Just by luck while scrolling through channels hit on Art Cashin
Providing a synopsis on Gold, detailing a perfect storm of Backwardation, Conspiracy concerns, Warehousing Storage scams, Release of a New York Times story high lighting many of these issues... and Shorts panicked.
Goofball CNBCers laughed on queue, comment by comment thereby poo pooing Chashin's concerns.
Cashin didn't condescend with a concurring chuckle.
Next airing will witness context corruption making it appear that Cashin loathes gold.
Yes, CNBC talking heads are paid shills. They run a stream of pumpers on the show everyday. They all wave their hands like circus hawkers. I only watch the channel with the audio muted so I can watch the tape.
You see Kudlow last night? He introduced his next segment as a discussion on gold. He said he does not understand gold, then the woman he had on said she had no clue about gold and then the third person said he was short term bearish. What the Hell!! If you are going to have a discussion on gold then have people on the segment from both sides of the trade and who actually understand it. Kudlow just came off as a total moron to anyone who has half a brain.
It is almost unanimous that the media is negative metals. That does create the perfect storm.
If silver (spot) can move back to $20.60, we have a cup formation in the works.
As long as the press and small speculators (SLV posters) are largely negative, it's a good sign overall.
I don't want to see the mindless pumpers come back soon.