Last week: Silver is showing very similar risk weight patterns as Gold and waiting to show more medium strength. No change in full investment allocation.

Last week: Silver versus Euro similarly has every potential to reach the 2016 high within the next 3-6 months. Price to risk weight is in favour of price turning up before year end. No change to full investment allocation

Last week: As GBP is likely to enter a period of more volatility coming into the Dec general elections. 2 months ago Silver was stronger against GBP than against any of the other major currencies and appears to be building a strong technical base for a similar move and taking out the Sept 4 high at 16.20. This does require some patience and No Change to full allocation in a GBP denominated investment portfolio

Last week: Even though Silver always appears to have more manipulative properties than Gold meaning another correction in the direction of 90 cannot be excluded, the current risk weight scenario across time frames favours further weakness of the ratio. The technical space looks like the 75 ratio level is on the cards before we reach 90. And ot is way to long term equilibrium which could take a few years. No Change

Last week: All time frames still show bearishness with the LT looking very bearish indeed. ST looks a little stretched and may pause within the next few weeks before resuming the down trend and falling in line with the LT risk weight trend direction. NO change keeping long dollar exposures covered.

Last week: We reduce our Short Sterling cover from 80% to 60%. Reason is that ST has turned down and Weekly MT is in overbought territory. The type of pause or correction that may develop much reduces the risk of a lighter GBP position

Last week: BTC actually looks a little bullish again with resistance at the connecting downtrend line since the Dec 2017n high. That resistance comes in at 12640. We do not participate in Bitcoin due to this market not offering the trust that investors require in the way market liquidity transpires. So, No change due to high risk at any level. For speculators this is the perfect market to learn the ropes, but stay small and do NOT ever leverage

Remaining 'opening up' gap still to fill at 2828. We exclude weekend action to determine opening gaps as major players are not participating in size.
If this market is poised to turn from extremely overbought (Dec 2017) to completely oversold, it doesn't appear to be finished.

Last week: The Dow is showing a Deja Vue scenarioand it is not possible to predict any final top as a result of massive QE and further lowering of short term interest rates in the USA and Europe, whilst the latter also increases its bond purchases with MT tenor. All risk weight time frames remain in either Overbought or Bearish divergence position which makes the risk of mholding these assets too high. No change

Last week: Another All time high close at 3064 and at month end October. Short Term Daily Risk weight is at 92%. We call this overbought territory. The MT Weekly time frame is in an uptrend at 90% and looking to rol over to bearish diverge relative to price and Risk weight in May and June of 2019. The Long Term Monthly risk weight also looks to want to roll over into bearish divergence in relation to the Jan 2018 high at 2877 with risk weight at 95% and the September 2018 High at 2942 with risk weight at 92%. This is an unprecedented bubble of a proportion that could shake investment markets without warning. Our technical risk approach to the Standard and Poors index does not permit any allocation under these extreme conditions. No Change

Last week: Brent could again turn up but our risk weight indicators taken from Stochastic, RSI and MACD do not offer a consistent enough picture to enter this market with low risk. The LT Monthly time frame looks potentially bullish but it has not been confirmed yet. The massive Aramco IPO may also influence short term activity as it is likely to issue a total of 5% of the stock in the near future which would be about a $100 Billion cash value.
Timing of the tranches for IPO is very critical in order to make this an orderly series of transactions.
Bottom line is that we do not yet see a new low risk entry point for Brent, hence No Change.

Last week: Brent rallied nicely after we removed our allocation. With ST risk weight at 92% and diverging vis a vis MT and LT, we feel more comfortable not having a position until this market shows its hand which will likely be driven by geo-political events. No Change for now