China Hike rates. We buy!

Good morning.  Yesterday, China hiked interest rates again by .25 bps – something they’ve said they will do going forward to avoid runaway inflation.  So no surprise.

Gold and Silver are getting their groove on now because of renewed fears of inflation.  China’s trying to avoid the problem that Big Ben is creating, runaway inflation with a devalued Dollar.

Dollar created a swing high yesterday.  It might just linger here for a while, but this is a sign of a potential turn south in the dollar so be aware of this fact…….and consider having at least some SLV or GLD on the books to protect cash.

Meanwhile, the futures are down 5 this AM, so it must be about time to buy.  10 point ranges, new highs.  Rinse, repeat.

Pivots……

  • R2-  1,328
  • R1-  1,325
  • PP-  1,313
  • S1-  1,316

Trade ’em well and trade the extremes.

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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!
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