First, a little back-patting.
I wrote this at 9:20 EST while fighting a pounding, red-wine induced headache.
"All I can say is "whatever". There's almost a kind of arbitrage that will now take place as we go through the morning. Since the EE has artificially depressed price, you'll most likely see prices drift higher going forward. If I had to guess, we'll probably finish at about $1380 and $29.25." -- actual closes of 1380.30 & 29.34
Again, The Turd is not some sort of soothsayer or witch. The Turd simply recognizes that the PM "markets" are not really markets at all. They are the dominion of The Evil Empire. Lately, the EE has been countered by an equally powerful Buyer(s) of Size. Once you accept that these two forces are the primary drivers of price, predicting the future becomes quite simple. For a refresher, review this:
OK, now take a look at these three, very interesting charts. First up, gold:
Next up, take a look at the weekly silver chart:
Now, here's the really interesting chart, Feb11 crude oil.
I leave you tonight with another selection from the Grooveyard of Forgotten Favorites. This may be of particular interest to our Canadian readers but all should enjoy it. Have a great evening! Turd out.