SILVER TRADE ALERT (11:45 pm EDT)
We are a few hours away from the release of the Fed's policy statement, and the price of silver has remained stable at $16. I am going to open a long position in silver ahead of the statement release and Janet Yellen's press conference this afternoon for the reasons described in yesterday's blog. We can set a stop loss on a close below $15.60 or $15.80 depending on your risk allowance. This would allow a 1.25% - 2.5% loss for a possible 6 - 7% gain.
As I stated yesterday, I expect this to be a short-term trade so longer-term investors may wish to stand aside. Going long in silver ahead of the Fed (and staying out of gold for now).
We are a few hours away from the release of the Fed's policy statement, and the price of silver has remained stable at $16. I am going to open a long position in silver ahead of the statement release and Janet Yellen's press conference this afternoon for the reasons described in yesterday's blog. We can set a stop loss on a close below $15.60 or $15.80 depending on your risk allowance. This would allow a 1.25% - 2.5% loss for a possible 6 - 7% gain.
As I stated yesterday, I expect this to be a short-term trade so longer-term investors may wish to stand aside. Going long in silver ahead of the Fed (and staying out of gold for now).
RSS Feed