While the rest of the world in Canada watches the opening NHL game Montreal vs Toronto, I will spend some time on here and take a look at what the hell is going on, as to calm some confusion and offer some hope.
Firstly, today I presented a few trades, and literally pin pointed the SLV long today...follow the minute chart, I told you guys to buy after a breakout over the $30.35. At first attempt, it hit the .35 and then they smacked it in the early session, then we broke out and everyone should have enjoyed that profit of 3-4% within hours. I also notified you about the SVM trade and it riding the MA. I would now also like to point out that if its such a massive mega fraud, why has the short interest declined from 22 million to 1 million in 2 weeks? Right, go back to my Shorting 101 article. Those who pitched your calls or longs you live and learn. Even when my calls were down 80% on it, I never pitched all of them. There is a time and place for selling, I doubted from the first sniff at the anonymous letter that it was all bullshit. Hopefully KPMG can release their findings and put this to rest so we can see $20 by year end if the equity market doesn't go to zero first.
So what happened to all my bearish bank stocks? Like TD, MS etc. Well, not even I can forecast an equivalent of $1 trillion being printed by the ECB today. Whenever you have central bank intervention in the 'free' markets, your plans go to shit, you eat short term losses and move on. Although the overall downside channel trend remains intact for the financials, it will be tomorrow's BLS # that separates the men from the boys AND will start the next leg movement EITHER way.
Today Tinka touched an intraday of .26 cents, when yesterday I bought some .25's. 28% today later I thank anyone who pitched them into my bid. I told you that the bid would get aggressive on THURSDAY. I guess today was THURSDAY not yesterday's Wednesday, THURSDAY. Again, Tinka's results were based on holes that are NOT being drilled on the chimu land. People who placed their bets and lost move on, those that are in now or remain resilient, lets see what happens. All juniors got smoked the past few weeks. Tinka was never going to be an exception to this junior tier liquidity rule. They never do, ever. So lesson learned in junior mining shares.
The physical metal scene has been working exactly like I said it would on its negative feedback loop. A quick eye would see that the customer withdraw at the comex today registered a 1,052,240oz. Not bad, havent seen this in a while.
As I type this I am looking at the finished new site. Its done. Testing is commencing. My programmer pulled through, and we are doing our best to get this live asap. I'm not going to give a time or day, just know at any time you refresh this, the live link may pop up and take you off to the virtual play ground...we will be giving away some silver maples, and you will be notified on how you can accumulate your phyzz stack (hint hint).
So off I go to get this thing wrapped up. And as a reminder, all irrational low volume exuberance ends badly. Dont make the mistake and by the tops of descending channels. Let it break out WITH some fabricated good news, let it come back down and support its breakout, then trade it. Dont chase charts.
Got Volcker rule? Will never happen, but there is always a glimmer of hope for the good guys..Click here to see article...
Those thinking the the world is saved today, here you go: