This post was just published on ZYX Short Sell Change Alert
Consider exiting a 15% tranche in SLV in the zone of $31.75 to $32.15. As of this writing SLV is at $32.12. Futures EQ is $33.14. After this fill 55% of full core position size will be held.
The purpose of this exit is to reduce risk before the Fed statement.
The Federal Reserve will announce its policy statement at 12:30 ET. The Fed will release its forecast at 2:00pm ET and Bernanke will give his press conference at 2:15 ET. Please stay alert for more transactions on silver and gold as more is known about the Fed’s actions this afternoon.
A few hours from now, we will know if there will be QE 3 and how big.
