Gareth Soloway: Worst Recession in Memory and New Highs for Gold in 2023
Tom welcomes back Gareth Soloway, President, CEO & Chief Market Strategist for In The Money Stocks.
Gareth discusses why Japan moving rates slightly higher has had an outsized effect. This is the first sign of a fundamental change in Japanese policy. The dollar is down in response, which could also be a result of expectations of coming economic weakness.
We’ve had inflation for several years now, and it seems likely that the Fed will be resistant to printing. Eventually, things could get bad enough that they will be forced to print to stimulate growth. He believes a big recession is in the cards and will last longer than most expect. He believes the S&P won’t hit new highs for at least a decade.
Gareth discusses the problems working against the dollar, and why he believes it will be years away before the Fed begins printing again. Other countries are also applying pressure by finding alternative methods of trade. Trillions of dollars are overseas that could be dumped on the market.
Stocks have yet to factor in the possible poor earnings growth next year. Gareth sets out some possible targets for the S&P next year.
Big money is not coming back to crypto until there is transparency in that market. He expects to see 9000 by May or June 2023 in Bitcoin.
He expects gold to outperform in 2023 and there should be upside of about 2300. We’re seeing similar patterns right now to that of the mid-70s.
He believes silver may see a super-spike not unlike seen in the 80s and 2011.
Time Stamp References:
0:00 – Introduction
0:40 – Japan, Rates & Dollar
3:38 – Re-Stimulation?
6:18 – Dollar Chart & Tops
8:06 – Euro/USD/Yen Charts
10:15 – Global? Recession
11:55 – Fed Reaction & Dollar
14:42 – 2023 Equity Outlook
16:46 – Nasdaq Volatility
17:53 – Crypto & FTX
19:39 – Pick for 2023
21:12 – Drivers For Gold
22:41 – A Silver Superspike?
24:30 – ETF & Resources
25:40 – GDX Chart Outlook
27:35 – SLV & SIL ETF
29:10 – Oil Demand & 2023
30:38 – 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.