The market is higher today but listless - it would seem that central banks will continue to try to keep a lid on prices.  In the end this will make prices go even higher.  It wouldn't surprise me if a "plan" to save Europe gets put together over the weekend.  I am not in stocks but I think Gold and Silver and Stocks will tend to trade in tandem as they are a hedge against the inevitable money printing presses.  Next week will be interesting - we could go a lot higher if they have a plan and President Obama needs a plan if he wants to have a chance of being re-elected.

When you hear this and yet you know that Central Banks have also been the big buyers this year it all smells.  For good or bad I have changed my mind and even though my purchases today are off side I am sticking with AGQ.

I don't normally show prices I  pay but today is an important one.  I added AGQ at prices between 56.20  - 56.3

I have added to my long position in AGQ. If the market closes below this I will sell the entire position.  If it goes up I will hold.  Please read the link on the front page.  At some point ALL the money invested in Wall Street - including mine - is at risk.  That is why your major investments should be close to home and linked to the local economy.  I buy and sell on the markets in the knowledge that at some point the music will stop and there will not be enough chairs for everyone to sit on.  The trick is to withdraw what you make

Here are two links to traders who are usually fairly good.  You will see both are uncertain of the next move:-
http://pretzelcharts.blogspot.com/
http://iamafuturestrader.blogspot.com/

Banking in Europe has come to a halt.  One of two things happens from here.  The ECB prints money or there is a total collapse that will also affect us.  Stocks in the US are set to make a large move in either direction.  If the Fed or Europe can print we go up/  If they don't we go down.  I am still long gold and silver and they did well yesterday.  Today everything is starting off weak - my feeling is that they will print but it may be a rough ride first. http://www.ritholtz.com/blog/2011/12/european-banks-remain-reluctant-to-lend-to-one-another/

If you look at the COT Report it showns continued liquidation in both the Gold and Silver markets - no doubt partially due to MF Global  ( trading volume in Silver almost halved last month -  because of MF Global stealing customer funds ) but then look at the US Dollar COT and you will see that speculators added significantly to their long dollar positions while commercial traders ( who tend to know what they are doing ) went short.  This suggests that if over the weekend Europe starts to get its act together we could see a very weak dollar next week. http://news.goldseek.com/COT/1322858148.php

The market has had every chance to break down and hasn't .. so I have taken a quick profit in FAZ and am going home basically long AGQ  and a little UGL.  I am out of YCS.