He’s Up 201% in 2 Months… and Says a Major Market Drop Is Next
Summary
Software Topping: The guest sees a major topping process in software, favoring short exposure via IGV with volatility likely into April–May.
Financials Under Pressure: Broad financials are topping out, with plans to get aggressive on the short side using XLF and more volatile KRE.
Semiconductor Risks: Despite resilience, semiconductors show topping behavior; NVDA is cited as having topped with lackluster post-earnings action.
Precious Metals: Constructive but tactical view on gold and silver, using trading vehicles like AGQ while monitoring Fed policy, dollar, and positioning.
Oil and Rates: An oil spike could keep rates elevated and constrain Fed cuts, raising equity risk and echoing past bond market reactions to geopolitical shocks.
Copper Outlook: Positive long-term stance on copper supported by tight supply and AI/data-center demand, with technicals viewed as constructively bullish.
Volatility Window: Expects heightened market volatility around April–May inflection points, with potential 15–25% drawdowns in major indices.
Risk Management: Emphasis on disciplined trading, liquidity in ETFs, and clear stop levels to navigate the coming turbulence.
Transcript
Today we're going to talk with my good friend Greg Diamond. He is an expert trader. He is participating right now in the US Investing Championships. He's in the top spot. He's number one and we'll keep track of his progress throughout the year. He's going to give us a ton of ideas. Okay, get your pens and pencils out. Write all these down. He's going to talk about every single one of them. Nvidia, NVDA, AMD, XLF, IGV, AGQ, the silver ETF, KRE, the banking ETF. Tons of ideas. We're going to talk about silver, gold, copper, crude oil. Write this stuff down because you're going to come away with at least two really good trading ideas today. So, let's do it. Let's talk with Greg Diamond. Let's do it right now. Greg, welcome to the show. Good to see you. >> Good to be here, my friend. You, too, >> dude. I just I I did not know that you are so far, fingers crossed, knock wood, a championship investor. Tell me about that. That is super exciting. What are you doing? >> Yeah, I signed up for the United States Investment Championship. Uh, and there's a there's a bunch of divisions, but basically, you know, there's a stock division and then there's a futures and options uh division. So, I entered the futures division to not have any uh you know conflict of interest with what I do for Stanberry and my subscribers obviously. Uh and so far I'm in first place. So, up about 201% um after two months. So, yeah, a long way to go, but uh excited about that. And, you know, get is kind of putting my money where my mouth is. You know, this isn't just something that I do for Stanberry subscribers. It's you know, I'm put I put my own money up for this >> uh and it's out publicly for everybody to see. you know, I think they have a Twitter feed or X feed or whatever where you can follow along. Um, and I actually think that they send out a public notification uh every quarter. So, it's uh it's going to be intense. I think there's over 600 people who are involved in it. And, you know, former uh hedge fund trader, I think Paul Tudtor Jones was in on it. Um, you know, Mark Mavveri, I think that's how you pronounce his name. Yeah. So, you know, a lot of famous guys um and gals, I believe, who, you know, have done very very well. So, I put my hat in the ring and um give it a shot here. >> That's awesome. Yeah, we've had Mark on the show. He's a he's one of the nice one >> Triggers guys. Yeah, you know, he's he's in one of the Market Wizards books. I forget which one, but yeah, that's awesome, man. I hope you crush it. I hope you stay in first and crush it. I hope I'm not jinxing you. >> How long? >> Knock on wood. >> It's uh it's a year. So, it started, you know, your open positions of December 31st, goes all the way to December 31st or January 1st or January 1st, whatever. >> Awesome. >> Love it. I love having you on the show because like you're the real deal. You you've traded uh before you came to Stanbury. You're like a real deal trader and obviously you're proving that again. I know we're going to talk about a bunch of ticker symbols of a bunch of companies that people are really interested in and I want to dive in actually um with IGV the software >> ETF because of course you know software is you know we had sort of a mini crash recently and people are concerned that software companies will basically be put out of business to some degree you know in whole or in part by artificial intellig igence and I want to know when you look because I know you look at the charts you look you know you use Gant you just the price action tells you what you need to know so you're not screwing around this isn't like maybe whatever you just know what the market is telling you and I really and I'm sure everyone listening really wants to know what it's telling you about software at this moment in history >> yeah so at the beginning of the year uh I explained to subscribers that you know I was looking at a theme for 2026 and that theme was really based on time first and I'll get into the price action in a second but and that theme was January and then April and May essentially looking for inflection points that happened in January and then looking to hap what happened in April May which obviously we're not there yet but I think that's going to be important anyway so we saw you know a major decline in those software start stocks happen in January we also saw financials top in January Uh, and so, you know, and I and I recently just came out with a piece about, you know, some the dominoes keep falling, the generals are getting killed. Look at Microsoft, look at Apple, look at Amazon, look at Google, look at Nvidia, um, look at Meta, uh, go down the list, okay? Look at Advanced Micro Devices. Uh, I get, you know, look at JP Morgan, look at Goldman Sachs, look at Bank of America. They're all topping out, okay? And then we saw this, you know, cascading decline that happened in software stocks. Now, we'll probably get some type of a bounce here. It's a little bit oversold on the technicals, uh, you know, and some of the RSI, some of the momentum things, >> but this isn't going away. >> And similar to what we've seen in other topping processes, uh, this is no different. The wise will change. This time it's AI. It's amazing how hap how fast it's happening with what's happening. But all these things starting to top out >> is basically telling me, you know, get ready for even more volatility. Again, going back to my theme in terms of time, probably into this April, May time frame. >> So, it's not a it's not a viable dip in financials and software. It's you're telling about a major topping out process. >> Yeah. And and when I mean major, you know, it would be within the context of this bull market that we've been in since April of 2025. >> Um, >> you know, whether you want to call that cyclical or Yeah. Yeah. So, you know, it's it's within that framework. um going back to let's call it a year ago. Um and then that's where I think we can see the overall indices because they've held up very very well despite all this. But it doesn't mean that you know in the technical world it's called diversions and it it it's just a classic textbook topping process that takes months to play out >> and then it's all going to uh you know to explode. So that that's my that's my outlook. I'm glad you I'm glad you put it in the context of the overall overall market because I know even though I'm constantly telling people not to obsess about that, you know, we all do. It's it's impossible not to. >> Okay. So, that's software in particular and financials too. Okay. So, so you gave me uh two and one with that and you're talking about those in the same breath um as being part of it sounds like the same topping process with you know within the context you described of course. Mhm. >> That's interesting to me because obviously like banking is a highly technological undertaking these days and um you know we all like I I can't tell you the last time I was in a bank branch >> right >> like all it's not just all online it's all on this right yeah >> like when I don't even bank on my computer it's on my phone all the time there's a huge potential there of course for AI as well and I can't help like the list of of names games that we had to go through. It's like it's all tech besides these two, right? It's like, >> right, >> Vidia, Nvidia, AMD, TSM, is is this Are you going to tell me this is all part of one big trend? I think it is. You know, it's hard to say, you know, I mentioned it earlier. It's just moving so fast. AI is coming for loyal lawyers and, you know, all the legal documentation. They're coming for obviously software. They're coming for everything. So you know it it's happening so fast but that trend and if you look at creative destruction over time whether it's you know going from horse and buggy to the car or the airplane or whatever it might be it is uh you know that takes some time. This is happening a lot faster. So again it's not I'm not sitting here predicting that we're going to have some type of 2008 2009 type crisis at least right now. that probably comes later. But uh you know right now in this call it short to medium term we're seeing that creative destruction come through and to me that is a topping process you know that happens this year. >> And you you're obviously you're aware of the creative destruction you're aware of AI you're aware of the narrative but that ain't how you trade though is it this is just something >> it's just something to mute about isn't it? like when you >> and I don't I when I I I say it all the time. I don't look at the why and we're talking about the why here. It doesn't hurt to talk about it. But I'm not going to sit here and try to predict everything that is going to happen with AI. I think that's impossible. U at least from where I sit. Um maybe who's, you know, somebody who's in open AI at that, you know, sitting at that table knows a lot more than I do. They probably do, but even then they're not going to be able to tell you exactly how it's going to play out. >> No, they'll be >> Yeah. Right. For me, it is all about understanding time cycles and then the price action as you mentioned earlier and you know some of your listeners or viewers might be confused about what that means because I you know do things a lot differently than most which is fine. Uh but you know I've been doing it for so long that it just starts to make sense to me over and over and over again. I don't get everything right. Nobody ever does but it gives me the probabilities to be profitable consistently year after year. different. How you said you do things differently and that's fine and I think it's it sounds like it's going gang busters. It's more than fine. Um differently how how do you do things differently? >> So I look at the concept of time and that's you know a lot to take in really if you think about it but but on a 10,000 foot level these cycles that I look at that you know you mentioned Gandar and he's the one that I've modeled most of my work after is these cycles repeat. there are multiple cycles that you have to focus on um at various times throughout the year throughout a fiveyear move or a two-year move or whatever might be you might be looking at but there's repetition in it and then you interpret price and we've you know I've probably said this to you a million times before you've heard it from other traders you know price is nothing more than a reflection of all the investors actions expressed on a chart and when you study that again and again and again and again you can see those patterns so I I take the time I take those cycles I take those repeating cyclical patterns and I input price and then that allows me to either be on the long or short side of the market. And [snorts] it's not always, you know, fear gets the most headlines. Um, you know, but I'm not always just trading from the short side. You know, we we looked at uh a April low of last year and we I traded for on the long side for much of last year. This [snorts] year, I'm looking more at the short-term um put side, you know, short side. Again, we've already gone over what's