January 27, 2011 Midday Metals Report
Commodities, Ira Epstein, Linn Group, Futures Trading, Online Trading, Technical Analysis, Metals Report, Sales: 866-973-2077
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If your not leveraged hold on & if your not broke buy more. This is not real precious metals going down it is paper contracts because a default is imminent and nobody wants to hold contracts that wont be honored. The end of the game is near as supply is getting tighter & tighter. There were no deposits of gold into the gold comex warehouse as we are entering first day notice on Monday. This is unbelievable & may signal the default we have all been waiting for. Hang on lilbit
Gold & Silver contracts & derivatives are now totally disconnected from the physical metals. Expect the price to plummet as hugh short contracts are dumped onto the comex in order to drive the price down so the insiders can pick up physical metals at bargain prices just prior to a default. The hugh drops you see in precious metals are due to the fact that nobody wants to hold little pieces of paper promising to supply precious metals that dont exist. Demand for the real stuff is massive now.
Well the Silver stocastics stayed low but how low are they for the $! Boy….
With the Oil- thank goodness for the break and thanks to the Saudi’s…Oil at $90 has a noticeable effect, here in the UK our economy visibly slows down when we have to pay corresponding pump prices.
Good to see some thanks here- well done DragonXII.
Great stuff as always Ira, thanks
Ira, your videos are great – very educational & informative…The fact that you consistently explain the same concept, theory, & thought process of each trading day in your videos really allows viewers gain an understanding of the market and how the charts & trends work…Thank you!
I know charting is a proven method to win more than you lose, but it is kind of disgusting the way the metals always get taken down, time after time after time on options expiry. won’t go on forever, but will it go on until they bleed me out of my position in physical silver? kind of like having my fingers cut off a 1/4 inch at a time.