Tom Bodrovics of Palisades Gold Radio welcomes Chris, founder of Technical Traders, back to the show. today, Chris provides an overview of the equity markets and warns of a possible multi-month consolidation period. A lot of profit-taking is occurring, and some of those profits appear to be rotating into utilities and energy along with key economic growth companies. The media often pushes the public into a given sector near the end of a bull run. This often results in losses for the small guys as they enter at the worst time. Much of the news cycle seems to drive stocks to pop and drop.
Chris is bullish on silver, and the considerable public accumulation of physical should send the price of silver much higher. However, he has concerns about a potential pullback. Any such pullback would be an excellent entry point for investors. Silver as a commodity acts differently from stocks, and Chris believes that we could experience a short squeeze in the coming months. If we see a good move higher, that would probably be an excellent time to reduce one’s physical position and buy back later. He outlines some specific price targets and timeframes for silver.
Platinum has had an impressive bull run since March 2020, and he argues that a pullback and sideways consolidation period would be healthy for the market. Chris believes there is always a chance for a broad market correction and notes that when people panic, markets move fast. He’s not betting on anything, but he recommends protective stops because there is no point in riding the market to the bottom.
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