Looking at tonights metals report, and you can find it on the right side of the blog under Harvey Organ, I find a rather peculiar finding indeed.
The volume the last couple of days has been so low, its disturbing. In fact, on days where silver was having decent runs, the volume was much higher due to the fact that the criminal syndicates were throwing the kitchen sink, dead grandmothers, and unbacked paper at the rising price of silver like it was cool or something, you know, like the 'in' thing to do. It was not uncommon to see 100K volume days. And low volume days were 60K.
A few months later, we have volumes like todays 34,180. That my friends is interesting. Either all the fraudulent algo typing losers are partying at the Hamptons, or the Silver trade is truly turning into a physical market, and people are avoiding the comex like it has leprosy.
I now want to turn to the juniors. In particular, I would like to turn to NIA's most recent pick GRO. Look at that graph folks. Then watch my video the day they pumped it and listen to where I say its going.Click here to see GRO...
You know I'm not going to sit here and say that all my picks have turned out, b/c they havnt. But the fact is I've received 13, 13 fuckin emails in their email alerts mentioning their new pump, which I dont even care to mention, and how it has gone from zero to hero. Well ya, if I had over 1 million people on my email list and mentioned the stock 4 times day, I would hope it went up too. Fuck. Not once, NOT ONCE have they mentioned the fact that GRO is down now over 50% from its peak a month ago, and has made new LOWS (even lower than 2009 yup). How bout them apples. Try emailing us that graph, seriously. How many monkeys bought those 1.50's?
Moving on, silver is showing some form of life here. I picked up some more phyzz today as the cup and handle pattern is now starting to take its toll on the shorts. With the U.S. dollar getting straight fucked up today, I suspect some sort of strength this week as the technicals are turning bullish as the days pass by.
Just keep an eye on that $US...something doesnt feel right about it, I feel like something is about to happen, and todays selling is the start of something that may snowball soon.
This says it all:
ReplyDeleteFRANKFURT, Germany — Economic growth in the 17 countries that use the euro sagged to 0.2 per cent in the second quarter as a previously robust expansion in Germany almost ground to a halt. The European slowdown is more downbeat news for the global economy, following disappointing second-quarter growth in the United States, and could make the continent's government debt crisis harder to deal with. The eurozone's growth rate, measured quarter on quarter, was well short of the 0.8 per cent recorded in the first quarter. The German economy, which is Europe's largest and makes up 27 per cent of eurozone output, expanded only 0.1 per cent in the quarter, as against 1.3 per cent in the first three months of the year.
And this coming austerity forced by Germany==> French President Nicolas Sarkozy and German Chancellor Angela Merkel talk at a press conference during the German-French consultations in Freiburg, Germany. Chancellor Merkel travels to Paris Tuesday Aug. 16, 2011, armed with plans for a new EU body to enforce strict budget limits and fiscal policy and calls for all eurozone nations to enshrine a balanced budget in their constitution. (AP / Michael Probst)
http://www.ctv.ca/CTVNews/TopStories/20110816/merkel-sarkozy-europe-debt-crisis-110816/
I 2nd that motion on the USD as I think it's going to accelerate to the downside starting this week.
ReplyDeleteHmmm... $40US appears to be Silver resistance (hit on Aug.7th). I am surprised that we didn't go lower than $37US.
ReplyDeleteexcellent.
ReplyDelete