Lions! Expect A Short Term Dollar Bounce-Trade it! By Gregory Mannarino
Lions, tigers and bears!
It appears that the US dollar will bounce here.
It is certainly no secret, especially if you follow my work, that the US dollar has been plunging-almost in a linear fashion for months. Well, as we all know in this market no asset can continue a trajectory like this without a bounce.
I believe there is opportunity here to get long the dollar for a short period of time.
You might want to look at ticker UUP which is a dollar bullish ETF, I think buying calls here would be a good bet for a short term Dollar bounce.
Happy trading!
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Gregory Mannarino @marketreport
Thanks for the update Greg. I think you're right on the bounce but feel it will be short lived. The dollar will keep plunging and inflation will keep creeping higher.
the dollar is trash
The Federal Reserve Note Dollar is about to Bounce all the way to Hell...
I revealed my Pocket Change Theory to President Trump today...
@pocketechange
Nice call Greg. I'm watching the DXY climb right as I am reading this. Are you using options for your primary play or are you just going flat out long on UUP?
Always options.
BTW thought you might like to hear that I am a 2nd generation stacker as my mom could see the writing on the wall in 1971. So as a family we are our own central bank. I guess that makes my Mom the Chairman of the Board?
You like the dollar long here? ...even after a 2 day run from a UUP low at 23.77 (to be eggzact) that is going to get taken out? I hope you didn't close out your SPY short. SPY going sub 243.00. That's already been "promised" by the market itself.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=spy&x=54&y=11&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
listen to the strategy outlined on my vid. Sell the rips and flat the dips for last 2 weeks. Using 9-49 EMA as a trigger I exited on the NK deal. We broke out of the channel (by a little) so you have to trade it like you see it. Price = Truth, and Time is the ultimate keeper of that truth.
I've been watching your tutorials. Like I said initially, since I don't have a neck brace I refuse to trade in the "twitchy" style you advocate. Once UVXY breaks belowst 29.77 it will be a market short opp you can just hold for at least a few days. I'm more of a swing trader and NO! Price is not truth...quite the opposite actually. Time is the essence of all trade failures...which brings me once again to my decision to wait for the UVXY target below that the market has already told us needs to be breached...else you need a neck brace to trade...as I am sure you are finding out. :O
I started studying the market in 1974, initial mentors started teaching me in 1977 and made my first trade in 1982. There is nothing new under the sun for me. Nothing that I have not tried or traded in.
I "perfected" my system over a period of the past dozen years. I doubt you will find anyone who can consistantly post trades that generate 100%+ gains...like my next short entry in the Q's will generate. So, no, you haven't seen everything. You haven't even learned to monitor prices above and below that need to be breached as of yet. When you see UVXY break below 29.77 you can ask me how I "knew" of course.
I generate top line $840K a year. I think I do ok.
If you say so. :-)
I "prefer" to make "lotto" bets that pay off bigly until the final market highs come and the downside can be traded. I'm "expecting" my short in GDX forthcoming will generate a 1000%+ gain by Rocktober expiry. BTW, I'm sure you realize that if you generate losses and trade the same vehicle within 30 days the loss is not deductible. Greg also makes that mistake...ALOT!
very great
I couldn't find the chat room on Traderschoice.net ~ Can anybody direct me as to how to find this? Thanks!
Thanks again for a great analysis Greg. You are the MAN!
Once again, Greg...not the best Ty Ming by you but I'm wreckin the pullback UUP will now see will get GDX and DUST to my targets. So I bless your call. :-)
Once again? Lol. Did you get in on my QQQ calls yesterday? Myself, and the others who did are killing it today.
Maybe you are, maybe you aren't. Since you took your trades "behind the scenes" nobody really knows...do they? :-) I was "tempted" to short the Q's today but I am still being patient and waiting for my UVXY target to be breached. "Hoping" to get my gold short sometime today as it is the trade I am now focusing on. Why don't you tell us which strike and expiry you went with on UUP so we can all track your trade? :-)
You don't even have to tell me "price paid" as I will easily figger that out. Just tell me the exact UUP call contract you bought.
I talked about it LIVE at the time in my chat room on my website. Go there, scroll back, look at my posts. The end. ; )
Do I have to sign in to get to your chat? I prefer not to do that. :-) No biggie if you refuse to answer a simple question tho. UUP opened at 24.03 ..so a break below that means it's a losing trade. We'll see how long you hold the Q's trade. Not sure what you problem is concerning "disclosure," Greg. You should be "proud" of your trades...like I am. :-)
"figger" """ "you" "are" "an" "idiot" ":-)"
Troo dat, but I can trade like a cuddy mofo. Not skeeerd to disclose my trades either. I post em "live!"...including strike price, expiration, and even "actual" entry/exit prices. Something Greg has never done. :-) You are actually the idiot for endorsing a market commentator who refuses to disclose his trades.
ln summary: Long on QQQ (short on KKK...) ! Ok, that was just a horrible, awful, awful joke - Lord I apologize !!
I Don't Trust The Dollar ! I Just Brought More Silver 1oz Coins With The Gambling Money I Won From The Casino !