Broad market selloff today – We focus on inflation and gold stocks

July 19, 2021

Robert Sinn, AKA Goldfinger over at joins us to share his thoughts on the selloff today and how it’s also a barometer for the inflation and transitory debate. This ties into the move higher in bonds (falling yields) and continued selloff in commodities. We also focus a lot on the selloff in gold stocks over the past two months.

Click here to visit the Energy and Gold website to follow along with what Robert is watching in the markets.

    Jul 19, 2021 19:54 AM

    Dipped a toe in GSVRF -1st buy-$.2971

    Jul 19, 2021 19:56 AM

    Added to VIZSF @ $1.80
    Still 8% cash

      Jul 19, 2021 19:21 PM

      1st re-entry into EQX @ $6.15

        Jul 19, 2021 19:05 PM

        I sold the starter position I had reinitiated in Equinox today (along with trimming or selling a dozen other positions) for tax loss purposes; to wash out some of the capital gains I’m sitting on for this year, and will redeploy in a month.

        As for Vizsla, I still have a nice profitable position in it, but the gain has narrowed from where it was, and so considered adding to it, but opted for averaging down into some of the other stocks that got monkey-hammered down to underwater positions lately.

        With almost everything dropping across the board, it was hard to decide where to cut bait, and where to average down, but it was a very active trading day for me overall with 23 trades.

    Jul 19, 2021 19:27 AM

    Michael Boutros (Gold @ 41:20) :

    Jul 19, 2021 19:31 AM

    Bought some GPG today for the 1st time. Stop the bombing!

    Jul 19, 2021 19:41 AM

    Shadowstats (John Williams) says inflation is currently running at 13% based on the old methodology: which was to measure stuff that people actual buy to live on. Just a guess, but I would say The Fed is wandering through the parallel universe to say 2%. But, probably the mail gets delivered on time … 2% of the time.

      Jul 19, 2021 19:49 AM

      Agree with Shadowstats that inflation has been running 10%+ for a long time. Accelerating now. If you are an investor in PM and don’t see the level of inflation, you should put your money into something else.

        Jul 19, 2021 19:18 PM

        I see the inflation…that makes it extremely questionable about the wisdom/honesty of leadership. I choose not to believe them. But, I also do not manipulate markets or fail to regulate them. Therefore the metals appear to be the appropriate investment.

          Jul 19, 2021 19:25 PM

          ⏳ more pain to come

            Jul 19, 2021 19:08 PM

            Gold hardly moved today. Debt still increasing, 10 year rate still dropping, dollar still worthless, inflation much more than stated, people filling up ERs again, society dysfunctional, climate change picking up spreed…what’s not to like about PMs.

    Jul 19, 2021 19:11 PM

    The owner of the candy store is getting into his car to drive to open the shop. He lives quite a distance from the store so we lovers of his gummy bears will have to wait a bit longer before we purchase at great prices.

      Jul 19, 2021 19:00 PM

      Does the guy that owns the Twizzler shop live any closer?

      Jul 19, 2021 19:04 PM

      I have my stink bid valid for 60 days to buy Barrick at $17 and PAAS under $22

        Jul 19, 2021 19:10 PM

        Cali, I would say the odds are with you.

          Jul 19, 2021 19:13 PM

          I’ve been waiting for this sell off and figured months ago that most of these stocks would see a fibonacci retracement of 50+%. It appears it’s going to happen.

            Jul 19, 2021 19:21 PM

            Yes you did. Do you see mining stocks taking off or it would be a gradual, more like a rounded bottom and we won’t see rise until later in August or even Sept?

            Jul 19, 2021 19:51 PM

            Cali, excellent question; in fact, I’ve been thinking about the options you just posted this very night. I’ve the feeling that when we bottom (double bottom for most of these stocks with the bottom of March 2020), we start the climb gradually instead of climbing like we did in March. I’ll have a better feel for this when we bottom.

            Jul 19, 2021 19:59 PM

            Good call Doc. You were right to have waited in cash for the candy store to open.

            I traded out of some stale and broken up candy today, for tax loss purposes, and took some of the funds to refortify the candy that went on clearance sale, and held some funds back to repurchase some of the positions I sold today in 30+ days.

            Bittersweet to Sour candy for now… but we’ve seen the candy store closed many times in past, and while us kiddos may not like it, when the store reopens, the deals will abound. Cheers!

            Jul 19, 2021 19:53 PM

            Thinking I might sell some of my producers and purchase Jan2023 calls, freeing up some cash for a trip to that candy store.

        Jul 20, 2021 20:30 AM

        I have stink bids on PAAS: $24.80, 24.20

          Jul 20, 2021 20:30 PM

          It would appear those stink bids didn’t get filled today. You are very good at getting good bottom fish orders though Marty, so I like when you give the targets you are looking at to place a bid.

    Jul 19, 2021 19:52 PM

    Good one! Thanks……….