Analysis and Discussion with Frank McGhee of Integrated Brokerage Service

Transcript:
et s get more n the rally ommodities. lie was entioning oil and old, oth urging. et us ring rank mcgee from ntegrated program ervices joining us on he phone. hank you for joining s. f we ad an earlier guest who aying that the il rend firmly in place. e are only oing c -- be eeing higher il going forward. ree? ou have seen a ignificant disconnect over the ast 60 ays and 90 ays between old and oil market as the dollar firmed entral bank ntervention and liquidations through the etfs. he market bsorbed hat and with crude oing nto the llies, the oncept hat crude nly a spike is robably bout perating as we orward and i hink you are eeing the rket cross the oard ccept a higher evel onsistently higher price. had a ignificant short covering rally esterday and day ew buying coming ith potential the we are ctually urning rom he short-term owntrend to erhaps eg of mobile. hat bout hose ho said and this is the same old th a possible ecession in the .s. and lowing conomies in europe and sia, that emand is going to bring own the price those commodities. think the thing you ave to look orward specially ith events that ave ccurred western hina ith he arthquake and yanmar, hat ou re going to ave a enewed continued emand. ew housing starts being the united states. an come ack nto a speculation condition. he fed as ased and he affect hose pieces are ust ow coming nto the market. akes 10 - eight months 10 months o filter through. hink hese markets are forward- oking asically he break hat we had as hat component lready actoring into the market. sked ur revious uest this. goldman achs ees 141 at the end f the year for il. see ltimately no batement he demand for crude. hink there ill e a lot of sues to try top the rice and talk it down. aw $5 or $6 break on the threat of eleveraging he arket, making utures ontract ull margin instead of speculation. ltimately world emand will tstrip our bility o get soline and ars and trucks. hat bout the levels? ou seem to void orry to say whether you agree ith target. hink uite onestly of the end of the ay, we will go igher. y the end of the year? es. > what bout gold? think we have had a ealthy break. hink especially in the ast two or three essions patanjali turned the market technically. i could ee some of my back $960 and another potential est of 1000. orrection ossibly going forward? think ee it. hink that is hat the last 60 days as been. he first ound of redemption to the tfs and how he market absorbed. remendous emand reas such ilver, and i hink you will tart o see the etfs ebuild nvestment and go from million back up north to 21 to the 2 million ounces. 1 million up o 22 million ounces.