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During the day on Wednesday we only get a couple of minor announcements coming out of the United States, it’s quite frankly this should be a fairly quiet day. The one announcement worth paying attention to might be the Crude Oil Inventories number, as strengthening oil has given the stock market a little bit of a boost in the United States, not to mention the fact that the inventory situation can change the market around completely. So having said that, pay attention to that as oil prices have fallen a bit during the course of the session on Tuesday, and could continue to do so.

1 – Precious metals look like they are getting a bit of a bid again, and quite frankly we are bullish of both silver and gold longer term. We’ll have any interest in trying to buy puts, we believe that every time this market pulls back call buyers will return to send the market in one direction or another. Ultimately, this is a market that should continue to favor precious metals in general.

2 – European indices pullback a little bit during the day, but quite frankly we think there’s enough bullish pressure underneath to continue the move higher. Watch the DAX in particular, as it does tend to move the rest of the markets in tandem. With that, we believe that Europe is trying to pick up the pace, but it is going to be a bit of a grind forward at this point in time.