We note that the Wall Street Journal article that triggered this rally off an initial pre-open downdraft in the futures in fact contains no sources, aside from quoting Fedhead Chris Waller with a statement he made not today but at the beginning of October: "We will have a very thoughtful discussion about the pace of tightening at our next meeting,” Fed governor Christopher Waller said in a speech earlier this month." Otherwise no sources are cited.
We would remain vigilant here since another Fedhead could easily come out and negate the WSJ article. Meanwhile, if attempting to take a position in First Majestic Silver (AG) it is advisable to do so as close to a moving average as possible and use that as a tight selling guide. Otherwise, avoid buying in extended positions as this rally could easily fail.
Pocket Pivot Review - First Majestic Silver (AG) Follow-Up
|21 Oct 2022 10:33 ET
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