Gareth Soloway: Silver is Building Energy for Next Explosive Move Up
Tom welcomes back Gareth Soloway, President, CEO & Chief Market Strategist for InTheMoneyStocks.
As a trader, you don’t want to let panic and fear take over. The drop on Friday around the new variant was a market sell-off. The buy the dippers came back on Monday and we’ve seen a good bounce back. There could be risks to the market should the Fed suddenly decide to taper or the government chooses to introduce new tax regulations. When everyone is on one side of the market it tends to reverse.
The markets don’t seem to believe the Fed has a backbone. Every time something has occurred in the markets over the last twenty years the Fed has intervened. However, this means people aren’t making decisions based on fundamentals or technicals. They are just buying because markets always go up.
The S&P and Nasdaq have been channel bound for some time. He would be concerned about the markets should we break through the lower bound in these channels.
The silver chart is showing a lot of consolidation and chop. It’s likely building energy for the next measured move up. He cautions that it’s difficult to judge how long we can remain in this pattern.
Gareth is concerned about the volatility in crypto. There is a lot of leverage available to crypto investors. A small flush of the market can cause a massive decline due to overleverage. Gareth notes that some of the alt-coins seem to be entering a crypto-winter. Crypto has failed to hold a sustained move higher in recent months. We need to see a breakout that holds otherwise crypto could see a further pullback.
He discusses the consolidation pattern in uranium and URNM. Again we should eventually see a breakout in this market.
Gareth discusses his strategies for avoiding human emotion in trades. Charts are emotion-driven and crypto is no different.
Lastly, he gives some contrarian plays for stocks and miners.
Time Stamp References:
0:00 – Introduction
0:42 – Recent Market Activity
1:40 – Markets & Risks
3:00 – Fed & Equities
7:00 – Interest Rates
8:45 – Charts – SPY/Nasdaq
12:40 – Rates, Gold, & Concerns
15:14 – GLD Chart
15:49 – Longer-Term Approaches
18:38 – SLV Chart
20:21 – Crypto Leverage & Regs
25:20 – Bitcoin Chart
27:45 – Bitcoin Supply & Long-Term
29:46 – Uranium & UNRM Chart
31:48 – Oil & Excess Leverage
34:27 – Trade Ideas & Miners
36:40 – Contrarian Plays
41:08 – Emotion in Trades
42:52 – 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.