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Triple Witch Day pushes Gold/Silver lower (for now)
US$ has been given the support from the overseas money printers in what could be a last ditch effort to support an economy that no longer supports the weight of all the government entities, the US$ trade is up 50.3 points with the trade at 79.63 after reaching as high as 79.69, Treasuries are neutral in Eurodollars and slightly higher in Notes/Bonds, and as of this moment, there is no reason for such a strong jam up in the dollar. Energy Sector took another pounding in yesterday’s Comex trade and seems to be continuing now with Crude Oil trading at $91.68 a barrel down 32 cents however the Crude Oil by products are trading higher. Gold got hammered during the London trade with the current price at $1,762.90 down $8.80 after reaching as low as $1,758.10, Silver is also down with the trade at $34.36 down 22.8 cents after reaching a low of $34.140 helping to push all metals lower. All Grains are in the negative because of the dollar push, Livestock is mixed with Feeder/Live in the negative, Leah Hogs are trading higher. Softs are split as well with Sugar/OJ trading higher, Coffee/Cocoa/Cotton trading lower, the Paper Markets are lower but will probably be pushed higher on this Triple Witch Day which is only 6 weeks away from the presidential elections. Many have argued that this is part of the ploy to keep the incumbent in office, and we can’t say no to the thought because we’ve witnessed this same dollar rally prior to the last 4 presidential elections where Petro prices fall as well as food prices, which make the sheeple feel comfortably numb going into the election. I still can’t forget HW Bush’s “No New Taxes” campaign. Then right after he was re-elected, he raised taxes. I’m a political atheist who sees only the money controlling who gets elected and sees that both these candidates offer nothing new except there’s a different face pimping the monetary policy of a fail fiat currency. Today should be the low in precious metals for this pullback and we expect the metals to start to surprise everyone with very sharp moves higher, we suggest buying Call Options only without spreads till after the first push thru the old highs. …. 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….
2012-09-20 10:20:33
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