Finally, some action similar to what I was looking for this week. Thank you, Mr. Ben Bernank!
For this post, I'll dispense with all of the economic doom and gloom and concentrate solely upon the technicals. I know that most of you reading this are only looking numbers today, anyway, so here you go.
Yuck. This week is turning out to be one that I'll want to forget. I had thought/hoped it would be a volatile week with new money finally flowing back into the PM pits. Wrong! Just the same old, same old.
As Barney Fife would say: "Boyohboyohboyohboyohboyohboyohboyohboy". Do we ever have a humdinger of a week ahead of us. So, to get our heads screwed on straight and prepare, I thought it best to roll out a little Sunday afternoon warm up.
I was recording this week's podcast yesterday when it finally dawned on me. Frankly, I'm disappointed in myself that I didn't figure it out sooner. Take your eye off the ball and get a little distracted and this is what you get. No matter, at least now we know.
The fix was in early today. Even though The Pig fell through support, gold was pressured all last evening in the U.S. It rose for a couple of minutes in Asia/London before it was summarily beaten back.