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yep, all short term but higher crude helped metals for only a short time and then down hard........ maybe we have to go back to $550/$9.50 one more time

go to stockcharts.com type in $silver and look on the right side and you will see break at $11 (now resistance) and a rebound to about 10.80 give or take....and a failure there (today) apply the fibo pull up factors from $9.50 if you're a true believer.......... the action today was...

go here for fibbo-jibbo fun http://quasimodos.com/cgi-bin/index.cgi

10.80 appears to be chart resistance, 11.04 gap resistance and there are some fibo numbers above that... only if your're a techie

a 9 handle appears to have stopped the bleeding.... 78 mm oz in the SLV and 102 in the warehouse...

50 bps might happen since Big Ben needs the markets to calm down before the fall election....the sooner they finish raising, the sooner they can start talking about cutting.... easy.....

lighter crude will always drive the WTI posted price....there are heavier grades of crude that have a tough time finding a buyer.......... for me, I'm short oil........until a hurricane starts to form remember also that Osama is still out there playing with matches

a short sale adds to open interest as is a contraction of open interest during a rally due to short covering

the only way to make a small fortune in futures is to start with a large one... just an opinion of course

yep, you're right, which is opposite than what the Fed. is doing by raising rates and doing weekly coupon passes.....

then debt for Dollar swap by FCBs postpones the day of reckoning which is sure to come....... it will be a spectacle for all of history since the imbalances are enormous...but the cracks in the system are forming.....

there is another massive trade whereby Japan and China cental banks print their currency by the wagon load and swap it for US dollars to keep their currency weak relative...... then they take the Dollars and purchase titanic amounts of US treasuries to pocket the yield....thereby pushing...

carry trade can go for anything where you borrow in say Japan at zero (near zero) and then dump the cash into metals, bonds, CDO's, emerging markets, US, anywhere where you think you can get a positive return (momentum markets) you pocket the performance spread, as long as your borrowing...

***thread hijack concluded**** gold correction not over until...asia blows out of remaining carry trade longs....or a financial lock up where Bernanke is forced to repeat that the Fed. "will be the lender of last resort"....

BOJ lending at zero %, it's not like this thing would have a bloodless ending..... I'm really suprised that long paper has held up thru this, not knowing what junk paper is doing or CDO's, hard asset players got shoved over the side........... it's not housing per se but what people have...

he should have let Japan raise short rates first.... let the air out of the carry trade before he tanked housing..... now we have global socialist central planning of financial markets and we have to live with the results

Bernanke must be saying "shyt, now what do I do?"

the '87 equity crash forced gold down due to margin player's underware turning brown.... seems as though we have a repeat.... I'll let asia blow it out and pick around at it....

a trader is born, saves $2K and promptly watches it vanish, and then returns to work on isle 15 at (fill in the store name) ..........

the great global unwind seems to be in full stride...... feels '87 ish