David Morgan: The Silver Chart Tells Me That Silver Will Push Much Higher
David remains convinced that we remain in a bull market for precious metals that began back in 2015. Gold remains well above its breakout level of $1350, but silver is struggling below $17. In addition, there is further resistance to overcome between $19 and $21.
David cautions that the junior space can be quite risky, and there are low odds that any given stock will become a mine. He does vet juniors from time to time and occasionally will put one on his watch list if he thinks there is potential.
His report focuses on top-tier, mid-tier, and speculative situations. With the specs, he recommends taking half your money off the table if it doubles and let the rest ride.
He discusses the lessons he has learned during his career and why he should have focused more on mid-tier and high-tier mining companies over the juniors. He says, “There is a lot to be said about having a strong foundation in your portfolio.” Patience is crucial, and investors need to avoid being overly aggressive. Always keep some cash-on-hand and wait for the market.
David likes Harry Brown as a mentor and author. The biggest influencer on David’s thinking came from William O’Neil, who taught that there is less risk in buying early into new highs than buying at what you think might be a bottom.
He likes palladium but feels that it might be reaching a top. Catalytic converters today are mostly designed around palladium, although platinum can also be used. He notes that the physical market for these metals is quite small and that platinum is currently undervalued.
Talking Points From This Week’s Episode
• The bull market in Gold and Silver continues.
• Lessons learned within the markets.
• The demand outlook for palladium and platinum.
David is a precious metals aficionado with degrees in finance and engineering, he originated The Morgan Report, a monthly report that covers economic news, the global economy, and to make substantial capital gains by investing in the Resource Sector. The Model Portfolio includes top-tier, mid-tier, speculative, and special situations.
David considers himself a big-picture macroeconomist whose main job is education — educating people about honest money and the benefits of a sound financial system.
A dynamic, much-in-demand speaker all over the globe, he has appeared on CNBC, Fox Business, and BNN in Canada. He has interviewed- The Wall Street Journal, Futures Magazine, Investing Rules, and numerous other publications.
As publisher of The Morgan Report, he has appeared on CNBC, Fox Business, and BNN in Canada. He has been interviewed by The Wall Street Journal, Futures Magazine, The Gold Report, and numerous other publications.
You can find out more about David and the Morgan Report here.