| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Silver and Gold get hammered but not the Open Interest!!
US Dollar is down 2.1 point in the early morning trade with the trade at 82.385 after opening at 82.190. Treasuries are flat to higher with the Eurodollar flat and the 10 and 30 year bond higher. Energy Sector is taking a hit as an organized group dumps paper into the market, we see Crude Oil getting hammered trading down $2.21 at $89.08, 3 cents off its low with the rest falling as fast. Do you think we’ll see sharply lower prices at the pump? Gold is down $100.30 with the trade at $1,400, the low in trade ($1,386.00) happened right at 3am PST when the Boys of London take over. It seems like buying has come in since the London opening, hey the NFA, our governing bodies were there in London checking out the London price fixing a few weeks ago, bet they didn’t find anything. Silver is hit just as hard with its trade at $26.60 down $2.731 with a low of $22.90, you guessed it, right at the London Open. Hmmm!! Open Interest in Silver is at 165,176 this early morning, which means the buyers are still in and holding strong while a group of Algo’s short thousands of contracts while trading is super light. If buyers were dumping positions, the open interest would drop dramatically. The highest I’ve quoted was Thursday, before the organized beat down occurred. Sure the prices are unbelievably cheap and yet, all the anti-metals traders have been able to do is dump paper and at the same time excite the buyers. Something very big has happened or is happening behind the curtain. I think we’re about to see a major company fold and instead of waiting to attack the Precious Metals after the announcement (like they did with Lehman), they attacked it ahead of the news. Man, oh man, all the laws that are being broken and still, the governing bodies are worried more about small brokerages and their languages than large companies and their ability to swing markets with a push of a button. Grains and Softs are trading lower but nowhere near the damage within the Energy Complex and the Metals Markets. Maybe they found a giant Silver/Gold/Oil Pit somewhere in Alaska…. lolol … The Live Stock Sector will open at 7:10 PST and our Paper Markets are trading lower but we expect the Working group to buy it up at the close like they’ve been ordered to years ago as we wake to another Monday with no news to report except the manipulations of a closing monetary system. Yet, We still see these very strong hands in the Precious Metals refusing to budge or exit their long contracts. Do what we at Fort Wealth have been doing, But Call Options!! They have a specified risk and you might survive this so when the real rally shows up …. Seriously, it won’t be long now!! …. 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….
2013-04-15 05:45:26
Source:
