A Bull Market Approaching A Critical Test – Goldfinger’s Trading Lab Morning Email

August 20, 2021

I have been reading over Goldfinger’s daily email for a few months now and I really enjoy his to the point commentary on the metals. After his note yesterday morning I reached out and asked if I could post his thoughts. Here are his thoughts on the gold sector.

Click here to follow along with Goldfinger’s thoughts on the metals.

Since we appear to be in a relative lull in terms of junior mining news, I decided to make a video last night that details what I’m seeing out there across markets. 

Reflationary assets and stocks such as copper, oil, BHP, CAT etc. are all having horrendous weeks as investors become increasingly concerned about the rise of covid variants and the potential for a Fed taper before year end. 
Whatever narrative we want to use to explain market behavior, the fact is that there are dozens of critically important charts facing a critical test in the coming days. The final two weeks of August are typically a sleepy time of year for the stock market, that might not be the case this year….

In Gratitude, Robert

    Aug 20, 2021 20:08 AM

    Exceptional listen. Thanks Cory.

    Aug 20, 2021 20:44 AM

    I haven’t listened yet but it seems to me we are already in the critical test.
    K92 collapsed 25% in 2.5 weeks and now looks good for at least some capital deployment.

    *I do not own it. Do your own due diligence.

    Aug 20, 2021 20:50 AM

    Another good listen on markets. Many of us can learn some good technical rules by listening to Soloway.
    Personally, I think there’s a good chance of a low in the miners today. I like the action with DOLLF the past two days. Fingers crossed.

      Aug 20, 2021 20:14 AM

      Goldfingers crossed. 😉

        Aug 20, 2021 20:33 PM

        Haha! Good one Matthew.

      Aug 20, 2021 20:35 PM

      Agreed Silverdollar. I’ve really been enjoying Gareth Soloway’s trading comments over the last year, mostly in the interviews I’ve seen him do on Kitco with David Lin. He’s a sharp guy and has a healthy mix of technical analysis and macro economic understanding. Thanks for the post.

    Aug 20, 2021 20:29 AM
    Aug 20, 2021 20:47 AM

    The Afghan refugees wish they had gold in their pockets.

    Aug 20, 2021 20:04 AM
    Aug 20, 2021 20:08 AM

    Today’s low for GDX was 4 cents above its March low.

    Aug 20, 2021 20:23 AM

    GDX has taken out its covid low relative to QQQ but looks like a better long term buy/QQQ sell this time.

    Aug 20, 2021 20:27 AM
    Aug 20, 2021 20:29 AM

    The Fed Prepares For Jackson Hole

    by @Goldfinger on 20 Aug 2021

    Aug 20, 2021 20:09 PM

    Bail out of banks continue and no interest rate increase. I just eliminated the need for Jackson Hole and associated costs. In the meantime, the MMs are building a stash of miner shares to sell back to us after blowing our stops.

    Aug 20, 2021 20:37 PM

    Got past my wash period on first wave sold in mid July, but Monday & Tuesday will be when the 2nd and 3rd wave of tax loss sales are up to buy.

    Today I started to add back to some positions (EQX), (AUMN), but also opted to fortify positions in solid producers like (CXB), and (AGI) further.

    I also got back into (ANX) again, as Anaconda has had a nice pullback from it’s highs, has finally put out it’s resource estimate at Goldboro which looks solid, and they have that selective mining underway utilizing Novamera’s surgical extraction processes (run by prior CEO Dustin Angelo).

      Aug 20, 2021 20:42 PM

      Depending on how the markets open up next week, I plan on adding back big chunks of my (IPT), (PGM), (EXN) (GRSL) (KTN) and (LIO).

      On the batteries front I’m going to be adding back my (HPQ) and (EFL) soon as well.

      Ever Upward!

        Aug 20, 2021 20:13 PM

        Ex: I had moved my tax sales from Novo and Eloro for safe keeping and appreciation to Emerita. Rather than move them back, I elected to keep them in Emerita and sell some others and add to my Big Ridge and Labrador. Brilliant moves as over the last week or so, the miners in my account hit the most were Emerita, Big Ridge and Labrador. I cannot explain how I foresaw clearly this possible outcome. I am left speechless, fortunately for others.

          Aug 20, 2021 20:30 PM

          We chatted with David from Emerita today, and will be bringing them on the show in a few weeks. Stay tuned…

            Aug 20, 2021 20:46 PM

            Emerita has had a couple of good drill hits in there program to confirm previous drill results before various historical issues that arose. They have to do that to support a new 43-101 based on current modern procedures. Looks like there will be more of what was a lot in the past. What is different in this “junior” miner is what is known about the resource. They are far from starting from a green field operation. This is my biggest share holding and I expect it to grow as price suppression becomes more difficult.

            Aug 20, 2021 20:57 PM

            there = their

        Aug 20, 2021 20:49 PM

        Doc Jones expects a $4 Bil market cap in a couple of years…we will see.

          Aug 20, 2021 20:04 PM

          Yes, Doc Jones mentioned that to us as well. It will be interesting to see where things head from here, after such a big move in 2021, bucking the trend of most mining stocks. David, congrats again on catching that move higher in Emerita, and hat tip to Doc Jones as well.

          Personally, at this point, I’m more keen to look at companies that have been beaten down to a pulp and haven’t had their big moves higher yet, but will move once the worm turns in the resource stocks. Cheers!

    Aug 20, 2021 20:04 PM

    How do vaccinated people spread Delta? What the science says

    Emerging data suggest that Delta could spread more readily than other coronavirus variants among people vaccinated against COVID-19. But key questions remain.

      Aug 20, 2021 20:20 PM

      Chris Martenson has reviewed some data that indicates something similar. Evidently people that have been vaccinated, coupled with Covid/Delta add-on could make them asymptomatic but carriers of high levels of the virus. Obviously a need for masks to reduce spreading opportunity.

      Aug 20, 2021 20:25 PM

      I think the other side of that coin was that vaccinated people who had covid were the most immune from serious hospitalization and death…like close to zero chance of death. Don’t hold me to it as I don’t keep up with it that much.

    Aug 20, 2021 20:44 PM


    Aug 20, 2021 20:51 PM

    Robert Malone, MD, MS
    Internationally recognized scientist and original inventor of mRNA- & DNA-Vaccination Technologies

      Aug 20, 2021 20:16 PM

      Beaten to a pulp is a group with unlimited choices. Keep letting us know which pulps you pick. Thanks for the top notch stuff you and Cory are doing. Hard to keep up and that is good news.

    Aug 20, 2021 20:34 PM

    COT report—-silver positive for bulls; gold negative for bulls.