The COT structure shows extremes in the dealer and big speculators being long. Could be the specs are right and the dealers are wrong this time, they have taken a beating from the rise over the past couple of weeks. Love how Goldman tells everyone to go short just at the train leaves the station and the puts get crushed. Poetry in reverse.
My own take on this wild ride:
Gold and silver are responding the banking crisis liquidity pump and the expectation of a 50 basis point cut around the corner with the Fed. Maybe they will, maybe they wont. But they better...or else the wheels come off faster than they already are.
People are rushing to bonds just like they rush to the candidates the media pushes on them instead of Ron Paul - the one bring real change and freedom. Sheeple to the end, sadly. That includes the end of their retirements, the end of their investments, the end of their freedoms, the end of the right to travel, the end of privacy, the end of the defined U.S. as we know it. They would rather have the blather from the politicians than the truth from Ron Paul.
I did not know that he had a silver and gold investment business many years ago. That is consistency. Even though Dr. Ron will probably not be our next president, gold and silver will be our profitable financial lifeboats.
Hold on tight - 2008 will be a wild ride!
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