I Think I Can, I Think I Can

I Think I Can, I Think I Can

by Turd Ferguson

In preparation for this day, I think we all should take two minutes to watch this:

Isn’t YouTube great. I absolutely love it. Hands down the best thing we’ve created for the internet, so far. Well, YouTube and online football betting are pretty close…

Anyway, all eyes are on crude and silver this morning. Crude has blown through $104 and now looks to make a run at the highs near $107. As expected, it is providing support for the PMs, too, though both are still struggling to overcome the Forces of Evil at $36+ and $1430.

Do you recall this chart from last Saturday?

Looks like things are proceeding as planned by yours truly.
Now look at this 3-hour chart that I just printed:

$36.75 is our major hurdle. IF there is an entity that is intent on keeping silver below $36, you can bet your sweet batooty that the entity does NOT want to see silver trade through $36.75. There are, most assuredly, a proverbial shitload of buy stops above that level and any significant breach will trigger them. Silver will catapult through $37 and on toward $37.25 faster than Blythe can smoke a Camel Light.

So, watch the action closely today. IF the forces of evil are successful, they could drive silver back toward $36. If not, its off to the races once again. On a happy note, this morning’s 8:00 am bloodletting has only been able to siphon off 18 cents, so far. That’s a good sign. Let’s see if we can get the ball rolling UP as we move toward 10:00 EST.

Turd watching and waiting. Out.

p.s. I now have 200+ followers on Twitter. If you’d like to receive a tweet every time I make a new post, just sign up here: http://twitter.com/.
Its listed as “TFMetals”.

And I forgot to add this, too. An interesting story on EXK.

This entry was posted in Silver, Technical Analysis. Bookmark the permalink.

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