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Silver on the squeeze, Trump flippin' burgers - Market Map from James Whelan

Written by James Whelan | Oct 21, 2024 4:55:39 AM
New job, new firm but the same Free Whelan. Thank you for your continued support and keep unlocking valuable insights into the global market every week with me!
 
 
A few things are on the boil at the moment. Scalare Partners’ IPO details went out y us earlier today and I’m pretty keen on this one. Sensible, well-run company investing in the type of tech you wish you had in your portfolio.

 

There’s a prospectus and more (which was on the email we sent out) but for anyone wanting to register your bid over $2000, we’re collecting names now.

 

Last week we had an opportunity to present itself and a company in the BNPL space, Ovanti Ltd, putting on a new CEO, former US CFO of Zip Money Simon Keast.

Either way, the stock started rallying on Thursday and we were active in the market. It’s since up over 500% since then and we’re happy to see the run continue with higher back-of-the-envelope vals being done based on the KPIs of the CEO. Stay across this one.

 

Another ripping podcast out by Heath Moss and myself, with the market paddling along and commodities showing a mixture of demand and shortage, surplus and weakness all at once.

Listen here: we put our top four commodities together into the best picks for 2025 and I’ll have a note out soon with the details behind them.

 

We have H2X on the road (pun intended) later this week on their path to IPO so if anyone is looking for a chat with the makers of the only hydrogen 4x4 on the planet please click away here

Company Highlights:

  1. Georg Zembacher from Toyota joins the board at H2X Global
  2. The first Warrego Ute delivery to Renova marks a key milestone
  3. H2X targets London IPO to fund European expansion

 

Now markets…

Just a month ago I wrote about a trade idea on Silver. Looked good and smelled good. Off the back of gold’s rally, it had all the hallmarks of a good one.

Breaking news: it was a good one.

Readers would note we recommended it on the breakout of the blue line and it’s currently well past that.

  
 
Source: TradingView
 
 

Something is going on in a big way in silver markets. Maintain.

This morning I saw Donald Trump working the window at a Maccas drive through. I didn’t think I’d have to ever go back to commenting on how this affects global markets but the former and next President shifting fries has a direct link to the 10 year yield rallying. The 2 year as well. It’s inflationary. Market friendly too.

 

 

Source: Reddit

 

We now have a full sweep and the presidency as our base case. Act accordingly.

Note: I can’t stand the guy. I was commenting to our new starter that advising in the days of Trump was painful. You’d have a plan for the day and wake up to some bat-crazy Bloomberg message about the US buying Greenland and that would be your day ruined. Good luck, kid.

Seasonality…

 

Source: Bloomberg, BofA US Equity & Quant Strategy

 

I think with the reval in rates on a Trump win expect small to get a bit of a touch-up. This seems reasonable.

Finally, we’re in the thick of the Halloween silly season. This wins so far.

 

Source: Reddit

 

“Nothing from my end this week”

Apologies for the short note, lots going on as usual.

The market continues on its merry way, stay tuned for a commodities note.

 

All the best,

James

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