The following comments were emailed to Myra P. Saefong, Financial Writer at Marketwatch.com, at 9:34 A.M.
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If there was any doubt about the health of the Precious metals complex today should certainly erase that doubt. APR Gold is looking to post a new closing high for the contract, the previous high being 576.80. If this should occur, then a swift rally to the $600 area would most likely follow. MAY Silver continues to rally in anticipation of the launch of the Silver-based ETF. It will be very interesting to see whether Silver be be able to maintain these lofty levels once the IPO comes to market. I'm skeptical and I expect a setback in Silver after the ETF is launched. I also expect to see the volatility in Silver rise in the interim. Copper, which I like to call the "ol' man river" market because it "just keeps rolling along" - HIGHER!!! What a magnificent market to trade. Not many surprises here as the market now seems to be targeting the $3.00 level. Only time will tell whether the market has what it will take to reach that lofty level.
Dale F. Doelling
Chief Market Technician
Trends In Commodities
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