Lions! A Short-Term Bounce In The Dollar Is Likely, Let's Capitalize On It. By Gregory Mannarino
Later on today we are going to hear from the federal reserve regarding monetary policy, and I expect that Janet Yellen will maintain a somewhat dovish tone however I also believe that whatever she says has the potential to spark a short term bounce higher with regard to the US dollar.
It is certainly no secret that the US dollar has been in a screaming downtrend, (hitting a 13 month low last week), and at this point the dollar may be somewhat over-sold.
What I am watching specifically is ticker UUP, (dollar bullish ETF), looking for and waiting for a potential bounce higher. Remember, although the dollar fall is not over in my opinion, we can still capitalize on short term "bounces."
What I want for us to do is look for an opportunity, again short-term, to capitalize on a potential dollar bounce.
If and when I decide to pounce on ticker UUP, I will post it to my website Traderschoice.net (click here: https://www.traderschoice.net/money-page--stock-picks.html ) for all of us to rip it's face off...
Happy hunting my Lions!
Gregory Mannarino @marketreport
Thanks for the heads up Greg. The Fed will get their inflation one way or another.
Trump should appoint Gregory Mannarino for FED Chair! That way we would get market reports from the FED everyday. And, the dollar would be backed by silver.
man, it seems you are working too much!
Always. It's a curse in some ways. ; )
you need a holiday! and keep us updated with some photos! Those will also be appreciated!
Just take it slow and hit a BIG one, Greg. All you will need is one single trade where you catch either the "intermediate" term or long term top or bottom. You are now looking in teh right direction with the dollar. This time you will be able to hold your trade for more than a few trading days. Don't become your own banker...let the dollar become your own bank! :-) (Copyright: Joe...JUST Joe, 7/26/17)
Nice exit on the XLF trade. 15%+ in 2 trading days. Not bad. But let's go rip their faces off, buddy! :-) If you enter the dollar long too early...relax, I'll fixit! Here's a hint tho...this is a good chance for you to avoid chasing a rally for a change. :-)
Nice work brother! Thanks.
Holy crap, Greg! XLF down .20 now at Bitcoin ready to break out!...I mean, looking for interested parties! :-) I want you on my team when I take down Jamie Dimon. do you want to handle Lloyd Banklies at GS? Or would you prefer Warren "the" Buffoon. Take your pick...I'll still work the other 2, depending on your choice.*-) Everyone here, please upvote this so that I will have the steem power to continue to work with Greg. I'm affeared the STEEM price will take a major dumpf here soon. Upvote this spew and I will have the steem power to continue to work with Greg. :-) Hey, worth a try...no, Greg? :O
I'm not sure if that reaction in teh dollar to a new low (and gold and silver stocs to new highs) was a result of something Janet said. Nonetheless, "well played" in waiting for Janet speak. That was very good trader's intuition. Now we "know" the dollar targets below that MUST go bye bye "if" you are planning on making a trade in options contracts that are further out in expiry. Just a matter of patience and avoiding a trade that is already up a little off lows...going into news that may affect the price. This just created a better dollar buy opp...that's all. But the windup is...."if" you can be more precise in your Ty Ming a trade just before a major trend change it is like money in the bank but earning 10%+ minimum in 30 days. So no need to close a trade like that out. At least you are not advocating daytrading, greg. We likely wouldn't be on friendly terms right now if you wuz. I hate daytraders...don't you? :-)
No, nice work by you, Greg. "Looks like" I mgiht need to apologize as I figgerd your "stanglehold" on the bank rally would make Bitcoin rally once you released it. Bitcoin now at the low for the morning session...so "maybe" I was wron...wrooooo.....I can't even say it, greg. :-)
Hey Greg, !
Were you able to take a look at that Challenge?
I started a contest for those who want to check it out.
It is The Cryptocurrency Challenge and I have 4 Cryptos that people can bet on the Daily High for that day and earn 50% of the posts. (BTC, LTC, STEEM, & ETH)
Could you check it out?...I think you may like it.
https://steemit.com/bitcoin/@revelationquotes/the-cryptocurrency-challenge-bitcoin-or-for-high-close-date-of-26-july-2017-or-enter-today
@revelationquotes
Thanks man
Any of the LIONS or LIONESSES may be interested in this Challenge too.
