27.9 ish left in the CRIMEX. Tick...tock...tick...tock
Firstly, I would like to congratulate anyone that has been buying PHYZZ in this 'corrective' or 'dead cat bounce' state we are in. $33 for the bottom to me looks fabulous and anything under that would be a disaster for people trying to buy phyzz as my perception of anything under $30 would deplete the comex within 24 hrs of what little or no silver it already thinks it has. Hopefully, people realize by now that my 30 day countdown is still in effect. July 5-7 is the end game for this place of trade. If its not, they will magically make up some arbitrary number overnight, saying they found some 34 million ounces or some insane fuckstory like that.
There is a real delicate balance here folks; on one hand you have a chairsatan who started the printing presses up full blast, and now is taking away the heroin addicts food supply off cold turkey. This impacts directly with SLV and GLD. Make no mistake about it. The paper liquidation of the equity markets without some some new printing will be 'it.' This is where I sit on the fence about the next 5 months, in which I have yet to find answers to from my contacts. Bears 7 will be attributed to this very soon.
John Embry recently said, "More and more people are going to see the light and realize that their protection is in hard assets. And when you put that in context of how small the sector is in reality to the amount of paper out there, the moves could be outsized. I would not be surprised at huge moves in gold and silver in the next three to six months. The story is very concise now, I mean the economy is in death throes and reality is going to intrude very quickly on this picture and when it does gold and silver will be the refuges."
No one is stating the obvious; what will happen when the equity markets, which included SLV and GLD get smoked?
This is why I'm starting to take an in depth video analysis of SLV trading and looking for clues as to the future price movements.