Submitted by SD Contributor Marshall Swing
What we see today is a complete change in method by JP Morgan to drop the silver price below $27 to find a new bottom to generate paper long interest in the white metal.
We shall see how the managed money responds over the next few days and if they think a bottom is in and they feel lucky.
Either way, they get killed one way or the other as this is nothing but a bear trap being set in the darkness of the COMEX wilderness for unsuspecting money managers who have a quick hand on the till and tight stops.
We have seen hundreds of articles in the last couple of weeks that the bottom is in for the PMs and they are about to go upward and onward…
Not so, I have been telling everyone for months that prices are headed down, down, down. But down is a very good thing for us who are in the physical scene because we can add far more ounces to our stash for the same fiat money number we have sitting on the sidelines.
What we see today is a complete change in method by JP Morgan to drop the silver price below $27 to find a new bottom to generate paper long interest in the white metal.
As you can clearly see on the chart, at bottom, long interest has once again waned and since Blythe Master’s in on a tight time schedule to get JPM’s short position sold off, before Southern Europe is toast, they have to try a new strategy to draw in the long buyers who have been sitting out of the market for quite some time now. They were content from about mid May to the 5th of June to allow some longs to buy in and make a little profit only to be smashed at regular intervals so those long’s stops were tripped and JPM could cover huge amounts of shorts.
That strategy did not work up on the 6th however so fearing a long speculator deluge JPM had to smash those longs because things heated up too quickly and that is the result of the chart we see on June 7th. Since then, things have been well managed but there has been little speculative long interest so Blythe has decided only taking silver to lower levels can/will attract the speculators back into the game.
We shall see how the managed money responds over the next few days and if they think a bottom is in and they feel lucky.
Either way, they get killed one way or the other as this is nothing but a bear trap being set in the darkness of the COMEX wilderness for unsuspecting money managers who have a quick hand on the till and tight stops.
Gotta love going short in the 29s on options!
Be careful out there,
Marshall
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ASE’s for $29.70 per unit……love $ilver $ales!
Carefull gang
dont expend all your powder
average DOWN
I smell high 25′s coming
then it will be off to da races
just my .02
& YMMV ( your milage may vary )
Even if you can only afford 1 oz. per month – don’t despair. Please keep stacking. A dollar here, a dollar there is NOTHING compared to what will be the end result.
Eric Sprott has been so quite; He is about to change this whole game. Buy silver now while you can get it!
Now THATS a nice move. A buck fifty in two days. Buy op.
JAKE hahahaha. This article backs me up.
Picked up 640 ounces today on APMEX. Spot was $26.93. Right after I bought the briefcase, they raised the over spot .20 cents. Can’t pass up these prices. Now I need to figure out how to tell my wife. Ha
Holy BaCooka Milescali…….. I commend you great sir. What a pickup. I hope the UPS man has arms the size of watermelons !
milescall;
Just tell her in 5 yrs it will be worth double.
I think we will probably see low 20′s maybe even high teens before this ends.
”
I think we will probably see low 20′s maybe even high teens before this ends.”
Milescali,
Dove chocolates my friend. Works wonders with the wife. LOL.
Interesting update Marshall.
Eddie77 lol And the following update of Brother John supports what we’ve been saying: http://www.silverdoctors.com/silver-update-silver-message/
I rather pay more and be sure of physical delivery, than wanting to chase bigger discounts and for one risk not finding any physical silver available in the market at the price I’ve been chasing. lol How big a discount do you want??? If you’re interested, I can sell you silver at $4 an ounce, just send a check and the postal address where you would like the certificates to be sent. lol Or do you prefer that I send the certificates via email? Now I know that you won’t take me up on my offer, but in my opinion, the same principle applies.
4 $ for a silver certificate? Im in. What denominations? $1, $5 or $10? What year 1928, 1933, 1934, 1935, 1953, or 1957?
Interesting article Marshall but I don’t see it going down again and I don’t think JPM and the Wicked Witch Blythe have enough time left to Manipulate it some more. Just a big gut feeling on my part.
I just read earlier that there are some cracks forming again in the Derivatives Market which won’t be good for the Banksters. I’ll try and find that article.
lol M45 Come to Pappa!