It seems that what we have been witnessing is akin to packs of wolves attacking the weak of a herd of Buffalo.

It seems that what we have been witnessing is akin to packs of wolves attacking the weak of a herd of Buffalo. As time passed and the moves to the downside have cleared the way for the strong. Now with a new day dawning, with what is expected this day to be the first Federal Reserve rate hike, the wolves have backed off and the herd is getting stronger. In the pack palladium led the way yesterday on the news of strong European auto sales and platinum today is playing catch up as the market is beginning to realize that the Volkswagen fiasco is more brand focused and not industry wide. Today’s Housing Starts were strong though Capacity Utilization was weak. Mixed numbers that more than likely will not dissuade the Fed from today’s expected action. The herd we call the precious metals group seems to be getting ready to stampede as the wolves/shorts are getting out of the way. After today’s news if it is as expected, it would not surprise me if the herd finds greener pastures ahead.