Thoughts on Markets

Tuesday, August 26, 2008

Options Expire This Week

This graph gives a bit of hope for the mining stocks. It was included in Casey's Daily Resource Plus. We can take some confidence (maybe hope) from the past performance of the HUI.

Many of our questions about the precious metals prices should be answered after the closings of options reported, as follows:

The August options expire this week (Comex options on Tuesday and most over-the-counter options on Thursday). So do not be surprised if the gold cartel tries to pound the metals some more to get the lowest possible price on option expiry. In that way its members can earn the highest possible amount of premiums on the options they have shorted, repeating the same pattern we have seen so many times in the past. - James Turk, - 24 August 2008

Both gold and silver have been on wild rides of late. Gold is now at 820.80 and silver at 13.58. The rest of this week on into next week should give us an indication of the fall action of our precious metals.

All is in the hands of King Jesus, so we will wait and see what He reveals to us in the next few days.

Best to each, Doug


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