"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

Trader Dan's free work will soon be available at www.traderdan.biz

Saturday, August 3, 2013

Silver Chart by Request

Current action in silver is as follows:

The market is in a trendless phase - the downtrend has been interrupted but rather than an uptrend starting, the market is consolidating (moving sideways) with a negative or bearish bias.

That is because the -DMI is trading above the +DMI while the ADX line is moving downward from a very lofty level above 50.

Also, the price remains below the 50 day moving average which continues heading downward.

Price would need to clear at a bare minimum the 50 dma which currently comes in near 20.55 but ideally the $22.50 level to generate any stronger upside action.

Commitment of Traders reports show every major category of speculators trading COPPER from the short side meaning that it will take a shift in sentiment among this group that the fortunes of the base metals are going to improve to move them more aggressively into silver, which at this time is still being heavily influenced by its industrial metal role.

Without a rising copper, palladium, aluminum, tin, zinc, price it will be up to gold to bring buying into silver with those who do so focusing more on its role as a monetary metal.

While talk that inflation pressures remains subdued dominates current thinking, the grey metal will underperform gold.

I still like to watch copper prices to get a better sense of what silver might do.


  1. Hi Dan - thanks for the update - do you mind sharing how many period you are using for the directional indicators?

    1. Jack;

      I generally use 21, which is a month's worth of trading days but will often vary it down to 10 or even as high as 30 depending on the individual market as well as my time frame for the trade.

      You can use this indicator on a shorter term basis also such as an hourly chart but generally speaking, it is better for the daily and weekly views.

      I use it in conjunction with other indicators as well as the horizontal support and resistance levels you see me charting so often.


  2. And don't forget the most reliable leading indicator of PM prices.

    The GDX/GLD ratio is now plunging again back to the lows, only .012 away from the world record lows reached last month.

    Thanks to the horrific results reported by Barrick and Yamana last week.

  3. Mark you are like Tokyo Rose.

    1. Concord;

      In defense of Mark, not that he needs any, He is just stating the obvious. Barrick has made a mess of things but is hopefully getting their act together and will perhaps have learned to run a tight ship instead of just a strategy (if you can call it that) of waiting for a higher gold price to cover all their ineptitude.

      I think what has many gold mining share owners so discouraged is what Mark has been saying - the consumer based stocks are scoring huge returns for their owners while those who bought the miners looking for gold to respond to the money printing have done nothing but suffered losses.

      The chart pattern on the HUI has been pathetic - that is a fact unfortunately. They do look to have bottomed but whether or not that translates to a trending move to the upside is unclear. Right now they are sure not giving any indication of that. Some upside resistance levels need to be taken out before they will trend.

      Keep in mind that it is very difficult to be objective when one has a position in a stock. That is one of the reasons I try to write here - to teach folks how to read a price chart and learn to get out of the way when the stock moves against them and get back in when it looks as if it is getting ready to move higher.

    2. Dan
      I am painfully aware of Mark being right. What I object to is those of us who have invested in these gold shares are deeply concerned with the losses of our investments and Mark is an understated basher. Always reminding of gold's weakness, we know already. He is right at this time but snide incessant comments about Bernanke sticking it to commodities and the people in them shows a lack of grace when it is done over and over again. If I am being oversensitive then forget it. Gold has stunningly underperformed. This is undeniable. Fundamentals stopped being relevant and people in gold refused to see they how vulnerable they were after ten good years.

  4. Unfortunately (for bulls),

    I see silver contained within 2 downtrend channels.
    One short-term in red.
    The other middle-term in grey.

    The Bollinger Bands are forming a squeeze, with low price volatility and accumulation of "energy", i.e the longer the squeeze lasts, the more likely we'll have a strong directional move when we finally get out of the bands.

    I'm watching at the MACD (9 20 7) as it is meeting its signal, so a cross or not may be an advanced indicator of the way out.
    As long as we are in the squeeze, I'm not taking any position on this metal.

    Take care all,

  5. It is true that the price should tell one everything that one needs to know about that market. So I guess 1300 from 1900 tells us a lot. But here is something curious. If Germany has 1400 tons of gold stored in the US, and now wants it back, and the US doesnt have it, why cant they just credit Germany with the cash amount of that gold and then Germany can buy the equivalent amount in the cash market? The whole situation just doesnt make any sense. Dan, can you please try to make sense of that.

