Canadian Dollar Futures, 30-minute Chart

Sometimes you get lucky. Thanks to a fortunate fill early Tuesday morning, the short I suggested taking in the CD worked out as price gapped lower yesterday. The currency market is a 24-hour market so you have to choose between managing your trades in a sleep-deprived state or just suffering the gaps. I sleep like a baby, a bald baby, but a baby nevertheless.

Gold Futures, Daily Chart

Dollar strength leads to gold weakness. I'd still approach GC from the long side though, despite the large gap it formed yesterday. I'd also be pretty skittish if I got long and would keep a super tight, intraday-based stop. It's most likely that I will just stand aside and watch this market here.

Silver Futures, Daily Chart

Silver is a little more interesting than gold here, and I'd look to get long above 5.17. There's suddenly a lot of interest in Silver Futures if my referrer logs have any value: the number of Google searches for "Silver Futures" exploded late last week. Things can get pretty interesting when Mr. and Mrs. Front Porch USA get hot on a market. (Special thanks to the late Terry Southern.)

Previous Entry >>> Another Look at Nuveen Investments