KE Report Appearance: Robert Sinn –Technical / Fundamental Setup In Gold, Silver, & Precious Metals Stocks Heading Into Q3
I had the pleasure of speaking with Shad Marquitz of the KE Report about the technical setup in gold, and why the gold miners could be poised to surprise to the upside when they report Q2 earnings.
From the KE Report:
“Robert Sinn, (aka Goldfinger on CEO.ca and CeoTechnician on X) and publisher of Goldfinger Capital on YouTube and Substack, joins me for another wide-ranging discussion on his technical analysis outlook, fundamental factors that matter, and portfolio management strategies in this current setup in gold, silver, and precious metals stocks heading into Q3.
We start off reviewing the bearish technical action on the charts from the Q1 peaks in January and February to the support breaking to lower prices in Q2 through the end of June.
• Q2 had a very ugly bullish engulfing quarterly candle, which he just wrote about on Substack, but he also cautioned people that it doesn’t mean things are just going to go straight down from here.
• Robert points out that selling compounded and Q2 closed up at max pessimism in the sector, and he noted that this is the type of environment where selling can become exhausted and where directional turns can happen.
• Additionally, we noted the extreme low readings in sector sentiment, extreme low bullish breadth readings, and the weak seasonality factor, where the summer doldrums seemed to come early this year.
• He highlights that turning over the calendar month & quarter can bring in different positioning from institutions, and that in seasonality terms, coming out of US Independence Day long weekends can often set up a more constructive stretch in the PM complex for the next few months.
Next we addressed the fat margins that producers still had in Q2 and heading into Q3, despite the corrective moves in the metals and higher energy costs for the quarter, and potentially compressing margins some from where they were in Q1. We also outlined the constructive situation with regards to so many gold and silver explorers and developers being more cashed up than they have in years, doing some of their largest work programs in years. We are going to have flood of positive sector news over the next few months that could be the catalysts to bring more buying and interest into the junior PM equities.
Wrapping up we discussed a few portfolio management strategies, where pullbacks in quality companies can be good accumulation points. Robert reiterated that investors should take inventory of what they own and why they own those stocks; shedding situations that are continually not working out, and focusing on their highest conviction stories that they have the best understanding of as their heaviest weightings.”
Disclosure: Author owns shares of Andina Copper and Endurance Gold at the time of this interview. Author may choose to buy or sell at any time without notice.
DISCLAIMER: The work included in this video is based on current events, technical charts, company news releases, corporate presentations and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. This video is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SedarPlus.ca for important risk disclosures. It’s your money and your responsibility.