  6. I think a lot of the anger towards the gold pushing websites is that not one of these guys were able to man up and admit they got it wrong.

    Not one of these guys warned of a crash in gold and PM stocks which would exceed the Nasdaq crash, the 2009 stock market crash, and the housing crash in duration.

    And the junior PM stock crash I think has exceeded the Nasdaq crash from 2000 - 2002 in price.

    If some of these guys would have admitted that they had made a mistake, they were sorry, and learned from their mistake, then I don't think a lot of guys would be throwing spears at them today.

    Some could actually say that some of the gold pushers are actually worse than Jim Cramer. Cramer has on numerous times have made bad calls and admitted so on his program.

    Not one apology has come forth from the 35 some odd gold market promoters I have heard over the years.

    In fact, three I know have been so embarrassed, they have completely disappeared from the landscape. Not one interview or article written the last 12 months. I'm not going to name any names, but I bet you guys know who I'm talking about.

    Now, if these guys had pushed consumer/retail stocks 4 years ago, they would all be rock star heroes featured on CNBC by now.

    1. Not that it's much comfort to those who lost out to the silverogosphere charlatans, but I was doing exactly that, Mark, on Screwtape files since April 2011. And I was consistently abused for it... :-)

      Silver and more Silver.


    2. Mark,

      "Not one of these guys warned of a crash in gold and PM stocks ".
      True, but this crash was probably the consequence of the heavy selling in april Under 1530 $, which witnessed 500 TONS of gold sold in a day...to save the paper gold fractional system because stocks were disappearing (after ABN Amro, there would be other major defaults).
      Can one expect such a size into manipulation?
      It's a least difficult to do so.
      Does it alter the end game or the Fundamentals : no.

      "If some of these guys would have admitted that they had made a mistake, they were sorry, and learned from their mistake"

      That's why the word "mistake" is not very well chosen imho. I think they are right about how this is all going to end.
      And probably we wouldn't have gotten Under the 1500 $ level if there hadn't been such a powerful attempt to break gold prices.

      That being said, I agree with you : the form of the rethoric based on the inevitability of gold prices going much higher within only a few months hurt a lot of people. They underestimated the enemy.

    3. "Personally, I am horrified that markets are in the hands of such people, but more so that I did not fully appreciate how disorderly they would act in markets that now have no rules for the Banksters. For this I offer my heartfelt apology.
      You and your financial affairs are precious to me. I feel your pain. Your positions, and mine are on the same side."

      Jim Sinclair, April 15th, jsmineset.

    4. Thanks HDH, I was looking for that quote.

      Mark said above: "Not one apology has come forth from the 35 some odd gold market promoters I have heard over the years."

      OK Mark, now it's your turn to step up and own it.

  7. Mark,
    How about an apology from the Bankers, Paulson, Geitner, Bernanke for having to "PUT OFF" not SAVE as you would have people believe. They created monster Securitizations, Derivatives and Insurance Options. They then offloaded the whole house of cards on the credit card of the US working and unborn future working. They have continue this FARCE and are now still DIGITIZING approximately $1 trillion annually. This continues the FRAUD!! Stop trying to deceive, defraud, and PRETEND.

  8. I for one lost some money and it has been painful. I also do not blame Jim S, or any other Gold commentator. I did hear them and they did sway me. What I am watching unfold right in front of my own eyes however is amazing. That is the continued blatant manipulation of peoples perspective by the Central Banks and people like you Mark. You praise a bunch of people who yes were trapped but instead of taking our medicine they are using an historical failed policy and you praise that policy. What I am unsure of is your motives. I understand up until this point it has worked. But please tell me if the confidence and recent upswing in the 10 year continues what praise god will happen to the FED? Do you even have a clue? Will they just monetize or as they call it DIGITIZE everthing. That seems to be their mantra and their only tool. When that fails we are talking a failure of EPIC proportions. So my now limited "INSURANCE" is not at all a position I wish to give up. Please tell the ladies and gentleman what happens when a Bond market fails, or for that matter when all BOND MARKETS FAIL. Look at DETROIT right now. What is happening? POVERTY to the NTH Degree. No way out. Please listen to the future.


    Dan watches price on a daily basis. He is nimble, fast, and teaches. You preach absurdity. There is a difference.

  9. Sorry, but I am one who does not blame anyone but myself. I am angry at you Mark because of your lauding a policy that will actually kill many more people than just Goldbugs but entire nations of people.
    Dan, if I am out of line, please tell me.

