SD Friday Wrap: Coulda, shoulda, woulda. Silver had all the ingredients for an explosive move, but it turned out to be a dud. Here’s why…
I think we’ve seen the bottom in silver.
With a low print of $14.57 yesterday, that’s close enough to my downside target to go ahead and make the call.
Of course, I was also calling for an explosive move to the upside, and I was wrong, but, generally speaking, with today’s move, we would have easily gained some additional momentum and shot above $15.50, but instead, due to the constant manipulation, and especially due to yesterday’s brutal price suppression, here we sit, struggling to even regain a 15-handle.
That said, be on the lookout for the “experts” to bark-out stuff like “nothing more than a spec short squeeze” adding “the down-trend will resume on Monday”.
I’m not so sure about either of those.
Is the bottom in for gold?
Well, gold never traded to a 1250-handle, so we may not have seen the bottom just yet, but I also wouldn’t be waiting to “buy the dip” because if we’ve seen the bottom in silver, which I think we have, then we likely have seen the bottom in gold too.
Remember: Silver overshoots to the upside and to the downside, the latter of which we saw this week, which adds further support that the bottom is in.
I find this amusing:
We can all agree that AMERICA is now #1. We are the ENVY of the WORLD — and the best is yet to come! pic.twitter.com/Uc81DzHbu2
— Donald J. Trump (@realDonaldTrump) May 3, 2019
Well, you can’t MAGA before you Drain the Swamp.
It doesn’t work like that.
Evil must be rid-of before there is greatness.
But then again, if you understand that President Trump is the Fall Guy, then it makes absolute sense.
That is to say, Trump’s narrative will be that America is performing at its absolute best right now, but in all actuality, if Trump is the Fall Guy, which I think he is, then it’s all downhill from here.
It’s a rather steep drop too, and it is timed to the 2020 election.
Think about it this way: Can we really have six more years of can kicking on the swamp draining?
The last time I checked the swamp was expanding and not draining.
When Trump loses in 2020, the Red Hat’s excuse will be, “President Trump just didn’t have enough time to arrest anybody”.
I can hear it now.
The push for regime change in Venezuela continues:
The United States will not tolerate foreign military interference in the Western Hemisphere. President Trump has made it clear that there will be costs for those who further Maduro’s usurpation and repression.
— John Bolton (@AmbJohnBolton) May 3, 2019
If you’re not sure about what’s really going on in Venezuela, then give this a listen.
While the Deep State just loves May 1st for the symbolism within the evil.
Since the day came mid-week this week, I have an uneasy feeling.
It’s about this weekend because we all know one thing.
Bad things happen when it’s the weekend.
The sheeple are generally grazing.
Without a care in the world.
As evil wreaks havoc.
And things change.
In mere hours.
The gold-to-silver ratio is downright ridiculous:
With the constant price smashing over the last several months, with the absolutely dirt-cheap silver price, and with the increasing cartel desperation we saw just this week, not understanding the gold-to-silver ratio arbitrage opportunity that’s coming is like leaving some seriously big money on the table.
Money, that is.
Lots of them.
While I do think we’ve bottomed in silver:
The bearish short-term trend the cartel has managed to paint on that chart is really a sight to see, so if I am wrong and the bottom is not in, the cartel runs the very real risk of losing control of the physical market, for they may see the screens, the digits, and the paper of their evil, corrupt fraud, but I see the mood, the motive, and the action of the new breed of buyer.
<that vicious snarl you hear means you’re throat is about to get ripped out>
<you hear that vicious snarl again>
We have another lower-low (intra-day) on gold’s chart:
Sure, it looks pretty bearish, but as long as we allow the fraud to continue, the chart will look like anything the cartel wants it to look like.
Palladium is right in the middle of its sideways channel:
Notice, however, that the big intra-day moves are to the downside, and that’s commonly what we see in bull markets.
Platinum finally stopped puking today:
Platinum has had a rough time of it lately with the double-whammy of being both a commodity and a precious metal during times of “weakness” in both.
Notice how President Trump can move markets with his Tweets:
Yes, the robo-trading HFT algos are also coded to execute trades based off of keywords in Tweets, but even if they weren’t coded like that, with the Exchange Stabilization Fund at his disposal, Trump can simply decide to sell and even naked short the crap out of crude oil, and then, after firing off a Tweet like the one in the chart above, voila – it’s magic, and it seems like Trump is the reason for the plunge because, well, He spoke to Saudi Arabia, and He’s the master of the deal, and He’s the only thing in all of the galaxies known and unknown that Chuck Norris is afraid of.
Copper puked its guts out yesterday:
However, just like I think the dollar is in the middle of a break-out fake-out, I think copper is in a bear trap, because, well, the whole “infrastructure spend” is gaining traction again, and that’s going to require a lot of copper, assuming all of the money isn’t stolen by our corrupt government, which I haven’t completely ruled out, but even if copper isn’t needed for infrastructure (which it is needed for), I also think nations around the world will look to stockpile more commodities, especially the non-perishable commodities like copper, once nations around the world see that US dollar hyperinflation is finally taking hold.
The Dow Jones still couldn’t get to record highs this week:
The bulls must be feeling very nervous right now.
The VIX is still an absolute farce:
For some reason, however, the cartel is holding-off flash-crashing the fear gauge even though I’ve been saying a 10-handle or a flash-crash would be necessary for the Dow to reach new all-time highs.
Yield on the 10-Year Note is in a wide sideways channel between 2.5% and 2.6%:
I am still looking for a move lower in rates as the stock market turns down again.
I really don’t think the dollar is breaking-out here:
The dollar bulls like to talk about the coming “flight to safety” in the US dollar, but what they don’t realize is while that may have been true about the past, I don’t think it’s going to be true much longer, if at all, especially as the deep state works their hardest to burn every possible bridge it can with as many nations as the deep state can.
So to recap, America has been on Best-Ever-And-Getting-Even-Better Highway for basically the entirety of Trump’s Presidency.
Although we also need emergency stimulus because we could be doing even better if we just printed even more money.
The United States is working very hard to promote Peace and Love in Venezuela, for the Venezuelan people.
Only with Bolton, Pompeo, Pence, Rubio & Trump spreading their own version of Peace and Love.
It will be more like a necrophiliac’s orgy, yet for some reason the Sheeple just love it.
The Fed is winning the gold medal on inflation, jobs and price stability.
Yet Average Americans are either already in the 3rd World.
Or they’re on the fast track to getting there.
Gold & silver understand this.
We should too.
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.