Key levels for gold, copper, HUI, and what new investors in the resource space need to understand

April 27, 2021

Robert Sinn, AKA the technical trader Goldfinger joins me to share some of the key levels he is watching for gold, copper, and the gold stocks ETF HUI. We focus on the big picture of the rebound this month in gold and gold stocks to assess if a new uptrend is being established. We also start discussing a couple key factors that new investors in the sector need to be aware of when it comes to the smaller stocks.

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

Upcoming Webinar – April 28th @ 11pm PDT (2pm EDT) – Royalty Roundtable featuring some of the top mid-tier royalty companies in the sector. We will focus on investing in the royalty sector. If you have any royalty investments or are curious about what to look for in royalty companies you will want to sing up and tune in. It’s free and we will be taking your questions.

Click here to sign up!

    Apr 27, 2021 27:37 PM

    Copper MaxSat(7). Platinum, Lithium possible.

    Apr 27, 2021 27:15 PM

    NSRPF just might hit 1.65 and maybe even 1.53+/- in the short term.

      Apr 27, 2021 27:24 PM

      Weeks out, 1.37 or so looks easy if the sector doesn’t get moving.

        Apr 27, 2021 27:12 PM

        Thanks for those Novo charts Matthew. I want to add another tranche of Novo, but wanted to see if things move down to the next layer of support, after the recent selling pressure. It looks like it has further to drop based on the OTC chart, so I’ll wait to see if that coincides with the May weakness that some technicians have called for. Overall the moves up in the PM miners since the March lows have been constructive, but not really strong, so I could see things pulling back a bit more in a number of stocks, before a more sustained leg higher.

    Apr 27, 2021 27:02 PM

    Nice to get @Goldfinger’s thoughts on the precious metals & copper, and investing in the resource sector.

    I agree that so far it looks like April is going to have a nice monthly candle.

    Ever Upward!

      Apr 28, 2021 28:51 AM

      Bob Moriarty: Gold Has Seen Its Low For 2021, The World Is Short Of Copper Right Now

      by Ceo Technician @Goldfinger – April 28, 2021

      > Goldfinger: “Do you still feel very strongly that the stock market is at the very final stage of a topping process?”

      >> Bob Moriarty: I”’m going to say yes but it’s such an important top. It’s a top that could go on for months. We are seeing things happen that are absolutely historic. We’ve discussed Bitcoin many times in the past. Bitcoin went to $64,000, Dogecoin going to a market cap of $48 billion, an NFT selling for $69 million, an NFT of a fart selling for $85. These are simply crazy. There’s an argument about whether we’re going to have inflation or deflation and the Fed’s taking the position they can literally dump money on markets until they run out of trees and ink and it won’t change anything. I see it as the most dangerous market in history.”

      > Goldfinger: “And we’re not talking about millions here, we’re talking about billions. At the $.45 price (for Dogecoin), the market cap is more than $50 billion. So Newmont Mining is the world’s largest gold producer and it has a market cap of around $50 billion and it generates profits of two to three billion dollars a year in net income and pays dividends to its shareholders. Dogecoin doesn’t generate any profit, doesn’t pay anything to its owners. Dogecoin’s functionality isn’t markedly different from hundreds of other cryptocurrencies. So we’ve really reached a place of complete absurdity.”

      >> Bob Moriarty: “Yes. Well you should go into the dividend at Newmont. Newmont, which is a solid company, is paying 3.5%. Now, I’ve got a paid deposit in a bank so I can get a credit line, the credit card and I had to deposit 15 thousand dollars to get a 10 thousand dollar credit on that card so I literally am borrowing my own money, which is kind of cool. So they charge me interest on the credit card, but they also pay me interest on the deposit. Now last quarter, I think they paid me $1.47 cents for the quarter. I looked at it and thought, “What the hell is this?” We’re in never, never land… And this is going to end badly and Dogecoin represents everything that I believe that is fraudulent about the entire market.”

      > Goldfinger: “It’s completely absurd. So let’s talk about gold. Gold almost traded at $1800 overnight, it actually hit a high of $1798 and gold has been in an uptrend since bottoming in the $1670s in March. Do you think that we’re in for more upside over the rest of the year? Or do you think that it’s going to be kind of a tough slog here where we trade in a range?”

      >> Bob Moriarty: “I think gold is climbing the wall of worry. There’s a lot of things that could happen, all of which are bad for the economy and good for gold. Now, just as a pure coincidence, and I can talk all day long about buying cheap and selling dear, but I literally was buying some British Sovereigns the day of the low, I mean I was buying within a few dollars of the low. I think we’ve seen the low for the year. I think the danger is to the upside and it could go a lot higher. When the general public realizes the insanity of the stock market, the insanity of the crypto coins, the insanity of NFT, the insanity of SPACs they’re going to want to go something real. You don’t have to like gold or silver but it’s something real.”

        Apr 28, 2021 28:37 AM

        Speaking of market insanity and absurd valuations….

        I’ve had a blast the last few days day trading and swing trading the latest “meme stock” that the Wallstreet Bets crew has put in their crosshairs…. MicroVision Inc (MVIS).

        To be clear, I don’t see the valuation as hinged upon reality, and don’t see it as a good investment, but I didn’t make anything on Gamestop or AMC or Hertz, but thought I’d milk a little dumb money out of this trend.

        Once I found out MVIS was the latest stock that the retail hordes were pushing around, I bought on Monday (04/26/2021) at $22.87, and then completely sold out in afterhours that day at $28.33 for a nice day-trade. Then I bought MVIS back yesterday at both $22.86 + added more at $19.50 and just swing-traded out of it this morning at $23.33.

        These Reddit, Robinhood, Wallstreet Bets type of momentum plays, that push heavily shorted stocks (which were in serious trouble for a reason), to ridiculous levels higher, have got to be a sign of the times, and are a bell ringing that the market speculation is nearing peak froth. (ding, ding, ding)

        Dinner is served… put a fork in it…. 😉

          Apr 28, 2021 28:45 AM

          Ex: You are having too much fun! Ever Upward!

    Apr 27, 2021 27:25 PM

    Matt,Galleon is starting to make a move!!
    Drill results get better and better.
    Think we may have a winner here!!

      Apr 27, 2021 27:19 PM

      I agree! The company is cheap for what it already has is about to get a lot cheaper with the new resource estimate that’s coming up.
      It was up as much as 115% today since bottoming last month.