The end of the Great Keynesian Experiment is upon us. Turd Ferguson and his band of loyal Turdites patrol this Watchtower. We are here to help each other navigate the coming economic chaos. However, no one can predict every eventuality, so please read the disclaimer and community guidelines before proceeding.

Lives, Fortunes and Honor

Monday is the 235th anniversary of the signing of the American Declaration of Independence. As such, I'm dispensing with the regular, weekend chart update. Today, I'd like you to consider the words of The Declaration as well as the events that led to its signing.

The Doldrum Whipsaw

Man-oh-man, I sure hope I was able to save you some money with this post from Wednesday:

Here is the main section you need to keep in mind:

Sprott Latest (MUST READ!) and a Turdite Video

Two quick things this morning. First check out this email and video I received yesterday. We should all be proud of the initiative our fellow Turdite has shown!


A lot of green on our screens this afternoon. Be careful, however. Just as soon as you get greedy, you'll get crushed by fear. Such are the dreaded doldrums. Now, onto the charts...

First of all, if you're trying to trade, you must be a masochist. If you are a trading masochist, you should watch the POSX first and foremost. Until and unless the September POSX breaks down through 74.86, you're susceptible to a very quick, snapback rally toward 76.40. You've been warned.

Updating Crude

The crude oil chart has my attention this morning. You may recall that I wrote this last Wednesday:

Mid-Day Update

With everyone waiting for the action in Greece tomorrow, today is pretty quiet (dull). As such, The Turd feels the need to make himself useful in other ways.

The Dipman Cometh

Wow, what a brutal day today was, particularly in silver. The short-term charts of silver and gold both look awful and both look to head even lower. However, a trading opportunity may be about to arise so pay attention this week.

First up, the POSX is trying to rally but it has having a devil of a time getting by the 76.60 area on the chart. Note how quickly buying enthusiasm dries up each time it reaches near that level. One more failed attempt at that level may inspire the dollar bears and, as we all know, a weakening dollar adds buying support to the PMs.

More Charts

As we start the week, I wanted to give you even greater detail on the gold and crude markets.

First, here's a weekly gold chart that takes us back almost three years. Again, note that the trend from the bottom has continued unabated but that every six months or so, price reverts back to the trendline.


Saturday Stuff

Hello there. Sorry I was AWOL yesterday. I had lots and lots to do plus I needed a break. I didn't open my Lind-Waldock account all day. Also, I wanted to leave the last post from Thursday up all day so that as many as possible would read it. I guess it worked as the total is now approaching 10,000.

First of all, before we consider the events of this week, please go back and read this:

What Now?

What an interesting seven weeks it's been. From the jubilation of late April to the frustration of early May to the despair of today, we've certainly ridden the trader rollercoaster.

I've tried to lead the way through the darkness but this sorcerer/soothsayer stuff is pretty challenging, particularly when you're dealing with a criminal enterprise on the other side of your trades. Regardless, let's recap so that we can begin to decide where to go from here.

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