26 April 2013

Gold Daily and Silver Weekly Charts - Post-Expiration Gut Check - Taibbi: Everything Is Rigged

From last night's gold and silver commentary:

Today was option expiration on the Comex and it was quiet. After the recent bloodbath I cannot imagine it would be otherwise. If I were of a manipulative mind I would hit the metals again hard tomorrow."

So what next? There will not be any halt to QE for the forseeable future.

Gold and silver are lightly owned. When they break out and the common person becomes more aware of what is going on, there will be a huge shift in buying to the upside.

And those who manage the markets fear this.  They not only fear their loss of control, but also the exposure of their market antics and the widespread corruption in the system.  We are in a credibility trap, after all.

If you have not yet seen it, the most recent piece by Matt Taibbi, Everything Is Rigged, is worth reading.

Have a pleasant weekend. See you Sunday evening.