The cowards always short the most in the thinnest possible market, when Europe and Asia are closed and the US is closing early for the weekend. They will try it again on Sunday night. One day soon these low lifes will pay for al their sins.
Well, when there is no miner left that is making money on mining gold or silver, it only makes sense that a turnaround is due. And the safest place to be is in a streamer that doesn't mine itself. 2014 seems to become the year that commodities (hard assets) will be back in focus. While for SLW this is an extremely positive story, for the mining companies themselves that is much less so, because they will also get much higher energy costs to cope with.
My take is that the coming rally may extend for three weeks. Whether it will be $30 for SLW I don't know. Silver is about to explode. If that means $25, I don't think we will see $30 in SLW. If that means $26-27, we might.
"Once JPM and such cover they may not be allowed to reenter the futures markets again, but would count on it, the fight will go on."
Excellent point. I understood that also the Germans decided to examine possible rigging of the gold and silver spot price. Well, when the Germans do a job they do a good job. So JPM better doesn't repeat their old habits. I also believe the CFTC has given JP Morgan enough time to get ready to get long.
There is a time to go down and a time for relief. I think we are in for a nice rally. Silver is bursting of energy to regain ground after the reckless selling by the shorties during the last 5 weeks. For obvious reasons Silver Wheaton will be among the ones leading the miners upwards.
Yesterday 84 years ago we had Black Tuesday. Today we have a FED that wants only one thing: a lack of transparency and total confusion, so that the truth does not enter anyone's brain. Say this today, say the opposite tomorrow and meanwhile, kill the messenger (gold).
They have been doing this too long now for this situation to sustain.
And as you will certainly know, the biggest gains are made when the stochastics enter the above 80 area. See July and August. We have taken the very important $1350 in gold. Much more up to come.
To be honest, I have no idea. Except for Preciosa. Silver is going to work its way back up very soon (as from today) and good silver resources are going to be considered as a valuable asset again in a few months time. It is all about cycles and once silver is above $24, resources in the ground will start regaining value very fast.
Hi Ed. Excellent interview with Clive Maund by the way. He really puts the finger on all important issues. I for one, expect that serious capital (like Sprott and Zijin's Offshore Mining fund) will start entering the sector now and chase the criminal naked short sellers out of the sector. And Coeur belongs to the absolute top in terms of profitability and resources, so I have little doubt they will be one of the beneficiaries of this influx of capital.
It almost seems like the market does not believe gold and silver have broken out of the recent downtrend and they may want another day to confirm. It is time for the naked short sellers to get very nervous, because we have read that serious capital (a.o.Sprott setting up an ofshore mining fund with the Chinese Zijin Mining Group) is about to enter the sector.
First time I hear Sir Isaac mentioned in the context of a market. A market is a living thing. Sir Isaac deal about the law of dead bodies.
You are spot on. And silver might be already awake and surprise us all on this rally.
And as to CDE, what comes down faster also goes up faster.