Dave Erfle – Market Moves That Would Signify A True Uptrend In Gold Stocks

October 27, 2023

Dave Erfle, Founder and Editor of The Junior Miner Junky joins me to highlight a few charts and inter-market analysis that he thinks could signify a shift of interest toward gold. We focus a lot on gold stocks looking at majors down to juniors. Dave points to one junior that might have just bottomed and what to look for in charts that could signify a solid base.



Click here to visit Dave’s website – The Junior Miner Junky.


    Oct 27, 2023 27:55 PM

    I neglected to mention as the stock market continued to decline on Thursday, Newmont Mining (NEM) ended the day up on its largest daily trading volume since 2019 after missing on Q3 earnings due to a decline in production. After the Newcrest merger with Newcrest is completed before year-end, the combined entity will boast a multi-decade production profile nearly twice as large as number two gold miner Barrick while paying a healthy dividend just 1% lower than short-term Treasury bonds and savings accounts. I expect the huge volume came from a combination of short-covering, aggressive hedge funds, and smart money expecting a breakout in gold before year-end. After testing long-term critical support at $35 in September, the stock printed a weekly bullish hammer and has stiff initial weekly resistance at $40. A strong weekly close above $45 would likely be another signal for a major bottom being set in the mining sector. Full disclosure: I hold 700 shares of NEM in my SEP IRA account.

      Oct 27, 2023 27:00 PM

      Thanks for your years of outstanding thoughts and wisdom. We appreciate your contributions.

        Oct 28, 2023 28:53 AM

        Thank you for following my work and the positive feedback over the years is very much appreciated.

    Oct 27, 2023 27:28 PM

    GDX looks superb vs the stock market and closed at a 3 month high vs DIA…

    Oct 27, 2023 27:32 PM


    Gold just popped over $2000

    Oct 27, 2023 27:39 PM

    5 more days of all time lows. Made a few swaps including buying some Big on the pull back. Picked up some Emo with some Surge profits and will reverse the process next week to take some long term losses of Emo while lowering share cost and rebuy Surge.
    Should add that I still have some profits from longer term multiple buys, but that total profits for any individual stock of all 40-50 stocks are gone. A reversal at this point would be consistent with the last two years of structured pricing. There is little more to accomplish if I haven’t sold by now.

      Oct 27, 2023 27:08 PM

      Clarification: over the last year I have been taking profits more often and buying other stocks at reduced prices. However, the # of gains have been declining over time and therefore the amount of discounted swapping has become less. I will have carry over losses from sales starting in January 2023, but hoped for more gains to balance it out for the year. A big turn around rally before end of year would be nice.