With triple witch week just about over, veteran trader J.B. Slear believes precious metal markets will resume their uptrend next week.

Regards - VHF

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Currency Roll Over To Occur on Monday

J.B. Slear

September 16, 2011

US$ is rallying with the trade at 76.655 up 38.8 points near its high of 72.720. Not that there’s anything wonderful happening at the G7 meeting of chronic and habitual liars club, but because short traders in the currency have to be out by Monday or they take delivery, one has to buy back his/her shorts in order to do this. After all who wants to hold a currency that’s in mass production, beyond the point of saturation and is solely being used to buy up our Treasuries? M1 is at 36% with M2 close behind…Treasuries are not showing the support anymore (as of yet) in the short term, but is showing trace amounts of support in the outer years. Energy Products are mixed to lower, Gold is higher by $9 with the trade at $1,790.40 the high so far is $1,893.90. Silver is higher as well with the trade up 65.4 cents at $40.155 with a top at $40.250 so far. Grains are higher as well with the exception of Oats, Soft are higher as well with its exception of Sugar, all Meats are trading higher. Paper Markets are back to dismal again but not sharply lower as of yet. Triple Witch Week is just about over which means the leaning on Precious Metals is over. As of Monday 12:20pm (Chicago) close of Currencies, leads up into watching the Dec contract of all currencies. The weakness in the markets seem to have waned, but we believe the bigger moves in metals is still coming, and right after the currency rollover… Enjoy your weekend and as always … Stay Long and Strong!!