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Weren't the looks on the faces of The Shill and The Coug absolutely priceless? "What? An upside surprise?" Look, we don't refer to it as the BLS"BS" report around here for nothing.

It Has To Be Said, So I'll Say It

The U.S stock market now off over 10% in the past three weeks. Pundits and analysts are panting and scratching their heads, searching for the root causes. The typical "news" story goes something like this, from the WSJ:

Overnight and Tomorrow

It's 3:20 and, as I type, the Dow is down 392. It'll probably get worse into the close and folks who were trying to hold on, hoping for a late-day comeback, give up and sell.

Into tomorrow, we are about to discover the degree to which gold, and to some extent silver, are now regarded as a safe haven currency instead of a commodity.

Opportunity Knocks

I've been out all morning but watching events from my iphone. Yikes! I was afraid that the selling in everything else would eventually spill over into the PMs. Sure as heck it did! The question is...now what?

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.

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