First of all, we should all be very pleased by the action overnight. All who BTFD late yesterday are lready about a dollar to the good on silver and $10+ on gold. For all the angst, wailing and grinding of teeth, gold currently stands off just $10 from its Comex close and silver is down a measly $0.39. I've seen woiss.
Rather than bore you with two more PM charts, here are two other key commodities to review this morning. First, here's crude. Crazy volatile this week but it ain't over yet. Only a move down through 94 would be a sign that things are calming down.
Lastly, a lot of chatter lately about how this "board is too bullish" and that "Turd is always long". Everyone needs to understand something: If you're looking for trading advice like when to sell and when to buy, you need to look elsewhere. There are lots of shills and con artists out there who are willing to provide you with this "information" for a fee. They'll gladly take your business. Let me remind you that this site and all the wisdom contained here is provided free of charge. All that is asked of you is that you occasionally visit our sponsors and consider "feeding the turd". I have developed a bit of a reputation for accurately predicting moves in the PM markets. That's all well and good and I've never tried to hide my methodology from anyone. However, if I were to pretend that I could, with consistent accuracy, call every single short-term top and bottom, I would quickly be shown to be just as useless as Prechter et al and my long-term message would end up being ignored.
I am not long just for the short term. I am long intermediate. I am long long. I am currently in April and June gold and May silver. Dips like yesterday don't bother me because I am extremely confident that my May $35 silver calls will, eventually, make me money. Whether or not EXK traded off $0.20 makes no difference to me, either. The trend for everything PM-related is UP until and unless the fundos change. Needless to say, I'm not expecting that to happen anytime soon.
The end of The Great Keynesian Experiment is upon us. I am attempting to prepare accordingly. You should, too.