The stock market took a hit Monday as AMC blew up and crashed almost 39%. Meme stocks are in collapse and now the stock market rally appears to be exhausted. All the market averages did is is rally back up into their 200-day moving averages, which act as long-term resistance points in a bear market. It’s time to be cautious in a market like this.
In the first quarter, though, when the market dumped, gold and mining stocks went up. They then surged after the war in Ukraine began for eight weeks and have been fading ever since. When will the excitement in them return?
In this video I talk about what it will take to get me bullish on the gold and silver price and the mining stocks.
I mention the Two Fold Formula trading pattern that is my favorite at the end of this video. You can find it my previous video on it here:
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Who am I?
Michael Swanson is the founder and head editor of WallStreetWindow.com. He ran a hedge fund from 2003 to 2006 that generated a return of over 78% for its investors during that time frame and in one year was ranked in the top thirty-five hedge funds among several thousand tracked by hedgefund.net. He received a Masters Degree in history from the University of Virginia in 1998 and since retiring from the hedge fund world writes about global investment trends, the financial markets, and American history.
2 Comments
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Aftermath silver was one of your tips following this formula check out the chart