The 300 Club

Yesterday I posted that this week would be a test of the EE's power, and it appears that they still have plenty of fire power left to knock the crap out of the PM's. Knowing that we have not only options expiry on Thursday for silver, and Monday for gold, we also have the Jackson Hole meeting; Almost without exception, when these high powered meetings occur, you get a smashdown in the PM's. I think they are about to announce something big such as more monetary easing in some form.

Why is the DOW up almost 300 points as I write? Why is oil up the dollar down and PM's down at the same time, when the fundamentals say the reverse should be happening. Quantitive easing, means more fiat, means prices go up, especially the PM's, but noooooo, they got to make their worthless fiat look good so down goes the metals just in time for their fiat easing announcement.

Just look at these incredible volumes in the Globex that were needed to take down the metals on this last leg down. You have more volume in the Globex than you do during the regular Comex hours. Is this insane or what? Who in hell has the power to dump this many contracts in the after hours market? Maybe they are already selling the gold they stole from Libya.

Well, we are not out of the woods until all this short term options expiry and fat cat meetings are over. It takes incredible balls to try and predict the direction in markets of any kind in this incredibly manipulated unpredictable climate. Kudos to our brave Turd. Only insiders at the FED and JP Morgan have any clue where things are going in the short term. But we have observed their games for so long we do get some clues as to when they are going to raid, we just don't know how much.