So, are you glad that you found this site? Have you told all your friends to bookmark it? Did you let Tungstenman scare you out of your positions? Did all the top-callers and trolls on ZH frighten you? I hope not. I sincerely hope not.
Trader Dan wrote a great piece the other day about Tungstenman carrying the water for the Fed. He's probably right. However, only The Turd posited that Tungstenman downgraded crude for their own benefit. They were likely short a boatload of 110+ calls and needed to get crude lower...fast. If not that, they know that crude is headed much higher and they wanted to buy lower. Who do you think was on the other side of all those sell orders Monday and Tuesday? EF Hutton?
At any rate, the storm seems to have passed. The metals, led by silver, did not suffer any permanent damage. The only question now is: Will The Cartel once again waste taxpayer money by attempting to paint a temporary doubletop of charts? They might, though they didn't at $38.20 so who can say for sure. All I know is that silver is chugging ahead like an tremendous machine. Or in the words of Mickey Goldmill, a greezy, Italian tank. It eats lightning and craps thunder!
(Damn. Here I am, a grown man. And this makes me cry every time.)
Anyway, we're kickin ass and at the highs of the day with about a half hour to go. Watch the Globex this afternoon for continued fireworks. More as needed. TF