As you've noticed by now, The Turd has a few of his own technical patterns and formations. "Poseidon's Anchor" is a favorite which worked pretty well again last week in the bond market. This new one, however, might be my personal favorite.
We call this the "FUBM" formation. Since Blythe has decided that her modus operandi each day is to raid gold and silver at 9:00 am EST, the subsequent reversals and rebounds courtesy of the BoS stick out like a big, middle finger. My mental picture is that of a Saudi prince, in full headgear and robe regalia, with one arm extended, giving Blythe the finger. Here's what it looks like from a traditional, technical perspective:
OK, this last hour looks to be very interesting. Blythe has raided on six, consecutive sessions but the lows she makes keep getting higher and higher.
If we can eek out a positive close today at $29.36 or higher on the March11, I believe we are set up for a short-term pop up over $30. Maybe another one of those $1+, short-covering surges. Keep your fingers crossed. Lets see what the BoS has in store for us over the next 60 minutes.
Watch this, too. Potentially very important:
Yep, those higher lows is what convinced me to add physical last Friday. I may be wrong, but I don't think the uptrend will be broken until we have massive debt contraction, which is unlikely anytime soon.
ReplyDeleteJD
Hey, Turd, if we post a $1 pop tomorrow, it still won't be as big as the day NFLX is having today: Up 4.5%.
ReplyDeleteWhat a friggin' joke!
Ahhh, the perpetually levitating NFLX, the day of reckoning for this one will be quite a show.
ReplyDeleteHey Turd, do you make any money when folks click on those ads on your site? I have clicked a few of them just in case, but thought I would ask.
ReplyDeleteI think it would be freaking awesome if the BoS piled on during the last 20 minutes and ran that motha' up.
Nathan: Yes I do! Please keep it up.
ReplyDeleteRe NFLX, I thought CNBS said gold was the bubble. Hmmm...
Nathan: They look like they're piling on as I type. 25 minutes to go.
ReplyDeleteGood call Turd. Looks like a great close coming up!
ReplyDeleteWell, you see with NFLX et. al. it is the Momo Monkey Brigade, a completely different species than the Agau Monkey Brigade. Got to get your simians correct, that's all.
ReplyDeleteGood point, rich. Related species, for sure, but different.
ReplyDeleteAwesome, hope that pull it off just right. Those flying monkeys are flapping their wings as hard as they can right now I bet. You know they are going to do everything they can to take it to 29.30 in the last few minutes.
ReplyDeleteMaybe the BoS will issue a press statement later today stating: "Cram it in your cram hole Blythe."
A close around 29.50 would sure look nice.
ReplyDeleteAnd the Great Python SQUEEEEEEEZES!
ReplyDeleteBlythe loading up the cannons with red paint...
ReplyDeleteExcuse my ignorance, but wasn't today some super special opex for PMs that was supposed to bring out the absolute very best weapons at BM's disposal?
ReplyDeleteJD
We might have a double FUBM today the way the BoS are buying again.
ReplyDeleteOK...it closed at .35...not .36 what now?
ReplyDeleteHi guys. A pretty unrelated point. After dwelling on the possibility of getting a piece of these ever more consistent raids, I've made a spreadsheet of December's Comex opening prices, and prices 1hr and 1hr.30 minutes later. If I had access to charts going back the last couple of months I'd do those too. Anyone point me towards decent ten minute charts for oct/nov so I can compile them? For reference, the drops after 9am are in green and positive (for good shorting potential) and in red and negative when the price went up.
ReplyDeleteHere's the spreadsheet link:
https://spreadsheets.google.com/ccc?key=0AisZUjeZAlDgdFNGbW1Vb3hfUVRnTDM4ZVJTTUVKd2c&hl=en&authkey=CICKk74M
I swear, at this point it makes sense to roll out a 2X Inverse NFLX ETF. lol
ReplyDeleteTurd, how do you explain the early morning spike up in price in silver today? BoS ?
Self: The pop coincided with a 0.20 down move in the USDX.
ReplyDeleteI really think Kitco needs to have a 10, 30 or 60 day chart overlapping the daily action like they do for the current 3-day. Fiend...if you are compiling a figure like this, it would be awesome.
ReplyDeleteDoes the spike just after 8 am look like an upright middle finger to anyone else?
ReplyDeleteA message for the witch?
New users of Weibo - China's equivalent of Twitter - will now have to submit their real names. Existing users will have to register within three months.
ReplyDeleteThose who refuse to do so will lose the ability to publish microblog entries.
The move comes with Chinese people increasingly using Weibo platforms to criticise government policies or vent anger over particular incidents.
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