Conceptually, no need to play

    GLD filled yesterday gap

    Posted by chartboy on 31st of Mar 2021 at 02:12 pm

    Conceptually, no need to play this macro trade via GLD, to Matt’s point, probably best not to unless you already trade it a lot. Instead, at turning points in the dollar, the correlated presumption is that rates are probably also making a short term top and that equities, and especially rate sensitive equities like high growth tech, are going to benefit. So...instead of GLD you go out and take the Semi’s and the QQQs right after the open hand over fist...(which is exactly what is happening today). 

    BTW May 21 2021 GLD

    Posted by retirefire on 8th of Apr 2021 at 04:12 pm

    BTW May 21 2021 GLD 150 Call up 33 pct. in about a week. (paper trade)

    Just finished posting about how

    Posted by chartboy on 31st of Mar 2021 at 02:39 pm

    Just finished posting about how instead of trading GLD to take advantage of the macro patterns in the dollar/rates/metals markets I was describing, fast money could go out and snatch tech and semis off the open....and ten minutes later John Murphy mails out the following....(this is not stuff I make up off the top of my head. Lol)

    TECHS ARE HAVING A STRONG DAY... Technology stocks are the day's strongest sector which is helping boost the Nasdaq market. As a result, the Nasdaq is leading today's rally. Chart 1 show the Invesco QQQ Trust trading 1.8% higher today and nearing a test of its 50-day moving average. The QQQ may also be heading for a test of a small "neckline" drawn over its March highs. A close above that resistance line could push prices closer to their February high. 

    Chart 2 shows the Technology SPDR (XLK) already trading above its 50-day line and heading toward a test of its March highs. The XLK is the day's strongest sector. Semiconductors are helping lead the XLK higher. Chart 3 shows the VanEck Vectors Semiconductor ETF (SMH) trading at the highest level in a month. My Friday message showed three chip leaders to be Applied Materials, Lam Research, and KLA Corp. All three are having another strong day.”

    Learned today and made money.

    Posted by retirefire on 31st of Mar 2021 at 03:03 pm

    Learned today and made money. Great board

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