18 September 2013

Gold Daily and Silver Weekly Charts - You Have To Be In To Win

"But we in it shall be remembered;
We few, we happy few, we band of brothers..."

William Shakespeare, Henry V

As Bill Murphy always says, you have to be in to win.

There is intraday commentary on the Fed decision and the precious metals markets here.

I suspect that you might be able to name a bank or two that may have just done the bearish leaning metals funds like dogs, not to mention the gullible baby bears.

In case you have already forgotten, here is the setup in pictures.  And we are not done with it yet.  There is a long road ahead for this generational bull market in precious metals.  Most traders always miss the really big moves because they are too busy chasing after coins in traffic.

Have you remembered to send a message to your representatives to ask for an investigation of the whistleblowers who are said to have come forward with evidence of market manipulation, and of the shocking lack of response from the CFTC?

Next week is an option expiration on the COMEX.   Markets do not reform themselves, and manipulation swings both ways.

It appears that a right shoulder has been set, and overhead resistance was punched through with some authority, but still the neckline remains to confirm. 

But for now, enjoy what you may have gained.

Have a pleasant evening.

“Each time a man stands up for an ideal, or acts to improve the lot of others, or strikes out against injustice, he sends forth a tiny ripple of hope, and those ripples build a current which can sweep down the mightiest walls of oppression and resistance.”

Robert F. Kennedy