A Position in DUST And Levels to Watch For PM Stocks

October 19, 2017

David Erfle, Editor of the Junior Miner Junky joins me today to share the reasons why he is taking a short term position in DUST. We discuss the movements in the USD and US markets plus the upcoming Fed meeting in December. While the DUST position carries a negative outlook for the sector there are regions that we are look for in certain metals charts that could be great buying opportunities. We also take a look a the Auryn chart as the sell off today is taking the stock to some interesting levels.

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    Oct 19, 2017 19:15 AM

    I guess chartism works, until it doesn’t.

    The US dollar may break up, because of stupid EU behavior, but will Europe sell gold? I think not.

    Oct 19, 2017 19:20 AM
    Oct 19, 2017 19:44 PM

    Drill results and fundamentals mean more than charts.

      Oct 19, 2017 19:14 PM

      This example proves the opposite point. The chart was breaking before the news.

        Oct 19, 2017 19:40 PM

        A chart may be a sign that something is good or wrong but it is still moving on fundamentals first. IKN was warning about Auryn weeks ago based on fundamentals and news and now the chart and markets are finally waking up. You can see his old posts searched by date.

        The discussion today about Auryn was about buying it based on a chart pattern. I would never make a trade on a chart alone. Look at fundamentals and then charts later to try to get your timing right. Something needs to change other than a chart pattern before I would consider buying it.

    Oct 19, 2017 19:07 PM


    October 16th, 2017

    Oct 19, 2017 19:09 PM

    Wat tooooo much “consensus” om the x-gold bugz here. Major bottom has arrived. I remember the gold market ran up the last time the U.S stocka market went parabolic in 2007. Why is gold tanking when the “drunken sailors” are back? Amazing ignorance is back!!! Thaks for the tip Dave

    Oct 19, 2017 19:55 PM

    Anyone notice rhodium upto $1395? That came from no where.

      Oct 20, 2017 20:43 AM

      Yes, odd move in Rhodium.

      The Palladium price has also been peppier than expected over the last year. It remains above Platinum as many have pointed out which is very interesting. Platinum is undervalued in relation to these metals moves, so I believe 2018 may be Platinum’s year.

        Oct 20, 2017 20:33 AM

        Platinum is stuck on hold………..

          Oct 20, 2017 20:57 AM

          Palladium $966………

            Oct 20, 2017 20:32 AM

            Palladium has just been crazy this year and hardly anyone is talking about it’s run out in the marketplace. Amazing disconnect and lack of interest from the investment community when it has been on a tear…

            Oct 20, 2017 20:37 AM

            most can not even spell palladium, …….amazing is correct……

            Oct 20, 2017 20:38 AM

            Just what is driving the price……..?

            Oct 20, 2017 20:40 AM

            Just read where Merc Benz, was having problems with their diesel cars…..

            Oct 20, 2017 20:37 AM

            Palladium price consensus forecasts point to end of the rally
            Frik Els | Sep. 18, 2017


            Oct 20, 2017 20:12 AM

            Thanks for the info………………OOTB

      Oct 20, 2017 20:30 AM

      On October 20, 2017 at 5:19 am,
      OOTB Jerry says:
      Rhodium……………..looking good………
      Reply to this comment
      On October 20, 2017 at 5:20 am,
      OOTB Jerry says:
      5 yr….cup and handle………
      Reply to this comment

        Oct 20, 2017 20:31 AM

        Sorry, posted before reading Ozi’s

        Oct 20, 2017 20:42 AM

        Break out of the cup and handle…….. $1440………..hello………

    Oct 20, 2017 20:20 AM

    I’m going silent for a while. I think the metals are in a bull, but the miners could tag their 600 DMA before this correction ends. Godspeed. Over and out.

      Oct 20, 2017 20:45 AM

      spanky – you a hilarious! I’m not sure which is more of a knee-slapper – that you are “going silent” or that you “think the metals are in a bull.” 🙂

      As a reminder here were your thoughts on Wednesday and it didn’t sound at all that you “think the metals are in a bull.”

      On October 18, 2017 at 10:53 am,
      spanky says:

      “2016 was nothing but a blip in the ongoing commodity bear. It literally rallied for 6 months after 5 years of getting absolutely smashed to 40 or 50 year lows. It has now basically given back all of those gains after a year and a half. To me it is poised for another leg down. It needed some time for the long term moving averages to catch up to price, which they have now done.”

      “Best case, it will go sideways to slightly down as the 200 WMA continues to drop. Then maybe a suckers rally back to the 200 WMA, and then another 4 -5 years of basing action.” — Spanky

        Oct 20, 2017 20:47 AM

        Difference between gold and the commodity complex as a whole, big difference. But anyway I looked at the long term MAs for the miners and just decided to relax as long as they are still shaping up. That doesn’t rule out near term pain obviously. And if we were to break significantly below say the 200 WMA in the miners, I don’t think it would be a very healthy sign, but even then, a spike low could end up being a headfake in hindsight. I’ll have to re-evaluate if and when it ever comes to that.

          Oct 20, 2017 20:56 AM

          Come on man. You had no problem lumping Gold in with the Commodity complex last month. You change your opinions like we change our underwear.

          On September 21, 2017 at 3:08 pm,
          spanky says:

          “$indu:$gold ratio about to explode to new multiyear high, and put the 200 month MA behind it for good.”

          “Face it, commodifies are deader than dead. They will be basing for years to come, if not breaking to significant new lows soon.

          “The yen is headed to the dustbin, and along with it commodities and gold. Yes, gold will out perform yen in the very very long run, but we are all dead in the long run.”

          “This is where the commodity bulls who have been devastatingly wrong for a decade are going to get their faces rubbed into it in spectacular fashion as the Dow heads to the moon and their precious commodities in the opposite direction.” — Spanky


          If anything breaks below the 200 week MA then it is generally going through a corrective move, but let’s see how it plays out. I’m giving them the benefit of the doubt to stay in a bull market, but if it turns against me, it will cost me a lot of money and sting but I’ll react accordingly.

      Oct 20, 2017 20:29 PM

      I hope you’re not going silent on account of my harsh comment, Spanky. But if I were cranking out throwaway analyses on the bull side, I bet people would let me have it.

      I don’t have a beef with you. It’s valuable to give the bear case a hearing. If there’s no real bears, a devil’s advocate is better than nothing. I would just suggest more emphasis on quality vs quantity.

      The precious metals markets are maddening–let’s not let the bastards get us down.