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THE LOONIE WATCHER (Copyright 2006)

THE LOONIE WATCHERS COMMENTARY FOR FEBRUARY 13, 2006














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THE LOONIE WATCHER’S COMMENTARY FOR FEBRUARY 13, 2006
















THE LOONIE WATCHER’S COMMENTARY FOR FEBRUARY 13, 2006

The market close on February 13, 2006, showed that the market conditions influencing the Loonie and the $USD are in flux since from our last commentary (Feb 10, 2006)

THE LOONIE

The Loonie appears to be running out of sellers. Today’s price action indicates that the commercials are stepping up to the plate, as their buying was what stopped the short selling. The Loonie has now become a low risk trade, as its speculative premium has been reduced by the recent reaction.

The Loonie’s near term outlook is a trading range, as the market digests the latest news.

 

THE $USD

The $USD exhibited its first real selling since this reaction began. The MOMO (momentum) traders were in rout by the close. The short sellers have been run out, and the tank is out of gas. Today’s price action showed that the commercials won’t play at this price level.

The short term outlook is a probable trading range until a tradable direction materializes.

 

SUMMARY

The financial markets are confused by today’s close price for gold. The ramifications are ominous for some sectors of the economy. The currency markets will have to put their thinking caps on to predict this event’s implications.

Yes, the SS Goldbrick was hit by torpedoes sometime today. Investigators are being rushed to the scene for a damage report. The SS Goldbrick has had to return to port for repairs. Should the Goldbrick need extensive repairs, her precious cargo of fuel for the precious metal’s moneymaking machine won’t de delivered. That would result in an engine shutdown due to the lack of fuel. The managers used to keep big inventories of fuel, but the price level of crude oil has forced them to cut back their inventory of BlackGold!

It’s too early to forecast the effect, but serious damage has been done to the Goldbrick, and smart money will watch this carefully prior to committing.

 

Wayne N. Krautkramer onlypill@cox.net

Http://onlypill.tripod.com/thelooniewatchercopyright2006bypitagorasinternacionalsa

 

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