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NOTABLE HIGH IV STOCKS WITH IV > 50%1. P, 79% 2. FCX, 76% 3. X, 75% 4. TWTR, 67% 5. STX, 57% 6. ABX, 56% 7. NFLX, 56% 8 GG, 53% 9. SLW, 52% Naturally, we are coming into earnings season here, so there's a reason that some of these have high IV here (e.g., NFLX announces in a week and a half). Ordinarily, I like IV to be >50% and IVR (current IV's level relative to where it's been for the past 52 weeks to be high, too), but I may not find a great deal of 70%+ IVR plays here with broad market volatility so low (VIX finished the week below 15). Neverthless, it may be worthwhile to churn through this small list for premium selling plays (iron condors, short strangles, short straddes), assuming there's sufficient time before earnings to sneak a play in. Otherwise, it's probably best just to wait to do the standard volatility contraction play surrounding earnings ... .
P
by NaughtyPines
3
#Gold Testing Support Near Term Bounce ExpectedGold is testing lower levels of support as market participants aim to price in a potential rate hike in June by the Federal Reserve. While intraday price action is oversold, the daily chart is indicating further selling could continue to below $1,230. If a close below this key level occurs, traders can expect XAUUSD to reach $1,215. Subscribers of MacroView's "Daily Grind" were alerted of the potential of a $30+ drop as seen here . Key factors to watch: The four-hour chart z-score is -2.4 (daily z-score is -2.57). This suggests that prices are stretched and a score +/- 2 makes a great contrarian indicator. Intraday RSI and Stochastic are both suggesting oversold conditions. Multiple EMA bearish convergence, currently a 50/200 EMA bearish crossover is probable. MacroView expects to see demand between $1,215/20. It's important to keep and eye on the short end of the yield curve. With a relatively strong negative correlation with the two and five year yield maturity, if those continue to rise, we could see more pressure on the yellow metal. For more information on MacroView's products, or general questions and comments, feel free to message us. Also, readers are encouraged to post their thoughts and charts!
FX:XAUUSD
by MacroView_Research
1
Gold Miners Could Pullback Before Resumption of Trend.Gold prices have been volatile, flucuating between $1,275 and $1,220 as markets remain indecisive on what stance to take: is the Federal Reserve going to continue hiking assuming the economy will "gradually improve," or with traders continue to look for safer locations to place there cash? According to recent capital flow data, the GLD has seen redemption as market participants choose to overlook the weakening global economy and its implications. Nevertheless, with inflows into risk ETFs like SPY and HYG, gold miners could see their shares pull back from this historic gold run. Technically, after GDX broke out of a longer-term downtrend, price action began to oscillate within a narrow ascending channel. Prices are likely to pullback to channel and price action support of $19.80, while a confirmed break (or daily close below support), miners could fall to $18.85 and, potentially, $17.85 - also nearing the 50-day EMA. However, if the popular mining ETFs can remain above support, price action could challenge $21.88 and $23.03. Overall price action and trend momentum still remain rather supportive to the upside. Please feel free to comment and share charts! And follow me @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
AMEX:GDX
by CommoditiesTrader
Gold to $8,000?Despite what so-called gold bugs have been trying to predict for years, it still remains seen how valuable the most "hated" asset on Wall Street can be. Calls of $10- or $50,000 gold have made headlines and often laughs, but when investors take into account the supporting fundamentals, gold can be extremely beneficial during these centrally-planned economies. Recently, Pierre Lassonde said that gold could have the potential to reach $8,000 per ounce when looking at the gold-to-Dow ratio. He mentions how tangible assets tend to regain parity after previous bull-markets, and the potential for his forecast is supported if the gold-to-Dow ratio his .5 while expressing that the quick and expansive adaptation of NIRP will fuel the fire. As central banks continue to ease ($12.3 trillion in quantitative easing and 650 rate cuts since the financial crisis), there is a potential for a prolonged bull market in gold. As I noted in "Demand for Gold Rockets Higher ," if the renewed momentum were to match nominal gains investors seen between 2009-2011, spot prices would near $2,230 - which is not $8,000 but very respectable. The 1.61 Fib. extension from the current multi-year low and the 2011 high is $2,460. In " Gold Looks Promising Long Term ," I posted last February that the longer-term outlook for the yellow metal remains in tact. Price action continued to trend in the descending channel until it bottomed in December. What strengthens the cased for renewed optimism is that price action convincingly broke out of the descending channel and back above the 2003 trend line. In " Gold to Retest $1,130 as Dollar Strengthens ," I pointed out last March that the dollar strengthening is trouble and the velocity of such would be meaningful. As we've seen throughout last year, U.S. multinationals have been crushed due to the strength in the DXY, I also pointed out the descending wedge on the daily chart, which is a bullish reversal pattern. After finding support where I thought the last line of defense was before $1,000 oz., gold rallied hard and broke out. However, even through wedges are strong indicators of price reversals, the real test is that price tends to quickly retest the broken resistance. If that hold, it could be off to the races. Please feel free to comment and share charts! And follow me @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
COMEX:GC1!
by CommoditiesTrader
Gold Intraday TechnicalsGold has pulled back slightly, but still up almost 15 percent since 2016. Traders don't believe the current rally as they look hopeful of more central bank quantitative easing, which is exactly why gold has had its run this year; and it is why I have been saying fundamentals have been strengthening for gold for roughly 16 months. After gold volatility hit multi-year highs, it is beginning to moderate a bit. I expect it to remain elevated: Technically, gold downside may remain limited with minor trend and price support at $1,205 and dynamic support at the 72-4H EMA nearing $1,198. Deeper support levels are seen at $1,190 and $1,177. Volume has tapered off since the Feb. 11 high, but positive bars still remain on top. Near-term resistance can be seen at $1,214, while stronger resistance is $1,220. If gold can retake these levels, price action would challenge the recent downtrend from the recent high. At that point, bulls can look toward $1,240. What has been beneficial is that gold has been able to work off its highly overbought level while still remaining about key support. This Friday, traders are anticipating the US preliminary GDP print. Consensus is at a nauseating .4 percent, following Q4 .7 percent that is likely to be revised lower. Even if the prelim data meets consensus, it would be over two percent lower than the Atlanta Fed's GDPNow model. Not only is it ironic that the Federal Reserve's first rate high in seven years was in a corporate profits recession and sub-one percent growth, but it also could have been done going into a recession. Way to go, Janet! Please feel free to comment and share charts! And follow me @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
FX:XAUUSD
by CommoditiesTrader