Getting a bit of a late start today so I'm just cobbling together a post so that everyone has a new thread to play with.
I must say that the biggest disappointment in the BLSBS report this morning was The Coug's new hairstyle. She's kind of gone with a new, old maid school marm look. Ick. If she continues down this road, she'll need to be renamed. The Shill was his usual keynesian self and, because the imaginary numbers were so bland and uneventful, the LSHI never reached higher than about a 3. Yawn.
Ah, but all of this was more than enough "cover" for The Forces of Darkness. Immediately following the release of the report at 8:30, The Monkeys were set loose from their cages and, over the next half hour, gold was clipped for $25 and silver beaten for nearly $1.
Rather significantly, though, our erstwhile support levels held once again. Note on the charts above that gold reversed right at 1680 and silver never even made it to $33. And now, we are in the midst of some full-blown FUBLSBS rebounds. The main thing to watch today will be the closing levels. If silver can move back toward 34 and gold toward 1700, we will have dodged another bullet from the Cartel's gun. If things could really get going, we'd have a shot at a "green" week. Gold closed last Friday at 1710 and silver closed at 34.53. It's probably a pipe dream...but...to reverse and close positive for the week would be a very significant development. Hey, a guy can dream, can't he? Anyway, those are at least some levels to root for today. We'll probably have a positive Globex trade this afternoon, too, as there is a nearly 100% chance of seeing significantly improved CoT reports for both metals.
That's all for now. Have a great day and smile knowing that this week could have been a lot worse. TF