Wednesday, July 4, 2007

Catalytic Copper?

The Fourth Of July has now come and gone. Our Independence, "questionable" at this time in our history. 60% + of our nations Debt is owned by the Japanese and the Chinese...I'd say that make us pretty dependent these days. What a sad state of affairs...

Cheer up! Gold and Silver are still available at sale prices. Both metals performed admirably on Tuesday in the face of obvious pressure by dem sleazy Rat Bastids on the Comex. "Remarkably", both Gold and Silver were tanked right off the open on Tuesday. An obvious attempt by these weasels to take advantage of the days light volume in New York ahead of the holiday. The Dollar found tepid buying at best Tuesday and the metals in no way deserved the reaction they got at the Comex open.

Silver held the line at 12.46 and Gold held the line at 653. A big round of applause for both. Gold now needs to clear 656 and challenge the shorts at 660. Silver needs to reestablish bullish control of the 65 week moving average and prepare for the Battle royal with the shorts at 12.75.

Is the two month consolidation in Copper ending? Will a breakout from resistance at 350 Monday lead to a new upleg in Copper to test May's 380 high, and could this breakout be the catalyst for a big move up in all commodities and Precious Metals? Time will tell...either it will or the continuing failure of the US Dollar will. The balance of this traditionally light trading week will prove most illuminating. The rest of the World doesn't go on vacation when we do...and it appears the rest of the World is becoming intent upon taking control of the US Dollars fate.

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