Thursday, December 30, 2010

Blythe Hits The Sauce

Somewhere, on the upper East Side, Blythe is drowning her sorrows...but her sorrows have learned to swim. After desperately trying to suppress and raid the precious metals today, Blythe must be almost disconsolate watching tonight's action. Take a look at a 3-minute gold chart. Note the steady rise from the 6:00 EST open until this moment:
Not to be outdone, our friend silver is currently trading at a level last seen at 10:00 am, about 30.65.
Of greater significance, check out this 4-hour March11 silver chart. It sure looks like we are ready to blast higher. Blythe had better not have given the monkeys an early weekend because without their interference tomorrow, silver is poised to spring past $31.
Finally, one last chart update of our March USDX. It looks like one last leg down tonight, toward 79.20 before consolidation, a bounce and then a new move lower.
That's it for now. Let's hope the BoS continue to bury Blythe overnight. A close above 30 tomorrow would be huge. Above $31...well, let's not get carried away...yet. Turd out.
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18 comments:

  1. BDecember 30, 2010 at 9:12 PM

    This sucks man. I've got physical but I've had bids under the market all throughout Monday that were never hit. It seems like there is no chance in hell its going to come down another $1 on silver.

    I really wanted to buy the dang dip!

    ReplyDelete
  2. kliguy38December 30, 2010 at 9:18 PM

    They gave you your buy 2 weeks ago........have ta pull the trigger when they give you the target

    ReplyDelete
  3. CO_DanDecember 30, 2010 at 9:33 PM

    Does Blythe really have an option OTHER than to go all-in tomorrow?

    A close above, say, $1420/$31 on December 31 and it's pretty much Game/Set/Match, no?

    ReplyDelete
  4. Turd FergusonDecember 30, 2010 at 9:38 PM

    It would sure seem so, Dan.
    Money managers worldwide would have to sit up and take notice next week. They'd re-program some 0s and 1s and money would come pouring into the sector. It could get away from her real fast.

    ReplyDelete
  5. flauntDecember 30, 2010 at 9:43 PM

    lol the hand-written comments on your chart crack me up. Here's to hoping Blythe drinks herself into a stupor and has a massive hangover tomorrow!

    ReplyDelete
  6. AnonymousDecember 30, 2010 at 9:46 PM

    Good to see another fan of Until the End of the World, Turd... The movie (in case you haven't seen it) is an interesting one as well -- Indian "communications satellite" blows up in near-Earth orbit, causing global EMP effect.

    ReplyDelete
  7. Mr Lennon HendrixDecember 30, 2010 at 10:19 PM

    Asia loves gold and Blythe will try to bring gold back to $1400. Will it happen? I don't know. I am waiting on a $29 rise coming soon...could be tommorrow.

    ReplyDelete
  8. JackDecember 30, 2010 at 10:44 PM

    Next week could really get interesting.

    ReplyDelete
  9. JackDecember 30, 2010 at 11:46 PM

    Dammit, no Harvey tonight. I need him just like a cup of Java in the am.

    ReplyDelete
  10. HeronDecember 31, 2010 at 12:06 AM

    CO_Dan, Turd... I have a feeling y'all are right and that Blythe has yet to take her best shot this week. I would think that New Year's Eve trading would involve substantially less volume than any day next week. That being the case could she not get better mileage down the chart with less paper?

    There might be a rich bounty of stops to be harvested down there, too, for short covering which is what we hear she is trying to do.

    ReplyDelete
  11. Turd FergusonDecember 31, 2010 at 12:16 AM

    $30.70 at 12:15 EST looks mighty nice

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  12. Qussl3December 31, 2010 at 12:19 AM

    Relentless.

    Wonder how the PMs will fare when the scheduled Irish dog and pony show runs mid Jan.

    ReplyDelete
  13. ChrisDecember 31, 2010 at 3:00 AM

    Pretty cool video made by future money trends. If you are a silver bug (which I believe most of us here are) then you will find great pleasure in watching this :)

    http://www.youtube.com/watch?v=-IiarVvZguY&feature=player_embedded

    ReplyDelete
  14. AnonymousDecember 31, 2010 at 3:41 AM

    This may be redundant/common knowledge to many here, but this was very sobering for me -- despite knowing most of its contents. The method of delivery, the richness of examples and the idiocy of policymakers comes alive in Prof. Albert Bartlett's lecture on the unsustainability of expansionary growth:
    http://www.youtube.com/view_play_list?p=6A1FD147A45EF50D

    ReplyDelete
  15. sumoDecember 31, 2010 at 6:30 AM

    In a video at http://www.globalperspectives.info/, Steve Meyers thinks we will see the following within the next two years:

    * a collapse in the EUR, following by:
    * a flight to "safety" in the USD, followed by:
    * a collapse in the USD, which then causes:
    * an explosion in PM prices, followed by:
    * an attempt to shift to some new global reserve currency

    Meyers thinks the bond market has spoken, and QE3,4,5 won't happen.

    There is a train wreck coming in CRE:

    http://www.zerohedge.com/article/must-see-howard-davidowitz-destroys-recovery-illusion-debunks-consumer-renaissance

    Add that to the train wreck coming in State and local govt finances ... wow, talk about living in interesting times.

    ReplyDelete
  16. A Dominion FamilyDecember 31, 2010 at 6:44 AM

    "Blythe is drowning her sorrows...but her sorrows have learned to swim"

    Awesome U2 reference, Turd

    ReplyDelete
  17. urexsiDecember 31, 2010 at 7:11 AM

    I think many here will find this worthwhile: http://www.gold-eagle.com/editorials_08/lundeen121910.html

    ReplyDelete
  18. amorDecember 31, 2010 at 5:24 PM

    Nice springboard forming long term. Looks like a breakout in after hours close 30.93

    ReplyDelete

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