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Dollar/Gold/Silver – all trading in the positive
US$ continues to get the support from over-there while we sleep with the trade still in what we call the high end of “the sell zone” of 80.95 up 8.3 points as we are forced to wait for the digitizing of our currency to hit the markets, Treasuries are as neutral as can be with Eurodollars/Notes/Bonds virtually flat. Energy Sector took a lot of wind out of the climb with Crude Oil falling over $3 in yesterday’s trade and is now trading at $85.54 a barrel up $1.09 from the close helping to add some value to the rest of the energy products. Gold continues to stay above the $1,700 target with the trade now at $1,718.90 up $4.90 with a high so far at $1,721.20, Silver, the red headed whipping boy of the precious metals, continues to impress us with its resilience as it trades at $31.920 up 25.9 cents adding to yesterdays recovery almost completely removing the attempt to collapse the longs out of their positions during last Mondays trades. Most traders are ignoring the battle inside the open interest which has changed very little over the past few weeks, which means these price attacks are gaining very little ground compared to the past successes. Grains are trading in the positive with Oats the only exception, Live Stocks sector is trading in the negative, Softs are mixed with Cotton/Coffee/OJ trading higher, Sugar/Cocoa moving lower. Paper Markets are doing their best to rally after yesterdays major correction which many will claim is the result of the elections and has nothing to do with the decades of irresponsible decision making since Richard Nixon came in and screwed us all. We feel we are on the verge of a major rally in precious metals as the Federal Reserve chairman can do only one thing, print more money to throw at a system that is trying to tell the printers that it’s all over. Buy metals and survive …… 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….
2012-11-12 17:00:37
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