Look, I know that the stock market was down 400 points today. Maybe this can be written off as simple coincidence. As you know, though, I don't believe in coincidences when it comes to the PMs.
Last night, I wrote in some detail again about the outright manipulation seen on the afterhours Globex. The pantywaste, sissy Cartel likes to attack when no one is around. In the past, I've compared them to the movie bad guy who shoots our hero in the back as soon as he turns and walks away. That's still a pretty good analogy. During regular Comex hours, gold held in quite well. It had been repelled at 1800 but it was still hovering around 1790. Not too shabby considering the rally in the dollar and drop in stocks. Then, just 20 minutes after the Comex closed, the cowardly Cartel attacks on the Globex, where volume is about 10% of what it was during regular hours. The result, a steep drop in price. Most brazenly, The Forces of Darkness had the audacity to attack at the exact same time as yesterday. Here, see for yourself:
Oh well, screw 'em. Whaddayagonnado. Their job is to manipulate and manage the inevitable, grinding ascent of gold. They will continue to win small battles here and there but they will lose the war. Their days are numbered. Until then, I'll just keep on stacking and fart in their general direction.
(Hey, Blythe. Your mother was a hamster and your father smelt of elderberries!)
On the bright side, the support levels I gave you earlier have held up beautifully...so far. Gold is finding support near 1770 and silver looks stout at 34. See the previous thread for the charts.
Back to MFing Global for a minute. If you haven't read this yet, please do so now:
Now that you're thoroughly pissed off, read this, too:
For good measure, let me give you this one:
https://www.businessinsider.com/two-mf-global-clients-share-their-stories-2011-11
And, just for fun:
These corrupt MFers deserve every bit of punishment that is coming to them. Sadly, I doubt they'll receive any. Corzine it way too well connected to be indicted. The proverbial shitball will simply roll downhill until some lowly clerk gets buried in it. That person will be perp-walked and the media will move onto the next big story. Cynical, I suppose. Likely, yes.
I'll be out most of the day again tomorrow so this will probably be your open thread throughout the day. I'll be posting comments from time to time so check those pages if you're looking for my current thoughts on what promises to be another crazy day. TF
