My Lions, Watch For Both SLV and GLD To Fall Under Pressure Here. By Gregory Mannarino
Last week on this blog, and as recently as yesterday I posted to this blog that we should be expecting a US dollar rebound.
This morning in early trade, the US dollar is in fact trading higher (although this could turn as the day progresses) however, I still believe the dollar will trend higher here for a short period of time.
It also appears to me at this time that the paper derivatives of gold and silver, both SLV and GLD, are going to fall under pressure in the short run.
*There is generally an inverse relationship between what the US dollar does, and what the paper derivatives of gold and silver do.
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One could capitalize on what I believe is going to be a fall in the price of SLV and GLD, by buying puts here.
Gregory Mannarino @marketreport
what puts would you recommend?
Out of the money, 3 months out.
SLV target is 14.43. If you can't remember that do as I always "suggest." Tattoo the number on your body somewhere and refer to it as often as necessary. :-)
Thanks alot, Greg. I was doing just fine with my SLV short til you had to ruin it. :-) I'll fixit! :O
I think is has the potential to fall further, I still have a small short position open.
Oh, I'm gonna rock SLV's world, Greg. :-) I gave you credit for a real good fill on your Q's long btw. I checked pricing within a couple of minutes of you posting your trade. Only 2 contracts had traded at that point and the Q's were already well off the low but it's "OK"...I'm trying to give you every advantage possible as you definitely need to post a winner soon. GOOGLuck with it. I posted the otehr side of your tade at the blog where I monitor your picks but I will be taking a short position in teh Q's as outlined in the new blog I just posted. Thisn gonna hurt BIG time, Greg and I am actually a tad surprised that you are oblivious to it. If it wasn't for the Russel 2000 I would venture to say that this Fri will be "black" Fri.
We shall see.
I'd like to see at least today's SLV high of 15.58 get taken out. It'll "probly" coincide with the overall market crash and burn. As you "properly" stated...we shall see.
This comment has received a 0.09 % upvote from @drotto thanks to: @banjo.
I'm reading your posts in reverse today Greg, lol, but you're right on as usual brother. Silver got smacked, then recovered and is now under pressure just like Gold. The Dow transports you nailed. Really appreciate you brother!
Greg, upvote and resteemed. Always deserved. Cheers.
Right on the money, I'm waiting before I buy more metals
I hope it continues high for some time, while enjoying my summer with my daughters ...
I Just found this article in the timeline of economist Paul Craig Roberts "BRICS countries strike fatal blow on US dollar supremacy" http://www.pravdareport.com/world/asia/04-08-2017/138335-brics_usa-0/
Very useful information @marketreport your suggestions really helps us alot to trade in a profitable way.
Wow greg nice information about SLV and GLD we should capitalize on it.
i dont trade in slv and gld but ur prdictions on dollar tell us and all traders many things bcz dollar is main on all market and only dollar predicition is many helpfull for us greg sir
Thanks for giving your take on SLV and GLD.
I will short some calls to hedge my long gold holdings.