The Small Businessman

Man-o-man. This small business stuff is fun but it can sure wear you out. On one hand, it's very cool to make all your own decisions and be responsible for getting things done. On the other, it's exhausting having to make all you own decisions and being the only one who will get things done. Thank you for your patience as this week is a very important one for Mrs F and she requires my attention. I promise that by next week we will return you to your regularly scheduled blogging.

A couple of things...

Having had 12+ hours of hindsight, I'm stunned now at the blatancy of the EE smackdown back at 5:00 am EDT. A brutal, $1.50+ bloodletting courtesy of your friends in The Cartel. From a distance, I was also surprised by my reaction to it. I used to get all strung out and pissed off over such things but now I'm just like, "whatever". It's such blatant criminality and manipulation but no seems to care so why should I? Seriously, the CFTC couldn't give a shit. The SEC looks the other way. Congress passes a law with position limits and the law is simply ignored. You don't like the law? Screw it! Who cares? Ignore it! That's how it works these days in The Land of The Free and the Home of The Brave.

A bunch of interesting "conversations" in the comments section of the previous thread. Please allow me to touch upon a few:

1) I don't know who this "Trinity" person is and, frankly, I don't care. If it comes back, that's perfectly fine with me. It can post whatever it likes so long as it stays within the bounds of decorum we all follow. Never forget that, in the end, this is my blog and I have final say on content. I'm also the one who ultimately gets to judge readers/commenters as either "helpful" or "douchebags". Trinity's initial comment here was deeply into "douchebag" territory and it was labeled as such. If it chooses to participate in the future, it has the opportunity to work to remove that label. Until then, the label sticks.

2) Greek default and euro weakness is not PM negative. Oh sure, maybe on a one-day basis the euro may fall, the POSX may rise and WOPR will sell some PM. However, we are now at the endgame of the fiat currency, keynesian experiment. The number of folks protecting themselves with PM is growing each day. Going forward, all dips will be bought. Maybe not the next day or the next week, but all dips will, most surely, be bought eventually. Count on it.

3) We all disagree from time to time but please try to keep the name-calling and profanity to a minimum. I will disable comments before I allow threads to become the cesspool of pettiness that plagues every other PM blog available today. Got it, you f***ing c**ks***ers? OK.

Now, here are some quick charts. The silver chart has almost completed its FUBM from this morning. It just needs to move now through 37.70 and then it will head back to 38. I've got a last of 37.68 so things are looking up!

I don't recall when but, sometime last week, I told you that gold would struggle to clear 1525 and then pull back to 1515 before mounting a successful, final charge through that level. Lo and behold, looky here! (If it wasn't me that was doing it, I'd swear that this Turd guy was either some kind of witch or a mole/plant of the Evil Empire. The frickin guy is almost kind of spooky sometimes.)

Lastly, the POSX is once again in danger of rolling over like the dog it is. This "calvin" bounce needs to continue higher...and soon...or it will restart it's death spiral and the hounds will be unleashed.

My buddy, Trader Dan, has a better picture and more complete analysis of it. You can find it here:
http://traderdannorcini.blogspot.com/2011/05/us-dollar-running-into-some-selling.html
He's such a nice guy, Trader Dan. Almost everyone else I know is a cynical, dour narcissist like me but not ole Dan. How he's able to remain so pleasant and cheery after all these years of commodity trading is beyond me. You should be sure to read his blog daily.

That's it. I have to head back over to wifey's new store to work on a few more details. Have a great overnight and let's see what tomorrow brings. Fridays before 3-day weekends are always extra exciting.
TF