At An Inflexion Point
I believe the charts and the last few days and weeks trading action, has brought us very close to an inflexion point. Either the banksters, with their unlimited financial resources (FED and Treasury backing them) are able to take gold and silver materially lower through their lows made during this one year correction, or they have finished covering their paper shorts and gold and silver start to reflect the fundamentals. I am still bullish and believe in the latter. However, a weak bounce, followed by taking out the lows with no massive reversal (such as I thought might happen this week) should provide a definitive answer fairly soon.
Regarding covering their paper shorts. Ted Butler is the best source to track this and they are far from covering that short exposure. I do believe they are attempting to cover what they can. Yes, they raid the price, but buying back their shorts is a totally different proposition.
I don’t know what volumes they need to cover but if they want to (or need to because of outside pressure) although I don’t know what that would be because the gov’t lets them get away with and benefits from the suppression, they could do it on these takedowns that they orchestrate regularly.
Not looking great here.
Ahh, what you worried about. It’s just the summer clearance sale.