It is certainly no secret that recent Geo-political events are playing hard on this market, affecting stocks, the dollar, and precious metals.
It is also no secret that these markets have risk, and sometimes as traders we have to know when to step back, let things play out, and re-enter the market at a better time.
Saber rattling and war rhetoric is putting pressure on stocks, keeping the dollar at the flat-line, and pushing the price action of precious metals higher.
Now you could try to get fancy and attempt to weave your way in and out of these market gyrations however, a better strategy in my opinion is to simply step back, let all this play out, and pick better spots moving forward.
Knowing when to take a step back away from this market is just as important as knowing when to get in-and this is key to being a successful trader over time.
With the rapid and unpredictable unfolding of Geo-political events, I felt it was prudent to close all of my positions, sit back, ride out the Geo political madness, and look for a better spot in this market over the next several days.
I will keep you posted.
Gregory Mannarino @marketreport
Great advice Greg. There is so much uncertainty right now the market could make very violent short terms swings at the drop of a hat. There simply is no way to logically judge/predict this market. Excellent advice as always brother!!
As it happens, I'm doing exactly the same right now. I sold all my available Steem a few days ago, and I'm just watching to see what crypto is doing for now. Will re-enter when it looks like things are turning around.
Steem right now is suffering from a lot of FUD, and things seem quite uncertain, with the silence of it's founders regarding important questions the community has. I don't want to lose anymore value until there are answers.
Could you elaborate a bit on this clintjunior? Which Geo political events are affecting the Steem price negatively right now?
I don't believe geo political events are influencing Steem at all, I was merely making an opportunity here to discuss the gradually declining value of our currency.
Time is running out, but there is still some silver out there. Better start getting it now.
Awesome article @marketreport i appreciate your work.
Hi Greg, Right now I expect Gold & Silver to move higher on the markets tomorrow. I believe Gold will get over the 1300. hump Friday and Silver close to 17.50. What do you think on that?? Just curious.
As always your analysis on everything is greatly appreciated and always I look forward to hear what you gotta say. Keep up the GREAT work brother and STEEM on. Upvoted. :C)
Thank you
Thx Greg
Great analysis greg keep up your good work.
♪♫♫ Know when to hold'em, know when to fold'em, know when to walk away.... know when to run... ♪♫
when the risk happened in the US, buy GOLD, otherwise, get USD still!
yes greg sir u r right from politics all market dollar, and precious metals are in risk..and thanx to ur prdictions on it
thanks market
@ahlawat
You are a wise man Greg to know when to step back. Greed can make you poor. Know when to hold them as the Gambler song goes. Thanks for sharing, - Troy
I guess I'll let the time pass and step back.
There is no point trying to fight the beast head on if you are able to just wait.
Great Suggestion Greg
indeed ~ Controlling your Emotion is required.
Thanks for the update as always greg
I still do not know about this business. But I think this gives me a little know how the competition in the business. Thank you for sharing @marketreport, I keep reading so I know.
i saw from some times all traders are feel wrong from this stragity of politics and its do in whole world not only usa
This Geopolitical situation can significant influence in the market , let see what will happen.
yes this also right that simply step back, let all this play out, and pick better spots moving forward i agree with this ur strategy
NK card is being played quite well, this is a poker game, what you see is what they want you to see..... this a geo poker politics.. anyway watching gold & silver turned green, such a beutiful scene!!!!!
Like I posted yesterday, My holdings are looking good again today - SLVO, SILJ, TVIX
i fully agree with u and ur all strageties sir bcz mostly ur prdictions was right
really great work from u ur posts on whole market steps and ur own opinions prove helpfull for all traders greg
Awesome article @marketreport.
thanks Greg for the update, keep up the good work. I can tell you really care about us lions.
Nicely said.
I can agree. I will not sell and of the PM though. I don't care what happens. I am not trading I am accumulating.
Upvoted & Resteemed.
I think that Gold and Silver are on a breakout mentality. We will see how it goes though. Manipulation can drive them right back down.
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There are 4 Cryptos that people can bet on the Daily High for that day and earn 50% of the posts (SBD):
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Good call and a safe plan. Regarding the metals we all know no matter how high they go they'll knock em' back down again until they can't.
I see $1300 in the sights of Gold. I am hoping that we can break that and stay above that $1300. I think I heard that Gold needs to stay above $1311 for it to turn Bullish
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People can bet on the Daily High for that day and earn 50% of the posts (SBD):
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I think that you are so right when it comes to the Geopolitical aspects driving this. I wonder if and by how much Gold and Silver get manipulated down after all this clears up.
Probly new 52 week lows for each.
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People can bet on the Daily Low for that day and earn 50% of the posts (SBD):
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Brace yourselves folks, impact imminent!
I really want to see Gold Explode!!!
Silver too.
Let's see if I nailed the SLV low for the day as posted at your contest. Just tagged 16.15. :-)
Great Suggestion Greg................ @marketreport
Thanks Greg, you have answered something I have been trying to determine. Is it best to just close positions and ride it out as the geo-political craziness plays out? Sounds like you've given me a resounding yes, let it play out. Thanks.
Geo-politics is sometimes very supportive for all and sometimes disastrous for us so than that is true as you say if you want to get out means know where to go. Thank you for this interesting post
Yes, stepping back looks like the thing to do.
Thanks for share
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