| Dear Andrew,
Metals eased in overnight activity following a Chinese economic report that stated inflation is at the lowest level in 5 years.....More stimulus will likely be needed....At the same time Euro-zone finance ministers will be meeting with Greece today to see what kind of concession the Greeks want this time around.....The fact that the EU is even entertaining any changes already agreed to by the Troika of the IMF, the European Union, and European Central bank, seems to be calming investor nerves....It is a game of global chess....... As for the metals, Silver is off 24 cents to $16.87......Gold is $4.00 lower at $1238.00.......Palladium is $781.00 down $2.00 per ounce.....Platinum is $1217.00 off by $5.00.....We cannot help but note that Platinum remains cheaper than Gold for the moment.... In currency trading the Euro is down a little more than 4/10ths of a cent against the Dollar....The Finance Ministers meeting is the catalyst, not to mention weak Chinese inflation....... Crude Oil is down by 81 cents per barrel in the wake of China's data......We also get inventories tomorrow, so we might also be getting a bit of pre-data portfolio trimming to boot...... In stock market activity, Japan finished lower by a third of a percent......Shanghai was up 1.51%....Hong Kong closed flat.....In Europe most markets are higher by a third to a half percent....London is our lone exception with the FTSE down a half percent.....In New York the Dow looks to open 22 points higher....Yesterday the Dow lost 95 points.....That's about it for this morning..........i urge you to call with questions, comments, or for current strategies....Please feel free to have friends and family members call me in order to be added to my mailing list, if if appropriate.....Thanks |
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