For the last 2 hours Europe and the U.S. Funds are cashing in their chips on all longs..
This includes commodities,metals and related stocks… Risk off!!!
The big game will be after today’s Fed announcement…There is a lot of anticipation
involved with this release. Volatility can increase dramatically.
Today is opportunity day. You just never know when you get a day like the flash
crash, so I am compiling a list of off the market
orders in a few instruments… You just never know. If you at least know where the really juicy
levels are you’re ahead of the game if something unexpected happens. I am not writing these levels
to scare anyone but to prepare you with a cheat sheet for reference.
For all I know it can be 100% risk on after the announcement
I’d like to pick up some Gold between 1260-70 ( app 124 GLD)
Silver is more difficult. It could hold right in here at 24 or take out all the long term sell
stops around the 22.90 level and show you 22.25….ridiculous would be $20….I’ve been around too long
to discount ridiculous! Silver should only be played by screen jockeys!
If the Fed announces as expected today’s lows in the Gold and Silver should hold.
AAPL…265-275 would be a place to pick some up on a panic
Goog…548-557
Spu….1125-30 on the downside. Long term buy stops are over 1216. 1245-60 is the big area on top.
We live in a risk on risk off world. Knowing the big macro levels coupled with your short term technicals
are critical for survival..The afternoon will be all about price action. ( Where the breaks hold and the rallies fail)
AAPL…265-275 would be a place to pick some up on a panic
Goog…548-557
Spu….1125-30 on the downside. Long term buy stops are over 1216. 1245-60 is the big area on top.
We live in a risk on risk off world. Knowing the big macro levels coupled with your short term technicals
are critical for survival..The afternoon will be all about price action. ( Where the breaks hold and the rallies fail)
The Cool Aid stand is up and open for business…
@ 2:30 Cst stock traders should beware the short squeeze!
A close under 129.18 in the 30 year is a major breakdown on the long term charts.
This means higher rates and inflation will be in vogue for the next quarter. Some of you have nibbled at the TBT.
A close under this level in the bonds and you should be all in ( long TBT)
A causal effect of rates backing up can be a dollar turn….Eur/yen is the least risky way to play a turn.