Thursday, August 16, 2007

Get Back In The Saddle

Let's just fantasize for a moment... As the markets open on a bustling Friday morning, there is a sudden flash, and the COMEX is vaporized. Terrorists? No, vengeance. Never in the history of mankind has a criminal act such as that which occurred today on the COMEX been witnessed. At precisely 10AM est the rug was pulled out from under Gold AND Silver. Only on the paper pushing COMEX could an event in Precious Metals like that witnessed today occur. This "event" was NOT about a weakness in Gold and Silver. It was about an opportunity for Dem RAT F***ING BASTIDS on the COMEX to once again STEAL from the public. NOT ONE SINGLE OUNCE OF SILVER OR GOLD WAS SOLD TODAY in New York. Just a lot of paper flushed down the toilet and the prices along with it. Disgusting!

So what do we do? We get right back on the horse, and attack these SOBs. They WILL be destroyed. Everything that's occurring globally to the financial system of the planet all but guarantees the imminent ascent of Gold AND Silver to the stratosphere and beyond. The Fed in the end will have to SLASH interest rates at the behest of the power base in Washington. This will crush the Dollar. Crush it I tell you. The absolute destruction of the US Economy is upon us all here and now. Unless the Fed throws Wall Street a bone, our children are destined to grow up in a third world country.

Laugh if you must. Gold and Silver "should" be vaulting in an environment such as we've seen the past two weeks. If things are so bad that the "money of last resort", Gold and Silver must be sold simply to raise cash, then things are perilously serious at this very hour. What we have witnessed today is absolutely shocking. It's time to back up the truck people. Folks should be selling everything they own to buy Gold and Silver now...NOT selling their Gold and Silver.

Relatively, Gold has held up quite well in the face of this carnage. Silver has been the victim of blatant criminal activity. I suggest buying Silver on the way back up, and forget about catching the bottom. Attractive buy opportunities may be found along the mountain face as we climb back up it. They are: 12.11, 12.33, 12.58. These numbers all represent old support, that has now become new Resistance. Breaching them one by one should build momentum as we scale the mountain.

Gold's volatility may persist a while longer, or end just as abruptly as it tanked this morning. They key to Gold is 658. Old support, now new resistance. Regain and hold 658, and the mountain top launching pad at 700 is back in site. Moving forward in time only lowers the price at which the downtrend line off the May 2006 730 high will be breached. Today that price is 679.

I got as screwed as the rest of our community today...but I remain firmly committed to the inevitable ascension of Gold to it's rightful place as The World's Real Money. And it's little albino brother, Silver, following in it's footsteps. In a sea of liquidity, only "real" money floats to the top.

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