Large Entities Creating Major Breakouts In Crucial Markets
KingWorldNews.com
August 22, 2012
Today acclaimed commodity trader, Dan Norcini, told KWN that well-financed, very large entities are creating major breakouts in various markets as they position themselves ahead of an important shift. Norcini also issued this warning, “… there is a great deal of money on the sidelines and this means we will see some violent action as these markets move to the upside.”
Here is what Norcini had to say: “Obviously, Eric, we would not see these chart patterns breaking out the way they are (see below), unless large, well-financed, and well-connected entities were positioning themselves ahead of what they see coming down the road. This is simply too large of a move for this to be some momentary blip on the radar.”
Dan Norcini continues:
“It took a lot of firepower to break these markets through these resistance levels. We have had two days of solid action, along with good volume, on this breakout and it signifies a change in direction. It also signifies that some very large players anticipate something very significant down the road.
What happened yesterday was word about the crop tour sent both corn and soybean prices strongly higher. This also dragged wheat along for the ride. The supply seems to keep shrinking as each successive yield estimate comes in with a lower number.
Once the market comes to grip with the actual supply number for this year, the focus will shift to the demand side of the equation and whether or not the market is doing its job of rationing supplies. One thing is certain – we, the consumer, are going to be reeling at the grocery store very soon.
Take a look at my Grain Composite Index – if you thought grain prices were high back at the peak of the commodity bubble in 2008, you haven’t seen anything yet! The Index is now firmly above 2008 high.
The Rest…HERE
