Today has a high probability of being a bottom. GDP numbers come out at 8:30am and should reflect the strongest quarter of growth in the history of our country. Buyers are scarce into the election with small investors panicking out and large banks buying their shares. We expect a large rally November 4th into November 9-11 in all major indexes. Russell and NDX should lead, most likely on stimulus and an election relief rally. Today was all about small investors watching mainstream news, which does nothing but sensationalize the Covid apocalypse. After the election, we will likely hear about how the treatments have begun to work and few people are actually dying.
Expect a strong bounce in gold and silver. Metals should enjoy a rally with stocks into our mid-November dates.
$35-$36.50 is extreme support for GDX. Do not expect a waterfall decline. All roads lead to metals regardless of the election outcome. The dollar is headed much lower and nothing can stop that.
We are in a long term silver trade and do not update it daily. This does not mean we are not confident in it. The capital for this trade we were clear should be funds you did not need for a period of months until the trade reached fruition. We will sell on the next intermediate cycle advance which should roll into Q1 2021. Silver will rally 25% in 5-7 trading days. It is a heavily manipulated metal, so holding a core position is important. The rally can explode at anytime with all of the naked shorting and price suppression that constantly takes place. We witnessed in late July a massive move in a matter of 5 trading days. If you are not positioned and the rally begins with a $2 up-day, most investors wait thinking it will pullback but it never does. We are near extreme support for silver if members want increased exposure. Our thinking is a bounce tomorrow and possible down days Friday and Monday for a bottom. After that, silver should climb with stocks into mid-November. $24 is possible and $27-28 by early December
Virgin is due for a technical bounce and is capable of firing right back up over $20 into the November launch cycle. The next successful launch should usher in more upgrades and price acceleration into January when flights are scheduled to start. You will know when a stock like this is about to get upgraded. We will see heavy volume on no news and price will climb a day or two prior mysteriously.
Sometime between Thursday -Monday should produce a 1-2 week price peak.
With major cities imposing partial lockdowns and limiting restaurant seating, all hospitality stocks got hit today. DENN has a large number of its locations in heavily Covid-affected states, which is a reason major analysts are hesitant to issue an upgrade. It is a true value stock and just a matter of time before it gets recognition. When we analyze risk in Denny’s we see the following: They are staying in business, make a nice profit, and have already raised cash and diluted to deal with Covid-related expenses. Hard to sell a stock like that. For the patient investor, it remains a buy.
–
The Forecast
IMPORTANT FINANCIAL DISCLOSURES
PLEASE SEE FULL DISCLOSURES
THE FORECAST DOES NOT PROVIDE OR OFFER ANY INDIVIDUALIZED, CUSTOMIZED OR PERSONAL INVESTMENT ADVICE TO ANY INDIVIDUALS OR ENTITIES. AT ALL TIMES, YOU BEAR FULL RESPONSIBILITY FOR YOUR FINANCIAL, INVESTMENT AND TRADING DECISIONS. YOU SHOULD SEEK THE ADVICE OF A QUALIFIED INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION.
Important Disclaimers Regarding Our Services and the Information we Provide:
The Forecast offers information, research, educational content, articles, alerts, bulletins, newsletter items and other conveyances of information that constitute the Services. The Forecast is a publication that is available to the general public via subscriptions. The Forecast provides market commentary, market analysis, and insights, as well as general investment education, and identifies particular trades that it believes will result in gains in value, but it does not provide investment advice, whether customized or otherwise. The Forecast does not owe a fiduciary duty to you, and is not aware of your financial situation, risk appetite or other investment preferences or parameters. The only information about you that The Forecast is aware of is your name, email address, date of birth and other basic information needed to purchase a subscription.
The Forecast is a publisher, and as such relies upon the publisher’s exclusion from the definition of investment adviser as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws. By using our Services, you acknowledge and agree to the foregoing and that any actions or forbearance from taking action based on the information we provide and the use of our Services is entirely at your own risk, for which The Forecast and its Affiliates shall have no liability. You understand and acknowledge that trading in securities, by its nature, involves risk of significant loss.
The Forecast is not registered as a broker-dealer, investment company or investment advisor with the United States Securities and Exchange Commission or with any state securities authority. We offer access to our Site on a subscription basis only, as described further below.
- You understand that no Content published on this Site constitutes a recommendation that any particular investment, security, sector, portfolio of securities, tax strategy, transaction or investment strategy is suitable for any specific person.
- You further understand that no one in the employ of The Forecast is advising you personally concerning the nature, potential, value or suitability of any particular investment, security, portfolio of securities, transaction, investment strategy, tax advice or strategy, retirement advice or strategy, or other matter. To the extent any of the Content published on the Site may be deemed to be investment advice, such published information is impersonal, general in nature, and not tailored to the investment needs of any specific person or entity.
- You understand that the views and opinions expressed on the Site are the opinions of our contracted analysts and of our users. The analysts may differ from time to time in their opinions about the same securities.
- You understand that the owners, officers, directors, contracted analysts and employees of The Forecast have or may have personal positions in the instruments (or similar instruments) mentioned on the Site. They agree contractually not to trade in securities in any way that is inconsistent or advantageous from a timing perspective with regard to their posts on The Forecast, nor to receive compensation from or insider information on companies whose equity or fixed income securities, or company prospects or information, that they discuss on the Site.
- You understand that the risk of loss in trading securities (including, without limitation, stocks, ETFs, options and index futures) can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. You bear responsibility for your own investment research and decisions and as noted above, should seek the advice of a qualified securities professional before making any investment.
- You understand that markets are fluid, dynamic, nonlinear systems. In order to trade such systems with a good prospect of success, one should endeavor to develop the knowledge and experience necessary to navigate its complexities. Therefore, we strongly suggest that any individual who seeks to trade in these markets takes the time to learn about finance, trading, market behavior, and related topics. We sometimes provide trade set-ups and alerts on the Site. These are provided for educational and hypothetical purposes only and are not trade recommendations. The prices quoted in the alerts are based on real-time market prices as of the time stated in the alert, and not actual fills by the analyst. Prices can change in real time, and actual trading could affect trading prices. We also sometimes track the performance of these set-ups and alerts. Performance table returns don’t include commission and other execution and trading costs, including taxes, that would be incurred if these were actual portfolios. Past performance is no guarantee of future results.
PLEASE SEE FULL DISCLOSURES
