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Revenge of the Silver Spoons

Revenge of the Silver Spoons

by The MoleJanuary 26, 2009

UPDATE 9:46am EST: Silver is on fire this morning and there are no stains in sight:

I have mixed feelings about this H&S though – not sure why. It sure looks precious – maybe I should just shut up and take it. But let’s wait out that triangle breach in equities first – that attempt to breach the resistance line ended on a whimper. No surprise as the Zero signal was fairly flat. The bulls will have to muster up a few more legions to ram through this barricade. Could just be a an E wave throw-over… happens sometime.

Happy Chinese New Year to you Asian rats!

UPDATE 10:35am EST: Check this out:

The CPC has no business being here unless we just rallied by 500 points in the DOW or something along those lines.

UPDATE 11:00am EST: Yen just fell off the plate… again… definitely a big seller here – maybe the Japanese are putting a lid on their currency?

Let’s remember – our intrepid Asian friends do not enjoy a strong currency – Yen or Yuan (Renminbi). Strong currency is bad for their exports. Anyway, this is lining up to be a painful week – we got that FOMC meeting looming and until then we’ll see a lot of fake outs and thin tape monkey business.

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.