Written Commentary
GOLD / SILVER
Shareholder activism has clearly increased interest in the Silver “SPACE” with silver futures, coins, bars, Silver I-Shares, and First Majestic Silver shares seeing a speculative buying surge. Apparently one thread on REDDIT’s Wall Street bets saw 10,000 votes for silver as a short squeeze candidate. Keeping in mind that silver trading globally and in many different forms should make it difficult for a concentrated wave of securities speculative buying to move the world price of silver.
PLATINUM / PALLADIUM
We see the path of least resistance pointing up in April platinum and expect to see volatile hard-fought gains and or significant upside gains with volatility ahead. With a multi-week high Friday rejected aggressively and palladium showing divergence with platinum recently we do not include palladium in the potential wave up category like silver or platinum.
COPPER
The copper market has started the week in a negative chart set up with disappointing Chinese January PMI data providing additional demand related selling. In fact, analysts overnight labeled the official PMI reading from China as a report that gives credence to the idea that the Chinese recovery is waning.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
