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"In a way, the worldview of the Party imposed itself most successfully on people incapable of understanding it. They could be made to accept the most flagrant violations of reality, because they never fully grasped the enormity of what was demanded of them, and were not sufficiently interested in public events to notice what was happening.
By lack of understanding they remained sane. They simply swallowed everything, and what they swallowed did them no harm, because it left no residue behind, just as a grain of corn will pass undigested through the body of a bird."
George Orwell (1984)
The US dollar is approaching some key support levels, and gold is pushing up towards a potential neckline on a big inverse H&S formation.
Silver is a juggernaut while the markets are climbing on Fed provided liquidity and the global carry trades.
So, we either correct soon, or Benny takes us to the next level of debasement.
It would be nice to see gold finally hit that 1455 level I called out so long ago before it had broken out.
Option expiration at the Comex on Monday the 28th as shown on the calendar below, although any serious bear raids are likely to be at the end of this trading week. They have not even sorted out the March deliveries yet in silver. It is hard to imagine them losing control of price, although some day they most likely will. Let's see how the metals fare, under the attack of Blythe Baba Yaga, the Silver Witch.
Big gains on thin volumes. Stocks are held by weak hands.
It could go higher, but I do not believe this is an investable market.
Musical chairs for the nimbly positioned is more like it perhaps.
Hard to tell where things will go when the Banks are pumping up.
The markets were firmly in the United States of Amnesia today, sloughing off all the bad news in Japan, the Middle East, and with sovereign defaults. But there was an 'edge' to the trade, with the wise guys keeping one hand on their wallet and a clear path to the door.
A weak chart yes, but a burial would likely be premature.
Currencies notoriously overshoot. A clean break of 71 and we'd be out of Kansas, Toto, and into some brave new world.
Still, if the buck wishes to gather itself together, it might well do so soon. Or better yet, the yen and euro must weaken, because the DX index is a primarily a mirror of their own relative positions.
Updates to this report are available here.
"Updated on March 21, 2011 21:20 (JST)(Japan Standard Time) nGy/h (nano- Grays per hour)Realtime radiation data collected via the System for Prediction of Environment Emergency Dose Information(SPEEDI) These Results are the maximum values of the space those rate distributions shown from local governments in the latest updated date and time.
Not surprisingly, Miyagi , Fukushima and Ishikawa are completely N/A, as every single reading is Under Survey, may be unavailable sensors because of Tsunami (or maybe censored?)."
Background radiation comes from many sources, including medical x-rays, radon and cosmic rays as the usual suspects. Radon is a decay product of the uranium series, and decays by emitting an alpha particle. The direct parent of Radon is Radium, which emits gamma and alpha particles. Radon gas has different levels of concentration in buildings and can vary considerably.
In the cases from around the world, in normal areas, the dose rates were less than 100 nano Grays per hour (0.01 milli rem).
Those in Japan who can take reliable radiation readings and report them to a central independent source can do so here.
