Jesse Felder – Commodities Breaking Out; Copper, Gold, Silver, Nat Gas
Jesse Felder, Founder of The Felder Report joins us to discuss his bullish outlook for commodities. Copper, gold, silver and even natural gas are breaking out, some to all-time highs, others out of ranges.
We ask Jesse what he is attributing these breakouts to and how sustainable they are. We also discuss the investment opportunities he sees in commodities equities, in energy, copper and gold.
To wrap up we ask about the breakout in markets as well. On this front Jesse is leaning much more bearishly.
More importantly, SLV:GLD has exceeded its high of exactly one month ago by the same percentage:
https://stockcharts.com/h-sc/ui?s=SLV%3AGLD&p=D&yr=0&mn=11&dy=0&id=p42271900217&a=1671353660
Those who “sell in May and go away” this year will regret it. Despite the good action of the last 2.5 months we have yet to see silver and the miners smoke gold the way we’d expect during a bull market but that’s changing now and will set up a fully “risk-on” summer that will be good for the more speculative shares, especially laggards like my Brixton.
Wolfster, I’ve continued to buy Brixton and even Impact and did so today as well as yesterday and the day before.
Copper backed off after reaching 30% above its 200 week MA and it’s easy to see why. Notice that this level was strong support on three occasions in 2021 and that relative to this level copper would have to trade around $6.50 today to match its 2021 high.
https://stockcharts.com/h-sc/ui?s=%24COPPER&p=W&yr=5&mn=5&dy=0&id=p17500132536&a=1638725405
SLV’s previous high close of exactly one month ago was 71 cents lower than today’s close.
https://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=11&dy=0&id=p80318845090&a=1663367326