To my amazement (not really shocked at all actually) the cancerous $US is out of breath again, and sitting upon its crutch at 73.
And the while Gold got clocked last night, and silver-well we know exactly whats going on there now dont we?
Here are my thoughts for the day and the trades I'll make:
If the $37 sticks on (SLV) on spot holds $38 decently, I will sell 50% of my PUTS. I will then wait for the dollar to roll over, and at that time buy some CALLS, and if I really find myself seeing what I need to see, I will BUY some more phyzz here as well.
I have no idea how these next two margin hikes will spread the contagion of sell orders, but $38 seems like a fair 50% fib retracements to me, and I feel comfortable enough to exit half of my bearish PAPER position, and start using the proceeds for physical.
IF, we cant hold $37.50 (spot)....$34-32 will be short lived. I would be shocked to see if break this level, unless Gold rolls over and loses 1500 as well.
Lots of factors today...goodluck. If you like gambling, pick up some ounces here at $38 for shits and gigs.