[youtube:http://www.youtube.com/watch?v=GTQnarzmTOc 450 300]
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Apparently, crack U.S. Special Forces stumbled on JP Morgan’s “lost tonnes” of silver bars whilst cashing in our un-paid receivable with now soundly-dead Osama Bin Hydin’. This seems the only plausible explanation of the coincident 10% drop in the price of silver last night right as the news of Osama’s involuntary cranial ventilation was breaking.
Kudo’s to President Barack, by the way, who appears to have begun smoking some of that Bushitlerian war-monger crack and can’t seem to get enough of the rock. In other stunning news, the vicious San Franciscite anti-war harridans of Code Pink have summarily renamed themselves “Code Ah, It’s Okay,” while long respected gold star mother media queen Cindy Sheehan has unveiled a new website in honor of her President’s recent actions called “If-It’s-Brown-Shoot-It-Down.com.”
Whether or not PETA President Ingrid Newkirk’s newly sponsored Western Kentucky Squirrel Hunt/Democrat Fund Raiser and the Sierra Club’s latest bumper sticker “Yellowstone is for Coal Mining” are further evidence of a sea change in liberal sentiment has yet to be determined.
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Despite silver’s no Chinaman low volume sell-off last night, it appears there’s little changed in the direction of the dollar. What’s more, it looks like gold isn’t even taking the temporary detour that earl, the CRB and silver took last night upon news of Osama’s fatal lobotomy.
Now I’ve told you about silver being waaaay over it’s 200-day EMA, and that’s why we were switching our focus to gold for now. This sell-off, however, may give you an opportunity to play a couple of broken silver miners. You know I like SLW and EXK the best (both of whom look to be off at least 5% in pre-market), but I also think AG is “catchable” here, (I still have low bids in on that one) and even AGQ may be a play, if an extremely short term one. Only mess with that last if you are determined to watch it, because it should be swinging big here this week. Right now it’s down over 10% in the pre-market, which is too much.
On the golds, I continue to like AAU, RGLD and XG. Also, watch IVN, which has call sellers betting against it, but which could short squozen at any time.
On another note, it’s Derby Week, so I will be trying to talk a little bit about the ponies for the fans. Do recognize, however, that this is one of my busiest weeks, so let’s keep the comment section hopping and I’ll try to reply from the Crack wherever I may be.
Best to you all, and Happy Osama is Deceased Day!
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