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Dave Erfle – The bounce in gold, silver and the stocks continues, here’s what to watch for this rally to continue

Cory댊
October 14, 2021

Dave Erfle, Founder and Editor of The Junior Miner Junky joins us to share his thoughts on the bounce in precious metals and the stocks. There are some key resistance levels to watch on the way up but the pop from the breakdown levels a couple weeks ago has been strong and is encouraging for the higher quality metals stocks.

 

 

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Discussion
27 Comments
    Oct 14, 2021 14:55 AM

    Miners were way oversold and this is just an oversold bounce. They may rally for few weeks but they will eventually come back down to test lows again. Only miners that may move and hold is off they have super drill results. So if you added months ago and are close to breaking even on those shares sell, keep long term stocks that you bought when they were really low and hold for long term, but gold will disappoint again and drag juniors down again.

    Reply
    BDC
    Oct 14, 2021 14:21 AM

    STATS Price Quality: https://tinyurl.com/2vc9pznu
    Earliest Perfect MaxSat(7): (L)ight Charcoal
    Turn bogeys. Updates reveal actual.

    Reply
    Oct 14, 2021 14:34 AM

    The stock market is very likely to fall versus gold for months.
    SPY:GLD weekly
    https://stockcharts.com/h-sc/ui?s=SPY%3AGLD&p=W&yr=5&mn=11&dy=0&id=p35958767386&a=1015547995

    Reply
    Oct 14, 2021 14:47 AM

    It is very unlikely that this is an oversold bounce because of what it has accomplished. The miners have been taking back broken supports of all kinds (moving averages and trendlines including forks, speed lines, Fib fans, etc.) and doing so while greatly outperforming the metals themselves. The March low came with no such hurdles above. For example:
    https://stockcharts.com/h-sc/ui?s=%24HUI&p=W&yr=3&mn=3&dy=0&id=p61163397055&a=933405939

    Reply
    Oct 14, 2021 14:17 AM

    This is the best setup in 6 years in some respects including sentiment. Overall, the technical setup is much better today than it was before the huge move of 2016.
    https://stockcharts.com/h-sc/ui?s=%24XAU&p=W&yr=5&mn=11&dy=0&id=p12932541153&a=949748838

    Reply
    Oct 14, 2021 14:21 AM

    AEM is at important resistance. Let’s see if it pulls back or plows right through it first…
    https://stockcharts.com/h-sc/ui?s=AEM&p=D&yr=1&mn=3&dy=0&id=p47156345741&a=977703006

    Reply
    Oct 14, 2021 14:23 AM
    Oct 14, 2021 14:13 PM

    GDXJ has taken back its 6 year MA and looks superb overall (it took back its 10 year MA last week):
    https://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=6&mn=1&dy=0&id=p37022836482&a=1040017498

    Reply
    Oct 14, 2021 14:24 PM

    Brixton’s daily RSI(14) reading has bullishly broken out to a new 14 month high. That’s an observation and not advice. I own plenty of shares and am biased even though I try not to be.
    https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=5&dy=0&id=p71818184549&a=948101665

    Reply
    Oct 14, 2021 14:38 PM

    Impact Silver’s daily RSI(14) is at a 15 month high after breaking through several resistance levels. A pullback to .53-.52 would be a gift and a strong buy in my opinion. Again, that’s not advice and I own plenty of shares.
    https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=0&mn=11&dy=0&id=p06848946591&a=1043153940

    Reply
    Oct 14, 2021 14:52 PM

    Silver has confirmed a head and shoulders bottom that targets $25+…
    https://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=1&mn=5&dy=0&id=p86590224183&a=937970450

    Reply
    Oct 14, 2021 14:38 PM

    We have new daily chart buy signals for the stock market today. The following is the Nasdaq 100 but the others are similar…
    https://stockcharts.com/h-sc/ui?s=%24NDX&p=D&yr=1&mn=1&dy=0&id=p22995774920&a=979061888

    Reply
    Oct 14, 2021 14:04 PM

    I think John Q Public has figured out that inflation is for real. Most of my Jr’s doing well, a plus for being all in.

    Reply
    Oct 14, 2021 14:21 PM

    Matthew:
    You have been putting up a bunch of good positive charts lately. I am running behind this week, bur just wanted to say thanks.

    Reply
    Oct 14, 2021 14:54 PM

    2012 the Aussie government was worried about survival of Tasmanian Devil so they moved a few of them to an island in the Tasman Sea which was home to about 3000 penguins. 2021 not one penguin sighting on the island…. all gone.

    Reply
      Oct 15, 2021 15:55 AM

      Maybe put a few in the New York lobby of JPMorgan.

      Reply
    Oct 14, 2021 14:55 PM

    SLV:GLD closed above its daily P pivot for the first time in 5 weeks and has broken its 4 month downtrend. It’s a good thing for the whole sector when silver outperforms gold…
    https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=1&mn=0&dy=0&id=p71972687495&a=665566953

    Reply
    Oct 14, 2021 14:37 PM

    Those who bought the MACD buy signals that I pointed out over a week ago are up about 8% in GDXJ and SILJ and much more in individual miners.
    HMY is up 22% since I posted this on the 4th:
    HMY opportunity knocking…
    https://stockcharts.com/h-sc/ui?s=HMY&p=D&yr=1&mn=5&dy=0&id=p76564258430&a=985516989

    Reply

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