  10. White Wolf;

    You are not out of line for being angry at the actions of the Central Bankers. I for one find it disgusting that this reckless experiment in money printing is going to ruin the life of my children and my grandchildren.

    But I think what has many in the gold community so disgusted and discouraged and broken in spirit is the fact that the monetary inflation that we were expecting did not materialize like many of us thought it would. It certainly did at first - when you look at what happened to the entire commodity complex back when QE1 was first launched and then QE2 followed on its heels, it soared higher as speculators of all sizes chased anything tangible to protect their wealth from what most viewed as a deliberate policy of currency debasement.

    No one was complaining when gold hit $1900 and the HUI was soaring into the stratosphere. That is what most of us expected would happen.

    What materialized at that point however was an implosion in the commodity complex that has been ongoing now for some time. I think many are finding it hard to grasp that the velocity of money is not increasing and thus the rampant run up in inflation that would normally follow never really took hold ( yet).

    I think in hindsight, it is a combination of TWO things - first is the abysmal economic record the current administration. They are imcompetent boobs who are so wedded to their socialist/redistributionist ideology that they will sacrifice the entire economy on the altar of that dogma rather than admitting the damned stuff does not work. When you look at the statistics, 44 million on food stamps, something like 14 million on disability, one out of 6 in poverty, more part time jobs being created because businesses do not want to hire full time on account of that disaster known as OBamacare, you simply do not have the necessary ingredients for money to turn over or change hands at a fast enough pace to ramp up inflationary pressures.

    Then you have the fact that there is so much bad debt that as it is being extinguished, the new money being created is basically just enough to take its place with the net result that the impact from the money printing is not being felt as it would have under different circumstances.

    I think the point in this is that while history repeats itself and while we can definitely study history to see what the future might hold, no two events are exactly the same in all their dynamics. That means each event is a learning experience. We either adapt to it and learn how the majority move as a result of their view of it or we do not profit.

    I think it still comes down to that old adage ( For NOW) that you cannot fid the Fed and win. I would add that you cannot fight the TAPE and hope to profit.

    That is why we try to analyze the price action of the various markets here and hopefully learn to go with the flow instead of standing in the middle of the roaring stream and commanding the water to reverse course and flow uphill.

    The question now is how to best position ourselves to make some profits. As an observer, noting the pathetic condition of the economy, I marvel that the equity markets continue their moon shot but I also understand that $85 billion of new money each and every month is flowing into the damned things. You cannot fight that and win.

    How long will it continue? Who knows? The simple and obvious answer is that it will continue until one day it just doesn't and then that will be that.

    1. Based on the last 3 month yield on Ten years I for one refuse to put any bets in most stalks and mostly the FINANCIALS. They historically get killed esp when the only game in town was MTG REFIs on Commercials. To bet on investment banks would petrify me as well. Your view is well understood and duplicated with me Dan.

    2. Great explanation about the Fundamentals, thanks.

      Maybe I would add a third one : maybe gold prices also went ahead of themselves compared to the money being created overall.
      After all, from 300 to 1900 $, we multiplied gold prices by more than 6 times.
      I don't remember all the studies I read at that time I was trying to assess if there was still a long sustainable rallye ahead, but I remember some interesting analysis showing that the monetary base was not growing at the same pace as gold, even taking into consideration all QE cumulated.
      So maybe what we see now is also due of gold having gone up a bit too fast, a bit too far, due to the anticipations of hyperinflation and "Armageddon tomorrow" of some participants.
      I mention it as an additional possible reason from the two main ones you've already pointed.
      Sinclair himself was mentionning a few months ago that at 1650 $, gold prices already reflected most of the current western world's debt, and that higher prices would be due to QE to infinity.