happened in software. We've gone over the dominoes falling in the generals. We've looked at financials. We've already talked about that. So, you can see how I'm putting all this together and formulating this plan. Again, this this topping process might last into April, May when we look at, you know, the final domino, you know, falling over. And I always kind of go back to I don't know if you a Seinfeld fan, but there's an episode where, you know, Jerry Jerry's like in terms of, you know, a relationship ending, it's like pushing over a vending machine or a soda machine. Like you got to rock him back and forth a few times and then it falls over. And that's kind of what the market that's kind of what this topping process is. You know, it rocks back and forth. You know, we see we've seen software, we see banks, you know, the the indices may may have another run here and then that's the last time when it when it comes down, >> right? Right. And when you push it over, that's when Greg is starting to notice it's time to get long again. Probably. Right. >> Probably. Yeah. You're not far off. You're not Again, I don't think this is going to be >> Yeah. I don't think this is going to be a 2008 2009 type situation. Um again, but I do think that we could see, you know, anywhere from a 10 to 25% drop. Let's let's call it 15 to 25% drop in the major indices. >> Okay. Okay. And to be clear, like do you have any any extra like insight on Nvidia, AMD and TSM or you know is this all part of the same trend with like you know the software and the financials? >> Well again I just look at it in terms of what's happening with the price action and let's be honest you know Nvidia has held up most of the market at least semiconductors and tech for a long long time. And Nvidia topped in October of last year. Had good earnings. They weren't really, you know, impressed with it. It's had some bounces here and there since earnings last week or two weeks ago, whenever it was, and it hasn't done anything. Same thing with AMD. TSM is holding up, uh, you know, obviously as a major player, what's happening there with China. So, it's it's only a matter of time for me again heading over the next couple months where this all of it starts to roll over. Um, and that's kind of how I'm looking at it. You know, inside of what's happening with we the other thing and and I'm sure you've covered this before, but you know, how all these AI chip stocks are just all investing in each other and they're all throwing all this money around with with OpenAI and they're buying this stock and it it to me it's just insane. It's almost like it's like Burger King, Wendy's, and McDonald's all buying each other's shares and then sharing burger recipes. Like it doesn't make any sense to me. And to me, maybe that's what the final top is, you know, in let's call it 2029 or 2030, 2030, whatever it might be. But it's just big one entanglement and there's just too much money slloshing around in in in these sectors, you know, and that's when the bubble pops, so to speak. I think this is just a mini bubble pop. That's that's kind of how I'm looking at it. >> All right. Right. Just the froth coming off the Yeah. Gotcha. >> Yeah. Just scare enough enough people like this is the end, but it's actually not. Um but and again when I look at as a trader I look at as a huge opportunity. So >> do you ever do you ever trade like the the um like the index ETFs like >> Yeah. All the time. Yep. >> Yeah. >> Yeah. Well, and I I especially it's for 10 stock trader subscribers because they're so liquid. So there [snorts] are some stocks I just don't touch because the spreads are too wide. It's illlquid. You know, the options going to move way too much. But yeah, I trade the uh stock ETFs or stock index ETFs all the time >> like spy QQQ those. >> You got it. Yeah. IWM. Yeah. Go down the list. Yep. >> Okay. So, Oh, IWM. God, we could talk about how weird the Russell 2000 is probably for an hour and a half. >> It It has a mind of its own. That's what I like to say about that. Yeah, I know. >> The other thing that I think is probably still on on people's minds, I know it's on mine, is silver. Mhm. >> Which, man, that thing was so frothy and it just soared and sword and sword and then crashed in one day. Actually, it was over a couple days it bottomed out. >> But looks like it's trying to, you know, come back. Where are you with silver? Are you long silver? >> Yeah, we actually had uh we locked in 150% gain on silver SLV calls um in January >> and we traded uh AQG I always get that ticker messed up. What's that one? Yeah, AGQ, the uh the ProShares, you know, double ETF on SLV. Uh we traded that for a couple big wins, 50% and 20% I think. Uh you know, and then I just when it crashed, luckily we got out before then. >> Um we bought a little bit after the dip and now we'll see. I mean, we saw a total reversal here, you know, with silver and gold rallying obviously this Iran news. All right. All right. And now silver's down 6 and a.5%. You know, complete reversal. Are they pricing in uh you know, I don't want to say peace, but you know, limited coordinated attacks, whatever you want to call them. I don't know yet. Okay, gold's holding up, silver's holding up. I'm not going to sit here and try to predict, you know, geopolitical events and and all that. Um, but if you especially if you look Well, you look at silver, the uptrend is pretty much still there. Gold is definitely still there. So I think this is going to come down to what's going to happen with the Federal Reserve and the dollar and interest rates. What's going to happen geopolitically? And then you have to look at, you know, positioning. Is everyone long? Is everyone short? Uh does it chop around for a little while? So I think the I think the consensus or you know the answer to do we have another leg higher or is this just going to be sideways or is that is that it? Is this a another 2011 event where, you know, gold and silver don't do anything for another six, seven years? Uh, I just don't know yet. But there's still obviously opportunities there that I'll be taking advantage of this year for sure. And, you know, here's the other thing. How is the how is the gold and silver market going to be correlated with the stock market if the stock market starts to out? Is it opposite? >> Is it with it? So again, I think we still have some some questions that need to be answered, but I'm going to be looking forward to regardless of, you know, and I'm as a trader, you have to be unbiased. You can't just be a permanent bull or permanent bear or whatever. So I'll be looking forward to see how this trades, you know, over the next few months. I think it's going to be very, very interesting. >> It's already been pretty darn interesting, pal. >> Yeah, no doubt. No doubt. No doubt. if it gets any more interesting like uh I'm going to go long uh you know anti ant acids. Uh >> all right. >> But you know the other thing to talk about and discuss is some people you know listening maybe they missed out on the top or they missed out on the bottom. >> And one thing it's it's it's very I mean it happens to everybody. It's very uh it could be frustrating when you miss it a big opportunity. But just always remember unless they outlaw trading and investing, there's always going to be that next trade. >> So again, heading into this April May time frame, I think this is going another incredible opportunity whether it's long or short where we see incredible volatility in gold, silver, bonds, the dollar, stocks especially. So there there's always something next on the horizon. >> While we're still on silver, I just want to uh clarify one thing. When you trade AGQ, you recommend the stock or do you or are there options on there? >> No, I didn't trade the option on the uh >> Yeah, because it's lever >> AGQ. >> Yeah. Yeah. It doesn't mean you can't do it. I don't actually I'm pretty sure it's pretty liquid, but SLV there's so much liquidity in there, you're not going to have any issues. So, >> Right. All right. Cool. I I on gold and silver. Um, as long as I'm long gold, um, you know, I mean, I observe stops and and to me there's also a difference between like my paper silver and my physical silver. Like my physical silver is not going anywhere, >> right? But we did stop out of SLV >> uh, you know, >> and, uh, like probably, you know, everybody else. Um, so they're different to me and as long but but just kind of structurally um and I'm a different type of a guy than you just so everyone knows. I don't do what Greg does. He doesn't do what I do. I'm structurally long silver just because I think I tend to think of it as gold on steroids. And even if even if the trend in silver goes sideways and gold is soaring, it's a coiled spring and I'm just waiting and I'm content to to do that waiting. So, and you can see today it's a perfect example that silver tends to react uh more violently around war and geopolitics than gold does. They they both are obviously correlated. I'm not saying that they're not, but silver tends to be a little more sensitive to to what happens uh overseas. >> Yeah. [snorts] Speaking of the uh the the bombing of Iran and the you know the effect on markets, I noticed something. I noticed that uh the very first thing I saw was Brent futures which was the first thing to trade after >> afterward um you know because they trade in London. So that was they were up 10% like right away and then I waited for US futures to open and I was like okay 7% and I just kind of kept refreshing like 76 54 six you know it it was >> it it seemed like folks were selling into the the rally a bit >> you know it was still strong positive and still positive >> um you know after the weekend. Are you making any oil trades or do you see anything? Does your system tell you, hey, oil's interesting now or no longer? Or were you in it? Where are you on oil? >> So, uh, first I will say that I don't trade oil because you're trading against uh the OPEC cartel, which is as as much inside information as you'll ever get, and you're on and we're on the outside. I learned that the hard way uh from my days on Wall Street. I don't trade oil. I don't trade natural gas. Um, just get that out of the way. However, >> Google no matter what. >> I call it the widowmaker because I've just seen way too many people get just crushed by it. Anyway, >> right. Um so I actually highlighted crude oil this morning to subscribers and essentially is are we going to have this breakout to or is it going to be a fake out uh in terms of you know this new bullish move based on what's happening with interest rates what's happening obviously with Iran and the Middle East uh you can throw you know how China Venezuela uh I mean there's a lot of different moving parts to here in terms of all right how is is going to play out on the world stage. Um, and I think that's what you're seeing in oil right now. Again, you mentioned it popped up, it came back down. It's still up. You know, stocks dropped and then popped. You know, completely reversed. Uh, we traded uh KRE, the regional bank ETF. We had puts on those. I closed those out this morning for a double- digit gain because it was just looking to me like stock, at least the stock market is starting to price in. you know, this isn't going to be some drawn out conflict, >> right? >> Is that is that something where it's going to be like, okay, this isn't the operation in Venezuela. This isn't the bunk and buster in uh in Iran, you know, the the first time, or it actually is going to be drawn out and it actually, you know, starts to get into later this year. That could be another why in terms of, you know, kind of what I'm looking at. But I think the biggest thing with oil that we look at and and what investors and even the president and the Federal Reserve, if oil starts spiking, we look looking at bonds here, right? Uh the 30-year is up 2% today and it's following what's happening in crude. It's following what's happening with Iran. It's the same. You know what? If you really want to do something crazy after this, subscriber or listeners who are or viewers who are watching, look back exactly four years ago when Ukraine and Russia started going to war. >> Okay. And look at what happened with the bond market. We're seeing nearly the same thing that's happening right now. So is the bond market reflecting, you