“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)


"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat


Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput


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Friday, December 7, 2012

Silver still Mirroring the CCI

Silver continues to mirror the CCI with traders unsure of what direction to take things next.



7 comments:

  1. Dan,

    So... for us "silverbugs", is the answer to the question on so many of our minds (that question being -- when will we see the price of silver explode to the upside), simply, when the velocity of money increases, i.e. when all the e-dollars the Fed has been creating out of thin air, that is when we will finally see silver with a 5- or 6- handle on the price?

    Chris

    ReplyDelete
    Replies
    1. Chris - yes, we need to see an inflationary bias take hold in the minds of traders/investors before silver has a strong chance of a sustained, solid uptrending move.

      I am keeping a close eye on copper however because if that metal begins a sustained uptrend, it is more than likely going to signal an upcoming similar move in silver.

      Delete
  2. ...edit... meant to type: "when all the e-dollars the Fed has been creating out of thin air finally start sloshing around in the 'main street' economy"...

    Chris

    ReplyDelete
  3. I think after Christmas silver and Gold both will go down
    Thanks

    ReplyDelete
    Replies
    1. I agree.

      It's simple - everyone gets so much gold and silver for Christmas that they have it coming out their ears so they have to sell it in order to pay their new taxes.

      I'll be happy if i just have enough left over to buy a bucket of minnows and a cheap cigar.

      Delete
  4. Dan... I listened to your interview on KWN today about copper and its recent strength. I don't know if you came across this data from the U.S. copper inventories, in my blog entry on TFmetals Report here:

    http://www.tfmetalsreport.com/comment/242722#comment-242722

    Anyhow, it looks as if U.S. LME Copper inventories are down 60% since Jan 2012. This may to some degree have something to do with the recent copper price rise.

    steve

    ReplyDelete
  5. Who didn't know silver's gains would be "repealed" before midnight? They've been doing that for over a year now, since silver crashed from $50 to $33 in one week, with the help of 5 margin hikes. The HFTs can move prices wherever they want. This dampens demand greatly. My local dealer confirmed this."People by when the price is rising", he said.

    ReplyDelete

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