Took your call on a push up tomorrow… Hopefully he does the meeting during market hours so the puts will be cheaper, with a push up… Silver’s still getting hit right now though… Making me wonder if he talks before the open
Exactly… I do think that commodities will be the only safe thing to get into (long of course). The stock market should go up huge from a 40% devalued dollar and/or QE3… but panic could set in and make it go down. The safe bet is long gold and silver.
As fuked up as it sounds, its looking like your long-term October meeting is lining up perfectly… I guess we better be prepared for one hell of a halloween. I think the best play would be to long commods… If they were to devalue the dollar, two scenarios could occur.
A. The dollar crashes, the market spikes… Generally, when the dollar goes down, the market goes up
B. Dollar crashes, people panic, and the market crashes as well.
Only certainty would be that commodities would go up, at least, to the value of the devaluation, likely more. And they would be dirt cheap if they delayed it until then
Saw the same, thought i was missing something….was about to close my slv put just in case he spoke at the 2pm time area… Just going to close, and play it safe, until he speaks then. Can never be too sure on the crap they’ll pull out
The last 2 days they have been simply working off the overbought conditions on the 60 minute, 2 hour, and 4 hour charts. By tomorrow they will have reset them and this will allow another push high after Bernanke speaks (or before he speaks). I don’t think it’s going too much farther but I don’t see any selling until we first go up higher.
SPY Bull flag and channel top:
http://niftychartsandpatterns.blogspot.in/2012/08/spy-bull-flag-and-channel-top.html
Took your call on a push up tomorrow… Hopefully he does the meeting during market hours so the puts will be cheaper, with a push up… Silver’s still getting hit right now though… Making me wonder if he talks before the open
Exactly… I do think that commodities will be the only safe thing to get into (long of course). The stock market should go up huge from a 40% devalued dollar and/or QE3… but panic could set in and make it go down. The safe bet is long gold and silver.
As fuked up as it sounds, its looking like your long-term October meeting is lining up perfectly… I guess we better be prepared for one hell of a halloween. I think the best play would be to long commods… If they were to devalue the dollar, two scenarios could occur.
A. The dollar crashes, the market spikes… Generally, when the dollar goes down, the market goes up
B. Dollar crashes, people panic, and the market crashes as well.
Only certainty would be that commodities would go up, at least, to the value of the devaluation, likely more. And they would be dirt cheap if they delayed it until then
September huh… yeah right! Once September comes it will be delayed until October… just in time for the Legatus meeting! LOL!
http://www.bloomberg.com/news/2012-07-31/fed-seen-forgoing-next-round-of-asset-purchases-until-september.html
Saw the same, thought i was missing something….was about to close my slv put just in case he spoke at the 2pm time area… Just going to close, and play it safe, until he speaks then. Can never be too sure on the crap they’ll pull out
I don’t know what time?
http://federalreserve.gov/whatsnext.htm
He’s speaks at the usual 2pm?
The last 2 days they have been simply working off the overbought conditions on the 60 minute, 2 hour, and 4 hour charts. By tomorrow they will have reset them and this will allow another push high after Bernanke speaks (or before he speaks). I don’t think it’s going too much farther but I don’t see any selling until we first go up higher.