Gold hasn't collapsed anymore. It's found its legs. Silver seems to have found its leg against the $23 level for the moment. Interest rates keep doing one thing: adding yield.
On Friday Fed Chair Powell will speak and no, I don't expect him to change his tune on anything. I expect him to do exactly what he has said. The labor market surprised him. The economy is still resilient. Inflation is still running high and core numbers are too high.
I'm not in agreement with him that shelter costs are going to fall. We have a shortage. I'm not just talking new homes. Used homes, people don't put them on the market. Even rentals are not falling in price very much.
About the author
LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
Be it education, market information or trading platforms, we provide solutions.
Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.