this is what can happen when you try to make short term predictions in a rigged market. jeffrey christian predicted on financialsense.com that silver would run up to 18.25-18.50 this week as the commercial shorts bought back their positions. then as the shorts rolled their positions forward into a future month, they would drive the price back down. i didn't post that prediction here because i don't trust anyone's ability to forecast short term.

instead, exactly the opposite happened. silver immediately went straight down more than 50 cents. jeffrey christian is the founder of cpm group, which produces among other things, the annual silver survey, so he knows a thing or two about precious metals. but in this crooked market, even he can't get it right.

then there is dennis gartman, a well respected technician with a wide following. it just goes to show that holding a position, and adding to it on dips is the safest, surest way to profit. if you want to gamble that you can out-guess the market, i suggest you do so with money you can afford to lose.

It's a good bet that virtually every long that was placed last week by speculators and the tech funds got stopped out by the raid yesterday morning. Even Dennis Gartman, who had placed another bet on Friday (and maybe added to his position early on Monday morning if he was really unlucky), got blown out. This is the third time in the last couple of months that he's been taken out within days (if not hours or minutes) of placing a long bet on the gold market. As one well-known NY gold commentator said yesterday; "Some of gold's friends will find this amusing...but that is foolish. The question is, what is present in the market which causes this very well informed and alert technical/momentum player to go long immediately before unheralded and massive selling hits the market?" Right in front of options expiry is never a good time to go long either precious metal. The Cartel pulled this very same trick before options expiry in March, April, May...and now June. Dennis, try July 1st...right after first day notice for delivery into the July contract...and do not buy on margin!

http://caseyresearch.com/displayDrp....