Moemntum Trading Commodities - Jim Tassoni
Trim, trail, and stay nimble as commodity momentum broadens while energy lags
Our monthly momentum check-in with Jim Tassoni, CEO of Armored Wealth Strategies, zeroes in on precious metals leadership, a tactical range in copper, uranium’s persistent uptrend, and why oil/gas remain the outliers. Jim lays out exact levels, how he’s trimming into strength, where he’ll buy dips, and the signals that would flip his stance.
Precious metals: “Trim & trail” into strength
Key insight: Momentum remains firmly up across gold, silver, GDX, GDXJ, SIL - but Jim is reducing position sizes as volatility rises (VIX moving through ~19–20).
Notable quote: “Protect capital first; compound capital second.”
Market levels: Watching gold ~4,160 as a sensible trim zone; looking to add near ~3,895 on futures if tested; long-term momentum intact above ~3,510 (weekly close).
Actionable: Keep core exposure, trim rips, add back on pullbacks; widen risk ranges while VIX stays elevated.Copper: building a position, trade the range
Key insight: Initiated long around $4.94/lb with a defined range.
Notable quote: “My range on copper right now is roughly $5.26 down to $4.81.”
Market levels: Trim into $5.26; exit longs on a break of $4.81; turn bearish only below ~$4.65.
Actionable: Favor range tactics - trim & trail near resistance, add on dips, avoid chasing breakouts until $5.26 clears.Uranium: trend rider’s market
Key insight: Long since early May; added on August pullback and continues to ride momentum.
Notable quote: “It’s been a buy-the-dip market since April.”
Market cues: Stops now ~47.66 on the primary ETF position; no break in trend.
Actionable: Hold core, trail stops, buy constructive dips; don’t overthink the primary uptrend.Energy (oil & nat gas): the outliers
Key insight: Natural gas short covered; still short crude from late September setup (~63.14 entry; stop ~66.42).
Notable quote: “Every bounce keeps getting sold.”
Market trend: Longer-term oil momentum has been bearish since mid-2024 in Jim’s framework.
Actionable: Favor sell-the-rally setups or sit out; allocate capital to stronger momentum tapes until trend evidence changes.Portfolio construction in a choppier tape
Key insight: With higher vol, Jim reduces sizing, trims winners, and keeps clear re-entry levels.
Notable quote: “Trim the rips, trail the stops, and reload when price respects your levels.”
Actionable: Treat pullbacks as planned buys, not surprises; let weekly trend levels dictate when to hedge or flip bias.
Listen to the full interview →
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