Updated Chart

Its late and I’m tired but duty calls. I just had to give you this chart.

This silver chart couldn’t look much better. All the things we look for in a bottom including a double-bottom at an obvious support line. All that’s left is to break through the first rebound and make a higher high. That occurs with a move through 40.91.
Dipshit Turd sold a May 40 call yesterday and bought a June 110 crude and a June gold 1460. Both new calls should make me money but, right now, I sure wish I had my May 40 back. I still own May 41s and May 43s but I wish I had more.
4-13pmsilv2.jpg

I felt I couldn’t just give all the overnight readers this chart by itself, so here’s some fun reading for you.

First, here a followup to the article from Atlantic Capital that I featured about two weeks ago. It follows along on the current thought here that April we be a lot like February.
http://www.minyanville.com/businessmarkets/articles/silver-silver-delivery-comex-silver-futures/4/11/2011/id/33883

Next, the latest GFMS gold survey was interesting and merits your attention.
http://www.commodityonline.com/news/GFMS-sticks-to-$1600-Gold-for-2011-further-growth-seen-in-investment-demand-38157-3-1.html

Lastly, one of my favorite writers is Mark Steyn. He weighs in on the practical reasons why there was an absence of looting and mayhem in Japan following the recent natural disasters. Great stuff.
http://www.steynonline.com/content/view/3865/26

OK, that’s it. Turd nite nite. Watch 40.91 on the May contract. I have a last of 40.84 so we’re getting awfully close. See you tomorrow. TF

http://tfmetalsreport.blogspot.com/2011/04/updated-chart.html

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