I’ve Got Soul but I’m Not a Soldier

Wanted to briefly take a look at today’s dollar vs. gold and silver.  Interesting in that the dollar was quite strong all day, but so were commodities, including metals.

Not sure what to make of it yet, but you can bet it has something to do with next week’s Fed announcement, which comes only a day after Election Day.  Things will get interesting, especially if the dollar begins to tip.  Will Bennie “shock” the system with more QE?  Will he consider, instead, raising rates?  Now that would be the path of maximum frustration, but I would be willing to bet it’s a better choice than 4 trillion in “shock” therapy.

King dollar is where the first signs of reaction will be.  And the relationships and reactions will show the way.

I am long some miners and today bought AGQ (Ultra Silver)

Dollar up….

….Silver up?

Stay on the sidelines if you are unsure, at least until mid week next week – and trade the extremes!

Advertisements

About thefront9

Independent trader with a flexible approach to the markets. Position trading, swing trading and day trading using Futures, Equities and Options. This site is intended to help others (and myself) see what I see and to stay true to the discipline of making trades at the extremes. Contrarian and TastyTrade addict! Living in Texas with my family, helping others and maybe playing some golf from time to time makes life busy and great. Add a little music and humor and that just about sums it up. Trade the extremes and manage risk.....always!
This entry was posted in Daily Pivots. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s