Triple Witch Day, Patience, and the surprise rally in Precious Metals

The US Dollar is always pushed higher when the Fed chairman speaks in public,  regardless of how confusing her words are.   The Dollar trade now stands at 89.145,  down 17.6 points after charging up to 89.595 during the London trade.   Of course the Dollar wasn’t the only thing supported during the bullshit spewing from those with the control of the printing presses,  however,  the Treasuries wasn’t one of them as the Triple Witch Week rollovers continue with the 30 Year Bond breaking thru its life of contract high created back in Oct this past Tuesday and has been tracking lower since.   The Federal Reserve can only change words but not the direction as we’ve hit the bottom of the cesspool because there is no way out of our dilemma without sharp and heavy pains caused by an over printed and unwanted US Dollar that will come home in a flash in our future.

The Energy Sector may be doing a dead cat bounce as we see a slight recovery in Crude Oil’s price with its trade at $58,  up $1.53 with the byproducts trading higher as well.   This political move should be remembered 6 to 8 months from now when all the jobs that were barely hanging on are released because the firms can no longer afford employees or Obamacare (which should really be named HillaryCare).   The damage will be hard to recover from,  but we’re Americans!   When the shackles of political tyranny are broken,  our creativity will make us flourish,  remember the Wright Bros. created the airplane in their garage.

Gold is doing amazing things today with its trade at $1,208.10,  up $13.60 close to its high of $1,213.90.   Overall Open Interest now sits at 374,948,  a drop of some 3,112 contracts which we think were shorts getting out after they pushed the prices lower for the FOMC embarrassment.   December’s OI is at 765,  a drop of 6 contracts as 7 buyers received their receipts for physicals.   Silver is trading higher as well with its current price at $16.16,  up 23.2 cents on a day when the norm is usually down heavy because of the Triple Witch Day.   The Overall Open Interest in Silver is at 146,817 contracts,  with lots of room for buyers to come in.   December’s OI is at 101 contracts,  a drop of 79 contracts with only 5 receipts being delivered.   Admittedly,  we are surprised at the rally in price as those of you who read my missives know,  Triple Witch week has the deepest price reductions on Thursdays.   Is this the change we’ve been waiting for?

Bitcoin,  the leader of the new international currency of the free minded people,  is still being leaned upon with its trade at $315.40,  down $4.90 and inside a 24 hour trading range between $340.30 and $305 with most of the drop happening during London’s little play period.   We’re still watching out for our thesis of price control by the banksters who are obviously losing control of their own fates.   The Market Cap for Bitcoin is at $4,275,144,358 as of this morning with a dollar volume of $45,450,100 with available supplies of 13,620,575 bitcoins.   This is far too small of an amount to transact international business with but is a damn good savings currency against all fiats.   Ripple Coin is still climbing with its current price at $0.027149,  after reaching up to $0.0278268 before coming down.  Still the trade is up 2449 points from yesterday with its market cap at $838,385,703 with a drop in its 24 hour volume of $3,952,100.   We’re still impressed as we have yet to find anyone accepting the Crypto for purchasing.   Regardless,  someone or thing,  is coming in with millions upon millions of fiat currencies making us think we may have something here of real value.   Finally being ahead of the crowd is paying off.

Grains are elevated across the board,  Softs are mostly higher with Cotton the only exception,  and the Live Stick Sector continues to lose value with Feeder Cattle having a 5^th day of lock limit down moves.   Nothing to fear,  as usual,  for the Twisted Sisters of Paper still have the Working Groups hands up their err … backs .. telling those that take their Prozac regularly to simply buy every dip regardless of the realities.   Today’s little picture is for you as the Prozac kicks in.   Everything’s fine in the land of fiat,  even though more and more of the younger working class (who are supposed to be buying homes) is living in their parent’s homes (47 to 48% as per Dr. Robert’s,  former Treasury Official for Pres. Reagan) with even more people living off of what used to be called food stamps.

We’re closing out the worst week for Precious Metals called the Triple Witch Week,  with a surprising rally on the day the metals are usually hit the worst.   If this positive day remains intact,  it could spell change in the overall view for everything.   Next Monday is when the new limits are put into place,  during the most quiet period in the markets,  The Christmas Week (I celebrate Christmas and I won’t be offended if you wish me a Happy Hanukkah or Kwanza).  So keep those Precious Metals and Cryptos close to the heart 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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