Entering the Triple Witch Week with a mixed Precious Metals market

The US Dollar is steady on the last day before the Triple Witch Week with the trade at 84.305,  up 1/10^th of a point and still bloated in value.   Monday is the last trading day for all the Sept Currencies including the Dollar, with the bankers being the last ones to do their rollovers.   Treasuries are mixed to lower with the 30 Year Bond down over ½ a point and the 10 Year Note trading lower and the Eurodollar remaining unmovable as we get closer to the debt rollover period which happens towards the end of next week as well.   The Energy Sector remains confusing with Crude Oil now trading at $93.11,  up 28 cents from yesterday’s close after it was reported that a large group of anti-ISIS leaders were blown to bits all at once when they gathered at their secret bunker to discuss plans on retaking parts of Iraq and Syria,  so much for the word secret.   The Middle East remains as confusing as the Energy Sector,  which doesn’t seem to be moving in any way considered normal based on the fundamentals, maybe the idea of the US having so much shale is the reason,  however,  many in the investment arena think this shale talk is a sham and are suspicious.   Time will prove this one way or the other.   Gold is still trading lower and this is a normal pattern during the start of the Triple Witch Week.   The Precious Metals always seem to drop during this end of the quarter period with a usual low showing up on the Triple Witch Day next Thursday.   Gold’s trade is at $1,238.30,  down 70 cents with its London low at $1,232.80 and a high at $1,242.30 as the Open Interest posted a gain in yesterday’s takedown.   This tells us the Longs are reluctant to leave as the shorts attempt to take down the price with their flash crashes.   Another smart buyer stepped into the Sept Gold delivery period with an order to buy 84 more contracts (8,400 ounces) with a very short waiting period.   This is telling in a way and bears watching as more and more metal gets extracted from the Comex system.  Silver is trading positive at the moment with its trade at $18.64,  up 4.1 cents after reaching a high of $18.72 as it’s Open Interest showed gains as well.   So far so good for the strong Longs who refuse to budge and the September delivery received another 13 contracts proving once again that these prices are acceptable to extract physicals.   These deliveries are of good note,  but won’t change the price structure we’re under till much larger orders show up to surprise the system,  all this bears watching.   Bitcoin is trading at $470.40,  down $5.10 and inside a 24 hour trading range between $480 and $462.   The London banks claim that this Crypto is a threat to their system and we simply agree.   It may be a real threat to the bankers control system which will virtually take what they want from any account under their control,  but it won’t hurt the holders of the Crypto or the companies that use it to transact business,  as it is outside the jurisdiction of every nations theft,  err,  I mean SWIFT system,  a very comforting idea for the business masses.   Ripple Coin remains steady price wise with its trade sitting at $0.00466,  down slightly from yesterday as we seem to be helping more and more buyers get into the system.   After all,  with Bitcoin making Millionaires out of their early investors,  Ripple is right there right now,  at its “early” stage too.   Grains are higher as the Sept Contracts are closed out today,  Softs are mostly lower with Cocoa the only exception,  and the Live Stock Sector is mixed by meats with Feeders and Live Cattle trading higher and the Hogs moving lower.   “Nothing to fear” says the Twisted Sisters because they rule the Triple Witch roll over period.   It seems no amount of bad economic news will shake lose these 3 from their bull grip on the market,  because of The Working Groups support,  but time is on the side of the Bears,  if there are any left.   We close out an exhaustive week with still a positive feeling towards our Precious Metals and Crypto holdings and are very thankful to leave yesterday behind.   As a professional in the business,  Sept 11^th always seems to carry a large amount emotional stress.   To me,  it won’t ever leave,  I suppose this was no different than when the Pearl Harbor event occurred back in the middle of the last century.   I remember as a child back in the 60’s,  my Grandmother and Grandfather being in a somber mood every Dec 7^th.   I also remember in those days my Grandfather at times,  screaming at his radio,  “those God Damned Liars”.   I asked my Grandmother why Grandpa was yelling at the radio?   She said,  “don’t worry,  he’s just a little senile”.   Now that we’re into this century,  with another questionable war,  I can’t help but think that I’ve become my Grandfather with all the information my head accumulated over the last several decades and my suspicious feelings towards the ones that dragged us into war.   I suppose one has to live the moments that lead us to today,  and in time,  we all arrive at the same place,  our Grandfathers moment.   Have a safe weekend,  keep those Precious Metals and Cryptos close,  and as always  …  Stay Strong!!

JB Slear
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com

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