The Market Has Already Picked Its Winners for 2026 | Tony Greer

The Market Has Already Picked Its Winners for 2026 | Tony Greer – Forward Guidance

Market views

Bullish

GLD— Tony sees gold in early innings of a multi-year bull market driven by currency debasement and Japanese bond yield breakouts, with potential to reach $5,000/oz.
SLV— Silver joining the debasement trade with potential to reach $100-125/oz, though Tony expects volatility and better entry points ahead.
GDX— Gold miners positioned for potentially 150-200% gains in 2026 as the trade is just beginning while AI trade enters late innings.
XME— Industrial miners benefiting from onshoring of production and commodity bull market under Trump administration.
OIL— Oil bottoming in the $50s presents value opportunity with potential for exogenous shock to spike prices $20 higher.

Bearish

BTC— Bitcoin struggling despite perfect narrative conditions, with major whale selling $9B and failing to break higher after forming a six-point top.
ORCL— Oracle's blow-off top when Larry Ellison briefly became world's richest man signals AI trade exhaustion, unlikely to revisit highs in 2026.
NVDA— Despite resilience, Nvidia showing signs of late-stage AI bubble with head and shoulders pattern forming.

Not investment advice.