What Else Could This Be But Buggery

The only time i saw a pattern like this was after a mistake of some sort. News error or Computer glitch like over last Summer. Unreal what these guys are doing to the silver market. They have the rules stacked in their favor and backed by the government and cause pain for any amount of time they wish (keep printing more money). And when they don't like the rules, well they will just change them. I can't believe this is happening here, in the greatest country in the world!

So Everyone is Printing Money: Zerohedge.com

Henry Morganthau Jr., said in 1939:

Never in the history of the world has there been a situation so bad that the government can’t make it worse


Greenspan started this calamitous monetary expansion to bail out US Inc and banks from the tech wreck in 2000,as revealed in the chart of the price of gold  below.  Bernanke continued the stimulus and Darling/Osbourne, Trichet et had no choice but to follow.


The Japanese has had thrown vast amounts of stimulus money at the economy since 1990 to little or no effect and all they got was more debt


 Read More

SPX & Metals Update

What can anyone say about what we saw in Silver yesterday, I mean WOW! It was absolutely staggering (a fall of a cliff, it was like the day), the banksters waited until the close of the Comex and hammered paper silver into the ground. I am really nervous again today for I feel another haircut coming around the same time as we saw yesterday, can't assume its a one day phenomenon. Or maybe they dont want to mess around over the weekend, a lot can happen globally (Egypt, Libya etc). The physical players love it when the paper guys do this stuff and then they just come in and buy it cheaper. I was in a lot of pain yesterday.

Thursday's session began with a small gap lower and traded a few points downward before quickly bouncing to put the high of the day on the chart at 10:21. But from then until 2:00 pm sellers came in wave after wave and took the index down almost seventeen points to put the low of the day on the chart at 1:56. 


But a very sharp bounce ensued bringing the index up more than ten points off the lows in about forty-five minutes. But buyers weren't yet done; after a brief consolidation the index was ran up another five points. But traders surrendered a few points into the close to finish the session just into the upper third of the intraday range.


Yesterday I wrote about not buying this dip and once again my indicators (self developed of course) WRONG AGAIN. It looked for a while there as 15 minutes after i wrote dont buy the dip, the market fell harder. But as usual something happened that the market then listening to my call just stopped on a dime and reversed course and is up about 24 points off that low. On a consolation note I wrote about a short-term target of 1290, well we got as far as 1294 so, Ahhh i still dont feel any better. 


SPX breadth was positive. NYSE breadth was positive. NASDAQ breadth was positive. Yet many indices closed negatively. But the ten day average of Net Advancing moved upward today and the NYSE Composite Index outperformed the SPX. indices are in rally mode on Friday, there will is denying that the character of the market has not changed. SORRY BEARS.


Sectors stronger than the SPX for Thursday:
- Industrials -- Outperformed the SPX by +65%.
- Technology -- Outperformed the SPX by +45%.
- Health Care -- Outperformed the SPX by +45%.
- Consumer Discretionary -- Outperformed the SPX by +70%.
 
Sectors weaker than the SPX for Thursday:
- Basic Materials -- Underperformed the SPX by -42%.
- Energy -- Underperformed the SPX by -132%.
- Financials -- Underperformed the SPX by -14%.
- Consumer Staples -- Underperformed the SPX by -31%.
- Utilities -- Underperformed the SPX by -29%.
  

Time to step in and re-buy URZ

Been right about this stock since it was at 2 bucks, the MACD is at an oversold level the last time its was down here the price skyrocketed, the secular bull in Uranium is alive and well see previous posts on the matter. Its holding the 50dma. Put a stop close below whatever you are comfortable with, I'll take a 5% hit on this new buy.