 We have a few folks interested in catching a falling knife here. There is a real risk that the metals could left translate, meaning that we have a failed intermediate cycle happening. We just don't know and should stay on the sidelines until this situation resolves itself. Before re-entering any metals, we will need to wait for a swing low at the very least. For starters, the Dollar looks to have bottomed. We were expecting the dollar to drop a bit further down to 88 before a final cycle bottom but now it would appear the dollar is on day 2 of a new daily cycle. This will make long positions in the metals harder.  We are all out of metals now but we are still vulnerable with stocks. We are advising that you tighten stops on NQ positions to 12900 and RTY positions to 2050 or to just exit your positions entirely and move to cash.
Comments
|
This PageThe Speculation page is used for educational purposes and to talk about our opinion on trades and what is going on in the market. All trade recommendations are made in "The Pit". This is also a blog page where you can ask questions, post your thoughts, or ask for help. Be sure to use an anonymous name. If you have any questions feel free to reach out to us via email. Archives
May 2021
|
RSS Feed
