The US$ is unsupported at these lofty heights with the trade at 82.595 down 31.8 points from yesterday’s close, Treasuries are responding with Eurodollars higher and Notes and Bonds slightly weaker, a day before Bernanke speaks to Congress. The Energy Sector has a second day of rally with Crude Oil up $1.25 at $85.55 a barrel guiding the rest of the sector higher except for Natural Gas which is trading slightly lower. Gold is up another $21 with the trade at $1,637.90 close to its high of $1,640.40, Silver is very strong with the trade at $29.355 up 95 cents with its high at $29.375 guiding Copper and the rest of the sector into very positive territory. All Grains are higher, Softs are mostly higher with Cocoa the exception, Meats are mostly higher as well with August Feeders the flat exception. Paper Markets are showing unreasonable strength from the overnight trade which should be considered a dead cat bounce. The actions in the markets from last Friday have not been corrected, nor has the direction changed, and are giving a guidance to those that can observe the possibility of a few nations leaving the European Union’s one currency experiment. Japan/China have already started trading within their own currencies without the use of the US$ with Spain creating quite a stir for the IMF which might prove to be the harbinger for change that cannot be reversed. There is no confirming data yet except the fact that someone/thing on Friday bought a huge amount of contracts that overwhelmed the short anti-metals traders which caused Gold to rise over 4% in a day, an exceptionally rare event indeed. Something very negative for stocks and currency is upon us, and those that hold the physical products will be in the safest of positions, those with some metals investments will be in a good second place, but capitalize the most … Stay Strong!!
Fort Wealth Trading Co LLC.
866-443-0868 Ext 104
Don’t risk what you cannot afford to lose….