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Gold's Best Day In 11 Months As Stocks Close Red - Only 8 Hours To Wait 'Til Tuesday Though
All major US cash equity indices closed an odd shade of 'green' today which some have called 'red' - though only marginally and Treasuries ended the day practically unchanged (with 10Y +1bps). But the real action took place away from these two asset-classes. Precious metals were monkey-hammered at their open overnight but staged a miraculous recovery leaving gold with its best gain since June 2012 (didn't hear too much about that on TV?). Credit markets notably under-performed - never managing to get into the green on the day. VIX rose over 0.5 vols to close back above 13%. On the bright side, only a few more hours until Tuesday...
Gold and Silver were making the headlines early on after yet another seeming coordinated smackdown as markets opened late last night.
Mainstream media quickly jumped on the disaster. Few hung around to the close to notice the massive rally back in both. Gold closes today with its best day's gains since June 2012 and Silver up over 11% off its lows...
USDJPY crashed down to 102 as precious metals were monkey hammered overnight - boucned all the way back, and then faded all day long (JPY strength) to close near the lows of the day just above 102.00. This is JPY's best gain in a month... up around 1% against the USD (with the USD having its worst day in a month)...
Credit markets remain severley unimpressed with no bounce at all today...
VIX still ain't buying it...
Charts: Bloomberg and Capital Context
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New-hawk Bullard on tomorrow to disrupt the turnaround Tuesday meme. Could mean ES only gets to 1680 by EOD. LOL.
M U S T
R E A C H
1 Thousdand
7 Seven
0 Hund
0 Red
I'm going to remain objective about both the gold and stock markets. Sure, gold had a good day, and sure, stocks closed red (for once). But the trend in gold is down, so I'm a gold bear, and the trend in stocks is up, so I'm an S&P long. Simple as that. Trading doesn't have to be difficult. Most of the time, profitable trading is simply a matter of following the chart and analyzing the opinions of the experts. As a cool-headed trader, I find it amusing to watch ZH day trading lemmings tear their hair out trying to trade the 'fundamentals'.
You're not a gold "bear", you're gold "ignorant". Enjoy your pair trade.....you and Stolper.
Ignorance is continuing to ignore a chart when it is making higher highs or lower lows. The market doesn't care about your stories about 'cartels' or 'hyperinflation' or 'algos'. Markets follow trends, and the gold market will continue to fall, in line with its trading pattern. Trading is easy - it's only goldbugz and cry-baby stock shorts that find it difficult.
I guess you can go broke like the rest of the "market", MDB. All in good time, my friend. Enjoy the "high life" while you can.
Simply masterful how MDB sucks in yet another unwilling soul... bravo
Gold up 400% over the last decade, and the trend is down, sure thing. Classic case of a permafried hopium addict.
If someone uses the term goldbug on ZH ignore immediately. Its an ad hominem attack from a paperbug. The worst kind of ad hominem!
11 hours to wait until Tuesday?
Paper is still trading: http://www.pmbull.com/gold-price/
And physical dealers are still open too!
Glad I was watching the open last night. Although, I didn't parke of the gold. It was silver for me last night.
"Enjoy the "high life" while you can."
Well said. All the myopic investors are partying like this can't end; and many consciously see no issue with leaving the party's costs to their children and grandchildren. The well meaning, yet ignorant myopic investors, like my "rich" uncle, will probably accept whatever our leaders decide on and will adapt to less... once this PONZI can no longer be sustained. The MDB folks of the world will most likely kill themselves when they realize the party's over and they'll actually have to WORK for their next meal.
Tyler, give it up already. Your MDB neo-RobotTrader shtick is ludicrously transparent, and getting very stale.
No, it's good to challenge the minds of PM bulls and stock bears, specially when the market does not comply.
yes, it is transparent but no, he should go on spouting the anti-thesis.
LOL.
the market follows the bernanke...
fixed it.
Markets do indeed follow trends, even when those trends are artificial and meant to exploit and deceive. People generally follow trends like lemmings. and live in fear of finding themselves not doing what 'everyone else' is doing even if it means sailing off a cliff - but all happy together. Traders follow trends because they think of themselves as smart guys, always believing that they can jump quickly when the trend reverses - or even see the reversal coming.
You follow your trends, I'll follow mine. The difference is that mine is 5000 years old, and yours is yesterday.
I don't trade...
very sound advise that
MDB,
What a crock of hooey!!!! Trading in any market today is a crap shoot at best.
If you're sitting at the poker table and you don't know who the patsy is, it's you...
DaddyO
MDB, cool-headed trader that you are, in your opinion how does the trend in gold compare to the trend in GERHUI*? Thanks.
*Garage Equivalent Ratio of Herbalife Unsold Inventory
That's a bold "buy high" stategy you employ. All you have to do now is sell low and you can really stick it to us!
"analyzing the opinions of experts"
I forget who said it: "beware the guru"
You will never make a nickle following the opinion of "the experts". You need to be your own expert.....
Wow, that's so good I'm starting to think one of the Tylers might be MDB.
If its not a Tyler its definitely a masochist.
Please...continue! We're definitely interested in your thoughts about trading. Your opinions are fascinating!
or this may be the reversal day for PM's...
http://zysites.com/silververitas/
just wait for a few cycle again, its not yet finished
CYCLES? U mean the theory of economic cycles? gold secular bull run is just about to move into stage 3...that's the cycle i recommend you to watch...
Climb baby climb.
So Sinclair was only off by a few days.
Is it only 11 months? Feels a lot longer that that....
(go on Knukles, if that ain't a straight line I'm going back to stand up!)
Another 32,000 ounces gold left Comex on Friday ; )
http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls
Jim "We will enver see $1600 again" Sinclair is a useless idiot.
" legendary trader Jim Sinclair, who emphatically stated, “Gold is about to take out $1,600.” Sinclair then boldly predicted, “We may never see that $1,600 level ever again.” If that prediction from Sinclair turns out to be true it will go down as one of his greatest calls in history."
Nope, not one of the greatest calls, just another shot in the dark by a moron.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/14_On...
http://www.businessinsider.com/the-end-is-not-near-it-is-here-and-now--g...
That said, today was very interesting for a number of reasons, could be very good week for gold.
But as far as Sinclair, even a broken clock...how many bottoms has he called now? How do these morons make entire careers out of ONE prediction turning out to be correct??
Ummm...yeah...that is pretty simple. They own the real stuff...their predictions about price points and pivot points not withstanding. So shuffle along there, tick chaser.
Not to worry, Cdad, James_Cole is just one of the most recent in a very long line of ZH gold bashers and anti-PM trolls, who will surely disappear back into the woodwork whence all vermin spring as soon as the prices of the precious metals resume their relentless upward price climb, as guaranteed by the ongoing and accelerating worldwide debasement of fiat currencies.
Oh...I understand the whole "debunker class." Just wanted to point it out today...as if you could not see the reversal today of a two year trend...and you choose this day to post your debunker thoughts...well...you are a special class of stupid.
Just like our long lost buddy, P U D.
I kinda miss all his talk about "putting the whip to the kids" and "the ravaging of the landscape."
LOL!
Yeah, I had already forgotten about all those millions of African slave children, toiling away up to their chins in the mercury-poisoned mud under the lash of their diabolical gold-mining taskmasters, all to mine a "worthless" metal while completely destroying the environment in the most ecologically destructive process known to man.
Yes, fractional reserve banking, with fiat currency, and legal usury, is so... Modern. And there's no hidden costs to it, like for e.g. the rich stealing from the poor via a mechanism practically invisible to the average person. Oh wait...
Nahhhh. Jim is a good guy but apparently hamstrung (like the rest of us) by the astonishing levels of manipulation.
I know of no one who can make accurate calls based on technicals with this type of crap going on.
Overall, Sinclair has been an excellent source of information on the ebb and flow of the gold market and what is happening behind the scenes.
He has hung is ass on the line to share information and been one of the loudest proponents at getting your long-term stock holdings out of street registration.
There are many on this board who will have him to thank in part, for their fiscal survival.
Nahhhh. Jim is a good guy but apparently hamstrung (like the rest of us) by the astonishing levels of manipulation.
Perma sell-side guy is useful how? When indicators in the market actually change (like bullish today) it isn't treated to him any differently then when things changed to bearish. Always the same narrative, up or down. Don't get how that is any benefit to investors.
Overall, Sinclair has been an excellent source of information on the ebb and flow of the gold market and what is happening behind the scenes.
How so? How many times has he said it would be a good idea to hold purchases, that big downturns are around the corner etc.?
Who cares what Jim Sinclair has to say? Neither him or any other market "guru" impact my buying or selling habits, and anyone who does latch on to someone else for advice deserves to get burned for being ignorant and not learning up on their own.
At least David Morgan learned from his mistakes and got away from trying to predict irrational markets any longer.
These guys don't speak on behalf of anyone but themselves. Demonize them if you want. It's your time to waste.
I don't think ANYONE has seen the kind of moves gold (and silver) has made in the last couple weeks. It was a 7 sigma event.
If you predicted it, you would have been called crazy, or an insider.
But if you had said already that gold markets are manipulated, you wouldn't have been surprised at all...
>> “We may never see that $1,600 level ever again.”
You really don't know the difference between "may never" and "will never"? Not the brightest troll on the group.
This is f'd up
I love the smell of green smoke on Tuesdays ... can't wait!
<-- The next 'recession' is arranged to drag this out to 2016.
<-- The next 'recession' will be the last one.
The history books will state the Greatest Depression started in 2001.
And ended in 2009 but the signs of recovery took 200 years to appear because it was so bad.
That would be like a fairy tale if the bottom of this thing was only as bad as 2009. If free markets don't take hold after fiat collapse, the central planners just may hold their grip for 200 years. If free markets and free banking are allowed to work, though, we may see a recovery in only a couple years and prosperity that is almost unimagineable to follow. Don't get me wrong though, the bottom will be very very ugly.
Great! It's like we are having a whole 'nother' trading session after the close today...just posting up all the dark pool stuff that went on during the regular session that you didn't see. But don't worry, I'm sure it's all good, buy buy buy kind of stuff 'cause tomorrow is Tuesday, and everyone knows that markets rally on Tuesdays.
Between this and Maria Bartiromo's razor sharp analysis of markets = [buy on dip mentality, corp buy backs is the plan, where else can money go?], tomorrow is sure to be great.
Nice contrived market, Wall Street! Way to go Bernanke, maker of wastelands! Good luck getting real capital back into this stupefyingly moronic electronic pachinko machine.
[and in real non sarc terminology, it truly is time to simply buy every last ounce of silver you can get your mitts on...while simultaneously telling our supreme central planner in chief to copulate off! Oh...and Maria...honestly...you have clearly run out of intellectual curiosity...so please just retire.]
The golden days are here to stay.
“Print is the sharpest and strongest weapon of our party”
Iósif Stalin Bernanke
Looks like the last shit didn't stain.
Nobody sings about silver and gold better than Keef and Ronnie!
http://www.youtube.com/watch?v=RpqlmYswLM4&feature=youtu.be
A DOWn day just won't do. All-time highs tomorrow with a PM smack-down.
Agree. They want you to buy moar paperz, so they can smack it down, again.
Stack the smack? Na, smack the stack.
Nice to see that vol. on silver--it might just be a still usable hedge in the game against the Fed.
YAY! MOAR FREE MONIES COMIN! YAYYYY!!!
We frequently complain about the sudden 'spike down' associated gold market price drops. The usual interpretation is that a major entity has short sold in large quantity to drop the price through support levels and further drop price. These are clearly not the acts of some one trying to profit by selling gold they own. If it were they would sell slowly over time to ensure the best price.
Today we saw the reverse...a 'spike up' at noon. It was a $25 price increase over a very short time period.
Can anyone explain how an entity can profit by this type of action?
Would not a rational buyer buy slowly over time so as not to spike the price?
Any suggestions as to who might do such a thing?
Buying continued after that but it had a more normal appearing graph. I understand the strategy of massive short selling but I do not understand the reverse.
Thanks for any help here.
Someone or some entity with deep pockets and a reason to panic?
DW
Who or what get paniced about getting paper gold?
If they are at the level of AP (Authorized Participant) they can get physical without bidding up the market.
Who or what gains by SPIKING the gold price??
One more thing...GLD inventories dropped another 7 tons today. Up day Down day...does not matter, since January GLD has dropped from inventory 1350 to 1031 tons. Explain that too....and I'm serious...please explain that...the sudden spike and the persistent drop in inventory.
The way I see it, Vegas, is that the so-called market makers are also the major players, and they write the scrip. They know when the spikes will come, and which way the price spikes, and they spook the smaller players by hitting sell-side or buy side stops. They keep the ride as scary and bumpy as possible, to avoid giving anyone the chance to 'trade' on 'fundamentals'. It is rigged in the worst way possible so that the major players always win on the positions they trade, and the positions they carry on a long-term basis are never a problem because they are 'systemically' vital for all of us. Stop looking at it like its a market and try looking at it like a casino set up by some long-term hoods in jail.
Edit: OK I meant to type 'script' but I will leave in scrip, and add scrap, because they write them too...