    3. P.S : meaning that for Sinclair (I speak once more Under your control, correct me if I'm wrong), 3500 $ gold prices is not for tomorrow and is not a faira value for gold right now. 1650 $ was a fair value for gold at the beginning of 2013, therefore at 1900 $ +, gold prices were already a bit overheating, due to anticipations of hyperinflation tomorrow (remember, USA had just lost their AAA!).
      As you mentionned, the debt is a black hole sucking in a good part of the liquidity.
      See how much the Fed is sending to european banks just for them to "stay alive" in dollar terms.
      This money is not getting into to the real economy.
      If Sinclair sees 3500 $, 50.000 $ or whatever in between, it is imho due to a direct consequence of :

      - the inevitability of a loss of confidence in the dollar and in some other fiat currencies, which can be provoqued by many black swans : bail-ins, QE to infinity, explosion of US debt, other MF Global bankrupcies and the evidence that paper gold is nothing but paper...
      - at some point, this loss of confidence will become critical and the dollar will collapse. At that time there will be a rush towards the REAL thing, which, because paper gold seems to be leveraged 100:1 times, will leverage the prices of real physical gold much much higher than now.
      - maybe we won't even have to wait for a dollar collapse, if the paper gold fractional system loses credibility before that day. Then we may see a rush towards physical gold which will make the current purchases from eastern CBs look like pocket money spending.

  11. I am a long term comml equipment lender, and money is not flowing towards us. Demand is very spotty on replacement equipment only and energy spec. Very very tight credit policies. I believe precedent set by FED and Govt. Financial repression and contracts are tailored towards Minority Participation, women owned businesses, and disabled. Some corps are formed and expect hiring or else. Inefficient and drives costs up. Many Chicago companies getting transpo and waste contracts in Maryland???? Makes my blood boil.

  12. State taking over past outsource to small business jobs. State bond financed equipment deals replace my previous venue. Add state salaries and long term pensions to these types of takeovers and POOF.. Here comes DETROIT

  13. Dan,

    You say you wear two hats: Trader Hat and Investor Hat. Everyone knows your Trader Hat, because you blog some of it.

    What does your INVESTOR HAT tell you?


  14. silver slightly above 20.00 right now here in Asia. Let's see if it can keep it's head above 20.00. A 2 handle versus the 1 handle makes a difference to me in terms of the psyche

  15. Dan,
    I now tip my hat to your "gut feel" for the price markets.


    Would you say that this now would increase the cement in the floor price of gold miners that hedge?

  16. Imagine the pain of watching stocks like Buffalo Wild Wings go up from $20 to $107 while everyone says "any minute now, the system is going to implode!"

    And then Sprouts Farmer's Market goes public last week and goes up 123% on the first day of trading.

    Lots of head scratching going on among those who keep predicting the "Endgame" for the financial markets, yet they hold up beautifully. And it was actually the XAU that crashed even harder and is now trading at depression era lows.

    And not a word or comment anywhere from the "experts" about what went wrong and the huge amount of damage inflicted.

    I would have expected lengthy apologies, a comprehensive analysis of how the analysis failed, and a lesson learned such that such a horrific mistake never happens again.

  17. "I would have expected lengthy apologies, a comprehensive analysis of how the analysis failed, and a lesson learned such that such a horrific mistake never happens again."

    Will you be here to apologize after the next crash? Dont forget the miners went up while the markets crashed into 2003.

    I do not appreciate your stating the obvious every single day. Seems your here to rub some salt in the wounds inflicted by financial repression.

    If might is right there and there is no such thing at market manipulation - there will still be consequenses.

    Your name tells me what you are Mark.

  18. feeling a lot of anger coming from the pm bulls of late; Mark, you have replaced me as the number 1 target of the stale, rear view mirror thinking so prevalent out there, and yes, it is truly pathetic that the "next Wednesday the silver explodes" guys, who can never belly up to the bar and admit that they have been wrong, and in fact it seems to me that they do not even question why they have been wrong, but of course, that is what makes a horse race; that is all, steve in sparks

  19. Here comes that 10 Year yield again Mr. Mark. I am still awaiting on an answer to what happens to financials, Fed Balance sheet, and the deficit when the 10 year finally reaches over 3? Please inform us.

    Jasper, you hit the nail on the head. Rubbing salt in the wound to continue to pass on this "effervescent" recovery. Ah, how sweet it is that the only jobs being created are part time service jobs and how nice that will drive this bubbly recovery. FULL BS

    One strong manufacturing area is Smith and Wesson, Kimber Manufacturing, and Bullet makers. Now that is proof that this recovery and all the BS from guys like Mark are false. Even if the Average Six Pack Joe is left out, he sure will know how to defend himself.

  20. A special request would be for you to put up a SWHC (Smith and Wesson Holding Corporation) chart comparison to a DOW, S&P, or NASDAQ. This would indicate what I speak of. What is even more interesting is Analysts and insiders are now indicating that these companies will double from todays ALL TIME HIGHS.

