Ned Schmidt joined us today. Rates are going higher, but so are gold and silver, the metals as well as the stocks. Generally rising rates are bad for stocks, and Ned doesn’t think it will be for them this time. Ned doesn’t see a large amount of overhead supply coming in the market to keep prices down. The supply just isn’t there according to the COT (commitment of traders report). Therefore, what appears to be overhead resistance isn’t really strong resistance. Silver has been giving hints of higher prices all along. Someone major is long silver. It’s leading gold. They’re using it to hedge their stock portfolios. 18.25-18.50 intra is showing where the trend is heading. There’s nothing that Trump can do to keep the market going higher forever, contrary popular opinion.
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