A “Silver” Lining For Silver & Stocks
Over the past week or so, I have warned of a few things. The first was a repeated warning about silver having a parabolic advance and that they never end by going sideways. Rather, they collapse. When people call me to advise on doing something that everyone else is doing, I take note, do my homework and look to go opposite.
I don’t think anyone will argue that the chart below is a crash. And it’s not over. Silver needs at least another day lower before traders can even contemplate a bounce. An awful lot of dumb money is trapped with borrowed money at higher prices. Good luck to them. Been there. It ain’t fun.
The other theme I have had was that stocks were consolidating and the next move was to fresh, all-time highs. I wrote specifically about the Russell 2000 and NASDAQ 100 being at spots I wanted to add along with high beta and momentum. I bought on Thursday and Friday. If the anticipated down opening persists, you know what I will do as well.
On Friday we bought SSO, PCY , more UWM, more RMQHX, and more TQQQ. We sold some NJNK.
