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Cap Still In Place

The fix was in early today. Even though The Pig fell through support, gold was pressured all last evening in the U.S. It rose for a couple of minutes in Asia/London before it was summarily beaten back.

All About The Pig

Doesn't it seem as if everything is at a bit of a standstill? Sure, the WOPRs are slowly churning away but there doesn't seem to be any real conviction anywhere to drive markets higher or lower. Yes, there's a lot of uncertainty about Europe but, for me, it all comes back to The Pig.

Stop the Internet Blacklist Legislation, SOPA and PIPA

The TF Metals Report background has been turned black for a day to protest the pending Internet blacklist bills, SOPA and PIPA. For more information, and to write your representative, go to: http://blacklist.eff.org

Taking a Licking. Still Ticking.

Another series of ruthless attacks have left the precious metals battered and bruised but they are still standing and looking like they want to continue moving higher.

Getting Ready For a Big Week

Sorry for the late update this morning. Lots going on in my personal Turdland and I'm just now getting an opportunity to post some charts. That said, we are off to a great start and this week may become rather consequential as we go along.

Long-Term Charts for a Long-Term Weekend

First of all, I want to thank everyone for their condolences and well wishes for my pal, Sweetness. He's had a tough go of it recently and every bit of encouragement helps.

With the U.S. markets closed tomorrow, we all have to be on the lookout for some Cartel Craziness between now and Tuesday morning. The Jackals have been utilizing some of these three-day weekends recently to wreak havoc on our precious metals so be on the lookout for all types of shenanigans, especially in light of the European credit downgrades that were announced late Friday.

Open, Weekend Thread

I am going to be away for the next 36 hours, or so. Sadly, the mother of my friend "Sweetness" passed away earlier this week following a long battle with cancer. She was only 70 years old. She should have had at least 20 more years of birthdays, baptisms and weddings. Instead, that evil, insidious disease claims her as another victim. Do me a favor. Relax and be happy this weekend. Take some time away from all the endless C/C/C/Fed/ECB nonsense. Sit back, count your true blessings and thank your Creator for the opportunity to live and love.

That said, here's a little C/C/C/Fed/ECB nonsense to help you pass the time.

Carrying The Dollar

Lots of stuff going on but not a lot of time today so I have to keep this relatively brief.

Proceeding As Planned

OK. I'd say that everything is proceeding along almost exactly was planned. I would have preferred that price not retreat as far as it did during the Comex session but it's not as if the attack was unexpected.

Breakout Coming? An Important 24 Hours Begins Now.

As we've gone through this week, I've tried to lead you to this point. We examined open interest and secondary technical indicators. Everything points toward a bottom and a breakout. Now the question is: Will price follow? We will soon know. The next 24-48 hours will tell the tale.

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