Optionsellers.com

Good afternoon, this is James Cordier of OptionSellers.com with a market update for August 29th. Well, in the last couple weeks we saw gold and silver finally knocked off its perch as the idea of no inflation, low commodity prices everywhere, and a very stable stock market have caused some people to cash in their chips on the two precious metals. The gold market was pushing up towards $1,400 and everyone was bullish. The silver market rallied up to $21 an ounce, and it appeared that both markets were going to continue rallying the rest of the year. We started to argue the fact that we expect energy prices at the end of the year to be low. Food prices are extremely low. One needs to simply look at the price of corn or protein markets, such as hogs or cattle, something we don’t trade but something we do follow. Also, the copper market is now pushing towards $2 a pound. That would be industrial inflation, or lack thereof. With prices of practically every commodity heading lower as we go into the 3rd and 4th