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Yellow Jacket Join Date: Nov 2011 Location: Waaay south
Posts: 3,370
Liked: 2046 times | Hard Core Defense at 35 I really want to see what happens after the election though. If Obama pulls off a squeaker, I expect gun sales, gold sales and silver sales to go through the roof. If Romney wins, I expect gold and silver to do well, but not as well as they would if Obutstain wins, and gun sales will fall.
__________________ All things being equal, the simplest answer is quite often the correct answer - Occam |
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Yellow Jacket Join Date: Oct 2011
Posts: 2,053
Liked: 925 times | The commercial (bullion banks) short position has been growing massively over the last few weeks. As Gene Arensberg explains in the video below, they either have to cover these shorts now or hope for a crash in silver. It seems they can't engineer the crash, so they're just trying to hold prices where they are whilst they are covering shorts. This happened before the breakout at $28, too. The COT data packages for the next 2 weeks are so should verify (or falsify) my theory: If the commericial short position shrunk while prices stayed flat, I'm right. If they increased their positions further, they held pms back from breaking out again with additional shorts. |
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PM Bug Supporter ![]() Join Date: Oct 2011 Location: SE USA
Posts: 1,275
Liked: 691 times | ancona, swissaustrian, All of their little games will fail. And it may not take too much longer. But, I have a history of BAD short-term timing. That's why I just BUY gold when I have some money come in. Hey! I just got a debt repayment from Peru! Any suggestions where I go spend the money, my friends? |
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Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,103
Liked: 2456 times | Yeah, the lid keeps getting screwed on tighter with every minor break in the seal. It's got to give eventually.
__________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug | |
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Yellow Jacket Join Date: Oct 2011
Posts: 2,053
Liked: 925 times | This is what short covering looks like: Quote :
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PM Bug Supporter ![]() Join Date: Oct 2011 Location: SE USA
Posts: 1,275
Liked: 691 times | @ ancona, swissaustrian, You guys sure called this one right! Bashed silver right hard... PAPER silver. @ PMBug The LAST thing I need in my life is to have to take care of a boat... "The two happiest days in a boat owner's life: the day you BUY your boat, and the the day you SELL it!" Last edited by DoChenRollingBearing; 10-05-2012 at 03:42 PM. Reason: Eek! Not a boat! |
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Big-eyed bug Join Date: Mar 2012
Posts: 318
Liked: 199 times | If you really want to know what it is like to own your own boat but don't have the time to find out, here is how you can - Stand in your shower fully clothed, turn on the cold water tap and then start stuffing money down the drain. I can't remember who it was that told me that, but from my boat ownership experience ... it's pretty close to the real thing. |
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Ground Beetle Join Date: Feb 2012 Location: Texan in Sweden
Posts: 549
Liked: 306 times | How many times was gold at 1776 last week? Seems like every time I looked a the spot price, it was 1776. Coincidence? Game on!
__________________ "The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." H. L. Mencken |
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Fly on the wall Join Date: Oct 2012 Location: Hudson Valley NY
Posts: 49
Liked: 11 times | I agree. the big boys at the top are manipulating the prices. once the fiat and defecite catches up with us they wont be able to hold the price down. silver will shoot up twice as fast as gold |
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