Who better to kick off the last month of this crazy year? Tony Greer rolled in his usual candor and wicked market smarts and set the record straight on a number of fronts.
Retail Investors. Time to give this group some respect. After getting it right back in April, individual investors stepped in again, big time, to help the S&P rebound. “We had the S&P down 5 % at one point on the month and retail plowed nine hundred billion dollars into the stock market, turned the market slide into a flat month, notched the seventh consecutive month of gains for the S&P and finished above the hundred and fifty day moving average…That recovery right there is pretty (expletive) astounding to me.” Looks like Santa is coming to town after all.
Whale of a Tale. Tony is not as sanguine about Bitcoin. The reported $9.6 billion Bitcoin sale by an O.G. whale back in July introduced new risk for the crypto space in what is an already challenging environment. “The reason I think that is so important and totally not discounted enough by the market is that they were supposed to be in this security for the million dollar Bitcoin print. Why all of the sudden now are the diamond hand, laser-eyed people of Bitcoin selling Bitcoin?” Add to that concerns around Michael Saylor’s Strategy’s, well, err…strategy and Tony sees further downside risk.
Silver Linings Playbook. Silver has been on a rocket ride and it is not too late to climb aboard. Despite the fact it hit a record high Monday, Tony says this has all the the hallmarks of a bull run. “Silver is doing what gold did on the way up after it broke out from $1,800 and ran to $3,500.“ While he isn’t in the silver trade, he is watching for metals to lead what he thinks could be a broad based commodity rally in 2026.
Music City Never Sounded So Good. Earlier in the day Tony announced the last two guest speakers for his inaugural TG Macro Conference taking place in Nashville in February. Harris Kupperman (a.k.a. Kuppy) and Brent Johnson of Santiago Capital, who coined the dollar milkshake theory, are attending along with Alyosha, DoombergJared Dillian, Grant Williams. Great macro minds and I’m so excited to be hosting!
If you’d like to join us, tickets are available at TG Macro Conference
If you want more on what is driving silver’s record run check out this month’s For The Record with Tavi Costa.
Thank you The Blind Squirrel, Global Macro Trader, RF, Daliah Savino, Stuart Steinfeld, and many others for tuning into my live video! Join me for my next live video in the app.
