The markets in general during the session on Thursday will probably be somewhat volatile, mainly because the biggest mover of markets will be the Congressional testimony of the federal reserve chairwoman. In other words, it can't really be quantified in an easy manner.

1 – At this point in time, it seems apparent that the precious metals markets will continue to strengthen and perhaps go higher over the longer term. Ultimately, pullbacks will continue to be thought of as value, and you have to look at them as such. We have no interest in buying puts, and believe that eventually precious metals will explode to the upside and we have seen the beginning of a long-term trend change.

2 – The US dollar of course will be the center of the Forex world, but at the end of the day it looks as if the US dollar is getting a little bit softer in general. This is especially true against European currencies, but at the end of the day the one thing you can count on is quite a bit of volatility especially considering that Janet Yellen is speaking today.

3 – Energy is all but a dead market at this point in time, as the demand for oil is going to be very soft, and most certainly the demand for natural gas will be. With that being the case, we believe that the put buyers will continue to run this market more than anything else, and given enough time we should see bearish pressure again and again.