The Commodity Research Bureau's TrendTrader is Long Gold, Platinum, Palladium and a new Long position in Silver.
Day traders work for the markets - Trend Traders let the markets work for them, the Trend is your friend!
Metals
Metal prices this morning are higher due to the weak dollar. Dec gold this morning is up +$8.30 after posting a record high of $1,149.60 an ounce, Dec silver is up +34.8 cents at a 16-month high, and Dec copper is up +5.3 cents at a 13-3/4 month high. Metals prices yesterday finished mixed. Dec gold closed up +$0.20, Dec silver closed down -1.3 cents, and Dec copper closed up 0.5 of a cent. Bullish factors for metals prices yesterday included (1) the purchase of 2 metric tons of gold by the central bank of Mauritius from the IMF, another sign that emerging-market central banks are looking to diversify their foreign-exchange reserves into gold, and (2) the 5.5% m/m increase in Sep Euro-Zone exports, the biggest monthly increase since Jan 2008 and a sign of increased industrial metals demand. Bearish factors yesterday included (1) the sharp rally in the dollar, (2) the weaker-than-expected Oct US PPI, which indicates scant inflation pressures at the wholesale level and is bearish for gold demand, (3) the +3,550 ton increase in LME copper inventories to a 6-1/2 month high of 410,000 tons, the eleventh consecutive increase and a sign of slack demand and adequate supply, (4) the smaller-than-expected increase in Oct US industrial production and capacity utilization, which signals weaker demand and consumption of industrial metals, and (5) the weaker-than-expected Nov NAHB US housing market index, which is negative for US copper demand and prices.
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CALL Jay: 312 506 8709
About CRB
The Commodity Research Bureau has been leading the world in commodities research and analysis since 1934. Based in Chicago, Illinois, the firm has been the innovator of the CRB Indices, as well as the publisher of the CRB Yearbook, Encyclopedia, CRB Price Charts, TrendTrader and Futures Market Service newsletters.
About CRB TrendTrader
In 1963, the Commodity Research Bureau developed a computerized trading system for the purpose of removing the emotional human element from market forecasting. Since then, countless trading programs, timing theories, and techniques have been designed and popularized by an even wider universe of individuals and companies for the purpose of "beating" the futures market. Yet, today, CRB's TrendTrader remains one of the oldest and most respected technical daily market letters.
TrendTrader system analyzes four different technical studies to categorize markets as trending up, sideways, or down. These four studies are a combination of moving average, price volatility, market momentum, and various time cycles. Support and resistance levels are recalculated daily and serve as "stops" when the market is in a trend phase and mark the breakout levels for new up or down trends when markets are in a sideways mode.
The system is for medium to long-term trading and is designed to maintain positions throughout minor and medium-term corrections. TrendTrader tracks over 90 markets, including foreign exchange (FX), stock indices, exchange traded funds (ETF), interest rates, metals, energies, grains, meats and foods & fibers.
CLICK HERE: Special Offer: $99 13 Week Subscription.
CALL Jay: 312 506 8709
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