Category: metals
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Metals Complex…a Rebound Underway
I follow and have the ability to trade 5 different metals…in no particular order gold, silver, palladium, platinum and copper. For the most part I am most active in gold and silver with clients, use copper to help navigate other trades interpreting the overall breadth of the economy and rarely do clients trade palladium and…
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The Option Queen Letter
Happy Birthday America! We certainly have come a long way in our 237 years as a nation but have back peddled quite a bit in recent years. This country, a melting pot of immigrants, was founded as a place where freedoms would be preserved. Our history shows that for most of our existence we remained…
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Silver – A 7% Reversal as of this Post…Today
In the last 9 months one could have born a child and within that same time frame silver prices are lower by 44%. Bears have been in the driver’s seat with a few exceptions but is that about to change? Can you say R-E-V-E-R-S-A-L? At 8pm last evening est. September silver futures were trading at…
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Nurse Copper is Checking the Global Economies Temperature
Media pundits typically refer to copper as “Dr. Copper” as its price action is used to deduce the overall health of the economy but in the age of equality…it is 2013 today let’s refer to copper as “Nurse Copper.” Prices are down 10% from levels seen 6/5 when we started to roll over but two…
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Bearish Engulfing Candle in Gold
Energy: All yesterday’s gains were given back in Crude oil today with losses of 1.75% putting prices under $92/barrel. The 50 day MA has capped upside the last two sessions and until July gets above $94 expect sideways to down action. Above $94 I am a lot friendlier. I continue to trade my bias on…
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Gold takes an Additional 10% Drop
Gold spent the last 2.5 years in an undeniably obvious uptrend, supported by the white trend line shown below. This of course changed quickly this year as gold prices broke below the trend line… then the 100-day moving average (red)… then the horizontal support at $1,550 (red line). Gold sentiment has changed dramatically… more on…
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Copper, Listen to the Doctor’s Diagnoses
Copper prices have been establishing a base in recent weeks rocketing higher today, as of this post higher by nearly 6% as futures approach three week highs and previous resistance. July futures are 25 cents of their lows from Wednesday which represents ($250*25) or an appreciation of $6,250. Being the margins is only $3,410 that…
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Gold & Silver, Not as Precious as Last Week
To say that “serious damage” has been done to the metals complex… well, that’s the understatement of the year! This is the quickest, most prevalent drop I have experienced in my career. In the words of Mohammed Ali, “float like a butterfly sting like a bee.” Consider yourself stung. It was good while it lasted.…
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Silver, $26 is the Line in the Sand
The $26 level has acted as silver’s support for over two years now. And after a 10% slide over the past three weeks, including today’s 6% drop, we’re once again challenging this all-important line in the sand. Will $26 hold this time? Maybe not… yet I remain a long-term silver bull and see lower prices…