Chris sits down with Craig Hemke of Sprott Money to talk about their PM forecast and break down all the charts you need to navigate the coming bear market. Bear markets don’t happen very often and because of this (and due to lazy habits during bull markets) are very dangerous if you are over 40 for what it can do to your retirement accounts. As we never know how long it will last, the best place to be during times like this is in cash. It’s all about preserving your capital.
If a bear market is imminent and everything is falling, do you actually want to own anything? If bonds aren’t safe; if the stock market isn’t safe; if equities aren’t safe; why hold any of them? There are times when sitting in cash, especially the ‘safe-haven’ US dollar, is the best option. It’s a passive play for sure, but if you want to live to trade another day, it can be the choice to go with.
Based on a daily chart, silver, gold, and miners were on a tear earlier in the year. Though they can be very good defensive plays, they can reverse and sell down for weeks on end. Recent volatility, in general, has so many people dancing in the markets, trading back and forth, that it’s day trader’s heaven and swing trader’s nightmare. This is why position management is so important.
Overall, we are coming into a unique time. Though not confirmed yet, I believe that a bear market is only days or weeks away. Preparing for this is about managing your plays and cutting your losses. The first goal – avoid a bear market (aka protect your capital). The second goal – grow your wealth (aka retire sooner).
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Disclaimer: None of this material is meant to be construed as investment advice. It is for education and entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.