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Silver/Gold brought down by the Triple Witch Week
US Dollar has the support from those that have exited their short contracts with the trade up 9 points with its trade now at 79.205 as we are now trading the December currencies since yesterdays September Closeout and December rollover is finalized. Treasuries seemed to have reached a plateau with the Notes/Bonds trading higher and the Eurodollar finally starting to move lower. Energy Sector played the War footing well from Fridays big rally to Monday’s “no war” drop with the trade now at $96.11 guiding the rest of the Sector lower as well, we feel the war footing is real and the rally should continue after the banks do their quarterly inventory accounting procedure. Gold is also trading lower because of the Triple Witch Week with the trade at $1,761.30 down $9.30 taking Silver with it. Silvers trade is at $34.24 down 12.7 cents, Copper is sharply lower as well and is being looked at as another attempt to push this overly short complex lower later today, time is the only thing left before the big rally continues. Grains are mostly lower with Corn/Soy Beans/Soy Products trading lower, Wheat/Oats/Rice trading higher. Livestock Sector is mixed with Live/Feeder Cattle trading higher Hogs flat to lower, Paper Markets are flat to lower as we enter day 2 of the Triple Witch Week. We suggest those that trade to mark the next Quarterly Triple Witch Week on their calendars now, so they can see the next pullback in most Physical Products, it just might help you capitalize your accounts ….. Stay Strong!!!
JB Slear
Fort Wealth Trading Co LLC.
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com
Don’t risk what you cannot afford to lose….
2012-09-19 04:00:19
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