SD Friday Wrap: Is it Black Friday already? Because silver’s really looking like it’s having an epic doorbuster sale today…
Last Friday I said the world was descending into madness.
The world is descending into madness:
Nothing has changed.
In the markets, however?
But don’t take ‘Ol Half Dollar’s word for it, see for yourself:
That’s eight Trump Tweets about the record high stock market since the start of November!
But hey, who’s counting?
I just did.
Look, there’s no sense in getting frustrated or mad about a brutal beating in gold & silver.
In fact, I’ve been wrong in thinking the metals were going to rally, but please understand that I’m not on the inside, so I’m just as good as the next Expert Trader of the Century who is neither on the inside.
I mean, sure, there’s no such thing as “coulda, shoulda, woulda” rallied, but this is quite telling:
Total Comex gold interest has grown to another new ATH.
The preliminary number (which will be finalized by about 10:00 am ET) is 709,000 contracts!
Again, that’s 70,900,000 ounces of digital gold trading on an exchange “backed” by about 8,000,000 ounces.https://t.co/YN0P2cQJFN
— TF Metals Report (@TFMetals) November 8, 2019
For as long as the cartel has some physical they’re willing to part with, and as long as people play in the corrupt, evil and fraudulent rigged casino, unlimited paper gold (and silver) will be sold into the market to suppress the price.
That said, if you’re a trader and you’re “long and strong”, you’re sweating bullets right now.
If you’re a stacker with fiat currency to invest, you’re loving this strong dollar/cheap metal combo!
For anybody looking to add to their stack as this “correction” takes silver lower in price than it has been in recent months, today I put together a little video about some things that people may want to consider when investing in gold & silver:
I think so, so check out the video and let me know in the comments section what you think.
Silver is down over 13% from its early September highs:
Silver’s daily chart is decisively bearish in the short term, and we are not quite yet in “extremely oversold” territory in regards to the technicals.
Here’s a look at silver as the week played-out:
From peak to trough, silver is down nearly 9%, just this week.
Gold’s lost its support at $1500:
If we don’t get above $1550 pretty soon, $1500 could turn into some pretty nasty resistance, and just like we see with silver, gold’s technicals are not screaming “extremely oversold” just yet.
The gold-to-silver ratio has surged:
From a technical standpoint, there is not yet a reversal of the trend, which is to say despite the surge of the last few days, we’re still in a downtrend.
Palladium has finally moved into pullback mode:
If past is prologue, we’ll be testing out that 50-day moving average in just another day or two.
Platinum, on the other hand, well, yeah:
Platinum isn’t down quite as much as silver is, percentage-wise, but that doesn’t make the price action any easier to digest!
Why am I using so many exclamation points!
Dang it, that was a question!
OK, “Hey Half Dollar, why are you being so goofy today, I mean, this sucks”.
Because it helps a person remain sane when surrounded by market madness!
You might like it!
And if not, well, If I’ve learned one thing in life, it’s that nothing lasts forever, precious metals price suppression included.
So we might as well try to remain positive about it when the going gets rough because we’ve come so far and we’re so close now!
But fine, I’ll stop with the exclamation points.
Crude oil is finding quite the resistance at its 200-day moving average:
Crude oil prices are up year-to-date, but crude oil is pretty much unchanged from one year ago.
Copper has been doing its own thing for weeks:
We’re just now starting to test resistance at the 200-day moving average, and slowly but surely, we’re setting-up a golden cross.
The Fed cut rates again last week, prints money like crazy, and the dollar surges:
Yield on the 10-Year Note is above 1.9%:
If we get above 2.0%, get ready for the “bond bull is dead” calls.
I’m not so sure, however, because we know the direction interest rates need to go for governments to be able to service their unsustainable debts.
Furthermore, I don’t think the bond bull market dies gracefully.
It’ll die like a dog, whining, whimpering and whaling like a…
…wait, didn’t we just hear about something like that happening recently?
USA! USA! USA!
It never ends.
So long as Deep State Globalists are in power.
The world is turning mad, yet there’s not a fear in the markets:
Much in the same way that parents can fool their kids into thinking that Santa Claus is real, the central bankers have fooled “market participants” into thinking there’s nothing to worry about in the stock market.
The Heartbeat of America Index still hasn’t hit a new all-time record high:
If I was in stocks, which I’m not, I’d be paying very close attention to RUT, especially if it rolls over here.
What’s the bottom line as we find ourselves here this beautiful and cold Friday in early November?
The cartel can naked short as many paper gold & paper silver futures contracts as it wants to.
For as long as they are able to do this evil, corrupt & fraudulent scam, prices will fall.
Nobody in Washington is fighting the good fight, so this will continue to go on.
What’s the one and only thing that’d make it come to a screeching halt?
The cartel being unable to feed actual physical into the “market”.
The question is, are we anywhere near that point in time?
Only those who are on the inside know that answer.
That is the secret they’ll take to their graves.
And no, I’m not kidding when I say that.
Because silver, above all, is key.
Silver is the key to what?
Defeating the evil.
So they smash.
– 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.