Patience is a virtue 2/25/9
The setback in gold and silver is in day 2 as it appears there is some more downside; see previous posts. We continue to expect the inverse relationship with equities and metals and if the market can get a clearer picture from Obama and the gang we would expect equities up and metals down. We own March 800 calls for clients as well as long futures from 763 looking for a bounce albeit short covering in the S&P. We have 2 seasonal trades we are very excited about in energies. In June crude oil and in May natural gas. Contact us for exact details and an explanation on how we are positioning. The Loonie is in the process of shaking longs out but we will stay the course, add to the postion and get new clients in this trade expecting 500-1000 points higher by Easter. Keep stops in the Swissie at 85 and be prepared to take a loss, cannot win em’ all. If US dollar index trades above 89 prcies should move higher so stay alert. Corn closed above the 9 day moving average today; we are building long positions for clients and expect higher trade. Short the March 10′ Euro-dollar on any advances, additionally we will be adding to the positon on a trade below 98.20. OJ has been higher for 3 days in a row so keep on radar. Lean hogs advanced today and again is exhibiting signs of a bottom.
Tags: calls, commodity, corn, crude oil, euro-dollar, futures, gold, gold:dow ratio, lean hogs, Loonie, natural gas, Obama, oj, options, puts, seasonal tendencies, short covering, silver, stock market, swissie
