Metals' Trifecta Play

Gold & silver powered up by a trifecta of factors; i) Uncertainty ahead of latest EU Summit & lack of clear progress in Greek debt talks; ii) US debt ceiling impasse leading credit agencies to not only warn about the credit outlook but also to raise probabilities as high as 50/50 of a downgrading in the actual debt rating before year-end; iii) References to possible further monetary stimulus (QE3) by Bernanke. The shorts in our SP500 Premium trades have hit all limits, while shorts in US crude, EURJPY & EURUSD have been executed. Find out where are the limits/stops as well as the rest of the trades on gold and silver in this direct link for our Premium subscribers http://tinyurl.com/3tk7wjr To become a subscriber to our Intermarket Insights, please click here: http://ashraflaidi.com/products/sub01/According to Market News International, Fitch Ratings says they've been asked by clients to study potential repercussions of a US default. Fitch estimates "that USD-denominated MMFs have approximately $1.3 trillion in exposure to U.S. Treasury/Agency securities and short-term repurchase agreements (repos) collateralized by U.S. Treasury/Agency securities. MMFs are not forced to sell defaulted securities, absent large redemptions. Liquidity pressures, therefore, should only arise from heightened redemption activity." More market information/analysis from MNI FX Bullets available as part of our Premium offering.

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