_200 SILVER This Year_ Bottom Is Likely In _ David Hunter

That is correct.

It may be hard for people to think of this as a melt-up given what we've seen in the last week, you know, particularly in the AI stocks and the semiconductor stocks and the Nasdaq.

Um, but I d- I do think definitely we are, we are, um, not, we have not seen the highs.

We have much higher highs coming, uh, between now and the end of the year, probably between now and the election.

Um, and, um, what you've gotten here is I think, particularly in the tech area, uh, a group that had unbelievable runs, particularly the semiconductor stocks.

And you then with that kind of a run need to shake, shake people up, shake people out, and you get, you know, a pretty sharp correction.

So if it's steep going up, it's gonna be steep coming down, and it doesn't take very long when you come down as fast as they have.

And I think, uh, given what's going on today with, uh, the Fed meeting and, and Kevin Warsh speaking right now, uh, and what the markets have, uh, how they've responded to the meeting, um, I think we are, we are probably in the midst of a reversal here.

I think the correction, you never know until afterwards.

It's a little premature to say, but there's a decent chance that we saw the lows today and the consolidation, the correction, and, uh, we'll be heading up from here.

Uh, when it comes to the precious metals, a lot of people are concerned about precious metals falling further from here.

But it sounds like with the Fed meeting and them holding, uh, interest rates steady, you're thinking that this is probably pretty close to the bottom in all the markets.

Yeah.

I, I do think it's easy to get bearish here, uh, given the correction we've had this l- past, I guess, probably the past week, um, particularly in the AI stocks and in semiconductors.

Um, but, um, I view it as just a correction.

Uh, people have to remember where we came from.

You know, the things that are up the, the most are correcting sharply.

And what we're seeing here is good old-fashioned rotation.

We've seen things like financials act very well here in the last couple weeks and particularly the last week.

Um, they're basically at their highs, while semiconductors have corrected sharply and, and the AI stocks have corrected sharply.

And of course, what follows a move like that is a narrative, and the nar- 'cause the narrative doesn't lead it.

The narrative basically follows it.

Uh, and what you've got people now very nervous saying is that AI, you know, the AI capital needs are so big, and we're seeing companies, you know, like, uh, Alphabet and Meta and, um- Uh, Amazon, uh, Microsoft, that we're seeing companies that historically had pristine balance sheets, no debt on their balance sheets, now getting into situations where they have to go to market to raise capital.

Um, and they, well, you know, where they were very cash flow positive, now they're, they're, um, very, you know, net negative capital.

And so that's what people worry.