Happy Saturday, everyone! This post will be brief as I have a tee time in 42 minutes.
First, I must say that I couldn't be more excited about the action yesterday, particularly silver. Just absolutely beautiful. And did you see crude? Holy cow! We should all be excited for Monday, that's for sure.
OK, here are two charts for you to peruse. First, the CRB eeked out a positive close on the back of strong grains and crude. Again, this was the second highest weekly close ever.
Now look at the weekly POSX. Still below all of its moving averages and looks terrible, in spite of all the posing and posturing by the various Fed hacks/weasels/thugs/goons. They'll certainly try to double-bottom it at 75.25 if they get the chance. Will it work? Who know? Who cares? The long-term trend is DOWN, as we discussed yesterday: http://tfmetalsreport.blogspot.com/2011/04/big-picture-whats-really-going-on.html
More later this evening or tomorrow. Thanks! TF