Erik Wetterling – The Precious Metals Just Pivoted Off A Key Inflection Point And The Hedgeless Horseman Weighs In
Erik Wetterling, Founder and Editor of the Hedgeless Horseman website, joins us to share why he feels we have seen a key inflection point in the precious metals sector, backed up by some technical factors on a chart he has included.
We then get into a very wide ranging discussion about the recent moves seen in the gold exploration stocks, and how he manages his portfolio. While we got into a number of companies examples during the span of the discussion, Erik brought the conversation back to Eskay Mining (ESK) a number of times to illustrate a number of points on how he approaches investing in the juniors.
Next we get into how he blocks out a lot of the noise in macroeconomics, technical analysis, and even sentiment that so many focus on where he is strictly concerned with buying low valuations. We wrap up the conversation with a candid chat that touches on when to keep holding, if he does “Hedgeless Horse trading” to rebalance his portfolio, and even what his exit strategy looks like. (It sounds like he will be holding all the way until The Great Reset)
Click here to visit Erik’s site – The Hedgeless Horseman.
Ira Epstein’s Metals Video (01/20/2022)
.
Technical Analysis, Gold, Silver, Copper, Platinum
.
https://youtu.be/LkmQANSHfzE
George Gammon – Crash the Stock Market or Stop Inflation: The Fed’s Dangerous Predicament
.
Stansberry Research – January 19, 2022
.
https://youtu.be/4Ykh1r1aSFY
SPY is trying to bounce at fork support.
https://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=9&dy=0&id=p90176205800&a=1073050214
odds for spy are we do get to .382 retracement from the 9/21 S.L….that is 418.79 and is near the more recent Tom Demark9 breakout support which also acts as a S. L. albeit hidden…..
We’ve probably seen a very important top in SPY vs honest money:
https://stockcharts.com/h-sc/ui?s=SPY%3AGLD&p=M&yr=11&mn=0&dy=0&id=t3188072834c&a=1084718636&r=1642763596077&cmd=print
It would take a miracle for the stock market to salvage the week versus gold tomorrow.
https://stockcharts.com/h-sc/ui?s=SPY%3AGLD&p=W&yr=6&mn=5&dy=0&id=t6603447340c&a=1015547995&r=1642764056945&cmd=print
yep very telling series of charts well done …thanx much Matthew…..you show your chart based decision process…total respect….larry
It’s too bad that “print” feature at stockcharts doesn’t always work right. Here’s how the weekly SPY:GLD chart just above should look:
https://stockcharts.com/h-sc/ui?s=SPY%3AGLD&p=W&yr=6&mn=5&dy=0&id=p24373619459&a=1015547995
Actually, maybe not. I think it will get whittled down to 5 years for non subscribers.
Freaky Friday again………………. hummm gold…………in slow mo………..
Every miner negative. General markets control.
After recent open hit, down 20% including last Friday.
Just my account. See you next week.
Couldn’t resist: added to Nobel Resources and Millennial Precious Metals. Very hard to get the Ask as the knock down bogus. Spread stayed large and hitting the ask would not get a sale. Even MMs have difficulty with conning the public…those pennies are irresistible.
Added some CGX also. Could be news in near future on drilling success or failure.
+ 2.98% on portfolio. Maybe start of the turn.
Lakedweller2, we have been seeing much different things in our portfolios this week, but you seem to be trending in a different way than most of the PM sector, but that may be due to the makeup of your portfolio changing. Tuesday and Wednesday were good back to to back surging days in the PM sector, with Wednesday being a standout for most investors as the best day they’d had in over a year (my account was up 7.7% on Wednesday as an anecdotal reference, but that was in line with the ETFs GDX and GDXJ being up 7% on Wednesday).
.
Then today, you mentioned being up near 3% on the day, and it was very much a blood bath for most investors more heavily weighted to that PMs that we talked to all day. The moves from late yesterday into today, washed away a great deal of the gains from earlier in the week in most stocks. (Personally I was down 4.6% on the day so it was very fugly indeed. GDX was down about 2% and GDXJ about 3% on the day, so the trend was clearly lower in the gold stocks).
