Maybe you've noticed the correlation. Every time The Pig sells off, the conversation here inevitably turns to bacon. I'm not sure why. Maybe it's just one of those subliminal deals.
At any rate, here's a current, graphic image of ole Pigatha Christie:
As you can see, The Pig rests rather precariously on the edge this evening. The area between 76 and 76.50 has alternated between support and resistance for several months. It is currently acting as support again. The next few days should tell the tale. The POSX will either rebound decisively or support will give way, leading to an initial decline to near 75. See below:
Of course, another Calvin "bounce" for The World's Reserve Currency matters little. Where you're headed tomorrow is of little importance when the long-term picture looks like this:
Gold and silver both turned in terrific performances today as they attempt to take out significant resistance and add to their hard-fought gains of late. Gold, by closing today above 1720, looks poised for a quick run to 1765 or so. Silver, if it can just get through 34, should quickly spring toward 37.
Lastly, another site update. No, I am not "trolling for dollars" as some like to claim. In fact, the site is currently on a reasonably sound footing. However, I have received numerous emails asking for:
a) A way to "donate" without using PayPal
b) A way to donate automatically/regularly, on a once-a-month basis
We have accomplished both by adding a revised "Feed The Turd" page. You can find it here:
Note that we've added the ability for generous benefactors to pay The Shimshock Group directly when choosing to help with site management and construction. Anyone that chooses this route can rest comfortably, knowing that their money is being applied directly to the site and not to The Turd's "credit" account at The Bellagio.
Thanks again for all your help in building and maintaining the site. Keep the faith. The rest of this week promises to be pretty interesting. TF