Market direction
Fed, to answer the second part of your question...
It's really hard to predict the market and metals going forward. At least for me..
It looks like Silver wants to hit 30-32, but we are also seeing some support on the dollar and a possible dollar rally.
I'd be cautions in the markets until this proves out.
I think the markets will either
1) Continue consolidation and have modest pullbacks; retesting 11200 area before continuing a breakout. This would form a cup and handle type pattern from April.
2) If tomorrow and the rest of the week is strong, it could continue a rally from here. But it looks like alot of weakness today, signaling at least some downside. Have to wait and see as I am curious.
3) If 11200 is broken, watch for more significant downside. It's hard to imagine the markets crashing with QE II in place; but that doesn't mean they won't.
I won't say which option I think is going to happen. With QE II I'm thinking Option 1, but I don't now.
-- I also got hit with some shorts, I was buying some PUTS on the market. You are correct. We had over a 20% rally in metals. If it wasn't for the fed games, we would have had a 20% crash in the stock price instead. In retrospect this was somewhat obvious once silver broke out 18. WE should have stopped shorting and got on the inflation bandwagon.
As for the moon, notice that we are at a new moon high, right at the same time as the dollar rebound and metals coming down. So I would watch it carefully;
Here's another good tip; The Ickimoku Clouds provide a VERY good indication of when a stock has momentum left and what it's downside targets are. If a stock is above the cloud, don't expect major downside; only corrections. When the Market and every stock breaks the cloud, like it did in 2008 all at the same time, THEN short cause its going to bleed from then on.
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