En pleine forme, et il n'a que 4 ans ce Bull là
+commentaire de Midas sous le graph
That is one of the great bull market charts of all time. When viewing the big picture, it reveals a market that has been trending up for more than 4 years. One of the first axioms new traders learn is The Trend Is Your Friend … never more true in this gold market. While there have been some sharp corrections, the trend has remained intact all the way up.
Gold popped around $45 in laser-like fashion in a little less than two weeks. An 8$ setback is quite normal.
The gold open interest rose 6569 contracts to 332,093. It didn’t take long for the shorts to hand a licking to those new buyers. Some were probably flushed out on today’s severe break.
One other point most of the mainstream gold world/Planet Wall Street pundits got wrong was how the "Commercials" represent the smart money. For YEARS, as The Gold Cartel did their rigging thing, we would hear the smart money is short and that is why gold would never go up. Where are those people today when it comes to the smart money? They have had their hats handed to them in a major league way.
That was not the smart money. In many of the cases it was just "the crooked money." Their price-fixing scheme is over and so is their making money in collusive fashion from the short side. Many of the allies/rats of the cabal are running for the hills as fast as they can … deserting The Gold Cartel ship.
The SMART MONEY has been on the long side for years. How come we never hear anything about that from those same pundits who extolled the genius of the "Commercials"?
On the same subject, MIDAS has spoken for years of a coming Commercial Signal Failure. It is defined as a market in which the trade is forced to run from its positions as the specs bury them. I posit that is what is occurring right now and why the open interest has done what it has recently. Some Commercial Signal Failures end quickly and are dramatic. This one is liable to be drawn out for months. Each time gold blows into new high ground, more of "the buried money" will be forced to cover their short positions … thereby extending the Commercial Signal Failure.
The silver open interest gained 2219 contracts to 133,774.
Still can’t figure out the trading action of silver the mule (mule because stubborn silver does what it wants to do only when it feels like it). It just isn’t ready to explode yet. Silver can’t seem to stand prosperity. Today was lousy. Yet, that probably means it is ready to make its long-awaited move. I say long awaited because silver is only 35 cents higher than it was at the beginning of 2004, while gold is some $75 higher. See the monthlies:
Spoke with our STALKER source this afternoon. The buzz in London in the precious metal world is:
*More talk among the Saudis, Chinese, and Russians of a gold backed currency … maybe two currencies. They are supposedly concerned about the zillions of dollars floating around everywhere in the world. Word is they are feeling too exposed to a dollar debacle.
*This is the calm before the storm as far as the prices of gold and silver are concerned.
Jeepers Creepers, if this is the calm, what kind of storm are they expecting over there in London?
graphes by courtoisy of sharelynx http://www.sharelynx.com/chartstemp/gata/GATA-WP.php