Loading ...Is it any wonder precious metals continue to fall, when instead of buying the metals and shares, speculators continue to play the derivatives, which controls price trends with permanently bullish sentiment set against Wall Street machines programmed to exploit this mania. That’s right, precious metals speculators are locked into a reverse mania of sorts, constantly gaming a bottom, which will continue to be illusive, as long as this behavior persists.
I do not neccessarily agree with Dave that precious metals are going to lower lows 5 years from now because many things can happen between now and then, however, if faulty and fraudulent US pricing mechanisms are still setting world prices then, and speculators maintain the same betting practices, you should know anything is possible if this is already not evident to you. The all important open interest put / call ratio on SLV has dropped to .25 as greedy specuators continue to buy the dip. That’s 4 calls for every put, a record low. That’s why prices are falling today, because the machines are having a field day, and it’s not much better in GLD, GDX, and NUGT. And COMEX open interest is at record levels, with speculators the culprit here again. The New York bankers laugh at you because you are not watching true sentiment and they can count on you to be greedy bastards.
My question(s) to these people is ‘how’s that trade working out for you?’ Are you making more? Isn’t 10x your money in physical enough for you? All we need is true price discovery in the physical market.
All you gotta do is stop playing that crap.
Happy trails