know, a longer term conflict and the stock market saying, "Ah, don't worry about it." Usually the bond guys have it figured out first before the stocks, and that's usually around a six-month time frame. Um um so think if you think about it just in in a correlation uh oil if oil spikes higher interest rates are not going to go down okay the Federal Reserve cannot cut they will be stuck okay and that's when you see a commodity rally that's when you see this volatility pick up in the stock market so that's how I'm viewing it I'm not necessarily viewing it like it's strictly based upon what's happening Iran uh obviously that's a big catalyst but I'm looking at it more towards kind of like what I just outlined with gold and silver was that correlation with oil, bonds and and the dollar happening with stock market heading over the next few months because if we start to see interest rates rally and crude rally that's bad news for stock market you know going forward when I look at the oil situation what I see is like a typical this would be a typical thing if we got this pop in the futures and you know there was some difficulty in the straight of hormuz for you know two weeks or whatever it is and then it all just kind of petered out now personally I like energy stocks for various reasons. For fundamental reasons, I think Venezuela is a ridiculous idea. Nobody's going to spend tens of billions of dollars there >> uh without a whole lot of other things happening that are unlikely to happen. And and I just, you know, I've I've recommended, you know, uh refiner stocks and some independent oil and gas producers. So, I'm long oil anyway, right? >> Yeah. No, I see XL's having a heck of a run here. >> Sure. Sure. Yeah. and uh and XOP too, the U like the independence. So, um you know, I I I want to be long, but I know that it's a typical thing for this to, you know, spike on the bombing and just peter out and and then we're back under. I mean, it I think Brent or one of the two either Brent or WTI hit like 80 bucks in futures. Um, so you know to if it wouldn't surprise me a bit if we're back under 70 honestly, >> right? >> Fairly soon, right? That would be a typical price action. And that kind of works for my thesis because I noticed that like Trump didn't when he invited all his oil execs to the White House, he didn't invite the ones who went in the Financial Times and said, "We hate this. We we wake up every day praying for $70 oil and we're not getting it." They're stopped with the drill baby drill already. I mean, it was kind of hilarious, but you know, I'm not suffering in the oil industry, so I can afford to laugh at it. But, uh, I, you know, for those like uh lowerc cost producers who are who who, you know, model $40 oil at, you know, 20 or 30% return at 45 bucks a barrel or 50 or something like they'll crush it anyway. So, I'm, you know, that's what I'm recommending. >> Anyway, um, >> yeah, >> oil gets interesting, you know, when people start bombing places. Um, but you know, long term, you're right. Who knows? We'll see. We'll see in 6 months, right? Uh, or three or whatever it is. So, all right. We've covered oil and silver and gold. Are there any other commodities that just kind of jump out at you as as um, you know, potential opportunity or current opportunity? >> Maybe copper, >> you know. >> Yeah. uh and you know if you actually look at copper uh correlated with gold is is very close. There's two ways to look at it. You can go into the doctor copper mode where it uh you know the health of the stock market is based upon what's happening with copper and obviously you know rare rare earth materials and AI and these data centers and what that's going to take and what it's going to look like. You know I get all that too. So that would probably be the other one. Um it would to look at you know and another way to play that obviously you know trading copper futures is not for everyone but you know you can look at your FCX Freeport um and that's a play on that too. So and that's had a nice run. So you know that to me that that's a chart I haven't traded it in a long time. Um but that that chart to me that looks constructively bullish right now. >> Yeah. And just I I have to chime in because I love the fundamentals for copper. I presented on copper two three years ago at Rick Rules. I think it was his first event after he formed Rule Investment Media. And um I mean it's it's a tough situation but it's kind of wonderful for an investor that the demand remains steady and rises and the supply has been you know not so great over the past uh actually at this point 20 years. There's a moment in history 2006 where you can see before that like new copper discoveries every year. S&P Global put out this data. New copper discoveries every year. Then starting in 2006, fewer every year. And some years, three or four of those years, zero discoveries, right? and and you got Robert Freedelland, one, you know, maybe the greatest mining entrepreneur of our time, saying, um, we need eight Escandida mines in the next, you know, decade or eight years or whatever he's saying these days and we don't have Escandida is the largest copper mine in the world in Chile and we don't have them. >> He's got one in in in Africa, but uh, you know, where the other seven are like, where are they going to come from? So, I love the longer term fundamentals. Um, and uh, and being long copper is like one of my favorite things right now. Um, >> nice. >> Just for a longer term, you know, investment. And overall, um, let me ask you about this because you look at you look at ETFs, you look at broad swaths of of stocks and fundamentally in a sort of a macro sense. It seems like the world is getting tired of like finance and and you know financial assets, pure financial assets and it's kind of realizing that there are limits to physics like you got to have a certain amount of stuff. you need oil and you need copper and you need uh you know all of these things even silver you know as an industrial metal like you need these things to operate the the global economy and to have a high standard of living and I wonder if you had a view on that if you care at all about that because you must be seeing something like if I'm half right you got to be seeing something like that in all these markets that you watch >> maybe over the past year no I I mean, again, I I kind of stick away from the why and focus more on what it's doing. Um, but yeah, I mean, I think so, you know, the the no matter what it's going to be, you're still going to have to the green energy nonsense, you know, and people can disagree with me on that, but oil is never going away. >> It's it's just never it's never going to go away. You're going to need it for everything. Okay? Even if the world went 100% green, guess what? You still need all the oil to fund that. It's so it's almost impossible anyway. Um so but I think you are seeing that in the charts. We just talked about FCX, we just talked about silver, we just talked about copper oil, you know, is probably going to be in that in that range that you mentioned earlier. So yeah, I mean the demand is going to be there. Again, I does this all end in some type of um all the chips are on one side of the table and we have this catastrophic financial event. Of course, of course it's going to happen. Absolutely. Because it always happens. So, it's just a matter of, you know, what's the catalyst for that? And to me, it seems to be the a AI. There's I mean, that just seems so obvious. But bubbles aren't, you know, something that happens when everybody's calling for it. >> Um, >> so, you know, when is that happen? That's going to be the next big big question. But, you know, obviously I'll have some some thoughts on that matter, too. Yeah, we like we are setting you up like we absolutely have to have you back in six months. >> Yeah, definitely >> because we're like we're we're identifying some things here like we got to come back to this and we got to come back to this and we got to come back for this. So, you will definitely be getting um an email from me in six months. >> Great. You know, great. if not sooner, a little later, like we, you know, we'll we'll watch the situation. And obviously, like I don't tell all the guests this, but you can shoot me an email anytime you want and say, "I got something, right? >> I hear you." Yeah. Yeah. >> You're one of the few like mostly when people do that, I'm like, "Okay, what are you promoting?" Or, you know what I'm saying, >> right? >> But, uh, but with you, I know it's because you are seeing something in the market that you just can't wait to to get out there. >> All right, man. Yeah, we'll talk about it in six months and then we'll see where I am in the in the championship trading standings as well. >> That's right. Yeah, I I can't wait to see that, too. So, like um right now, right this minute, um your trade that you are, you know, you don't have to tell me exactly what you're doing for subscribers, but generally speaking, like it sounds like short XLF, um short the software ETF, what is IGV? Those sound like your big trades for the moment. >> Uh so again, I mentioned that we closed out the KRE this morning. Uh however, you know, I'm looking at, you know, that KRE looking at XLF >> for situations over the next few weeks to not just get back into but actually get very aggressive on the short side. Uh now the the one the one sector that's holding up right now is semiconductors and we've gone over that but you know that's going to be also be something that I'm going to be uh targeting and I believe it's next week. Is it March 10th or 11th? Um I'm going to I'm hosting a webinar about exactly what we're just talking about. Uh >> specific reasons why I'm expecting this volatility. You know I give away a free stock setup that I'm looking at. Uh, I won't say it here, but um, you know, we've mentioned it. Okay, so you know, again, and this isn't just me rambling. This is me putting my money where my mouth is. This is me telling you, you know, look, this is how I look at stuff. And I don't, you know, I'm not one of these like Wall Street strategists who just talk >> and then don't take any risk. First of all, it's a phenomenal job. I don't know how they get these guys make, you know, a million dollars a year plus and they don't actually take any risk. It drives me crazy, but God bless them. Um, >> nice work if you can get it, eh? Yeah. >> Yeah. Yeah. I mean, it's it's better than being a meteorologist, I think. Anyway, >> uh, so, you know, there's a bunch, you know, I'm I'm not crazy, uh, one way or the other right now. Um, you know, I have some risk on, but right now, you know, it's really about kind of a wait and see type of moment. And again, I mentioned at the beginning, what was my theme for this year? It was January and then April and May. And we saw those January tops happen. We saw it in software. We saw it in financials. We saw a lot of the generals or the dominoes falling in tech. And so I think the next big leg or next big inflection point uh again is in a couple of months. And that's where I plan to get aggressive. [snorts] >> Okay. And just for our listeners benefit um you use KRE as just like another way to trade the financials or you know. >> Yeah. Sure. It tends to be it tends to be a little bit more volatile. >> Okay. So again tends to we you know we saw that last week where you know there was uh the lender in London you know had had got all these bad loans whatever you know I won't get into all the details but you know that started to trickle into the regional banking system here you know there was this big fear and then obviously you get the over you know the weekend news with Iran and you know that created a low okay fine um you know we were out for >> a low double digit number let's let's reevaluate and then you know uh look to reenter answer. >> Yeah. >> But KRE XLF all on the table. Yep. >> Okay. I can't remember who it was recently that I saw in the news. It was somebody huge in Europe like um I want to say Barkclays or some or credit squeeze or something uh who said that they were expecting 15% default rates in private credit, right? because we have this blue blue owl thing >> um as as a which I think may be the canary in the coal mine of private credit. >> Um man, talk about like that's a scary one because uh it was it was really not terribly difficult to do a lot of pretty decent research on the housing bubble in the mid 2000s. Right. >> Right. Right. all those public companies. I mean, all the all the documentation around the mortgage securities, banks, you know, it was it was possible to do a lot of really good work on that early on. Like you could you could see it. >> Private credit though, I almost feel like you got to know somebody. You got to know somebody at an insurance company or a PE firm or or some institution that's been buying this stuff for the last five or 10 years. Um it's it's a little harder, but you you know it's in there are public securities like Blue Al has three tickers, right? Um do you care about that at all? Do you are are you trading anything around that theme? >> I mean I don't trade in public credit. I'm not going to, you know, uh get involved in that. But perhaps this is debate and switch heading over the next couple months. Iran escalates. We saw kumishi crude oil rally, inflation expectations rally, interest rates spike, bonds crash, the Federal Reserves can't do anything. You have interest rates spike. You know, I just saw that I think today credit card debt has reached an all-time high of like 1.28 trillion or something. I mean, >> think about what that in think about what that combination and then you throw in private credit, >> okay, where interest rates are skyrocketing. >> Guess what it be? Even if it's even if it's contained, that's the in type of inflection point where you get that 20% correction. >> Yeah. Exactly. Right. Right. Subprime is contained. >> Yeah. >> It's over. >> I I'm waiting for someone to tell me it's contained so I can go short in a big way. >> Exactly. >> It's not bad. Yeah. >> Yeah. So again, I you know, I don't like to predict the why, but you know, when you see the catalyst, when you see the headlines and you start to combine that with the cycles and then the price action, you the probabilities start to become clearer for me. Uh and that's when you can take really calculated risk. And again, you know, I'm going to get aggressive here over the next couple of months. Greg, could you literally turn total blinders to the news and just pay only attention to the price action and still do what you do? Like no news. >> Absolutely. Absolutely. Absolutely. I don't watch I don't my TV. You can't see it, but it's off. Okay. I don't watch Fox Business. I don't watch CNBC. I don't watch any I don't want CNN financial. Like, it just doesn't. Now, I log into Bloomberg and I'll see these headlines, right? And I don't live in a whole I don't live, you know, in a closet, okay? I see I see headlines. I see what's happening. But to answer your question, absolutely 100%. And I, you know, um I trade the best when I'm not paying attention to what other people are saying. >> Wow. That's that h that sounds difficult to me. To me, it's actually I I learned that the hard way through when I was working on Wall Street and you have, you know, you have a phone and you have 15 people calling you from this bank, from that broker, from this guy, from this guy, and you're just getting fed constant information. Everyone thinks that's a good thing. I hated it. >> Yeah. >> Because essentially what it did is if I had a conviction in a position and I would I would make my move on it and then I have 15 other people telling me the opposite, >> that would sway you a little bit. And after so many times, and again, you know, this is earlier in my career, I said, you know what? I'm done with this. I I'd rather be wrong on my own conviction, okay? And that happens. We we all have it, right? But to be right and be swayed by this headline or this, you know, bobblehead on TV or whomever, okay? And then that gets you out of position and you end up being right and they were wrong. To me, that just made my blood boil. So, to answer your question, you just lock me in a room with my, you know, my screens, my, you know, my monitor, um, my model, my my indicators, you know, no problem. >> That's way cool. It reminds me of like, you know, Warren Buffett said he could be pretty comfortable like in prison playing bridge with, you know, two other guys and like, you know, not having fancy accommodations and just reading their annual reports whenever they happen to arrive. you know, he doesn't need to read them online or see a TV screen or anything, >> right? >> It's it's the same kind of thing. And you know, it's funny because talking to hundreds of people literally in the last what six, seven, eight years, whatever it's been. Um, that really is, it seems like it's one of the secrets. It's like you find your way of doing things >> and just and if it works, if it's good. >> Yeah. Yeah. you just stick to it like glue and it's got to be a great it's got to be a great way to live. And in one respect, which is what you just said, you can turn off all the noise. And I don't think people realize I think the average individual investor that we write to doesn't realize the really significant and very often harmful effect of all of that noise. >> Yeah. Yeah. It brings about a certain level of peace and you know I I talk to a lot of subscribers or you know people who even just get my newsletter or my updates or whatever and they don't even trade but they know that I look at the market differently. I'm not going to be influenced by these outside noise and all that stuff and it just keeps a steady you know flow of of non-biased information about all right what this is what's likely to happen next based upon you know my system. That's good because you that's a great way even like you said even if you don't trade that's a great way to use what you do >> right >> just to get you know please you know give me somebody who's a systematic strict discipline systematic thinker >> just to bounce off you know whatever crazy idea I might have um that is th those subscribers who aren't trading and reading your stuff are smart that's pretty cool actually >> um and and Frankly, that you could you could almost say that about anybody who know who really truly knows what they're doing. And that's what people wind up. That's what I wind up doing. I'm like, >> you know, there's a reason we're all paying attention to what Buffett says or, you know, lots of people pay attention to what Stanley Ducken Miller says. And in the same way, you know, um people should pay attention, I think, what Great Diamond says. Um it's not too crazy to you to mention you in the same breath as Buffett and Draen Miller. Uh, [snorts] >> well, I appreciate that. I don't have their uh their billions, but >> Yeah. Well, we're we're working on that, right? You're working on that. >> Yeah, that's right. >> All right. March 10th, you said. And I I encourage everybody to to tune in because as we just said, even if you're not a trader, like Greg is going to give you at least one one ticker, one idea, um, and explain to you how he sees the world. And it really is different. That's one of the best things I think we do in the show is like I'm really picky. Like the people people behind the scenes can tell you like they'll say, "Hey, shouldn't you have this person?" I'm going, "I don't want to talk to him. [laughter] >> We don't want that guy on this show because blah blah blah blah blah." And I'm not sure names of course, >> but you know, we do. It's like we're checking in. We got to check in regularly, you know, and that's one of the best things we do. like we vet people and we just want people who are really good at what they do and see the world in a different way. You could probably I mean I hate to say this but you know I know there are a lot of people who just listen to the podcast and they don't subscribe to any of our stuff and I bet they get a lot of great ideas just right for the podcast. >> Yeah, that's great. Yeah, >> you know, throwing the tickers and the and the ideas out. It's awesome. >> I agree. >> I think it might be time for my final question here. Same question for every guest. No matter what the topic, even if even with non-financial guests, same identical question. And if you've already said the answer, feel free to say it again. If you need some time to think, don't worry. We'll edit the silence while you think. So, here it is. If you could leave our listener with one thought today, with one takeaway, what would you like that to be? I think the biggest thing or one thought is no matter what that was no matter what your strategy is, you can be a time price guy like me, you can be a, you know, I would say a pure fundamentalist like yourself, um, is no matter what it is, you throw darts at a board and pick stocks to trade or invest in, >> always have a number. Always manage your risk. And what do I mean by that number? Let's say have $100,000. Are you comfortable getting it with it down to 80? Are you comfortable with it getting with it getting down to 70? What's your number? I can't tell you what your number is. Neither can you. Right? You know what your number is if you're managing your portfolio, whatever it might be. I'm not comfortable losing that. So, my my my message is is to always manage your risk. Stay in the game. And if you stay in the game, you'll figure out, especially if you're beginning, you know, starting out trading, investing, whatever it might be, you'll figure out what you're good at, what you're not good at. But as long as you stay in the game by knowing your number and managing your risk, you're going to be okay. >> That is awesome. It is the common refrain of the most successful and highly experienced people like yourself on this show. So, thanks for that. You just, you know, you just made the case stronger by offering it again. >> Um, >> great. >> Hey, man. Uh, it's always great to talk with you. It's always great to see you. Can't wait till I see you again in person. Whenever that's going to be, I don't even know. But thanks a lot for being here, >> Dan. My pleasure. Great to be on here as always. >> All right, talk to you soon. >> Always a pleasure to talk with my good friend Greg Diamond. I've known him for so long, 10, 15 years. It's been a long time. One of the best traders I know, one of the most knowledgeable, disciplined traders I know. And he gave us a ton of ideas. We talked about Nvidia, NVDA. We talked about AMD. We talked about the finance ETFs. and this whole arcing topping process that is going on in those tech companies and and in the finance companies too and the finance he gets at that by trading XLF and KRE right so it's a big process it's encompassing software big tech uh big finance that you find in the XLF ETF and then the smaller regional banks that you find in KRE which he told you are more volatile could be an interesting trade in there somewhere and we talked about commodities, silver, gold. He kind of sounded fairly constructive and fairly bullish, you know, maybe on those, but he's keeping an eye on them. Uh, and we talked about copper. He likes copper. I love copper for the long term, and I do like silver and gold as well. I'm much more patient on silver. Greg would be trading in and out, and I would be just a patient long longer term holder. Um, and he of course trades the more volatile ETF AGQ in silver. And the way that thing is designed, you never want to hold that for the long term. That is only for short-term trading. And Greg can tell you how to trade it. So, wow. Um, I'll tell you something. Nobody delivers trades like Greg Diamond. Uh, and and you heard his two the two current ones that sounded really best to me were short XLF and short um IGV, the software ETF. That those that's the big trend, the financials and software um on the short side. And remember, you can tune in on March 10th and see Greg doing a webinar online and he will give you yet another ticker symbol, another trading idea that he has currently researched for you. Even if you're not a trader, you'll want to tune in and you can click the link below to do that. Okay, so another great talk with my friend Greg Diamond and another great episode of the Stanberry Investor Hour. I hope you enjoyed it as much as we did. And remember, subscribe, like, and sign up for our free daily elet. Opinions expressed on this program are solely those of the contributor, and do not necessarily reflect the opinions of Stanbury Research, its parent company, or affiliates.
