And the winner of today's contest is....
Well, its a tie. Two entries were for exactly $1575. The actual final number was 1575.07. Looks like I'm sending out two hats this time! One goes to "Doug" and the other goes to "kiwiquest". I'm also going to send one to "H" who selflessly took the time to create the spreadsheet of all the guesses.
Would all three of you please email me at email@example.com with your mailing address? Thanks!
Just a quick followup to today's action. First of all some clarification...
The "self-glorification" some saw in the last post was not intentional and I hope you didn't take it that way. Managing and growing this blog is interesting and quite challenging. When I make posts like the last one, they are simply a reminder to all readers that this blog has been extraordinarily accurate in predicting price action in the PMs. And it's FREE! It's free and it will remain free because I feel it is our duty to help as many as possible prepare for what is, most assuredly, coming. Your duty is to spread the word. Things go viral because of the exponential effect of the internet. I remind you of the accuracy here not to give myself "atta-boys", I do it to prompt you to tell others to visit here.
Now, look at these two great charts. First, silver. The action on Monday was real so I can't take the whiteout to it. However, if you ignore it, the chart looks pretty impressive. Given today's events, I can't imagine that silver won't head UP from here and test the highs of Sunday night near $50. After a pause there, I would still expect a move through $50, perhaps as high as $52 next week before the next pullback.
The gold chart is particularly fun. You know how I like patterns. Take a look at the one I found on the four-hour chart!
Gold moves UP $75 and finally takes out resistance around 1440.
Gold then retreats $25.
Gold moves UP $75 and takes out resistance at $1500.
Gold then retreats $25.
No reason not to think that gold isn't currently in the middle of the next $75 UP move which would take it to about $1560. From there, a pullback in the May 12-20 timeframe I keep mentioning and then a blastoff to my predicted high of $1600 before 6/10/11.
Works for me!!
OK, that's it for now. Again, congratulations to our winners and thanks to all who played. Rest well. Be happy. Smile often. Get ready for tomorrow. TF out.
8:10 pm EDT UPDATE:
Lots of great stuff on ZH tonight but you absolutely, positively must read this:
I was interviewed last Friday evening by the WebBotForum. I told them at the time that this "Scotia Announcement" might be something that we look back upon in a few months as the turning point...sort of like how one angry, self-immolating peasant in Tunisia can set in place a chain of events that is leading to massive change in the entire MENA region. In all seriousness, this may be nothing. Just more windmills at which The Turd can tilt. However, it might also be the event that finally causes the collapse of the entire Comex/Cartel/TBTF complex. Time will tell.