Takeaway
The presenter argues that rising oil prices, driven by geopolitical issues in Iran and supply problems in Canada, are creating turbulence and new opportunities. Having cashed out of positions last week, the speaker is now looking for pullbacks to re-enter longs in Silver, Gold, and related equities like Pan American Silver (PAAS) and Endeavour Silver (EXK).
What the presenter said
- August featured wild but profitable moves that were successfully caught. [00:06]
- At the start of September, rising oil prices linked to problems in Iran and Canada are making market participants nervous. [00:12]
- Crude oil, heating oil, and gasoline are making new summer highs, which is creating turbulence in the markets. [00:18]
- The speaker is looking for pullbacks in precious metals to re-establish long positions after cashing in on everything last week. [00:27]
- Specifically, the plan is to re-enter positions in silver, gold, Pan American Silver (PAAS), and Endeavour Silver (EXK). [00:34]
- The presenter believes it is important to watch oil, global market flows, and month-end activity, particularly new flows from Asia (Japan) and Europe. [00:55]
Trade ideas
Instrument: Silver
- Direction: Long
- Entry/Target/Stop: None stated. The presenter is waiting for a pullback to re-enter.
- Horizon: Short-term
- Conviction: Medium
Instrument: Gold
- Direction: Long
- Entry/Target/Stop: None stated. The presenter is waiting for a pullback to re-enter.
- Horizon: Short-term
- Conviction: Medium
Instrument: Pan American Silver (PAAS)
- Direction: Long
- Entry/Target/Stop: None stated. The presenter is waiting for a pullback to re-enter.
- Horizon: Short-term
- Conviction: Medium
Instrument: Endeavour Silver (EXK)
- Direction: Long
- Entry/Target/Stop: None stated. The presenter is waiting for a pullback to re-enter.
- Horizon: Short-term
- Conviction: Medium
Instrument: Oil
- Direction: Long
- Entry/Target/Stop: None stated. The thesis is to watch market flows for an entry.
- Horizon: Short-term
- Conviction: Low