Robert Sinn – Tax-Loss Selling Silly Season Has Come Early For Many Precious Metals Stocks

Robert Sinn, (aka Goldfinger on CEO.ca and CeoTechnican on X) and publisher of Goldfinger Capital on YouTube and Substack, joins me for another wide-ranging discussion regarding his technical outlook on the precious metals, if the fundamental factors will matter for PM producers heading into Q3 earnings season, and his portfolio management strategies heading into year-end tax loss selling season. We start off reviewing the technical action on the price charts, with gold and silver back down testing key support levels once again. Robert points out that selling pressure has increased as we’ve entered the last week of October, bringing back into focus the $3,980 support level in gold, and the ~$54 level in silver. If these nearby support levels do break to the downside, then there are couple different pathways forward: There could be “false breakdown” that briefly undercuts support, gets most traders bearish, but then that becomes the fuel that brings in more buyers. There could be a bearish continuation move to even lower levels, washing out the sector sentiment even more than where it already is; until the selling becomes exhausted and then the sector puts in a “major low” to begin the next leg of the bull market. Next, we noted the fat margins that producers should demonstrate as we continue to head into Q3 earnings season over the next few weeks. Despite the corrective moves in the metals and higher energy costs for the quarter, the company fundamentals should be mostly robust at current prices and margins. We question whether this constructive news will even matter in light of the backdrop of falling directional pricing in the underlying metals. We have been witnessing depressed sector sentiment, apathetic volume and investor participation in the junior PM stocks and copper stocks, and low company valuations detached from fundamental catalysts. It appears that tax-loss selling silly season is gearing up again here in late October, as we prepare to head into November where selling pressure is often the most extreme. Robert reminds listeners of the reasons behind this seasonal market pattern. It has been a statistically favorable trade, for many years, to buy into the depressed resource company valuations heading into November tax-loss season, and then hold them into the Q1 Run into January/February, lightening up on positions into any outsized rallies. Robert unpacks why he is animated by the risk/reward setups in a couple junior exploration companies, specifically outlining their upcoming catalysts and newsflow on tap: Kingfisher Metals Corp. (TSXV: KFR) (OTCQX: KGFMF) (FSE: 9700) Metal Energy Corp. (TSXV: MERG) (OTCQB: MEEEF) Wrapping up he discussed a few portfolio management strategies, where having cash reserves in place to be able to capitalize on any substantial pullbacks in quality companies in this seasonal weakness can make for good accumulation points. Robert reiterated that investors should take inventory of what they own and why they own those stocks; focusing on their highest conviction stories. Follow Robert’s analysis on Substack . https://ceo.ca/@goldfinger . Click here to follow Robert on X/Twitter . https://www.youtube.com/@GoldfingerCapital/videos For more market commentary & interview summaries, subscribe to our Substack reports: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.