To all; we are witnessing an explosion in the metals and shares today, I believe this is the beginning of the discounting phase. The markets discount future value ahead of time and I believe the metals are beginning to discount just how much new money and credit will be hitting the market. Gold is doing better vs. foreign currencies than the current +$40 move in Dollars. The exciting aspect of this is that Gold is now taking charge as the premier currency on a global basis. Going into a Friday strong has not been the norm, it looks to me like the game has changed! It will be very interesting to see what happens next week but my guess is that we have “game on” and anything metal related gets gobbled up from here.

As I’ve said before, keep your eye on the Treasury market and the financials, the Treasuries continue to look like they have made a top and the financials continue to weaken. Sit tight and do not entertain trading at this point, the only thing you could do now by trading is to make a mistake. It has become clear that the “Austrian school of economics” has been correct all along and if you have metal positions you have already won, just sit back and let the market reward you for your perseverance. What you knew all along, that Gold is the ultimate safe haven will now come front and center. Have a nice weekend, regards, Bill H.