Thursday, February 07, 2008

Charts: dollar, bonds, PMs

Bear Mountain Bull has got a few interesting charts up for us in today's "Chart Chatter" post.

For technical commentary on the US dollar ($USD), 30 year Treasury bond yields ($TYX), and the precious metals, gold and silver (GLD, SLV), head on over and check it out.

Plus, you can always head on over to the Bear Mountain Bull blog for end-of-day commentary on US trading and updates on market news throughout the day. If you're curious to know how things are looking in the markets and the economy, BMB offers an individual investor and trader's perspective. Check it out.

5 comments:

Maria said...

Gary K. talked about bonds, gold and currencies on his radio show too. Interesting interactions.

bmbull said...

David,

Thank you kindly for the mention!

David said...

Sure thing! Thanks for your posts.

Anonymous said...

Good stuff...

Anonymous said...

Again, Good Stuff...

In the three years I've been watching the metals closely (silver at 8 bucks) I've never seen a rally of that magnitude in the face of Dollar Index strength like we saw yesterday (the silver chart's starting to look like soybeans). The Pound is now in a firm downtrend, and could have a long way to go (was at 2.10 against the dollar remember, but was at 1.30 in 2001, now about 1.94)

I guess that's the answer.

There was a ten year note auction yesterday that produced no buyers and interest rate futures tanked. Yields were obviously rising and the dollar was strong, yet metals and commodities didn't back off in their usual fasion. Now today we see new all time highs in beans, severe strength in metals, and crude is up over three dollars. That doesn't spell interest rate hike to me.

I know the ten year chart looks pretty bottomy, but I hate to make that assumption. The trend is your friend and look at the commodity markets.

But... maybe the answer is that the currencies are going to finally start backing off. maybe the dollar stays weak in terms of buying power but strong on a relative basis. Maybe this is the playbook for the second phase of the commodity super bull market???