No pun intended...
First of all, we should all pray for the victims of the earthquake in Japan. Like 2004, I'm sure the death toll will continue to rise over the coming days and weeks. Its rather callous, at this point, to discuss financial implications so I'll refrain from doing so for now. Anyone that does discuss "the financial impact" is just guessing, anyway. How can anyone know this soon after the event?
All of the commodity complex sold off in reaction to the news. Significantly, gold and silver both stopped right where they should have...around 34 and 1400. Where we go from here is critical. Further weakness and we can call it another "correction". Silver could dip toward 32 and gold toward 1380.
Don't forget that "Cartoon Blythe" told you to expect this back on Saturday night. If you need to review, skip to the 4:20 mark to hear her prediction.
Look, I don't make the "videos" just for laughs. If you've seen them all, you should have noticed by now that "Cartoon Blythe" is usually pretty accurate. She even looks and swears just like the real Blythe. I only make new videos when I feel that Blythe has something important to say. Last Saturday was another such time.
Here are your gold and silver charts. Note how similar they look.
Crude is disappointing. The only "Day of Rage" so far came from yours truly when I saw how much my calls have gone down in price. Ouch! Oh well, my main position is in May crude which means they don't expire for another month. With things as crazy as they are in the ME, another month is an eternity.
OK, that's it. Let's see where we go from here. We're likely going to have our first "down" week in the PMs since Turd's Bottom. That's OK, too. I mean, shit doesn't just go straight up, you know?
Hang in there. TF