Several people have emailed me, wanting to know why The Wicked Witch doesn't make videos more regularly. Mainly its because I only put them out when I feel that she has something particularly interesting and timely to say. If you go back and re-watch some of her appearances, you'll find that she's extraordinarily accurate and prescient. That said, if you haven't watched her latest or if you only watched it once for laughs, I highly encourage you to watch it again now for trading purposes.
We're off to a great start this week. How many of you, back on Friday at this time, would have thought that this morning we would be trading near 1440 in gold and 38.50 in silver? I wasn't quite so sure myself. Again, that the margin hikes and Fed hacks have done little to slow the advance of the PMs is telling. Talk, talk, talk, talk is all they can do. http://www.youtube.com/watch?v=Eqjttpl3peI&feature=related
As Trader Dan astutely points out, The Fed has painted themselves into a corner. Too hawkish, down goes the long bond. Too dovish, down goes the dollar.
Santa likes to maintain that there are no "triple tops". He calls is "3 taps are you're out". With regard to the current, rangebound gold trade, he has maintained for a few weeks that it would take gold 3 stabs at 1444 before it would finally break free. Could this be stab #3?
p.s. I know many question the validity of Debka as a source. However, this analysis should be read because of the implications for crude and PM prices.
Also, I just re-watched this one. It's pretty good, too:
12:10 EDT UPDATE: