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David Bird went long on precious metals, highlighting a strong preference for gold and silver.
He pointed to his position in Silver Miners ETF SLVM, noting that he entered when it traded around $32.50, and is monitoring for a potential breakout.
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Bird has previously examined S&P 500 cycles, noting that 18-year market peaks have not resulted in above average returns over the past century, according to one of his earlier reviews. He has also called attention to recent silver market swings, questioning investor sentiment and discipline in the sector as discussed in a separate analysis. These viewpoints provide context for his increased exposure to gold and silver.