I’m pretty Sure Silver is going to rally again soon… I think it will fire up in the next few days – but I am playing a straddle in the market currently.

I just bought more calls, which I don’t need but I want to make lots of money LOL.  These are the cheapest with enough volume and open interest and time to play with.  The $20 calls are almost twice as much and the $19’s are almost 3x – so I see great profitability on a $2 move to 21.5, new highs.

September 16 SLV $21 Calls @ .21

Chart below…

Bull Flag/Pennant, whatever, I think the correction is near over…

Hoping the Dollar will roll over and give us some love up.  This is an intraday chart so there’s not a lot of perspective here, but it looks to me like the dollar will sell off from the top of downward channel towards 96.8 first.

Here is the Daily Dollar and it isn’t trading all that technically, but this is how I see it… to 95 in the coming couple of weeks.

Just hypothesizing –

Profit taking on Earnings / Trump Rally lol…

Big money to move out of stocks and start moving metals…

Possibly selling in bonds as the Brexit blowoff is over and rates normalize.  Uptrend violated…  Perhaps banks and institutions moved large amounts of money into Bonds to be safe for Brexit and now they will reallocate to normalized positions.

I see the S&P returning to support before buying resumes – particularly when the dollar is cheaper.

Could be wrong on all…

Either way I have 17 Silver puts to offset, and now have 16 calls.