As per the norm, the WORTHLESS gold and silver stocks FAILED as a flight to safety during BOGUS financial turmoil this AM.
Hope all the retail baggies did NOT fall for the gold and silver CALL WRITING SCAM, again!! LOL
Opened at the high and has been lower ever since. Setting up for a shooting star top if price gaps lower tomorrow or price closes in the red today. 127.2 fib of 20.03 / 26.10. = 27.75 = another layer of resistance just above. 8/1//2013 resistance = 27.68, 8/20/2013 = 27.65 present resistance.
What charts? I never posted any charts. Sounds like you have a fear of heights. Now don't panic as we move over 30 by next Wed. temporary top. Just take some deep breaths and keep saying "Everything will be alright." Repeat this over and over as we go over 30.
The only mark you get are the scars for all the bad calls.
Pick enough scenarios and your broken clock MAY reflect the right time once or twice.
As I implied last week, your charts are garbage. Wake up and smell the air. It's called fiat paper burning in Portugal, Spain etc amidst the dry, acrid mid-east odors.
Neat! Just finished "The Harbinger" by Jonathan Cahn, everyone needs to read it. Of course everyone won't. A bit of Gann style timing in the book along with US and Wall Street history. The Buttonwood Tree, first trading floor for the NYSE was under that tree.
I do not believe that there is any chart magic afoot here, only the ultimate failure of the paper money system.
paper assets are being discarded in favor of precious metals. Could this be the harbinger of the global fiat failure? I'd like to think so and I'm fairly certain that this is what it will look like early on. The death throes, of course, will be much more violent.
That said, let's do $28/share for SLW today.