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Eric Coffin

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Eric Coffin, born in a mining town and raised in the industry. He has spent decades in the resource business. This gives him a background of real practical experience that no other editor can match.

February 25th, 2020 | Zombie Apocalypse

HRA Advisories - It’s a gold bull market. It was one already, of course, but we’ve got a clean breakout now and a path to much higher prices. Gold still isn’t making the front page, which I’m very happy about. I want to see a nice sustained rally, not something parabolic that goes down in flames. As I […]

February 15th, 2020 | Black Cygnet

HRA Advisories - “May you live in interesting times.” The quote above is, of course, Chinese and is also, of course, intended as a curse, not a blessing. It tells you a lot about China, a country with 5000 years of history. The Chinese have had more than their share of war and disruption. Interesting times don’t necessarily […]

January 19th, 2020 | Gold’s Big Picture

HRA Advisories - No, I’m not writing about Louis IV, though there might be some appropriateness to the analogy, now that I think about it. The quote is famous, even though there’s no agreement on what it was supposed to mean. Most figure Louis was referring to the biblical flood, that all would be chaos once his reign […]

December 28th, 2019 | Santa Kicks Ass

HRA Advisories - As we head toward year end markets in general are enjoying a better than usual “Santa Claus rally” as equity funds buy winners to look smart in year end reporting and retail chases momentum stocks. There is a lot of index chasing going on. The biggest stocks with the greatest past outperformance are attracting the […]

December 2nd, 2019 | Eye of the Beholder

HRA Advisories - Anyone who was paying attention or writing placement cheques in the last month knows that things went from warm to very cold in the resource space over a very short length of time. I talked about how I thought we needed to shake out some speculative longs in the gold market last issue. I’m surprised […]

November 9th, 2019 | Jay’s Got Your Back

HRA Advisories - The chart below sends as clear a signal about the next US Federal Reserve meeting as you’re likely to get. The market is pricing in a 90%+ probability of a rate cut later this week. In theory, the FOMC could surprise everyone by not cutting but the chances of that happening are close to zero. […]

October 27th, 2019 | Conflicting Signals

HRA Advisories - The US Fed meeting went much as I expected, though more hawkish than most of Wall St expected. Even so, markets reacted with reasonable calm to that and several other events in the past couple of weeks. I continue to be impressed by how stable equity markets are, really, given the mayhem in so many […]

September 21st, 2019 | Down the Rabbit Hole

HRA Advisories - Happy September! Traditionally one of the worst months of the year for large cap equity traders and one of the best ones for resource investors. (Just trying to maintain the festive mood here.) I think this year’s September will be true to form though, honestly, this is one of the toughest markets to handicap I’ve […]

August 18th, 2019 | The Adjustment Bureau

HRA Advisories - (Note: I started this editorial a few days ago and have had to edit it and update charts several times along the way. Things are moving fast, and the days of low volatility are over, perhaps for an extended period. That’s great for gold but do not lose sight that we’ve entered a dangerous market […]

HRA Advisories -   If you don’t feel like reading, you can just gaze at the chart below. It gets about 90% of the point across. Ever since US Federal Reserve Chair Jerome Powell reversed the Fed’s hawkish stance in December, markets, especially the bond market, have been pricing in an increasing number of rate cuts through the […]

May 23rd, 2019 | Floatation Device

HRA Advisories - Spring is in the air on Wall St, and traders’ thoughts have turned to unicorns, earnings beating (duh) “expectations” and, of course, romantic overtures from an accommodating US Federal Reserve. Admittedly, Wall St felt a little jilted after the last Fed meeting. FOMC Chair Powell said during the post-meeting presser that the Fed might hold […]

April 25th, 2019 | A Self-Dealing Market

HRA Advisories - While the resource sector has been decidedly ‘meh’ for the past couple of months, going precisely nowhere, you can’t say the same for the Big Board. As the chart below shows, the SPX has been doing just fine. It’s only a couple of percent from its all-time highs. We know most of that can be […]

March 27th, 2019 | Cursed?

