What a great day. Today showed that silver again bounced off a key technical area. The rest of this trading week should set the tone till the Bernanke PUT takes it toll.
Its really weird. The market seems like it wants to capitulate into the Abyss. The banks stocks literally look worse then pre-LEH death, but there always seems to be a large block buyer stepping in and buying the downdrafts. This is different than 2008. I mean if you had a heart beat and a trading account, all you had to do was hit the short key and the floodgates would open. Sometimes when I would put up my bid to cover, I would accidentally crossed in because the move was already made by the time I looked up off the hot key. I see weakness, but not like 08.
Not much else to add. Its seems like there is so much going on, but nothing happening on the NA side that we can capitalize on. I was a buyer of silver today. I'm starting to nibble, the next three days I will tell you if I'm biting.
And I hate to keep bringing this up, but the CFTC shirt changes might add some spark 4th week of September....
Find some fiat, remain calm, this is the channel on silver I have been waiting for. Should take another 2 weeks (on the chart) to fully tighten in on that formation and then its go time.
Holders of Tinka get ready, should be receiving drills at any time. 50/50 from here. Heads or tails?
Lastly, the site should be launched Monday. To those who have donated for the cause thanks, every dollar is going into this project, and will continue to go into the site till I am satisfied and my bloggers are satisfied on functionality.