"The Decade of EPIC Begins"
Looks like the buck blinked first
Good interview. The gist from my perspective is that Silver/Gold are still strong. The big fluctuations in price have solid volume is bullish. I mentioned here a while ago that the fast rise in silver felt a bit weird. So, if silver holds in the low 40's we'll be ok. I'm a total ignoramis on the technicalities, this is just what my gut is telling me. :)
The concept that changing the rules mid-game reduces volatility is simply absurd. Volatility is increased every time margin requirements change.Look at the steady increase of silver over the month or two without margin increases and the volatility during that period was much lower.To comment that this is to "protect" the small speculator is the most preposterous garbage I've ever heard.
and my gut tells me that the way US does business can't sustain much longer! 2011, 2012? who knows but it will collapse. we will win this battle!
Agreed Myron. If you were a pit trader would you go on national TV and say the whole thing is manipulated? Only if you don't want/like your job. Furthermore, if volatility was the real reason for margin hikes, then why is CL still $2500 per contract? I rest my case.
The very fact that he says "manipulation is possible, sure" really gives the game away. It would be hard to know the inner workings of this market and not suspect someone is trying to keep a lid on it....
It's all about protecting the $50 dollar silver. Once that goes, we've entered the next phase where there manipulation won't be near as effective.
I have a feeling we are in for the biggest of drops yet. I expect more hikes shortly, they will drive this thing to $35/oz.