We all know from lots of experience and heartbreak how powerful the EE is. We are also seeing that power being eroded everyday as the global credit and debt crisis unfolds and people scramble to protect what's left of their wealth. This week will be another test of their power especially as we approach options expiry on Thursday and gold futures expire on Monday. Also, this week we have a bigwig meeting at Jackson Hole, Wyoming where Bernanke is scheduled to speak on Friday. It is traditional for them to viciously attack the PM's on or just before these events occur. So, we have a potential double whammy weighing against the prices of gold and silver just over the horizon. Lets look forward to this time with the hope that we will see a further weakening of their power as todays FUBM in silver indicates.
We have been doing so well as of late, that getting upset at their short term successes only puts into question our faith in the fundamentals which are driving this market. We know that truth will prevail and the fundamental laws of economics are as certain, in my mind at least, as are the very laws of physics that governs the movement of the planets in our solar system. Please people, do not despair at the short term successes of the EE. Just plan accordingly when you make your day trading decisions. If you are a long term buy and hold buyer, then you have nothing to worry about, even if watching their crimes arouses intense anger at times.