He’s Up 201% in 2 Months… and Says a Major Market Drop Is Next
Summary
Transcript
Today we're going to talk with my good friend Greg Diamond. He is an expert trader. He is participating right now in the US Investing Championships. He's in the top spot. He's number one and we'll keep track of his progress throughout the year. He's going to give us a ton of ideas. Okay, get your pens and pencils out. Write all these down. He's going to talk about every single one of them. Nvidia, NVDA, AMD, XLF, IGV, AGQ, the silver ETF, KRE, the banking ETF. Tons of ideas. We're going to talk about silver, gold, copper, crude oil. Write this stuff down because you're going to come away with at least two really good trading ideas today. So, let's do it. Let's talk with Greg Diamond. Let's do it right now. Greg, welcome to the show. Good to see you. >> Good to be here, my friend. You, too, >> dude. I just I I did not know that you are so far, fingers crossed, knock wood, a championship investor. Tell me about that. That is super exciting. What are you doing? >> Yeah, I signed up for the United States Investment Championship. Uh, and there's a there's a bunch of divisions, but basically, you know, there's a stock division and then there's a futures and options uh division. So, I entered the futures division to not have any uh you know conflict of interest with what I do for Stanberry and my subscribers obviously. Uh and so far I'm in first place. So, up about 201% um after two months. So, yeah, a long way to go, but uh excited about that. And, you know, get is kind of putting my money where my mouth is. You know, this isn't just something that I do for Stanberry subscribers. It's you know, I'm put I put my own money up for this >> uh and it's out publicly for everybody to see. you know, I think they have a Twitter feed or X feed or whatever where you can follow along. Um, and I actually think that they send out a public notification uh every quarter. So, it's uh it's going to be intense. I think there's over 600 people who are involved in it. And, you know, former uh hedge fund trader, I think Paul Tudtor Jones was in on it. Um, you know, Mark Mavveri, I think that's how you pronounce his name. Yeah. So, you know, a lot of famous guys um and gals, I believe, who, you know, have done very very well. So, I put my hat in the ring and um give it a shot here. >> That's awesome. Yeah, we've had Mark on the show. He's a he's one of the nice one >> Triggers guys. Yeah, you know, he's he's in one of the Market Wizards books. I forget which one, but yeah, that's awesome, man. I hope you crush it. I hope you stay in first and crush it. I hope I'm not jinxing you. >> How long? >> Knock on wood. >> It's uh it's a year. So, it started, you know, your open positions of December 31st, goes all the way to December 31st or January 1st or January 1st, whatever. >> Awesome. >> Love it. I love having you on the show because like you're the real deal. You you've traded uh before you came to Stanbury. You're like a real deal trader and obviously you're proving that again. I know we're going to talk about a bunch of ticker symbols of a bunch of companies that people are really interested in and I want to dive in actually um with IGV the software >> ETF because of course you know software is you know we had sort of a mini crash recently and people are concerned that software companies will basically be put out of business to some degree you know in whole or in part by artificial intellig igence and I want to know when you look because I know you look at the charts you look you know you use Gant you just the price action tells you what you need to know so you're not screwing around this isn't like maybe whatever you just know what the market is telling you and I really and I'm sure everyone listening really wants to know what it's telling you about software at this moment in history >> yeah so at the beginning of the year uh I explained to subscribers that you know I was looking at a theme for 2026 and that theme was really based on time first and I'll get into the price action in a second but and that theme was January and then April and May essentially looking for inflection points that happened in January and then looking to hap what happened in April May which obviously we're not there yet but I think that's going to be important anyway so we saw you know a major decline in those software start stocks happen in January we also saw financials top in January Uh, and so, you know, and I and I recently just came out with a piece about, you know, some the dominoes keep falling, the generals are getting killed. Look at Microsoft, look at Apple, look at Amazon, look at Google, look at Nvidia, um, look at Meta, uh, go down the list, okay? Look at Advanced Micro Devices. Uh, I get, you know, look at JP Morgan, look at Goldman Sachs, look at Bank of America. They're all topping out, okay? And then we saw this, you know, cascading decline that happened in software stocks. Now, we'll probably get some type of a bounce here. It's a little bit oversold on the technicals, uh, you know, and some of the RSI, some of the momentum things, >> but this isn't going away. >> And similar to what we've seen in other topping processes, uh, this is no different. The wise will change. This time it's AI. It's amazing how hap how fast it's happening with what's happening. But all these things starting to top out >> is basically telling me, you know, get ready for even more volatility. Again, going back to my theme in terms of time, probably into this April, May time frame. >> So, it's not a it's not a viable dip in financials and software. It's you're telling about a major topping out process. >> Yeah. And and when I mean major, you know, it would be within the context of this bull market that we've been in since April of 2025. >> Um, >> you know, whether you want to call that cyclical or Yeah. Yeah. So, you know, it's it's within that framework. um going back to let's call it a year ago. Um and then that's where I think we can see the overall indices because they've held up very very well despite all this. But it doesn't mean that you know in the technical world it's called diversions and it it it's just a classic textbook topping process that takes months to play out >> and then it's all going to uh you know to explode. So that that's my that's my outlook. I'm glad you I'm glad you put it in the context of the overall overall market because I know even though I'm constantly telling people not to obsess about that, you know, we all do. It's it's impossible not to. >> Okay. So, that's software in particular and financials too. Okay. So, so you gave me uh two and one with that and you're talking about those in the same breath um as being part of it sounds like the same topping process with you know within the context you described of course. Mhm. >> That's interesting to me because obviously like banking is a highly technological undertaking these days and um you know we all like I I can't tell you the last time I was in a bank branch >> right >> like all it's not just all online it's all on this right yeah >> like when I don't even bank on my computer it's on my phone all the time there's a huge potential there of course for AI as well and I can't help like the list of of names games that we had to go through. It's like it's all tech besides these two, right? It's like, >> right, >> Vidia, Nvidia, AMD, TSM, is is this Are you going to tell me this is all part of one big trend? I think it is. You know, it's hard to say, you know, I mentioned it earlier. It's just moving so fast. AI is coming for loyal lawyers and, you know, all the legal documentation. They're coming for obviously software. They're coming for everything. So you know it it's happening so fast but that trend and if you look at creative destruction over time whether it's you know going from horse and buggy to the car or the airplane or whatever it might be it is uh you know that takes some time. This is happening a lot faster. So again it's not I'm not sitting here predicting that we're going to have some type of 2008 2009 type crisis at least right now. that probably comes later. But uh you know right now in this call it short to medium term we're seeing that creative destruction come through and to me that is a topping process you know that happens this year. >> And you you're obviously you're aware of the creative destruction you're aware of AI you're aware of the narrative but that ain't how you trade though is it this is just something >> it's just something to mute about isn't it? like when you >> and I don't I when I I I say it all the time. I don't look at the why and we're talking about the why here. It doesn't hurt to talk about it. But I'm not going to sit here and try to predict everything that is going to happen with AI. I think that's impossible. U at least from where I sit. Um maybe who's, you know, somebody who's in open AI at that, you know, sitting at that table knows a lot more than I do. They probably do, but even then they're not going to be able to tell you exactly how it's going to play out. >> No, they'll be >> Yeah. Right. For me, it is all about understanding time cycles and then the price action as you mentioned earlier and you know some of your listeners or viewers might be confused about what that means because I you know do things a lot differently than most which is fine. Uh but you know I've been doing it for so long that it just starts to make sense to me over and over and over again. I don't get everything right. Nobody ever does but it gives me the probabilities to be profitable consistently year after year. different. How you said you do things differently and that's fine and I think it's it sounds like it's going gang busters. It's more than fine. Um differently how how do you do things differently? >> So I look at the concept of time and that's you know a lot to take in really if you think about it but but on a 10,000 foot level these cycles that I look at that you know you mentioned Gandar and he's the one that I've modeled most of my work after is these cycles repeat. there are multiple cycles that you have to focus on um at various times throughout the year throughout a fiveyear move or a two-year move or whatever might be you might be looking at but there's repetition in it and then you interpret price and we've you know I've probably said this to you a million times before you've heard it from other traders you know price is nothing more than a reflection of all the investors actions expressed on a chart and when you study that again and again and again and again you can see those patterns so I I take the time I take those cycles I take those repeating cyclical patterns and I input price and then that allows me to either be on the long or short side of the market. And [snorts] it's not always, you know, fear gets the most headlines. Um, you know, but I'm not always just trading from the short side. You know, we we looked at uh a April low of last year and we I traded for on the long side for much of last year. This [snorts] year, I'm looking more at the short-term um put side, you know, short side. Again, we've already gone over what's happened in software. We've gone over the dominoes falling in the generals. We've looked at financials. We've already talked about that. So, you can see how I'm putting all this together and formulating this plan. Again, this this topping process might last into April, May when we look at, you know, the final domino, you know, falling over. And I always kind of go back to I don't know if you a Seinfeld fan, but there's an episode where, you know, Jerry Jerry's like in terms of, you know, a relationship ending, it's like pushing over a vending machine or a soda machine. Like you got to rock him back and forth a few times and then it falls over. And that's kind of what the market that's kind of what this topping process is. You know, it rocks back and forth. You know, we see we've seen software, we see banks, you know, the the indices may may have another run here and