As my loyal readers and followers know, I have been bullish on gold and silver since 2018.
Oh sure, we have had some ups and downs, but since the March low, every dip has been a buy opportunity. But my bullish stance in the metals was not always met with enthusiasm. Many bears out there thought the dollar would go up, the rates would not impact the bull move in metals and that the possibility of stagflation was a bit absurd given the metrics pointing towards deflation. But we were unmoved, talking on every interview about how gold and silver would rise.
Then, the extraordinary happened. Robinhood traders caught on.
Silver, also mentioned many times, has industrial use besides serving as a hedge against inflation and social unrest. (We are sure seeing a good share of that). What I had not focused on was that one of silver's industrial uses is in the making of solar panels - hello, clean energy! Which, with the recent parabolic move in silver, not only makes me and our members who are long happy, but got me thinking about the Robinhood traders and their attraction to socially conscious investing.
Now, love them or hate them, love or hate SCI, but we are here to follow the path to money. And what better example is there than Tesla (TSLA)? Their earnings report showed improvement both on earnings per share and revenues. This should seal TSLA's fate in joining the S&P 500 - and make the RH traders very happy.
More importantly, even if you did nothing but sit long, as we have in our NASDAQ All-Stars Model since $300, you do have to thank the Robinhood traders for helping TSLA trade to a price of over $1800.
It is in this vein that I put together this 10-minute video for StockCharts TV's Your Daily Five segment. I cover clean energy stocks, including TSLA, Silver (SLV) and a company called TerraForm Power Inc (TERP), a wind and solar company that has cleared a huge level of consolidation going back to 2015.
From there, I review Beyond Meat (BYND) and how to play that stock before and after earnings. Although it has yet to catch the SCI crowd's attention, today's announcement that the company would help fund the social cause of racial inequality just might turn the Robinhood traders' eyes.
Finally, way off the SCI crowd's radar, yet definitely on mine, is cannabis.
I was early with silver and gold. And perhaps I am with cannabis as well. Nevertheless, I cannot let it go as an emerging megatrend and as a SCI, given some medicinal qualities and an opportunity to help the economy.
Here's my Your Daily Five presentation for StockCharts TV:
Here's a link to my interview with China TV and Jackie Pang about Silver: http://share.fengshows.com/article.html?id=1baa6560-cbc1-11ea-bea4-c1299426a8c9&channelID=r06&time=1595421676.285703
Until Friday July 24th, MarketGauge is offering my book Plant Your Money Tree - A Guide to Growing Your Wealth for $.99 on Kindle. Please do not pass this up as the book is worth way more - and if you are reading my Daily, you are sure to love the info I share in the book!
- S&P 500 (SPY): Welcome back SPY! Now on new multi-month highs. 320 support
- Russell 2000 (IWM): 146 support, 150 resistance - consolidating at the 200-DMA.
- Dow (DIA): 270 pivotal
- Nasdaq (QQQ): 262 support
- KRE (Regional Banks): Back to an unconfirmed bearish phase yo-yo. Inside day. 37.70 the 50-DMA
- SMH (Semiconductors): 160 support, 165 resistance
- IYT (Transportation): 172.75 pivotal
- IBB (Biotechnology): Did not confirm the bearish reversal top - why am I not surprised?
- XRT (Retail): As mentioned, seeing money rotation here
- Volatility Index (VXX): Did not confirm a bottom
- Junk Bonds (JNK): Cleared the 50-week MA
- LQD (iShs iBoxx High-Yield Bonds): Another new all-time high
Mish Schneider
MarketGauge.com
Director of Trading Research and Education
