Your Weekly Podcast
A little something different this week. As a change of pace, I'm the one getting interviewed. I spoke yesterday with Alasdair Macleod of GoldMoney and I think you'll enjoy listening in.
The link to the interview is right here:
But it's also available on Youtube:
Just a couple of other things before we call it a week....
As it turned out, the week is ending almost exactly as predicted last Friday and again yesterday. The RSI indicated an oversold condition yesterday and, after some brief BLSBS shenanigans, the metals have turned higher. Gold has traded as high as 1609 and has since pulled back to 1605. Not quite 1618 but it's not 1575, either. Silver is almost exactly in line with the prediction from the previous thread. It peaked at 27.75 and is currently 27.65. Not too shabby and it sets us up for what will be a very exciting week next.
As mentioned above, the NFP numbers this morning threw nearly everyone for a loop, at least initially. Then, once folks were able to "look under the hood", they discovered that things aren't quite so rosy. ZeroHedge opened the door ( http://www.zerohedge.com/news/seasonal-and-birth-death-adjustments-add-429000-statistical-jobs) and then Jim Quinn kicked it down ( http://www.theburningplatform.com/?p=38358).
Crude oil is really cooking today and must be watched closely next week. I've got the October crude pushing $92 as we head into the close. A move above the highs from late July near $93 and we'll see crude sets its sights upon $100. Obviously, $100 crude would have an impact on the metals.
This week's CoT is going to be very interesting. Once I see the numbers this afternoon, I'll add some thoughts in the comments section of this thread, so please look for that sometime after 3:30 EDT.
Lastly, "Turd's Army" just completed another stellar month under General Maguire's leadership. We know that it can sometimes be a logistical challenge to perfectly mimic Andy's trades and we're working on that. In the meantime, some folks have chosen instead to simply trade in larger size. I found a thread at goldismoney.com where the service is being discussed. Please check it out. (If you're interested, August would be a fine time to consider a trial membership.) http://www.goldismoney2.com/showthread.php?33861-4-month-results-after-using-Andrew-Mcguire-service&p=407494&posted=1#post407494
And here's the link to the service: http://www.coghlancapital.com/daytrades-application?ak=turd_army
Lastly, I promised you a wild week this week and it certainly was. Not surprisingly, it turned out almost exactly as we expected. Next week, however, promises to be very exciting as well. I urge you to take the weekend to relax and rest. The summer is getting hotter by the day and you need to be ready for whatever lies ahead.