Rock on!!! I am waiting and watching. I figured the USD was oversold, but you say she is going lower. This just means more opportunity to buy and add to the short position
Nice! Glad to see Greg is following along with my dollar spews. Now it's "mano vs Mannarino." Can I save the dollar as I "attempt" to crush teh cryptos? Can Greg save the dollar...and by doing so bring Bitcoin to its knees if he is proven right about his "buy the dollar!!" call? Will I be "forced" to save Greg from "attempting" to save the dollar via his "slightly Miss Timed" UUP buy call from Greg? Or is it he who will be forced to rescue my sorry ass? This could get exciting folks. :-) At least Greg and I now agree...as with teh title of my "buy the dollar!" blog >>> What goes dooown...MUST go UUP!! :-)
Awesome. Ill be watching
Was my BTC "sell here at $2595!" call the highest entry for anyone at your contest? I doubt anyone said BTC will see sub $2400 by teh end of the day. I won't try and squeeze any more juice out of the lemon than a cover at $2400...even tho bitcoin has a great chance of moving MUCH loower here. I'm not like Greg trying to sqeeze the last morsels out of his XLF trade. You're a PIG, Greg. :-) Just joking buddy. How can I tussle with anyone who agrees with me on King dollah? Do you realize how difficult it is to convert a dollar bear to a dollar bull? You wanna try it? :-)
Lastnights High for BTC was $2768.08
You didn't enter but you would have won the prize cause you were the closest.
You can check it out if you want:
It is The Cryptocurrency Challenge and I have 4 Cryptos that people can bet on the Daily High for that day and earn 50% of the posts. (BTC, LTC, STEEM, & ETH)
I think you may like it.
https://steemit.com/bitcoin/@revelationquotes/the-cryptocurrency-challenge-bitcoin-or-for-high-close-date-of-26-july-2017-or-enter-today
@revelationquotes
There was no Bitcoin high at $2700+ last night. High in the last 24 hours was $2605. Here's the proof. Just pull back the trade window to 24 hours to see it.
http://bitcointicker.co
The price you are getting might be coming from a purrtickler coin exchange. I hear that some of the exchanges clear trades through data miners that accept premiums over "actual" price to get trades verified. Paying "up" by the large holders is another disadvantage to the small traders. The bitcoin market is easily the one where misallocation of funds is out of control. At least you have a chance trading U.S. stocks via "fiat" dollars. You have "zero" chance if you are a little guppie trading bitcoin. :-)
Here is where I got the data from for the 25th of July Date. On the Contest it shows that this is the site being used for price data:
https://coinmarketcap.com/currencies/bitcoin/historical-data/
I say >>> No waaay bitcoin traded at $2700+ yesterday. I still figger it has to do with pricing on teh various exchanges. I recall one guy over at Utube was all "excited" about his bitcoin buy at $1700 on the drop that took it to the mid $1800's just before the "ramp the idiot" rally based on the softfork news. The guy was deinitely trying to toot his own horn after the rally began...cept he was fos! :-) Here ya go, another sorce, a good source too.
http://www.kitco.com/bitcoin-price-charts-usd/
No way it saw $2700+ yesterday. getting ready to cross sub $2400 tho. Don't forget to tell the guy who "got it right" at your contest that he can come and see me if he wants to find out how I "knew." :-)
BTC tagged $2400 spot dead on in teh "real" world. Here ya go. Shall I say >>> "Mission Acoomplished!" ??? Or does that just lead to war like when George W. Bush said it in teh year 2003? :-)
http://bitcointicker.co
Keep following my "live" bitcoin ticker using the 3 hour timeframe. Altho I am tracking the longer term price using my U.S. exchange traded bitcoin tracker GBTC, the live ticker tells you everything within minutes of it "actually" happening. The bitcoin "plunge protection" team actually stepped up at that $2400 low. But even that "manipulator" is now bailing out here at $2440...ish. :-)
http://bitcointicker.co
I could print a mint in U.S. dollars if these exchanges had a money market fund tied to each account. "Regretfully" for those who are actually trading it they are "forced" to convert to another depreciating crypto...and crap like vertasium, EOS, ETH, etc will continue to get hit even harder than bitcoin will. Let's see how long they can hold this up. I'd like to see GBTC trade thru $407 now. That's a lower high as outlined on my GBTC bitcoin tracking blog. if it happens...loook out below for bitcoin prices.
I think I will join you if this Yellen talk promotes USD to going on a short-term bounce.
Yeah Greg. I agree with you. Gold and Silver look bearish again :/
I like how you picked up on that! Yes I agree.
What can I say Greg. I'm your Lion after all! Hahahaha
This is the FIRST time I have UP Voted Greg and I just want to say I enjoy all of the Info that Greg Shares with us.................Buy Silver while it is still the most undervalued asset on Earth
Greg KNOWS!!!
Thanks for the heads up, I'm ready to tear a few faces!!!
How long will the bounces remain?
It seems like we should capitalise on the bounces before we are too late
Thanks Greg
IMO we need to wait a bit, perhaps till after Yellen talk later today.