Joel Elconin – Pre-Market: Market Melt Up Continues While Rate Cuts Are Moved Forward – S&P 7,000?
In today’s pre-market daily editorial, we’re joined by Joel Elconin, co-host of the PreMarket Prep Show. Click the link in the show notes to listen to Joel and his team for daily market conversations, as well as a link to the Stock Trader Network.
This week’s discussion centers around the Fed’s latest rate cut and updated dot plot, projecting two more cuts this year and one in 2026. Despite shifting policy, markets continue to grind higher toward all-time highs.
Joel shares his perspective on:
- The Fed’s decision and why markets keep shrugging off “bad” news.
- The historical trend: markets rising after Fed cuts near highs.
- Whether today’s rally is still concentrated in big tech or broadening across small caps, biotechs, gold, silver, and other sectors.
- Key catalysts ahead: quad witching, jobs and inflation data.
- Why hedging remains limited even with volatility upticks.
- A closer look at Intel (INTC) following U.S. government backing and Nvidia’s $5B stake.
Joel also outlines his simple but disciplined approach to market levels, why he’s not placing resistance targets, and what could derail this momentum heading into Q4.
Stocks discussed:
- Intel (INTC)
- Nvidia (NVDA)
- Broader small-cap (IWM), biotech, and precious metals trends
Click here to visit Joel’s PreMarket Prep website.
Click here to visit the Stock Trader Network.
For more market commentary & interview summaries, subscribe to our Substacks:
- The KE Report: https://kereport.substack.com/
- Shad’s Resource Market Commentary: https://excelsiorprosperity.substack.com/
Investment disclaimer:
This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
It’s looking like it is going to be a record ATH weekly close in Gold and 14-year weekly high close in Silver today.
Importantly, the average Q3 prices for both gold and silver are going to be the highest on record, so the Producers are literally printing money here, and the Developers should witness their project economics soaring when calculated at spot prices.
Very nice to see the Precious Metals keep ratcheting higher, to keep a bid under the PM stocks.
30 mins until close and things looking good across the board in my account. Seems like a good group activity going on. Even Southern Silver got some mojo.
Currently more than covering first 4 days of week. That should keep the snowball rolling down the hill.
Now if I would have checked my watch that I don’t wear too much, I would have noted that it was an hour off. Still an hour to go and holding relative controlled … which leaves either more run up in the last 30 min or not. Onward ….
We referenced the Nvidia strategic stake in Intel (INTC) on this call with Joel, after the US government has taken a stake in Intel as well.
Here’s an interesting article from QTR on this topic and what it could potentially portend:
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Intel Reminds Me Of Apple In 1997
Quoth the Raven – Substack – Sep 18, 2025
“Nvidia’s investment in Intel hearkens back to Microsoft taking a stake in Apple back in 1997. Since then, Apple stock is up about 145,000%.”
“Back in August 1997, Apple was on life support. Its market share had cratered, it was bleeding cash, and most analysts thought bankruptcy was inevitable. Then came a lifeline: Microsoft announced it would invest $150 million in Apple. The deal wasn’t just money—it included a commitment to keep developing Microsoft Office for Mac, a settlement of ongoing lawsuits, and a public show of support from Bill Gates himself.”
“In the 45 year chart of Apple stock below, it looks like it was at $0 back then because, basically, it was. Apple traded at a split adjusted price of $0.16 per share.”
At the time, Microsoft was the undisputed king of the software world—worth over $200 billion—while Apple’s market cap had collapsed to around $2–3 billion. Microsoft was roughly 100 times Apple’s size. That imbalance made the partnership look like charity, and Gates was even booed when his face appeared via satellite at Macworld to announce the deal. Hell, I was absolutely crestfallen to see it as an Apple fan my whole life. Gates was my sworn enemy, and it felt like he had won.
Most people thought Apple was finished. But that investment gave Steve Jobs the runway to rebuild. First came the iMac, then the iPod, and eventually the iPhone. Since that moment, Apple stock has risen roughly 1,450-fold, making it one of the most valuable companies on earth. Of course, that transformation took nearly 30 years, but it all began with one bold vote of confidence from a much larger rival.
“Fast forward to 2025, and Intel finds itself in a strikingly similar place. Once the undisputed king of chips, Intel was the world’s most valuable company at the peak of the dot-com boom in 2000, worth over $500 billion. Today, after two decades of missteps, it’s worth a fraction of that—around $140 billion. Its rivals AMD and TSMC have eaten away at its dominance, and its reputation as the ‘Intel Inside’ innovator has faded.”
“Enter Nvidia. Nvidia’s $5 billion investment instantly makes it one of Intel’s largest shareholders. The two companies will co-develop chips for PCs and data centers, combining Nvidia’s GPUs with Intel’s CPUs and packaging. Unlike Microsoft in 1997, Nvidia isn’t 100 times bigger—but it is close to thirty times Intel’s size today, with a market cap hovering near $4.2 trillion. In other words, it has the same role Microsoft did: the giant throwing a lifeline to a fallen icon.”
https://quoththeraven.substack.com/p/intel-reminds-me-of-apple-in-1997
Uranium Sector Update: URA, URNM, UEC, UUUU, EU, URG, DNN, and NXE
Excelsior Prosperity w/ Shad Marquitz – Substack (09-19-2025) #nuclear #charts
https://excelsiorprosperity.substack.com/p/uranium-sector-update-ura-urnm-uec
You are like the Deepseek of the KER, compiling available info and presenting it here gratis, thank you.
It seemed like a good time to do a uranium update. Thanks Terry.
Week End Possibility: Could finish up as Emo and Magna both up before Noon.