Last week I released my 4th Quarter Commodity Outlook and a special report that forecasts the imminent collapse of gold and silver. The report is 30 pages of market analysis covering energies, softs, metals, grains, financials, and meats. It is still available for 50% off by visiting http://commodityoffers.com/mega-forecast4.html - the offer expires October 18th.
Financials
Stocks are currently in an extreme overbought condition and lacks volatility or volume during this rally to indicate that it will sustain this move. I anticipate a selloff and in this week’s Mound Trade Signals service I will be issuing a trade recommendation to play this forecast. Bonds remain weak and I recommend a deep out of the money put with loads of time on it. The dollar rallied above monthly trend line support and appears to have made a bull turn, although a quick test of last week’s low is not out of the question. Regardless, I expect a dollar rally to at least 83. The Japanese yen remains a strong buy as the intervention did little to thwart the overwhelming global demand for this currency on the move. I continue to stand by my forecast that:
**Chart courtesy of Gecko Software's TracknTrade
The Canadian dollar and Aussie dollar both made attempts at par against the U.S. dollar, but turned bearish with strong selling expected in both markets this week. Puts remain great play in the Canadian December option chain and I recommend straight puts to capitalize on the anticipated selloff. The euro and pound are strong sells.
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