This Week...June 4 to 9, 2017
This week should be another rather uneventful week other than I think the trends of the markets are establishing themselves for the long run.
I was wrong for the first time in a while (as in years) for gold. It crossed my 1271 level and so I exited my short. Done. At the moment as long as the Dollar is in a long term down trend we should be able to get the precious metal to rise. It won't happen over night but I suspect in time it will rise back to at least 1570 area. So I would be looking to buy the dips. I am presently long and will be for the forseeable future.
Crude should rally strongly from this area. Here is where you risk is lowest for a swing high. I am long and have been long since last week. The 47.12 t0 46.60 is your line in the sand. Even if it goes through here I am looking for it to rally strongly. So don't be afraid to reenter if it does. I expect it to hit 55.00 before too long. Then it should collapse again down.
This is simply sideways pricing is all. There really is no movement in the markets but as long as we are nimble we can capitalize on moves that larger funds would have a very hard time getting in or out of.
Treasuries rose a bit last week as I told you they would but from here it is somewhat risky as the previous high was breached clearing the stops. I do expect it to head back to its previous high but that will take a while.
It really doesn't have to do with the poor NFP that was printed last week (although that doesn't help) but rather the moves that have been in place for a while are now beginning to gain some traction and sentiment is shifting a bit.
I will be posting more as the week unfolds but that is my view for the time being.
I was wrong for the first time in a while (as in years) for gold. It crossed my 1271 level and so I exited my short. Done. At the moment as long as the Dollar is in a long term down trend we should be able to get the precious metal to rise. It won't happen over night but I suspect in time it will rise back to at least 1570 area. So I would be looking to buy the dips. I am presently long and will be for the forseeable future.
Crude should rally strongly from this area. Here is where you risk is lowest for a swing high. I am long and have been long since last week. The 47.12 t0 46.60 is your line in the sand. Even if it goes through here I am looking for it to rally strongly. So don't be afraid to reenter if it does. I expect it to hit 55.00 before too long. Then it should collapse again down.
This is simply sideways pricing is all. There really is no movement in the markets but as long as we are nimble we can capitalize on moves that larger funds would have a very hard time getting in or out of.
Treasuries rose a bit last week as I told you they would but from here it is somewhat risky as the previous high was breached clearing the stops. I do expect it to head back to its previous high but that will take a while.
It really doesn't have to do with the poor NFP that was printed last week (although that doesn't help) but rather the moves that have been in place for a while are now beginning to gain some traction and sentiment is shifting a bit.
I will be posting more as the week unfolds but that is my view for the time being.
No comments:
Post a Comment