Screw Gold...Get me some Wheat......

For the fifth day in a row, the wheat future contract was lock limit up or .30 higher, that's $1.50 for the week or 12.50% higher. Platinum and palladium also had huge runs this week. See what can happen in an unfettered market?

Gold had a pretty good day yesterday up some $12 on the April contract. Plain and simple, the shorts and naysayers got it wrong. They both thought that when the dollar strengthened, gold would come cracking on down. They were obviously wrong and paid the price and were forced to cover higher. Not to say they didn't try after the CRIMEX opened, but all attempts downward were thwarted by the skyrocketing price in oil and falling dollar.

As for the gold stocks, they certainly did act a lot better. I thought on Thursday, they might be changing their course as they acted better, especially AEM. However, I came in relatively light on Friday, but bot some NEM in the premarket. Needless to say, you can imagine how thrilled I was when NEM tanked on the open as all the other gold stocks went much higher. However, the stocks did "feel" higher, so I acutally doubled down and the ensuing action put a smile on my face.

The shorts have been having a field day with the gold stocks, and like their fellow breathen in the gold shorts, they got shellacked yesterday. Now, the entire non participation in the gold stocks is prolly for two reasons, the first being the short selling and th second is prolly the non believing of the general public that gold is going to stay this high. The gold/XAU ratio is at .20, and that usually indicates a huger rally should start in the stocks. If gold, which, in spite of all my bithing, really has done a wonderful job of not giving back its gains, can stay at this level and move higher, than the gold stocks will follow in suit.

Oh yeah, silver made another new contract high. Silver has been acting quietly great and has really not been noticed by the media.

As usual, all roads still point to gold.