CAN METALS BULLS WHO HAVE BEEN CLOBBERRED
ALSO BLAME BUSH?
I would assume this is also George W Bush's fault, this recent wipeout in the metals? Why not blame him, after all he was in office within 10 years or less of this happening. Hope you got the reference, Barry is a disgrace. I would also put forth that for those who bought coins and paid the 30% premium when Silver was at 19.00 and now have a 43% loss in total, you might want to blame the coin dealers. In reality, this is your own fault, and even though we live in a world where nobody is seemingly responsible for their own actions, this was your fault not theirs.
I have been screaming as loud as someone can that this was at hand. Now that we have had this wipeout here, I am looking for another entry on a bounce into the areas I have marked on the above chart. I do fear a sharper reaction that might mess up the entry, but let's just wait and see. We should have a long long ways to go still here, so there is plenty more opportunity. For Fib people we are nearing an AB=CD spot, which could serve as a low on a short term basis. Selling at these levels right here would be not be wise. We are tracking stocks here in the metals, and they are extremely oversold and due at least for a bounce. if this occurs, these markets are likely to follow.
So far there has been no commercial short covering yet. If in the COT reports I happen to see large buying on dips, I might revisit my projections here. However, we have not seen any at all yet.
Gold has held up better than Silver, so for those who still believe 3k or more is coming, that would be where you should be buying. I will be selling it to you in the near future, so just call if you need someone to trade with!