Monday, July 18, 2011

Monday morning jollies

3:15 am (Hawaii) I am half-expecting to write, by mid-day, that Spot Gold and Spot Silver will have been kneecapped by the CME mafia in waterfall fashion. Until then, both are holding early-morning gains. Gold was knocked down from its earlier high, but is at 1599.00. Silver is at 40.29. The technicians no doubt would like to see both consolidate at these levels and build firm support for the next rise, but really, when the puppeteers decide to break out the baseball bats and inflict the bulls with margin hikes, technicals won't matter.

Too pessimistic? Maybe. Just being a realist. Be prepared!

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