I do not like the fact that the metals are having such a strong run ahead of the release of the Fed minutes this afternoon. IF this is ‘everyone’ trying to front-run the announcement, and pushing to get in the door ahead of the news at 2:15, as I have done, and said we could, then my confidence is rapidly declining. If this is the crowd trying to be in metals for a pop following the announcement, it’s far less likely to happen… far less likely. I don’t like this one bit. If there is some other fundamental reason pushing the metals prices, then I would be fine with that. But, if it isn’t… I fear this will fall apart.
If you can find any reason at all for what is taking place in the metals markets this morning… by all means, please share!
If I cannot learn of any good reason between now and 2:15, and the prices hold, or should rise even further… I just might start taking some profits by around 2:00!
There will be no winning this one! Here’s why. If everyone is front-running the Fed, now expecting their news is going to be to hold, or raise a 1/4 point, and wait and see; then everyone is likely wrong, and the Fed news at 2:15 will crush the markets. But, on the other hand, if news has been leaked… then, the rumor has flown out there that the news today, from out of yesterday’s Fed decision Tuesday will be very favorable, and those that got in overnight and this morning ‘knew’ in advance. Like I said, there is now no winning this one. Whose got any intelligence to share on this conundrum?
Here’s to your accumulation of real wealth!
Harold F Crowell