The old adage is: Anything given away for free is of little value. Here in Turd's World, I hope we've proven that every rule has an exception.
Well, what a day this was. What a week. What a great couple of months.
In the last two weeks alone, yours truly has given you a certain bottom in the PMs:
And a personally guaranteed price target:
I've warned you to expect great volatility:
I even ran the fool's errand today of calling a breakout rally:
But its not complicated. I explained how to do this yourself some time ago. So easy, a Turd can do it:
Now, you can say that I'm patting myself on the back and I suppose that, in a sense, I am. Show me anyone...any of these TA expert douchebags...that consistently gives people this kind of accurate info. For free, too! You and I both know that no one is ever 100% correct or even 80%. Blythe is still "in charge" to a great extent and she'll always reach up and bite me in the rear. But, for now, all I ask is that you tell everyone who know about the great seer, Turd Ferguson. The larger we can make this site, the more folks we can alert to the coming plague. So, please, spread the word. (and visit our sponsors) (and, if so moved, ponder the "donate" button, too)
Again, what a great, flippin day.
Check out this 5-minute silver chart. It shows what is perhaps the greatest, most wonderful FUBM of all time. What makes it so great is that it clearly shows both an FUBM and an FUTF...and the FUBM is twice the magnitude of the FUTF!!!
Gold looks great, too. Again, "support becomes resistance and vice versa". Look at how 1350 is already providing support in that gold twice touched that level post blastoff and bounced both times. As mentioned this morning, things will get sticky around 1360 and even stickier around 1370. That, however, will only be temporary and the ride back to 1400 will continue.
11:30 pm EST UPDATE:
A pretty quiet, consolidation trade this evening in the metals. They've both given back a little but after such a big day, that's to be expected.
Expect some more slight weakness into the 8:30 EST BLS BS report in the morning. Also, don't be surprised if the "headline" number surprises some. The reason I call it the BLS BS report in the first place is because the BLS so manipulates the number that its almost useless. Perhaps we'll get some nonsense "birth/death model" adjustments that, at first make the number look good. If so, we may see a quick drop in the PMs. The "market" is beginning to see right through this baloney, however, so if they try it, we'll probably snap right back higher. Either way...the U.S. economy stinks and it is simply bouncing along the bottom of our now 2.5 year contraction. All the QE in the world can't change that.
For a fun review of the past two BLS BS reports you can click these links. They'll probably serve as a good preview for tomorrow and maybe even provide you with a couple of laughs.
Thanks again for another great day. We just missed setting a new record for pageviews, coming in at 27,400. Coming up this weekend or perhaps on Monday, we're going to reach a rather significant milestone. Anyone want to harbor a guess?