Morning Outlook from the Trade Desk 09/27/12 Metals ignoring the strength of the US$ and again focusing on the plight of Europe. Would have expected more of a downdraft on the US equity market yesterday. If we get a reversal in the US$ here, a test and a push through $1,778.00 is very possible. I want to be short term bearish, but there is a lot on the stove today and tomorrow. Spain's budget proposal, Spanish bank stress test tomorrow, social unrest spreading in Europe. Fear has a lot of buying power.
Morning Outlook from the Trade Desk 09/28/12 Short and sweet today. Did not get the close I wanted yesterday to confirm my next upside target of $1,820. Last day of quarter, awaiting China to announce more easing before next weeks holiday. Bad day to be short, but also not convinced of the break higher. Therefore another alla Twiggy Day. Have a nice weekend.
Morning Outlook from the Trade Desk 10/01/12 First day of last quarter, elections around the corner. Silver is looking like it wants to break out. Could be another head fake but would not be aggressively short this metal. Markets looking for a catalyst to break the current $20 range in gold. China easing will need to wait another week due to the holiday. US$ relatively stable over the weekend. Watch the $1,779 level for gold on a close basis. A break sees $1,820 in short order. The US$/Euro will set the tone for the break.
Morning Outlook from the Trade Desk 10/02/12 Felt like I was watching a fishing derby yesterday morning. A big juicy worm ( sorry ladies) was trolled in front of investors, as silver exploded through $35.20 and gold approached $1,800. Looked like a done deal, that the resistance levels would be finally taken out and the market would trade at higher paradigms. But by the Comex close , gold was just under the $1,779 level, where it begins this morning. Maybe its worth taking a bite, but the trade will taste better on a "close" above resistance. The Euro/dollar is still the key. A break over 1.30 will take out the metals resistance levels. Past Octobers have been extremely volatile and I see no reason to expect differently this year.
Morning Outlook from the Trade Desk 10/03/12 ADP data shows about 130,000 new jobs expected to be announced, which is no surprise and will keep unemployment rate unchanged on Friday. Wow, that means the Fed will continue to add liquidity and the metals start the market higher. All short term noise. Watch the dollar/Euro and ranges for next move. When this breaks, you wont need me to confirm the move.
Morning Outlook from the Trade Desk 10/04/12 Romney for President? Could be the catalyst that brooke the line. Romney danced at the right times last night and the talking heads gave him the win at the first debate. Closer analysis indicates something that gives me pause. He virtually denied most of the platforms that he has been running on for the past two months. His victory is presumed good for the metals. Add Iran's violent protests and the pressure was too much for the metals. Remember, the market has not closed yet.
Morning Outlook from the Trade Desk 10/05/12 Resistance level now becomes support. Unemployment rate , if you believe it, I DON'T, magically drops below 8%. Politically engineered. No, that would mean you cant trust the Government. Anyway, people see it, somehow believe everything is getting better fast, which then means the Fed. may not be as accommodative, which means higher rates, which means sell the metals. In the old days I would have categorized this as a male cow, that had the unfortunate accident after eating a large quantity of Ex-Lax with his breakfast. Would buy support. www.bulliontracking.com - free 1 month trial available - essential tracking tool for your metals
Morning Outlook from the Trade Desk - 10/09/12 Canadian Thanksgiving holiday yesterday, forgive me... China adds liquidity which helps the equity and commodity markets. I large move could come at any time. need to play this market from the safe side. Everyone that's anyone has now opened the spickets. This will need to grab some traction soon, or a move to the sidelines is imminent, which could be a significant downside catalyst for the metals.
Morning Outlook from the Trade Desk 10/11/12 My body arrived but the airlines misplaced my brain (Cali to Montreal). I am hoping after a few strong brews it will materialize. Appears to be a bounce after three days of weaker equity markets. although no prices were discussed, the conference was overwhelming bullish all metals, precious, base and strategic. Of course I did have to open my mouth and present the possibility that a stronger dollar may be negative for the metals in the SHORT term. The dynamics of this market are very constructive. When I sound negative or positive, remember, I speak as a trader, and therefore look for reversals and points at which to be short or long a market on a very short term horizon. This is a market that should go lower in the short term, but it is not a market to be aggressively short.
Morning Outlook from the Trade Desk 10/19/12 After a brief suspension from the forum, I'm back and able to post again. It seems recommending a completely legitimate website that could be beneficial to anyone that owns precious metals is against the rules. I appologize, but think that the policy should be reviewed. Anyway... Gold should have support at $1,728 level, but the overall markets continues to feel soft. But, it's a Friday and although major breaks have happened, traders will square before the close. Buy any weakness in the morning in anticipation of a firmer close. Watch the equity market. Yesterdays Google fiasco may spill over into the broader equity market. Check out 1987 on this date for equities markets. Euro has weakened, but still above the psych level of 1.30.
Thank f&ck for that then... Not a peep out of him for nearly 5 whole months... Maybe his desk collapsed under the weight...
