What’s Up, What’s Down: Grains in Spotlight
Comments for Thursday, November 4, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors.
METALS:
Higher closes for copper but lower for silver, gold and platinum. All of the metals continue to be in strong uptrends acting like they will test their highs. Silver and gold had huge ranges in very volatile action which could be indicative of a retracement in the making but it’s too soon to tell technically. Gold continues to lag behind due to silver/gold spreading in my opinion due to the strong indices. Platinum also has a large range but, like the other metals, is in a strong uptrend overall. BUY SIGNALS FOR COPPER, SILVER, GOLD AND PLATINUM. CALL FOR DETAILS! [NOTE: these charts do not include Nov 4 price action].
Special Note for Cotton Traders: The daily price limit for Thursday, November 4, will be 5 cents.
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.