Replies to post #12422 on Mostly: Classical

[amarksp]

Hartman

"For now I believe we are in the calm before the storm. With the Holiday Shopping Season upon us, nobody wants to tip the apple cart. Everyone needs to make their numbers over the coming two weeks as we close out the year. Foreign governments don’t want to jam us up right now because they want their exporters to sell all of their goods to holiday shoppers. Once the spending dries up after the first of the year, it will be time to play some global hardball in the currency pits. I believe the gloves come off after the first of the year and we’ll get a better idea of just how vicious the currency and trade wars are going to be.

As it stands, the report today clearly demonstrated a waning appetite for U.S. assets by foreigners. In January I fully expect Treasury prices to come tumbling lower because we have a huge quarterly debt re-funding that is scheduled to take place February 8-10. The last number I remember reading was $157 billion the Treasury will need to borrow during the three-day auctions. In the last 10-year auction foreign investors only bought 9.6% of the offering when they usually buy closer to 45% of the debt. It looks to me like the U.S. will have to offer higher yields in February to sell the huge load of debt. I’ll be looking for my entry point to short bonds in the very near future."

http://www.financialsense.com/Market/daily/wednesday.htm

[Frank Pembleton]

TECHNICALS - COMEX/NYMEX metals technical indicators

 
  
                  GOLD  SILVER  PLATINUM  PALLADIUM   COPPER  
                   FEB     MAR      JAN      MAR       MAR  
                  <GCG5>  <SIH5>  <PLF5>    <PAH5>    <HGH5>  
 Close Dec. 23   $442.90  $6.915  $840.20   $188.45   142.25  
 High             444.00   6.975   845.00    189.00   142.50  
 Low              440.80   6.835   833.50    185.00   139.60  
  
 5-DAY M.A.       442.80   6.869   841.60    184.99   141.88  
 20-DAY M.A.      446.00   7.271   850.80    197.99   139.01  
 50-DAY M.A.      438.20   7.349   849.70    210.37   134.78  
  
 9-DAY R.S.I.      53.84   48.35   52.55      52.15    62.53  
 14-DAY R.S.I.     50.75   42.59   48.22      42.66    61.10  
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 Note: Data calculated from previous close. Previous high and  
 low include ACCESS trading from previous session. Indicators  
 are based on the time periods recommended by their developers  
 or commonly used by technical analysts. Moving averages are  
 simple moving averages. RSI formulas include a smoothing factor  
 utilizing an exponential moving average (EMA), determined to be  
 the industry standard. All calculations can be made using  
 Reuter Graphics or Reuter Technical Analysis products.  
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 Contract High     458.70   8.280    908.00   250.00   145.60  
 Contract Low      331.50   4.850    759.00   170.60    74.40  
 First Notice Day  Jan 31   Feb 28   Jan 01   Mar 01   Feb 28  
 Expiry Date       Feb 24   Mar 29   Jan 26   Mar 29   Mar 29  
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            BULLISH CONSENSUS ON December 21:   24 Month Range  
                                                   Low   Hi  
 Gold           73 from 71 on December 14           13 - 91  
 Silver         61 from 57 on December 14           13 - 89  
 Platinum       65 from 63 on December 14           14 - 95  
 Copper         73 from 66 on December 14           08 - 88  
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 * Bullish Consensus, Copyrighted, Market Vane Corporation