Dancing with our nuts; Silver, Gold, and the Crypto’s

I scratch my head in the early morning trying to figure out what would cause the Dollar to be rallied in the overnight with its trade at 88.205,  up 53.8 points and close to its high on 88.27.   But then I remember I’ve been in cartoon land for about 3 years now in a place where reality doesn’t matter,  only the painted charts that very few can profit in.   Treasuries have been kept from falling as the support mechanism (aka Algo’s) dare not allow one iota of reality in otherwise the entire system would weaken into a pile with the central banks smothered in their own unprofitable and unwanted products.   This rally surely couldn’t be the banks trying to support a president who seems to be inciting a revolution in his own backyard (could it?).   Why I haven’t started drinking heavily in the morning is another question I have to ponder as well.

The Energy Sector is trading in the positive for once,  but is still dragging its behind at the bottom of the charts with Crude Oil up $1.89 at $77.74 as the rest of the sector breath in a moment of positive trades in what can only be considered a dead cat bounce.  Even with all time snowfall records breaking in the northeast and ISIS demanding Gold in exchange for Oil,  the prices are well controlled.   Algo trading at its best!

Gold is trading higher at $1,199.00 up $7.50 (Feb) and after it broke thru the 00’s again with a high of $1,201.10.   Open Interest in the December contract remains elevated with its number now at 164,581.   Even though the OI is down 16,114 contracts,  the remaining contract numbers are very high for only 4 trading days left before all speculators have to be out as the delivery period for December starts.   Gold’s overall OI is at 470,045,  a gain of 6,097 contracts.   Silver is trading higher as well with its price at $16.345 (March) up 15.2 cents after reaching a height of $16.445 before being pushed back down during the London session.   The OI in December Silver fell some 4,263 contracts but remains elevated with 62,200 contracts (311,000,000 ounces) still in play.   Silver’s overall OI gained as well with its total now at 174,215,  an increase of 1,311 contracts.   I still lay claim that some behind-the-scenes-event  is occurring right now because these elevated numbers still in the December contracts are pointing to a major delivery problem.   Next week could be very explosive pricewise,  unless, of course,  the central bankers are able to get the OI numbers down substantially.   The onus is one them.

Bitcoin seems to have substantial pressure put upon it because all the positive news coming out about the Crypto-Currency should be sending this new currency experiment into the stratosphere.   But it’s not allowed with the trade at $353.90,  down $7.64 cents inside a 24 hour trading range between $381.80 and $342.10.   Ripple Coins buyers are stepping up to the plate as we’ve guided a few more into this newer experiment in the Crypto’s with its trade now at $0.006672,  up another 591 points as it seems the winds have filled the sails as this Crypto glides higher in value.   Wonderful movements so far as we continue to suggest people consider this as an alternative investment as the US Dollar will eventually continue its trade into oblivion.

Grains are mostly lower with Bean Oil the only positive,  Softs are mostly elevated (for now) but with the rise in the Dollar,  which btw,  only started about 3 hours ago,  should cause a drop in value in these overseas earth products.   Nothing to fear though because the Twisted Sisters are continuing to set new records in height regardless of more people not working as more and more evidence is popping up  everywhere proving that this thing called an economy has virtually halted and is on the decline as homes,  cars,  and other manufactured product sales,  fall at the same time more and more people seek government help to feed their families.   Mother Nature seems to be giving us all a warning that she is pissed and may have to slap all bipeds around a bit more to wake them up from their folly.

It seems more and more people are waking up to this alternative reality,  because things ain’t right in investo-land and the implications of purchasing power loss are frightening.   Coin sales in both Canada and the US,  along with the continual drawdown of inventory in Shanghai,  should have already caused the Precious Metals to rally to newer life of contract highs,  but haven’t (yet!).   So here we are dancing comfortably with our treasured nuts as we wish you all a wonderful and warm weekend,  and as always,  we ask that you  …  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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