then that's the last time when it when it comes down, >> right? Right. And when you push it over, that's when Greg is starting to notice it's time to get long again. Probably. Right. >> Probably. Yeah. You're not far off. You're not Again, I don't think this is going to be >> Yeah. I don't think this is going to be a 2008 2009 type situation. Um again, but I do think that we could see, you know, anywhere from a 10 to 25% drop. Let's let's call it 15 to 25% drop in the major indices. >> Okay. Okay. And to be clear, like do you have any any extra like insight on Nvidia, AMD and TSM or you know is this all part of the same trend with like you know the software and the financials? >> Well again I just look at it in terms of what's happening with the price action and let's be honest you know Nvidia has held up most of the market at least semiconductors and tech for a long long time. And Nvidia topped in October of last year. Had good earnings. They weren't really, you know, impressed with it. It's had some bounces here and there since earnings last week or two weeks ago, whenever it was, and it hasn't done anything. Same thing with AMD. TSM is holding up, uh, you know, obviously as a major player, what's happening there with China. So, it's it's only a matter of time for me again heading over the next couple months where this all of it starts to roll over. Um, and that's kind of how I'm looking at it. You know, inside of what's happening with we the other thing and and I'm sure you've covered this before, but you know, how all these AI chip stocks are just all investing in each other and they're all throwing all this money around with with OpenAI and they're buying this stock and it it to me it's just insane. It's almost like it's like Burger King, Wendy's, and McDonald's all buying each other's shares and then sharing burger recipes. Like it doesn't make any sense to me. And to me, maybe that's what the final top is, you know, in let's call it 2029 or 2030, 2030, whatever it might be. But it's just big one entanglement and there's just too much money slloshing around in in in these sectors, you know, and that's when the bubble pops, so to speak. I think this is just a mini bubble pop. That's that's kind of how I'm looking at it. >> All right. Right. Just the froth coming off the Yeah. Gotcha. >> Yeah. Just scare enough enough people like this is the end, but it's actually not. Um but and again when I look at as a trader I look at as a huge opportunity. So >> do you ever do you ever trade like the the um like the index ETFs like >> Yeah. All the time. Yep. >> Yeah. >> Yeah. Well, and I I especially it's for 10 stock trader subscribers because they're so liquid. So there [snorts] are some stocks I just don't touch because the spreads are too wide. It's illlquid. You know, the options going to move way too much. But yeah, I trade the uh stock ETFs or stock index ETFs all the time >> like spy QQQ those. >> You got it. Yeah. IWM. Yeah. Go down the list. Yep. >> Okay. So, Oh, IWM. God, we could talk about how weird the Russell 2000 is probably for an hour and a half. >> It It has a mind of its own. That's what I like to say about that. Yeah, I know. >> The other thing that I think is probably still on on people's minds, I know it's on mine, is silver. Mhm. >> Which, man, that thing was so frothy and it just soared and sword and sword and then crashed in one day. Actually, it was over a couple days it bottomed out. >> But looks like it's trying to, you know, come back. Where are you with silver? Are you long silver? >> Yeah, we actually had uh we locked in 150% gain on silver SLV calls um in January >> and we traded uh AQG I always get that ticker messed up. What's that one? Yeah, AGQ, the uh the ProShares, you know, double ETF on SLV. Uh we traded that for a couple big wins, 50% and 20% I think. Uh you know, and then I just when it crashed, luckily we got out before then. >> Um we bought a little bit after the dip and now we'll see. I mean, we saw a total reversal here, you know, with silver and gold rallying obviously this Iran news. All right. All right. And now silver's down 6 and a.5%. You know, complete reversal. Are they pricing in uh you know, I don't want to say peace, but you know, limited coordinated attacks, whatever you want to call them. I don't know yet. Okay, gold's holding up, silver's holding up. I'm not going to sit here and try to predict, you know, geopolitical events and and all that. Um, but if you especially if you look Well, you look at silver, the uptrend is pretty much still there. Gold is definitely still there. So I think this is going to come down to what's going to happen with the Federal Reserve and the dollar and interest rates. What's going to happen geopolitically? And then you have to look at, you know, positioning. Is everyone long? Is everyone short? Uh does it chop around for a little while? So I think the I think the consensus or you know the answer to do we have another leg higher or is this just going to be sideways or is that is that it? Is this a another 2011 event where, you know, gold and silver don't do anything for another six, seven years? Uh, I just don't know yet. But there's still obviously opportunities there that I'll be taking advantage of this year for sure. And, you know, here's the other thing. How is the how is the gold and silver market going to be correlated with the stock market if the stock market starts to out? Is it opposite? >> Is it with it? So again, I think we still have some some questions that need to be answered, but I'm going to be looking forward to regardless of, you know, and I'm as a trader, you have to be unbiased. You can't just be a permanent bull or permanent bear or whatever. So I'll be looking forward to see how this trades, you know, over the next few months. I think it's going to be very, very interesting. >> It's already been pretty darn interesting, pal. >> Yeah, no doubt. No doubt. No doubt. if it gets any more interesting like uh I'm going to go long uh you know anti ant acids. Uh >> all right. >> But you know the other thing to talk about and discuss is some people you know listening maybe they missed out on the top or they missed out on the bottom. >> And one thing it's it's it's very I mean it happens to everybody. It's very uh it could be frustrating when you miss it a big opportunity. But just always remember unless they outlaw trading and investing, there's always going to be that next trade. >> So again, heading into this April May time frame, I think this is going another incredible opportunity whether it's long or short where we see incredible volatility in gold, silver, bonds, the dollar, stocks especially. So there there's always something next on the horizon. >> While we're still on silver, I just want to uh clarify one thing. When you trade AGQ, you recommend the stock or do you or are there options on there? >> No, I didn't trade the option on the uh >> Yeah, because it's lever >> AGQ. >> Yeah. Yeah. It doesn't mean you can't do it. I don't actually I'm pretty sure it's pretty liquid, but SLV there's so much liquidity in there, you're not going to have any issues. So, >> Right. All right. Cool. I I on gold and silver. Um, as long as I'm long gold, um, you know, I mean, I observe stops and and to me there's also a difference between like my paper silver and my physical silver. Like my physical silver is not going anywhere, >> right? But we did stop out of SLV >> uh, you know, >> and, uh, like probably, you know, everybody else. Um, so they're different to me and as long but but just kind of structurally um and I'm a different type of a guy than you just so everyone knows. I don't do what Greg does. He doesn't do what I do. I'm structurally long silver just because I think I tend to think of it as gold on steroids. And even if even if the trend in silver goes sideways and gold is soaring, it's a coiled spring and I'm just waiting and I'm content to to do that waiting. So, and you can see today it's a perfect example that silver tends to react uh more violently around war and geopolitics than gold does. They they both are obviously correlated. I'm not saying that they're not, but silver tends to be a little more sensitive to to what happens uh overseas. >> Yeah. [snorts] Speaking of the uh the the bombing of Iran and the you know the effect on markets, I noticed something. I noticed that uh the very first thing I saw was Brent futures which was the first thing to trade after >> afterward um you know because they trade in London. So that was they were up 10% like right away and then I waited for US futures to open and I was like okay 7% and I just kind of kept refreshing like 76 54 six you know it it was >> it it seemed like folks were selling into the the rally a bit >> you know it was still strong positive and still positive >> um you know after the weekend. Are you making any oil trades or do you see anything? Does your system tell you, hey, oil's interesting now or no longer? Or were you in it? Where are you on oil? >> So, uh, first I will say that I don't trade oil because you're trading against uh the OPEC cartel, which is as as much inside information as you'll ever get, and you're on and we're on the outside. I learned that the hard way uh from my days on Wall Street. I don't trade oil. I don't trade natural gas. Um, just get that out of the way. However, >> Google no matter what. >> I call it the widowmaker because I've just seen way too many people get just crushed by it. Anyway, >> right. Um so I actually highlighted crude oil this morning to subscribers and essentially is are we going to have this breakout to or is it going to be a fake out uh in terms of you know this new bullish move based on what's happening with interest rates what's happening obviously with Iran and the Middle East uh you can throw you know how China Venezuela uh I mean there's a lot of different moving parts to here in terms of all right how is is going to play out on the world stage. Um, and I think that's what you're seeing in oil right now. Again, you mentioned it popped up, it came back down. It's still up. You know, stocks dropped and then popped. You know, completely reversed. Uh, we traded uh KRE, the regional bank ETF. We had puts on those. I closed those out this morning for a double- digit gain because it was just looking to me like stock, at least the stock market is starting to price in. you know, this isn't going to be some drawn out conflict, >> right? >> Is that is that something where it's going to be like, okay, this isn't the operation in Venezuela. This isn't the bunk and buster in uh in Iran, you know, the the first time, or it actually is going to be drawn out and it actually, you know, starts to get into later this year. That could be another why in terms of, you know, kind of what I'm looking at. But I think the biggest thing with oil that we look at and and what investors and even the president and the Federal Reserve, if oil starts spiking, we look looking at bonds here, right? Uh the 30-year is up 2% today and it's following what's happening in crude. It's following what's happening with Iran. It's the same. You know what? If you really want to do something crazy after this, subscriber or listeners who are or viewers who are watching, look back exactly four years ago when Ukraine and Russia started going to war. >> Okay. And look at what happened with the bond market. We're seeing nearly the same thing that's happening right now. So is the bond market reflecting, you know, a longer term conflict and the stock market saying, "Ah, don't worry about it." Usually the bond guys have it figured out first before the stocks, and that's usually around a six-month time frame. Um um so think if you think about it just in in a correlation uh oil if oil spikes higher interest rates are not going to go down okay the Federal Reserve cannot cut they will be stuck okay and that's when you see a commodity rally that's when you see this volatility pick up in the stock market so that's how I'm viewing it I'm not necessarily viewing it like it's strictly