Jordan Roy-Byrne: Corrections and Consolidation are Excellent Opportunities to Create Great Wealth
Collin welcomes Jordan Roy-Byrne back to the program. Jordan is a regular contributor to Palisade Radio and is the editor and publisher of TheDailyGold.com.
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.
Time Stamp References:
Talking Points From This Episode:
• The sell-off and the big picture.
• Key support levels for GDX & GDXJ.
• Expect sideways movement for a couple of months.
• See this move as an opportunity.
Jordan Roy-Byrne, CMT, MFTA is the editor and publisher of TheDailyGold.com and TheDailyGold Premium, a premium publication that emphasizes market timing and stock selection for precious metals investors. He is a Chartered Market Technician and Master of Financial Technical Analysis. His Masters Thesis, which earned him the MFTA designation, was published in the International Federation of Technical Analysis Journal. Currently, no other technical analyst covering precious metals possesses the MFTA designation.
Jordan earned a degree in General Studies from the University of Washington with a concentration in Internal Economic Development. He is also the author of several books, including “The Coming New Bull Market in Gold,” which is available for free on his website.