Wild ride in the commodity markets again this week. Semms like every day traders are trying to figure out if Gold is a flight to quality, or a new asset class. Gold finishes about $11 lower on the week. Silver has taken on a life of its own. A $1.oo move used to take a year, now its a daily event. Trading ranged from a dollar lower to 1.35 higher and settles the week near the highs 1.20 higher. Grains all retreated from recent highs. Cotton pulls back for the week after daily reports of India opening up curbs, then not opening curbs. Goes from limit up Thurs to limit down Friday. Sugar also routinely having 100 point daily ranges. After lots of movement it finishes a few ticks lower on the week. Volatility is back in a big way and traders probably need to cut down size and increase stop size or risk being chopped up and stopped out all day long. Big game season opens in the Catskills this weekend. Good luck to all.
Jerry S.
Cotton
Final hour of trading here. Most commodities are closed for the weekend. Sugar put in a new high today at the top of a huge move up over the last 3 months. Cotton also up another 3 cents today on decent volume, and another surge in the metals puts silver in striking distance of recent highs of $24.95. Next week should be very active with elections on Tuesday and QE2 details on Wed. Headed up to the catskills for some much needed R&R . Everyone have a great weekend.
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