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The Great Raid That Wasn't

The Turd doesn't like being wrong. However, in this case, I don't mind so much.

Objectives Met

As you know, I've been looking for a short-term peak in Dec gold, somewhere around 1680. I've also been looking for Sep silver to trade to a peak between 42 and 42.50. You may have noticed that this morning I simply split the difference and called for 42.25. I have intraday highs of $1675.90 in the December gold and $42.06 in the September silver. That's definitely close enough!

Sorry About That

I apologize for the site being down for a few minutes this morning. We just needed to adjust a few settings on the servers and now we're good to go.


The feeling I have today is something akin to being long crude when war flares up in the Middle East. You're making money but since its on the back of such sad and tragic news, a lot of the fun is sapped out of it.

Rational Minds Prevail

As hoped for, rational minds prevailed in the overnight trade and gold has been pushed to a new, all-time high near 1644. Apparently, guaranteeing a 20% increase in the U.S. national debt over the next two years is sufficient reason to buy more gold. Really? Ya think?

Passing The Time

I must admit that days like today are really tough. The PMs are not trading on any rational fundos. They are simply reacting to headlines and the algo gyrations they cause. Yuck.

WOPR Sells. Turd Buys.

In a surprising development <sarc on>, The Regime and The Republocrats are on track to reach a "grand compromise"...

Weekly Charts

Presented without further comment. Turd tired. Turd need break. Regardless, Turd can't wait for Sunday 6:00.

Another Stair Higher

While CNBS et al struggle to explain the awful, miserable and pathetic GDP numbers, I certainly hope that none of this comes as any surprise to you.

1650 and 42

I'm still confident we're headed there as soon as next week. Here's why.

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