note that we’ve almost completed the larger cup and handle!

    May 21, 2021 21:54 AM

    Christine Lagarde

    May 21, 2021 21:25 AM

    long DNN and NIOBF

    May 21, 2021 21:36 AM

    Good start of day (my account) : Santacruz, Telson, Emerita

      May 21, 2021 21:11 AM

      Revised good start to day: Mexus, Santacruz, New Age, Group Ten

    May 21, 2021 21:40 AM

    First hit at 9:40 EST

      May 21, 2021 21:51 AM

      3 paper contract down candles without an intervening uptick. Daily proof of the need to reinstall the “uptick rule”. Regulators don’t see it. Sure….

      May 21, 2021 21:44 AM

      2nd hit about 10:30 EST. 100% swing in miners.

        May 21, 2021 21:08 AM

        3rd paper contract hit on gold

    May 21, 2021 21:41 AM

    Hey Glen……….good comments above.
    Since the markets are rigged,anything is possible.
    I like your comment on the …..”i cant find one person on planet earth bearish not evem savage lo..”
    Best , Have a great weekend.