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.

18 comments:

  1. 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!

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

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  3. 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?

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  4. 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.

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  5. 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!

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  6. 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.

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  7. 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.

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  8. Next week could really get interesting.

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

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  10. 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.

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  11. $30.70 at 12:15 EST looks mighty nice

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  12. Relentless.

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

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  13. 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

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  14. 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

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  15. 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.

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

    Awesome U2 reference, Turd

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

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

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