Palisade Radio, Released on 8/15/20
Time Stamp References:
1:25 – The sell-off and technicals.
4:30 – Buying opportunity.
9:00 – Comparing moves to past trends.
14:10 – Jordans new service.
15:20 – Corrections and price damage.
Jordan discusses the sell-off and his recent call. He says, “When you see these extreme technical levels, and it stays in that range, that’s when things get concerning.” Overall, miners have been quite weak, but he speculates that in the next move higher, they will perform far better. Usually, in these types of sell-offs, most of the damage occurs in the first few days. You can expect some further selling, and it will likely take a month or two for things to settle before they make the next leg higher.
Silver and gold stocks didn’t have much time to price in the higher prices. This correction is nothing to worry about as it will merely weed out some of the excess and new investors in this market.
In the short-term sense, we seem to be following the 2008 rebound. Jordan draws comparisons of today’s bull market to past bull runs. He says, “This is the start of something that will last twenty years.” He feels this leg of the secular bull market has another four years to run. “We have an opportunity over the next couple of years to make money and build more wealth.”
Jordan discusses his new elite service for high net worth investors, including private placements, and one-on-one consulting.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.