Re: susan; eric sprott, small cap gold stocks suggestions
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posted on
Nov 14, 2009 02:40PM
Edit this title from the Fast Facts Section
Kim that was a great article. From Ed Steers today (Sat. morning) of Casey's the following which is kind of interesting.......Note that what he is talking about in the 1st paragraph with silver being like gold, he mentioned that he can't remember the last time gold put in such a postive performance on a Friday.
"And, like gold, I can't remember a Friday performance like this before in silver. Very curious.
But then again... maybe not.
For those of you who have followed the work of GATA in gold... and Ted Butler in silver... you already have an excellent working knowledge of exactly what's going on in both metals. When GATA was formed back in 1999, it took our little group a couple of years to figure out that we had run up against all the money and all the power in the world... something that silver analyst Ted Butler had already been fighting for 15 years.
All of us feel that the end of this game is now in sight. Like most seismological events... a big earthquake or volcanic eruption... there are lots of small and medium-sized earthquakes, ground deformation, out-gassing, steam and ash eruptions... all of which occur before the main event. It's rare for a major earthquake to occur without any warning whatsoever... but it certainly does happen.
This is what we now face in gold and silver... especially the silver market. It's my opinion that what we saw today was a foreshock... another data point that's a warning of future events. And there have been quite a few of them in the last couple of months... and now they're coming thick and fast.
Ted Butler wrote a piece on this issue for his private clients on Wednesday, November 11th... Remembrance Day... and here's a snippet from his essay entitled "The Breaking Point"; "My analysis has always convinced me that it's just one U.S. bank that holds, effectively, the bulk of the concentrated silver and gold Comex short positions, and that JPMorgan is that bank. While I'm still unsure whether JPM will be able to rig one more sell-off, it's important to recognize the hole they are in and the danger associated with them being cornered. Regardless, we are getting very close to the final breaking point, in which something big will develop in silver... If a sell-off can't be rigged by JPMorgan and they get caught with the "full pants down", the price rally will prove epic. Allow me to rephrase that. With, or without, a sell-off... the eventual price rally in silver will prove epic.""