Robert Sinn – A Balanced Approach To Navigating Treacherous Market Conditions

Shad Marquitz
September 26, 2023

Robert Sinn, (aka Goldfinger on and publisher of Goldfinger Capital on YouTube, joins us to share his outlook on the macroeconomic data points, the general markets, and the precious metals sector moving into the last quarter of this year.   With so many risks and uncertainty fueling many markets lower, and the US Dollar and interest rates higher, we discuss a balanced approach to navigating these treacherous market conditions.


This a nuanced discussion around potential macro and geopolitical risks and their associated paths forward, the technical patterns he sees developing, while noting changes in investor sentiment with regards to US equity markets, gold, and the gold stocks. Robert shares the more defensive posture he is taking in his own portfolio and that is holding onto a larger cash position at present to be able to deploy when a more clear trend emerges.


He wraps up discussing the importance of position sizing and time horizons, knowing what one is willing to risk in a speculation, and that investors should develop their own unique strategy around these and their own risk tolerance parameters.





    Sep 26, 2023 26:22 PM

    GoldSeek Radio Nugget — Bob Moriarty:

    It’s the End of the Western Debt-Based System

    Chris Waltzek – September 24, 2023

      Sep 27, 2023 27:55 AM

      Covered in the Orphan section , 😁😎

        Sep 27, 2023 27:38 AM

        Thanks OOTB. You guys are always on the cutting edge. 😉

    Sep 26, 2023 26:28 PM

    If you aren’t a trader in these markets, you are Screwed. I have been very nimble this last month, but if you listen to others and buy into something you haven’t done Due Diligence on you get what you deserve. My portfolio has been going up, but I am constantly readjusting! Take Eloro Resources it is on my radar, but I think it will hit 69 cents, the elevator is going down except for a very few stocks. This is not investment advice! DT

      Sep 26, 2023 26:34 PM

      Moosehead Money

      Sep 26, 2023 26:53 PM

      DT, thanks for mentioning Eloro; it’s been off my radar for months—-I can now add it to my watchlist of stocks I’m waiting to purchase when they bottom. That stock looks broken for quite awhile now.

      Sep 26, 2023 26:51 PM

      Yes. Look for bargains and trade-off bargains, but look for those that are clearly showing volume and grade that are already showing easy to mine and a lot of resource.

      Sep 26, 2023 26:50 PM

      Good points DT, on being nimble and updating one’s due diligence on companies.

      For example, with Eloro, there was a lot of hype and hyperbole from retail throngs the last few years as things kept progressing with their drilling to the point when the resource estimate was getting ready to come out just a month back… Then initial resource underwhelmed the market expectations on grade and tanked post resource announcement. We’ve seen that same movie over and over again in this sector.

      There is still a lot of metal in the ground there in that resource, but a number of investors and pundits were critical as to what the economics may be to actually extract those resources in a larger operation at those average grades depicted. THAT is why the selling in ELO suddenly accelerated to the downside in late August and early September on large volume as many bailed on positions. However, there are 2 sides to every market, and there were people buying on the other side of that selling to accumulate Eloro into the recent weakness, so clearly other investors see value there. I was considering taking a deeper look myself now that it’s been taken out behind the woodshed and beaten, but there has been so much back and forth with investors lately highlighting the good, the bad, and the ugly, that to me it just seems simpler to accumulate companies with a more clear value proposition or less uncertainty.

      The point being that it is important to note when selling is the result of poor sentiment only with the story still very intact, versus when it is actually fueled by the latest news underwhelming expectations. Not every selloff in a company is a buy, if there are skeletons in the closet. However, the sentiment has been so bad lately that even good to reasonably good news events have become liquidity events. Also there have been good resource estimates put out by other companies that generated similar selling when market expectations were too unreasonably high leading into it, and then the company has to really work double-time to regain trust and show their value proposition.

      For another recent example, just look at Aston Bay (BAY) where it rocketed up 400%-500% in August into early September on good copper drill results, and now just a month later has done a return trip almost all the way back down again as gravity and reality set back in, paired with tough investor sentiment the last few weeks. That was a rocket ride up and then an elevator ride right back down again.

