Sprott completed its premium-busting unit offering and is now using the cash proceeds to procure bullion for the fund at an aggressive pace that suggests that it had made arrangements beforehand.
02 June 2010
Net Asset Value of Certain Precious Metal Funds and Trusts
SP June Futures Daily chart
This market seems to be all technical play, lacking genuine investment interest as opposed to short term speculation.
If the 1070 level cannot hold into the open we will problem go down to retest that low around 1035.
Non-farm Payrolls report at the end of this week. Watch out for more games, wash and rinse. But a 'bad number' could be the spike in the rally hopes for those of the bullish persuasion. Since I do not view this market as 'real' and engaged in price discovery it is hard to operate in it with conviction.
01 June 2010
31 May 2010
Remember
"Judge of the Nations, spare us yet.
Lest we forget—lest we forget."
"The Revolution was effected before the War commenced. The Revolution was in the minds and hearts of the people; a change in their religious sentiments of their duties and obligations ... This radical change in the principles, opinions, sentiments, and affections of the people was the real American Revolution." John Adams
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