I’ve written several times since August of 2024 to be cautious with stocks, so where are we now and where are we going next with stocks and precious metals? Remember, I try to time my articles at turning points or areas of opportunity when I see them.
Below are some of my past warnings on the stock market.
8/8/24 Weighing a Silver Investment Versus Stocks
Stocks are still concluding a bull market run that has lasted with very few hiccups about 13 years. During this time volatility has been dead. It leads one to think that stocks always go up. There are times however, and Monday was not one of those times, where there should be consideration given to selling their stocks and moving to cash or better yet, because the dollar is in deep trouble here soon, gold and silver.
Gold was $2,389.42 per ounce on Aug 8th and silver $26.84. Today, even with today’s decent pullback, gold is $3127.10 and silver $32.27. Nasdaq was 16,660.02 and today is 16,631. We did move up to 20,204 in the Nasdaq and if you cost averages out of stocks into gold and silver you would have fared well. Same is true for the DOW and S&P 500.
8/20/24 Will a Stock Market Crash Drag Silver and Gold Down?
What happens every time Powell speaks? The markets move higher. I’ve seen it over and over again. The markets wait for anything out of Powell’s words that it can find a bullish tint to and move higher. So expect a move higher for the markets no matter what small noise comes out of the non-farm payrolls data revision tomorrow. In fact, the market will look at bad news and make it seem like that’s a reason for the Fed to lower rates and thus spur the economy. In other words, bullish. Funny how you add a t to that word bullish and rearrange the letters and you get the word bullshit. That’s how I feel about the strength of this stock market.
9/17/24 Dave Portnoy Says Stocks Always Go Up – Day Trader vs Investor vs Market Timer
Most are not prepared for any downturn in the markets, just like they weren’t prepared for the last major crash that had financial advisors scrambling for answers. This is because most financial advisors just say buy and hold. Not only that, but a certain generation is convinced stocks only go up.
You’ll recall from that article that Portnoy was heavily into Spirit Airlines, rode it to nice profit, didn’t lock that profit in, and then rode it back down to break even and below, bounced again and could have got out with profit and then eventually Spirit Airlines went bankrupt and he lost everything. At the time, every Monday he would have a video on Rumble from him called Davey Day Trader. Portnoy posted a reply to me (mywayfrank) September of 2024 that stocks always go up. My point of asking him a question through his Rumble video at that time was that he should prepare listeners how to prepare for down markets. Something that Portnoy couldn’t fathom at the time. He wanted nothing to do with me. I haven’t gone back to rub it in yet but he has been wrong quite a bit on stocks with his buy and hold strategy claiming stocks always go up. He is no longer on Rumble but has moved his podcast Davey Day Trader to X. He changed the background of his podcast from “Stocks Always Go Up” to “Don’t Give Up the Ship.” I listened to his last podcast from 3/25/25 and he said, “stock market getting smoked” and “good time to buy.” He mentioned he owns a crypto called Jailstool which is his own crypto currency and he had 6 million worth of it and now worth $200,000 and said he’s not selling. It’s down 94.03% the last year. Portnoy is a good business developer but a terrible investor of his wealth. There’s no reason he can’t play both sides of the market. Portnoy’s last comment from his 3/25 podcast was “stock market is down, buy everything.”
1/17/24 What Will 4 More Years of a Trump Administration Usher in for Crypto Currencies and Gold?
The stock market will eventually get hit as well and sooner than later. If you have a 401k, it’s a good idea to put it in the fixed account, that hopefully can keep pace with inflation, rather than take the risk of a multi-year downturn.
President Trump is having a tough first 100 days in office with the stock market falling. You’ll read in a moment that we should get a bounce here soon enough, but there are many cracks in the wall that is holding this humpty dumpty market at these levels. Eventually that wall will crack.
Bitcoin has lost 20% since that article as well. Gold as you know has done nothing but move higher. Silver will eventually outpace gold.
So What Is Next for Stocks and Gold and Silver?
After today’s stock market drubbing we will see an eventual rise in the market here soon enough. If you didn’t get out before, then this push back higher will be a second and last chance opportunity before we start a real journey south in the markets. Trump administration with the help of Musk or not, nothing has changed my perspective on what’s to come. Sometime later this year, maybe the fall, we will see the markets peak again and begin a potential 3 year drawdown to 2028 and see gold and silver soar. It will be the end game. Over the next two weeks look for the market to start moving back up and maybe you can catch a trade or two long. Gold and silver will struggle for a bit moving up and down and is a buy anytime from now till the fall. From there you will be chasing prices and premiums higher. I still recommend cost averaging into metals.
As of this writing, S&P 500 futures are 5479 down 227, Nasdaq futures are 18838 down 913 and Dow futures are 41062, down 1425.
Silver having a nice dip today down 2.56 and gold down 32 as I type. Buy the dip and keep hoarding. 2028 target sell!
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
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