Takeaway

The speaker argues that the recent Fed-induced pullback in precious metals is a significant buying opportunity for the rest of the year. After being flat since the end of August, the presenter is now aggressively re-entering long positions in precious metals futures and equities, viewing the current dip as a temporary reaction before a strong rebound.

What the presenter said

• The market had a knee-jerk reaction to the Fed's announcement, with the stock market and oil reacting. [00:12]
• The speaker was long every precious metal equity and futures at the beginning of August, got out at the end of August, and has been waiting for this opportunity. [00:05]
• Precious metals (gold, silver, platinum) came lower, going down with the tide. [00:38]
• The speaker believes the precious metals' story will turn and go right back up. [00:44]
• They have started re-entering positions in precious metals over the last couple of days and will now be aggressive. [01:15]
• The speaker is very bullish on precious metals, suggesting the next couple of days may present the best opportunity for the rest of the year. [01:50, 01:57]
• If related equities go lower and then turn, the presenter believes the next move can be "a lot higher" as weak hands will have been shaken out. [01:35]

Trade ideas

• Instrument: Precious Metals (Gold, Silver, Platinum) and related equities (Pan American Silver, Coeur d'Alene, EXK)
• Direction: Long
• Entry: Aggressive entry over the next couple of days.
• Target: "A lot higher" (unspecified)
• Stop: Not stated
• Horizon: Medium-term (for the rest of the year)
• Conviction: High

Levels and data cited

• Oil: Currently around $102, recent high was $105.
• Gold: Currently back down to $4300.
• Silver: Currently back down to $63.
• Pan American Silver (PAAS): Currently $47.56.
• Coeur d'Alene (CDE): Currently $18.98.
• EXK: Currently $9.53.

Risks and what would invalidate this

• The presenter notes that precious metals may extend lower before turning higher.