0:00?EUR< - Intro0:45?EUR< - US Dollar - DXY Chart3:03?EUR< - Silver Chart4:51?EUR< - Planning Your Trades6:02?EUR< - Cameco Chart8:25?EUR< - SILJ and 200 DMA10:48?EUR< - Silver Supply Issues12:09?EUR< - Gold To Silver Ratio15:12?EUR< - SILJ vs. GDXJ16:10?EUR< - Manipulation20:26?EUR< - First Majestic Chart21:43?EUR< - Golds 10 Year Chart24:49?EUR< - Platinum26:33?EUR< - Uranium Thoughts31:11?EUR< - Wrap Up
Tom welcomes back Steve Penny. Steve is a full-time trader specializing in silver, gold, and uranium.
Steve feels the US dollar remains in the classic definition of a downtrend, and the current pattern is similar to a previous failed breakout. Both the fundamentals and technicals appear bearish over the intermediate to long term.
Silver remains in an uptrend, and we have been bouncing upwards off the 50-day moving average. Once we overcome resistance, we will be off to the races in silver.
Steve likes to trade a small percentage of his portfolio, and how he plans his trades weekly. This approach allows him to reduce emotion and helps make him a better trader.
The Gold-Silver Ratio reaching 120 was an unprecedented event, and he believes we could see 20 to 1 or higher near the end of this bull market. Silver miners are still undervalued compared to everything else, and over the long term, he expects them to outperform wildly.
He discusses the long-term patterns for gold, and even if we have a pullback, we are still solidly in a bull trend.
He is very bullish on platinum because its valuations recently reach historic levels relative to gold. It's quite likely we will outperform to the upside and perhaps even over correct.
Lastly, Steve discusses why uranium is a growth industry and why the price must rise to incentivize new production. It's such a small market that large investment firms entering will have an outsized effect on uranium shares.
Middelkoop predicted the credit crisis's onset in his book "Als de dollar valt" (If the dollar falls) in 2007. Subsequent publications were "De permanente oliecrisis" (The permanent oil crisis) - 2008, "Overleef de kredietcrisis" (Surviving the credit crisis) - 2009, "Goud en het geheim van geld" (Gold and the secret of money) - 2012, and The Big Reset - 2013. In total, he sold more than 100,000 copies of his books.