Examining the disconnect between perception and reality
I was reading Chris Puplava's piece titled: "Silver’s 2nd Most Oversold Reading in a Decade"http://tinyurl.com/3lbbh6zIn it he advises caution on loading the boat at this point but did add that he was looking at a dollar support line of 76 before entering the water:"For the all clear to be signalled for silver, we would likely need to see the USD Index break below $76. As long as the USD remains above its 200d MA I think playing defense for precious metals is the proper strategy."GYSC, do you think he is in the ballpark with his analysis?(It's a quick read what with all the charts in the article)
Watchtower,with the Dexia bank thing and Euro crap in general, I think its time to wait on metals. If silver hits 26 good to add, at 22 its load the boat time.
I concur and I always buy on the dips. Enjoy your mini-vacation!G
Lol, it's a wonder I've made it as far as I have, after reading my comment I do believe that I have twisted it somewhat.So basically what it all boils down to is that if the dollar keeps rallying we might get a chance at Ag in the lower 20's, at least that is what I think Chris was saying.And with what GYSC was saying about Europe and Dexia, it's possible that the US dollar might be looked upon as a somewhat safe haven in the chaos.
Have a great time in NYC GYSC!Hopefully you'll have a post about your trip sometime in the future.
Well, I watched the Patriots-Jets game, to scout out the opponent for next week's game.That was New England's 19th consecutive victory at home and 13th consecutive game to score at least 30 points in Foxborough. Wow.Most impressive was how the Patriots won. Nursing a 6-point lead midway through the 4th quarter, they ran the ball, marched down the field, took six minutes off the clock, and kicked a field goal to take a 9-point, two score, lead. Then they pinned the Jets at their 20 on the kickoff, leaving them with only 1 1/2 mintues to move down the field, score a touchdown, recover an onside kick, move down the field into field goal position, kick a field goal to win, with only one time out. Of course, the Jets sputtered at midfield when Sanchez was sacked on the final play of regulation.Now, that's football. Dallas will be hard pressed to win this game.
Ugh! GYSC and I watched the game together in a quaint Irish pub here in NYC. As a Jets fan, I was *not* amused. But hats off to the Pats. It was a pretty damn good game!Also, I'm writing this after way too many draughts of Guinness . . .P.S. -- GYSC is a very cool dude in person. Too cool for school, as we say where I'm from. ;)
Gawains, yes I was surprised how well they ran it late.David, had a great time! Thanks for meeting up.
Jealous! You boys are not allowed to have drinks without me next time!
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