This is it! The siege of Baghdad and PM's is over. Go to your favorite chart service, add slow stochastics & MACD. Then pull up the PPT's favorite, MMM. In turn, pull up PAAS & SIL. You will be irrationally exhuberent to find that MMM has a clear downside reversal today. PAAS & SIL have an equally clear upside reversal. The golds that I checked aren't as clear as the silver stock charts. The weak sister may lead the sector higher for once.
Just for review; I was reminded the other day as to why us fools didn't take our money at $370+. Remember, we had all been told that J.P Morgan would lose control of the PM derivatives at $358+, and then it was to the moon? Ah yes. Well now the commercials have covered the vast majority of their shorts, and are net long. The commercials are seldom wrong as they have the resources to force the issue if necessary.
Nothing goes straight up or straight down, but it is once again the longs turn. Remember, this war is still priced to perfection, Osama & So Damn Insane are still on the loose, & there are 1.4 billion Moslem fanatics out there who can't achieve nirvana without first killing all the Jews & Christians.
No one has brought up the fact that So Damn Insane was allowed to retain several billion in gold bullion that he stole from Kuwait. I suppose it's stashed along with the WMD?
Chin up, this reversal will be dramatic, get in early before the upside panic sets in. The fundamentals for the stock market are absolutely lousy.
It's time to drop a MOAB on this goofy idea that war creates prosperity. You take a couple hundred billion worth of capital goods to Iraq & blow it up, shred it, wear it out, and that makes you prosperous? Preposterous. You succeed by making things, not breaking things.