Its been a long, three-day weekend. If you haven't yet, I strongly suggest you re-read this from last night:
"An absolute classic EE beatdown tonight as Blythe tries to claw back all the gains that were made on the Globex earlier today. Take a look at this 2-minute chart for tonight's action:
This is 100%, no-doubt EE manipulation. Some may claim algo, $-related selling. Nonsense. This is exactly what I was looking for when I made that "movie" last night. Blythe likely stored up some fresh ammo by covering some shorts back on Friday. She then unleashed some new shorts on us tonight in a blatant attempt to scare some March longs into selling. So the question is...what happens next?
I doubt she's done. I would initially look for support around the 33.25 level. We struggled with that area a little this morning (remember...broken resistance becomes support and vice versa) and it served to contain last hour's attack. It may hold again but don't be surprised if, at some point overnight, silver trades all the way back down to the highs of Friday, somewhere just below $33. If I were a BoS, intent upon taking delivery and shoving my silver auger right up Blythe's patooty, I'd be waiting right there for her with giant bids. Let's hope we see one, final, massive FUBM begin there and rally us into the morning. If I were trading tonight, I'd sit, cool as a cucumber and let Blythe come to me."
And you must also watch this, from Sunday night:
OK, now you are prepared for this day. Silver is already about 70 cents off its lows so we may be in the process of building the biggest and most important FUBM of all time. Watch out, though. Blythe is still lurking.
I'll have more in about an hour on this very important day. TF