RetardedMonkey said:
That was a massive overnight run up.
http://forums.silverstackers.com/uploads/910_uss_carl_vinson.jpg
Sorry RM, that was probably my fault... while most of you were in your bunks checking your eyelids for pinholes I had to put the ship through a few fast action evasive manoeuvres last night. As you know, the "SS Silver Stacker" never turns aside for anyone on the high seas, but when confronted by this nuclear-powered behemoth I decided there's probably no harm in taking an occasional break from tradition... (Besides, they looked slightly bigger than us.)
They were in a tearing hurry and probably going somewhere important. Probably off somewhere looking for some enriched uranium to refill their onboard nuclear reactor...
http://forums.silverstackers.com/uploads/910_tick_two.jpg
Well crew, we earned another green tick on the charts last night, after finally leaving the 50 day moving average several nautical miles astern. As you can see in the silver chart above the breakthrough looks quite solid.
Unfortunately though, before we break out the soda water, I must point out that last night's unopposed Friday night rise was clearly a manipulated (or planned) event, which indicates that another major price attack will probably occur early next week possibly pushing us back close to the 50DMA again. Sorry about that!
This outlook is confirmed by a bullish (well, mildly!) silver article in the WSJ today. It must really stick in their craw to even slightly praise silver! (And it's probably not the greatest thing to add to a budding journalist's resume in Wall Street!). Have the smelling salts handy if you care to read it.
("SS Silver Stacker" advises Reader Discretion for stackers below a 12-month stacking age; this article contains inaccurate language and ad-libbed themes)
http://online.wsj.com/article/SB10001424052970204301404577173091455214750.html?mod=googlenews_wsj
WSJ said:
NEW YORKSilver futures surged Friday to their highest level in six weeks, as hopes for steady demand for the precious metal replaced the economic gloom that dragged prices lower last month. (Blah blah...)
The interesting thing about the Gold chart now is the price is 'trapped' between two 'converging' moving averages. The 200DMA is providing strong support from below, while the 50DMA will probably offer some resistance from above. This suggests some volatility next week unless the 50DMA is taken out strongly early in the week. But with the silver 'set up' described above, I suspect gold might be attacked early in the week in order to push both metals back below their recently-taken moving averages. You'd think those JPM guys would one day grow weary of pushing the PM corks underwater and exclaiming "Look! They're not floating any more!" "Computer Games" indeed Southern Cross!
So, Silvertronic, if anything we might need to LOWER the mainsails this weekend! Tuesday evening will be the key night as always. But if we get a Tuesday night RISE next week I'll be making everyone Belgium Waffles up in Maggie's Nest in the morning.
Sigh! I must admit to feeling some ennui today because people like Silvertronic can do very cool piratical things with their names - like "Silv'aaargh'tronic". I quickly realised that we could also have M'aaargh'ggie, and Bl'aaargh'kSheep and South'aaargh'rn Cross, and even 'Aaargh'rrol 43...
... but T'aaargh'k is a rubbish name that would make a professional pirate positively blush.
Sigh!
Weekend Sprott Price: USD $32.13
. We orl be feastin mundy.