I think there were a lot of bids at $1370 and no ask below $1390. The 'mystery seller' of Sunday suddenly didn't think $1340-$1350 was such a great price any more. Hmmm...
Either they don't want to give gold away to the peasants too cheap, or make it too appealing. Although, now that everyone has been trained to trade momo...
http://en.wikipedia.org/wiki/Short_(finance)
"The speculator may close the position by buying back the shares (called covering). If the price has dropped, he makes a profit. If the stock advanced, he takes a loss."
"Days to Cover (DTC) is a numerical term that describes the relationship between the amount of shares in a given equity that have been legally short sold and the number of days of typical trading that it would require to 'cover' all legal short positions outstanding. For example, if there are ten million shares of XYZ Inc. that are currently legally short sold and the average daily volume of XYZ shares traded each day is one million, it would require ten days of trading for all legal short positions to be covered (10 million / 1 million)."
LMGIFY Short Covering and Short Squeeze
You're right, although I can think of a reason for both "shock and awe" buying and selling: namely, to reap even greater rewards in a position in mining stocks. For the most part, hedge funds have been shorting mining stocks. Some of them are also long gold--true hedging. Others, however, appear to be shorting gold to benefit their short positions in mining stocks. I say this because I have witnessed many days when the metals were performing well but the mining stocks just sat there, as if someone was shorting them. Almost invariably, the metals got hammered soon afterwards. Either the mining stocks had remarkable precognition or someone knew what was coming. With Soros having recently bought a ton of call options on GDXJ, and with him being big enough to move the gold market up, these shorts could soon be experiencing an atomic wedgie.
Well...the problem with your analysis...which I would accept in normal times...is...THIN TAPE. As such, all it takes is one big fund buying this or that to create the kind of insanity we saw today in silver.
In fact, THIN TAPE is the reason for all manner and sort of insanity we are witnessing in the pachinko machine....here in the bottom of the 9th inning...bases loaded with idiots...and a kid wearing a hockey helmet at the plate.
Boy am I glad I resisted the mining stocks Jan 1 to April 16...
Today felt like big time short covering with stops being hit.
There are a lot of shorts with tight stops being cleaned out. If this continues over the next couple of days it will be very interesting to see what open interest does.
A very, very faint knock at the door this afternoon, but nobody answered.
In the past, this would have been because there was too much revelry to detect the visitor; but today, for the first time, they all "shhsh'ed" each other and listened carefully. Could be somebody important, and they have a feeling he's not going away completely.
Still, no real worries, and when they peek through the keyhole he's gone. Sudden giggles burst forth to cover a vague disquiet, a suspicion they're being watched, but before long they carry on as before. Still, if one looks closely, it's possible to detect the first furrows of care being engraved across their smooth, childlike foreheads . . .
Silver?
What silver?
Silver at 418/oz
http://www.ebay.com/itm/1-x-1-GRAM-999-Fine-Pure-SOLID-SILVER-BULLION-BAR-ALL-SEEING-EYE-15X10X1MM/321128508121?_trksid=p2047675.m1850&_trkparms=aid%3D222002%26algo%3DSIC.FIT%26ao%3D1%26asc%3D11%26meid%3D7789578072382277716%26pid%3D100011%26prg%3D1005%26rk%3D5%26sd%3D230983203924%26
and thats cheap!
Outlier. Same seller sold same thing repeatedly for under $3 each. Don't cherry-pick sales.
Well, We are getting close to what I thought I'd see.
About 5 years ago, I looked forward to $100 swings in Au and $5 swings in Ag.
$60 for Au, and $2 for Ag is getting there
Mark my words, you will see sub $20 silver sooner than you think.
Nope, disagree. The bottom is in. May not be smooth sailing in these rough seas but you will NOT see Silver below 20. And that is my call!
Yep...if you chased today, you may well be tested in the next session or two...but that reversal was unmistakable.
Lol, not a dig at you Cdad but if I had an ASE for every time I have heard "that reversal was unmistakeable" I would need a vault for them all.
Today's events were very interesting and signals a rip in pms. BUT... below 20 after rally is definitely possible.
Yeah, yeah, yeah, how fucking predictable you are James. Just like the incessant PM-negative drumbeat of Jon Nadler for six years on Kitco: "The outlook remains bearish for gold for the foreseeable future." For Nadler (and you), it was ALWAYS a good day to sell, and NEVER a good day to buy.
