Wednesday, 5 November 2014

Pre-Market Brief

Good morning. Futures have swung to the upside on election 'good news', sp +12pts, we're set to open at the recent high of 2024. Metals are sharply lower, Gold -$25, with Silver -4.2%.. this is naturally pressuring the miners, GDX -3.0%


sp'daily5


Summary

*awaiting ADP jobs data
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So.. the Republicans do better than even they could have hoped, taking control of the Senate and the House of Rep'.

A fair few lately have been touting the 2040/50s.. and if we see 2025 this morning (seemingly likely)... then another 1% higher is very viable.
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re: metals... not surprisingly, metals are on the slide... Gold is headed for the giant $1000 threshold... and that is going to knock off another 25/35% off most mining stocks.

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Doom chatter, Hunter with Fabian-Calvo



As ever.. make of that.. what you will.
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Have a good Wednesday
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8.17am.. ADP jobs.. 230k... broadly inline .... indexes u/c on the news.. .sp +12pts @ 2024.