Friday, May 6, 2011

The CME Bastards Just Gave Us the Chance of a Lifetime!

If the 35 price range holds for a double bottom leading into next week, BUY BUY BUY!  The manipulation has given us a chance of a lifetime!  The strong shorts will take their profits, or lesser losses and leave the retail shorts to be squeezed out on the way back up.  Perhaps we may be rangebound in consolidation for a while, but the fundamentals are still strong.  There have been rumors of silver supply bumps due to scrap recovery and increased production at the 47+ level, but no solid evidence to support the claims.

Watching for signs of additional seeling pressure, but if we can hold support at the price, we should move higher into the summer.

No comments:

Post a Comment