READ BUTLER AND LEARN.
The only thing he misses badly on is the Silver ETF (SLV). That is a fraud just like the COMEX except you can't stand for delivery!
No bears (or bulls lol) and no visits to Home Depot either. Just sit quiet time and read a book, a non financial book. Pick berries, bake a pie, eat fresh food, sleep, the usual stuff. Oh yea I may go wine tasting too.
" But I did buy some PM stocks yesterday morning and then sold this morning for a nice profit."
Like squeezing blood from a turnip. It is one helluva trick. Not sure how many 10's of thousands of shares you would have to trade to "make a nice profit" in one day trading stox that have not moved much. They were all up nicely yesterday morning but closed much lower than their morning highs. All the PM stox I follow opened about on their lows of yesterday.
As I said its a helluva trick
If $640 is broken on a closing basis I will agree, otherwise this is simply a move within the consolidation leading to the next major move up.
Given the political instability in so many places especially the real possibility of war in the Middle East on three fronts around Israel I can't see gold moving down much. Also, the charts look good to me.
ive been watching for quite awhile now how everyone is constantly scratching their heads in disbelief that the regulators are doing nothing about the apparent silver manipulation. i cant believe that the obvious explaination remains unspoken. could it be that no one really realizes it or is it just that it is too dark to speak. let me state it: the reason that the regulators are doing nothing is because it is the government itself doing the manipulating!. part of the response to the crash of the market in 1987 was the implementation of a 'plunge protection' team whos purpose was to manipulate markets to prevent panic. is it so hard to believe that this 'thinking' has since evolved into manipulating other markets (ie precious metals) for the purpose of controlling inflation expectations and other 'worthy' causes?
there; now it has been said!
Butler's assesment of the market is distressing.
And the if the CFTC does not report the COT numbers, how can the that serve the public interest.
I will be forwarding my e-mail outlining what appears as possible manipulation and the need for more detail disclosure of the "goings on" in Ag paper trade.
Long SLW and Ag, ohhh it's shiney.
What about this is he missing so badly on? Where do you get your information? Or, is it just your opinion?
"Once again, I admit to underestimating how much silver could be available to the ETF, at prices seen to date, but there is a much more important issue now obvious. That issue is that all silver investors should be profoundly grateful about the amount of silver going into the ETF. Not only does it clearly prove that institutional investors recognize the great value in silver (remember the concerns that there wouldn�t be enough demand for silver?), but the clear fact is that the silver going into the ETF has taken years off the time we must wait until the price of silver breaks free of the manipulation. Whatever time we still must wait, it is a helluva lot shorter than it would have been without the ETF.
I still see a last minute rush by institutional investors into the ETF, as we start to approach the 130 million ounce filing amount, as they realize this may be their last chance to buy silver in this form. Also, please remember that the 88 million ounce current holding could actually understate the amount bought by the fund, as there is no data on withdrawals of metal to be intentionally parked elsewhere. All we get is net additions or withdrawals from the fund, not gross movements."