I’ve spent the night pouring over charts.
I’ve dried out 3 sharpies and broken two rulers.
My printer has blown through its warranty and is out of toner.
I’m existing on nothing coffee, Skittles, No-doze, amphetamines and meth.
And I’ve finally found guaranteed support for silver!
The charts clearly show that in the area between $0.00 and $1.00, silver looks great! I pulled up some 6,132,000-hour charts and found that silver has never been valued less than dust or navel lint. It has always retained value! So get ready with your orders to buy in the area around 50 cents. IF that area is breached, look to buy some more around $0.20. Use a tight stop at -$0.10, though. IF silver blows through there…
In all seriousness, this just a joke. At this point, God Himself could come down and declare that only physical silver can guarantee you entry into Paradise and still the algo-driven douchebags would be selling. Of course, they sold their souls long ago so, why would they care anyway? Amazingly, the ECB announces permanently low rates, jobless claims are incredibly bad, the POSX is in the shitcan and the entire Comex only has enough silver to settle 6500 contracts and yet silver is down another $2. All I can do is laugh. This is what sucks about trying to trade the PMs. You can see everything clearly and be 100% correct in your fundamental analysis but the Forces of Darkness can be so powerfully aligned against you that it simply doesn’t matter. We are right however and, in the end, sanity will return. Until then…
Screw em and, for crying out loud, don’t sell your physical metal. If you’re really worried about the price at which you can convert it back into fiat, then call Lind-Waldock and buy yourself some puts. Here’s a link that tells you how to do it:
In the meantime, kick back and watch the action. Here are some charts that give you some levels to watch.
It is Cinco de Mayo so maybe you should take the rest of the day off. If you need to make a few extra dollars to cover your margin calls, you could go out and mow lawns around your neighborhood as you can be assured that the regular crew is on holiday today. If not, kick back and maybe nail a shot of Patron every hour on the hour until none of this matters anymore.
Hang in there. TF
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