Heavy Metal Friday
The Eurogroup meeting is starting in a few minutes and I hope that it won’t blow too many of my setups out of the water. I’m already seeing a lot of talk of why Draghi may jawbone the Euro down, which is why I’m glad that I made several runs to the ATM over the past few days (meaning a short squeeze may be coming).
Anyway it looks like it’s going to be a heavy metal Friday folks! Gold is back down for a bit of mean reversion and I’m liking it long here.
Similarly silver may be a long here – I’m taking out a teeny weeny position with a stop below 15.250.
So yes, the Euro may drop lower today but in general I think the Forex specs are trying to call Draghi’s bluff. I am short a small position but expect to be long here at the 100-hour SMA or 1.118 – whatever touches first.
But we’re just getting warmed up. I’ve dug up the motherlode on the Forex side this morning – and I got futures goodies as well. Please meet me in the lair for more:
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