I never said that. If I was giving buy or sell advice (which I'm not) I would say this week looks potentially good to buy, there was a major shift in the market today - still trying to go through it. I don't think buy right now, but watch the market tomorrow and consider a buy. Not soliciting buying advice, just saying IF I was...
James, your consistent and desperate backtracking, diversionary drivel and jumping around when called out here in your anti-gold propaganda reminds me of a spider trapped on a hotplate, or an ant under a magnifying glass in the sun.
You just don't understand what I'm saying. Indicators from today look good to me (probably see an initial pullback tomorrow though) but later this year I still bet you'll see silver (for instance) slide below 20$.
Oh, I think we understand you, "James", just fine.
For fuck's sake, give it up already troll. Your anti-PM campaign here is not only irritating, but laughable and pointless at the same time. Please follow your soulmate Nadler into well-deserved obscurity and infamy.
For fuck's sake, give it up already troll. Your anti-PM campaign here is not only irritating, but laughable and pointless at the same time.
I'm not 'anti-PM,' I'm saying right now there were a lot of positive shorter-term indicators today IMO. Other people disagree on the indicators.
Anyway, as far as trolls go, you say the same thing every day no matter what happens. When gold was at 1750$ and I outlined why I thought it was going to move down you went on and on about me being a liar.
Now it's at 1395$ and I'm saying there's a good chance for a bump up from here and I'm again a lying troll lol
akak, maybe troll isn't the right word for you actually, idiot would fit better.
No need to make such a long comment, James --- remember, you are being paid per (gold-bashing) post, not by the word.
Was it only six years?
Yes, actually it was --- and not even a full six years at that.
I guess time drags slowly when you are being beaten daily with insulting half-truths and outright lies.
Certainly agree in paper silver but not in real silver! The derivatives casino based on bankers "trust" without supervision is the greatest invention ever made on this planet.
What's that little symbol in front of the "20"? I don't recognize it. I count my silver is ounces--an ounce is an ounce is an ounce...
You mean paper silver of course?
how fitting would it be that we have been aboit every single tuesday this year and we wipe out all of or most of the gains with a crash on a tuesday?
would serve all the bankers right
As long as AU stays above $600 and AG stays above $12.80, I'm in the green. Which I could only say very recently about my stocks-based IRA.
But did the Trannies get Monkey-Hammered today? Whenever I read that on ZH I get a funny feeling in my toes.
Here comes Turbo Tuesday. Someone on here called it that and that is the best name for POMO Tuesday. Also, that was one hell of a reversal in the miners as well. Bought GDX puts on Friday, sold at a small loss this morning, then bought NEM calls and sold for a nice profit. Now I'm back in. We'll see what happens from here...
Will a hammer fall on GLD and SLV tomorrow? Anyone?
Nope. Everyone is already short.
Anyone else besides me load up on silver last night at 8p eastern when japan was puking?
I sure hope the delivery truck makes it to my house and i do NOT have a boating accident anytime soon.
AG/AU ratio is 60:1...60!!!
crazy
OUTSIDE REVERSAL DAY IN GOLD bitaaches! (Gld actually) Trend change is in the offing!
I am actuall thinking of purchasing a little silver...as much as I have loved having silver be my bitch on the sell side for the last two+ years. Of course the ass wopping in the gold to silver arguement continues in gold's favor. The G/S ratio hit an incredible 64 1/2 overnight. Just a few short months ago it was at 53.
Nobody wants any gold. It just stockpiles and all anybody ever does is look at it as if it isn't there. I can't think of anybody I know who wants to own any gold in any form, jewelry, coins, watches, what not, I never see it at all. You would think that you would know somebody who has or at least had some gold, but I have never seen anybody who has ever had any gold, not even Yukon Jack or Sam McCord.
It's the stupidest metal known to the universe. Can't figure out why anybody would want any gold at all.
http://geology.com/minerals/gold/uses-of-gold.shtml
I love my gold bracelet... Too bad I lost it in a boating accident.
you don,t really need a boating accident for a bracelet, how fucking stupid is that.
Na man, I lost other things, too...
I thought the squeeze was coming Friday with options expiry.
http://www.zerohedge.com/news/2013-05-06/most-crowded-trades#comment-form
This is going to be a fun week!
Spot gold completes wave 3 down - wave 4 up is next move.
http://bullandbearmash.com/chart/spot-gold-daily-completes-wave-3-wave-4/
Wave 4 is likely to move sideways and take time.
You are still learning the ZH culture. But for the love of God, don't discredit yourself before you understand ZH's community.
