The day started off negative but Gold blows thru to newer highs

The last day for the December US Dollar is upon us with the trade at 88.140,  down 54.2 points and 10 points off its low so far.   A few hours from now the March contract will be the quoting point for all the talking heads including me.   Treasuries show support in the early morning as we may have gotten a clue as to what caused that Oct 15^th spike in the 30 Year Bond as word is coming out that both China and Russia have been dumping US Equities to the tune of $27.2 billion in the month of October.   This was the biggest dump yet by foreign holders and may be the reason for the Rubles currency collapse that will eventually fail our nations people because of the dumping’s in response.   http://www.zerohedge.com/news/2014-12-15/china-russia-dump-us-treasurys-october-foreigners-sell-most-us-stocks-2007.  Also of note Russia just raised it;s interest rates to 17% http://www.zerohedge.com/news/2014-12-15/russia-shocks-emergency-rate-hike-boosts-interest-rate-105-17

The Energy Sector continues to fall into the rabbit hole with the leader of the pack,  Crude Oil,  leading the collapse with the trade at $54.45,  down $1.46 and making a new multi-year low as the rest of the sector follows suite taking almost all the G7 economies with it.   My guess is the response from the G7 will be to blame someone else and to say,  “Hey,  this is a perfect time for a terrorist attack.”   That fanny pack the Treasury has been handing out should have had a body bag in it.

Gold has steadied after yesterday’s Triple Witch attack during the G7 Currency rollover with the trade at $1,202.0,  down $5.70 from the COMEX close but not the end of the ICE trade which made the low of $1,192.50.   Gold’s low is higher than yesterday’s low (so far).   Gold’s Overall Open Interest is at 375,282,  an increase of 2,174 contracts on a bear attack day.   December’s OI dropped to 803 contracts with no delivery notices being passed out yesterday.   Silver is down as well with its trade at $16.280,  down 28.3 cents with a new low established today at $16.075.   Silver’s Overall Open Interest is at 148,145,  an increase of 1,831 contracts on a bear attack day.   December’s OI fell to 195 contracts as 178 receipts were delivered upon.   That equals 890,000 ounces in a day where the bears attacked the price.   We know no Russia and China are dumping US papers and are buying precious metals and with India’s major increase added to the mix,  we’re seeing a total liquidation of Comex and LBMA precious metals as the The BRICS are rising!!

Bitcoin is getting hammered again and may be something for us to watch in the next Triple Witch Week in March because the Federal Reserve and the Treasury have no control over the acceptance of the Cryptos for international transactions and even though it’s being accepted by more and more companies,  it’s still being hit with the trade now at $335.40,  down $16 inside a 24 hour trading range of $359.30 and $334,  all during the London trading period.   The 24 hour Cash Volume in Bitcoin is at $26,869,500,  too strong to be ignored but still,  people refuse to see the freedom inherent.   Ripple Coin is doing amazing things as we finally see the Crypto Currency blow thru the 2 penny mark with the trade now at $0.020350,  up 2,567 points and it seems nothing is holding it back like Bitcoin.   So far,  Ripple is the best trade of the year,  with the exception of a short positon in Crude Oil and the Energies.   Total 24 hour Dollar Volume has increased to $4,032,850 a major jump and may point to a future news story of acceptance.

Grains are weaker with Wheat the only positive trade,  Softs are mostly weaker as well with Cocoa the only positive,  and the Live Stock Sector continues to look weaker as Feeder Cattle did another limit down day yesterday.  That’s three days in a row for the Feeders and if things are the same as they were in the past,  and if Feeders drop limit down again today,  then they will earn another extended 50% increase in limit moves changing the limits from 300 points to 450.   The Twisted Sisters are having another hard day today after the mention of Russia and China US Paper dumping’s and it seems the only response will be to print more to support less as the mindless buy and hold strategy seems to be dying right in front of our eyes

Still we hold our position of faith in the Precious Metals and Crypto’s as the world starts to realize we’ve been living on borrowed time as well as uncollectable debt.   As we close out our daily missive,  we see Gold has fully reversed its trade and is now at  at $1,218.50,  up $11 with a high of $1,223.90 so far.   The US Dollar is now down 72.2 points at 87.96 as the Currency Wars heat up … So keep those Precious Metals and Crypto’s 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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