Thoughts on Markets

Thursday, March 18, 2010

Industrials Confirm Transportations - Silver Outpacing Gold

Nothing real exciting going on in the precious metals. They are trading at a higher level now, but in somewhat narrow trading ranges. Gold must exceed, close, and stay above 1140 for fireworks to shine for the metals.

Silver is still outrunning gold as this graph shows:
From The Seattle Times:

44 of 172 Detroit schools slated to close in June

Doors are expected to shut on more than a quarter of Detroit's 172 public schools in June as the district fights through steadily declining enrollment and a budget deficit of more than $219 million, an emergency financial manager said Wednesday. Read it HERE.

Sign of recovery? NOT! More of this will follow. I am not fond of government schools. anyway.

From Bloomberg.com:

Deutsche Bank, JPMorgan, UBS Are Charged With Fraud

By Elisa Martinuzzi and Sonia Sirletti

March 17 (Bloomberg) --Deutsche Bank AG, JPMorgan Chase & Co., UBS AG and Hypo Real Estate Holding AG's Depfa Bank Plc unit were charged with fraud linked to the sale of derivatives to the City of Milan. Read it HERE.

These are some of the not for profit players in our precious metals markets.

From Los Angeles Times:

More homeowners are opting for 'strategic defaults'

Underwater on their mortgages and angry at banks, more borrowers are choosing to hand over the keys, even if they can afford the payments. Read it HERE.

It just makes sense to walk away from a home when your debt is much higher than the market price the house will bring.

From MineWeb.com:

BMO forecasts gold, silver, and PGMs to do ‘very well' next few years

BMO Global Commodity Strategist Bark Melek says global growth is reigniting industrial metals, as silver and PGMs are expected to outperform firm and stable gold.

Author: Dorothy Kosich
Posted: Thursday , 18 Mar 2010

RENO, NV -

After a very strong 2009, BMO Capital Markets Global Commodity Strategist Bark Melek, forecasts gold and other precious metals are "projected to do very well over the next several years." Read it HERE.

From MineWeb.com:

Indian gold demand fluctuates on price as wedding season approaches

Indian gold demand still drops on price surges, but picks up on weakness as April wedding season draws near.

Posted: Wednesday , 17 Mar 2010

MUMBAI (Reuters) -

India gold demand retreated on Wednesday afternoon as prices touched a one-week high on the back of festival-related buying, traders said.

This was a reversal of the buying by stockists seen in the previous two sessions as they prepared for the upcoming wedding season, they added.

"Today it (gold buying) is dull as gold prices have gone up with the euro," said Pinakin Vyas, assistant vice-president treasury with IndusInd Bank. Read it HERE.

Miners from Scottrade.com:

Currencies from Kitco.com:

Some current prices: BYDDF 9.75; FVITF 2.437; KENS .02; TBT 46.95; DOW up 19.65 to 10753.55; Gold off 0.60 to 1124.50; Silver off 0.02 to 17.49.

Yesterday was a confirmation day for the Dow Industrials (DOW). They established a new high confirming the recent high of the Transportations. Both were up yesterday and it was a strong day with an increase in the number of new highs. Here is the DOW graph from Stockcharts.com:

A big day on the markets presented to us by our Sovereign God. The question now is will this bull market indication be followed through for the future. We will be watching the market activity rather closely to see what the Lord has planned for us. He will reveal it, but we must be patient.

Best to each, Doug





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