Category Archives: Silver Futures (SI)

Silver Futures (SI)

Hmm ohh, one of those days

There are a few moves which don’t make much sense to me today, but after the run-up we’ve had a -0.5% doesn’t seem that painful.

The first wild swing which jumps out at me, is gold; but its true for silver and commodities in general today. How do I make sense of a 4% drop in gold? Trading was even halted for 10 seconds! One explanation might be that banks holding JGB have capital requirement issues, the recent volatility might be sending sellers to the gold teller. Goldman’s prediction of gold at 1200 didn’t help, but that’s been out there for a few days. Or it might be that Cyprus is coming under pressure to sell gold for it’s bailout, this I doubt is having any impact. $400 million sold into the market slowly couldn’t account for the slide we’ve seen.

Gold and 10 Year Bond Futures

And the 10yr bond futures are climbing, what’s up with that? It’s just rising, hanging out on an upswing. Something looks fishy to me. The VIX is effectively flat. So what’s going on here? JPG players are selling gold to buy the US 10 yr and option players don’t see much downside risk in the S&P? What about the weak sentiment numbers and lousy retail sales numbers? There’s a fair amount of risk out there.

Today is one of those, ‘hmm, ohhh’ days. My only expectation is that we’ll touch the 61.8% fib (1542 – 1592) on the S&P by close, but being one of those days… Who could say? Maybe she’ll ride into the close on the 76% which is where she’s at presently.

Pre-Market Indicators October 12th, 2012

Good Morning NY.

The CBOE Equity and Index put-call ratios are updated, here. The ratios are strikingly balanced, Equity at .65. It has been lower 39.69% of the time, and Index at 1.14 which only has been lower 29.54% of the time since June 2011.

The markets look green, and feel flat.

On tap: PPI, Core PPI, Michigan Sentiment, Treasury Budget.

  • EURUSD (1.2914) + 0.31%
  • Gold (GC)  + 0.41%
  • Oil (CL) + 1.00%
  • S&P (ES)  + 0.37%
  • CAC40 + 0.65% 
  • FTSE + 0.53%
  • Asia (NKD) + 0.47%
  • Copper (HG) + 0.73%
  • Silver (SI) + 0.48%
  • VIX: Close 16.29
Pre-Market Indicators - PMI111012

Pre-Market Indicators October 11th, 2012

Good Morning NY.

The CBOE Equity and Index put-call ratios are updated, here. The ratios are still interestingly divergent, Equity at .71. It has been lower 63.89% of the time, and Index at 1.02 which only has been lower 14.51% of the time since June 2011.

The markets look green, and feel green.

On tap: Initial Claims, Continuing Claims, Trade Balance, Export Prices ex-ag, Import Prices ex-oil and Crude Inventories.

  • EURUSD (1.2914) + 0.31%
  • Gold (GC)  + 0.41%
  • Oil (CL) + 1.00%
  • S&P (ES)  + 0.37%
  • CAC40 + 0.65% 
  • FTSE + 0.53%
  • Asia (NKD) + 0.47%
  • Copper (HG) + 0.73%
  • Silver (SI) + 0.48%
  • VIX: Close 16.29

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Pre-Market Indicators - PMI101012

Pre-Market Indicators October 10th, 2012

Good Morning NY.

The CBOE Equity and Index put-call ratios are updated, here. The ratios are interestingly divergent, Equity at .73. It has been lower 70.59% of the time, and Index at 1.07 which only has been lower 18.58% of the time since June 2011.

The markets look red, and feels weak.

On tap: MBA Mortgage Index, Wholesale Inventories, Treasury Budget and the Fed’s Beige Book.

  • EURUSD (1.2868) + 0.01%
  • Gold (GC)  – 0.19%
  • Oil (CL)  0.01%
  • S&P (ES)   0.02%
  • CAC40 – 0.07% 
  • FTSE  0.34%
  • Asia (NKD)  1.09%
  • Copper (HG) + 0.03%
  • Silver (SI) – 0.19%
  • VIX: Close 16.37

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Pre-Market Indicators - PMI091012

Pre-Market Indicators October 9th, 2012

Good Morning NY.

The CBOE Equity and Index put-call ratios are updated, here. The ratios are new-normal, Equity at .55. It has been lower 8.39% of the time, and Index at 1.28 which has been lower 44.72% of the time since June 2011.

The markets look flat, and feel flat to green, with earnings season kicking off and Angela in Greece.

On tap: nada

  • EURUSD (1.2951) – 0.13%
  • Gold (GC)  + 0.10%
  • Oil (CL) + 0.95%
  • S&P (ES)  + 0.17%
  • CAC40 + 0.28% 
  • FTSE  0.22%
  • Asia (NKD)  0.85%
  • Copper (HG) + 0.36%
  • Silver (SI) + 0.13%
  • VIX: Close 15.11

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Pre-Market Indicators - PMI081012

Pre Market Indicators October 8th, 2012

Good Monday Morning NY.

The CBOE Equity and Index put-call ratios are updated, here. The ratios are low-new-normal, Equity at .67. It has been lower 48.60% of the time, and Index at 1.03 which has been lower 14.95% of the time since June 2011.

The markets look red, and feel red with no headline movers on tap.

On tap: nada

  • EURUSD (1.2947)  0.67%
  • Gold (GC)   0.59%
  • Oil (CL)  1.57%
  • S&P (ES)  – 0.43%
  • CAC40 – 1.24% 
  • FTSE  0.56%
  • Asia (NKD)  1.18%
  • Copper (HG) – 1.68%
  • Silver (SI) – 1.95%
  • VIX: Close 14.33

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Pre-Market Indicators - PMI051012

Pre-Market Indicators October 5th, 2012

Good Friday Morning NY.

The CBOE Equity and Index put-call ratios are updated, here. The ratios are low-new-normal, Equity at .58. It has been lower 15.94% of the time, and Index at 1.12 which has been lower 26.25% of the time since June 2011.

The markets looks green, and feel flat, waiting the headline mover, Unemployment Rate.

On tap: Nonfarm Payrolls, Unemployment Rate, Hourly Earnings, Consumer Credit, Average Workweek

  • EURUSD (1.3012)  0.03%
  • Gold (GC)  – 0.13%
  • Oil (CL) – 0.96%
  • S&P (ES)  + 0.15%
  • CAC40 + 1.04% 
  • FTSE + 0.59%
  • Asia (NKD) + 0.34%
  • Copper (HG) – 0.07%
  • Silver (SI)  0.24%
  • VIX: Close 14.55

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