Sunday, March 24, 2013

Precious Metals and rampy currencies

The USD index made a massive move on Sunday, a spike down and reverse.    Not as many stops were hit as I would expect.   That is odd.   Gold and Silver spiked down also, and they normally move opposite to the USD.   Perhaps this signifies a "fear is all clear" on Cyprus issues.

In my book, that is a false sense of security.    The precedent of bankers directly robbing the customers deposits is HUGE.

Gold, Silver, Platinum, Palladium all look quite bullish to me technically.

Cyprus remains a wild card, it appears the powers that be think they can get away with it.

Europe threatens to kick them out of the Euro unless it is settled Monday, today in the US.  Average US person---well the stock market didn't crash, therefore that small country must not be important.

Funny how Cyprus was completely off the radar until it was center of radar.

And the EUR / JPY is very rampy after its huge drop followed by a complete gap fill.   After the initial short, I tried a few more shorts and fortunately gave up on that.    Market do like to "tire you out", ramp around, let you take the eye off the ball, and then WHAMMO!    Big move

Time will tell, perhaps I set some "sell below" orders on EUR/JPY

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Insightful and Useful Comment!