In typical fashion, Jon Nadler (top bullion specialist for Kitco) has decided to add more BEARISH RHETHORIC on the precious metals. In his Oct 15, 2012 IN THE LEAD column, Nadler thought it was time to bring in a so-called VETERAN MARKET MAVEN to describe the future forecast for silver:
The most recent Value View Gold Report written by veteran market maven Ned Schmidt notes that “Silver has risen in parabolic fashion, to the top of [its] trading range. It has stalled, and moved through that parabolic. The only reasonable expectation from the chart is that it should now trade down to the bottom of the trading range. The forecasts of an imminent upward explosion in the price of Silver simply cannot be supported by either the fundamentals or the charts.”
Here we can see that one of my favorite analysts (sarcasm added) has been included in Jon Nadler’s commentary. Of course, Nadler hardly ever includes analysts that might paint a BULLISH forecast for the precious metals. I am simply amazed that anyone still reads anything that Mr. Nadler has to say. It that vein, it is no surprise that KITCO has received its 4th bankruptcy extension… as the Doc posted here yesterday….LOL
Furthermore, Nadler wrote this about gold in his IN THE LEAD column today:
Late Monday’s EW snapshot analysis of gold opined that with the decline to under the September 26 low gold broke the succession of higher highs and higher lows that has been manifest since May. EW says that gold has changed from trend up to trend down and that the initial support is now likely to be found at $1,693 per ounce-i.e., the 38.2% Fibonacci retracement level of the rally from the May 2012 low at $1,527.
and…
Something, on the other hand, that might come as a large surprise (to some, anyway) is the fact that China might not turn out to be the huge buyer of gold that folks are asserting it will. HSBC market analysts note that –based on the 29% drop in mainland August gold imports from Hong Kong- .“China’s near-term appetite for gold appears to be waning as bullion imports from Hong Kong slow” There is, however, more to this story than just the perception that gold inventories on the mainland are saturated.
A link to the article: HERE
If I had a silver dollar every time Jon Nadler turned up the Bearish Heat on gold and silver when they were heading higher, I would retire.
If the Wynter Benton Group puts their money where their mouth is, I would assume Nadler will again look like the CLOWN that he is.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
Hey Nadler, do I care about you or your Fibonacci charts? We don’t care, the point is your dollar is dead and all that’s going to be left in the smoldering ashes of the west will be physical gold and physical silver. That means bozos like Nadler will have to get a real job (assuming they survive the collapse of course).
It’s interesting to note that when positive sentiment starts to build in the precious metals these so-called experts tend to be wheeled out, probably form the local lunatic asylum, to dampen enthusiasm. These people are an utter joke and an insult to anyone with even double digit IQs. The big players in precious metals ie the non-western central banks, know the real story and are in a hurry to swap their euros, US dollars and other soon to be worthless paper currencies for assets that actually have some intrinsic vale and no counterparty risk. I suggest that the Nadlers and Ned Schmidts of this world crawl back under the rocks that they came from.
Would you rather have “the kind of money that shimmers in the sunlight or the kind that combusts over a low flame”? The answer is pretty obvious.
These experts keep changing their predictions dates whenever they’re wrong. When silver went to 27$ per ounce, I didn’t hear a lot from them. You will only hear from them whenever silver is bullish so my advise is whenever they are predicting that silver will go higher, it means that you should wait a bit longer so that silver will drop.
Kitco (Shills-R-Us) was under investigation for tax fraud in 2010,
http://www.cbc.ca/news/business/story/2011/06/10/kitco-quebec-gold.html
but then it just stopped, no further news came out. If they were cleared you would think they would have announced it.
If the investigation got swept under the rug, then they are providing something in exchange for their ‘get outa jail free’ card.
Maybe the charting ‘bugs’ are part of their penance, but who knows. Everything in this PM trade system is secretive and classified so all we can do is BTD and hold on tight.
The forum over there feels like a bear’s den after a while. A few members try to be upbeat, but get quickly beaten down to resign themselves to the paper traders authority. Most threads whisper to you, ‘sell, seLL, SELL…’
That’s why I banned myself and turned up over here. Like a bad penny.. heehee
Atmospheric pressure varies widely.
The barometric altimeter setting that will cause the altimeter to read PM’s are in danger of rising past critical support levels requires a shill like Nadler pump hot air into the MSM in another attempt to mislead the general population with more hot air.
Translation: One of the best contrarin indicators out there is going the opposite direction from any pomp this guy puts forth.
These people talk about charts and technical analysis so much, it is a sure sign the Cartel likes to ‘Paint the Tape’ as part of their PM manipulation schemes. On the other hand, they lose credibility completely when they talk about the fundamentals not supporting higher prices in silver and gold.
This is exactly what I was referring to in the earlier piece on Kitco & their employees putting down their own products and going bankrupt! LMAO
This is exactly why I refused to buy a single ounce from KITCO. Doggy Nadler is barking again.
Maybe it’s too busy around the Kitco offices with all the orders coming in and they want some time off.
Who cares what KITCO says….they are going Bankrupt!! And before that happens they will rip off anyone who is doing business with them when it finally happens!!! LOL
Jon Nadler is the Silver Antichrist, period. No other human/spirit can hold a candle to this prick. Can you name him/her please! (…and Buffet and Soros don’t come close)
Anyone can make a chart analysis say whatever they want by minor fudging. So this is more BS.
bring on the bears … keep silver in the low thirties even lower if possible just one more year thats all i ask …. my stack will be incomplete if it shoots to $60 by xmas so im happy with plenty of bears coming out …..
For the moment, I’m glad that silver is going down because I didn’t had a lot of opportunities to buy some when it was at 27$ per ounce. To avoid getting disappointed during raids, I think of my wealth as numbers of silver ounces I own and not how much I paid for each of them in terms of dollars, I thank the cartel for giving me buying opportunities and I tell myself that if silver reached 50$ per ounce twice, then why wouldn’t it reach that level again.