Better be holding Silver and Gold as the Euro-Stress-test shows plenty of failures

The US Dollar is steady in the early morning as the London “lift” is put into place with the trade at 85.700 down 11.8 points after sliding down to 85.540 before the support arrived.   Treasuries are steady but giving unclear signals with the 30 Year Bond trading higher as the 10 Year Note posts negative numbers at the same time Eurodollars seem to not be moving at all.   We’re still in the belief that the spike and subsequent collapse in the 30 year Bond has done some extreme damage in the central bank debt canopy that covers all western nations with their arrogance.

The Energy Sector remains as confusing as who we’re supporting this week in the Middle East with Crude Oil at $80.69,  down 32 cents as it drags the rest of the sector lower as well.   We can’t help but wonder about the story filling the airwaves about Saudi Arabia trying to punish the rest of the Oil rich nations,  as well as themselves,  by lowering their income freely in order to attack Russia.   We feel it’s simply another political ploy we see happening during every election that happens here in the USSA.   In order to make people feel good about who’s in office and who should stay there,  the energy prices seem to ironically drop weeks before our elections.   Check the charts and see how delusional we really are.

Gold,  which was trading in the positive no more than 35 minutes ago at $1,232.10,  is now at $1,230.70,  down $1.10 and at the Sunday night opening.   Open Interest fell a little on Friday with 409,425 staying in the trade as a little more than 320 left their positions.   Silvers trade remains as tight as ever with its trade at $17.185,  up 3/10ths of a penny inside a trading range between $17.23 and $17.125.   Very tight range after the Bankers Stress Test in Europe showed 24 banks unable to pass this fictitious review.   Open Interest in Silver remains heavy and is at a level no one should ignore at 172,070 contracts as we get ready to enter into November,  which is the last trading month for the December contracts.   Decembers OI is where the battle line is drawn with Open Interest at 119,829.   This has to be labeled super high and must be a concern for the shorts!

Bitcoin has been taken to the woodshed last week but seems to have steadied a bit over the weekend with the trade at $353.40,  down $7.70 from Friday’s quote inside a 3 day trading range between $36.70 and $341.20.   Ripple coin,  our newer favorite,  is lower as well with its current quote at $0.004994.   We’ve been trading in and out of this Crypto with some good success as we continue to add to our Crypto-Bounty.   This means there is good volume inside its trading ranges and is a very good indicator for future moves.

Grains are all trading in the negative with Oats being the only exception.   Harvest pressures abound in the feed arena as we wait to see who we’re going to sell our GMO foods to since everyone else on the planet gets the fact that these man-made creations are killing everything that consumes them.   All Softs are in the neg as well and the Live Stock Sector opens at 9:10am Chicago time.

Nothing to fear as usual since the “Buy on the Dip Squad” continue raking in the money regardless of the fundamental facts that there is no money inside the middle and lower classes anymore.   The Papers are lower but barely as Japan recovers a bit and Europe’s stocks are still posting negative numbers across the board,  most like because of the bankers stress test created by those that defend the current system.   It seems every country in Europe wants Germany to bail them out and Germany is getting tired of the freeloaders.   On this side of the pond,  good ol’ never had a real job Hillary is saying that only the government creates job,  not personnel enterprises.   If I was at the college she went to get her degree,  I’d be really embarrassed.   But that’s what we get here in the land of the homeless and jobless,  until things implode.

We feel we’re right at the cusp of the implosion because no one has any more money to buy up debt unless it’s printed.   Sears is closing hundreds of stores and laying off hundreds of people,  McDonalds, as well as other companies are feeling the no cash pinch and it will only get worse as we get closer and closer to Christmas and the new year.  Housing prices have been continuing to show weakness as well,  we feel this sectro has popped and is under support as well,  and still,  they preach things are getting better.   To date,  nothing spells holding purchasing power better than Silver,  Gold,  and the Crypto’s,  so keep them close and as always  …  Stay Strong!!

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

Don’t risk what you cannot afford to lose….
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