Sure looks like it is going to pop to me. High possibility for a pop here. Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
... for a .37/contract credit. Notes: Now that I look at it, the weeklies are super liquid. With 30-day at 47.8%, selling the strike nearest the 16 delta/45 days until expiry. That .37 ($37) doesn't seem like much, but as a function of notional risk, it's 1.99% ROC at max/17.3% annualized as a function of notional risk. Full position is the November 6th...
... for a .46/contract credit. Notes: 30-day at 52% with expiry-specific implied at 55.4%. Adding to my SLV (See Post Below) to establish a precious metals position in my IRA that is more scalable than GLD. I'd ordinarily ladder out here, but there's no December monthly. Break even: 17.54.
I've been following the path of gold ($GLD) and silver ($SLV), and how it's been relating to $DXY. Here is the path that I think it will take. First, I think we're going to get to the .382 fib (~1838), then we're going to go back up to the .236 fib (~1929), and then back down to complete the 50% retrace at the .5 fib (~1765). From there, we should move up...
Dear EW experts, please chime in with your insights for our members here. The count since the July take-off seems reasonable to me as one scenario. Appreciate everyone's feedback/insights. Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
A late "Week Ahead" post after a short road trip ... . EARNINGS: There aren't many options liquid underlying volatility contraction plays on tap this week. COST (35/38/6.8% (October)-10.1% (November) announces on Thursday after market close, but the volatility metrics aren't the greatest for a contraction play with 30-day at 38, the October monthly at...
Hit my target for this correction. Expecting ~20 right now. More bullish above ~22.85
Silver, SI1!, which made its wonderful rally recently, is now under serious headwinds. Not only is it technically challenged, it is also under pressure from a rising USD, and a strong Gold retracement. Breaking down from a triangle, with deteriorating MACD, and triggering a Sell signal, silver has a probable support around 23, else should check in at 19....
I am not sure what gold's long term outlook is, but it has been holding strong after the ATH rally. This morning was a really deep test, but the price rebound very quickly. I don't think there is much to worry about. Its normal to see these kind of tests to determine support. The fact it bounced back above support was promising. I would not be surprised if gold...
As I expect many others have commented on, this breakdown from the consolidating triangle bodes ill and represents the correction and reversion to mean I've been expecting in precious metals. I am still very bullish long-term but please watch the cup and handle pattern in gold to ensure it sticks, otherwise something more serious is afoot. What worry's me also is...
As we can see from the above daily chart of the Silver ETF, the nail biting pennant that has formed over the past few weeks and kept us all on the edge of our seat - along with GLD - has resolved bearish with todays move. Target is $18 - $19.
Previously projected on Silver, and called a top accurately, this is part two... the retracement. Perhaps much to the disbelief of many, and precisely the reason it would be happening. Technicals, particularly MACD, point to more downside risks. Looking for a lower low and to test 25.
Based on the strength of the US Dollar ($DXY) and the movement of gold, it looks like it could be retracing back to the $1765 area. $DXY $GLD $XAUUSD $XAGUSD $SLV
i definitely believe this is the time we have to sell silver for more Gold. it is struggling to surpass the green pivot point . Meaning i do not think it is going to lower the silver price any time soon. . Also it has already broken out of the red pivot point. i was looking at the overall silver analysis and i believe another bull market is potentially on the way....
Still leaning bearish and similar target as before
As you can see on the tremendous chart, silver will go and do things before it goes on a tremendous rocket ride. Some little gap resitances and supports being seen on the different time frames. Overall bigger picture is a symmetrical triangle which should resolve bullishly based on the SLV/GLD ratio chart. In the shorter term we may follow roughly follow the...