  21. Steve. I dont mind bearish opinions. I dont even mind the message mark is making but I just dont see the point in posting the same message every single day.

    Mark is trying to whip up anger against the bull's "gurus" and his message is designed to denigrate the ""socalled "experts"".

    His technique is the CATO technique where every single post he makes the same pointless backlooking point making carefull use of words like "pain" in reference to PM investors and "beautifull" in reference to the general markets holding up.

    XAU may be "trading at depression era lows" - these lows are still double the 2001 low and 50% over the 2008 low. Lets try to keep some perspective here.

    Dont expect any forward looking statements from Mark, White Wolf.

  22. I am not heavily invested in Mining Stocks anymore. I took the hint. But I moved my position to Lead Firing Device Manufacturing since the Goldilocks Fed and Dow pushers are able to manipulate. I now am focused on purely true "defensive stocks" against manipulation, fraud, and the theft. Theft of both money and spirit.
    "No free man shall ever be debarred the use of arms. The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government".

    I forsee no slowdown in this market. Maybe mfgrs will be forced to change states, maybe this admin will be able to put up barriers to ownership, but eventually these defenses are key to what Mr. Jefferson spoke of.

  23. Steve, are the charts I referenced the stale rear view ones you were speaking of?

  24. strange..how come the miners are relatively strong despite gold being rather weak....i got gold at 1300 and hui in green ish...there a paticular reason for that...i know miners dont strictly follow gold constantly but i just dont get it today....

  25. Mark is a broken record. He is a gentle but obnoxious basher, and will be around until gold recovers. Sadly it may be awhile.

  26. good morning White Wolf: not sure I understand your question; steve in sparks

    1. I was saying to you and Mark how strong the lead firing device stocks are soaring over all the other stocks, especially the barely recovered Citigroups and BAC's of the world.

  27. Dan; Once and for all, can you explain to those who seem to be married to their losing positions, that MANIPULATION has always been part of the mkts, and it is only a question of the degree; silver in '10 into '11 from $20-$50, and were we running out of the metal, or something? lol These are treacherous, dirty, rigged mkts and if players can not handle it, then they should get out on the backyard patio and play jacks with their daughters; that is all, steve in sparks

    1. Steve,
      No one is looking for sympathy from anyone here. We all understand the treachery involved. I don't see anyone complaining that they can't handle it either. What I do see is some people taking victory laps everytime the pm market is down. Be happy you are not in it right now. Dan is objective and is not going to rub anyone's nose in what is a pitiful gold and silver market right now.

  28. not all, Jasper. steve in sparks, which is obvious in their incessant whining

  29. Hey Stevie and Markie,

    SWHC up another 5.78% today. 10 year yield up again today. Looks like the Magnificent Ben and his CB boys around the world will get what they deserved. Maybe they can fool all of the people some of the time, and all some of the people all the time, but never will they fool all the people all the time. Fischer, another non voting
    Fed member this year, threating Tapering. I think an ideal portfolio would be 50% Gold and 50% stocks in Lead firing manufacturing devices. Heck with Stocks and Bonds. Perfect. If taper and things get out of hand, Lead firing manufacturers go to the moon. If they continue to have to buy, buy, buy, then well Gold will eventually break out when the Comex fails.

  30. I bought bonds a month ago and it looks like I am wrong if double bottom does not hold; staying short silver, beans, yen; steve in sparks

    1. Your are in luck. Gold just dropped down the elevator shaft to $1,289, $1,300 now resistance again.

      Bonds looking good so far, well off the recent lows.

  31. Whenever gold gets to the single digits in the hundreds (forget the first two numbers) it settles for 24-48 hours, then slices through to the '85 number below. Get the shorts on with any lift. Some tasty 20 dollar short scalps coming. Out of all the commmodities traded, gold trades the most perfectly.

    Gold could do that overnight beginning 9pm edt, and almost certainly during the thin european rigging market. It's like being a baby in a candy store. While most sleep, the overnight markets are "goldmines."

    1. Good call....

      Like your nick too.

  32. Dan, your revenue stream must be soaring of late, if the number of posts means anything; that is good for you, and I also think is an indication of a pretty good move forthcoming and to me feels like the downside is it, as the long and wrong bulls are vehemently on the offensive with their attacks at why pm should go north, and I totally agree, but just not now. steve in sparks

    1. Please tell us the reasons why they should go up a month from now or a year from now or 10 years from now, and not now.

