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 - Introduction0:42 - Recent Market Activity1:40 - Markets & Risks3:00 - Fed & Equities7:00 - Interest Rates8:45 - Charts - SPY/Nasdaq12:40 - Rates, Gold, & Concerns15:14 - GLD Chart15:49 - Longer-Term Approaches18:38 - SLV Chart20:21 - Crypto Leverage & Regs25:20 - Bitcoin Chart27:45 - Bitcoin Supply & Long-Term29:46 - Uranium & UNRM Chart31:48 - Oil & Excess Leverage34:27 - Trade Ideas & Miners36:40 - Contrarian Plays41:08 - Emotion in Trades42:52 - Wrap Up

Guest Links:Twitter: https://twitter.com/GarethSolowayWebsite: https://inthemoneystocks.com/Website: https://verifiedinvestingcrypto.comBlog: https://inthemoneystocks.com/author/gareth/LinkedIn: https://www.linkedin.com/in/gareth-soloway-60827953/

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.