It appears to be a “Risk-Off,” Monday, as Silver is selling off more than 2%. Gold is trading under the all important, psychological, $1700 level. Finally, Crude Oil is lower by 1.5% at the $106 level. In my opinion, Crude Oil Shorts need to play Crude with extremely tight stops. Tension in Syria, Iran, or Korea can escalate at given moment and send Crude LOCK LIMIT UP.
Monday Economic Events:
India IP (January)- Consensus estimates a rise to 2.1%.
Japan Machinery Orders (January)- Analysts expect a much better -7% December number.
Japan January New Orders.