    2. Steve - it sure ain't from the website as I do not make a dime off of this thing. I opted to take down all the ads because they were cluttering up the site too much.

      Gold is so much at the mercy of every piece of economic news right now.

    3. " it sure ain't from the website as I do not make a dime off of this thing."

      Don't write this. Nowadays, maybe noone would believe you, or they'd send you see a doctor :)

    4. This is why I appreciate you so much Dan. All the guys writing about gold making money of their writing by selling gold, newsletters or mining shares did tremendous damage.

  33. Hi Dan, I meant to post this here under the silver chart!

    Hi Dan, thanks so much for the silver chart update, the way it looks right now, many other traders wouldn't give it the time of day! And thanks to everyone else for all the interesting comments, I learn a lot from yous.
    Today I learned silver was the same price 12,298 days ago!(thanks to endless-mountain)
    This seems crazy to me!?? The Dow 'INDUSTRIAL' average surges to new highs!!!....silver plummets. A Crisis happens!!.. silver plummets....so much for safe haven with gold?? I can tell there is something going on behind the scenes but it is so hard to tell with all the "willies, manerinos, maxs', etc etc on the net with all great info but....it's great to see some hard work here on the charts to see real time price action crystallized in the charts!
    I learned the hard way I have a long way to go to have any success at trading! I'm not going to give up though and I do get the feeling that silver is a sleeping giant! I'm leaning towards so called stacking as I am hesitant to use the ETFs etc. as I think that the system is so corrupt and rigged and broken!
    For me I like the history around gold and silver. some of the best advice I get about gold and silver comes from my bible. I also am very intrigued by JFK story and his silver backed currency.
    Well I know I am a different commenter on here but thought you all would like a different take on things?
    I think silver was allowed to rise to the highs of 2011 to give the impression of a bubble (without cracking 50) to squash the anticipated interest steming from QE. Also up here in Canada you have the RC mint offering silver PLATED coins (for obsene prices compared to silver content!) and silver coins with colors all over them and funny looking silver coins with jewels in them, - I think to give the public the idea that silver is only for odd collecting items not money!
    What do I know, I'm just a contractor with a zeal for silver!
    One thing I do know is 0% of my friends and family have any interest for silver whatsoever or the markets for that matter, BUT some of my clients and co-workers/peers are starting to catch on to the goings ons in the markets! I just picked up a 100 oz. bar of silver for a friend!

    Hi Ho Silver!

  34. Derry O HigH HO silver!!!
    You fit right in like the misfits on Christmas Island and Burl Ives... Silver and Gold!!!! Silver and Gold



  36. White Wolf:

    Your answer to what happens to the bank when rates are rising, check out KRE or KBE, the banking sector benefits from the steepening yield curve.

    Regional banks especially, and those instutions are the primary lenders to small businesses.

    So I'm expecting a massive economic recovery as banks rebuild their profits and equity base, which enables them to build up their loan loss reserves.

    Of course, stocks have already discounted a huge economic boom already, I don't know how much more upside there is.

    I think gold will advance when jewelry sales and bullion sales pick up as the consumers feel better about spending in 2014 - 2015.

    And speaking about gold jewelry, gold has been very out of favor compared to platinum, eventually gold jewelry will be come a huge fashion item someday and demand will skyrocket.

    Imagine the huge credibility many would have had if they had hollered "This Is It!" at the 2011 highs, told everyone to sell gold and buy retail and consumer stocks, then rotate back into gold in 3 - 4 years.

  37. Mark,
    You sound like all the lying make believe recovery "just around" the corner carnival barkers on Marketwatch.

  38. Mark and Steve,

    The 10 year just clipped 2.66 beiefly. The bond bet is one O would get out of and quick. You do know your precious capital is at serious risk. Go long Storm Ruger or Smith and Wesson. Much better bets than stocks esp Financials. Best to short them, sell bonds and start accumulating GOLD now!

  39. Well I didn't know there would be this many comments for a silver chart! didn't think I would get ridiculed either!
    @ white wolf, you know how to make a guy feel welcome!

  40. Derry O
    Sorry if you thought I was ridiculing. I was just commenting on my state of mind at this point. I am a gregarious type of guy and sometimes maybe I overstep my statements.


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