based upon what's happening Iran uh obviously that's a big catalyst but I'm looking at it more towards kind of like what I just outlined with gold and silver was that correlation with oil, bonds and and the dollar happening with stock market heading over the next few months because if we start to see interest rates rally and crude rally that's bad news for stock market you know going forward when I look at the oil situation what I see is like a typical this would be a typical thing if we got this pop in the futures and you know there was some difficulty in the straight of hormuz for you know two weeks or whatever it is and then it all just kind of petered out now personally I like energy stocks for various reasons. For fundamental reasons, I think Venezuela is a ridiculous idea. Nobody's going to spend tens of billions of dollars there >> uh without a whole lot of other things happening that are unlikely to happen. And and I just, you know, I've I've recommended, you know, uh refiner stocks and some independent oil and gas producers. So, I'm long oil anyway, right? >> Yeah. No, I see XL's having a heck of a run here. >> Sure. Sure. Yeah. and uh and XOP too, the U like the independence. So, um you know, I I I want to be long, but I know that it's a typical thing for this to, you know, spike on the bombing and just peter out and and then we're back under. I mean, it I think Brent or one of the two either Brent or WTI hit like 80 bucks in futures. Um, so you know to if it wouldn't surprise me a bit if we're back under 70 honestly, >> right? >> Fairly soon, right? That would be a typical price action. And that kind of works for my thesis because I noticed that like Trump didn't when he invited all his oil execs to the White House, he didn't invite the ones who went in the Financial Times and said, "We hate this. We we wake up every day praying for $70 oil and we're not getting it." They're stopped with the drill baby drill already. I mean, it was kind of hilarious, but you know, I'm not suffering in the oil industry, so I can afford to laugh at it. But, uh, I, you know, for those like uh lowerc cost producers who are who who, you know, model $40 oil at, you know, 20 or 30% return at 45 bucks a barrel or 50 or something like they'll crush it anyway. So, I'm, you know, that's what I'm recommending. >> Anyway, um, >> yeah, >> oil gets interesting, you know, when people start bombing places. Um, but you know, long term, you're right. Who knows? We'll see. We'll see in 6 months, right? Uh, or three or whatever it is. So, all right. We've covered oil and silver and gold. Are there any other commodities that just kind of jump out at you as as um, you know, potential opportunity or current opportunity? >> Maybe copper, >> you know. >> Yeah. uh and you know if you actually look at copper uh correlated with gold is is very close. There's two ways to look at it. You can go into the doctor copper mode where it uh you know the health of the stock market is based upon what's happening with copper and obviously you know rare rare earth materials and AI and these data centers and what that's going to take and what it's going to look like. You know I get all that too. So that would probably be the other one. Um it would to look at you know and another way to play that obviously you know trading copper futures is not for everyone but you know you can look at your FCX Freeport um and that's a play on that too. So and that's had a nice run. So you know that to me that that's a chart I haven't traded it in a long time. Um but that that chart to me that looks constructively bullish right now. >> Yeah. And just I I have to chime in because I love the fundamentals for copper. I presented on copper two three years ago at Rick Rules. I think it was his first event after he formed Rule Investment Media. And um I mean it's it's a tough situation but it's kind of wonderful for an investor that the demand remains steady and rises and the supply has been you know not so great over the past uh actually at this point 20 years. There's a moment in history 2006 where you can see before that like new copper discoveries every year. S&P Global put out this data. New copper discoveries every year. Then starting in 2006, fewer every year. And some years, three or four of those years, zero discoveries, right? and and you got Robert Freedelland, one, you know, maybe the greatest mining entrepreneur of our time, saying, um, we need eight Escandida mines in the next, you know, decade or eight years or whatever he's saying these days and we don't have Escandida is the largest copper mine in the world in Chile and we don't have them. >> He's got one in in in Africa, but uh, you know, where the other seven are like, where are they going to come from? So, I love the longer term fundamentals. Um, and uh, and being long copper is like one of my favorite things right now. Um, >> nice. >> Just for a longer term, you know, investment. And overall, um, let me ask you about this because you look at you look at ETFs, you look at broad swaths of of stocks and fundamentally in a sort of a macro sense. It seems like the world is getting tired of like finance and and you know financial assets, pure financial assets and it's kind of realizing that there are limits to physics like you got to have a certain amount of stuff. you need oil and you need copper and you need uh you know all of these things even silver you know as an industrial metal like you need these things to operate the the global economy and to have a high standard of living and I wonder if you had a view on that if you care at all about that because you must be seeing something like if I'm half right you got to be seeing something like that in all these markets that you watch >> maybe over the past year no I I mean, again, I I kind of stick away from the why and focus more on what it's doing. Um, but yeah, I mean, I think so, you know, the the no matter what it's going to be, you're still going to have to the green energy nonsense, you know, and people can disagree with me on that, but oil is never going away. >> It's it's just never it's never going to go away. You're going to need it for everything. Okay? Even if the world went 100% green, guess what? You still need all the oil to fund that. It's so it's almost impossible anyway. Um so but I think you are seeing that in the charts. We just talked about FCX, we just talked about silver, we just talked about copper oil, you know, is probably going to be in that in that range that you mentioned earlier. So yeah, I mean the demand is going to be there. Again, I does this all end in some type of um all the chips are on one side of the table and we have this catastrophic financial event. Of course, of course it's going to happen. Absolutely. Because it always happens. So, it's just a matter of, you know, what's the catalyst for that? And to me, it seems to be the a AI. There's I mean, that just seems so obvious. But bubbles aren't, you know, something that happens when everybody's calling for it. >> Um, >> so, you know, when is that happen? That's going to be the next big big question. But, you know, obviously I'll have some some thoughts on that matter, too. Yeah, we like we are setting you up like we absolutely have to have you back in six months. >> Yeah, definitely >> because we're like we're we're identifying some things here like we got to come back to this and we got to come back to this and we got to come back for this. So, you will definitely be getting um an email from me in six months. >> Great. You know, great. if not sooner, a little later, like we, you know, we'll we'll watch the situation. And obviously, like I don't tell all the guests this, but you can shoot me an email anytime you want and say, "I got something, right? >> I hear you." Yeah. Yeah. >> You're one of the few like mostly when people do that, I'm like, "Okay, what are you promoting?" Or, you know what I'm saying, >> right? >> But, uh, but with you, I know it's because you are seeing something in the market that you just can't wait to to get out there. >> All right, man. Yeah, we'll talk about it in six months and then we'll see where I am in the in the championship trading standings as well. >> That's right. Yeah, I I can't wait to see that, too. So, like um right now, right this minute, um your trade that you are, you know, you don't have to tell me exactly what you're doing for subscribers, but generally speaking, like it sounds like short XLF, um short the software ETF, what is IGV? Those sound like your big trades for the moment. >> Uh so again, I mentioned that we closed out the KRE this morning. Uh however, you know, I'm looking at, you know, that KRE looking at XLF >> for situations over the next few weeks to not just get back into but actually get very aggressive on the short side. Uh now the the one the one sector that's holding up right now is semiconductors and we've gone over that but you know that's going to be also be something that I'm going to be uh targeting and I believe it's next week. Is it March 10th or 11th? Um I'm going to I'm hosting a webinar about exactly what we're just talking about. Uh >> specific reasons why I'm expecting this volatility. You know I give away a free stock setup that I'm looking at. Uh, I won't say it here, but um, you know, we've mentioned it. Okay, so you know, again, and this isn't just me rambling. This is me putting my money where my mouth is. This is me telling you, you know, look, this is how I look at stuff. And I don't, you know, I'm not one of these like Wall Street strategists who just talk >> and then don't take any risk. First of all, it's a phenomenal job. I don't know how they get these guys make, you know, a million dollars a year plus and they don't actually take any risk. It drives me crazy, but God bless them. Um, >> nice work if you can get it, eh? Yeah. >> Yeah. Yeah. I mean, it's it's better than being a meteorologist, I think. Anyway, >> uh, so, you know, there's a bunch, you know, I'm I'm not crazy, uh, one way or the other right now. Um, you know, I have some risk on, but right now, you know, it's really about kind of a wait and see type of moment. And again, I mentioned at the beginning, what was my theme for this year? It was January and then April and May. And we saw those January tops happen. We saw it in software. We saw it in financials. We saw a lot of the generals or the dominoes falling in tech. And so I think the next big leg or next big inflection point uh again is in a couple of months. And that's where I plan to get aggressive. [snorts] >> Okay. And just for our listeners benefit um you use KRE as just like another way to trade the financials or you know. >> Yeah. Sure. It tends to be it tends to be a little bit more volatile. >> Okay. So again tends to we you know we saw that last week where you know there was uh the lender in London you know had had got all these bad loans whatever you know I won't get into all the details but you know that started to trickle into the regional banking system here you know there was this big fear and then obviously you get the over you know the weekend news with Iran and you know that created a low okay fine um you know we were out for >> a low double digit number let's let's reevaluate and then you know uh look to reenter answer. >> Yeah. >> But KRE XLF all on the table. Yep. >> Okay. I can't remember who it was recently that I saw in the news. It was somebody huge in Europe like um I want to say Barkclays or some or credit squeeze or something uh who said that they were expecting 15% default rates in private credit, right? because we have this blue blue owl thing >> um as as a which I think may be the canary in the coal mine of private credit. >> Um man, talk about like that's a scary one because uh it was it was really not terribly difficult to do a lot of pretty decent research on the housing bubble in the mid 2000s. Right. >> Right. Right. all those public companies. I mean, all the all the documentation around the mortgage securities, banks, you know, it was it was possible to do a lot