      For those that traded that that move successfully, it could have really bailed out a lot of losing positions in one’s portfolio. However for the “Johnny come lately” investors that piled into the stock after it had already blasted higher, following the herd….. those punters were left holding the bag. It wasn’t just those piling in on the latest craze though…. additionally, many longer term shareholders that have been upset with the selldown since 2016 or 2018, just sat in it last month watching it surge higher to those levels, and yet so many didn’t take any action to harvest great gains when they presented themselves. Those same people likely think you can’t make money in junior mining stocks, blaming the sector, but when they have the big gains, they fail to harvest over and over again. It takes looking in the mirror and personal accountability, and often people’s greed or fear emotions cloud the logical path to successful speculating.

      As we’ve mentioned many times on here… these junior resource stocks are often like “lit matches” and it is typically best to take the wins when they present themselves (at least on partial positions) as they often disappear quickly after going up one side of the parabola and then down the other side of it.

      Out of thousands of junior mining stocks for the last decade+ there have been very very few that have been longer term buy and hold positions for years. This has not been a Livermore “be right and sit tight” sector, and those that conflate commodity juniors with the blue chip general equity stocks he was talking about in his book have missed the point the whole way along. These stocks have been trades, not buy and holds for many many years now. Most have a season or two of upward thrusts (3-6 months typically… maybe a year or so) and then after such outsized gains, they either channel sideways to down or worse, some turn right back down again with a vengeance. Knowing when to sell is just as important as knowing when to buy.

        Sep 27, 2023 27:16 AM

        Well put Ex, everything you talk about is in depth thinking. I believe that selling is much harder to figure out than buying. Harvesting gains as you point out is a win for any investor and if it goes higher after you have cleared the table you are still a winner, easy to say but tough to do. Selling begets selling like they say there are a million reasons to sell and only one to buy. That makes liquidating a position very hard to do. The only time to buy and hold even for a short to medium term is after a market meltdown and even then, it is difficult because sentiment is in the dumpster. DT

          Sep 27, 2023 27:04 AM

          When a stock has a terrific run and the herd piles in and the investors who bought at the top or near the top lose their money most of them hang around the Bullboards and continually trash the company when instead they should be looking at their own personality for the failure they are experiencing. This influences so many others who do no Due Diligence but just buy based on what others say. This quite often can keep a good company in a loosing proposition for a long time, and you as an investor must take that into consideration.

          I recently noticed a stock called Lavras Gold and Luc Ten Have mentioned he had just bought in. He must have a cult following because this stock went up day after day after he told an interviewer he had bought because he thought their drill results resembled Snowline Gold. All I can say is Sell, Sell, Sell, but most won’t. You can’t change human personality all you can do is view it and learn to profit from it. LOL! DT

            Sep 27, 2023 27:46 AM

            Yes, good points DT. The key is investors doing their own due diligence and taking responsibility for when they buy, at what price they buy (all at once or averaging into a position in tranches), and when they sell and at what price(s). More often than not though, speculators blame others or external forces for results received on the decisions that they personally made, dodging the personal accountability they should have for their own actions.

            As for Luc Ten Have, he is a big influencer over at, and also has recently launched a website that is focused around giving resource investors tools for analysis and due diligence. He’s a very sharp guy, and we’ve been pals for about 6-7 years now over at We also just hung out a bit in person at the Beaver Creek conference a few weeks back, and are working on getting him scheduled on the show sometime in the future. Stay tuned…

    Sep 26, 2023 26:02 PM

    Is America destined To Fall Like Rome! If you look at America when it was in its Hey Day, I will say late 1950’s early 60’s when California was the place to be and check it out now! America now looks like a recreational land fill site. LOL! (Victor Davis Hanson)

      Sep 27, 2023 27:03 AM

      Perverts running the show… just like, Roman times.. actually it is just the continuation of the group from Rome

        Sep 27, 2023 27:28 AM

        Jp Morgan settles Epstein case for $75million.

        The People will not be able to see all the scum involved

    Sep 27, 2023 27:50 AM

    Hey DT. Believe it’s been you who keeps calling for a real estate crash in Canada. I’ve wondered the same and felt similarly. I’m starting to wonder if the most simple fact keeps it from happening. Supply vs demand. With immigration being what it is, will supply ever become greater than demand. Rate hikes so far hasn’t changed that.

