Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Thursday, December 27, 2007

Charts That Will Knock Your Socks Off!

The market chattering class keeps talking about Bhutto’s assassination as a market mover. Her death is a tragedy. However, her return to Pakistan already put a lot of tension and volatility into that country. It could get worse, but it could also not get worse.

I think we should instead focus on the bullish breakout
happening in gold right now, and should keep happening, no matter what happens in Pakistan. Check out this chart of the GLD …
And now let's look at silver ...Bottom line: The percentage move for silver could be much bigger than that for gold!

The latest on crude: Inventories fell by 3.3 million barrels to 293.6 million barrels in the most recent week, according to the U.S. Energy Information Administration. Analysts polled by Dow Jones Newswires were expecting a drawdown of 1.2 million barrels. OOPS!

Gasoline supplies rose by 700,000 barrels in the latest week, while distillate stocks fell by 2.8 million barrels, EIA reported.

The oil fund I added to Red Hot Resources last week already hit PT1. Gold and silver look ready to ramp up, and oil is coiling up for its next big move.

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