Gareth Soloway: Institutions Are Now Buying Gold
Tom welcomes back Gareth Soloway, President, CEO & Chief Market Strategist for InTheMoneyStocks.
Gareth discusses the new all-time high of the S&P and the recent breakdown in the long-term wedge pattern. We need to see a break above this pattern and he would be concerned if we took out a previous low. Institutions are waiting to hear what is decided at Jackson Hole.
The Fed appears to be getting boxed into a corner since inflation isn’t all that transitory. Thus, the Fed will be pressured to act.
Inevitably we are going to see a significant deleveraging period. People are taking advantage of low-interest rates and the potential for profits. A small change by the Fed could create an avalanche of deleveraging.
Gareth discusses the state of equities in China. There may be some great opportunities if you are willing to take on some risk.
Investors should look carefully for value and avoid expensive stocks.
Gareth explains the thesis for long-term gold holding. Investors should consider drops as possible buying opportunities. Within days we recovered from the recent move to the downside.
He expresses some concerns about silver since it broke a recent trend. Long term he loves silver but there is still some potential downside.
Gareth believes the recovery in Bitcoin is unlikely to hold past 52000. 20000 remains likely as we often see large volatile corrections in crypto. If we were to take out the prior high then a bullish case could be made.
His focus is on the charts and trying to avoid emotion. Don’t fall in love with particular stocks or markets.
Time Stamp References:
0:00 – Introduction
0:40 – S&P Thoughts
5:38 – Fed & Jackson Hole
8:47 – Market Predictions
11:28 – Deleveraging & Margin Risk
14:44 – China Equities
16:58 – Viacom Chart
18:37 – Gold Support Levels
21:13 – Companies Buying
22:48 – Silver Predictions
24:25 – Bitcoin Trends?
27:17 – Combating Inflation
28:49 – Staying Objective
30:40 – Wrap Up
Chief Market Strategist Gareth Soloway has been an avid swing and day trader since his days at Binghamton University, where he studied Economics. After college, Gareth quickly excelled as a financial adviser, but his heart was always in swing and day trading. He had this long-standing belief that he could help investors make more money by advising them on shorter-term investments (holding a stock for days to weeks) than the buy and hold crowd who lost 50% of their money during every market collapse. “Why not profit during the bear markets just like the bull markets,” he said. So while helping others gain financial independence during the day, he spent his nights studying charts and price action, developing a unique market trading system that put his profits on a rocket ship. Some nights he would barely sleep when he found a new technique that was proven, once back-tested.
After building his wealth through trading in 2004, he left the financial industry to trade his own money and study charts and technical signals. This was when he met Nicholas Santiago. The two top traders spent days trading stocks/futures together and nights putting their collective brainpower into the pure genius that would become the PPT Methodology.
InTheMoneyStocks was launched in 2007 once the PPT Methodology was perfected. Gareth’s goal was to help average investors beat the best hedge funds and traders on Wall Street by teaching them the methodology and giving them his trades as he took them LIVE!
Since 2007, Chief Market Strategist Gareth Soloway has maintained an over 80% success rate on swing trade alerts (verified 300+ trades per year) given to members in Verified Investing Alerts (formally named the Research Center) and a confirmed 94% success rate on day trades in the Live Day Trading Chat Room. He has given lectures at colleges around the United States, been asked to train hedge fund traders in other countries, and taught thousands of investors how to invest and trade profitably, achieving their dreams of financial independence. He lives life to the fullest and puts his heart and soul into teaching his members who come willing to learn the PPT Methodology.