of really good work on that early on. Like you could you could see it. >> Private credit though, I almost feel like you got to know somebody. You got to know somebody at an insurance company or a PE firm or or some institution that's been buying this stuff for the last five or 10 years. Um it's it's a little harder, but you you know it's in there are public securities like Blue Al has three tickers, right? Um do you care about that at all? Do you are are you trading anything around that theme? >> I mean I don't trade in public credit. I'm not going to, you know, uh get involved in that. But perhaps this is debate and switch heading over the next couple months. Iran escalates. We saw kumishi crude oil rally, inflation expectations rally, interest rates spike, bonds crash, the Federal Reserves can't do anything. You have interest rates spike. You know, I just saw that I think today credit card debt has reached an all-time high of like 1.28 trillion or something. I mean, >> think about what that in think about what that combination and then you throw in private credit, >> okay, where interest rates are skyrocketing. >> Guess what it be? Even if it's even if it's contained, that's the in type of inflection point where you get that 20% correction. >> Yeah. Exactly. Right. Right. Subprime is contained. >> Yeah. >> It's over. >> I I'm waiting for someone to tell me it's contained so I can go short in a big way. >> Exactly. >> It's not bad. Yeah. >> Yeah. So again, I you know, I don't like to predict the why, but you know, when you see the catalyst, when you see the headlines and you start to combine that with the cycles and then the price action, you the probabilities start to become clearer for me. Uh and that's when you can take really calculated risk. And again, you know, I'm going to get aggressive here over the next couple of months. Greg, could you literally turn total blinders to the news and just pay only attention to the price action and still do what you do? Like no news. >> Absolutely. Absolutely. Absolutely. I don't watch I don't my TV. You can't see it, but it's off. Okay. I don't watch Fox Business. I don't watch CNBC. I don't watch any I don't want CNN financial. Like, it just doesn't. Now, I log into Bloomberg and I'll see these headlines, right? And I don't live in a whole I don't live, you know, in a closet, okay? I see I see headlines. I see what's happening. But to answer your question, absolutely 100%. And I, you know, um I trade the best when I'm not paying attention to what other people are saying. >> Wow. That's that h that sounds difficult to me. To me, it's actually I I learned that the hard way through when I was working on Wall Street and you have, you know, you have a phone and you have 15 people calling you from this bank, from that broker, from this guy, from this guy, and you're just getting fed constant information. Everyone thinks that's a good thing. I hated it. >> Yeah. >> Because essentially what it did is if I had a conviction in a position and I would I would make my move on it and then I have 15 other people telling me the opposite, >> that would sway you a little bit. And after so many times, and again, you know, this is earlier in my career, I said, you know what? I'm done with this. I I'd rather be wrong on my own conviction, okay? And that happens. We we all have it, right? But to be right and be swayed by this headline or this, you know, bobblehead on TV or whomever, okay? And then that gets you out of position and you end up being right and they were wrong. To me, that just made my blood boil. So, to answer your question, you just lock me in a room with my, you know, my screens, my, you know, my monitor, um, my model, my my indicators, you know, no problem. >> That's way cool. It reminds me of like, you know, Warren Buffett said he could be pretty comfortable like in prison playing bridge with, you know, two other guys and like, you know, not having fancy accommodations and just reading their annual reports whenever they happen to arrive. you know, he doesn't need to read them online or see a TV screen or anything, >> right? >> It's it's the same kind of thing. And you know, it's funny because talking to hundreds of people literally in the last what six, seven, eight years, whatever it's been. Um, that really is, it seems like it's one of the secrets. It's like you find your way of doing things >> and just and if it works, if it's good. >> Yeah. Yeah. you just stick to it like glue and it's got to be a great it's got to be a great way to live. And in one respect, which is what you just said, you can turn off all the noise. And I don't think people realize I think the average individual investor that we write to doesn't realize the really significant and very often harmful effect of all of that noise. >> Yeah. Yeah. It brings about a certain level of peace and you know I I talk to a lot of subscribers or you know people who even just get my newsletter or my updates or whatever and they don't even trade but they know that I look at the market differently. I'm not going to be influenced by these outside noise and all that stuff and it just keeps a steady you know flow of of non-biased information about all right what this is what's likely to happen next based upon you know my system. That's good because you that's a great way even like you said even if you don't trade that's a great way to use what you do >> right >> just to get you know please you know give me somebody who's a systematic strict discipline systematic thinker >> just to bounce off you know whatever crazy idea I might have um that is th those subscribers who aren't trading and reading your stuff are smart that's pretty cool actually >> um and and Frankly, that you could you could almost say that about anybody who know who really truly knows what they're doing. And that's what people wind up. That's what I wind up doing. I'm like, >> you know, there's a reason we're all paying attention to what Buffett says or, you know, lots of people pay attention to what Stanley Ducken Miller says. And in the same way, you know, um people should pay attention, I think, what Great Diamond says. Um it's not too crazy to you to mention you in the same breath as Buffett and Draen Miller. Uh, [snorts] >> well, I appreciate that. I don't have their uh their billions, but >> Yeah. Well, we're we're working on that, right? You're working on that. >> Yeah, that's right. >> All right. March 10th, you said. And I I encourage everybody to to tune in because as we just said, even if you're not a trader, like Greg is going to give you at least one one ticker, one idea, um, and explain to you how he sees the world. And it really is different. That's one of the best things I think we do in the show is like I'm really picky. Like the people people behind the scenes can tell you like they'll say, "Hey, shouldn't you have this person?" I'm going, "I don't want to talk to him. [laughter] >> We don't want that guy on this show because blah blah blah blah blah." And I'm not sure names of course, >> but you know, we do. It's like we're checking in. We got to check in regularly, you know, and that's one of the best things we do. like we vet people and we just want people who are really good at what they do and see the world in a different way. You could probably I mean I hate to say this but you know I know there are a lot of people who just listen to the podcast and they don't subscribe to any of our stuff and I bet they get a lot of great ideas just right for the podcast. >> Yeah, that's great. Yeah, >> you know, throwing the tickers and the and the ideas out. It's awesome. >> I agree. >> I think it might be time for my final question here. Same question for every guest. No matter what the topic, even if even with non-financial guests, same identical question. And if you've already said the answer, feel free to say it again. If you need some time to think, don't worry. We'll edit the silence while you think. So, here it is. If you could leave our listener with one thought today, with one takeaway, what would you like that to be? I think the biggest thing or one thought is no matter what that was no matter what your strategy is, you can be a time price guy like me, you can be a, you know, I would say a pure fundamentalist like yourself, um, is no matter what it is, you throw darts at a board and pick stocks to trade or invest in, >> always have a number. Always manage your risk. And what do I mean by that number? Let's say have $100,000. Are you comfortable getting it with it down to 80? Are you comfortable with it getting with it getting down to 70? What's your number? I can't tell you what your number is. Neither can you. Right? You know what your number is if you're managing your portfolio, whatever it might be. I'm not comfortable losing that. So, my my my message is is to always manage your risk. Stay in the game. And if you stay in the game, you'll figure out, especially if you're beginning, you know, starting out trading, investing, whatever it might be, you'll figure out what you're good at, what you're not good at. But as long as you stay in the game by knowing your number and managing your risk, you're going to be okay. >> That is awesome. It is the common refrain of the most successful and highly experienced people like yourself on this show. So, thanks for that. You just, you know, you just made the case stronger by offering it again. >> Um, >> great. >> Hey, man. Uh, it's always great to talk with you. It's always great to see you. Can't wait till I see you again in person. Whenever that's going to be, I don't even know. But thanks a lot for being here, >> Dan. My pleasure. Great to be on here as always. >> All right, talk to you soon. >> Always a pleasure to talk with my good friend Greg Diamond. I've known him for so long, 10, 15 years. It's been a long time. One of the best traders I know, one of the most knowledgeable, disciplined traders I know. And he gave us a ton of ideas. We talked about Nvidia, NVDA. We talked about AMD. We talked about the finance ETFs. and this whole arcing topping process that is going on in those tech companies and and in the finance companies too and the finance he gets at that by trading XLF and KRE right so it's a big process it's encompassing software big tech uh big finance that you find in the XLF ETF and then the smaller regional banks that you find in KRE which he told you are more volatile could be an interesting trade in there somewhere and we talked about commodities, silver, gold. He kind of sounded fairly constructive and fairly bullish, you know, maybe on those, but he's keeping an eye on them. Uh, and we talked about copper. He likes copper. I love copper for the long term, and I do like silver and gold as well. I'm much more patient on silver. Greg would be trading in and out, and I would be just a patient long longer term holder. Um, and he of course trades the more volatile ETF AGQ in silver. And the way that thing is designed, you never want to hold that for the long term. That is only for short-term trading. And Greg can tell you how to trade it. So, wow. Um, I'll tell you something. Nobody delivers trades like Greg Diamond. Uh, and and you heard his two the two current ones that sounded really best to me were short XLF and short um IGV, the software ETF. That those that's the big trend, the financials and software um on the short side. And remember, you can tune in on March 10th and see Greg doing a webinar online and he will give you yet another ticker symbol, another trading idea that he has currently researched for you. Even if you're not a trader, you'll want to tune in and you can click the link below to do that. Okay, so another great talk with my friend Greg Diamond and another great episode of the Stanberry Investor Hour. I hope you enjoyed it as much as we did. And remember, subscribe, like, and sign up for our free daily elet. Opinions expressed on this program are solely those of the contributor, and do not necessarily reflect the opinions of Stanbury Research, its parent company, or affiliates.