The new technical fund longs that rushed into the market on Wednesday got their heads handed to them
Ed Steer:
"...
The last couple of trading days have not been kind to precious metals investors. The obvious price intervention in both the metals themselves and their associated equities, shows you just how desperate the powers-that-be have become. They're doing everything they can to keep the average investor as far away from the precious metals [and salvation] as they possibly can. The message they sent in the last couple of days is..."stay away, or you'll get burned."
"This day-to-day noise is aggravating and, without question, wears down the average investor. But, underneath the surface in the precious metal markets, there are big changes going on that we just aren't privy to...and it's a good bet that they're tied in with the economic and political changes that are engulfing the entire planet at the moment.
"The only thing that is certain, is that this situation can't go on forever...and I'd bet serious money that when the end does come, it will come suddenly...and probably on a weekend or overnight when no one is in a position to take advantage of it. You will either be all the way in...or all the way out when that moment arrives. ..."
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