WEAPONIZE THE PERIODIC TABLE (Guest: Tony Greer)
Speakers
Tony Greer
— Founder, TG Macro
Summary
Tony Greer discusses his trading philosophy, past wins and blow-ups, and current market views. He is bullish on oil due to permanent Strait of Hormuz impairment, sees gold as a core holding, and favors rare earth metals. The hosts debate semiconductor froth, crude oil dynamics, and potential Fed hawkishness.
- Tony Greer shares his trading history, including a 10x account in 2008 that he later blew up.
- He highlights the 2022 trade of short tech / long natural resources as his proudest.
- Oil is expected to grind higher regardless of peace deals due to permanent supply disruption.
- Gold is praised as a core holding with central bank support and low volatility.
- Rare earth metals are identified as the likely winning sector for the year.
- Semiconductors are viewed as a frothy bubble vulnerable to higher rates and inflation.
- The market is seen as bifurcated with consumer stress from high oil prices.
- Potential Fed hawkish surprise is discussed but not a trade.
Trade Ideas
Oil higher on Strait impairment.
The Strait of Hormuz is permanently impaired due to the Iran conflict, and even a peace deal will not fully restore oil flows. Supply constraints, draining SPR, and maxed-out refineries will force oil prices higher, potentially spiking to $200. The flat price is suppressed by speculative disinterest, but physical tightness builds. He is long energy stocks and expects oil to grind higher.
Gold is core holding.
Gold is the core holding, supported by central bank buying, low volatility within an uptrend, and its role as a store of value. He uses gold as his 'bank' to rotate into other trades. Price consolidation above $4,500 is healthy, and the long-term bullish narrative remains intact.
Rare earth metals outperform.
Rare earth metals will be the winning sector for the year. China has weaponized the periodic table, resource nationalism is rising, and the sector has already outperformed within mining. Scramble for supply and geopolitical tensions support further upside.
Up Next
This The Market Huddle video, published May 23, 2026, features Tony Greer discussing BNO, GLD, REMX. 3 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Tony Greer · Tickers: BNO, GLD, REMX