A Couple Quick Charts

As we watch the PMs roll over again this evening, I thought I should give you some updated charts for the overnight.

First, here’s a daily silver. Note that we have clung to the primary trendline for almost 8 months now.

OK, now here’s a much shorter chart. This is a 30-minute. Note that we are at a level where we could possibly find some strong support. If support fails, however, we could quickly fall toward last night’s lows.

Lastly, I’d like to thank all of you who so politely pointed out to me that the Comex has until Thursday to scrounge up all the silver they need for March delivery. (That Hendrick’s is really some fine-tasting but nasty stuff. Been brain-farting all day. Scotch used to do that to me, too.) At any rate, as we approach the end of the month, you can be certain that volatility will remain. To that end, please take a few minutes to read this very informative article I found today. Silver leasing is the real money maker for The Cartel but its something that very few (including me), outside of the inner circles, really understand. This article will help. It will also provide you with a word of caution as we approach the end of the month. Sacred cows are not often slaughtered so we need to watch this situation very closely.
http://www.minyanville.com/investing/articles/silver-silver-price-comex-comex-account/3/28/2011/id/33607

Keep an eye on things overnight. Tomorrow will be interesting. TF

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