On a day when money losing Real Goods Solar soared by 70%, despite possibly having no cash left and a big unpayable debt in 30 days, a stock like Harmony Gold traded for a market cap of $1.5 billion despite having gold reserves of 50 million ounces, worth $70 billion at todays prices. But solar is a government subsidized darling and no one would deride someone who invested in it as a "solar bug".
It's terribly generous of some folks to waste time on these clowns! I know it is appropriate to get an alternative opinion especially after all of this manipulation that is ongoing. For the life of me i am unable to purchase Any of my favoured 5kilo silver bars from the oldest and leading bullion sellers for the past few months. As a good customer they have promised to contact me when they become available. This is all i need to know.
WTFUD, "this is all I need to know" I went to Goldshark last night to see who had monster box inventory ready to deliver, out of 8/ zero had inventory. You are correct, it's all I need to know
Golden Eagle Coins in Laurel MD \. Last check they had 5 boxes in stock.
Cranky Gold Bugs may have a medical excuse for their behavior! Here is an Irish Poem I wrote to explain their constant up and down mood swings, and highly labile condition:
Dotty Daze
A Gold Bug sought help for his "STRESS."
His Therapist said, "P. M. S."
He replied, "That can't be,
I'm a HE, not a SHE!"
"Precious Metal Syndrome, nonetheless."
Squeeky Fromm, Girl Reporter
Squiggy From said:
We already knew that.
The ones who are stressed are not gold bugs, they are traders aka paper bugs. Sad little creatures who cannot be helped.
you know what is so scary about this years market?
out of the few days we have been red this year, correct me if i am wrong, but i believe only 2 were actually real red days, meaning real losses, not like down 10 on the dow and considered red.
those 2 days i can recall were the italian elections and the day of the boston marathon.
every other day has been green or flat. mind u its fucking may 20th, not janurary 25th.
this is scary, and the data just continues to get worse. how this can keep going on is beyond me
It will be like this until the end, anyone who publicly expresses their incredulity at these events will be targeted and framed as the one/s propagating and perpetuating the problems.
The actors historically who have asserted their will to effect positive societal change have been captured by ignorance and sloth, an entire generation that applauds their own demise, birthed by one that did the same.
by the time they realize they were just useful idiots who will be disposed of, they will even then turn their rage not on their true oppressors, but instead on their neighbors.
The culture i see has no capability to even know what is wrong.
I was informed the other day that in Europe, they got hour long lunch breaks.
I replied that not every where in Europe is the same, the person actually tried to argue with me, i thought i was going insane.
Just a thought...
Up until last night, major smashes rolled over the time zones or showed up GMT and EST, particularly.
Some entity needed lower prices fast, and some entity benefited fast...before the LBMA opened in London. It's a sign of panic and desperation, imo. A harbinger of another bout of biggest banks in biggest trouble, again?
Silver sister is the poor man's gold, and essential to modern electronics and ... warfare.
Anyhooo, must take a refresher course on boating skills soon....;-) G'luck Zhers.
Exactly, the fact that silver is used in Tomahawk missiles doesn't please me, thats not something I particularly support, but I recognize it is an important component of the missile (and hence, silver's military industrial demand), one that can't simply be substituted, due to the price rising 50-100%. An one missile reportedly has between 10 - 15 lbs of silver in it... And when it goes BOOM...
Today's outside reversal bar for gold (confirmed by silver) may give some pause to the bears, especially when bearish sentiment is pervasive among investors and speculators.
However, it is too early to call a bottom and start partying, as the primary and secondary trend remains bearish as explained here:
http://www.dowtheoryinvestment.com/2013/05/dow-theory-update-for-may-20-...
For those who are into charts, there are a few interesting ones here with commentary:
http://www.kitco.com/ind/Maund/2013-05-20-Gold-Market-Update.html
What's going to happen when Obamacare kicks in on January 1, 2014? It is said company paid health benefits are going to skyrocket next year, and could push many into the 'Cadillac Plan' territory, which translates into a 40% excise tax. The damned union promised its members they'd be exempt if we voted for Obama. At least I didn't get audited for not voting for him, yet.
http://www.washingtontimes.com/news/2013/may/14/health-premiums-could-hi...
New post on Mining Muppet re: Junior Miner picks and prices, plus summary news: http://miningmuppet.blogspot.com/2013/05/muppet-miner-positioning-and-up...
So now, it's 11pm est and the chinamen take it down and the street took it up??? Cats will sleep with dogs and Jesus is a comin', I'd suppose?!?!