# Bullish Setup for Junior Gold Miners: Accumulate on Pullbacks explains Pro Investor David Erfle

Page: https://stenobird.com/podcast/mining-stock-education-633206/bullish-setup-for-junior-gold-miners-accumulate-on-pullbacks-explains-pro-investor-david-erfle
Text version: https://stenobird.com/podcast/mining-stock-education-633206/bullish-setup-for-junior-gold-miners-accumulate-on-pullbacks-explains-pro-investor-david-erfle.md
Podcast: [Mining Stock Education](https://stenobird.com/podcast/mining-stock-education-633206)
Published: 2026-04-28T11:24:03+00:00
Episode link: https://soundcloud.com/miningstockeducation/bullish-setup-for-junior-gold
Audio file: https://feeds.soundcloud.com/stream/2310685481-miningstockeducation-bullish-setup-for-junior-gold.mp3
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Duration seconds: 1655

## Resource

Pro investor David Erfle provides commentary about gold, silver, and junior miners after a sharp correction. Erfle says the current “boring” 2–3-month consolidation is bullish base-building after roughly 200% moves in GDX/GDXJ, noting relative strength in the TSX Venture and miners versus silver, and COMEX open interest at 20-year lows as gold rises without heavy speculator leverage. He highlights strong central-bank physical buying and dollar diversification (including China’s continued purchases). Erfle discusses his approach of accumulating and trimming positions, his 23-stock junior portfolio and watchlist, a preference for earlier-stage sub-$150M market-cap names, due-diligence red flags for late-stage developers, and why Newmont’s strong earnings and free cash flow are positive for the sector, while also addressing insider selling and subscriber concerns. 00:00 Intro 00:26 Gold Silver Pullback 00:59 Bullish Consolidation Signs 03:33 Comex & Central Banks 06:26 Accumulate Juniors 08:15 Trim Profits Strategy 10:36 Developer Due Diligence 11:31 Early-Stage Focus 13:00 Newmont Earnings Impact 16:42 Insider Selling Signals 18:04 Subscriber Questions 22:09 Disciplined Seling David’s website: https://juniorminerjunky.com/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon f…

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