(VIDEO). Gold, Silver, Cryptos, Crude, Stocks, All Rebound On Weak Dollar. By Gregory Mannarino
In the video below, I cover what we are now seeing across the spectrum of asset classes with regard to the weak dollar.
Gold, silver, cryptocurrency's, crude, stocks, are all rebounding-a trend which will continue on the back of the dollar's long fall.
Gregory Mannarino @marketreport
OK, Greg the answer to "why the dollar?" History tends to repeat itself. During the 2008 meltdown the very shortest term govmint treasury notes were being bought for a very short period of time at a negative rate. I already made my "buy buy buy!" call on TLT and as you can see, it is doing quite well. The dollar will be the other "safe haven"...just like in 2008. So that's it in a nutshell. Go ahead and laugh...I don't care. But if you do I am going to laugh right back becuase the other day you said >>> "If the dollar were to stage a 2 day rally, don't come at me telling me about how I was wrong!" But is that not what you just did with bitcoin and the rest of the cryptos? 2 day rally, now bitcoin back below $2300 and methinks this move will "shock!" you into possibly reconsidering your long term stance. I ainn sayin...I'm just sayin.
Also, another VERY important point you missed on your tutorial about taking losses that you missed is this. You can also make BIG mistakes by over-reacting to quick moves lower in positions where you have a long trade working. Look at your DIS trade as a prime example. You exited a very good long trade on a "mini" panic and got out pretty much right at the low with a .60 loss per contract. Now you are back in. Becuase of I.R.S. tax rules you wiped out your ability to write of that loss becuase you got back in to the same security before 30 days. Your new DIS calls need to move to 4.50+ now just for you to break even on your overall trade. That's going to be cutting it close if you ask me. In fact, I don't think those calls will trade that high.
I would have pointed this out earlier but I was "blocked" here since 10AM. I did initiate 2 new trades...with 1 more coming in USO if you'd like to check it out. have a GRRREAT weekend, Greg. But stay close to the compooter and let the movers do the heavy lifting as methinks you will see some things over the next 2 trading days that will cause you to update a few things. Good luck!
Yo, joejj, good to see you in fine form. I reckon we all learn from the point-counterpoint you bring to the threads. I tend to favour Greg's thinking as it coincides with mine, but... what the hey, trying to grow assets in an echo chamber could turn out to be on the bad side of a situation. An old fella told me once, "Wisdom is knowing which advice to take." Thanks for your thoughts, mate.
Thanks. As a "contrarian" I will always be there to give the view of the "1%ers"...the very few who take the opposing view. I only wish Greg listened to me about BBY. He's packing boxes right now not realizing he's getting crushed on his BBY trade. I "warned" him to stay close to the compooter. :-) Let's see if my take on bitcoin and DIS turn out to be the "correct" although "highly" controversial calls.
I'm really glad you drove the point home that this manipulation doesn't affect you in the least b/c you're holding for the "long term". Holding these assets are not trades. This is the key that I think so many people miss. I could care less how the dollar alternatives do on a day to day basis b/c I know where they'll be in the long term. Great video as always.
Greg the dollar has lost so much over the last 100 years why can't it go to zero, hope the move goes well cheers mike
Follow you everyday greg and appreciate the updates! Thanks for the support for the little people. BTW had trouble viewing the youtube link!
Nice rebounds for us. I am watching this Dollar everyday now cause I see the influence of the Dollar on everything else.
YOU HIT it out of the park with this one and Now is a very good time to buy silver
junk silver is selling at a 50% premium to the spot price. Not so good time.
I'm happy I bought a little over a half ounce of gold and 20+ ounces of silver a few weeks ago when they were both at their low points.
You've gotta take advantage of those times... hard assets are an addiction of mine. Gotta keep stacking ;)
You are absolutely spot on sir the driving force behind the dollar decline is the fed words and you are also tells a very nice alternatives of dollar. i wish you a good luck for your journey.
Holding the dollar long term ? You're better off holding toilet paper rolls... at least they do what they're supposed to do!
Nice work, i hope you grow fast on steemit :)
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