GATA love this one. Veteran Café member Roger has been a mega bull for years on gold and silver and put his money where his mouth is. Yet, in the past months he went SHORT silver in the futures market and told us so and WHY in ADVANCE. He did fine with his trade. But, while telling us his position as it was ongoing, Roger also stated he expected gold and silver to go ballistic by the end of the year. So, since Rog has been so open, and correct to this point, I thought you would appreciate reading his latest:

finally we are seeing some blue skies

hi bill,
things are looking very good for us:
on the 30 day level...
gold is up
silver is up
dollar is down
HUI is neutral

in a few days the HUI will be up if it can just go to 425 or higher. things have not looked this good in a while.
best,
roger
by christmas $50 will be a floor for silver. i'm back in my silver futures and will add to them when silver crosses the magic $30 level. i believe this correction is finally over. The only thing i'm concerned about is the 40%(!) rise in net short commercials silver futures on Friday

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On that HUI, despite the cabal pressure on gold this morning, the HUI was strong right off the bat again … launching to another one of its downtrend lines:

HUI

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=HUI&sid=16794&time=8

The HUI finished up 5.73 to 423.35 and the XAU gained 2.05 to 156.15.

In terms of the big picture, nothing has changed in that August is my projected liftoff month for gold, silver and the shares ... based on what was sent my way WEEKS ago from the best of sources. Confirmation of that month old thinking will be for gold to close above $1630 and silver above $29.