Hangin' Tough

355
Fri, Oct 19, 2012 - 9:53am

Are you tough enough?

New Kids On The Block - Hangin' Tough

Frankly, I can't believe I just posted a New Kids On The Block video. A new low, if there ever was one. Oh well, if there are any 30-something female Turdites out there, I'm sure they appreciate it.

Just a quick post this morning as I have lots to do including a podcast recording for release later today.

The metals were, of course, pressured overnight. As noted in the "update" of the previous post, anytime you see blatant Globex selling immediately after the Comex closes, you can be almost guaranteed of an overnight and next-day raid. And so it is.

Regardless, the damage is minimal. So far, the 1730-1735 area has held like a champ in gold and has laid the groundwork for a double bottom. Silver would show a double bottom, too, if it weren't for the obvious attempt to have a go at the 50-day moving average near $32.50. That level will be the key to watch today as you know with 100% certainty that The Forces of Darkness would give anything to close the week below there. If they're successful, we'll see more weakness early next week and a likely drop toward $31.00-31.50 before the final low of this manufactured "correction" is in. IF silver can instead rebound today, and I have a last of $32.45, then we'll most likely have our bottom and we'll see a breakout next week.

So, watch those levels closely today. Can gold hold and close above $1730-35? Can silver hold and close above $32.50. Today's battle is ON. Are you tough enough?

TF

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  355 Comments

¤
Oct 19, 2012 - 10:15am

Hangin' Tough - Silent Rage

Chuck Norris....

Video unavailable
JimmyTheHand
Oct 19, 2012 - 10:17am

@SilverSurfers and Mr. Turd

Congrats on quiting smoking! I hat tipped you one!

Turd - I saw some talk last night about large amounts of physical leaving the comex... I believe that actually happened already LAST friday and think that is what Jim was referencing to. I could be wrong but saw this last week over at SilverDoctors site: https://www.silverdoctors.com/massive-comex-silver-withdrawal-on-friday/

Biochar
Oct 19, 2012 - 10:20am

I prefer the girl groups...

nothing better than K-pop: here's GIRLS' GENERATION on Letterman

Video unavailable

another great Korean export is 2NE1... suggested tracks:

Hate You, I Love You, Can't Nobody, I Am The Best

(other good tracks by GG: Genie, Twinkle, Run Devil Run)

all on iTunes of course

Rotag
Oct 19, 2012 - 10:24am
Bollocks
Oct 19, 2012 - 10:28am

This HAS to be a wind-up ...

Petrol 'produced from air and water'

A British firm based on Teeside says it's designed revolutionary new technology that can produce petrol using air and water.

Air Fuel Synthesis in Stockton-on-Tees has produced five litres of petrol since August, but hopes to be in production by 2015 making synthetic fuel targeted at the motor sports sector.

The company believes the technique could help solve energy supply problems and curb global warming.

Video here: https://www.bbc.co.uk/news/business-20003704

Did someone say Methanol? That's not air and water.

SilverSurfers
Oct 19, 2012 - 10:31am

Turd is hanging Tuff

with the right stuff, Silver, Guns, Food .....

New Kids On The Block - You Got (The Right Stuff)

Egon von Greyerz KWN is saying that the swiss will go to legal tender gold coin.

I guess that euro peg aint cuttin it politically. THIS IS HUGE

because totalitarianism collapses when cap gains are removed from bullion.

very very exciting times to watch the metals and the political fall out.

Dr G
Oct 19, 2012 - 10:31am

Yes, it appears the magic

Yes, it appears the magic line will act as resistance. If one has his heart set on simply higher prices, then this continuous drip, drip, drip action is enough to make him vomit. Weakness in Asia, selling in London...same story every day.

¤
Oct 19, 2012 - 10:40am

Are you tough enough?

Tough Mudder events are hardcore 10-12 mile obstacle courses designed by British Special Forces to test your all around strength, stamina, mental grit, and camaraderie.

With the most innovative courses, half a million inspiring participants, and more than $3 million raised for the Wounded Warrior Project, Tough Mudder is the premier adventure challenge series in the world.

Video unavailable
treefrog Bollocks
Oct 19, 2012 - 10:44am

bollocks,

that bimbette on the clip obviously is neither a chemist nor an industrial engineer. i suspect she was skipping over a lot of detail. in her explanation of the process, she said "this is methanol which the company has manufactured..." it may well be that it was manufactured from air and water. methanol contains carbon and hydrogen. lots of hydrogen in water. carbon is found in co2, which is found in air. not saying that's so, just saying that clip was "detail challenged."

SilverTree
Oct 19, 2012 - 10:46am

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