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During the session today, the only thing we have coming out as far as economic announcements are concerned is the NAHB housing numbers. Quite frankly, most of you probably haven’t heard of this announcement and that would be for good reason. It simply doesn’t move the market very often. The Americans are fully aware the fact that the housing market isn’t as strong as it was 10 years ago, so quite frankly it’s hard to imagine that this will move the markets in general.

1 – It looks as if Friday was a fairly quiet session in the currency markets, so having said that we believe that the overall theme continues as the Euro looks like it’s trying to find its footing after falling for 2 sessions. With this, we believe that the US dollar continues to soften, and that should lead to higher currency valuations for the Euro and the British pound.

2 – We also recognize that a softening US dollar will be good for stocks in America, especially in the S&P 500. Having said that though, keep in mind that there is a lot of noise in the stock markets right now, and quite frankly short-term trades will probably be the best way to go going forward.

3 – Ultimately, it looks as if precious metals will continue to go higher, as the US dollar softens. We particularly like gold but recognize silver offers its own value at the moment as well. Either way though, expect a lot of volatility so keep your trades based upon short-term options.