A couple of items for your consideration. But first, look right for a lovely FUBM formation on the gold chart. Not a true FUBM as the drop in gold this morning was mainly dollar-related but its pretty nonetheless.
Silver is up tonight as the dollar is trying to roll over and break support at 81 on the March USDX. The scenario I painted in my earlier post this afternoon is trying to play out. Last week, we discussed how copper was kind of leading the PMs so I felt I should give you a 2-hour copper chart to go with the 2-hour charts I posted earlier. Here it is:
OK, on to some news you could use. First and foremost, an update via seekingalpha, from the dude who purports to have started the whole "massive Chicom silver long/short position" story. The latest video from Silvergoldsilver, based upon this issue, seemed to raise a lot of questions about how and why the Chicoms would be doing this. If this theory interests you, I highly recommend you spend a few minutes reviewing this piece.
From a practical standpoint, this story is logically next:
This is kind of fun:
And, finally, from the mainstream media there is this:
As I check out for tonight, so far, so good. Cash USDX is breaking through support and stands at 80.69.
March copper is kickin ass at 437.55. Gold is 1384 and silver is 29.70. Lets keep that cash $ moving down toward 80.30 overnight and we'll have some nice high PM prices before Blythe can attack tomorrow morning. Turd out.