Nightly Briefing 6/10/20


We posted this chart the other day. We have our downtrend line broken which is step #1. We now need follow through tomorrow.

For gold it's all about $1755 futures price. Let’s see if we get that overnight into tomorrow.

The Federal Reserve today with their policy statement issued at 2pm EST, gave the markets a clear direction. Interest rates will be kept at or near zero into 2022. This is highly supportive for metals and the stock market. The metals did not disappoint. We expect a 4-5 day large rally sometime in June, but the exact timing is unclear. We may launch from today into that rally testing $19.50 Silver and $1810 gold futures or we may wait until early next week to begin that propulsion. We will know tomorrow if the bullion banks will try to cap gold under $1750 one more time. They ultimately will fail but they require more time to make delivery of physical gold to counter party transactions that have occurred the past 60 days. Every day they can pin gold lower and prevent a breakout saves them money. Our expectation is that you will see this move no later than June 22nd. Remain patient. Miners, gold, silver and platinum should all follow the same trajectory to varying degrees.

BLMN is adding revenue in 2020 with the Aussie Grill expansion, another product line to their company to compete with all the big fast food names like McDonalds, Wendys, Burger King, Taco Bell etc. We expect price to break through $24 this year based on this addition. We have a hunch you will see a big name institutional value investor take a position in BLMN shortly. Price will never look back.

DENN has a great Covid-friendly footprint across rural America. Denny's won’t miss a beat as state economies reopen across the USA.


Expect some sideways consolidation with maximum upside of 3,250 SPX into next week. The next big move up will likely be towards the end of the month.

This is a trade that has potential to be a longer term trending trade into late July. We will evaluate our position weekly and may trade in and out of it during this advance.

HFZ



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Important Disclosures: Investing in the financial markets can involve considerable risk, including loss of principal. Past performance is not necessarily an indication of future performance.  Actual clients may achieve results materially different from the results portrayed.  All material is for informational and educational purposes only and is not investment advice and is not meant to suggest that any securities are suitable investments for any particular investor.  All information reflects our own actions, beliefs, and processes for purely informational purposes. HEDGE FUND Z LLC IS A FINANCIAL BLOG FOR THE SOLE PURPOSE OF EDUCATION.  HFZ does not represent themselves as acting in the position of an investment advisor or investment manager for funds that are not under their direct control and fiduciary responsibility. 

 

Third party quotes and information may not be representative of the experience of HFZ customers and do not represent a guarantee of future performance or success. Many of the results displayed on our website were achieved using leverage, such as 2x or 3x leveraged ETF's or equity options 

 

The information included at HFZ and HFZ writing, research, and updates is prepared for educational purposes and is not a solicitation, or an offer to buy or sell any security or use any particular system.  Information is based on historical research using data believed to be reliable, but there is no guarantee as to its accuracy. HFZ does not represent themselves as acting in the position of an investment adviser or investment manager for funds that are not under their direct control and fiduciary responsibility. HFZ will not provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter.  

 

No information, nor any opinion expressed on the Site or in the Services, shall constitute a solicitation or an offer to buy or sell any securities mentioned therein.  The information presented on the Site and in the Services has been prepared without regard to any particular investor's investment objectives, financial situation, needs, capacity, and trading ability or experience. Accordingly, you should not act on any information on the Site or in the Services without obtaining specific advice from your financial advisors and should not rely on information herein as the basis for your trading and/or investment decisions.  HFZ cannot claim or represent that any of our Services are suitable for you. 

 

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