Yen action headwind
A short term small correction is due imo.
Started by
tria
, Jul 10 2016 02:53 PM
30 replies to this topic
#22
tria
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Posted 12 July 2016 - 03:11 PM
My model suggests strength by weeks end.
A Bank run in Italy rumor is not to be easily discounted knowing that when a Bank rumor starts,
what it means like the Greek rumor last summer.
I just did the following as a result.
Bought GCQ16, strike 1360 Calls to open.
Sold GCQ16, strike 1300 naked Puts to open.
Premium paid about $3.00/oz only.
Position size fairly big for me.
Be seeing you,
-tria
Edited by tria, 12 July 2016 - 03:19 PM.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
#23
tria
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Posted 13 July 2016 - 03:55 AM
Small in price and time Gold correction concluded near the close yesterday.
Yesterday's lows should not be revisited today imo and/or for the rest of the month
for that matter but if they are even more buying is waiting.
Block traders (presumably the smart money) were buying GLD heavily yesterday.
Yesterday's put/call ratio near 1.00
It all looks good now and when it looks so good, I start worrying.
Ideally near or > $1,400 by this Friday if model continues in tune as it was early this week
and up to today.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
#24
tria
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Posted 13 July 2016 - 07:33 AM
Looking with a microscope suggests that ideally today and tomorrow Gold tades sideways
to slightly higher from the current 1,340 level and Friday becomes a strong day by default.
By next Monday it could be over in the short/medium term but at what price level is the Jocker!
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
#25
tria
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Posted 14 July 2016 - 06:30 AM
Gold had to test apparently the Far East 7/13 lows below 1,230.00
Think it should hold.
More buying in Silver below 20.00 if offered to bring it up to near Gold's exposure.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
#26
tria
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Posted 14 July 2016 - 08:47 AM
They refuse to offer me Silver below 20.00 today and time may be be running against me.
Intermkt positive divergence, Gold lower low than earlier this week, Silver no new low so far.
Gold hourly rsi positive divergence till now.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
#27
Smithy
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Posted 14 July 2016 - 09:33 AM
Tria, I'm curious. You still looking for intermediate high on Monday, i.e. down from there for some weeks?
#28
tria
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Posted 14 July 2016 - 10:50 AM
Tria, I'm curious. You still looking for intermediate high on Monday, i.e. down from there for some weeks?
I am curious too Smithy how thing may shape up next week after today's early weakness.
I have to see if and what kind of strength may/should come by late tomorrow.
Better to decide after tomorrow if a change of view is warranted.
Edited by tria, 14 July 2016 - 10:50 AM.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
#29
tria
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Posted 17 July 2016 - 09:24 PM
Odds favour sideways action for now due to the end of the month GDX, GLD, SLV etc., opex.
I dare to suggest 1320-1350 range.
PS
I was just filled on my remaining Silver buy orders below $20.00
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
#30
tria
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Posted 19 July 2016 - 09:39 AM
Big time ETFs options premium 'eating' since 7/14.
When they have had enough of it, odds favour first a bit higher and then lower I think and FWIW.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