.
Now, some of that may be that you are so heavily correlated now with Emerita (which is more a base metals and commodities story), and then the oil and gas stocks like GASX and CGX, because energy has been ripping higher this week. It points out the value of diversification on days like this. Having said that… I’m in 90 stocks and in Gold, Silver, Uranium, Copper, Platinum/Palladium, Nickel, Zinc, Rare Earths, and am somewhat diversified and only 5 stocks were in the green today and only mildly so. It was a clear red day in the resource stocks overall.
It was a strange day. I was down about 4-5% at open and threw in the towel. Came back as much 4% up and dropped back to just less than 3% as the day traders pulled out. Large dollar swing but mostly Emerita come back as it was hit 5 straight days and this mornings open. It did have an up day on Monday in Canada but that was wiped out on the US open. Both Emerita and CGX expecting news but the CEO of emo confirmed they are working on one. Emerita made the turn around and of course it ran contrary to the miners most of 2021 until November. Then in a suck pattern. Suck pattern consistent with appearance of shorts.
Morris Hubbart says NEM is going to 85 and then much higher. On Tues I bought more IRVRF@.90 and FFOXF@.25. We’re off to see the Wizard!
Hi,
Any comments , discussion on NOVO
Crescat Gets Activist on Gold & Silver #61 Dr. Quinton Hennigh starts ~ 31:00 Updates: $ESK 32:50, $NFG 42:52, $LAB 47:36, $AU 48:51, $FFOX 51:28, $NVO 54:06, $WAM 56:29, $NUG 1:00:44, $ELO 1:03:47, $BCU 1:07:48, $ALEX 1:09:09, $RPX 1:11:25, $MEK 1:13:05, Incipient Discoveries: ( $ETU $PEX $BCM $SGD $TECT $TBR ) :
.
Not a holder by the way, and have not owned before, just been browsing the chat rooms , out of curiosity,
Shad sounds really enthusiastic speaking with the HH ,
very upbeat, and cheerful, still i guess we are such a minority of capable, able people, this is all there is
Thanks for that feedback Sayed. Much appreciated.
.
Yes, I’m generally an upbeat & cheerful person, and Erik & I have been friends since 2016, so we have fun doing these interviews and hashing out different possible scenarios.
.
Overall, despite the more negative sector sentiment in the PMs and resource stocks, I’m still fairly constructive on a medium to longer term basis, and believe we’ll see things trend up during 2022 and 2023. Cheers!
Sayed: Shad was one of the first people who gave me tips on miners when I first started out. Always cheerful and always happy to help… My guess is that it is because he is so good at what he does so he has no reason to be a negative nelly hehe.
The best part for us few bulls left is that the worse it gets, the closer we are to good times again, and I like the idea of “the best is still ahead”. I probably can’t say the same for many markets/sectors if they are at nosebleed valuations and have been ramping for a decade!
+ 100 out of 10.
Thanks buddy. We’ve had some good chats over the years and I agree with your comment that “the worse it gets, the closer we are to good times again, ” and I also like the idea of “the best is still ahead”.
.
Ever Upward!
Hey, you said you are fully invested and sill buy more stocks. How does that work?
Fully Invested: to buy something, you sell something when fully invested.
If I understood correctly, I believe Erik was saying as he gets more funds and dry powder in hand, that he’d continue buying more if the miners pulled back even further.
Reflecting on a Great Day and Thoughts on ESK, NFG, LAB & GOG – Jan 19, 2022 #Gold #Silver
.
The Hedgeless Horseman – Erik Wetterling – Jan 19, 2022 #VIDEO
.
> Timestamps
.
0:00 Thoughts on miners
12:59 Eskay Mining
27:08 Labrador Gold
33:08 New Found Gold
40:43 Golden Tag
.
https://youtu.be/QTmfSRjH4pY