HRA Advisories - Hell if I know. If you’re a resource investor, you know what I’m talking about. The infamous “PDAC curse”. It’s the bane of resource investors everywhere, striking fear into their hearts as the ides of March approach. Truth is, its usually a smart money move to assume a pullback heading into late March and again […]

March 8th, 2019 | Bipolar Base Metals

HRA Advisories - There seem to suddenly be a lot of base metal bulls suddenly. It’s not chart based, at least for most base metals. Prices look better than they did a couple of months ago. I wouldn’t call most base metals charts bullish just yet, though I’d say copper is the exception. Some of this is fundamentals, […]

February 15th, 2019 | Wall Street’s B*tch?

HRA Advisories -   Ok, not very nice of me. But, really, I’m not sure what other phrase describes the US Federal Reserve better. It sure as hell fits Wall Street’s own thinking. Make no mistake, traders at Wall and Broad are convinced the Fed is locked in to do their bidding. It’s party on dude! And, let’s […]

January 21st, 2019 | …Chicken, Egg, Chicken…

HRA Advisories - This is the first part of the traditional “how big an idiot can I look like” start of the year editorial. I’ll go into metals and oil in the next issue but, this year, the equity market will be driving the bus so I’ll look at that first, with a bit of gold tacked on. […]

September 6th, 2018 | Autumn Colours

HRA Advisories - Events conspired to give us a small bounce in the gold price. Nothing amazing but at least a move in the right direction. The positive news was, for once, magnified in the junior sector. We just had the best couple of weeks on the Venture exchange we’ve had for a long time, including ten straight […]

August 15th, 2018 | Negativity

HRA Advisories -   It’s fair to say, if you like gold, you probably see yourself as at least partially as a contrarian. Some would say completely contrarian, but I would resist that label. I follow a lot of metals and they respond quite differently to market forces most of the time. I don’t consider myself a “gold […]

HRA Advisories - Things continued to get worse for the gold market through the dog days of July. We’re all playing “how low can it go” now. The only good news in the gold market is that the bearish positioning is now almost as extreme as the bullish positioning in the US Dollar market. We’re overdue for some […]

July 8th, 2018 | Gut Check

HRA Advisories - Ugly, ugly, ugly. Yet more proof that trying to predict the gold market short term is a mug’s game. The metals markets didn’t do us any favours as June wore on but at least we got good news from several HRA list companies to cushion the blow. I’m expecting more good news on several fronts […]

June 19th, 2018 | The Waiting Game

HRA Advisories - Buckle up. We could have a smooth ride over the next few trading sessions, but that seems like an over-optimistic scenario. There are several market moving events that will determine the short and medium term trajectory of the precious metals markets and set the tone for the summer. Based on recent history, we should be […]

April 23rd, 2018 | Are We There Yet?

HRA Advisories -   It increasingly feels like we may soon get the gold price move we’ve been waiting for. I thought we wouldn’t see it until autumn, but I now think we could get a spring rally. That will help all the gold explorers and developers on the HRA list. Several of the latter are already outperforming […]

April 9th, 2018 | The Old Normal

HRA Advisories - Gold got a nice lift off after a widely expected rate hike, but it’s been flat to down as markets have been trading very strangely against each other.  We’ve seen continued high levels of volatility, but those haven’t translated to real risk aversion on the part of equity traders. Add the politics, namely a trade […]

March 10th, 2018 | Tug of War

HRA Advisories - The markets have calmed down a bit but the White House is injecting plenty of political uncertainty.  I’m surprised Wall St is taking things as well as it is.  Seems like traders think tax cuts (excuse the pun) trump everything else.  We’ll see.  The complacency didn’t work out so well a month ago so I […]

February 16th, 2018 | It’s Official

HRA Advisories - Well, THAT was exciting, wasn’t it? No?  OK, things did get a bit hairy there and its too early yet to say that we’re out of the woods.  Traders are still extremely skittish and will be for a while.  We’ve had a couple of green days in a row, but they were not booming up […]
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