Metals doing well despite recent dollar strength

USD

HUI

 Metals especially Gold has been very strong against the EUR and has done well despite the USD strength. Silver is up over 2% this morning and gold is up as well but to a lesser degree. We know about the recent news out of eurzone (PIIGs) so I understand metals strength against the EUR but I don't get why the metals relative strength against the USD. Yes, I know all of our debt issues, and inflation and government spending and money printing and all that, but then why is the dollar going up everyday.

Is QE really going to end and then where will the money come from to run the government. Will they start seizing 401k's to fund the deficits or government worker pension funds, will they nationalize businesses.

So what is the plan for us? I mean really what the heck is the big secret? Okay, so you stop QE now what? There is a week left and no one knows what the plan is, where is the money going to come from. Ask yourself, why are people bidding up the dollar or are they confusing the   end of the eurozone leading to weakness in the euro and since the eur/usd  are paired the dollar strengthens by default and not due to fundamental reasons.

Silver

 Unless the FED wants to start a global depression, which they may just do just to screw with the Chinese (Indians) or preserve the Federal reserve notes (the dollars). I mean Obama was out in Mumbai not to long ago admitting we are losing the economic battle against China and India and by now they know they can't print their way out of this mess. They may just say F-It and take everyone down.

They should have done that in 08 and then started over. They only people who benefited from all the bailouts and money printing were the
the banksters and auto makers etc.

CCI

    In conclusion, I don't think anyone knows whats going on.
    If there was a viable plan we'd have it already.

Gold

One of the Most Dangerous Banksters on the Planet – Jamie Dimon

JP Morgan Chase &Co has a pretty slick mouth piece telling anybody that will listen a lot of things that basically is a ploy to keep his traitorous ass out of prison. The former class A director of the New York Federal Reserve is a circus barker for the corrupt that helped bring American down. His predecessor Henry Paulson is a close second. What this clown wants to do should make the hairs on the back of your neck stand up. During an inquiry, Senator Bernie Sanders questions the Federal Reserve Lending practices of tax payer money, facilitated by the corporate mobster in chief below:

“Bernie Sanders, meanwhile, observes that Jamie Dimon was serving on the Board of the NY Fed at the same time as sucking at its teat.

Under court order, the Federal Reserve today identified more banks that took loans during the financial crisis using a once-secret system that Sen. Bernie Sanders (I-Vt.) called “welfare for the rich and powerful.”A Sanders provision in the Wall Street reform law already had forced the Fed last Dec. 1 to name banks that took trillions of dollars in emergency loans during the crisis.



“The Federal Reserve bailout was welfare for the rich and powerful and you-are-on-your-own rugged individualism for everyone else,” Sanders said. “The information released by the Fed today should never have been kept secret. This money does not belong to the Federal Reserve; it belongs to the American people. I applaud Bloomberg News, Fox News and others for their success in lifting another veil of secrecy at the Fed.”

Sanders said the latest disclosure raises questions about conflicts of interest. While Jamie Dimon, the CEO of JP Morgan Chase, served on the board of directors of the New York Fed, in one month alone, April of 2008, JP Morgan Chase received a combined $313 billion in Fed loans.

“This is an obvious conflict of interest on its face that must be investigated as part of the independent audit that my amendment requires to be completed this summer. When JP Morgan Chase was telling the world about their great financial success, it seems like they were using the Fed’s discount window as a giant piggy bank.”

What this slick CEO American bankster isn’t telling you is why he is so dangerous. This man must be watched extremely close. Preferably from a padded cell inside of Rikers Island prison.

Original Article

Silver Update

Silver has been building a base after the manufactured sell off which began May 1st. It continues to have extremely strong support at the 32-33 level, and has had three weekly closes in a row above 35. For today, if I get a chance to buy some paper it will be at the 34 level where is is some decent support, with the strength in the dollar (or the weakness in euro) we may get to 34.

There is an excellent post by trader Dan Norcini explaining what is going on inside the Silver market right now, see his commitment of traders report. He explains how the bullion banks are now going long and that hedge funds money levels in Silver are down to extremely low levels, not seen in a couple of years when silver was trading a lot lower in price.

Most people now know what the fundamental reason are for being in precious metals but if you don't read post by TF over at along the watchtower as he explains why QE can't and won't end and what to expect in Silver in the next few days, it is actionable information.

dollar spiked up over 76 this morning

HUI sold off and recovered quickly this  morning,
HUI will lead metals  higher

Bottom line is that this isn't the time to panic and sell, this isn't the time to trade out of boredom, its time to be patient. A lot of damage has been done, lots of people lost lots of money, they are wounded, and need time to heal.

SPX Recap

The SPX lost 10 points on Friday, and the futures are down 11 this morning on European debt concerns mostly and the Euro is taking a beating, USD index is above critical resistance level of 76.2 this morning and everything commodity related is down as well, but surprisingly gold is down just a fraction after being up 18 dollars on Friday.

Taking a look at Friday's option expiration session began with a gap lower and followed through by shedding thirteen points and putting the low of the day on the chart just before 11:00 am. The SPX then bounced to test the highs of the day eleven points off the lows before 2:00 pm. But the last two hours of the session saw the index give back most of that bounce to close just a few points off the lows.

Market breadth Friday was extremely negative, especially with the declining volume ratio exceeding the declining issues ratio. However; the ten day average of Net Advancing remains positive so I am seeing conflicting information.

Checking the Breadth Indicators we have indicators pointing both directions. The McClellan Oscillator is on the brink of oversold and the Summation Index has reached a point where we've seen bounces in the recent past.

In the SPX Index there were 151 components advancing and 321 components declining. There were 100 new highs and 22 new lows. The five day moving average of New Highs is 119 while the five day moving average of New Lows is 29 and the ten day moving average of Net Advancing is 102.

Declining volume was higher at a ratio of 2.7 to one. 51.8% of the SPX are above their five day moving average, 39.2% are above their 10 day average, 35.6% are above their 20 day moving average, 51.2% are above their 50 day moving average, and 79.2% are above their 200 day moving average.

We are going to break below major support in the SPX at the open lets see where we close on the day. Sell in may and go away?