    Sep 27, 2023 27:55 AM

    Hi Wolfster, you are right immigration has had an effect on the housing market but its only short term. The interest rate hikes will crash the housing market as they take hold and increase. Debt levels are at historic highs and the governments carbon tax is really biting into everything as well as the numerous other taxes that are added on, tax upon tax.

    I remember back in 1989-90 we had a housing crash and quite a few of my trade union brothers had bought multiple properties. Most of them lost everything and you couldn’t tell them at the beginning of the downturn that hard times were a “comin”. The hard luck stories and the heavy drinking was not pleasant to watch as most lost not only their money but their families and then there wasn’t steady work for many years. When boom times turn to bust just like in the oil patch if you don’t prepare for the inevitable you will be made to feel the pain of reality. After the initial crash it took the housing market here 8 to 9 years of continuous correction before it began to turn around. The pendulum had overswung to the positive side and then overcorrected similarly in the negative swing.

    It’s like the market crash in 1929 hardly anyone saw it coming and when it came it happened on October 24th, a day of infamy. Nowadays we have more information at our fingertips but first you must realize that all markets go up and all markets go down and boy have we had a doozy this time. DT

      Sep 27, 2023 27:50 AM

      Remember it well. I was a painter back then. The general contractors started joining the investors in the deals. For 3 yrs or so they lived large then they went bankrupt. Stiffed all the trades…..and then started up new companies under a different name….. only problem is that while liberals are in power immigration is always higher. Rates haven’t hit the capitulation point yet it seems.

    Sep 27, 2023 27:43 AM

    Hold the hate mail…I am extremely bearish on da damn dollar right here…..over 2 standard deviation moves in currencies are so rare as to be contrived…..UUP is floating up on 10fold less volumes that the weekly bars it is encountering…..that is true…mark up with no one interested…contrived…

    Also, I learned a harsh lesson w this trade…I let hype get under my skin and fudged my chart views a bit…never again…..all those hype commodity sights are liars as far as I am concerned for evermore…glta

      Sep 27, 2023 27:23 AM

      UUP:GLD broke above my “important resistance” yesterday and today’s much bigger leap is consistent with that level being important. It is now overbought and sitting at a 10 month high…

        Sep 27, 2023 27:44 AM

        If you see this Matthew…Try putting that ratio on a weekly chart…I am interested if it is a weekly bearish 3 gap play to the upside…glta

          Sep 27, 2023 27:59 AM

          The weekly shows potential for further upside but that doesn’t guarantee much further downside for gold…

            Sep 27, 2023 27:10 PM

            thanks so much Mathew…..There are several sets of 3 gap up plays…This by far is the largest cleanest blow off gap…..People panic in stuff on light volume at tops all the time…..

            Sep 27, 2023 27:16 PM

            day uup sure looks to be 3 gap reversal play…….no volume and fairly equal gaps are a characteristic…..also we are forming a top hammer…what is not to like?…glta


            Hope you this Matthew…pretty interesting actually….

            Sep 27, 2023 27:41 PM

            A daily scale pullback looks very likely very soon but I’m not sure that it will turn into an intermediate pullback based on this picture. It all depends on the euro (which IS currently daily oversold)…

            Sep 27, 2023 27:59 PM

            A caveat regarding that blowoff gap in UUP also pertains to gaps in gold and silver: Like gold and silver vs GLD and SLV the dollar keeps different trading hours than UUP so gaps aren’t always quite as meaningful as they are in stocks.

          Sep 27, 2023 27:14 PM

          The terrible looking euro could push the dollar (index, not real dollars) higher for a long time but I’m betting the dollar will soon stop moving higher versus gold (or in general purchasing power). It can’t be stated often enough that the dollar’s purchasing power can fall even while it appears to be rising or at least holding up based on the dollar index since the index contains nothing real to measure the dollar against.

    Sep 27, 2023 27:48 PM

    In my world, my best performers have been my worst performers. I know it is hard to believe, but when this pattern occurs, it returns my account to a zero balance over time. Translated it means that “ there is no qualitative difference between miners for any reason. “ Does that work with anyone’s theory other than intervention. I will continue to buy and the priority buys will be the those that have been hit the hardest after the biggest gains. Examples: surge Battery, Emerita, Aston Bay, Santacruz, Magna Mining, I-80, Eloro as well as West Red Lake that I got into cheap. Just a few of the good buys created by intervention.