Wednesday, October 31, 2012
They are playing out the accumulation/consolidation of precious metals. A lot of momo boyz jumped on this trade a few weeks ago and time is their enemy. The "market" knows this and easily boots them of the bus with a nice month long consolidation phase like this. That is what pennants are. That is what the handles on cup n handles are. They SHAKE the leaves. They get momo boyz and weak retail schmucks off a trade. YOU'RE PREDICTABLE. It really does make people mad to tell them (myself included) that you really aren't any smarter than a test rat, but really we aren't. No wonder we were called sheep.......WE ARE. I always loved how the CNBS crew would point out years ago during long, overextended, overbot equity runs how the "retail" investor was "still in" as some pundits were pointing out how overbot the run was. Implying of course that the "retail" investor was smarter than the big money which was exiting. Well.....we all know how those runs ended. Of course at the time it looked like retail WAS the smart money. The only problem is greed never lets retail get out in time. They always get butchered. DO NOT THINK that most hedgees are much smarter. ESPECIALLY in the PM trade. Most are not even in it and the ones that are are for the most part newbees.
What you need to know is that we are going to print. BY WE, I am referring to the entire fiat world. This is a global collapse.......PERIOD!!!
Let's keep this short. The bullion is not there. No details but its obvious. Hopefully this remains in the backround for a few more months.....the longer the better......(if you don't know why then sorry)...if we are lucky then the current phase will see a gradual tradeable move in PM stocks. Meanwhile there is a battle for bullion shaping up that is exploding behind the scenes. Spot price is for suckers.....gl and enjoy PS...New York and New Jersey gang......hope all of you and yours are well.
Posted by kliguy38 at 7:42 PM