daytrades july 7 afternoon, page-155

some articles - useful in planning next moves on copper and gold and what to watch out for. dow and $us are factors here. riding wave up for now and then out hopefully on spikes and then back in.

Endless date of 2 aug looming large. gold shares may fall if $us becomes a safe refuge. saw it in gfc and just had to wait for gold to spike and then gold equities were first to rise. trap if go straight into goldies which is what we saw starting today. today is start of first quarter. 4 more weeks to run.


Market Nuggets: MF Global: Recent Commodities Bounce Could Be ?eBull Trap?f

07 July 2011, 9:28 a.m.
By Kitco News
http://www.kitco.com/

(Kitco News) -- MF Global, in its monthly outlook, questions whether a recent bounce in commodities as a whole will be sustained over the next month. Commodities tumbled in the first half of June when investors were spooked by the European debt crisis, before a stronger tone set in after measures to stabilize the Greek situation, coupled with improving macroeconomic readings in the U.S. and Japan. ?gWe think the current bounce we have been seeing in a number of commodity complexes since late June is suspect and could be a ?ebull trap,?f?h says MF Global. Analysts cite the potential for default in Greece, plus the ?gtorturous?h budget/debt-ceiling talks in the U.S. that will likely keep markets on edge before Aug. 2, when the government technically runs out of money. MF Global also lists a cautious tone on the economy, high oil prices that could prompt central bankers to hike interest rates, and reduced fund interest lately in the commodity complex.

By Allen Sykora of Kitco News; [email protected]



Market Nuggets: MF Global: Gold Could Struggle Yet In July As Dollar Gains Momentum

07 July 2011, 9:28 a.m.
By Kitco News
http://www.kitco.com/

(Kitco News) -- MF Global looks for gold to ?gstruggle somewhat?h for the rest of July as the ongoing debt crisis in Europe begins to benefit the U.S. dollar. ?hIn addition, we could see the dollar rally by late?]July, which is when we expect a budget resolution to come out of Washington, further increasing pressure on gold,?h MF Global says in its monthly commodities report. ?gLook for a retest of $1,480 support over the July?]August timeline, with $1,560 being resistance.?h For silver, MF Global looks for a trading range of between $33?]$37 for the next few weeks.

By Allen Sykora of Kitco News; [email protected]