US Mint runs out of blanks as we wait for the Precious Metals to rally

The US Dollar,  which gets its support only in the night session,  doesn’t seem to be getting the love it needs as we see the trade down 20.7 points at 87.360,  after it dipped to 87.23 earlier.   It could simply be a problem Japan had with its flash crash where the Nikkei dropped 1.8% that caused the refocus of our global central banking system or,  the other problem;  What to do with all that over printed, nobody wants to hold currencies anymore?   Treasuries are showing support at present as the chart painters are having a hard time trying to make the charts not look like the exact opposite of the Twisted Sisters (S&P, Dow, NASDAQ) “V” tops.

The Energy Sector got a slight boost in its trade yesterday after a rather large explosion occurred in a Saudi Arabian oil field.   Which ironically happened the day after the US midterm elections with Crude Oil now trading at $78.47,  down 21 cents with the rest of the sector as confused as Crude is.   Too much supply is the bears argument as the future of supplies traded in US Dollars is being ignored at present.

Gold seems to have bottomed out,  at least at this moment,  with the trade at $1,144.70,  down $1 after dipping to $1,137.20 before climbing back up towards its highs.   Open Interest gained 1,854 contracts in yesterday’s trade making the OI total 417,377.   We’re trying our best not to get too excited about the December’s OI which stands at 258,958 contracts,  after all,  it could be another central bank head fake.   Silver seems to have bottomed as well with its trade now at $15.28,  down 16.4 cents after it hit a high of $15.41 before the typical London attack.   Silver OI isn’t moving much,  especially after the last attempt to scare everyone out as the OI number stays at 176,463 contracts as the stubborn and stupid (I say this jokingly) longs held their positions even after an $11 drop in value over the past year.   I cannot see any other explanation for this except that these longs are standing for delivery.   If this is true,   “manipulation game over”!   Also of note,  the US Mint ran out of blanks again as the coin stampers inventory was drained within 2 hours yesterday.   Normally this would be considered bullish.   Remember how Supply and Demand used to help prices fluctuate?   Let us see if reality sets in like the good old days before the Algo’s took over all mankind.

Bitcoin is rallying again giving us our positive attitude with the trade at $340.   Up $2.60 and inside a 24 hour trading range between $336.30 and $344.20.   It seems all the news of late is negative towards the Crypto,  but this is only the lame stream media is doing its best to support the banks because they haven’t figured out how to get paid with the newer anti-bank payment system.   All they need to do is ask some of the political backers how they do it,  after all,  Bitcoin is an accepted currency for both parties political donations.   Ripple Coin,  Fort Wealth’s new favorite Crypto,  is holding its value with its trade still at $0.04992.

Grains are still trading mostly in the negative with Oats the only positive,  Softs are mostly higher with Coffee the only neg,  and the closed Live Stock Sector looks ready to break out thru its top again.   The Paper Sisters have been having a hard time of late,  but those black and blue marks are easily covered with the Working Groups mascara.   We’ll have to see what happens from this point forward,  at present the Sisters are trading lower.   We’re reminded of a story after the Clintons were pushed out of the White House and how they graffitied and disheveled everything as they left.   The childishness is usually copied and what a perfect scenario we have here as the Democrats are pushed out to allow the other side to come in.   This would be a perfect time to trash the papers so blame can be placed between the two gangs who bow to the same Gods of money printing.   Of course this could be a delusion from my cynical mind,  but it’s the only thing I got since reality and common sense hasn’t been of any use.

Still,  we sit and wait as the money printers seem to be losing control again,  but they’ve been so good at kicking the can down the road,  we’ve decided to let them give us other signals before we get too excited.   You know,  like letting the Precious Metals go to their natural highs.   So we keep our Precious Metals,  our Long Call options,  and Crypto’s close,  and as always,  we remain firm in our convictions as we end our daily missive asking you to always … Stay Strong!!

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

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