Daily Precious Metals Review for 12-Sep-03

Fundamental Silver Commentary from Erik Gebhard at ALTAVEST:

December Silver : Close = 534.5, +8.0

Prices rocketed to fresh highs, blowing past prior resistance near 530. As with gold, the path of least resistance is up. Uptrend support near 500 is solidly in place, but like gold, stochastics indicators are divergent and approaching overbought levels. The trend is assuredly higher, but buying here runs quite a high risk of buying the top. As you may have noticed, we aren’t big fans of chasing after markets, as odds suggest pullbacks almost always occur. One might consider options too, with each contract/option = 5,000 ounces, a 1-cent move in a futures contract = $50. Contact me anytime to discuss strategies to fit your needs.

To open an account and receive trading recommendations on silver futures or options contracts (also stock indices, energies, currencies, etc.), or to use PaperTrader Online contact me at erik@altavest.com. Visit www.altavest.com to request a Free Starter Kit. Keep in mind that there is risk of loss in all trading.

For more information visit ALTAVEST or call 800-994-9566.

Silver Focus

Click Charts to Enlarge

		Day's Change		52-Week High		52-Week Low
Instrument	Current	Points	%	Date	Value	Date	Value
Precious Metals						12-Sep-03
Gold $/oz-Zurich	380.00	0.00	0.00%	-	-	-	-
Gold Euro/Kg-LUX	10,895.00	30.00	0.28%	-	-	-	-
Gold Euro/Kg-Paris	10,810.00	0.00	0.00%	-	-	-	-
Palladium $/oz-Zurich	212.50	0.00	0.00%	-	-	-	-
Palladium Euro/kg-Zurich	5,771.00	-36.00	-0.62%	-	-	-	-
Platinum 1oz-Frankfurt	619.80	-1.62	-0.26%	-	-	-	-
Platinum AM $/oz-Frankfurt	701.00	3.50	0.50%	-	-	-	-
Platinum-Zurich	19,714.00	-19.00	-0.10%	-	-	-	-

Source: Telekurs

Erik is the President of ALTAVEST Worldwide Trading, Inc., a futures and options brokerage firm, where he is a broker and author of TradeScope, a daily advisory for ALTAVEST clients. Prior to ALTAVEST, he was a broker for a start-up brokerage firm where he also helped develop and test charting software. His first position as a broker also found him with the responsibility of establishing a paper trading program for Ken Roberts students. He then became a founding broker at another firm where he was Associate Editor of their newsletter, writer of the daily trading hotline, and a broker-representative at Ken Roberts seminars throughout the country. Before trading commodities, Erik was a registered representative with FORTIS Financial Group, an Insurance and Investment Corporation, where he acquired his Series 6 and 63 securities and CA insurance licenses. Erik holds a BS in Business Administration from the University of Southern California.

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