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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.

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 […]

February 3rd, 2018 | The Fear/No Fear Market

HRA Advisories - So far, so good.   That may not be your immediate take away as you read the rest of the first page but I’m fairly content with how the first month of the year is unfolding. Yes, I think we may be in for an immanent correction on the major equity markets.  But I think that […]

HRA Advisories - Thanks again to those of you who came out to MIF on November 10th and 11th.   We had a full house again and a great group of speakers and presenters.  The newsletter writer presentations have been uploaded to the Beneath the Surface channel on YouTube (https://www.youtube.com/user/BeneathTheSurfaceBTS) and the corporate presentation will soon follow for those […]

October 31st, 2017 | More Trick Than Treat

HRA Advisories - Gold continued to struggle this month.  Sentiment in the gold space has been poor too.  I think the main culprit is the complete lack of risk aversion.  I’ve seen plenty of commentary lately about the USD doing damage to the gold price but that doesn’t seem like much of an argument when you look at […]

October 12th, 2017 | The Fed Strikes Back

HRA Advisories - Well that sucked.   After a move to $1380 gold quickly turned tail and gave up its gains. That took some of the speculative shine off the market.  One piece of good news is that gold equities are still trading (slightly) better than bullion which is generally a positive sign even when gold’s behaving poorly. Northern […]

September 12th, 2017 | Breakout

HRA Advisories - After a few false starts, gold has finally broken through $1300 convincingly, and looks comfortable at its current perch at $1340.  It would be easy to blame it all on politics but, as I noted in the last issue, I don’t think that’s the case.  It’s an overdue move and the initial move through $1300 […]

August 22nd, 2017 | Not Just Politics

HRA Advisories - The USD got its bounce thanks to the payroll report but it wasn’t a strong one and is dissipating already. Surprising the bounce wasn’t larger given the huge short position. North Korea turned out to be a whipsaw. The gold price was lifted, then knocked back, as the tension mounted then receded. Gold has other […]

August 5th, 2017 | Reporting Season

HRA Advisories - The trend to a weaker US Dollar and strengthening gold, and base metal, prices continues.  As I note in the main editorial, there are 2-3 data points dead ahead that should determine whether the oversold greenback gets a bounce.  I say “should” because the clown show in Washington keeps getting in the way of economic […]

July 28th, 2017 | It’s Complicated

HRA Advisories - Things changed a lot in the past two weeks. The US Fed’s promises to keep tightening financial conditions look a lot shakier than they did at the start of the month, thanks to a series of weak economic readings in the US. I still think we need to be wary of central bankers but with […]

HRA Advisories - I really hate sounding like the “boy who cried wolf” when it comes to major markets.  Nonetheless, I’m shocked at how little impact central bankers have had as they all started talking, planning or threatening tightening.  Traders on Wall St in particular seem completely unconcerned by these comments. Clearly, traders don’t believe central bank words […]

June 15th, 2017 | Is GDXJ “A Thing”?

HRA Advisories - You can sense the frustration when you talk to anyone trading gold producers or large developers.  Gold has staged something of a comeback and there are good reasons to think that should continue.  You’d never know it to look at the main gold stock indices though.  They are lagging badly. The editorial in this issue […]

May 4th, 2017 | Just Go With It

HRA Advisories - Trump hasn’t started a war. Yet. Other market worries like the French election also turned out to be overblown—so far at least. We’ve seen some zigs and zags in the past two weeks as the market bought into, then dismissed, then bought into the reflation trade.  I remain cautious for both political and economic reasons […]
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